Litigation funder raises more cash as SRA advises solicitors on value of code of conduct
The third-party litigation funding market received another boost yesterday after a funder raised a new tranche of money to put into cases. However, the SRA has told Legal Futures that solicitors are not under a requirement to choose funders that comply with the new voluntary code of conduct.
Government, LSB and Law Society join forces to take pre-ABS temperature of high street law firms
The Legal Services Board is joining forces with the Ministry of Justice and the Law Society to ask 2,000 high street law firms how ready they are for the introduction of alternative business structures. It will form part of what is likely to be the largest ever survey of high street legal provision.
DAS buys Everything Legal as it prepares for ABS conversion
Legal expenses insurer DAS has taken the next step in its preparations to become an alternative business structure by acquiring online legal services company Everything Legal, which owns legal advice website Law on the Web. It will give DAS a strong direct route to market.
Battle over BTE insurers' control of fee rates and solicitor choice heads to Court of Appeal
The Court of Appeal is to decide the extent to which legal expenses insurers can control how much they pay non-panel solicitors. ULR Additions has lodged an appeal against the important ruling that before-the-event insurers cannot reject a policyholder’s choice of a non-panel solicitor because of fee rates.
Taking public access seriously
The Bar Council is urging barristers to embrace public access. But, says John Binks, the reality of doing the work will come as a rude shock to many barristers. It can be done, but they will need to revisit the way they do business, including the chambers model.
Law Society revokes 200 solicitors' accreditation scheme membership
The Law Society has recently revoked the membership of 200 members of its accreditation schemes, it has revealed. The society was responding to the surprise expressed last week that it had not appeared to expel anyone from any accreditation scheme over the past five years.
New funder targets smaller disputes with fee structure unrelated to damages
A new third-party litigation funder enters the market today promising to target far lower-value commercial disputes than other providers, and not take a percentage of damages as its fee – with a professional negligence expert warning that lawyers could face legal action for not considering their clients’ funding options.
Regional accountancy firm unveils plan to become ABS
A regional firm of accountants is planning to become an alternative business structure (ABS). Becoming an ABS will allow Spofforths to improve the private client service currently provided by an in-house legal team and in time become a legal brand in its local market.
Peers bid to introduce statutory control of third-party "capture" and tighten up referral fee ban
Peers have launched a bid to curb third-party capture of potential claimants by insurance companies, and also spell out the proposed referral fee ban in greater detail – while carving out an exception for payments to provide a pooled marketing service.
SRA extends PC renewal into 2012
Some solicitors will now not be able to go online to renew their practising certificates until 2012, the Solicitors Regulation Authority has confirmed, amid the chaotic ongoing implementation of its £22m IT system. The deadline to activate mySRA accounts will also be extended.
