Law firms face pressure to cut costs and offer ‘no win, no fee’ payment schemes March 24, 2022 An overwhelming majority of the UK’s biggest law firms are now facing pressure to cut the costs of their services, according to data shared exclusively with City A.M. Nine-in-ten partners in law firms with turnovers of more than £500m a year said they are facing pressure to reduce costs and use different billing arrangements, a [...]
Civil Court delays will harm UK businesses, legal experts say March 22, 2022 Legal experts have warned that record long civil court delays will create complications for UK businesses, after new data showed claimants must now face 74 weeks waiting times before their cases are heard. Claimants are being forced to wait for more than a year for their cases to be heard in civil courts, new data [...]
Ollie Phillips: Key returnees could spice up England v Wales clash February 24, 2022 It’s not one of the hardest predictions I have had to make during this year’s Six Nations but I just don’t see any result other than a comfortable England win when they play Wales on Saturday. A large part of that, I think, comes down to Eddie Jones now picking a team around his No10 [...]
Exclusive: World’s biggest litigation funder Harbour strikes £2m deal with sports lawyers to fund ‘no win, no fee’ FIFA lawsuits February 24, 2022 Private litigation funder Harbour has struck a £2m deal with specialist law firm Morgan Sports Law, through which Harbour plans to cover footballers’ legal costs in employment disputes put forward on a “no win, no fee” basis. Harbour will cover any legal costs in disputes between professional footballers and their employers, and take a cut [...]
You are a claimant unless you opt out: £2.2bn damages claim filed against Facebook owner Meta on behalf of 45m Brits February 14, 2022 A multi-billion pound damages claim was filed late last night against Meta, formerly Facebook Inc., on behalf of UK Facebook users, for abusing its dominant market position by imposing unfair terms, prices and/or other trading conditions on users. This is the first UK case against Facebook to be filed at the Competition Appeal Tribunal (CAT) [...]
Scandal ridden Credit Suisse sees £1.6bn loss in latest quarter February 10, 2022 Credit Suisse's latest financial results were dragged by legal woes and a slowdown at the bank's investment and wealth management arms.
Forced sale for £1: Govt attempt to unwind £8bn privatisation deal by forcibly buying back 57,400 properties is turning ugly February 3, 2022 The Ministry of Defence has been given “two weeks” to avoid legal action by Annington Homes as the government seeks to unwind one of the Government’s biggest ever privatisation deals. Annington, a portfolio of 57,400 military properties, valued at more than £8bn this year, was sold off by the MoD in 1996 in a move [...]
Financial services litigation in 2022: Push payments, crypto fraud, ESG and a jump in interest rates January 22, 2022 Push payments, cryptocurrency fraud and a jump in interest rates could lead to more litigation in the financial services sector in 2022, an industry expert discussed with City A.M. this weekend. One of the biggest drivers of financial disputes this year could be authorised push payment fraud. Authorised push payment fraud involves fraudsters duping consumers [...]
MP calls for windfall tax on libel lawyers to protect journalists from “lawfare” January 21, 2022 An MP has said a windfall tax on libel lawyers should be used to create a “defamation defence fund” to protect journalists from being silenced by oligarchs. In a debate on Thursday, over the use of “lawfare” and costly libel actions to silence British journalists, Labour Party MP Liam Byrne said “the truth is under [...]
Court orders ex-chairman of Kazakh paper company to return £120m worth of cash and luxury London properties December 22, 2021 A Kazakh paper and cardboard manufacturer has won a London court order against its former chairman to return £122m, including four luxury London properties worth £50m, in damages following fraud. Yesterday a judgement was reached in the long standing case, between Kazakhstan Kagazy Group and its former chairman Maksat Arip. The Group has been trying [...]