Tuesday, November 18, 2014

Legal Advice Online - for FREE...? Really??

In an increasing trend law firms seem to be offering their services for virtually no cost in an attempt to engage with consumers and sell them something today tomorrow or sometime soon.

Maybe its an enticement to get people through the doors but you have to wonder how firms that do this actually make money.

I do like the wise old legal advice owl shown here though; www.online-legal-advice.co.uk - clever!!


Rob Terry steps down as chairman of Quindell

Following a flurry of media activity aimed at explaining why Rob Terry and others borrowed money to buy back shares in Quindell, the man himself has quit. This has left many questions unanswered but one question did pop up on an FT.com blog post today.

What would the Solicitors Regulation Authority (SRA) do if a firm like Quindell ever went under..?

They own law firms that manage up to 100,000 claims between them. How would the SRA cope if this type of ABS entity went belly up..? I can only imagine and let us hope that it never comes to pass.


Tuesday, May 13, 2014

Quindell .. doubts emerge

Quindell have been busy snapping up law firms (Silverbeck Rymer, Pinto Potts) and claims management companies (Accident Advice Helpline) during the last 2 years.

Their relentless march continued this year with a rumours they were looking for a clinical negligence firm, they were also said to be building a claims "factory" in Leeds.

If you were connected with them in any way you could look forward to a solid high volume conveyor belt future. In the personal injury world that is an incredibly tantalizing prospect right now.

But then came the "share scare" last month.

Alleged shorting.

Some difficult questions raised - and answered in fairness. A very bullish reply to the brouhaha from Quindell.

I hope that what glitters is in fact gold. We need Quindell to bring stability to the industry and to give hope to those working in this wonderful sector. Its a big boys game nowadays and all we can hope is that the big boys deliver.

Thursday, February 20, 2014

Sexual Abuse Legal Claims On the Increase

Sexual abuse claims soar following the Savile revelations 
Personal injury firms have seen one growth area during the turmoil of recent years. Claims for sexual abuse compensation are soaring after the recent publicity given to Jimmy Savile and other high profile individuals.
Lawyers are dealing with an increase in enquiries as victims are spurred on by the openness surrounding the subject. After years in the shadows people are starting to discover they are firstly not alone but secondly also have legal rights.  
Claims can be made against the Criminal Injuries Compensation Authority (or CICA sometimes confusingly referred to as the criminal injuries board)   
This can only be a good thing for the victims and with awards of up to £22000 possible for such claims, it is no wonder that lawyers are taking an interest when you consider the % contingency fee that can apply. Legal costs sadly are not recoverable from the CICA but be aware they very often can be if a case is made against an organisation, local authority or a business.

Monday, November 25, 2013

Walker Morris to close their PI department inside 12 months

Rather shocking news given the size of this firm and their history in the growth of the personal injury market. WM Solicitors are (it is reported) to shut their PI unit inside 12 months and will also be closing / selling their website Distinctly Legal to concentrate on "core services".

This will surprise many in the industry but when you consider the following:

-- Conveyor belt LEI work is being retained by the insurers utilising new ABS vehicles (didnt the SRA say that could never happen?)

-- Solicitors - even the biggest ones - cannot market PI independently on the same mass / volume level that they have enjoyed previously. Its just too expensive

Factor in the substantial cut in fees introduced by the recent reforms and for many firms you have a recipe for disaster.

We knew it was coming, well ..... its arrived.