Criminal lawyer who lied in witness statement is struck off – Legal Futures

Posted September 3rd, 2018 in accounts, client accounts, disciplinary procedures, news, solicitors by sally

‘An experienced criminal law solicitor who broke the conditions on his practising certificate (PC) just days after they were imposed and then lied about it in a witness statement, has been struck off.’

Full Story

Legal Futures, 31st August 2018

Source: www.legalfutures.co.uk

“Off-Plan” Investment Schemes: Equitable Compensation – Hardwicke Chambers

‘The SRA has issued warning notices[1] to solicitors regarding whether they should act and how they should act towards their clients in relation to purported transactions concerning investment schemes. However, for many the warning will have come too late since many investors have previously parted with deposits (in some cases amounting to the client’s life savings) in return for worthless insurance bonds and unsecured interests in land or property which are also found to be worthless when the developer defaults on the development and becomes insolvent.’

Full Story

Hardwicke Chambers, 12th July 2018

Source: www.hardwicke.co.uk

Property agent jailed for spending £700,000 of his clients’ money – Crown Prosecution Service

Posted August 3rd, 2018 in client accounts, fraud, press releases, sentencing by tracey

‘A property agent who misspent £700,000 in rent he had collected for his clients has been sentenced to five years in prison today.’

Full press release

Crown Prosecution Service, 2nd August 2018

Source: www.cps.gov.uk

Tribunal lifts restrictions on solicitor who “carved out new area of expertise” – Legal Futures

Posted April 4th, 2018 in client accounts, disciplinary procedures, fines, news, solicitors, tribunals by sally

‘The Solicitors Disciplinary Tribunal (SDT) has removed the conditions on the practising certificate (PC) of a solicitor fined for allowing improper payments to be made out of client account.’

Full Story

Legal Futures, 3rd April 2018

Source: www.legalfutures.co.uk

National law firm fined £20,000 for using client account as banking facility – Legal Futures

‘National law firm Laytons has been fined £20,000 by the Solicitors Disciplinary Tribunal (SDT) for using its client account as a banking facility for a European network of law firms, a foreign client and a tax practitioners’ group.’

Full Story

Legal Futures, 22nd March 2018

Source: www.legalfutures.co.uk

Tribunal lays out Clyde & Co’s “glaring” failures – Legal Futures

‘The failures which led to a record fine for Clyde & Co were “particularly glaring” as it was “a large and, previously, reputable firm”, the Solicitors Disciplinary Tribunal (SDT) has declared in approving the sanction.’

Full story

Legal Futures, 19th April 2017

Source: www.legalfutures.co.uk

Former judge and assistant jailed after stealing more than £700,000 – The Guardian

‘A former judge and his law firm assistant have been jailed for six years each after siphoning off almost £700,000 from clients to hide debts, pay for holidays in Barbados and bet on races at Cheltenham.’

Full story

The Guardian, 27th January 2017

Source: www.guardian.co.uk

District judge conned wealthy clients to live luxurious lifestyle – Daily Telegraph

Posted January 20th, 2017 in client accounts, fraud, judges, news, solicitors by sally

‘A district judge conned wealthy clients to live a luxurious lifestyle and lied to his accountant who then killed himself when he realised he had been party to the crime.’

Full story

Daily Telegraph, 19th January 2017

Source: www.telegraph.co.uk

Disciplinary round-up: fine for firm which failed to make client’s visa application and then lost his passport – Legal Futures

‘A north London law firm has been rebuked for misleading its client into thinking that it had made a visa application on his behalf.’

Full story

Legal Futures, 13th January 2017

Source: www.legalfutures.co.uk

Probate manager who admitted 140 “improper withdrawals” from client accounts blamed pressure of work – Legal Futures

‘A probate manager who admitting making 140 “improper withdrawals” over a period of 11 years, resulting in a client account shortage of £730,000, has been banned from working for law firms.

Full story

Legal Futures, 17th November 2015

Source: www.legalfutures.co.uk

“Fundamentally decent” partner broke rules to keep firm afloat while waiting for legal aid payments – Legal Futures

Posted August 26th, 2015 in client accounts, disciplinary procedures, legal aid, news, solicitors by sally

‘A former president of Bolton Law Society, described by the Solicitors Disciplinary Tribunal (SDT) as a “fundamentally decent man”, made 61 improper transfers from client account and used a personal credit card to keep his firm afloat.’

Full story

Legal Futures, 26th August 2015

Source: www.legalfutures.co.uk

Bankruptcy trustee barred from charging costs to client account – Law Society’s Gazette

Posted June 5th, 2015 in bankruptcy, client accounts, costs, news, trustees in bankruptcy by tracey

‘A trustee looking after the affairs of a bankrupt law firm has been refused permission to claim costs from the client accounts of the practice.’

Full story

Law Society’s Gazette, 5th June 2015

Source: www.lawgazette.co.uk

Court Appeal overturns ruling that law firm wrongly paid out £2.3m from client account – Legal Futures

Posted February 23rd, 2015 in airports, appeals, breach of trust, client accounts, insolvency, law firms, news by sally

‘The Court of Appeal has overturned a High Court decision that a Sussex law firm wrongly paid out £2.28m it had received from a group of investors in what turned out to be a doomed airport investment scheme.’

Full story

Legal Futures, 20th February 2015

Source: www.legalfutures.co.uk

Withers’ bid to take client money dispute to Supreme Court rejected – The Lawyer

Posted April 13th, 2012 in appeals, client accounts, fees, law firms, news, Supreme Court by tracey

“Withers has been refused permission to appeal to the Supreme Court a dispute brought against it over client money.”

Full story

The Lawyer, 11th April 2012

Source: www.thelawyer.com

Lehman Brothers International (Europe) (in Administration) v CRC Credit Fund Ltd and Others (Financial Services Authority intervening) – WLR Daily

Posted March 2nd, 2012 in client accounts, financial regulation, insolvency, law reports, trusts by tracey

Lehman Brothers International (Europe) (in Administration) v CRC Credit Fund Ltd and Others (Financial Services Authority intervening): [2012] UKSC 6: [2012] WLR (D)  53

“The ‘client money pool’ to be distributed among former clients of Lehman Brothers’ London affiliate was not limited to money which had been placed in segregated client accounts, as required by the Financial Services Authority, but extended to identifiable client money which the company had failed to segregate and had retained in its own house accounts. The pool was to be distributed rateably among all clients who had a contractual entitlement to have money segregated and not just those in whose favour segregation had actually occurred.”

WLR Daily, 29th February 2012

Source: www.iclr.co.uk

Withers LLP v Langbar International Ltd – WLR Daily

Posted December 7th, 2011 in client accounts, costs, debts, interest, law reports, news, solicitors by sally

Withers LLP v Langbar International Ltd [2011] EWCA Civ 1419; [2011] WLR (D) 351

“In asking whether money placed in the client account of a solicitor’s client were subject to a lien in favour of the solicitor the key question was whether the money had been placed in the account for general purposes or for a particular purpose which was incompatible with a lien arising.”

WLR Daily, 5th December 2011

Source: www.iclr.co.uk

Barristers plan escrow scheme for holding client money – Law Society’s Gazette

Posted December 6th, 2011 in barristers, client accounts, news, speeches by sally

“The bar is looking into a scheme to allow barristers to hold client money through proxies, the incoming head of the bar said in his inaugural speech last night.”

Full story

Law Society’s Gazette, 6th December 2011

Source: www.lawgazette.co.uk

Solicitor jailed for £250,000 fraud – The Independent

Posted October 22nd, 2010 in client accounts, fraud, news, sentencing, solicitors by sally

“A solicitor was jailed for five years today after pleading guilty to fraud offences, which benefited him to the tune of almost £250,000, police said.”

Full story

The Independent, 22nd October 2010

Source: www.independent.co.uk

Woman jailed for stealing £1.7 million from employer – The Independent

Posted October 15th, 2010 in client accounts, news, sentencing, theft by sally

“A cashier at a firm of solicitors who stole £1.7 million over seven years to finance a luxurious lifestyle for herself and her husband was today jailed for five years.”

Full story

The Independent, 15th October 2010

Source: www.independent.co.uk

Lehman Brothers International (Europe) (in administration) v CRC Credit Fund Ltd and others – WLR Daily

Posted December 18th, 2009 in client accounts, insolvency, law reports, trusts by sally

Lehman Brothers International (Europe) (in administration) v CRC Credit Fund Ltd and others [2009] EWHC 3228 (Ch); [2009] WLR (D) 371

“The statutory trust created by Chap 7 of the Clients Assets Sourcebook (‘CASS 7’) issued by the Financial Services Authority (‘FSA’) took effect upon the receipt, rather than upon the segregation, of client money. Pending segregation of client money, a firm was obliged to take reasonable steps to ensure that, in relation to client money mixed in its house account with the firm’s own money, clients’ rights in relation to that client money were not put at risk, and the client money was not used for the firm’s own purposes. Client money outside the firm’s segregated accounts did not form part of the client money pool (‘CMP’).”

WLR Daily, 17th December 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.