Over-charging by major City law firms could be as high as £5bn over the last five years. I estimate that the flawed system that lawyers continue to use to produce bills has led to charges that are, on average, 5%-10% higher than they should have been across the board. And I believe that when the fundamentally flawed system finally unravels, it will make the MPs expenses scandal look like children taken a few loose sweets from a corner shop. The background to these comments comes as a result of having compiled what is considered the definitive survey of hourly rates charged by the profession for the last 13 years.
Costs lawyer Jim Diamond (pictured) argues major law firms have over-charged their clients by £5bn in the last five years Over-charging by major City law firms could be as high as £5bn over the last...
Monica Burch is set to return to the firm in September as a part-time consultant
The 46-storey City landmark is to be refinanced by a loan underwritten by ING Real Estate Finance and Germany's LBBW
The firms may face questions as part of a Parliamentary investigation into the sale of the retailer prior to its collapse
UK law firm's consulting business has opened its first office outside the UK since its launch in February last year
Freshfields is advising long standing client Cinven while Allen & Overy is the owner of Thompson Airways and Thompson Holiday