Finance


High Court orders partner to sell his share of law firm

8 November 2018

The High Court has ruled that a partner in a law firm who paid himself £16,500 after he had left the firm and was “effectively competing with it” breached his director’s duties.


Biggest client’s “IT disaster” tipped firm into administration

29 October 2018

A “disastrous IT failure” suffered by a law firm’s biggest client tipped it over the edge into administration and a pre-pack sale to fast-growing national firm Taylor Rose TTKW.


Partner fails to strike out bank’s claim under guarantee

29 October 2018

A former partner of a London firm that went into liquidation has lost his bid to strike out Barclays Bank’s claim to enforce a guarantee he provided to cover a loan and overdraft.


Bank backing for listed firm’s acquisition ambitions

16 August 2018

Knights Group – the Staffordshire-based law firm that listed in June – has secured bank funding to support its strategy to complete at least three acquisitions by April 2020.


Client bid to stop £33,000 repayment to law firm fails

31 July 2018

A client who received a mistaken payment of £177,000 from a law firm and only paid back £144,000 has failed to overturn a judgment in default.


Appeal court rejects firm’s £4.5m claim over “missing referrals”

27 July 2018

A personal injury law firm has lost its appeal against a High Court ruling that dismissed its £4.5m claim over referrals from an insurer that did not materialise.


Court of Appeal cuts QC’s £1m penalty for tax late payment

23 July 2018

A QC fined more than £1m for the late payment of both income and inheritance tax over several years has had the sanction reduced by 80%.


Law firm insolvencies rising sharply, research finds

13 June 2018

Insolvencies in the legal sector are set to double this year if trends seen in the first quarter of 2018 continue, indicating a possible downturn in the fortunes of law firms, it has been claimed. The figures also indicate that law firms may be waiting too long before seeking help.


Call for action as firm hit by big VAT demand for electronic property searches

11 June 2018

The risk of solicitors being landed with hefty VAT bills for electronic property searches has become a reality for at least one law firm, which has now received a demand from HM Revenue & Customs for tens of thousands of pounds. It has heightened the call for the tax treatment of postal and electronic searches to be made consistent.


Payment processor replaces conveyancers in “UK’s first fully digital mortgage settlement”

31 May 2018

A payment processor has taken the place of conveyancers in handling the finances on completion day in what has been claimed to be the UK’s first fully digital mortgage settlement. It could spell the end to clients waiting with the removal van in the afternoon for money to be transferred between lawyers.

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Blog

14 November 2018

How accessible is your recruitment process?

Recognising the benefits of employing disabled people in the legal profession, and attracting talented disabled candidates is a great start, but of little use if your recruitment process is not inclusive nor accessible.

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