CFS panel cull deferred pending talks

first_imgThe Law Society has secured a two-week stay of execution for sole practitioners in a ‘first round’ of negotiations over the decision to axe 3,600 practitioners from the conveyancing panel of the newly merged Britannia and Co-operative Financial Services (CFS). Sole practitioners will remain on the new CFS panel until 4 October following discussions between Chancery Lane and CFS. They were given one month’s notice of their removal from the panel in August. The CFS said it had been forced into the move following the merger because otherwise its insurers would have withdrawn cover for the entire business. Law Society chief executive Des Hudson said that following ‘useful talks’ with CFS a further meeting had been agreed ‘to explore the drivers of the Britannia/Co-op decision’. He said the Society was eager for the discussions to continue at a ‘rapid pace’. CFS director of risk Mike Fairbairn said the meeting had been ‘constructive’, but said it had a ‘clear duty’ to obtain the best cover at the best price. Meanwhile, Chelsea Building Society has said it is prepared to take direct action against individual solicitors and firms, and to target the Solicitors Compensation Fund to recoup money it may have lost due to solicitors’ alleged participation in a swathe of mortgage frauds. Chelsea recently said that it suffered £41m worth of mortgage fraud perpetrated between 2006 and 2008, concerning ‘the artificial inflation of property values by third-party professionals’ involved in buy-to-let mortgage transactions. A Chelsea spokesman said its solicitor panel contains a ‘fair spread’ of sole practitioners and other multi-partner firms, as it did at the time of the frauds, and it is not planning any ‘knee jerk’ panel cuts. In a further development, a letter from Bristol & West Mortgages seen by the Gazette has confirmed that it no longer appoints sole practitioners. The bank said the decision was the result of an increase in the number of mortgage fraud cases encountered by them where sole practitioners had allegedly been directly or indirectly involved. The letter mentions the ‘significantly inferior cover offered by the relevant governing bodies for sole ­practitioners’ as a reason for the decision. Bristol & West said the data to support the comments, was ‘private’. Neither Chelsea nor Bristol & West disclosed which solicitors or firms they believe may have participated in the frauds and whether or not they believe panel firms were involved. In a separate statement issued on Wednesday, CFS’s Fairbairn,said: ‘CFS wants to make it absolutely clear that our decision was a direct consequence of our insurers refusing to offer cover on our entire £20 billion mortgage business, unless we removed sole practitioners from our panel. We have a clear duty to our members and customers to ensure best cover at the best price; we can’t simply choose cover at any cost. We also reject strongly any claims that our actions are in anyway discriminatory on sole practitioners, for this same reason. ‘We have committed to maintaining dialogue with the respective law societies [of England and Wales, Scotland and Northern Ireland] but we need to achieve a position where we have appropriate indemnity protection across our entire mortgage book, without any adverse commercial impact or material change to the terms and conditions offered.’last_img read more

LaLiga Delights Over 1000 Fans With First ElClásico Viewing Party In Lagos

first_imgSpanish football league, LaLiga hosted the first ElClásico public viewing party in Nigeria to share the excitement of the global event with fans in the region.The event which is part of LaLiga’s internationalization strategy took place on Sunday, 1 March at the Landmark Beach, Lagos.The event was attended by over 1000 guests including fans of FC Barcelona and Real Madrid CF; LaLiga’s global and regional partners including Livescore, Budweiser, Big Cola, Rexona, SuperSport alongside LaLiga Ambassadors, Samuel Eto’o and Mutiu Adepoju. Also present were Nigerian influencers and celebrities including Peter Okoye, VJ Adams, Ebuka Obi-Uchendu who were all treated to an exquisite evening of unparalleled entertainment.Fans who registered online via Eventbrite to attend the free event, were treated to food, drinks and football related entertainment at the venue prior to the start of the match. This included Football snooker, Foosball, a ball header challenge and official jersey displays of the Spanish competition where fans took photos with their best team’s jersey.Fans were given the opportunity to meet the former Barcelona and Real Madrid player, Samuel Eto’o and LaLiga Ambassador Mutiu Adepoju.Speaking at the event, LaLiga Ambassador and former Real Madrid and Barcelona player, Samuel Eto’o said, “The ElClásico is a game filled with thrills and sheer excitement and I am glad to have shared the experience with my Nigerian fans and my fellow LaLiga ambassador Mutiu Adepoju. The energy and passion of the fans was unbelievable. I look forward to more of these LaLiga moments in the future”  Football fans, partners and Media personnel from the top media publications and online blogs in Nigeria were present at the event and were treated to a pulsating experience with the Magic of LaLiga, with Charles Anazodo and Moronfolu Kufeji acting as commentators during the match.Commenting at the event, Guillermo Pérez Castello, LaLiga Delegate in Nigeria said, “We had so much fun connecting with LaLiga fans, guests and media partners at this viewing party and we are excited to provide opportunities for football lovers to bond in a unique and exciting way. LaLiga is committed to bringing fans in Nigeria the unique LaLiga experience and will continue to strengthen its presence in Nigeria”.Speaking after the event, Chief Customer Officer, MultiChoice Nigeria, Martin Mabutho said, “We are pleased to have been a part of this exciting project as Nigeria is a land of football enthusiasts and LaLiga is one of the biggest leagues in the world. With this event, our customers not only had the opportunity to watch the action LIVE and in HD on our SuperSport channels, but also got to enjoy the match with fellow football lovers in a unique way”.The league is reaching out to all corners of the world as a global entertainment brand setting the standard of football across the world.The ElClásico viewing event in Nigeria is part of a global strategy by LaLiga around the ElClásico as Real Madrid and Barcelona supporters in Mexico and Colombia also viewed the game in the presence of legends and LaLiga Ambassadors at specially organized viewing parties in each country.RelatedEl Clasico Buildup For FansOctober 23, 2018In “Europe”LaLiga Signs Regional Partnership with Big Cola NigeriaApril 26, 2018In “Europe”Atletico Madrid Round Off The Season With A Friendly In Nigeria Thanks To LaLigaMay 10, 2018In “Europe”last_img read more