Insurance and risk management services for the better practice of law

Practitioners know that, subject to limited exceptions and strict criteria, duty (stamp duty) is charged on the transfer of real property.

Practitioners advising on or transferring shares in a private company or units in a unit trust should be alert to potential duty consequences.

This article provides an overview of landholder duty, when it applies, and explores the potential duty consequences to watch out for through a dive into the Oliver Hume case.

Research consistently shows that clients rarely retain all of the verbal information provided during a professional consultation, and if the client only takes in some of the advice, there is a risk of things going wrong for both the client and the practitioner.

Lawyers should get into the habit of confirming legal advice in writing following every client contact.

Our article highlights 5 circumstances in particular where follow-up advice letters are essential.

While lawyers are aware of the obvious financial costs of a claim, many fail to appreciate the hidden costs associated with them.

Our LIJ article for May discusses some of the hidden costs of sidelining risk management including the devotion of time to defending a claim, reputational damage and personal stress.

Practitioners acting in litigation matters should keep in mind that adjournments are not automatic and will only be granted for good reason.

There is a risk that if an adjournment application is unsuccessful, practitioners may face claims from their clients (if the matter is not ready to proceed to trial and it prejudices the outcome) or for the other parties’ costs of the application.

Our article covers when adjournments can be made, as well as some recent Supreme Court decisions where late adjournments of trial dates have been sought and refused by the Court.

LPLC continues to see an increase in the sophistication of tactics cybercriminals use to infiltrate computer systems and steal money from lawyers and their clients.

As these threats evolve, it is important that law firms continually reassess their cybersecurity measures and adopt a proactive, multi-layered defence strategy.

Our article provides tips for protecting yourself, take-home messages and some Dos and Don'ts of defending against cyber scams.

When buying property, nominating a new or different purchaser can be risky.

Under s32J of the Duties Act 2000, nomination after the lodgment of an application for a planning or building permit or other land development activity results in a sub-sale and a liability to pay a second amount of duty.

LPLC continues to see new ‘double duty’ claims indicating that there are still misconceptions amongst some practitioners and purchasers about what land development means and about the timing for completing nomination forms.

Our article explores these issues and the critical points in transactions where practitioners can advise purchaser clients of nomination risk and double duty.