The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Here’s the findings: 14 per cent of in-house lawyer respondents said that in the last 12 months the widest divergence between forecast budget and final bill was between 80 and 100 per cent, while 20 per cent said final bills were 40 to 60 per cent above estimates. Slapped wrists all round.
But more than a red hand could be in the offing for private practitioners if this blundering continues. Lawyers who are inaccurately forecasting litigation costs – which according to our researchers, is quite a chunk - are putting their corporate clients at risk of breaching England’s recently implemented civil justice rules.