Market monitor

Four law firms have so far signed up to a groundbreaking consortium marketing for litigation work that also involves block-rated ‘day one’ after-the-event insurance for commercial work.

Four leading legal charities have urged the government to delay next year’s whiplash reforms over fears that litigants in person and the organisations supporting them will be overwhelmed by the new regime.

Registered European lawyers will have a grace period until the end of next year to sort out how they will continue to practise in the UK, even if there is a no-deal Brexit, the government said last week.

Shares in Anexo Group, the AIM-listed business that owns Liverpool law firm Bond Turner, reached a new high yesterday after announcing that it expected profits to exceed market expectations.

Slater & Gordon – the first law firm owned by a hedge fund – made a small profit in its first year of independence from its one-time Australian parent, it revealed yesterday.

The Law Society is warning that turnover from legal services would slump by £3.5bn in the event of a no-deal Brexit. It was particularly concerned about the fate of future UK lawyers.

The civil servant overseeing the Civil Liability Act reforms yesterday declared his confidence that the 6 April 2020 target for implementation would be met. But he stressed that “ministers will not rush this”.

DWF, the world’s largest listed law firm, revealed that going public cost the business £12.6m while also slowing down its acquisition activity. Revenue for the year to 30 April grew 15% to £272m.

The High Court has rejected a libel claim by a woman who an in-house lawyer suggested in an email to a court official had potentially acted fraudulently.

Listed law firm Gateley has made good on its intention to increase the non-legal services it offers by buying a leading land referencing consultancy.

Cancer Research UK, the biggest recipient of legacies in the country, has launched a free online will service with a leading unregulated will writer, it has emerged.

London law firm Child & Child went insolvent because of “severe cash flow difficulties” caused by excess office space, Brexit hitting a key practice area, high salary costs, and clients taking longer to pay.

Gordon Dadds’ share price rose today on the back of positive results that show it has met its goal to double revenue in the three years after listing 12 months early.

Wavelength Law, the pioneering alternative business structure of legal engineers, has been bought by City firm Simmons & Simmons. It will introduce new services and solutions for Simmons’ clients globally.

California could follow the example of England and Wales in embracing non-lawyer ownership of law firms, potentially breaking the dam of opposition in America.