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21 February 2014
Issue: 7595 / Categories: Legal News
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Financial fitness

Law firms must shape up

“Don’t milk the cash cow”, have clear monthly accounts, make sure clients pay promptly, and maintain a good relationship with your bank, is just a selection of the advice on offer from Brent Wilkinson, consultant at BDO, writing in this week’s issue of NLJ. He explains how to make sure a law firm is “financially fit” and avoids failure. Recent research found more than 30% of UK law firms are at risk of failing in the next 12 months.

Issue: 7595 / Categories: Legal News
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MOVERS & SHAKERS

Clarke Willmott—Alexia Haines & Kelsey Wells

Clarke Willmott—Alexia Haines & Kelsey Wells

Clarke Willmott strengthens Birmingham private client team with double appointment

NLJ Career Profile: Hugo Plowman, Mishcon de Reya

NLJ Career Profile: Hugo Plowman, Mishcon de Reya

From global fraud cases to fishing off-grid, Mishcon de Reya’s chair of dispute resolution Hugo Plowman discusses mentors, management switching off

Maguire Family Law—Jennifer Hudec, Ciara Florey, Alice Ferguson & Ruth Wynn

Maguire Family Law—Jennifer Hudec, Ciara Florey, Alice Ferguson & Ruth Wynn

Maguire Family Law announces partner promotion and new hires amid a record year for enquiries

NEWS
Defendants who make unsupported complaints about their lawyers risk losing legal aid while confiscation proceedings continue without representation
Lawyers advising Russian clients face different sanctions restrictions across the UK, EU and US, despite their shared objective of increasing pressure on Russia
Artificial intelligence does not demand a wholesale rewrite of liability law, argues an article challenging claims that new technology has created an accountability gap
Restrictions on workplace non-disclosure agreements could make settlements slower, more complex and more expensive when reforms expected in 2027 take effect
Private prosecutors face closer scrutiny under Crown Prosecution Service guidance designed to strengthen accountability and consistency when intervention is requested
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