A good brief article on Legal Week.
As we move into these interesting economic times, the former Lord Chancellor, Lord Falconer, has predicted an explosion of ‘mega-litigation’ in the aftermath of the collapse of Lehman Brothers. Delivering the keynote speech at the Legal Week Litigation Forum in London, Falconer said the demise of the US’s fourth-largest investment bank would be a turning point for credit crunch-related litigation, unlocking a flood of cases.
“There is going to be litigation on a scale that we have not seen before,” he told the conference, predicting the emergence of “a new era” for litigation and dispute resolution.
Now with respect to this new era of dispute resolution, lawyers and their clients will be forced to consider mediation beacuse quite simply they cannot afford other options. And let us remember mediation works in such a high % of cases, cuts out legal costs and offers more commercial solutions. It is something some lawyers will resist due to impact on fees but ultimately they will not have any choice. Please see details of training we offer on this.