Surrey Lawyer Summer 2017

Summer Issue 2017

SurreyLawyer LOUISE HARRHY

Understanding Inheritance Taxthe residence nil rate band (RNRB) (see Page 20)

Inside this issue:

■ Conveyancing Focus ■ Finance ■ The Legal Walk 2017

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Contents Intro PUBLISHER Benham Publishing Limited 3tc House, 16 Crosby Road North, Crosby, Liverpool L22 0NY Tel: 0151 236 4141 Facsimile: 0151 236 0440 email: admin@benhampublishing.com web: www.benhampublishing.com

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List of Officers

5

President’s Jottings

7

CEO Report Local Issues

8 -17

ADVERTISING AND FEATURES EDITOR Anna Woodhams

STUDIO MANAGER John Barry

Local News Management

18

Retirement Strategies for Law Firms

19

Protecting IP and confidential information

ACCOUNTS Joanne Casey

Finance

MEDIA No.

20

Understanding Inheritance tax-the residence nil rate band (RNRB)

1515

PUBLISHED

Articles

June 2017 © The Surrey Law Society - Benham Publishing

LEGAL NOTICE © Benham Publishing.

None of the editorial or photographs may be reproduced without prior written permission from the publishers.

Benham Publishing would like to point out that all editorial comment and articles are the responsibility of the originators and may or may not reflect the opinions of Benham Publishing. No responsibility can be accepted for any inaccuracies that may occur, correct at time of going to press.

Benham Publishing cannot be held responsible for any inaccuracies in web or email links supplied to us.

21

Costs Lawyers and the Question of the False Economy

22

Mooting Competition Grand Final.

23

The ILBF Project

24

Preventing client leakage – key aspects that ensure financial strength for the firm Events

25

DISCLAIMER The Surrey Law Society welcomes all persons eligible for membership regardless of Sex, Race, Religion, Age or Sexual Orientation.

All views expressed in this publication are the views of the individual writers and not the society unless specifically stated to be otherwise. All statements as to the law are for discussion between member and should not be relied upon as an accurate statement of the law, are of a general nature and do not constitute advice in any particular case or circumstance.

Members of the public should not seek to rely on anything published in this magazine in court but seek qualified Legal Advice.

SLS Events Diary for 2017

Conveyancing Focus 26 27 28 29

Think Of Us As Part Of You…!

LEAP celebrates 1000 UK firm milestone Tailored Regulation from a Specialist TWPS expands portfolio to include unexploded ordnance devices search Financial

30

COVER INFORMATION The cover image: Louise Harrhy, Hart Brown Solicitors.

“About half the practice of a decent lawyer consists of telling would-be clients that they are damned fools and should stop.”

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Does our attitude affect profitability?

Copy Deadlines

32

Autumn 2017 Issue Winter 2018 Issue Spring 2018 Issue

4th September 5th December 5th March

Anyone wishing to advertise in Surrey Lawyer please contact Anna Woodhams before copy deadline.

Email: Tel:

anna@benhampublishing.com 0151 236 4141

Legacy Canine Care Card Book Review 33

INTERNATIONAL TRUST LAWS PRINCIPLES OF MEDICAL LAW

34

COMPANY DIRECTORS, BANK FAILURE

Anyone wishing to submit editorial for publication in Surrey Lawyer please contact Sue Seakens, before copy deadline.

Email: Tel:

sueseakens@surreylawsociety.org.uk 01344 860830

SurreyLawyer 3

Officers

KEY OFFICERS

COMMITTEE MEMBERS

LAW SOCIETY COUNCIL MEMBERS

PRESIDENT

DANIEL CHURCH TWM Solicitors LLP. 65 Woodbridge Road, Guildford GU1 4RD DX 2408 Guildford 1 Tel: 01483 752700 Fax: 01483 752899 Email: daniel.church@twmsolicitors.com

SUSHILA ABRAHAM S Abraham Solicitors 290A Ewell Road, Surbiton KT6 7AQ Tel: 020 8390 0044 Email: office@sabrahamsolicitors.co.uk

MARK GOUGH Solicitor 22 Woodlands Road, Little Bookham, Surrey KT23 4HF Tel: 01372 230786

MAREK BEDNARCZYK Hart Brown Resolution House, Riverview, Walnut Tree Close, Guildford, GU1 4UX DX 2403 Guildford 1 Tel: 01483 887704 Fax: 01483 887758 Email: msb@hartbrown.co.uk

Email: mark@markgoughlaw.com

VICE PRESIDENT JAMES SCOZZI 1 Fetter Lane London EC4A 1BR DX: 14 London Chancery Lane

WIN CUMMINS 18 Station Approach, Virginia Water GU25 4DW DX 94652 Virginia Water

Tel: 020 3440 5506 Fax: 01923 219416 Email: jscozzi@elitelawsolicitors.co.uk

DEPUTY VICE PRESIDENT VICTORIA CLARKE Watson Thomas Solicitors Bryslan House Upper Street Fleet GU51 3PE Tel: 01252 622422 Email: vclarke@watson-thomas.co.uk

HON SECRETARY KIERAN BOWE Russell-Cooke Solicitors Bishops Palace House, Kingston Bridge,

MARALYN HUTCHISON Kagan Moss & Co 22 The Causeway Teddington TW11 0HF Tel: 020 8977 6633 Fax: 020 8977 0183 Email: maralyn.hutchinson@kaganmoss.co.uk GLORIA MCDERMOTT 18 Station Approach, Virginia Water GU25 4DW DX 94652 Virginia Water Email: gloria.mcdermott@virginmedia.com JULIE ROWE Russell-Cooke Solicitors Bishops Palace House, Kingston Bridge, Kingston upon Thames, Surrey, KT1 1QN DX 31546 Kingston upon Thames Tel: 020 8541 2023 Email: Julie.Rowe@russell-cooke.co.uk

Kingston upon Thames, Surrey, KT1 1QN DX 31546 Kingston upon Thames Tel: 020 8541 2041 Fax: 020 8541 2009 Email: kieran.bowe@russell-cooke.co.uk

IAN WILKINSON The Castle Partnership 2 Wey Court, Mary Road, Guildford, Surrey GU1 4QU Tel: 01483 300905 Email: ian@castlepartnership.co.uk MUMTAZ HUSSAIN The Legal Consultant M: 07983 488 351 mumtaz@thelegalconsultant.org.uk

HON TREASURER NICK BALL Howell Jones Solicitors 75 Surbiton Road, Kingston upon Thames, Surrey, KT1 2AF DX: 57715 Surbiton Tel (Office): 020 8549 5186 Tel (Fax): 020 8549 3383 Email: nick.ball@howell-jones.com

GERARD SANDERS Hart Brown Resolution House, Riverview, Walnut Tree Close, Guildford, GU1 4UX DX 2403 Guildford 1 Tel: 01483 887704 Fax: 01483 887758 Email: gts@hartbrown.co.uk

JOHN PERRY Palmers Solicitors 89-91 Clarence Street Kingston upon Thames, KT1 1QY DX 31524 Kingston upon Thames Tel: 020 8549 7444 Fax: 020 8547 2117 Email: john.perry@palmerssolicitors.co.uk CHIEF EXECUTIVE & MAGAZINE EDITOR Sue Seakens Surrey Law Society 18 Station Approach, Virginia Water GU25 4DW Web: www.surreylawsociety.org.uk DX 94652 Virginia Water Tel: 01344 860830 Fax: 01344 428511 Email: sueseakens@surreylawsociety.org.uk

SUB COMMITTEES CONVEYANCING & LAND LAW Win Cummins (Chair) Maralyn Hutchinson Ken Seakens* STRATEGIC PLANNING & FINANCE Kieran Bowe Nick Ball Daniel Church James Scozzi Marek Bednarczyk Ken Seakens* (non-committee member) SOCIAL Daniel Church (Chair) Gloria McDermott John Perry* Julie Rowe Ken Seakens* *Non-Committee Member.

YOUNG SURREY LAWYERS Madeleine Gooding (Chair) Imogen Heywood Jessica Morton Will De Fazio-Saunders Alexander Bishop Victoria Clarke Email: youngsurreylawyers@hotmail.com Twitter: @YSL_Live LinkedIn: linkedin.com/groups/4515609

membership details Annual Subscriptions:

£98 per person, per year.

Corporate Subscriptions:

(20+ fee earners) £1,850 per year

Solicitor

(not in private practice) £60

Solicitor

(not practising) £35

Honorary Membership:

free

Associate Membership:

free - no voting rights

4 SurreyLawyer

To apply for membership please contact: Sue Seakens, Chief Executive Surrey Law Society, 18 Station Approach, Virginia Water GU25 4DW Web: www.surreylawsociety.org.uk DX 94652 Virginia Water Email: sueseakens@surreylawsociety.org.uk Tel: 01344 860830

Editorial

President’s Jottings Summer 2017 I write this missive in the week leading up to the general election at a time where there seems to be a large metaphoric holding of breath. By the time you read this the dust will have settled and it will be back to the day job.

A

nd back to the top if the agenda will, no doubt, be the negotiations around the UK’s conscious uncoupling in one form or another from the EU. A process that will have an impact on the law we all practice in one way or another.

As a result, there will be a great deal of opportunity to have our say on these changes through the consultations in which we can all get involved.

John Perry and Sushila Abraham, the Surrey members of the Law Society Council regularly reiterate the importance of this process and the need to have our voice heard. My Vice President, James Scozzi, is currently co-ordinating responses to the consultations coming out of various government departments as well as those from the Law Society and the SRA. No one knows the exact effect upcoming constitutional changes will have, but we must make sure we are involved in the process and I encourage you to ensure these are on your radar and if you need any help or want to get involved in responding to them, we at Surrey Law Society are here to help.

needs of the people of Surrey. But in that time the number of (civil) Legal Aid firms in Surrey has continued to diminish to the point where there is a now a real gap in civil Legal Aid provision, and it is part of the Law Centre’s remit to try and address this.

Surrey Law Centre has over 130 solicitors, barristers and other lawyers and non-lawyers who volunteer to help us. One of our aims for this year though is to strengthen our board of trustees, and if anyone out there is wanting to help, or knows someone who might like to, please do make contact. We are not just looking for lawyers – people from ALL walks of life are welcome to join us – the law is for everyone, not just us lawyers. ■

MARK GOUGH, SLS President 2016-17

Talking of change, a paragraph on Surrey Law Centre – of which you know I am a patron as well as overseeing the charity. Three years ago, there were great changes at the Law Centre following the scope cuts made in LASPO and we moved from being a legal aid provider back to being a focus point for people who need access to lawyers all over Surrey. Things have gone well and we have learnt a great deal about the

SurreyLawyer 5

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Editorial

CEO REPORTSummer 2017

While we all recover from the bombshell results of the General Election and await news of plans for the future. It seems that political uncertainty is all around us with Brexit taking off in the midst of it all. Will Mrs May step down? Can Boris take over?

By the time you read this it will hopefully become clearer.

B

ut uncertainty is not the way forward for Surrey Law Society!

As many of you will now know I will be retiring this November and handing over the reins to a new CEO. Our key Officers, Nick Ball and Kieran Bowe, have now completed the recruitment process. We had 6 very good applications, shortlisted to 3 for interview. We will be announcing the name of the successful candidate shortly and plan to make as seamless a transition as possible over the next few months.

Which brings me to the subject of retirement parties! My masters have agreed to let me ‘hijack’ this year’s Annual Gala Dinner as my Leaving Party…and of course it will also be the Arrival Party for my successor. So I hope that as many of you as possible will come along to say Farewell to me and Welcome to your new CEO. The 2017 Gala Dinner is being held at the Doubletree Hilton in Kingston upon Thames on Thursday 12th October at 7.30pm (see initial flyer below). Tickets will be on sale from 1st July and there will be tables of 8 and 10. As always this will be a charity event for this year’s President’s Charity – the Surrey Law Centre.

With succession in mind we have an excellent new seminar planned for Wednesday 11th October from 4:00pnto 6:00pm at Russell-Cooke Solicitors in Kingston. The Succession Seminar will be delivered by Andrew Roberts. Andrew is MD at Symphony Legal and you can read his article on Page 18. Andrew’s own company, Ampersand Legal, specialises in finding the right forward/exit strategy for clients. Using extensive knowledge of the legal marketplace and an enviable contact network, Andrew

enables clients to achieve their goals by either locating the right merger target or conversely, selecting the right firm to acquire their practice. For further details and to book a place on this Seminar please contact me at sueseakens@surreylawsociety.org.uk Places are limited so early booking is essential. Delegates will be charged just £12pp inc VAT as a charitable donation for the President’s Charity.

The Early Bird Bookings for this year’s Conferences close on 14th July so please don’t miss this opportunity to book early and save a few extra pounds. The Private Client Conference is on Thursday 21st September and the Conveyancing & Land Law Conference is on Thursday 19th October. Both Conferences are being held at GLive in Guildford from 10:00am to 5:00pm. Full details are on our website at http://www.surreylawsociety.org.uk/courses Early Bird bookings are £130 plus VAT to cover all costs for the day, including a buffet lunch. Please note that there is a public car park behind GLive but this in NOT included in the price of the Conferences.

I wish you all a very happy Summer and hope you will all get a chance to get away and relax before the Autumn arrives.

SUE SEAKENS, CEO Surrey Law Society t: 01344 860830 e: sueseakens@surreylawsociety.org.uk

SURREY LAW SOCIETY 2017 CHARITY GALA DINNER In Aid Of THE SURREY LAW CENTRE At The DOUBLE TREE HILTON in Kingston upon Thames On THURSDAY 12th OCTOBER 2017 Drinks Reception 7PM Carriages at 11PM Dress Code Lounge Suits and Posh Frocks Tickets £66 per person inc VAT

BOOKING FORM: SLS Charity Gala Dinner on Thursday 12th October 2017 Name of Firm:..................................……………………… Contact Name for booking:..................................................

Email:................................................................................... Telephone:...........................................................................

Please reserve......... individual tickets at £55pp plus VAT (£66pp total) Please reserve……… table/s of 8 for our firm at £440 plus VAT (£528 total) Please reserve …….. table/s of 10 for our firm at £550 plus VAT (£660 total) Method of Payment – please tick box

By Invoice to:................................................................................... DX/Postcode .............................................................

By cheque to Surrey Law Society, 18 Station Approach, Virginia Water GU25 4DW, DX 94652 Virginia Water

By BACS to Account No: 90539465 Sort Code: 20-29-90 Account Name: Surrey Law Society BACS payment made £ ................................. BACS reference.............................................. Date of transfer...........................................................

SurreyLawyer 7

Local News

The Guildford Legal Walk 2017 The sun shone on the walkers at our annual Guildford Legal Walk which was on Monday 12th June this year. The area outside the front of the courthouse was packed with walkers from the courts and firms all across Surrey and even some from further afield. e were seen off by Judge Robert Fraser and everyone had a great time walking over the Surrey downs.

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We only lost one or two people and one of the more adventurous dogs made a bid for freedom. But that sort of thing is discouraged and all came back into line eventually!

Clyde & Co hosted the reception at the end where the walkers rested their weary limbs (and the dogs as well – we had a really good canine turnout this year) and we all partook of some fine food and drink.

We are supported in these efforts by, among others, the London Legal Support Trust and the Access to Justice Foundation – charities that raise funds for free legal advice centres and help and support those organisations in their own fundraising.

The event has been so successful that we have decided to have another one later in the year – and that will be in Epsom, where the Surrey Law Centre offices are now located. We will be walking over some beautiful countryside on the Epsom Downs on the evening of 19 September, so if you would like to come along – do get in touch.

We have almost 150 lawyers volunteering for Surrey Law Centre and we had over 200 walking with us on Monday. All of us at the Law Centre cannot say how much we appreciate all the work you do for us and all the support you give us. Every little bit you do for us really helps and all together it really does make a huge difference to people’s lives. Thank you so much.

If anyone wants any of the pictures, or wants the link to them all (there are hundreds) again, get in touch and we can let you have a link to them.

A selection of photos showing some of the walkers who participated on the evening of the Walk.

8 SurreyLawyer

Local News

SurreyLawyer 9

Local News

“CAN THE SPAM!” A COMMON-SENSE APPROACH TO MODERN PI FROM APIL A valedictory interview with the Association of Personal Injury Lawyers President, Mr Neil Sugarman

by Phillip Taylor MBE, Richmond Green Chambers Photo: Neil Sugarman, President APIL

t’s been an eventful year for the President of the Association of Personal Injury Lawyers (APIL), Mr Neil Sugarman, as his term in office ends! And, yes, it always happens!

I

When an interview is scheduled something often occurs to change the best laid plans and quotes for all of us. And, so it was when I interviewed Neil in the early part of 2017. And such a lot has happened since including, first, the new discount rate and then a general election campaign.

So, it’s a case of “mixed reactions” in 2017 about the way in which personal injury matters are to be handled in future and “mixed reactions” possibly to be the phrase of the moment after some surprising announcements from the Ministry of Justice since our interview and a general election underway.

• Fairness for injured people; • A commitment to introduce reforms only on basis of sound evidence; • The arguments of insurers when examined by Justice Committee and Prisons and Courts Bill Committee were “flimsy” APIL think the government should recognize this fact; • A recognition that people usually need lawyers to help them get what they need in compensation for an injury • A recognition that people with life changing injuries are deserving of the utmost protections because of their special circumstances; and

“A not-for-profit campaign organisation, with approximately 3,000 member lawyers dedicated to changing the law, protecting and enhancing access to justice, and improving the services provided for victims of personal injury”.

So, what is APIL? Many lawyers and the legal support teams will know all about the work of the Association of Personal Injury Lawyers (APIL). APIL’s described as “a not-for-profit campaign organisation, with approximately 3,000 member lawyers (mainly solicitors, barristers and legal executives) dedicated to changing the law, protecting and enhancing access to justice, and improving the services provided for victims of personal injury”. It’s now “the leading, most respected organisation in this field, constantly working to promote and develop expertise in the practice of personal injury law, for the benefit of injured people”.

Discounts and the Election “Wish List” We talked “whiplash” injuries first as the continued controversy of the moment bubbles back to the surface. The Tory election manifesto for 2017 commits the party to tighten up the whiplash rules so it looks like there will be more future discussion for APIL members on how whiplash litigation works from June. We then moved to discounts and an election wish list, much for another article as Neil finishes his successful year as President. And for his valedictory points, Neil produced some suggestions for what 10 SurreyLawyer

Here is the Sugarman “wish list” which sensibly follows APIL’s main aims:

• Fair pay for a fair-days’ work;

Discount Rates Let’s start with discount rates. Neil describes the discount rate as “about how much compensation an injured person receives” which, of course, is the bottom line. He wrote in “The Times” earlier this year that there are people who “suffer brain damage or spinal cord injuries, who will lose limbs, or will be unable to work or care for themselves because of someone else’s negligence.” Sugarman’s view is that the compensation now awarded will be “calculated properly because the Lord Chancellor has corrected a rate that has been artificially low for many years.” We might, of course, speculate (idly- why not) what a new government might make of this decision on rates - if anything after 8th June 2017. Probably not much.

he would like to see from the new Government, attracting, hopefully, some political interest for their commonsense.

• Acceptance that injured people must not be discriminated against in cases in which it is the government that is responsible for compensating them.

Let us see what really happens in the summer of 2017!

An APIL Campaign – “Can the Spam!”

Our final chat covered spamming. “One of the worst irritants of the modern digital and telecoms world is the growth of spam” says Sugarman.

And the enthusiasm Neil shows for the “can the spam!” campaign which led me to ask for this interview in the first place has been matched only by the complete lack of enthusiasm shown by governments and other agencies towards this obnoxious trade in spam calls.

“You’ve had an accident!” “Er, no I haven’, get off the line!!”

The perpetrators just waste our time. Good luck with the campaign although this is clearly just the start.

The APIL Guides The final word rests with their books which many of us find invaluable. I congratulated Neil, thanking him and APIL and Jordan Publishing (now LexisNexis) for the excellent APIL guides which are such a boon to practitioners and the Young Bar. These guides are so often on display in the courts and it remains a tribute to APIL that they find such popularity amongst the judiciary as well- long may they continue as you make our jobs so much easier, especially for both the experienced and the inexperienced advocate in challenging times with the client hot on your heels wanting answers.

Thank you, Neil, and good luck to you and your colleagues with your future endeavours at APIL. It’s been a good year.

Local News

Burnout Needs Talking About, Reveals New Research by Talking Talent New research shows that more than half of all professionals feel worn out by their work; More than two-thirds of working parents feel the same, rising to 70% of senior managers; Talking Talent, the innovative coaching and consulting company, has recently published new research that shows how pressures and expectations at work are taking their toll on employees, increasing their risk of burning out.

The research shows that: • More than half (57%) of all professionals feel worn out by work; • This number rises to over two-thirds (67%) for working parents; • And rises further to 70% of senior managers who feel the same way; • 58% of senior managers report that they often lose focus at work; • More than half (57%) of graduates feel worn out by work; • Two-thirds of graduates (66%) feel they give a lot but get little in return; • And three-quarters (75%) of professionals aged 25-34 already feel worn out by work; Talking Talent's new research shows how the threat of burnout is real. It highlights three key pressure points for organisations to look at: working parents; senior managers; and graduates. Burnout is not reserved for middle age or later life.

Nearly 50% of all workers do NOT feel they get enough support from employers. Talking Talent believes there are opportunities for employers to make it easier for their employees to manage their own wellbeing better. But organisations also need to step up to a crucial cultural challenge. How can they give their people confidence that it is not a sign of weakness to start talking about burnout?

Why should employers take on these difficult questions? The research shows that almost a half (49%) of workers often lose focus at work.

And it supports research by the Institute for Public Policy Research which estimated that 460,000 people transition from work to sickness and disability benefits a year, costing employers £9bn a year.

The advantages to employers of addressing the issue are clear.

Talking Talent Coach Director, Rob Bravo said: "Organisations need to take action to support the wellbeing of their people. This research shows how the risk of burnout is real. The challenge of helping employees understand how to manage their own wellbeing is part of protecting an organisation's greatest asset - its people. If left unexamined, wellbeing issues will reverse positive trends in diversity and inclusion aimed at improving organisational performance."

How are lawyers using mobile technology?

LEAP undertakes survey of solicitors to find out the importance of mobility when running a successful legal practice The demand for access to business information has grown dramatically.

Over 80% of the UK population has a smartphone, and over two thirds of adults have access to a tablet. Current estimates predict over 75% of internet use will be on a mobile device in 2017, with this increasing to 80% in 2018.

The legal sector needs to adapt to keep up with the mobility trend.

Clients are transforming their business processes and lawyers need to change accordingly. Forward-thinking practices have made the move to mobile and others run the risk of being left behind.

This is reflected in a recent survey with responses from 50 legal firms using LEAP legal practice management software, results found that almost half of respondents use the available mobile app regularly to

manage their matters, correspond with clients and work with colleagues via their smartphone or tablet.

The survey also provides insight into how solicitors are making the most of cloud technology and all that it offers. 96% of respondents that are using the LEAP Mobile app do so to review and append documents on matters, and to access matter and contact information, including making phone calls with associated time recording. 42% of users use the standalone time recording feature, almost 25% use the integrated scanning functionality and 15% use the devices dictation capabilities to add dictated notes and letters to LEAP.

What features are most popular to solicitors when working from their mobile device?

Feature Percentage Viewing documents 96% Viewing matters 84% Viewing cards 54% Time recording 42% Emailing correspondence 42% Viewing financial data 40% Viewing key dates 24% Adding notes 22% Adding documents 16% Dictation 15% Disbursement posting 8% John Flanagan, Product Manager at LEAP UK comments: “Adopting a mobile strategy means that devices, and associated applications and software, can be capitalised to make it easier for lawyers to collaborate without being tied to their desks. Real-time communication with the office delivers significant business benefits, including more efficient use of staff time, driving an increase in billable hours. This flexibility changes where work can be done, be it home, commuting or at court.”

LEAP 365 is a suite of software capitalising on LEAP’s true cloud technology. With apps available across the Windows desktop, iOS (for both iPhone and iPad), Android and the browser.

Two LEAP clients comment on the Mobile App: “The app is easy to use.

Information can be obtained instantly and whilst away from the office. No need to sit waiting by the office based computer!” comments a representative from Auriga Advocates. “The mobile app has driven greater productivity, ensuring chargeable items dealt with whilst out of the office are not overlooked.” comments On Demand Lawyers.

SurreyLawyer 11

Local News

Advice for EU Nationals living in Surrey Since voting to leave the EU there has been a sharp rise in the number of EU Nationals seeking to show they have British residency. With no clarification forthcoming as to the status of Europeans on our shores, these figures are only set to rise. This is especially true for EEA (European Economic Area) nationals that consider the UK to be their permanent home.

S

urrey has always welcomed people from across the water, whether that’s the English Channel or any other sea or ocean. Much of our economic fortune, whether in agriculture, the care industry, or tech, has been built on both the intellect and hard graft of non-UK nationals and therefore Brexit is understandably causing concern all round. EU nationals are looking to legally confirm what was previously taken for granted and businesses are loudly making the argument for allowing EEA Nationals to remain.

The Government must clarify its position. In the meantime, it is prudent to plan ahead to evidence residency and consider applying for British Citizenship. If the Government does not guarantee the rights of all EEA nationals to remain, the rush to apply will be unprecedented. With an EEA application costing just £65, now is the time to act.

Who qualifies for permanent residence?

To qualify for permanent residence, an EU national needs to have lived here for five years continuously during which time they need to have been in employment, self-employed, engaged in studies, or self-sufficient. If self-sufficient, they must not have been reliant on public funds.

The five-year period does not have to be the last five years, any continuous five-year period is fine, but if since then an individual has been out of the country for two years or more, that right to permanent residency may well be lost.

Anyone who meets the criteria automatically acquires a right to permanent residence. However, with the future currently uncertain, many immigration lawyers – myself included – are advising those who qualify for permanent residence to apply for proof.

Once an individual has had permanent residence status for a period of 12 months, they can apply for British Citizenship which entitles them to a British passport. If married to a British Citizen they can do so straight away.

The Comprehensive Sickness Insurance catch To the surprise of many and the alarm of some, it transpires that if for part of the five-year period required to qualify for permanent status an EU national was not economically active then they needed comprehensive sickness insurance (CSI).

Sadly, and unusually for the EU, this disproportionately affects women. A typical example would be a woman who comes to the UK, spends a few months looking for work before working for, say, three years during which time she meets someone, then gets married, starts a family and becomes a stay-at-home parent.

Even though she may well have been self-sufficient during this time due to money in the family unit, without CSI her qualifying 12 SurreyLawyer

Photo: Tamara Rundle.

years hit a wall. She is here with husband and children, sometimes for many years, but with no assured permanent residence right.

As you can imagine, this is causing anxiety. My initial advice to those affected is not to panic as until we leave the EU any qualifying EEA National has the right to stay. More importantly, there are other avenues that apply.

Those established in the UK with friends, family and/or work could well be protected under Article 8 of the Human Rights Act having established private and family life here. There may also be a case for long residence and visas related to the marriage and the children. As these instances are more complex, it is worth individuals seeking legal advice to ensure they explore the options most suited to them.

The Government may call an amnesty, particularly because it is unclear how they intend to document everyone already here anyway, but it is worth those affected doing what they can now, if only for peace of mind.

Other instances where eligibility criteria are not met For others who haven’t yet met the eligibility criteria for permanent residence, I firmly advise they do all they can to meet those criteria now. With two years still to go, those who don’t currently qualify can ensure they do. They can also apply to evidence their qualified person status making it easier to obtain permanent residence confirmation down the line.

Evidence your stay My firm advice to EEA Nationals is to evidence your residence. If, for example, an individual is not in work, they must have CSI for that time and proof they were self-sufficient. Time spent looking for work must involve registering as available for employment and is time limited. Time as a student also requires CSI. For periods in work, individuals should get P60s or letters from employers to evidence employment.

For those who are or have been self-employed, compiling the appropriate information is a little more complicated; tax returns, national insurance payments and evidence of being registered self-employed should be provided. Plus, the Home Office requires evidence that travel is not excessive as well as documentation showing residence.

Anxiety is palpable from the first call that we take from EEA Nationals, and so I always begin my advice with, ‘please don’t worry as there are many options and, at this stage, solutions to explore.’ To date, we haven’t had a single application turned down.

Tamara Rundle specialist in Immigration Law, Moore Blatch

Local News

Spring Clean Your Client Account Now Access to legal advice makes an enormous difference to people’s lives, reducing poverty and suffering. Successive cuts in public funding for free legal help have had a huge impact on the most vulnerable in society and whilst we cannot seek to fill the gap left by these cuts, helping vulnerable people must be a priority.

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he Access to Justice Foundation aims to help these people by raising funds and distributing them to organisations that support those who need legal help but cannot access legal aid or afford to pay.

Support Trust, who support local advice services in London and the South. The London Legal Walk is taking place on 22nd May 2017, and is a great opportunity for colleagues to come together to raise money for free legal advice charities.

As a lawyer you will know that access to justice is about people who need help to enforce their rights. From the client who is worried about being threatened with eviction if they complain about a Landlord refusing to complete repairs on the property, to clients wanting advice about their employment rights after being treated unfairly following their return to work after an injury. Without the means to enforce the rights that people have, the rights themselves are meaningless. Free legal advice provision is vital. With access to even a one - off piece of legal advice, the escalation of many of these issues could be avoided.

For more information about any of these projects and for contact details please see our website www.atjf.org.uk.

By Laura Cassidy of the Access to Justice Foundation

The Access to Justice Foundation is working closely with the pro bono and free legal advice sector to help secure the free legal advice services that exist and to extend services to parts of the country where none exist so that vulnerable people can access the help they need in order to enforce their rights.

There are three main ways lawyers can help the Access to Justice Foundation: 1) Unclaimed Client Accounts – It’s Not Just Peanuts Unclaimed client account balances become an annoyance for firms as they must be analysed and explained to auditors each year. Law firms can donate these dormant client account monies to the Foundation. The Foundation is able to provide indemnities for these donated funds. Individually, dormant client accounts may only hold small amounts of money, but the money can really add up. In 2015 this source of funds raised over £200,000.

2) Pro Bono Cost Orders If a civil case is won with pro bono help, pro bono costs can be ordered by the court, or included in settlements. The costs cover any period when free representation was provided and the amount is based on what a paying client would recover.

The costs must be paid to the ATJ Foundation (s194 of the Legal Services Act 2007). We then distribute the money to projects that give free legal help. Claiming pro bono costs is a straightforward process; for more information see our website.

3) Legal Support Trust Events The third way you can support the Foundation is by taking part in one of our fundraising events for the London Legal SurreyLawyer 13

Local News

Meet Joe Egan the next national Law Society President The first job of the president, it always seemed to me, is to make sure that the ship is going in the right direction and is properly resourced rather than trying to set it on some new course that I might fancy.

Photo: Joe Egan A good deal of the work of a president is set in stone. Apart from chairing five or six meetings of council, the president is expected to attend many other meetings such as the management and membership boards. And every year there will be foreign delegations which the president hosts at Chancery Lane, such as those from China, Malaysia or India booked in for this autumn.

The export of legal services is a huge and important part of our economy - which is why the role requires some foreign travel. I will be attending the ABA conference which is being held this year in New York during September. From there I will fly to Montreal to meet my Canadian counterpart. In October, the International Bar Association conference is being held in Sydney. Other trips to Russia, Japan and Korea are pencilled in. Given the pre-eminence of the law of England and Wales the Society feels it is vital that we keep a high profile and network at such events to assist our lawyers in building and servicing these markets.

Whilst I have no desire to divert staff or other resources to my particular interests, there is the ability to influence matters going forward. Projects started by my predecessors such as placing Access to Justice high on the agenda or the ‘Pride in the Profession’ initiative started by Robert Bourns are very important and I intend to continue backing them. Whichever government is in power, we will

continue to deliver the message that Access to Justice is a fundamental part of a truly democratic society. The fact that solicitors keep an increasingly creaky system going by our goodwill and pro bono work will also be highlighted.

Our outgoing president regarded social mobility as very important and that too is a priority. I was very fortunate, although, like many, did not realise it at the time, in that all my education was free and I got a grant. It is much more difficult, if not impossible, nowadays for people from my kind of background to enter our profession and I intend to back the work the Society is doing to remove any such barriers to entry.

And finally, there are the local law societies. I was elected on a platform of reminding Chancery Lane that there is life outside London. One of the great delights of being an office holder is being invited to attend, and often speak at, local law society dinners. I have always regarded it as a small sacrifice to give up my Saturday morning lie in to travel back from such splendid evenings. I intend to continue accepting as many such invitations as I can during my presidency and hope to gather the vast experience and knowhow of these societies together in a handbook to assist all societies big or small.

Tropic of Cancer Charity A local charity based at Surrey University is undertaking ground breaking research into cancer immunotherapy. However, like many other charities, it receives no funding from the government and relies on charity funding to top-up research grants. We are calling on Surrey Lawyers to help to raise awareness of this worthwhile cause when discussing legacies with their clients.

Topic of Cancer helps fund Surrey-based Professor Pandha’s Oncology Unit’s research into cancer immunotherapies, promotes awareness of these highly effective treatments and builds networks of local support groups. The aim of immunotherapy research is to use and stimulate the body’s own immune system to recognise and destroy a tumour. Current chemo and radio-therapies use a sledge hammer approach to treatment: all cancer cells including healthy normal cells, are targeted and damaged, resulting in unpleasant side effects for the patients.

Immunotherapy is a treatment that stimulates the body’s immune system to fight cancer resulting in dramatically reduced side effects.

This year, the research team are working on a number of significant projects: developing a novel ‘cancer-killing’ virus to treat breast cancer; investigating at what stage and why the immune system becomes dysfunctional in kidney cancer and why certain types of bowel cancer may be more sensitive to checkpoint immunotherapy.

Managed by a small team of volunteer Trustees means administration costs are less than one percent leaving the majority of money raised to go towards its worthy cause.

14 SurreyLawyer

Photo: Rosemary Gorman

The work Professor Pandha and the team undertake is cutting-edge.

They work in partnership with many other research institutes (Cancer Research UK and the national Cancer Institute in the US) to develop better cancer treatments and improve survival rates.

In addition to funding research, the charity supports patients through its network of support groups (five of which are in Surrey) and is about to launch specially designed fitness classes at Turnfit studios in Guildford helping people living with cancer improve their fitness.

Why you should recommend us?

We’re a local Surrey charity; a centre of research excellence conducting clinical trials; we support Surrey people living with cancer; we are efficiently run.

If you or your clients would like to attend one of our Lab tours and hear more about our research from one of our scientists please contact us. email: info@topicofcancer.org.uk or www.topicofcancer.org.uk

Local News

Barlow Robbins Announces its 2017 Partner Promotions Leading Surrey law firm Barlow Robbins has today announced that it has promoted two of its lawyers to its partnership this year*.

Commenting on the promotions, Barlow Robbins’ Chairman Helen Goatley, said: ‘‘These individuals exemplify the firm’s values, culture and calibre of talent. It is an absolute pleasure to be announcing these promotions, particularly as both Emma and Ben are ‘home grown’ having joined the firm as trainees. The promotions also represent the continued investment that the firm is making in legal sectors to independent schools and the growth of the firm’s work in personal injury, which differentiates Barlow Robbins from others in the wider market.”

She continued: “Both the independent schools and personal injury teams have seen considerable growth in the last few years, which Emma and Ben have played a huge part in. We all look forward to supporting them as they help drive the firm’s future vision and development for 2018 – to be the premier law firm of choice in all our chosen markets delivering a first class client experience, where all our people feel engaged, developed and rewarded.”

The new partners are: Emma Potter – Guildford / Personal Injury and Clinical Negligence Emma joined Barlow Robbins as a trainee and has built a practice representing adults and children who have had accidents regardless of how these occur. Emma’s particular expertise is focused on cases where individuals develop complex regional pain syndrome (CRPS) or other chronic pain conditions. She also has significant experience in accidents at work and the associated health and safety issues. She is known for her ability to understand and always act in the best interests of clients and is regularly reported as exceeding their expectations. Emma is a member of the Rotary Club of Guildford and a Trustee for Surrey Clubs for Young People.

Photo: Emma Potter

Ben Collingwood – Guildford / Schools and Charities Ben joined Barlow Robbins as a trainee. He specialises in advising independent schools and other charities on wide ranging areas of education law, with particular focus on reputation, safeguarding and pastoral issues, historic abuse allegations, data protection, pupil admissions, special educational needs and exclusions, parent/pupil complaints, parent contracts, and contentious and non-contentious employment/HR matters.

Ben is widely sought after for his expertise in these areas for speaker opportunities and is a regular contributor to publications providing commentary to members of the media. He is a school governor, trustee of his local parochial church council and is a member of the Institute of Directors serving as the Surrey Branch Legal Ambassador, the Employment Lawyers Association and the Lawyer’s Christian Fellowship.

Photo: Ben Collingwood

This announcement comes in the same week as partner Joanna Farrands is accredited by the Law Society for advanced private children law and child abduction.

An Update from The Good Care Group

By Michelle Elliott, Business Development Manager Clinical Panel The Good Care Group is pleased to be able to bring together a group of leading medical experts to provide advice in how to improve services that we currently deliver to clients, and assisting us to develop new services. The Panel held its first meeting in May with selected healthcare professionals and debated aspects of service improvement such as preventative care, hospital admission avoidance, early discharge facilitation and how to further improve client outcomes.

The Good Care Group have been collecting its own data evidencing better outcomes for people living at home. New research proves that people who stay at home with live-in care experience a third fewer falls and a quarter of the hip fractures of those in care homes1. If you would like to see more on this report, please contact us using the details below.

OT Services The Good Care Group have recruited a dementia specialist Occupational Therapist providing a national service to TGCG clients supporting with: • re-ablement • return home from hospital

• moving and handling including recommending and sourcing equipment • promoting and maintaining independence, • dementia, cognitive and behavioural issues • reducing the need for double up care, • falls management • liaising with NHS hospital and community teams – providing home hazard assessments and specialist functional skills assessments Preventative Care – Urinalysis tests The Good Care Group are keen to improve ways of avoiding hospital admission for their clients. We have equipped our carers to spot the signs of infection as early as possible and provide high quality clinical information to GPs including performing urinalysis tests, to enable GPs to make better, quicker decisions and treat UTIs at home.

Since launching the first phase of the initiative last year, we halved UTI admissions and saw an increase in UTIs reported suggesting we are spotting them quicker and treating them before crisis hits. The roll out is phased and taking place now - Oct 2017.

If you would like further information about The Good Care Group, please feel free to contact me at: Email: michelle.elliott@thegoodcaregroup.com Web: www.thegoodcaregroup.com

SurreyLawyer 15

Local News

SRA commits to new clearer Handbook promoting high standards and choice The Solicitors Regulation Authority (SRA) has today announced changes that will help drive high professional standards, remove unnecessary bureaucracy and free up solicitors to work in new markets.

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ollowing extensive consultation, it has announced the first phase of changes to its Handbook. Currently, with a 30 page code of conduct and more than 400 pages of rules, the Handbook is long, complex, onerous and costly to apply.

Consultation showed that there was broad support for simplifying it. The first phase of revisions creates shorter, clearer principles and codes, as well as much simpler Accounts Rules. For instance, the new rules have been reduced from 41 to seven pages by focusing on the protections that really matter, specifically keeping clients' money safe.

The revised Handbook will have a Code of Conduct for solicitors and another for firms. The aim is that every solicitor is absolutely clear about their personal obligations and responsibility to maintain the highest professional standards, whether they work in-house, inside or outside a firm that is Legal Service Act (LSA) regulated.1 The separate code for firms aims to make sure they have clarity about the systems and controls they need to provide good legal services for the public. The combined length of the two codes, with the principles, is 14 pages - reducing the length of the code by more than half.

The SRA also wants to help tackle the problem that too many people cannot access the services of a regulated legal professional. It has committed to getting rid of barriers to solicitors working freely in the legal sector, including in the growing number of ‘non-LSA regulated' firms providing legal services such as will-writing and resolving employment disputes. Changing outdated rules constraining access to solicitors will make it easier for people to benefit from their expertise and high standards, potentially in more affordable ways.

Paul Philip, SRA Chief Executive, said: “Clear, high professional standards are at the heart of public confidence in solicitors, law firms and a modern legal sector. Our consultation confirmed that a shorter, clearer Handbook, with a sharp focus on professional standards, is the way forward. Pages and pages of complex rules hinders rather than helps compliance. It drives costs rather than good practice and consumer protection. We want to move away from ticking boxes to putting more trust in professional judgement.

“That means we can make changes to give solicitors and firms greater flexibility. Freeing up solicitors to work where they choose is good for the profession, opening up career 16 SurreyLawyer

opportunities, and good for the public. It will help to tackle the issue that too many people and businesses simply cannot afford to access the help of a solicitor when they have a legal problem. Removing restrictions on where solicitors can work will give the public more choice, increasing access to high quality legal services at a price they can afford."

The decision by the SRA follows direct engagement with around 11,000 solicitors and members of the public on its proposals. Together there were more than 400 responses to its consultation on the codes and principles, and Accounts Rules.

There was broad support for the overall approach of cutting bureaucracy and simplifying the Handbook. On the detail, views were more diverse. The SRA has made changes to respond to feedback. For instance it recognised that its proposals around greater flexibility on client money could have had cost implications for some firms. So it has amended its definition of client money, so the vast majority of firms with a client account can continue as they are. It has also made it absolutely clear that the ban on cold calling remains.

The plans to remove restrictions on where solicitors can work were the most divisive in terms of consultation feedback.

There was strong support from the Competition and Markets Authority (CMA), consumer groups and charities, but also strong opposition from the Law Society and some solicitors.

The SRA has committed to keeping the impact of any change under review. It will address concerns around the potential for consumer confusion by making sure there is clear communications around the extent of the protections in place for the public when they are using a solicitor in a non-LSA regulated firm.

The SRA will be consulting on proposed changes to other parts of the Handbook, including the authorisation, practice framework rules and new enforcement policy, later this year.

The new arrangements will not be introduced any earlier than autumn 2018.

A summary of the responses to the consultation and the SRA’s decision on next steps is available at: www.sra.org.uk/sra/policy/future/resources.page

Local News

Richmond law firm Calvert Smith & Sutcliffe merges with Moore Blatch Local Richmond law firm, Calvert Smith & Sutcliffe has merged with leading regional law firm Moore Blatch.

Established in 1917, Calvert Smith & Sutcliffe employs 25 people and will continue to operate from their office at 9 The Green in Richmond, trading as Moore Blatch incorporating Calvert, Smith and Sutcliffe.

Moore Blatch has an office at 2 The Green in Richmond as well as in Southampton, Lymington and the City of London.

It is a multi-disciplinary law firm, employing over 320 people.

The purchase of Calvert Smith and Sutcliffe comes at an exciting time of expansion for Moore Blatch across the south of England. Following the merger, Calvert Smith & Sutcliffe will be able to offer their clients an extended range of legal services.

David Thompson, managing partner, Moore Blatch, comments, “Calvert Smith & Sutcliffe is a long established law firm providing professional and practical advice to individuals and businesses in West London. Their highly respected lawyers will complement our team locally and across the South of England.”

Janette Davies, Director, Calvert Smith & Sutcliffe; comments; “Moore Blatch shares in our values and ethos to deliver a bespoke personal service and clients will continue to receive that high level of service and expertise. The merger also means clients, whether individuals or businesses, with be able to access a wider range of specialism than before.”

FRIDAY 14th JULY 2017

SURREY LAW CENTRE DINNER DANCE WITH SURREY LAW CENTRE GUEST DINNER DANCE SPECIAL JUDGE RINDER. FRIDAY 14TH JULY AT SANDOWN PARK. ESHER. FRIENDS OF SURREY LAW CENTRE cordially invites you to its

With Special Guest Speaker:

JUDGE RINDER At

time: 7pm

SANDOWN PARK, Esher Dress to impress, Carriages at Midnight dress code:

Single Ticket £75 Table of 10 £675 price:

For tickets: email: reception@surreylawcentre.org █ 0330 002 0099 █ Online: http//tinyurl.com/SLCdinnerdance All funds will support the work of Surrey Law Centre.

Registered Charity No. 1097664 Orgainised by Charlie Lloyd HR Consultancy

A fabulous evening with special guest Judge Rinder.

Please join the Friends of Surrey Law Centre and help raise funds for Surrey Law Centre.

3 course dinner.

Music & Entertainment.

Casino tables, Auction & Raffle.

Single ticket: £75.00 or Table of 10: £675 For tickets: email: reception@surreylawcentre.org or call us on 0330 002 0099 online purchase of tickets: https://tinyurl.com/SLCdinnerdance

SurreyLawyer 17

Management

Retirement Strategies for Law Firms

By Andrew Roberts, MD at Symphony Legal We are asked regularly at Symphony Legal for advice on succession and exit for solicitors and law firms throughout the country. Our MD, Andrew Roberts shares his thoughts below:-

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here are 8000 firms in England & Wales of between 1-4 Partners and a large majority of these will have Partners who are in the last few years of their careers. For these Partners to retire there are only 6 possible solutions. These are that you already have tomorrow’s partners in place, you need to find them and attract them, you are acquired, you bring in professional management, you close the firm or you just keep on going hoping things will work out.

It might be helpful for us to take each of these in turn and look a little deeper.

Bring in a non-lawyer to run the firm. For this to work it is far better to incorporate because you can then hold shares in the business and maybe sit on the board whilst having a CEO run the firm day to day.

That CEO should also probably have shares. This solves the ownership issue and also allows you a kind of exit (whilst maintaining an income), but you are very reliant on finding and keeping a good CEO and it is probably not a sound long term solution.

1. You already have succession in place.

5. You close.

Well done, you are obviously running an attractive firm and your younger colleagues can see that it is strong and sustainable and so they are happy to invest. We advise all clients in their 50s to start seriously concentrating on this process because it takes time to develop your people. We find that the next generation find taking on ownership easier if the firm incorporates so that they can acquire shares in a business rather than equity in a partnership. This might seem a minor distinction but it does make the route to new ownership and therefore your exit, smoother.

Only firms with large liabilities or major issues should need to consider this as an option because there is always an inherent value in a firm. PII contagion is the largest issue and firms are rightly wary of becoming successor practice to firms with a poor history.

However, if you decide to close, your current PII provider must offer run-off terms and you should then follow Chapter 10 of the SRA code and effect an orderly closure. This is a rather inelegant end to a career but at least it allows an exit and would usually happen upon expiry of the office lease.

2. You need to find your successors.

6. Do nothing

You no doubt have good lawyers in the firm but no one who has the desire or commercial nous to take over. This is quite common and maybe not surprising considering the regulatory and financial environment that firms operate in now. However, other owners are out there and so you need to find them and then make the firm as attractive as possible to them.

The final option, do nothing and hope something turns up. This last option is very common but is not sustainable in the long term however attractive it might seem immediately. As I have said earlier, every firm has a latent value so long as it is not burdened by PII or other toxic liabilities and the sooner you start the process the better.

To find them we would suggest networking first – ask your accountant and bank if they have heard good things about young locals. Talk to your other contacts and clients but if these do not yield results, you need to retain a professional head-hunter who has the research capability to uncover the right person. Once you have a target, you then need to make the firm as attractive as possible.

Obviously if there are any issues you need to remedy these first, or have a plan in place to do so. Then put together a sales prospectus containing all relevant information – fees and margin over 3 years, client types, staff demographics, liabilities, property details. Make it easy for them to see that this is a good long term business opportunity for them and always, always, be positive.

3. You are acquired.

People always talk about law firm mergers, but in reality they are always acquisitions. Again, you need to tidy the firm up and prepare a prospectus to get your thoughts organised. Then make discreet enquiries as to which firms might be interested in acquisition. These might be via your bank or accountant, or via a broker who will ensure that your plans are kept secret and who will help you cover all the potential options. Acquisition is an excellent way of solving the problem, there is no disgrace in losing the name or independence if by doing so you can exit whilst guaranteeing the continued wellbeing of clients and staff. Also, you don’t need to wait until retirement for this to work, again, doing it in your 50s gives you 5 to 10 years to enjoy the benefits of the merged firm.

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4. Professional management.

In our experience the best way to exit is to address the issue early and grow your own succession. If this is not possible (or doesn’t work out) then being acquired is likely to be the easiest option for you and the best option for your clients and staff. If we can help with any of the above please get in touch, andrew.roberts@symphonylegal.com or 0333 320 9979.

Management

Protecting IP and confidential information

By James Martin, Partner at DMH Stallard.

To mark 2017 World Intellectual Property James Martin, Partner at DMH Stallard and one of the UK’s foremost legal experts in the field of IP, has set out below 10 key considerations for how business owners should protect their intellectual property and particularly their commercially sensitive confidential information, knowhow and trade secrets.

“International commerce brings huge opportunity to businesses and individuals that possess a unique product with mass appeal.

However, this global market-place also includes threats ranging from cybercrime to human error, but businesses can implement some simple steps in order to help minimise the risks that exist to their commercially sensitive confidential information, knowhow and trade secrets.”

Protecting intellectual property (IP) and confidential information is a huge challenge for businesses. From cybercrime to human error, it can be very difficult to keep IP and confidential information safe in today’s world.

Most businesses will possess confidential information in one form or another and, in the 21st Century, all businesses are operating in an environment plagued with sophisticated attackers. IP and confidential information is notoriously difficult to protect, so businesses should develop a security-conscious culture and focus on raising and maintaining awareness of the changing threat landscape with its employees and third parties.

Here are our Top 10 Tips to help you protect your business’ IP and confidential information: 1.Educate employees. Employees must understand the importance of information security and we recommend developing appropriate policies so that responsibilities are clear; 2.Implement an on-going awareness programme. The threat landscape changes constantly so it is important your employees understand new threats particularly when they can be targeted i.e. social engineering; 3.Implement and enforce a stringent password policy. This will help prevent unauthorised access to systems operated by the business. Ensure strong passwords are put in place by all employees which are of a reasonable length with varying characteristics, i.e.

numbers, letters, and special characters, and do not permit employees to use personal information in their passwords to make them more difficult to guess; 4.Operate a clear desk and clear screen policy Avoid the risk of sensitive documents containing confidential and sensitive information from falling into the wrong hands; 5.Implement “defence in depth”. Layer your security, particularly with your most sensitive or confidential data, so that even if one layer of security is compromised there are still other layers to prevent unauthorised access; 6.Regularly review and investigate logs/alarms. Look for suspicious and unauthorised activity and consider implementing Security Incident Event Management (SIEM) software to automate the log analysis process; 7.Implement a “Data Loss Prevention solution”. One of the biggest threats to IP and confidential information are employees. Protect yourself from this insider threat by preventing users from sending certain data to an external source and which tracks and monitors data movement that is prohibited; 8.Only grant the minimum access required. Restrict access to sensitive and confidential files with access only to be authorised on the basis that it is essential for an employee’s role, reviewing access permissions regularly and removing access when it is no longer required; 9.Include appropriate IP and confidentiality terms in employees’ contracts. Protect your IP and data and outline the consequences of failing to do so; and 10.Disable employee access to sensitive information upon resignation.

To speak directly to James Martin please contact Chris Gape on chris@cobbpr.com or 01323 416999..

Corporate INTL Announces the 2017 Global Awards Winners Cobham-based law firm Mundays announce Partner and Head of Private Wealth, Julie Man has been named Individual - Private Client Lawyer of the Year in England in the ‘Corporate INTL Global Awards 2017’ which commemorate those who have been successful over the past 12 months and who have shown excellence not only in expertise but in service to clients.

Cobham-based law firm Mundays announce Partner and Head of Private Wealth, Julie Man has been named Individual - Private Client Lawyer of the Year in England in the ‘Corporate INTL Global Awards 2017’ which commemorate those who have been successful over the past 12 months and who have shown excellence not only in expertise but in service to clients.

Julie joined Mundays as a Solicitor in November 2006 and progressed to Associate, Partner and most recently Head of Private Wealth in 2013. The detailed knowledge and experience acquired during this period has established her as a solid legal adviser in the private client arena.

Julie has been at Mundays for over 10 years and this has enabled her to deal with many long-standing and sometimes vulnerable clients with a wealth profile befitting our catchment area and with whom she has established a relationship as a ‘trusted advisor’ to the family, often leading her to act for the next generation.

Julie’s wide range of experience and knowledge allows her to advise successful high net-worth entrepreneurial clients with the necessary technical rigour required. She predominantly focuses on high networth individuals, particularly clients where their matters involve the “modern family”, business interests and, matters involving international and domicile issues etc.

Valerie Toon, Managing Partner at Mundays comments on another fantastic achievement for Julie “Hot on the heels of Julie’s Best Private Wealth Lawyer UK 2016 Award we are pleased to see another award added to the cabinet. Julie is a valuable asset to Mundays and leads a hand-picked team. Julie deserves this award for the commitment and service she has provided to our clients over the last 10 years at Mundays” Please visit the Corporate International website where you can access the winners supplement and view all award winners.

SurreyLawyer 19

Finance

Understanding Inheritance tax-the residence nil rate band (RNRB)

By Louise Harrhy, Partner at law firm Hart Brown Even though we all believed it would be abandoned, the RNRB is now very much with us and we are left struggling to apply it in practice and draft wills that ensure the relief is not lost.

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s we all know, the basic idea is to give an additional nil rate band (NRB) for residential property left on death to direct descendants. The legislation (effective as of 6 April 2017) provides for maximum relief of £100,000 for 2017/18 increasing to £175,000 for 2020/21. Thereafter, the maximum increases with inflation, based on the CPI. There are 2 limitations: • the amount of the RNRB is limited by reference to residence value closely inherited • if the value of the estate (assets less liabilities but ignoring reliefs) exceeds £2m, the RNRB is reduced at a rate of £1 for every £2 in excess-plan around this therefore.

Difficulties arising from wills are relevant property trusts for grandchildren at say age 21 or discretionary trusts of residue-consider rearranging matters by using s142 But also note or s144 IHTA 1984. If the will provides for an IPDI and that a lifetime a discretionary trust thereafter, consider an absolute gift of property appointment in the life tenant’s lifetime to a with a descendant.

reservation of benefit to a descendant will qualify!

Interestingly, “estate” includes exempt gifts on death, assets that qualify for APR/BPR, assets in which the deceased had a qualifying IIP (provided a lineal descendant takes on death) and GROBs. The residence itself can include foreign property and must have been the deceased’s residence at some point during ownership and in the estate at death. The relief is still available if part of the residence passes to descendants and if the deceased vacates to move into care.

But also note that a lifetime gift of property with a reservation of benefit to a descendant will qualify!

Descendants includes issue and bizarrely this encompasses step children, adopted children, foster children, children the deceased acted as a guardian for, spouses and civil partners of issue and widows/widowers (who are not remarried) of predeceased children. Brothers and sisters and nephews and nieces are rather harshly excluded.

Property is inherited on death as a result of: • the will • intestacy • survivorship

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• settled property provided the descendant is: a. an IPDI beneficiary b. a disabled person c. a child of the deceased and the trust is a bereaved minors or 18-25 trust

The RNRB is transferable in the same way as the NRB and curiously, the first to die need not have owned a residence and for deaths before 6 April 2017, the RNRB will always be transferable. It is irrelevant if they were penniless or owned no property.

The extremely complex downsizing rules (the legislation is a nightmare) provide that if the deceased ceased to own property which would have otherwise qualified, the relief applies if assets of a value up to that of the RNRB are left to descendants. Record keeping is vital therefore.

What was described as a £1m NRB is overly complicated and sadly the losers are taxpayers with no children and those who rent property but own investments/let property.

Louise Harrhy Partner, Trusts & Estates

Artticles

Costs Lawyers and the Question of the False Economy Winston Churchill once said, “Sometimes doing your best is not good enough. Sometimes you must do what is required.” I was reminded of this challenging quote when reading about the case of Jago -v-Whitbread via Gordon Exall’s Civil Litigation Brief. If there were ever a case that demonstrated the need to employ experienced costs lawyers – rather than to wing it and ‘do your best’ - it is this one. You may be thinking “well of course he would say that,” but read on and I think you’ll most likely agree.

Photo: Martyn Jennings

Six figure costs

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he story begins at the end of a personal injury claim by Vivienne Jago against her former employers, which had been settled for £41,035.75. Eight days after the settlement had been agreed, the claimant’s solicitors submitted their bill – an eye watering £101,677.21. According to the approved judgment, “that bill included inter alia an uplift or success fee of twenty per cent claimed on solicitors’ fees in the sum of £13,918.93, various small disbursements in the total sum of £537.” The bill also included, as part of the solicitors’ profit costs, two and a half hours claimed for what was described as ‘preparing and checking the statement of costs.’

Conduct issues can be costly

costs is correct – and the responsibility that places on the solicitor signing it. He noted that the claimant would be entitled to reclaim the cost of instructing costs lawyers to prepare the bill as part of the bill itself and in any event they had included the trainee legal executives’ time for preparing the bill at £110. So, for more or less the same cost they could have employed experienced costs lawyers to do the bill and saved a lot of heartache.

Given the butchery of the claimant solicitor’s bill, and the time and expense spent on the whole sorry scenario, this case perfectly highlights the risks inherent in not using experienced costs professionals. Regardless of efforts made and resources available, certain standards must be met - as Winston would have said, it’s about doing “what is required.” And in the ever more complex costs landscape that increasingly means professional costs lawyer support.

When the bill was received, a process of gradually whittling it down began, starting with the defendant’s solicitors’ request for disclosure of the Conditional Fee Arrangement (CFA). The response? “Our client was not subject to a CFA in regards to this matter.” Which obviously begged the question, why was there a Martyn Jennings success fee of 20% in the bill if no CFA was in place. Despite this Phone: 0870 7777 100 obvious, glaring error it took another two versions of the bill before Mobile: 07771 778099 the success fee was removed. But removed it was, and as a Email: martyn.jennings@burcherjennings.com result of that and various other conduct issues on the claimant’s solicitors part, the bill was reduced to £55,393.19. A further lineby-line assessment, followed by the setting off of the costs of assessment which were awarded to the defendant, resulted in a much slimmed down net sum of £2,515.60 out of a final revised bill of £55,393.19. Quite a dramatic reduction.

Sometimes doing your best is not good enough The question here is clearly ‘how did this happen?’ The claimant’s solicitors decided to plead inexperience and lack of resources, identifying themselves as a small high street firm without the means to employ experienced costs lawyers. Instead, the firm used a trainee legal executive to do the bills, who made a statement in which he said he was “doing his best.” But Master Whalan was unimpressed. He said, “The claimant’s solicitors have been guilty of conduct that can be described properly as both improper and/or unreasonable.” He referenced Bailey v. IBC Vehicles Limited [1998] All ER D 113 or 3 All ER 570 in which Lord Justice Henry underlined the importance of ensuring the bill of

SurreyLawyer 21

Articles

Photo caption: From the left Megan Cunningham and Frazer Watt (winners), DJ Mark Sutherland Williams, Oliver Noyce and Hugo Porter (runners up).

Mooting Competition Grand Final.

On Thursday 18th May the University of Law moot final was held in front of DJ Mark Sutherland Williams on the subject of criminal intention and the defence of necessity. Four students locked horns over the case of Re:A (conjoined twins) to argue whether or not the defence of necessity was available in a murder case on different facts to that very specific and emotive case. Further, they argued about how the test of intention should be described and applied following R v Woollin and associated cases.

After nearly an hour of extremely articulate and professional submissions, judicial interventions and answers, the winners were Megan Cunningham and Frazer Watt. The runners up were Oliver Noyce and Hugo Porter (see photo). The law tutors were all very grateful that there was a professional judge at hand to decide between the two teams, as it was a close contest.

The winners received ÂŁ300 each and the runners up ÂŁ150 each in internet shopping vouchers courtesy of Lexis Nexis. All four students should be commended for their hard work and diligent efforts. The staff at the University of Law are proud of all of them.

22 SurreyLawyer

Mooting is encouraged for all students at the University of Law, with an introductory program for first year undergraduates and the mooting competition open to all other undergraduates and postgraduate students. Mooting builds self confidence, team work, legal research, presentation and advocacy skills and any student who has mooted on an academic subject is more likely to excel at that subject in an exam. This year approximately 20% of full time GDL and a number of students from other courses entered the competition.

Articles

The ILBF Project A group of students representing all University of Law courses are currently working to collect a selection of legal textbooks to pack and send to the Law Development Centre in Kampala, Uganda.

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hey are seeking to create a collection of second hand law books which we no longer need but would be useful to law students, professors and the local legal community at this under resourced university.

They are working with the International Law Book Facility, a charity set up ten years ago by a group of lawyers and publishers in order to recycle legal textbooks and increase education and the rule of law worldwide.

The students have already received some offers of books from the Surrey legal community, the library, tutors and their peers at the University of Law. They have also been holding bake sales and ice cream sales to raise some funds towards their shipment.

If you or your firm or chambers have any second hand textbooks fitting the descriptions below please get in touch ASAP with ILBFGuildford@law.ac.uk We still need more books!

The current proposed shipping date to Kampala is at the end of July, and the students will gladly organise for somebody to collect your unwanted second hand texts from Guildford and nearby. Alternatively, if it is easy for you to drop off books at the University of Law on Portsmouth Road, GU3 1HA, the students are organising the collection there.

The Law Development Centre, Kampala has developed considerably through the help of the International Law Book Facility. It is the primary source of public legal education and policy development for the whole country of Uganda. University of Law senior tutor, Helen Carter, visited in 2008 and saw for herself the low quality provision of the law library.

Students had to queue for a timed turn with a book and then return it, whether or not they had finished working with it, so that the next person could have a look. The books were kept in a small controlled office (see photo) to be sure that they were shared out fairly. Students took them to a bare room with desks set out in rows and most appeared to be frantically copying out whole chapters to consider in depth later. The ILBF’s involvement has significantly improved waiting and reading times and broadened the selection of books available. Without good books for lawyers there is a genuine rule of law issue, that legal certainty and access to justice would be impeded. You can see reports and videos relating to this university and many other recipients at www.ilbf.org.uk University of Law students are running this activity almost without help from the staff and this is helping to develop a range of important transferable skills such as selling a concept, working as a team, effective communication, management and logistics. They are the first year group to be asked to perform this task and we hope that you will consider donating your unwanted books to them.

They are focused on collecting the core UK legal texts that will make an impact and be most relevant to the recipient organisations. Please follow the guidance below to ensure that the books you are sending will be able to be put to good use.

The ILBF does accept the following: University/GDL/LPC/BPTC student textbooks on all practice areas (including cases and materials texts) Practitioner and specialist texts on all practice areas Bound series of law reports, eg All England Reports Legal Dictionaries Legal encyclopedias, such as Halsbury’s Laws 1999 Green Book or 1999 White Book Archbold/Blackstone – Criminal Procedure The ILBF does not accept: Books in poor condition, either torn or marked.

Books more than 10 years old unless it is the last edition of a text and

Photo: The 2008 librarian in the book room at the Law Development Centre in Uganda. save as appears above Non legal books UK solicitor/barrister directories Civil Procedure (other than the RSC 1999 – see above) Statutes based materials such as Company handbooks etc Unbound weekly parts of law reports EU or Scots law materials Current law Citator

ILBF-Guildford@law.ac.uk

SurreyLawyer 23

Articles

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Preventing client leakage – key aspects that ensure financial strength for the firm A major difficulty for law firms is that unhappy clients will often not tell a firm directly that they are dissatisfied. Instead they will progressively use the firm less, or not at all, until the firm’s work from them has disappeared. That has always occurred, even in good times but at the moment pressures on clients to seek ‘best value’ are such that there is an even higher risk for law firms of losing good clients to competitors.

The client – based research we have carried out consistently demonstrates that unless law firms listen to their best clients and act accordingly, then those clients will migrate to other firms. The graph below based upon many law firm client interviews shows the extent to which many law firms unknowingly risk losing a substantial part of their client portfolio. The economic cost and risks involved are significant and typically represent 15% of a firm‟s revenue. Survival is at stake.

Our research also shows that the cost and effort needed to ensure client satisfaction and thus the retention and development of good clients is many times less that the cost of trying to win new business. The graph shows that, typically, 3 out of 10 clients have hidden potential to grow that the firm has not identified. Thus, together with “at risk” clients, typically nearly half of a firm‟s key clients give feedback that provides an immediate financial payback to the firm.

“Protecting your backyard” should be the most obvious and profitable step to take to ensure not only survival in an increasingly challenging legal environment but also one of the best ways to build long term competitive advantage.

This is also critical when, for example, reviewing a firm‟s strategy.

The key is not just to rely on what you hope or believe to be true but what clients genuinely think. This note summarises some of our most important research findings from interviewing clients of law firms, and in particular from those clients which were in the „at risk‟ category shaded red in the above graph.

Understanding and then responding to the issues outlined has created immediate financial benefit and has clarified future direction for each firm. We‟d recommend putting the subject of client feedback on the agenda of your next partner meeting to discuss how your firm can benefit.

Perceived lack of skills and technical expertise Our research shows clients absolutely expect that law firms have the necessary technical expertise to get the results which they require.

This is not always a „given‟. Clients express their concerns in a number of different ways and firms need to respond differently depending on the nature of any “gap”. For example: “They are OK for most work but when it comes to something really important to us, we go [elsewhere]” “If [named partner] is not there we go elsewhere because they lack depth of expertise.”

“They need to improve the quality of staff in the 2nd tier”.

It is also unquestionably true, as many clients put it, that “it is not enough just to be a good lawyer”. The following factors all demonstrably influence the choice of firm.

Brand and firm positioning Firms win and lose work based on how clients and key decision makers perceive them. Clients often refer to factors around complexity, risk, or size as potentially important in specific transactions. For example: “For high value / high risk work I would use a big name firm – very unlikely to get bad advice” “Our accountants tell us to use a ‘corporate’ firm” “The firm is under pressure if it does not do some bigger corporate work” “Sometimes we don’t use them for complex work” “(They) may not be able to do complex transactions”

24 SurreyLawyer

Lack of client awareness of specialisms offered Sometimes the problem is not so much actual lack of technical expertise, but more a failure on the part of a firm to make clients aware of what the firm can do: “They must not assume that people know what they do” “If I had a £5m project, would I think of (Firm)…probably not…I would think of one or two others first… it may be that I don’t know enough re: the full extent of their expertise”.

“Not sure if they have certain capabilities” “They are not proactive with their own clients” “I don’t think they have anyone in litigation...but if (the client partner) told me they did, I would trust him...I’d be interested in talking to them” “Maybe not so good at telling people what they do” Speed and other ‘service’ factors such as meeting deadlines, keeping commitments, the ability to offer advice quickly and efficiently, keeping clients informed of progress and care and attention to work can also determine if a firm continues to be retained for work.

Importantly, clients often infer that poor responsiveness indicates a lack of capacity and that the firm is overstretched. This also can prompt them to try other firms.

“Their response times leave much to be desired” “We had to chase all the time … we said it was urgent but it still ended up drifting” “They didn’t communicate enough, or didn’t seem to be on top of things” “I don’t believe they have the resources” Relationship/understanding of needs The example of a firm with a client representing 25% of the revenue of one of its practice areas is instructive here. The firm was unaware that is was likely to lose that relationship in an imminent review of panel firms. Being aware of the client feedback below, and effectively responding to it, enabled them to retain their biggest client: “For service, I would rate them 8.5 out of 10 (they are upper quartile on this)...for strategic value I would rate them 2/10” Value for money Interestingly, price on its own is rarely a determining factor. However value for money is. The clients of one firm were clear as to their requirements: “They always try to sell to us on price – but what we really want is to have a good job done at a reasonable price” - provide their clients with what they need (rather than what the firm thinks they need) - at prices their clients perceive to be value for money; and - do this better than their rivals, client satisfaction improves and clients are more likely to retain a firm, or consider using it for more work.

Of course, for any individual firm it is key to identify what is important to its own clients, and how the firm currently performs in key areas. To be unaware of or to ignore client perceptions is to put at risk a firm’s very existence.

For more information on client perceptions of law firms, please contact: Peter Scott Robin Dicks pscott@peterscottconsult.co.uk robin@thrivingcompany.co.uk Mobile: 07725 039 573 Mobile: 07940 886677

Events

S L S

E v e n t s

D i a r y

f o r

2 0 1 7 :

EVEnT DATE

TITLE

VEnUE & TIME

Fee for SLS Members

CPD

Wed 13th September

Conveyancing with Denis Cameron

Denbies, Dorking 2.00 to 5.15

£126 inc VAT

CPD

Thurs 21st September (all day event)

Private Client Conference

GLive, Guildford 10.00 to 5.00

£156 Early Bird to 14th July

CPD

Wed 27th September

Risk & Compliance with Matt Moore

Denbies, Dorking 2.00 to 5.15

£126 inc VAT

CPD

Thurs 5th October

Navigating the Path from Qualification to Partnership

Denbies, Dorking 2.00 to 5.00

£156 TBC

Social

Thurs 12th October

SLS Annual Gala Dinner

CPD

Thurs 19th October (all day event)

Conveyancing & Land Law Conference

GLive, Guildford 10.00 to 5.00

Social

Thurs 23rd November (to be confirmed)

AGM & Members’ Reception

6.30 for 7.00

Doubletree Hilton, Kingston upon Thames

7pm for 7.45pm

£66pp inc VAT

£156 Early Bird to 14th July FREE

SLS Terms & Conditions plus further details of our events, CPD, speakers and online bookings are available on the SLS website www.surreylawsociety.org.uk or from the SLS Administration Office – admin@surreylawsociety.org.uk There are 3 easy ways to book once you have selected your course from our website at www.surreylawsociety.org.uk: 1) Online with a credit card. Follow the online link to Eventbrite Bookings. Please note there is an additional handling charge for card payment.

2) Download a Booking Form and send to Surrey Law Society with cheque payment (address and/or DX below).

3) Email sueseakens@surreylawsociety.org.uk to reserve a place pending payment and request an invoice. All courses must be paid for in advance.

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SurreyLawyer 25

Conveyancing Focus

Think Of Us As Part Of You…!

by Kevin Johnson

In the Surrey Lawyer Autumn 2015 issue I wrote about the role of today's search agent.... at that time I said that we should be ‘seen but not heard’; I've since changed my perspective!

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felt then that we should be proactive in providing good accurate information, in a timely manner at a competitive price, and that was all that was needed. It's become very clear to me that conveyancing solicitors need the protection of a much more collaborative arrangement with trusted partners, not just a remote supply chain.

I adopted the strapline 'Think Of Us As Part Of You' for my business; this is increasingly becoming my philosophy. At Index, we work extremely hard to ensure that our customers feel fully supported at all times. For us, this means providing every assistance pre-order, including helping with mapping, through to the return of the additional information required once the conveyancing solicitor has seen the report i.e. planning decision notices and building control completion certificates (and we will do this whether it is a purchase or a sale - for me, a customer is not only one that is paying for a specific service, but for all their requirements 24/7).

The process of getting the Local Authority report / information and associated products is the 80%.... it’s the additional 20% that sets Index apart.

There is such a plethora of search agents in a very crowded marketplace and when you couple this with the vast array of other software being 'pushed' I cannot help but think that solicitors are almost faced with too much choice. Glossy marketing, slick presentations and aggressive sales behaviour seems to be driving a number of solicitors into buying products and services which ultimately are inappropriate for them, or I said in Autumn 2015 worse, do not deliver on the promises upon that those that we which the sale was made.

We've recently lost clients to the purveyors of heavily marketed Case Management Systems (on the pretext that the CMS is ‘free’ subject to the solicitor using a particular search provider) only to find that they are desperate to return to our trusted haven when the gloss of the search promise is exposed as a very thin veneer.

Whether the CMS delivers on its promise is another entirely separate discussion point!

support most successfully are often the paralegals, assistants, secretaries and interns; this is still true.

The rapidly increasing number of search reports being sold through well-known re-suppliers, as well as the new entrants, can also be mind-boggling and confusing. And even with the rainbow of reports available, Bird and Bird still managed to find themselves on the wrong side of a £26 million lawsuit. At Index we know the product landscape intimately and our ‘counsel’ on which reports are right and appropriate in any given situation is a valuable component of our service. We would never abandon our clients to the morass of options without being on-hand to advise when needed.

26 SurreyLawyer

I said in Autumn 2015 that those that we support most successfully are often the paralegals, assistants, secretaries and interns; this is still true. So often, relatively inexperienced members of staff are tasked with the search 'function' and many can often find themselves out of their depth. It is at this point that Index availability and support becomes priceless.

I have never been interested in simply selling products; we can do glossy and I hope that my sales presentations are slick but if there is no substance to the promises that we make then my business will fail. The fact that we have an extremely loyal, and growing, customer base does, I think, speak volumes for the collaborative and supportive approach that we take. There is always space for more good customers though and so if you’d like to hear more about what we do, and how, then do contact me. And if it would help to hear the views of any of our very contented customers then that can be arranged too! ■

For more information please contact me at 0203 044 2758 or on email at kevin.johnson@indexpi.co.uk

Conveyancing Focus

Photo: Richard Hugo-Hamman LEAP Executive Chairman (L) Peter Baverstock LEAP UK CEO (R)

LEAP celebrates 1000 UK firm milestone More than 6,000 end-users of LEAP in the UK LEAP Legal Software has doubled its UK customer base in the last twelve months and has now passed the 1,000 firm mark with over 6,000 end users of its integrated case management platform.

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he first legal practice in the UK signed up to LEAP in January 2015, in April 2016 there were 500 firms using the software and now there are more than 1,000. This rapid growth in firms switching to LEAP has been accelerated by the recent launch of LEAP 365, which enables a lawyer to access up-to-date document, matter and accounting information, from whichever device they are using worldwide. LEAP 365 includes the UK’s largest library of automated forms, document management for the firm and clients, time recording, billing and client accounting.

“We’re very proud to have over a thousand law firms using LEAP software in the UK. All these firms are using one product on one technology. We believe this is a first in the UK legal market.” comments LEAP UK CEO Peter Baverstock. “Our unique ability to electronically convert data from the old outdated system many firms are still languishing on has helped us to smoothly bring these firms into the 21st century to compete more effectively. Our conversion team in Edinburgh have done wonders!”

To help with its rapid growth LEAP undertook an independent, anonymous employee survey in February 2017, statistics show that 92% of the workforce understand the company’s mission and how they can influence it, 94% see a clear link between their work and the company’s goals and objectives and that 95% feel LEAP is a good employer.

Richard Hugo-Hamman LEAP Executive Chairman adds “Success has many fathers but in this instance the popularity of LEAP amongst UK law firms can largely be attributed to Peter Baverstock and the rest of his leadership team. They have faced and conquered tremendous scaling up challenges and to have more than a thousand law firms operating more efficiently and profitably than ever before, is a testament to their skills and the quality of service they provide.

SurreyLawyer 27

Conveyancing Focus

Tailored Regulation from a Specialist The Council for Licensed Conveyancers (CLC) was established in 1985 to foster competition and innovation in the conveyancing market.

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he CLC has always looked to be a proactive regulator in anticipating and monitoring the issues that affect the licensed conveyancing community. We work closely with all our licence holders and we listen to what they say, helping them to achieve the right outcomes for consumers.

The CLC regulates thriving firms of all types and sizes, and has always looked to promote high regulatory standards. Each CLC Practice is allocated a Regulatory Supervision Manager (RSM) whose role is to guide them in all regulatory and compliance issues.

Today, we are still helping legal businesses to thrive by finding new ways to meet changing customer expectation. Our approach is to support firms to achieve compliance and to accommodate different ways of working where we can. In 2016 we were awarded the highest overall rating of any legal services regulator by the Legal Services Board.

Should you wish to discuss your Practice’s requirements, whatever your business model, we will be more than happy to meet with you, or discuss them over the telephone.

Please email licensing@clc-uk.org

There has also been no need for an accreditation scheme for CLCregulated firms or lawyers, thanks to their specialisation and the effectiveness of our tailored regulation.

In a recent survey, three quarters of licensed conveyancers stated that the CLC provides value for money and supports them in developing their businesses. From 1st November 2016 the CLC reduced its regulatory fees rates for Practices by 20%.

TAILORED REGULATION OF SPECIALIST LAWYERS PROTECTING THE CONSUMER SUPPORTING INNOVATION, COMPETITION AND GROWTH

If you would like to find out more about CLC regulation, or are considering becoming a CLC regulated Practice then please visit the CLC website: http://www.conveyancer.org.uk/Regulation-by-CLC.aspx where you will find more helpful information, including how to qualify as a CLC Lawyer: http://www.conveyancer.org.uk/trainee-lawyer.aspx

IT’S TIME TO THINK ABOUT THAT MOVE

To find out more about how your practice could benefit from transferring to the CLC, contact us on the details below.

www.clc-uk.org/Changing-Regulators or call 020 7250 8465 28 SurreyLawyer

Conveyancing Focus

TWPS expands portfolio to include unexploded ordnance devices search Thames Water Property Searches (TWPS) is delighted to announce that it has added Bomb Search, Landmark’s preliminary and detailed unexploded ordnance threat and risk assessment reports to its portfolio. onveyancers working with developers, individuals building a new house, or those undertaking building work (such as extensions to residential or commercial properties) in areas where bombing has historically taken place are strongly advised to add the reports to their standard bundles.

The preliminary report is an initial screening that determines potential dangers. If identified, clients can order the detailed version, which analyses all factors to provide a semi-quantitative report that meets the requirements of the risk assessment framework outlined in the Construction Industry Research And Information Association’s (CIRIA) “Unexploded Ordnance (UXO) – A Guide for the Construction Industry” C681 report.

Although the likelihood of an inadvertent detonation is low, the presence of an item of UXO can have significant implications. If sites with potential UXO risks are not managed properly, it can lead to project delays and increased costs, which is why proactive risk assessment is so important.

For example in March 2017, an unexploded 500lb bomb from World War Two was unearthed at a construction site in Brondesbury Park, North London. The discovery prompted evacuations and caused delays to the project, as well as making national headlines.

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Unfortunately, this was not an isolated incident. Official figures show that approximately 15,000 items of ordnance were discovered at UK construction sites between 2006-2008. These items ranged from mortar rounds to high explosive aerial delivered German bombs.

“Both Bomb Search reports are vital tools for conveyancers because they show both the probability of encounter as well as the consequence of any encounter,” says Phil Hill, Account Manager at Landmark.

“No one can say for sure whether a device will be found,” adds Phil.

“However, adequate mitigation measures can be put in place if the client has been forewarned that the possibility of discovery is high.

Clients will be health and safety compliant while avoiding excessive delays and any associated increase in costs should any UXO be found, especially during site investigation and groundwork phases.”

The Bomb Search preliminary report is priced at £195 exc VAT, while the Bomb Search detailed report is priced at £1,095.00 exc VAT. To find out more about how these reports can benefit your business call us on 0845 070 9148 or simply visit: www.thameswater-propertysearches.co.uk

SurreyLawyer 29

Financial

“About half the practice of a decent lawyer consists of telling would-be clients that they are damned fools and should stop.”

So said Elihu Root, the brilliant American lawyer, statesman and 1912 Nobel Peace Prize winner. His words got me thinking about how often we encounter clients, old and new, who need to be dissuaded from taking a potentially dangerous course of action, be it an unwise investment, encashment or other decisions. It can be a daunting prospect and requires a deft and diplomatic touch especially when the advice is not welcome. lanning how to offer advice without accounting for an individual’s profession is like planning to perform surgery without first taking the patient’s medical history. Well, maybe that’s a bit dramatic, as the dangers of failure are probably greater for the surgeon and the patient, but the point remains the same. Financial planning for any person will have the best-intended outcome only if performed and applied with reference to the variables that differentiate that person’s life from anyone else.

In this sense, the provision of financial and investment advice for members of any profession should be approached as a specialty, specifically targeting the distinct, comprehensive needs that come with it. Lawyers particularly require financial expertise and experience focused on the unique characteristics created by successfully practicing law. A lawyer may, in many ways, be like owners or executives of a business; yet, they are also quite

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different in many respects, particularly when they practice at a firm, and not in-house at a company. It is understanding and providing for those differences that sets an excellent advisor apart from an adequate one.

The former will understand the unique set of challenges and opportunities presented by clients who are lawyers which include, but are not restricted to, the following; Earnings flow; the transition from salaried employment to monthly drawings and a profit share in the case of equity partners, the need for cash contingency, short-term asset management strategies and planning for irregular capital distributions.

Tax planning; the pitfalls and advantages of self-employment, mitigating income tax and payments on account. Estimating tax obligations and planning for them is one of the single most important factors in a planning relationship. Tax obligations are likely to be substantial and can dramatically impact a liquidity throughout the year.

Restricted lists; having an advice model flexible enough to cater for and accommodate a firm’s compliance restrictions and avoid recommendations and investments that would breach them.

Risk management and assessment; in our experience, lawyers are afforded the opportunity to invest alongside their clients in private enterprises. While these opportunities may be quite attractive, they may also be unacceptably risky. The right level of due diligence, discipline, experience and balance in approaching them it essential.

Understand and challenge; on many fronts. Understand that lawyers tend to be trained to minimise risk, which in financial planning and investment terms can be unwise and may require challenge. That they appreciate efficiency and brevity yet should be challenged to spend time on the critical task of attending to their own financial plans. That they are trained and predisposed to be analytical and to ask questions, never taking anything for granted and rarely relying on the opinions of others so a good advisor must be prepared to spend extra time explaining concepts, providing information and challenging beliefs.

Here at S4 Financial we have often found that new clients come to us having delegated their affairs too lightly in the past and suffered as a result. Not all law firms are the same in terms of their offering, experience, range and depth of expertise and approach. The same is true of financial advisors.

Steven Vallery Business Development Director S4 Financial Limited

30 SurreyLawyer

Financial

Does our attitude affect profitability?

According to the Law Consultancy Network’s recent bi-annual survey in association with the Law Society Gazette, two key issues that continue to impact the legal sector in 2017 are cash flow and profitability. It seems that firms are continuing to struggle with inefficiency and this has an impact on bank balances – so sense tells us that if we tackle inefficiency, we can improve cash flow and profitability. There is however, one often overlooked area which could be the key – a link between a firm’s attitude and healthy finances. he legal landscape has changed in recent years and continues to do so, a by-product of which is that there has been growing pressure on profit margins. It is important though not to give in to dropping your fees unnecessarily to try and address the problem. You might just find that sticking to them will not lead to your clients, and potential clients, into voting with their feet – in fact they could be more likely to pay you a fair price.

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When assessing efficiency in a law firm it is important to assess the level of capacity amongst fee-earners, which is often judged by monitoring chargeable hours. This review can then aid the overall drive towards working more efficiently by highlighting potential wastage, and opportunities to fully utilise quality staff.

What’s more, recording time accurately is not just about counting the pennies, one of the widely used measures of performance in legal businesses is fees per fee earner, as it demonstrates the level of income that is generated by each fee earner. This then helps to gauge profits and good law firms will look to achieve three times salary costs when budgeting, so that once a third is spent on overheads, a third can be earned as profit.

Cut-price fees could be a reason why, on average, UK law firm profits are falling. According to the most recent benchmarking survey by NatWest, average profit margins for UK law firms dropped to 23%. In contrast, average profits per equity partner have increased and are now around £9,000 more than last year.

Reading between the lines, this means that growth in profit per equity partner could potentially be Clients will coming from an increase in volume, which has then naturally want offset the drop in efficiency – in other words, firms low prices and have increased their overall number of clients in increased order to increase profit. But, should firms be working smarter, rather than harder? competition

As an effective measure of profit forecasting, it can then be regularly reviewed in line with cash flow forecasts to make sure that the firm is living within their means. Accurate billing and detailed time keeping, as well as a focus on controlling and cutting non-key overheads, will also help ensure that profitability remains at optimum levels.

The NatWest Benchmarking Survey revealed that Clients will naturally want low prices and increased means that just 79% of participants had a detailed time competition means that they could be entitled to it. they could be recording policy – which meant that more than a Meanwhile, law firms’ costs are increasing all the entitled to it. fifth were unlikely to be accurately recording their time and this bartering could lead to lawyers billable time. Worryingly, this 79% accounted for thinking twice before billing a client for a high amount. It is no wonder that some firms are looking at increasing 89% of large firms, but 52% of small firms – so these smaller practices could be only running at half of their efficiency. client volumes to sustain a normal cash flow forecast, in order to keep costs low per individual. This approach is fine for a short Setting KPIs that are budget-focused, along with regular and period of time – low or non-existent profits will not lead to accurate management information will help everyone in the firm imminent closure, but this eventual erosion of profit, and therefore find a profitable way of working. cash, will eventually lead to business failure.

The Benchmarking Survey by NatWest was a recent topic It is this focus on profit that should be the driver of a change in discussed at a WK Law event – a series of seminars hosted by the firm’s attitude. There are two essentials that are key to longWilkins Kennedy aimed at law firms. The findings from the term profitability: professionalism and commercialism. Generally NatWest survey was just one of the topics covered, but we also clients will only instruct lawyers who can reflect true cover a number of topics from general business advice to VAT. If professionalism – and part of that includes confidence in what you are interested in attending one of our future seminars, please they are paying represents value for money. keep an eye on our events page at

www.wilkinskennedy.com/wk-events SurreyLawyer 31

Legacy

Canine Care Card Some dog owners worry what might happen to their dog if they were to pass away first, leaving their beloved four-legged friend without an owner. hankfully, Dogs Trust, the UK’s largest dog welfare charity, offers the Canine Care Card, a special free service that aims to give owners peace of mind, knowing that the charity will look after their dog if the worst should happen. Not only does this offer reassurance to dog owners, it also helps to ease the minds of friends and family during what is already a distressing time.

T

Over the past 12 months, Dogs Trust has taken in a whole host of dogs across its 20 rehoming centres in the UK as part of the Canine Care Card scheme and helped them settle into happy new homes. One of these such dogs is ten-year-old Jack Russell Terrier, Buddy who was taken in by Dogs Trust Glasgow when his owner sadly passed away. When he first arrived at the rehoming centre, Buddy was understandably missing his home comforts and hoping to find love again with a new owner. Thankfully, the team at Dogs Trust Glasgow were able to provide the adorable boy with a home away from home while he awaited his furry-tale ending.

Dogs Trust never puts a healthy dog down, and works hard to match every dog with a responsible, loving home. After being lovingly cared for by staff at Dogs Trust Glasgow, Buddy is now starting life with a new family, who have even registered themselves on the Canine Care Card scheme.

Sarah and Buddy the dog.

Adrian Burder, Dogs Trust CEO says, “Thanks to Dogs Trust’s Canine Card Card scheme, dogs in need of a new home are given a lifeline meaning that Buddy and many dogs like him are able to get a second chance at happiness and bring joy to a new family. If you decide to become a Canine Care Card holder, we will issue you with a wallet-sized card. It acts in a similar way to an organ donor card and notifies people of your wishes for your dogs, should anything happen to you. Dogs Trust also strongly recommends that you mention the care of your dog in your Will. That way, there can be no confusion about your wishes.”

Who’ll keep him happy when your client’s gone?

We will – as long as your client has a Canine Care Card. It’s a FREE service from Dogs Trust that guarantees a bereaved dog a home for life.

At Dogs Trust, we never put down a healthy dog. We’ll care for them at one of our 20 rehoming centres, located around the UK. One in every four of your clients has a canine companion. Naturally they’ll want to make provision for their faithful friend. And now you can help them at absolutely no cost. So contact us today for your FREE pack of Canine Care Card leaflets - and make a dog-lover happy.

Call

020 7837 0006

Or e-mail

today

ccc@dogstrust.org.uk

Or write to: Freepost RTJA-SRXG-AZUL, Dogs Trust, Clarissa Baldwin House, 17 Wakley Street, London EC1V 7RQ (no stamp required) Please quote “333339”. All information will be treated as strictly confidential.

This service is currently only available for residents of the UK, Ireland, Channel Islands & the Isle of Man

www.dogstrust.org.uk Registered Charity Numbers: 227523 & SC037843

32 SurreyLawyer

Book Review

INTERNATIONAL TRUST LAWS Second Edition

by Paolo Panico ISBN: 978 0 19875 422 0 Oxford University Press www.oup.com A GLOBAL APPROACH TO TRUSTS: NOW IN A NEW 2nd EDITION FROM OXFORD UNIVERSITY PRESS An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers ere, presented is a truly global approach to the subject, across no less than H thirty jurisdictions worldwide (we have counted them), with the largest number of cited cases emanating from the UK and the United States. Scotland and, predictably, Jersey also loom large in this thorough and erudite examination of virtually every conceivable aspect of trusts.

‘Trusts,’ says author, Professor Paolo Panico, ‘have established themselves as the main estate planning and wealth management arrangement of the western legal tradition.’ “Trusts” along with “trade” and “tea”, he adds, ‘were one of the “three Ts” traditionally associated with British civilization.’

Good thing that Henry VIII failed in his attempt to legislate them out of existence in 1535. The author also quotes a particularly famous comment on trusts as ‘perhaps the greatest and most distinctive achievement of English lawyers.’

Since the first edition of this distinguished work was published in 2010 (and for that matter, long before that), trusts have become notable for their popularity and ubiquity internationally. To the surprise of some, they have become popular under special legislation in what the author refers to as ‘jurisdictions with no historical contacts with the rules of English equity’, such as civil and mixed jurisdictions in Asia, Latin America and, recently, Eastern Europe.

Over fourteen chapters and more than 850 pages, Panico pursues this vast and complex subject with scholarly, yet cheerful thoroughness. ‘Trusts,’ he says, ‘have traditionally been used by individuals to establish rules governing the administration and enjoyment of their property after their death and in many cases, to retain a certain degree of control over said property during their lifetimes. There are of course, almost innumerable variations and ramifications pertaining to trusts which are carefully elucidated in this book.

Here then is an area of law which cannot fail to be taken seriously by serious players. So it is refreshing that we discover -in the book’s list of dedications -- that it has been written, at least partially, in memory of the author’s family cat, a Manx; a presumably tail-less and engaging creature who sadly died before the book reached its definitive printed version.

However, a kindly fate intervened in the shape of Scotia, a kitten (presumably Scottish) who emerged from under a fence to provide further inspiration and encouragement as a ‘pisicotherapist’. (We neither). Fortunately, we are informed in the footnote that ‘pisica’ is the Romanian word for ‘cat!’

It cannot be coincidental that Chapter 13 of the book, in discussing the approaches taken in various jurisdictions to enforce non-charitable purpose trusts, refers to specific rules for exceptional cases, such as trusts for commercial transactions -and trusts for the care of pets!

The book’s orientation is global, its subject matter vast and detailed. It covers analyses of the laws and the often parallel, as well as contrasting, approaches to trusts over a range of jurisdictions. It purports to identify trends and developments, explains the author, but does not attempt to provide ‘a comprehensive operational guidance to the laws of any particular jurisdiction.’

Its useful comparative approach, however, will obviously be of special interest to comparative lawyers, as well as academics and law students interested in, or specialising in, this rapidly expanding field.

Furthermore, with its detailed index, table of contents, extensive footnoting and sixty pages of tables of cases and legislation, the book is reassuringly easy to navigate.

Every international lawyer should have a copy.

The publication date is cited as at 2017.

PRINCIPLES OF MEDICAL LAW Fourth Edition Edited by Judith Laing and Jean McHale Consultant Editors: Sir Ian Kennedy and Andrew Grubb ISBN: 978 0 19873 251 8 Oxford University Press www.oup.com DEFINITIVE HELP WITH A VERY COMPLICATED SUBJECT: ‘THE PRINCIPLES OF MEDICAL LAW’ OUT NOW IN A NEW FOURTH EDITION FOR 2017 An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers edical Law: now there’s a complicated subject for you to get your head round, especially if you are a practitioner who specializes -- or intends to specialise M - in what has become a rapidly expanding area of law. Fortunately for you, the Oxford University Press has brought out a new and completely updated edition of ‘Principles of Medical Law.’ Long regarded as the definitive work in this area, this new edition, the fourth in fact, has been completely updated to encompass the new developments that have transpired since the previous edition appeared in 2010.

Writing in the foreword, Ian Kennedy and Andrew Grubb recall the day when medical law was a ‘relative newcomer’, in legal specialities. In their words, it ‘barely existed, such that you were free to make it up as you went along!’

It’s something of a sobering thought that that day has long gone. Nevertheless, they add, ‘this work always had in its genesis, an ambition to serve academics, practitioners and judges alike’ and, with its depth of scholarship and coverage, has since maintained ‘a claim to have fulfilled that ambition with style.’

As medical law is dependent on specialist practitioners, the emergence of a new edition of this classic text is fortuitous; especially so when the NHS is coping with an ageing population -- and when even the man in the street can tell you that the government has set aside billions in funding for medical litigation. Private medical practitioners are of course privately insured.

Developments such as these broadly coincide with what the editors refer to as the ‘fundamental rights-based approach in the courtroom….’ as (to cite only one

example), doctors are made aware of a duty to provide information to patients. Other areas of concern include end of life care and the determination of mental capacity.

Given the complexity and enormous scope of the subject, the book itself is a collaborative work of a distinguished and expert writing team: two editors, two consultant editors and upwards of sixteen other contributors.

Across almost 1,300 pages, seven parts and twenty-two articles, the book offers detailed analysis and commentary on a formidably broad range of other issues, from the organisation and regulation of health care, to actions arising from birth, to consent to treatment, to the regulation of medicinal products and medical devices – and of course, much more. Here is a field fraught with uncertainties and these too are dealt with in a measured, frank and analytical manner.

Of additional and indeed vital assistance to the practitioner are the almost ninety pages of tables of: (as listed) cases, legislation… statutory instruments… treaties and conventions… European law… and legislation from other jurisdictions. It’s helpful, too, that a text this size is easy to navigate, with numbered paragraphs, a detailed index and table of contents and extensive footnoting.

Given the pace of attitudinal and policy changes in this field, this book provides invaluable assistance to the practitioner charged with providing authoritative and carefully considered advice to clients -- and therefore a welcome addition to the well-stocked and up-to-date practitioner library.

The publication date is cited as at 2017.

SurreyLawyer 33

Book Review

COMPANY DIRECTORS Duties, Liabilities and Remedies Third Edition Edited by Simon Mortimore QC ISBN: 978 0 19875 439 8 Oxford University Press www.oup.com A MASSIVE WORK ON THE MASSIVE SUBJECT OF COMPANY DIRECTORS BRILLIANTLY REVISED FOR 2017 An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers here are now many books currently available which look at the changing role of the director and we welcome this new Oxford University Press edition of T“Company Directors” edited by Simon Mortimore QC and his formidable band of contributors.

We cannot thank OUP enough for these practitioner works which help us tremendously and make our lives so much easier when preparing a case.

The title has been rightly described by the publishers as “the established authority on the law relating to directors of companies incorporated under the UK Companies Acts” because that is what you get in 1,200 pages, 7 parts and 36 chapters.

Fortunately, the book is not as long as the new consolidated legislation itself!

The new edition features authoritative new case law and the “all important developments in the law including the Small Business, Enterprise and Employment Act 2015”. The importance of this innovative new Act is because it gives us “improves transparency (including requiring directors to be natural persons unless exceptions apply), simplifies company filing requirements, clarifies the application of general duties to shadow directors, modernises directors' disqualification and reforms insolvency law to facilitate proceedings where there has been wrongdoing”.

We found the emphasis in the third edition has been placed on the wealth of new case law relevant to directors' duties before the English courts, all of which are analysed and explained in a concise way and we include some examples in this review of the new decisions.

The authorities include Supreme Court decisions set out below: Prest v Petrodel Resources; Jetivia v Bilta (UK); and FHR European Ventures v Cedar Capital Partners and Eclairs Group v JKX Oil & Gas. Decisions from the Court of Appeal include Smithton Ltd v Naggar and Newcastle International Airport v Eversheds which are both well covered and explained.

Important High Court decisions highlight the following cases: Universal Project Management Services v Fort Gilkicker; Madoff Securities International v Raven; finally, the wrongful trading case, Re Ralls Builders.

The title also includes non-UK cases which are also analysed including Weavering Macro Fixed Income Fund Ltd v Peterson from the Cayman Islands' Court of Appeal and the 2016 decision of the Hong Kong Court of Final Appeal of Chen v Jason.

To balance the developments in recent case law and legislation, the editor has now included an expanded coverage of multiple derivatives claims, directors' exposure to third party claims and developed a new chapter on civil remedies for market abuse which will be of great interest to corporate lawyers.

This third edition has been properly described as “a complete reference work on the law relating to company directors” and it remains the first port of call for all serious corporate lawyers and academics covering this subject. It is also very useful for undergraduates studying company law.

The third edition attempts to state the law at 1st September 2016 although rules in the Insolvency (England and Wales) Rules 2016 apply from 6th April 2017.

BANK FAILURE Lessons from Lehman Brothers Edited by Dennis Faber and Niels Vermunt ISBN: 978 0 19875 537 1 Oxford University Press Business and Law Research Centre www.oup.co.uk TOO BIG TO FAIL? NOT IF YOUR NAME’S LEHMAN BROTHERS – AND HERE’S A LEGAL TEXT THAT TELLS THE FULL STORY An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers ou might say that the downfall of Lehman Brothers in 2008 was meteoric.

Plunging from the stratosphere of success recorded in January of that year, it Ycrashed to earth eight months later. It was too big to fail, but it did. The repercussions were far-reaching and generated what almost became a worldwide economic catastrophe.

The reasons why, being many and manifold, have resulted in much comment and analysis over the years, including, latterly, this recently published and most impressive legal text from the Oxford University Press. Surely ‘Bank Failure’ will become the definitive work of reference on this vexed subject. As a pivotal point in legal as well as economic history, the Lehman Brothers disaster makes riveting reading, especially if you happen to be a lawyer.

Page after page, this volume reveals the bewildering mixed-signals confusion that preceded the catastrophic failure of this apparently unassailable bank which ranked fourth behind Goldman Sachs, Blackstone and Morgan Stanley and ahead of J.P. Morgan, Merrill Lynch, Citi, Lazard, Credit Suisse and UBS. In January 2008, its stock reached a high of $65.73 per share. Eight months later its share price plummeted to $4.00, a decline of almost ninety-five per cent.

One of the key questions that emerges from this analysis is ‘where were the regulators?’ Turns out there were several of them, including the SEC (Securities and Exchange Commission), the Federal Reserve, the FRBNY (Federal Reserve Bank of New York) and a number of others – and in addition to those, the European Union. Interestingly, the major investment banks preferred the SEC regulation to EU regulation.

34 SurreyLawyer

The crucial point made here was that ‘no one agency was clearly in charge.’ It seems, for example, that the FRBNY, according the authors, ‘did not take steps to ensure that the SEC had the same information it had about the over-reporting of Lehman’s liquidity pool.’ The more simple minded among us who do not speak bank-speak will interpret this to mean that Lehman’s had a lot less money than it said it did.

As Lehman Brothers was a truly global institution with global reach and influence, this book is divided into three parts under three headings: the United States, the United Kingdom and Europe. There are references to other regions, particularly those in Asia. Some litigation is still pending, say the authors who also remark that ‘the sums at stake and the legal questions that had to be addressed were unprecedented in terms of scope and complexity.’

This must be one of the few legal texts around that reads almost like a medieval cautionary tale, albeit a detailed and protracted one, based on thorough and detailed research and also the personal experience and familiarity with the Lehman Brothers matter on the part of the majority of the of the book’s twenty-two contributors who include main insiders and third party experts. Also note the Foreword by Lord Justice Briggs whose 2012 Denning Lecture on the Lehman collapse has been included in Part II. The authors express the hope that the book will be of interest to policymakers practitioners, academics and students -- and, one must add, anyone involved in any aspect of financial services.

The publication date is cited as at 2017.

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