Class actions “new normal” for Aussie firms says KWM
Australian companies should be prepared to face class action lawsuits according to King & Wood Mallesons.
The global law firm says that such litigation against Australian firms has become the “new normal” with 35 launched so far this year following 40 in 2015.
The
report notes that 29 of this year’s 35 have been brought in New South Wales where lawyers are able to add an uplift fee of up to 25 per cent and take cases on a ‘no win no fee’ basis. This was already the case in Victoria.
A&O partner to relocate to Asia Pacific as new head of capital markets
Stephen Miller, practice head of capital markets at Allen & Overy in London, will relocate to Hong Kong next month in the newly-created head of capital markets for Asia.
The Magic Circle firm has made some strategic hires and moves within its Asia Pacific offices in recent months as part of a bolstering of its offer in the region following some departures over the last few years.
Law Society rejects call for fee publication
The call for law firms in the UK to publish their fees online has been rejected by the Law Society in England & Wales.
The Legal Services Consumer Panel said that lawyers should publish either fixed fee prices or average fees for each area of work in order to offer transparency for consumers. This, it said would help with comparisons of legal service providers.
However, the Law Society’s CEO Catherine Dixon said that while the society agrees with improving how the legal market functions, price publication would likely have an effect contrasting with the consumer panel’s aim.
“…the proposal there should be regulatory requirements specifying what firms should publish is misconceived. A narrow focus on price - especially average price which could be particularly misleading - is potentially damaging to clients' ability to make informed choices,” Dixon commented.
