PI specialist is thirtieth alternative business structure

first_imgThe former president of the Association of Personal Injury Lawyers has steered his firm to alternative business structure status. David Bott, who stood down as president in April, will bring practice manager Paul Hinchcliffe and finance manager Gary Froggatt, both non-solicitors, into equity partner status at Bott & Co (Hinchcliffe, Bott and Froggatt are pictured left to right). The north-west personal injury specialist is now the 30th ABS approved by the Solicitors Regulation Authority. In a statement, Bott said the change in status ‘increases our readiness’ to take on the changes that will arise from the Jackson reforms next April. Hinchcliffe added: ‘We will use this ABS licence as a springboard to developing the business and show the world how modern and forward-thinking we are.’ Bott was a vocal critic of the Legal Aid, Sentencing and Punishment of Offenders Act, most of which comes into force next year, last year describing the cuts to legal aid and restrictions to no win, no fee as a ‘savage blow’ to patients who had suffered an injury. Bott & Co was founded in 2011 by Bott, Hinchcliffe and Froggatt. In 2011/12 it posted a turnover of £12.9m, of which £471,386 was profit. It has 10 solicitors among 30 fee-earners at offices in Cheshire and London.last_img read more

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United Wagon Co and Tatravagónka open bogie casting plant

first_imgSLOVAKIA: Prime Minister Robert Fico and Russian Railways President Vladimir Yakunin attended the official launch of the Railway Casted Components joint venture on November 7.RCC has been established by Tatravagónka and Russia’s United Wagon Co to produce Barber bogie castings for 1520 mm gauge wagons. The partners have invested €20m in the plant at Prakovce, which has an annual production capacity of 3 600 bogies per year, and the government has provided €10m of support. The number of employees is expected to grow from 350 at present to 450. RCC has been certified as a supplier to the Russian market and expects to begin shipments in early 2014 under a six-year contract with UWC. ‘We believe that the Barber bogie will become the industry standard in the near future’, said UWC Chief Executive Roman Savushkin, adding that there was already market demand and other wagon manufacturers were interested in the technology. ‘Partnership with UWC is the next step in the development of large-scale co-operation with Russia’s industrial leaders in the field of production of new-generation freight cars’, said Alexey Belyaev, Chairman of Tatravagónka.last_img read more

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FBI Suspicious Activity Reports Up for Mortgage Fraud

first_img March 5, 2012 529 Views FBI: Suspicious Activity Reports Up for Mortgage Fraud in Government, Origination, Secondary Market, Servicing, Technology Mortgage fraud caseload rose last year as federal insurers reported more suspicious activity, according to the “”Federal Bureau of Investigation””:http://www.fbi.gov/ (FBI).[IMAGE]_Source_: “”FBI Financial Crimes Report””:http://www.fbi.gov/stats-services/publications/financial-crimes-report-2010-2011/financial-crimes-report-2010-2011#Mortgage[COLUMN_BREAK]The agency reported recently that so-called suspicious activity reports (SARs) ascended from 70,533 in 2010 to 93,508 last year, a shift that reportedly helped FBI investigators land 1,223 indictments and 1,082 convictions for mortgage fraud last year.The FBI touted big payouts for victims in a report that found $1.38 billion in restitutions, $116.3 million in fines, and seizures worth roughly $15.7 million from last year.Pending cases for mortgage fraud meanwhile fell from a new high of 3,129 two years ago to 2,691 in 2011, while damages in fraud-related SARs stepped down from $3,238 in 2010 to $3,029 last year.Personnel rose with demand, as the FBI said that it more than doubled agents on payroll to 325 last year, up from 120 in 2007.The agency said that pending mortgage fraud cases fell as originations overall reached their lowest level since the early 2000s.It reported that distressed homeowner fraud had taken over from mortgage origination fraud as the primary source of problems for the agency.center_img Agents & Brokers Attorneys & Title Companies Lenders & Servicers Mortgage Fraud Processing Service Providers 2012-03-05 Ryan Schuette Sharelast_img read more

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