A Lot of Law Firms Are Collapsing
5 hours ago (it became nothing but an industry):
6 hours ago JF Law published this article which says: "If your solicitor has suddenly gone out of business while handling your claim, it can feel overwhelming and uncertain. You may be wondering whether your case is still valid, what happens to your file, and how you can move things forward."
There has been a lot of discussion about this lately because the Solicitors Regulation Authority (SRA) is failing to regulate until it's way too late [1, 2]. As a result, many people lose a lot of money.
Next Tuesday in London the SRA will be grilled over its failure to regulate. Many law firms went extinct in the past 6-7 years (since COVID-19 started) and many shut down without prior notice, due to a lack of business, hence a lack of sustainable income to pay bills and salaries.
The failure of the SRA will mean that lots of law firms will go under with other people's money and 'orphaned' cases.
Desperation leads to errors and errors lead to desperation. Those who enjoy the world instead of attacking the world will eventually end up on top. American-style regulatory capture is dooming access to justice in the UK. It became nothing but an "industry". █