Independence of the Judiciary Under Debate
A crucial debate with fundamental implications for the independence of the Judiciary in the United Kingdom is under way in the British Parliament today (4 June 2007.) That is, the second reading of the controversial Legal Services Bill. In an unprecedented move, the senior partners of all five 'Magic Circle' firms in London, namely Slaughter and May, Linklaters, Freshfields Bruckhaus Deringer, Allen & Overy (A&O) and Clifford Chance (CC), as well as Bar Council chairman Geoffrey Vos QC, have written a joint letter to the Economic Secretary to the Treasury, arguing that the Legal Services Bill could deter foreign companies and lawyers from investing in the UK and leave a £2bn (+/- $4bn) hole in annual legal services exports.
Watch this space. This has long term implications for jurisdictions far more widely spread than just England and Wales. See also the article in this week's Legalweek.com titled Magic circle wades into LSB independence debate.