Costs lawyers say solicitors spend too much… Pre-nuptial agreements on the rise…
International firm takes GC to head Asia-Pac expansion
Norton Rose Fulbright has announced its expansion in Asia Pacific with a new office in Papua New Guinea.
The Port Moresby office is headed by Karo Lelai who has been general counsel at Kumul Minerals; his team will be supported by around 50 lawyers at NRF offices in Australia, China, Hong Kong, Singapore, Thailand, Japan and Indonesia.
The firm has been active in PNG for 15 years and has opened the office due to increased demand, especially in the energy, mining and TMT sectors.
Costs lawyers say solicitors spend too much
A survey of costs lawyers reveals that most believe that solicitors frequently break the litigation budget.
The UK-based poll by the Association of Costs Lawyers found that 72 per cent of respondents say solicitors occasionally go over budget while 22 per cent say they always do.
The Law Society Gazette reports that the UK government wants the lord chief justice to review fixed recoverable costs; the last time his reforms were introduced was in 2013.
However, since then, the Association of Costs Lawyers says that many solicitors have failed to “engage with the process” despite potential penalties.
Respondents felt that the management of costs varied depending on the judge hearing the case.
Pre-nuptial agreements on the rise
Once strictly the domain of the rich and famous, pre-nuptial agreements – or Binding Financial Agreements – are on the rise according to a report from the American Academy of Matrimonial Lawyers.
Its poll discovered that more than half of lawyers reported an increase in ‘pre-nups’ among the 18-34-year-old ‘millennial’ generation with 62 per cent of respondents saying that there has been an increase across all demographics in the last 3 years.
"Couples are getting married at later ages these days and are consequently entering their relationships with more to protect in the event of a divorce, “said Joslin Davis, president of the American Academy of Matrimonial Lawyers. “The millennial generation are particularly choosing prenups as the best option to cover separate property holdings, business interests, anticipated family inheritances and potential alimony claims."
