LeO presses ahead with bid to cover claims managers and unregulated legal providers
The Legal Ombudsman is to press ahead with bids to take over complaints against claims management companies, and also extend its jurisdiction to unregulated groups such as will-writers and employment advisers.
'Buy and build' private equity firm targets legal market
‘Buy and build’ private equity firm Sovereign Capital has become the latest to outline its intention to invest in the law, Legal Futures can report. It is looking for a legal business that can act as a consolidator in its part of the market.
High Court upholds legitimacy of oral retainer between solicitor and client
It is not essential that the retainer between solicitor and client is in writing, the High Court has ruled. London firm Fladgate successfully sued client Lee Harrison for £63,332 in unpaid fees for work done in a corporate restructuring.
LawVest unveils fixed-price law firm combining solicitors and barristers
A groundbreaking business law firm operating entirely on fixed fees and featuring a mix of leading barristers and solicitors opens today, aiming for a market that it claims has been “protected from real competition for too long”. LawVest also plans to become an ABS.
Which? enters HSBC panel row as bank gives way over terms of undertaking
Consumer group Which? has added its voice to critics of HSBC’s new conveyancing panel, while the pressure on HSBC has led to the bank revising the controversial undertaking demanded of non-panel solicitors.
Divisions over advocacy scheme harden as regulators face battle to keep it alive
Divisions over quality assurance for advocates have deepened after solicitors were advised not to take part in a Bar Standards Board survey on the issue, while specialist Bar associations have been urged to oppose QASA as well.
News in brief: LeO apology, barrister ‘first’, interest on costs ruling and CLC chief leaves
Our latest news round-up reports on an apology over the sudden change in the Legal Ombudsman’s address, which affects all lawyers, a unique agreement between a law firm and a barrister, a crucial ruling on interest on costs, and the exit of the CLC’s chief executive.
Conveyancing regulator warns HSBC and other lenders about restricted panels
The Council for Licensed Conveyancers has waded into the row over HSBC’s 43-strong conveyancing panel, expressing concern that “the limited size panel risks inadvertently restricting consumer choice and distorting competition in the conveyancing market”.
Spin-out firms merge to create largest debt recovery practice
Debt recovery law firms Drydens Lawyers and Fairfax Solicitors, both created by spin outs from national firms, are to merge creating the UK’s largest debt recovery and debt litigation legal practice. It will have a workforce of around 300 and turnover of approximately £15m.
SRA warns solicitors off SDLT evasion schemes
The Solicitors Regulation Authority has issued a formal warning to lawyers to think twice before becoming involved in stamp duty land tax schemes. It will look “very closely” at the conduct of any firm actively involved in such schemes,
