Major legal aid practice sold for just £200,000 upfront in pre-pack
A large legal aid practice with a £10m turnover was sold to a consolidator in a pre-pack just before Christmas for only £200,000 upfront, it has emerged. But the jobs of all 80 staff were saved.
BSB returns to “part fund” Legal Choices website
Legal Choices, the consumer-facing website which since 2019 has been paid for by all the legal regulators apart from the Bar Standards Board, is now receiving “part funding” from the BSB.
MPs criticise rugby bosses for response to club owner’s SDT sanction
MPs have criticised the Rugby Football Union for not taking action against an owner of a leading club who was banned from working for law firms.
Government to give SRA power to demand more information from firms
The government is to extend the SRA’s powers to demand information from solicitors and firms beyond money laundering matters to economic crime more generally.
Multi-million-pound campaign aims to remove stigma from PI claims
National Accident Helpline is launching a multi-million-pound campaign to reassure people who are worried or confused about bringing personal injury claims.
Law firm did not breach contract by releasing off-plan deposits
A law firm which released nearly £1.3m in deposits for off-plan flats in a failed development in Liverpool did not breach its contract with the buyers, appeal judges have ruled.
Acquisitions help Gateley post significant growth in latest results
Pioneering listed law firm Gateley produced another strong set of results yesterday, with revenue and profit before tax up 22% and 9.6% respectively in the first half of its current financial year.
Law firm fined record £20,000 for “reckless” AML breaches
The Solicitors Regulation Authority has fined an Oxfordshire law firm a record £20,000 after finding it “reckless” in failing to comply with the anti-money laundering requirements.
LawtechUK: Regulatory risks of AI “inhibiting law firm adoption”
Hesitation about adopting artificial intelligence by law firms nervous of the risks presented by a regulatory grey area is causing a bottleneck that needs to be cleared.
MoJ calls for evidence on dual or multiple discount rates
The Ministry of Justice yesterday raised the prospect of replacing the single personal injury discount rate with a dual or multiple rates, in the run-up to next year’s full-scale review.
