Sticking to the rules – the rise of the in-house litigator

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As the UK’s financial institutions and leaders in commerce and industry embrace a tougher regulatory landscape, Legal Business looks at the movers and shakers in their disputes and compliance teams.

It’s December 2012 and the world’s third largest bank, HSBC, has just entered into a deferred prosecution agreement with the US Department of Justice (DoJ). It has been fined $1.9bn (£1.2bn), then the largest ever bank payout to date, over its inadequate anti-money laundering system.

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Wigs and veils up for discussion by Lady Hale and Lord Neuberger in Supreme Court briefing to mark a new legal year

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Deputy president of the Supreme Court Lady Hale today (2 October) advocated a new approach to attracting youths from diverse backgrounds starting first with the elimination of barristers wigs, in a meeting otherwise dominated by the issue of full-face veils in court.

In a briefing held together with Lord Neuberger to reflect on his first year as president, the outspoken deputy addressed a series of questions over the use of the niqab in court, which dominated headlines in September after Judge Peter Murphy found that defendant Rebekah Dawson must remove her veil when giving evidence. Continue reading “Wigs and veils up for discussion by Lady Hale and Lord Neuberger in Supreme Court briefing to mark a new legal year”

Trial begins in the SFO’s first prosecution under the UK Bribery Act

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The Serious Fraud Office’s (SFO’s) long-awaited first prosecution under the UK Bribery Act began yesterday (23 September), as four men from biofuel investment promoter Sustainable AgroEnergy went on trial in Westminster Magistrates Court.

Four of the men, all former employees of AgroEnergy, which parent company Sustainable Growth is now in administration, are charged with conspiring to conduct a £23m fraud operation in relation to the promotion and selling of bio fuel investment products to UK investors between April 2011 and February 2012, while three of them are also charged with making and accepting a financial advantage contrary to section 1(1) and 2(1) of the act. Continue reading “Trial begins in the SFO’s first prosecution under the UK Bribery Act”

Vision of the future? Former eBay dispute resolution team heads to Europe

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An online dispute resolution (ODR) technology business spun out of eBay is setting up in the UK after receiving a $5m investment from venture capitalists.

Silicon Valley-based Modria, which provides technical solutions for the resolution of around 60 million disputes a year, will be launching its European arm following investment led by early-stage IT venture capital firm Foundry Group. Continue reading “Vision of the future? Former eBay dispute resolution team heads to Europe”

Barristers free to conduct litigation as Bar watchdog ushers in new ‘risk-based’ conduct regime

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While the post-Legal Services Act (LSA) shake-up moves far more slowly for barristers than their solicitor cousins, the Bar continues to modernise at its own pace with new conduct rules unveiled this month heralding significant reforms.

The Bar Standards Board last week unveiled its new code of conduct for barristers allowing self-employed advocates to conduct litigation for the first time and to form associations with non-barristers – two significant steps towards liberalising lawyer regulation. Continue reading “Barristers free to conduct litigation as Bar watchdog ushers in new ‘risk-based’ conduct regime”

Guest post: There is a market for judges emerging – but only winning with the oligarchs is not the answer either

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Moses LJ has set his satirical pen a scribbling in a recent speech reported in the Gazette. It simplifies, as satire must I suppose, but it got me thinking about something that has been bothering me for some time. Before I come to that, let me set the general theme. There is already a market for judicial services. It may not bite as hard or as dangerously as price competitive tendering, and it may not as directly influence the judges, but it is there nonetheless. It works on a number of levels. Forum shopping from judges can be a form of market for influence. Arbitration is a more obviously economic market in competition with the courts. Continue reading “Guest post: There is a market for judges emerging – but only winning with the oligarchs is not the answer either”

Litigation drives growth as Stewarts Law sees PEP break the £1m barrier

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The success of litigation-focused firms is again in evidence today (3 July) as Stewarts Law announced an increase in turnover of 29.5% to £45.2m for 2012/13 and average profits per equity partner of £1.1m.

The litigation boutique has seen its turnover almost quadruple from £11.9m in 2007/08 while net profit has hit £20.5m, following a year of key lateral hires and international expansion. Continue reading “Litigation drives growth as Stewarts Law sees PEP break the £1m barrier”

Legal profession forms united front on proposed cuts to legal aid

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Last month court staff across the country took the unusual step of going on strike in a rare show of solidarity among all strands of the legal profession against the Ministry of Justice (MoJ)’s controversial proposals to slice £220m off the £1.2bn annual criminal legal aid budget.

The strike, while said by lawyers and court officials alike to have caused little disruption, stands out for being part of a series of measures taken by the ordinarily fragmented profession to emphasise its profound disapproval of reforms proposed by justice secretary Chris Grayling, including the introduction of price competitive tendering (PCT), the removal of the automatic right to legal aid for defendants with disposable income of more than £37,500 and the restriction of the right for defendants to choose their own solicitor.

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Still the divorce capital of the world – Supreme Court orders businessman to hand over assets in key ruling

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The landmark divorce battle between Yasmin and Michael Prest has come to an end as the Supreme Court  today (12 June) ruled Prest should hand over properties held by companies under his control.

The ruling – the most significant divorce case to reach the UK’s highest court since the 2010 judgment in Radmacher v Granatino – has been touted as instrumental in establishing whether London remains a key forum for resolving big-money divorce cases. The case has also been watched for its impact on the court’s treatment of the corporate veil, which protects company assets. Continue reading “Still the divorce capital of the world – Supreme Court orders businessman to hand over assets in key ruling”

Libel law to be overhauled as Defamation Bill gets royal assent

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A three-year battle to bring libel law into the 21st century came to a close yesterday (25 April) as the Defamation Bill received Royal Assent.

The Defamation Act 2013 will mean that companies and individuals bringing a libel claim are now required to show serious harm – including serious financial loss for a company – to establish a claim.

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