As Premextra reported back in December , the AG's department had announced plans to review the discount rate, which would have significant repercussions on personal injury settlements if it were to be adjusted up or down.
Claimants want it reduced from the current 2.5%, while defendants would prefer it stays the same, otherwise some frightening recalculation of liability reserving might be in order.
The Law Society Gazette pointed out that the MOJ was 'aware' of the JR, but little else has so far been reported on the topic, despite its rather obvious implications.
Perhaps this is because elsewhere in the legal sector, the advent of alternative business structures following deregulation has been generating so much debate. Legal Futures reported that the topic was now right at the top of the agenda. The Lawyer says claimant firms will be rethinking their business models while the Gazette published research from 360 Legal Group which classed ABS as representing 'a challenge' to their business models.