It takes more than four months for law firms to be paid for the work they do, according to chartered accountants Hazlewoods. However, payment times have improved by seven days since last year—125 days in 2017, compared to 132 in 2016. Moreover, fee earners are being more proactive about raising bills earlier when work is completed rather than waiting until the month end, asking for payments on account and raising interim bills as each stage of a matter is completed. Associate partner Andy Harris said: ‘The issue of turning “locked up work” into cash has troubled the legal industry for years.’
31 October 2018
Pay delays on the way out
MOVERS & SHAKERS
Gateley Legal—Jack Kelly
Gateley Legal expands Midlands residential development team
Gibson Dunn—Richard Surtees
Gibson Dunn adds employee benefits and executive compensation practice in London with partner Richard Surtees
Laytons ETL—Alec Cameron
Laytons ETL appoints new partner and head of intellectual property disputes
NEWS
A series of recent decisions has clarified important principles across property law, from perpetuities to lease renewals and public rights over land
Employers cannot rely on wellbeing services alone to defend workplace stress claims after a High Court decision awarding almost £1m to an overworked employee
Andy Burnham's brand of 'Manchesterism' could offer fresh thinking on legal aid and access to justice if it reaches Westminster, according to Roger Smith, NLJ columnist and former director of JUSTICE
The constitutional fallout from a change of prime minister, rather than the politics, is under scrutiny as questions arise over the limits of executive authority in a leadership transition
The legal profession is undergoing a fundamental shift from selling services to creating technology-enabled products, according to Professor Luke Mason, Head of School of Law at Regent's University London
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