Evil Knievil: Lawyers are completely out of control
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As it happens in recent months I have been in the background of a litigation in Paris involving breach of copyright. It has transpired that the defendants are Chinese for whom, I am told, this sort of conduct is typical.
You may nonetheless imagine my surprise to find that my elder daughter’s firm has been subjected to this passing off by yet another Chinaman. It must be a national characteristic.
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Some years ago I bought Phosphorus bonds looking to BC Partners to pay up. Today, I learn that BC have agreed to pay a sum of the order of £4m+ the vast bulk of which is proposed to go to the lawyers who gouged this out of BC. Staggeringly, the lawyers do not feel any need to justify their barmy fees. As a result bondholders have refused to sign off their acceptance of this offer since there is very little available to those who have been denied the money due to them. As I have noted before, something will have to be done about lawyers’ fees. For lawyers are completely out of control.
Totally agree. This is a worldwide problem. They march to the beat of a different drum to the rest of us.
Liquidators are just as bad.
I could not agree more Simon. An absolute bunch of shysters.
You should come to Guernsey- it’s a national pastime here- largely driven by institutions who are not worried at the costs, where the man in the street does not stand the chance of ever being able to afford to defend themselves against such institutions. Not to mention defending oneself against any regulatory problems that arise. I feel it is a global problem driven by ambulance chasers…
I once compleated a building contract after the building inspector stopped the existing contractor working as he said his work was dangerous, And my firm was asked to take over,
The client was unable to fully pay me and said He was to take the first contractor to court a few years later the lawyer that he instructed to deal with this told him to settle out of court 3 days before the case was to be heard , So hearing
of this I went to see the client to get the rest of my bill paid only to be shown the settlement just covered the lawyers fee And left no sum what so ever over. So they only persons to come out of this paid up was the contractors and my clients lawyers