Three quarters of the lawyers surveyed by Birminham University said that they are being forced into accepting more challenging conditions when they are commissioned by clients and that there is little room for discussion. Many said that the 'balance of power had shifted' from law firms to their clients.
Free tax advice
In some cases, banks even suggest which law firms should represent other parties in deals. Some clients are also insisting that certain kinds of advice - including tax - should be given for free. The report - Research on lawyer-client relationships in large firms: Independence, reputation and risk report - is based on interviews with 53 senior corporate and finance lawyers from 20 of the largest UK firms. Source: Solicitors Regulatory Authority
Email your news and story ideas to: [email protected]
