Law Firm News Roundup: 8th to 14th July

Welcome to the seventh edition of 'Law Firm News' from the SundayLawReview team. The aim of this column is to primarily focus on what happened in UK law firms as reported in online legal publications.


ABS continues to divide the legal community. Scottish Solicitor of the Year Mike Dailly, a member of the UK Financial Services Consumer Panel, has warned of a “significant lowering of Scottish legal standards” once alternative business structures are in operation. Meanwhile, in England & Wales, James Atkin, head of legal risk and compliance at Co-operative Legal Services and an ABS pioneer has stated that law firms have for too long relied upon 'closed clubs of equity partners' to keep fees artificially high. A surprising number of top law firms are eyeing up merger with or acquisition of a firm from another profession. A survey of 111 firms of all sizes found that 34% could envisage such a move in the next three years, while 3% said they would definitely do it.

It appears as if the economic downturn is certainly allowing for more creative approaches to marketing lawyers. A Birmingham law firm behind a consortium bidding to run a new TV station in the city plans to broadcast a regular legal programme. DBS Law is part of Bham TV, which plans to launch in October if it wins approval from Ofcom for a new government-backed TV licence. 


The most interesting articles on developments, compliance and the business of law:
  • UK Government announcing a fee of up to £1,200 for employment tribunals | Law Specials http://t.co/XE5BJhIY 
  • Is the Accountant in Bankruptcy’s office making the same mistakes as the UK Money Advice Service? | The Firm http://t.co/V6WKHBJG
  • QOCS to apply to all PI claims - Justice minister reveals details of key Jackson reform plan | New Law Journal http://t.co/2u6Umyaa
  • Are legal professionals the hardest working | New Law Journal http://t.co/7hkRPgND
  • A heads-up on dispersed law firms | New Law Journal http://t.co/VsbCRJBR
  • Fourth version of QASA is launched | Solicitors Journal: http://t.co/adbykPog 
  • Lawyers may face regulation as MPs reject lobbyist register | Law Gazette http://t.co/1y0DbOUQ 
  • Law applicants unfazed by tuition fee rise Law Gazette http://t.co/pZRYwAIr 
  • The Society of Black Lawyers has called for ‘wholesale reform’ of the Solicitors Disciplinary Tribunal, alleging that its decisions are biased against black and minority ethnic solicitors | Law Gazette http://t.co/Q9au0312 
  • Training review to put values and ethics at "core of legal services" | Legal Futures http://t.co/NSrr78Sx 
  • Mix and match - Law Society backs the idea of a standard professional indemnity insurance proposal form  | Law Gazette http://t.co/0SyxVEhG
  • Complex legal products risk the law's own mis-selling scandal, ombudsman warns | Legal Futures http://t.co/DByaeeoB
  • Bar-solicitor divisions ‘music to government’s ears’ | Law Gazette http://t.co/AI9n75Nf 
  • Consumer panel lift ban on law centres and other not-for-profit advisers charging for work | Legal Futures http://t.co/upfearRL
  • Firms have well-publicised diversity programmes – but they're not working, InterLaw finds | The Lawyer: http://t.co/4BkTwoJ5  

News from the Law Firms: 

Saturday 14th July


Friday 13th July


 Thursday 12th July


Wednesday 11th July


Tuesday 10th July
Monday 9th July




We would like to thank all the publications cited in this week's 'Law firm news'. Direct links to the law firms have been included where firms had been mentioned. Please notify via @SundayLawReview Twitter handle of any errors or omissions.
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Law Firm News Roundup: 1st to 7th July

Welcome to the sixth edition of 'Law Firm News' from the SundayLawReview team. The aim of this column is to primarily focus on what happened in UK law firms as reported in online legal publications.


The Lawyer has reported that firms had been slow in reporting their financial results from 2011-12 with an average of 7% growth.

Law Firm Turnover 2011-12 £m Turnover 2010-11 £m
Addleshaw Goddard 170 161.9
Ashurst 322 303
Berwin Leighton Paisner 246 228.4
Bird & Bird 235 214.6
CMS Cameron McKenna 227.6 227.6
DAC Beachcrof 163.2 0
Dickinson Dees 46.1 45.5
DWF 102 83
Eversheds 366 355
Harbottle & Lewis 18.9 17.5
Herbert Smith 480 465.1
Kemp Little 8.9 7.7
Nabarro 113.4 112.6
Taylor Wessing 206 192.3
Wragge & Co 118.2 113.1



The Law Gazette revealed that while the top-ranking law firms to publish annual financial results for 2011/12 have reported average growth in profit per equity partner (PEP) of 8%, this figure masks wide variations in trading performance which have also been complicated by merger activity.


A survey by accountancy network BDO has revealed some interesting figures about firm mergers. There is a much higher chance of merger among mid-sized law firms than small practices in the coming year but the well of good merger partners is far from bottomless. Startlingly, almost one third of UK lawyers expect their firm to merge within the next 12 months, with that number rising to almost 60 per cent if the timeline is stretched to the next three years.


The most interesting articles on developments, compliance and the business of law:

News from the Law Firms: 

Saturday 7th July
  • Chicago based US law firm Fisher & Lamonica identified a lawyer and his wife as the victims of a suburban freight train derailment that collapsed a railroad bridge http://t.co/4JGPPgau


Friday 6th July


 Thursday 5th July


Wednesday 4th July


Tuesday 3rd July


Monday 2nd July




We would like to thank all the publications cited in this week's 'Law firm news'. Direct links to the law firms have been included where firms had been mentioned. Please notify via @SundayLawReview Twitter handle of any errors or omissions.
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Law Firm News Roundup: 24th to 30th June

Welcome to the fifth edition of 'Law Firm News' from the SundayLawReview team. The aim of this column is to primarily focus on what happened at law firms in UK as reported through online legal publications.


The consultation on a separate legal jurisdiction for Wales which is presently being undertaken by the Welsh Assembly’s Constitutional and Legislative Affairs Committee is drawing a largely negative response. The Law Society has warned that creating a separate legal jurisdiction could ‘dilute some of the benefits’ which accrue to the country from its present alignment with England. Lord Morris of Aberavon, a former attorney general, has questioned what a new jurisdiction would entail and that the cost implication is impossible to estimate. He issued a stark warning to members of the Welsh assembly to make it a priority to think about the cost of creating a separate legal system. Any separation might not be favoured by the present Welsh Assembly administration in light of the recent launch of a long-term strategy to attract thousands of new legal jobs to the country targeting international, London-based law firms to consider Wales as the ‘business location of choice’ for expansion and investment.

The Wall Street Journal recently wrote about an increasingly tough market for recent law graduates in the US. As the graduates in UK prepare for July graduation ceremonies across the country the job market remains stagnant. 

The Solicitors Journal has revealed that personal injury litigation employs the most paralegals, followed by residential and commercial conveyancing. Law firms aim to increase the number of paralegals by 18 per cent over the next five years, based on a survey by Skills for Justice.


Commenting on a recent survey by the legal research company Jures, Legal Futures has reported that four in ten firms have already responded to the new environment of ABS. Some of the measures include the creation of multi-disciplinary practice (MDP), spinning off new services and accessing external investment to finance growth. The Law Gazette stated that while 'The Legal Services Act' (LSA) has so far had ‘minimal’ impact on law firms, but the reforms have acted as a ‘catalyst for change’ and increasing numbers in the profession are keen to explore outside funding. The Solicitors Journal reported that Investors’ interest may have been dampened by recession but some are still tempted by ‘disruptive’ models with more than half of law firms regarding access to private equity as a reason for conversion to ABS. In a very interesting prediction by leading accountancy firm Deloitte, merger activity among the country’s top firms is likely to increase as they grapple with both the Legal Services Act and a stagnant economy.
 

Saturday 30th June


Friday 29nd June


 Thursday 28st June


Wednesday 27th June


Tuesday 26th June


Monday 25th June




We would like to thank all the publications cited in this week's 'Law firm news'. Direct links to the law firms have been included where firms had been mentioned. Please notify via @SundayLawReview Twitter handle of any errors or omissions.
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