The Manchester Business and Property Courts Forum is delighted to welcome Cockerill J, the Judge in charge of the Commercial Court and the supervisory Judge of the Circuit Commercial Court.
Cockerill J will be joined by Richard Chapman QC of 18 St John Street and Richard Cameron-Williams of BDO who together will consider the vexed subject of business interruption claims post the Supreme Court’s decision in The Financial Conduct Authority v Arch Insurance (UK) Limited and Others [2021] UKSC 1 including issues of coverage, quantification and proof of loss and claims against professional advisors arising from a lack of coverage.
This will be a hybrid event - in-person in Manchester (limited numbers) and by Zoom
The last eighteen months have been a tumultuous time for law firms in the United Kingdom (UK). In a profession that is typically office-based, firms had to adjust their standard operational practices and remote working became unavoidable. The regular business of running a law firm changed overnight.
Despite the considerable disruptions to standard law firm operations, many small UK law firms have made progress to overcome some obstacles. However, on the horizon, key issues remain that will need longer-term solutions for these firms to compete.
Five key challenges for small law firms in the market today are:
With the latest figures standing at over 10,000 individual UK solicitors and more than 5,000 law firm departments ranked each year – just what can firms do to ensure they stand out? And how is the market currently using the Chambers and Partners Guides?
Join LexRex Communications on Thursday 7th October 1pm – 2pm for an exclusive online panel session with the editors of the Chambers and Partners UK Solicitor's Guide and High Net Worth Guide.
Chambers and Partners has been one of the leading sources of legal market intelligence for over 30 years. Their 85 experienced researchers annually rank law firms and solicitors in the UK, providing a wealth of localised knowledge and trusted market insight.
The session will focus on Chambers and Partners’ research methodology and approach to submissions; providing detailed insights on how law firms can create submissions that showcase their strengths and maximise their opportunities for listings and moving up in the rankings.
The session will also look at how directories being used as a point of reference for potential clients; and how firms can utilise their listings as an integral part of their broader growth and marketing strategy.
Get insights, hints and tips and a chance for live Q&A with the panel. Spaces are limited soclick hereto register your place.
The role of the lawyer is multi-faceted, encompassing legal advice, risk mitigation and project management. However, often, far beyond their remit of client representation, they take on the responsibility of running a client account and making payments.
If you reread that sentence, it may seem, frankly, illogical. Lawyers are not bankers. The years of training to qualify as a practicing solicitor don’t equip them to manage money, and they shouldn’t have to.
Managing payments comes at a price, both in time and money. Clients often chase on the whereabouts of funds, straining the lawyer’s time as well as their relationship. Law firms are unable to charge an appropriate fee for the service, including the accompanying level of risk, because it is perceived as part of their responsibility. In many instances, the administrative costs of handling these transactions are the first to be written off. This means that valuable time is spent on risky, complicated processes that generate no financial benefit for the firm.
Every year, there are hundreds of cases of the misuse of client funds, whether intentionally or through human error. In recent years, legal regulators have started to address this point with stricter rules for handling client money. Notably the SRA made changes to their account rules in 2019 and made way to outsource the function to a Third-Party Managed Account provider.
Rather than spending unbillable time doing manual, high risk work, outsourcing the handling of money to a trusted FCA regulated payments company ensures lawyers are focused on the work they trained to do, and, critically, safeguards both the client and the firm. Many leading firms are already benefitting from this.
Shieldpay works with over 30 of the top 100 law firms and is leading the way in digital payment solutions for legal services. We offer Third-Party Managed Account, paying agent and escrow solutions.
Did you miss the live stream? Want to see the reactions of the winners? Hear why the winners were chosen and the exciting work taking place in the Manchester Legal community?
You can watch the recording of the Manchester Legal Awards right here!
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