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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.
Chair of the Bar reports back
Marie Law, Director of Toxicology at AlphaBiolabs
A £500 donation from AlphaBiolabs has been made to the leading UK charity tackling international parental child abduction and the movement of children across international borders
Marie Law, Director of Toxicology at AlphaBiolabs, outlines the drug and alcohol testing options available for family law professionals, and how a new, free guide can help identify the most appropriate testing method for each specific case
By Louise Crush of Westgate Wealth Management
Marie Law, Director of Toxicology at AlphaBiolabs, examines the latest ONS data on drug misuse and its implications for toxicology testing in family law cases
A career shaped by advocacy beyond her practice, and the realities of living with an invisible disability – Dr Natasha Shotunde, Black Barristers’ Network Co-Founder and its Chair for seven years, reflects on a decade at the Bar
The odds of success are as unforgiving as ever, but ambition clearly isn’t in short supply. David Wurtzel’s annual deep‑dive into the competition cohort shows who’s entering, who’s thriving and the trends that will define the next wave
Where to start and where to find help? Monisha Shah, Chair of the King’s Counsel Selection Panel, provides an overview of the silk selection process, debunking some myths along the way
Do chatbot providers owe a duty of care for negligent misstatements? Jasper Wong suggests that the principles applicable to humans should apply equally to machines
There is no typical day in the life as a Supreme Court judicial assistant, says Josephine Gillingwater, and that’s what makes the role so enjoyably diverse
