As COVID-19 continues to affect businesses around the world, law firms are beginning to ramp up cost-cutting measures with the announcement of redundancies.
In a recent consultation, two-thirds of solicitors did not consider their Practising Certificate fees to be good value for money.
Revenue generated by the UK’s legal sector in May 2020 fell by 12% compared to the same month last year, marking the lowest-earning month in four years. According to figures released by the Office of National Statistics, industry revenue fell almost 30% between April and May 2020, with April’s turn over relatively unscathed by the impact of COVID-19.
Augusta Ventures (Augusta), the UK’s largest litigation and dispute funding institution by case volume, has teamed up with Holman Fenwick Willan (HFW), a sector-focused law firm, and KPMG to provide a global “one-stop-shop” for companies needing funding for dispute resolution.