Professional and financial risks
Time 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.
Read moreSRA's compensation fund to provide cover for negligence claims against uninsured firms
A recent article in Legal Futures suggests that it will cost contributors to the SRA's compensation fund £2.5m in the 2014/15 year in order to cover negligence claims against uninsured firms following the ARP's closure last September.
Read moreBrokers' Duties – Business Interruption
Whilst not exactly a reason for brokers to jump for joy, the recent case of Eurokey Recycling Limited v Giles Insurance Brokers Limited has at least reversed the trend of brokers' duties becoming more onerous with each reported case.
Read moreSupreme Court: Insurers counting the costs of negligent will drafting
Insurers beware: where limited funds are available in an estate and there has been a dispute caused by solicitor negligence over a will then the usual 'loser pays' rule may not apply...
Read moreSlapdash SIPPs told to sharpen up by FCA
SIPP Operators have repeatedly been in the headlines since the FCA completed its second thematic review in 2012.
Read moreNo reason to delay October 2014 renewal for solicitors
This is traditionally a busy time of year for insurers, brokers and law firms in the run up to the 1 October deadline for securing professional indemnity insurance cover.
Read moreThe Insolvency Service Complaints Gateway – first year report card
In June 2013 the Complaints Gateway was established to provide a single entry point for regulatory complaints against insolvency practitioners.
Read moreThe perils of skiing, reduced bonuses and missed deadlines
The High Court has recently revisited how loss of chance damages will be quantified in professional negligence claims.
Read moreDenton v White guidance applied
In little more than a month since the Court of Appeal handed down its judgment ...
Read moreEnsuring that where there's a Will, the right way is adopted – and by the right person
The Law Society Gazette has recently reported that claims for mishandling a deceased's estate have more than tripled over the last year, according to figures released by the High Court.
Read moreSolicitors beware! Fraudsters want your client account!
A solicitor's client account has long been a target for fraudsters.
Read moreCourt to give clarity on Mitchell?
In order to try and provide much needed clarity on the effects of the Mitchell case on case management, Lord Dyson, the Master of the Rolls, is set to hear three appeals over two days on 16 and 17 June in respect of:
Read moreArck advice could lead to a flood of claims
There have been some recent developments in the on-going saga involving Arck LLP, Yorkshire bank and around 400 disgruntled investors.
Read moreNet contribution Clause: Court of Appeal Guidance
The recent Court of Appeal decision in West v Ian Finlay and Associates has confirmed that a properly drafted net contribution clause ("NCC") is a valid and enforceable contractual term.
Read moreCourt of Appeal confirms no general duty to advise on sophisticated tax planning
Last year the High Court's decision in Mehjoo v Harben Barker gave rise to plenty of lurid headlines.
Read moreLitigation privilege in liquidations
The recent Court of Appeal decision in Rawlinson and Hunter Trustees SA & others v Akers & another [2014] serves to emphasise that third party reports commissioned by liquidators to enable them to consider whether litigation should be commenced ...
Read moreAnnuities – what next for providers and advisers?
The FCA has published its of Thematic Review of Annuities having conducted a substantive review of the annuity market.
Read moreWhen is a solicitor acting as a solicitor?
The High Court has recently given some guidance on whether, when operating its client account, a firm is acting in its capacity as a solicitor.
Read moreMitchell: No excuse for a 'common sense' blind spot
A recent decision by Mr Justice Stuart-Smith in the TCC in The Governor & Company of The Bank of Ireland -v- Philip Park Partnership illustrates that it is possible to push strict emphasis on CPR compliance too far.
Read moreFOS is the one and only
After what has felt like an interminably long wait, the Court of Appeal has today allowed the appeal in Clark v In Focus.
Read moreSEC ups the ante on audits of Chinese companies listed in US
In its "Initial Decision" No. 553, a US Securities and Exchange Commission administrative law court recently concluded that the Chinese affiliates of five international accounting firms breached section 106 of the US Sarbanes-Oxley Act 2002 ...
Read moreStay connected and subscribe to our latest insights and views
Subscribe Here