“… If someone is completing on Friday it does not help them if their solicitor ceases to practise on Thursday …” Some legal practices are only now, with one week to go, receiving premium quotes for their 1 October 2010 professional indemnity insurance renewal. It is nail-biting for them as they may have only one quote – it is…
…Recessions bring out the worst in people… A recession has a way of exposing weaknesses in legal drafting. As practices try to respond to the economic climate, management teams consult the fine print of their partnership deed or LLP members’ agreement, and may find it wanting. This article describes and explains the importance of a…
“… An intending purchaser who is aware of the firm’s difficulties should not purchase the firm from the partners, even if no winding-up or bankruptcy petitions have been presented …” (First published in the Law Society Gazette on 2 August 2007) Partners of an insolvent law firm cannot continue to practice indefinitely. Leaving aside that…
