Professional & Financial Risks
The end of the low cost insurance scheme?
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have taken disciplinary action against Mr Shay Reches, the firms Coverall and Millburn, and four other related individuals in relation to solicitors' professional indemnity insurance and other insurance scheme failures.
Read moreLitigants in person – approach with caution?
The increase in recent years of the number of litigants in person (LiPs) is largely due to the impact of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (the Act), which came into force on 1 April 2013.
Read moreResolving mistakes in trust deeds and wills – a new, cheaper and quicker approach?
Claims are often made against professionals arising out of errors in trust deeds and wills.
Read moreDon't leave me this way: SRA to split from the Law Society?
From almost a standing start around ten years ago, solicitors are now among the most regulated professionals in the UK.
Read moreStand and deliver: what documents must a solicitor deliver up to its client when asked for 'the file'?
Most compliance managers or complaints partners will experience that sinking feeling when yet another file request lands on their desks, often with the distinct aroma of a 'fishing expedition'.
Read more47% decrease in claims against solicitors – a false sense of security?
2015 saw a 47% decline in the number of professional negligence cases brought against solicitors to 221, down significantly from 418 in 2014.
Read moreStandstills – direct, indirect, connected to, arising out of – has time been stopped?
Defendants are often invited to enter into Standstill Agreements, stopping time for limitation purposes.
Read moreUpdate: CFAs will not continue for insolvent companies
Earlier in April last year, we wrote an article on the insolvency exemption to the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO).
Read morePay the correct court fee – or else!
On 9 March 2015 there was a substantial increase in the fees to issue civil proceedings. As a result, the court fee is now £10,000 to issue a claim worth in excess of £200,000 (or the damages are unquantified).
Read moreLawyer v lawyer: where there's blame there's a claim?
Dissatisfied clients of law firms have probably never had so many ways to complain about their solicitor.
Read moreSmall businesses; large losses?
On Friday the FCA published a wide ranging discussion paper in which it seeks comments on proposed changes to the way in which it, and the FOS, deals with SME businesses.
Read moreLimiting your retainer – success before the Court of Appeal for divorce lawyers
Divorce settlements have attracted a number of professional negligence claims recently.
Read moreBritish Racing no longer in the fast lane: indemnity costs prevail where costs claimed as damages
In a notable departure from earlier case law, the High Court determined last month in Hawksford Trustees Jersey Ltd v Halliwells LLP (In liquidation) [2015] EWHC 2996 (Ch) that the proper method of assessing costs claimed as damages in the context of proceedings was on the indemnity basis.
Read moreLoopholes in the Limitation Act – when will the court finally stop the clock?
Think you're safe after the expiry of the statutory limitation period?
Read moreCyber Attacks on Law Firms on the Up
Law firms are the custodian of clients' intellectual property, commercially sensitive and personal information.
Read moreSection 14A revisited – how much does a claimant need to know?
The Court of Appeal has looked at whether or not a claimant had sufficient knowledge under Section 14A when it was told that a firm had been negligent but not told that any damage may result.
Read moreThe hidden costs of divorce – lawyers beware the price tag!
As a result of the Supreme Court's decision on 14 October 2015 in the cases of Sharland and Gohil, parties in divorce proceedings are now able to re-open their financial settlements where there is evidence of fraudulent non-disclosure.
Read moreENE Dream Will Do
A host of case management powers is available to the Court by virtue of CPR 3.1.
Read moreHope in Hell: Defamatory references to a law firm removed from SolicitorsFromHellUK.com
This week's High Court decision ordering the removal of defamatory statements from a website which 'exposes' solicitors and other lawyers may come as some relief to members of the legal profession.
Read moreLitigation privilege under the spotlight
A Claimant's application for an injunction against the use in litigation of unhelpful pre-application planning advice he had obtained from a local planning authority was dismissed by John Jarvis QC sitting as a deputy High Court Judge.
Read moreTime is running out… clarity on time bar at FOS?
New DISP pro forma final response language seems to allow firms to be more confident when time barring complaints.
Read moreLord Justice Jackson tackles Costs Management
The post-Jackson costs management regime celebrated its second birthday earlier this year.
Read moreLEO intent on including Third Party Debts
Following on from my post earlier this year, it seems that LEO is set to go ahead with plans to consult on its vision of dealing with third party complaints.
Read moreWhere there's a will there's a way? The Court of Appeal awards an estranged daughter £164,000 from her mother's estate
The Court of Appeal this week handed down its hotly debated landmark decision in Ilott v Mitson & Others, causing many to query the purpose of making a will at all.
Read moreIncompetence as a defence? Stick to what you know!
Branching out into an unknown area of law as a favour to one of your well-respected clients may seem like a natural extension to the "all-round client service" that you are accustomed to providing.
Read moreA sting in the tail: ACAS Early Conciliation requirements take their toll on unwary Claimants
The ACAS Early Conciliation Scheme came into force in April 2014 and has been lauded for its part in the significant reduction in Employment Tribunal claims in the last year.
Read moreSection 14A: Equity aids the vigilant!
The recent Court of Appeal case of Chinnock –v- Veale Wasbrough [2015] EWCA Civ 441 is a stark reminder to potential claimants to seek a second opinion if they are dissatisfied with their legal advice, or risk the consequences.
Read moreWe have all the time in the world: the Supreme Court rules that a wife can pursue a financial settlement from her husband 23 years after they divorce
The Supreme Court recently week handed down its decision in Wyatt v Vince, a case which has troubled both the headlines and anyone that divorced in the last decade or two.
Read moreCFAs continue for insolvent companies
In April 2013, the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO) came into force, making the success fee applied to a Conditional Fee Arrangement (CFA), and the After the Event (ATE) insurance premiums, irrecoverable by a successful party to litigation proceedings.
Read moreOxford solicitor receives biggest SDT fine yet
Former solicitor Nigel Harvie has been ordered to pay £305,000 by the Solicitors Disciplinary Tribunal ("SDT") – the biggest fine (by a long way) ever imposed by the tribunal.
Read moreFraud Alert 3 – a new weapon
In July 2014 and February 2015 we warned about fraudsters targeting law firms client accounts, especially on Friday afternoons.
Read moreKey Reforms to CPR Part 36
Part 36 is a crucial tool in litigation. Most claims end in a settlement and the incentives and penalties within Part 36 help to encourage parties to make/accept sensible offers.
Read moreSolicitors' responsibility for conveyancing credit risk denied by the High Court
In a transaction the claimant's own counsel described as 'murky', the High Court has dismissed a negligence claim against solicitors for the alleged failure to make further enquiries regarding the solvency of the vendor:
Read morePart 36 – Make your offers early
A recent judgment has highlighted the importance of early timing in the making of Part 36 offers.
Read moreThe fraudsters are back – they never left!
In July 2014 we warned about fraudsters targeting solicitors to gain access to their client account
Read morePI Insurer Liable to indemnify firm of solicitors in respect of loans made to its clients by a finance company
The Court of Appeal has this week handed down its decision in Impact Funding Solutions Ltd v Barrington Support Services Ltd, which is a case that has sparked a lot of interest since the first instance judgment was delivered back in December 2013.
Read moreCosts warning: unreasonable incurred costs could reduce overall budget
The recent Judgment of Steven Redfern v Corby Borough Council [2014] EWHC 4526 (QB) is one of the first reported appeals against a decision by a Master in relation to a Costs Management Order.
Read moreLEO's future to include Third Party complaints
The Office for Legal Complaints board meeting before Christmas revealed that there is potential for redress for third parties as long as complaints could be 'clearly and tightly defined'. Currently, the Legal Ombudsman will only consider complaints made by a firm's direct client.
Read moreCompareasolicitor.com: Simples?
The SRA has announced that soon law firms may be featuring on comparison websites. The SRA is currently collating information about law firms for use on such websites.
Read moreSFO makes first use of Bribery Act in prosecution for fraudulent UCIS
The SFO's recent prosecution in relation to a fraudulent UCIS ...
Read moreSaved by the Cap: Third Party Costs Order
On 30 June 2014 judgment was handed down by Mrs Justice Rose in Swynson Limited v Lowick Rose LLP (in liquidation)[2014] EWHC 2085 (Ch).
Read moreProposed reduction in solicitors' PII cover rejected
The Legal Services Board has today refused the Solicitors Regulation Authority's proposed reduction in the minimum level of professional indemnity insurance cover from the current level of £2m to £500,000.
Read more"Time's up" – limitation for a claim against a valuer
In a decision handed down last week, the court has provided further guidance on the limitation position for claims against surveyors.
Read moreFinancial Services: Minimising Risk in a Dawn of Opportunity
The Treasury provided an unexpected opportunity for financial advisers earlier this year when they announced that, from April 2015, investors may be able to unlock their pension funds and exercise greater control over investing their hard earned wealth.
Read moreWho dares pays
In Excalibur Ventures LLC v Texas Keystone Inc & Others [2014] EWHC 3436 the Commercial Court has given a warning to third party funders that they can be liable to pay the costs of the winning party where they fund a hopeless case.
Read moreSupreme Court ruling in eagerly awaited "sale and rent back" test case
The Supreme Court faced the time honoured question of what happens in a fraudulent transaction where there are two innocent parties with competing claims…
Read moreCourt's firm stance refusing to extend valuer's duty of care in tort beyond his contractual duty
In the case of Freemont (Denbigh) Ltd v Knight Frank LLP [2014] EWHC 3347 (Ch), a landowner instructed a valuer to prepare a valuation report for a plot of land.
Read moreFCA approves 'independent' use of internal specialist advisers
Ever since RDR 'independence' rules were introduced nearly two years ago, financial advisers have sought clarification on referring clients to internal specialists within their firm for expert advice.
Read moreDon't (Calder) bank on an analogy to the Part 36 regime
When a party makes a Part 36 Offer, the consequences are clear. The rules and sanctions for failure to beat a Part 36 Offer are set out in the Civil Procedure Rules.
Read moreAmmunition for Defendants: Claimants may have to waive privilege to prove mitigation
The High Court recently found in a solicitors negligence claim that a claimant acted unreasonably in (1) settling an arbitration and then (2) refusing to waive privilege such that the Court could assess the reasonableness of the settlement.
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