City solicitor loses argument with taxman over £215k payment made to ex-firm’s bank
A City law firm partner who had to pay £215,000 to settle his debt to the bank of his former firm, which had gone bust, was not able to deduct it from his earnings at his new firm for tax purposes, the Court of Appeal has ruled.
AI lawyers coming but hold off on legislation, says Microsoft
A new breed of specialist artificial intelligence (AI) lawyer will emerge within 20 years, but governments should only legislate on the subject once technology companies have had time to develop their own ethical principles, according to Microsoft. By that time, virtually all lawyers will rely on AI to assist them with their practice, it said.
Suspension for solicitor whose firm pursued PI claims without instructions and paid referral fees
The owner of a Manchester law firm which pursued personal injury cases without the consent of clients and also paid prohibited referral fees has been suspended for three years. His misconduct was “shocking and outrageous and had a significant adverse impact on the reputation of the profession”, according to the Solicitors Disciplinary Tribunal.
The time is now for law firms to invest in new tech and delivery methods, says bank boss
The time for just talking about new ways of doing things in the law is over as clients “turn their backs on the pricing and delivery models that law firms have traditionally sold them”, a leading banker has warned. He said a “palpable shift” in thinking and serious investment in new technologies and delivery methods were now strategic priorities.
News in brief: BPP launches legal innovation course, ASA dismisses QualitySolicitors complaint, and much more
After a busy week of news, we round up some stories we haven’t had room for so far, including the Law Society seeking to intervene in the Dreamvar case, BPP Law School launching a legal innovation and design course, QualitySolicitors fighting off a complaint about its advertising, and much more besides.
Exclusive: ABS starts to build portfolio of “local hero” law firm acquisitions
An alternative business structure launched at the end of last year to invest in profitable “local hero” law firms, has already taken over one practice this year and is on the verge of taking a share in another. London-based Echelon Law offers back-office support and has a particular focus on firms of one to three partners.
Compensation fund hit again by solicitor who “failed to recognise significance of being a partner”
A solicitor who “completely failed to recognise the significance of being a partner” in a law firm and the responsibility that involved has been struck off by the Solicitors Disciplinary Tribunal. It said the Compensation Fund had received claims of £1.8m against his firm and “paid out in excess of £1.2m”.
Solicitor, paralegal and others face contempt of court trial over “inflated” PI claim
A solicitor, paralegal, GP and claims management company owner are all set to face committal proceedings for contempt of court shortly over an alleged fraudulent personal injury claim. The High Court this week approved further grounds for the committal, taking the total to 40.
Partners fined for not noticing that finance co-ordinator took £1.7m from client account “to keep firm running”
Partners in a former Stratford-upon-Avon law firm have been fined by the Solicitors Disciplinary Tribunal after the finance co-ordinator in the accounts department took nearly £1.7m from client account. He eventually confessed in a resignation letter that said he had “gone above and beyond the remit of my role” by using client money to keep the firm going.
Rebuke for law firm that paid £215,000 for referrals from unauthorised CMC
A north-west law firm has been rebuked after paying more than £200,000 to an unauthorised claims management company for personal injury referrals. The Solicitors Regulation Authority has been dogged by questions over the effectiveness of its response to the ban on PI referral fees since it became law in 2013.
