All articles by John Hyde – Page 321
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News
High-cost cases to escape new management rules
Commercial cases worth more than £2m will be exempt from new costs management rules, the judiciary has decided. A document issued today says that the exemption was made in an amendment to the Civil Procedure Rules finalised last week. Costs management is ...
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Status quo is best for Wales
Sometimes, no matter what the Scouts say, it’s best not to be prepared. I spent much of my journey to Wales this morning writing a brilliant piece on why Wales was making a mistake going it legally alone by setting up a separate jurisdiction. As it ...
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QS firms poised for ABS status
Several QualitySolicitors firms are considering moving to alternative business structure status, the group revealed today. Midlands firm QS Parkinson Wright today became the second of its stable to be licensed as an ABS by the Solicitors Regulation Authority. It joined four other ...
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Top-40 firms seek ABS status, research shows
Almost a quarter of the UK’s top-40 firms may seek to join with a non-solicitors practice in the next two years, according to research. A poll of leading firms by accountancy and investment management group Smith & Williamson found nine firms are keen on forming an ...
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SRA denies 2,000 firms in crisis talks
The Solicitors Regulation Authority has denied it has ‘serious concerns’ about the financial stability of 2,000 firms, as new figures show the number of firms declining to the lowest level since it began collecting data. Chris Smyth, former head of legal services for bank Cheltenham ...
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In the dark over Jackson
There are times as a journalist when it feels good to be the only one that knows something. Whether it’s an embargoed explosive report or an ‘off-the-record’ chat, knowledge is power. But there are some times when knowledge sits uncomfortably, when those who should know are ...
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Damages discounts may rise following new evidence - MoJ
Justice minister Helen Grant today said initial evidence may support a rise in the discount rate used to calculate deductions from compensation awards. The government has opened a second part to a consultation with the legal and insurance professions that began last year. It will run ...
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Cobbetts creditors must wait and hope
Further details have emerged of defunct firm Cobbetts’ financial troubles as administrators begin talks with creditors.
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MoJ sets out rules for post-Jackson civil justice system
The Ministry of Justice today sets out in detail how the Jackson reforms will work when the majority come into force on 1 April. In a statutory instrument laid down in parliament, the department sets out the Civil Procedure (Amendment) Rules that will set out the ...
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‘Rolled-up’ hearing for RTA Portal challenges
A legal challenge to halt cuts to personal injury fees will be fast-tracked through the High Court, it was revealed today. The judicial review application by two claimant groups in opposition to new recoverable fixed costs in the RTA Portal has been listed for a ...
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Cobbetts’ debt recovery arm finds a buyer
Administrators today confirmed that the final unsold part of defunct law firm Cobbetts has been acquired.
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Majority against IFA referral move
A decision to lift restrictions on referrals to independent financial advisers was made despite the majority of consultation respondents opposing the move, the Gazette has learned. The Solicitors Regulation Authority decided last November to allow solicitors to refer clients to any financial adviser regardless of ...
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Keystone offers £1 top-up insurance cover
Top-up legal expenses insurance cover with premiums that can be recovered after 1 April are being sold for just £1, the Gazette can reveal. After-the-event (ATE) insurer Keystone Legal is offering a product for cases insured by other legal expenses insurers that run out of cover, ...
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Bypassing lawyers would save £1.5bn, insurer claims
Removing lawyers altogether from the small-claims process would save each motorist an average £60 a year on their car insurance premiums, a major insurer today claimed. In a report into the personal injury sector Aviva called for claimants to go directly to the ‘at-fault’ insurer rather ...
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News
‘Limited trust’ undermines SRA whistleblower plan - Society
Whistleblowers in the legal profession do not trust the Solicitors Regulation Authority enough to agree to report misconduct, the Law Society said today. The Society said there was no pressing need for a cooperation policy to encourage people to report colleagues for wrongdoing. ...
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Small-claims revamp may hit portal
The future of the RTA Portal will become clearer on Friday when a protocol, forms and rules for a new small-claims system are finalised at a meeting of the Civil Procedure Rule Committee. The protocol will enable the system to deal with claims up to £25,000, ...
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News
Would you mourn if your firm was no more?
Just how much attachment do you have to your firm beyond an email address and headed note paper? Do you feel a surge of loyalty every time you walk past the water feature in reception? Do you relish rivals’ struggles and recoil in horror when your ...
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Mid-sized firms feel the pinch in Scotland
Scottish firms are emptying their bank balances as partners face up to reduced profits, a survey revealed today. Research commissioned by the Law Society of Scotland found that median profit was £64,000 per partner in 2012, £7,000 down on the previous year. ...
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News
A quarter of judges escape Grayling’s pension cuts
Judges within 10 years of retirement will be shielded from reform of their pension scheme, justice secretary Chris Grayling today confirmed. Those who were 10 years, or less, away from retirement at 1 April, 2012 – around 25% of the total profession – will continue in their current schemes and ...
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Warnings follow Cobbetts collapse
The demise of top-100 firm Cobbetts should serve as a wake-up call for legal practices with outdated structures and mounting bank debts, legal sector finance experts said this week.