*/
Profession
More international and commercial arbitrations take place in London under English law than in any other city of the world, the Legal Services Board has noted in its paper, ‘Market impacts of the legal Services Act 2007’, published at the end of October.
It reports that the London Court of International Arbitration has seen a growth in use by overseas parties, and predicts that this is likely to increase with the opening of the Rolls Building court centre last year.
The Bar is increasing its share of the export market – in 2010, its overseas exports totalled £152m, up from £131m in the year before, according to a report last year by TheCityUK. As the Bar Council has pointed out, barristers’ chambers and law firms make a significant contribution to the UK economy, amounting to £23.1bn or 1.8% of the UK’s gross domestic product in 2009.
Moreover, while legal services have been affected by the economic downturn, barristers are helping to drive recovery, according to the LSB’s paper.
It records that the total turnover of the legal services sector returned to pre-recession levels in 2010/11 (reaching £25.49bn compared to £25.47bn in 2007/08).
In the first year of the recession, between 2007/08 and 2008/09, solicitors’ firms experienced an 8% fall in turnover. Barristers and other non-solicitor legal services providers, however, saw their turnover grow during this period, “driving the return to pre-recession turnover levels for the whole market”.
Non-solicitor and barrister legal services consistently account for a third or more of total industry turnover.
It reports that the London Court of International Arbitration has seen a growth in use by overseas parties, and predicts that this is likely to increase with the opening of the Rolls Building court centre last year.
The Bar is increasing its share of the export market – in 2010, its overseas exports totalled £152m, up from £131m in the year before, according to a report last year by TheCityUK. As the Bar Council has pointed out, barristers’ chambers and law firms make a significant contribution to the UK economy, amounting to £23.1bn or 1.8% of the UK’s gross domestic product in 2009.
Moreover, while legal services have been affected by the economic downturn, barristers are helping to drive recovery, according to the LSB’s paper.
It records that the total turnover of the legal services sector returned to pre-recession levels in 2010/11 (reaching £25.49bn compared to £25.47bn in 2007/08).
In the first year of the recession, between 2007/08 and 2008/09, solicitors’ firms experienced an 8% fall in turnover. Barristers and other non-solicitor legal services providers, however, saw their turnover grow during this period, “driving the return to pre-recession turnover levels for the whole market”.
Non-solicitor and barrister legal services consistently account for a third or more of total industry turnover.
Profession
More international and commercial arbitrations take place in London under English law than in any other city of the world, the Legal Services Board has noted in its paper, ‘Market impacts of the legal Services Act 2007’, published at the end of October.
The Chair of the Bar sets out how the new government can restore the justice system
In the first of a new series, Louise Crush of Westgate Wealth considers the fundamental need for financial protection
Unlocking your aged debt to fund your tax in one easy step. By Philip N Bristow
Possibly, but many barristers are glad he did…
Mental health charity Mind BWW has received a £500 donation from drug, alcohol and DNA testing laboratory, AlphaBiolabs as part of its Giving Back campaign
The Institute of Neurotechnology & Law is thrilled to announce its inaugural essay competition
How to navigate open source evidence in an era of deepfakes. By Professor Yvonne McDermott Rees and Professor Alexa Koenig
Brie Stevens-Hoare KC and Lyndsey de Mestre KC take a look at the difficulties women encounter during the menopause, and offer some practical tips for individuals and chambers to make things easier
Sir Geoffrey Vos, Master of the Rolls and Head of Civil Justice since January 2021, is well known for his passion for access to justice and all things digital. Perhaps less widely known is the driven personality and wanderlust that lies behind this, as Anthony Inglese CB discovers
The Chair of the Bar sets out how the new government can restore the justice system
No-one should have to live in sub-standard accommodation, says Antony Hodari Solicitors. We are tackling the problem of bad housing with a two-pronged approach and act on behalf of tenants in both the civil and criminal courts