Poll: Solicitor negligence claims risk on up
December 18, 2007
The financial viability of law firms is being threatened by solicitor negligence claims cases, a survey from Legal Week has revealed.
A majority of senior lawyers polled by the industry news source believe that a major UK firm collapsing due to solicitor negligence claims in the next five years is either "possible" or "likely".
Moreover, 72 per cent said that they thought the risk of firms being "targeted" by solicitor negligence claims has increased over the past half-decade.
By contrast, Legal Week reports that just one per cent believe that concerns have decreased over this period.
The survey was taken after a year of large solicitor negligence claims being made against some of the UK's most prestigious law firms.
Building society Nationwide recently launched a £20 million compensation claim against Eversheds - and Mayer Brown is also facing several major solicitor negligence-related claims relating to its role representing failed financial brokers Refco.