January 2025 / 29 posts found
Major report reveals litigation cases on the rise, with average cost over £600K
Law firm Shoosmiths has just released its 2nd annual litigation report, based on the responses of 360 senior in-house lawyers and general counsel within major UK businesses with a turnover of £100m+ and including the tech, telecoms, automotive, real estate and financial services sectors. The average cost of a major dispute in the UK is now over £600,000 — and costs and reputation are bigger considerations than the merits of a case when deciding whether to bring a claim, according to this report, entitled “Litigation Risk 2025: Balancing today’s disputes with tomorrow’s risks”. Given the growing risks to reputation, especially with the […]
FCA anti-greenwashing rule managing regulatory and litigation risk
On 23 April 2024 the FCA published its final guidance on the new anti-greenwashing rule (AGR), which is due to come into force on 31 May 2024. This followed publication of draft guidance in November 2023, the consultation on which closed in January 2024. As discussed in one of our previous articles, a number of industry responses to that consultation highlighted areas of ambiguity in the draft guidance, leaving firms concerned about regulatory and/or litigation risk arising, and seeking clarification from the FCA. While the final guidance has gone some way to addressing those, in its feedback statement the FCA […]
SRA issues warning to firms over sham litigation
Kaur: Sought to instruct several law firms The Solicitors Regulation Authority (SRA) has urged law firms to protect themselves from sham litigation, which can be used to bypass anti-money laundering rules. In new guidance issued this week, the regulator highlighted a recent case where a serial fraudster tried to instruct multiple law firms in a bogus dispute. Sham litigation involves criminals or their associates orchestrating fake disputes and instructing lawyers to pursue a claim whose outcome – whether a judgment or settlement – serves as a front to transfer illicit funds or assets. As litigation is not an activity within […]
Thinking Divorce? Here is a Checklist to Prepare
Thinking divorce? Knowledge is power. When you know what to expect before, during, and after divorce, you can better prepare for your future. But divorce is an emotional and stressful experience. Equip yourself now with the information you need to make informed decisions – rather than emotional ones – to secure the financial and emotional well-being of your family after your divorce is complete. I’m thinking divorce. Where do I start? 1. Make a Checklist Run a credit report. This is the baseline for assessing your current financial situation and how you will move ahead on your own. Develop a budget to […]
How to split your finances in a divorce: 4 assets to consider
Divorce is a stressful time, and with the first Monday of January often seeing a spike in divorce enquiries, many couples are now turning their attention to the financial side of separation. While no-fault divorce, introduced in 2022, allows couples to divorce without attributing blame, you’ll still need to sort your financial affairs. These can include property, pensions, savings, and investments. However, experts have warned rising living costs and high mortgage rates could make dividing financial assets all the more complicated. Here, Which? explains how finances are typically split and highlights four key areas to address if you’re filing for […]
Children’s Wellbeing and Schools Bill progresses, but Children’s Commissioner highlights missing priorities – Family Law Week
On 8 January 2025 the Department for Education issued a Statement ahead of the subsequently successful further reading of the Children’s Wellbeing and Schools Bill. Within that Statement they note proposed key benefits, stating: “Major reforms to protect thousands of vulnerable children hidden from sight will take another crucial step forward today, as the Children’s Wellbeing and Schools Bill is debated in Parliament (8 January 2025). Children not in school registers, stronger powers for councils to make sure children are getting the right education, and a unique identifying number for every child are part of major reforms to help tackle […]
How to Win at Divorce–It’s The Small Wins That Matter
Want to know how to win at divorce? It’s the small wins. When I think about celebrating small wins, it reminds me of a story from a client who we’ll call Mary. Mary was navigating her divorce with the weight of the world on her shoulders, feeling overwhelmed by the unknown. She wasn’t sure where to start, and every day felt like one more step on a never-ending uphill climb. Like many, she was stuck in the idea that her life wouldn’t be okay until all the pieces fell perfectly into place. But here’s the thing: waiting for that perfect “big […]
How to be fair in divorce when it comes to money and keep costs down
‘No fault’ divorce has made splitting up simpler and speedier since it was introduced a few years ago. Couples can get divorced within six months of first applying and the process is largely online. However, financial settlements are still dealt with in a separate and parallel process, which can continue long after the divorce is final. The New Year is often when couples get divorce proceedings under way, after spending an unhappy festive season together. However, one lawyer tells us it is ‘a complete fallacy’ that January is the busiest time for divorce. ‘While there is a slight uptick in […]