UK’s Insolvency Service uses new powers to crack down on Covid loan fraud July 25, 2022 The UK’s Insolvency Service has begun using new powers, given to it last December, to crack down on company directors that dissolve their firms to avoid making repayments on government backed loans. The Insolvency Service used its “tough new powers” to ban three individuals from acting as company directors, for dissolving their companies to avoid [...]
Sadiq Khan warns record court backlog has stretched London’s victim support services to ‘breaking point’ July 25, 2022 London Mayor Sadiq Khan has called on the UK government to take urgent action to tackle the court backlog, after warning the capital’s victim support services are “being stretched to breaking point”. In a letter to Justice Secretary Dominic Raab, the Mayor of London said delays of up to five years for rape and sexual [...]
PwC ups pay for newly-qualified lawyers to £90,000 a year July 21, 2022 Big Four accounting firm PwC has upped pay for newly qualified (NQ) lawyers working in its fast-expanding UK legal business to heights of £90,000 a year. The salary hikes will see PwC match the salaries offered by top ranking law firms including London law firm Mischon de Reya, and put it ahead of major firms [...]
Legal market slump could force lawyers back into offices, Keystone Law chief says July 21, 2022 A slump in the market for legal services could see the UK’s top law firms put greater pressure on their lawyers to return to offices and see them begin to lay off newly hired staff, Keystone Law founder James Knight told City A.M. The push could in turn benefit fully-remote law firms such as Keystone [...]
Holiday for part time staff should not be pro-rated, Supreme Court rules July 20, 2022 The UK’s Supreme Court today ruled that a visiting music teacher on a zero hours contract should be entitled to the same holiday benefits as her full-time colleagues. The landmark ruling is set to open the door to claims from hundreds of thousands of part-time and casual workers for the same holiday pay as their [...]
Global split could let EY bring in extra $10bn in Silicon Valley advisory fees, firm chief says July 20, 2022 A global split could let EY bring in an extra $10bn in advisory fees from the world’s major tech companies, by freeing it from rules that block the Big Four firm from both auditing and selling advice to Silicon Valley’s largest firms, EY’s global chief executive has said. EY’s plans to separate out its audit [...]
RPC posts record revenues after sales surge 10 per cent year on year July 20, 2022 City of London law firm RPC today posted record revenues of £149.4m across its global operations, after the firm’s sales jumped 10 per cent on the previous year. The commercial law firm’s record results mark a 36 per cent increase in RPC’s revenues since the financial year 2020 – on the back of surging demand [...]
LV= faces pressure to say whether outgoing chief Mark Hartigan will take payout on exiting firm July 19, 2022 Critics have hit out at mutual insurer LV= over its refusal to say whether it will give outgoing chief executive Mark Hartigan a payout, following his exit from the firm. LV= has so far refused to say whether Hartigan will receive a payout or how much he might take, after the insurer on Monday announced [...]
Clifford Chance partners see pay packets surge to record highs of more than £2m July 19, 2022 Partners at Clifford Chance are set to see their pay packets surge to £2m for the first time in the law firm’s history after the Magic Circle law firm revenues surged by 8 per cent to highs of £1.97bn. Clifford Chance’s equity partners will take home a record £2.04m this year after the law firm’s [...]
UK launches innovative ‘problem-solving courts’ to tackle drug and alcohol related crime July 18, 2022 The UK’s Ministry of Justice (MoJ) has opened three “innovative” new courts specifically for those with substance abuse problems, as part of its £900m plan to tackle drug and alcohol related crime. The new “problem-solving courts” – in Liverpool, Teesside, and Birmingham – will provide services including rehabilitation services and housing support, in a bid [...]