Personal injury firm sold multi-track work after “sudden and unexpected” rejection by bank
A personal injury firm was forced to sell its multi-track work at a “considerable” loss after the “sudden and unexpected” withdrawal of support from its bank, the Solicitors Disciplinary Tribunal has heard as it fined two partners and a non-lawyer partner for retaining unpaid professional disbursements in its office account.
Senior management of defunct firm Cobbetts set to face tribunal over alleged incompetence
The former senior and managing partners of Manchester firm Cobbetts, as well as its former finance director, are among eight people who have been referred to the Solicitors Disciplinary Tribunal over alleged incompetence in the demise of the practice.
Land Registry to trial blockchain-backed digital property transfer
HM Land Registry plans to live test a ‘Digital Street’ scheme which will enable the “almost instant” transfer of property ownership, backed by technology including blockchain – the secure distributed ledger underpinning the Bitcoin currency – it has emerged.
Regional practice becomes ABS to facilitate equity swap with Singapore firm
A law firm has acquired an alternative business structure licence to facilitate an equity swap, as part of its bid to integrate with a firm of Singapore lawyers and comply with restrictive local laws on ownership. A regulatory rule change in Singapore made it difficult for the branches of foreign firms to operate.
New APIL chief urges SRA to act over solicitors taking referrals from cold-callers
The Solicitors Regulation Authority needs to do more to crack down on law firms that take cases from companies that generate leads through cold-calling, the new president of the Association of Personal Injury Lawyers has said. He also warned that government PI reforms have been paused, not scrapped.
Barrister disbarred after failing to pay share of fees to chambers
A barrister who dishonestly failed to pay his share of chambers’ fees has been disbarred. Over two years, he failed to inform 4 Kings Bench Walk of the fees he had received for 32 public access and then dishonestly failed to pay the chambers £4,236 which he was legally liable for as a result.
Exclusive: LSB bids to calm senior judges’ worries over its vision for regulatory reform
The Legal Services Board is to meet with the deputy president of the Supreme Court, Baroness Hale, after she expressed the senior judiciary’s concern over its statement last year that the regulatory objective of ‘encouraging an independent, strong, diverse and effective legal profession’ was “problematic”.
Stock exchange investment “needed to bring down law firm costs”
Increasingly demanding business clients and the need to raise capital to invest in technology to bring legal costs down will eventually lead to more commercial law firms listing on stock exchanges, according to a senior corporate adviser. He said listing offered a number of advantages.
High Court ticks off unregulated legal business for not being clearer about its status
The High Court has criticised an unregulated legal business run by a non-practising barrister for “sailing too close to the wind” by failing to be clear in correspondence that it was not a solicitors’ firm. However, service of a claim by the company on behalf of a litigant in person was not invalid.
Tories pledge whiplash reform and “stronger” legal services regulation
The Conservative Party is to press on with reforming personal injury, with a pledge in its election manifesto today to “reduce insurance costs for ordinary motorists by cracking down on fraudulent and exaggerated whiplash claims”. It has also promised to “strengthen legal services regulation”.
