PII and successor practice issues under the SRA Minimum Terms and Conditions (MTC) have focused minds for those seeking to take on teams from Axiom Ince. The risk issues are not confined to the MTC in our experience and we have advised on the insurance aspects of many acquisitions following collapse of large international (and smaller) firms. An article, Successor practices for solicitors: Crystal ball required, is on our website. See www.legalrisk.co.uk/Publications with articles on a variety of other PII practical issues.
We understand that on 29-30 November 2023 the Court of Appeal will hear an appeal against the decision in Discovery Land Company LLC v Axis Specialty Europe SE [2023] EWHC 779 (Comm); the first instance decision raised important points under the MTC, including what constituted condoning of dishonesty and aggregation.
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