Small and medium-sized law firms keep an average of £354,000, or 60% of their funds, squirreled away in business savings accounts, bank research has revealed. Charities invest the most, 77% of total funds, in business savings and the national average is 57%, according to research by Hampshire Trust Bank. More than one quarter of law firms said they were increasing the amount of cash in their firms, to build a cash buffer against unpredictable times following the EU Referendum.
06 October 2016
Law firm savings
MOVERS & SHAKERS
Switalskis—five appointments
Firm expands national abuse compensation team
Mathys & Squire—nine promotions
IP firm announces new partners and senior promotions across UK offices
Carey Olsen—five promotions
Carey Olsen promotes five lawyers to the partnership
NEWS
Executors may be overlooking billions of pounds in estate assets hidden in forgotten investments and misplaced share certificates
Britain’s booming non-surgical cosmetics market is operating in what some critics describe as a regulatory ‘Wild West’
Family contact disputes are becoming an increasingly prominent feature of Court of Protection litigation
Material obtained through US discovery applications may have a much longer legal life than many litigants realise
English courts are developing a distinctly practical approach to sanctions disputes arising from Russia’s invasion of Ukraine
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