Results tagged “recession” from LDP - The Legal Week

A MERSEYSIDE law firm is urging recession stricken small firms not to "bury their head in the sand" as a second wave of business collapses looms in the autumn.

Mace & Jones insolvency unit partner Graeme Jump said while many exposed companies have already succumbed to the pressures of the recession, a new round is inevitable after the summer break.

Official figures show that North West insolvencies dropped to 35 in June, compared to an average of 48 per month since the start of the year.

THERE is constant discussion as to whether we can call "the bottom of the property market" and with significant uncertainty still in the market it's a very difficult call to make.

But we have seen increasing signs of clients willing again to invest which suggests there may be profit to be made which is some change from the trend over past months.

A very significant and successful London based operator in the national property market said recently history has shown that residential property has, on average, risen between 6% and 7% per annum for the past 50 years, despite big ups and horrible downs. My experience over the last 25 years reflects that and it is a statement of fact.

Andrew Whalley on how the middle classes are getting up to no good during the recession.

I'VE NOTICED a growing number of stories in the press about the desperate measures being taken in the face of the recession.

Certain stories come as no surprise, with people tightening their belts and spending less on high cost items such as cars and holidays abroad, or downsizing to cheaper brands at the supermarket.

But it seems that the middle classes have been turning to a life of crime to help them ride out the current economic storm.

LDP Legal yesterday broke the news that DLA Piper's Liverpool office could lose up to 13 of its support staff in the company's latest round of cuts

But before that story went online, I spoke to solicitors formerly of that parish, as well as managing partner Philip Rooney.

One recently-departed DLA solicitor told me the Liverpool office sits under a cloud of nerves. The former insider said the office feels like Manchester's younger brother and is jumpy about being cut loose from the company altogether.

LAW FIRM DLA Piper confirmed yesterday up to 13 jobs could be culled from their Liverpool office.

The firm, which is based in the India Buildings in the city centre, started a nationwide consultation yesterday that could see 140 employees made redundant.

Around 30 of those are likely to be fee-earners, with the remainder support staff in DLA's eight offices.

Clive Bleasdale discusses commercial tenancy agreements in the current market.

THE MAJORITY of retailers are struggling with business in the current climate and an increasing number would like to pay rent on a monthly rather than quarterly basis.

Landlords have been getting nervy at the prospect and at the moment a question I'm being asked a lot is if a landlord has flatly refused such a request, is there any legal challenge that can be brought?

So if you are a retailer in this situation, it is worth considering the following advice.

BANKS could face legal action by disgruntled workers if they are denied bonuses, a City lawyer said tonight.

Ronnie Fox revealed he is representing clients at three different banks who maintain they are entitled to payouts despite the recent conditions.

The specialist in employment law said a large number of bankers could take action if the Government imposes a blanket ban on bonuses.

NOW that memories of our Christmas and New year celebrations have faded many of us are attempting a business plan for the next 12 months or more in the post Capital of Culture era and in the midst of a recession.

Challenging times in many ways but to a degree we've been there before and the challenges faced are no bad thing in forcing concentration on ensuring the key elements of business success are in place.

HORDES of retailers, pubs, hotels and manufacturers are tipped to bow under the pressure of the deepening recession.

But according to Liverpool insolvency experts, law firms are now also in the mix.

David Moore, Liverpool-based partner at corporate recovery specialists Begbies Traynor, has seen a surge in the number of firms looking for help. Here he gives his insight into troubled times.

"We have recently dealt with a number of struggling and insolvent law firms in the region and I suspect we will see an increase over coming months.