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As many as 2,550 or 31 per cent of law firms across the UK are 'at risk' of failure in the next 12 months, research by the Association of Business Recovery Professionals or R3 has suggested.
Chris Grayling, the Justice Secretary has made a U-turn over his controversial plan to deny defendants on legal aid the right to choose their solicitor.
City law firms have joined the attack on the government's legal aid cuts, warning that they 'pose a potentially irreversible risk to the standards and reputation of English justice'
The concept is not an “anti-solicitor model”, he argued, but is in response to government cuts and changes to the legal landscape.
Many small firms are better placed than they realise to thrive in the legal market, according to the solicitor who created the largest law firm network in the country.
Law Society chief executive Desmond Hudson has questioned the Solicitors Regulation Authority's decision to disclose that 30 leading firms are in serious financial trouble.
Around 30 of the top 200 law firms in England and Wales are under intensive supervision from the Solicitors Regulation Authority (SRA) because of fears about their financial stability.
Senior judges led by the lord chief justice and master of the rolls have weighed in to the fevered debate about Transforming Legal Aid by issuing their own sharply worded critique of the plans.
The government's 'unworkable and damaging' planned legal aid changes could push the justice system 'beyond breaking point to a devastating collapse', the Law Society has warned in its response to a Ministry of Justice consultation now ended.
The Ministry of Justice (MoJ) has published its plan for a new legal services review that aims to simplify the regulatory framework governing lawyers.
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