Solomonic

With the release of the final report on the Grenfell Tower fire, which claimed 72 lives in June 2017, we have taken a look at claims relating to cladding and fire safety concerns that have arisen since the tragedy. Solomonic data reveals over 100 cladding and fire safety claims have been issued in the High Court since 2017. The first defective cladding claim surfaced in 2019 (HT-2019-000111: Naylor and others v Roamquest Limited and others), which later settled. HT-2019-000452 (Martlet Homes Limited v Mulalley & Co. Limited) followed in late 2019, which partly succeeded in July 2022. This was the first case on cladding and fire safety to reach trial since the fire and the court deliberated on whether claimants could recover for full replacement or a limited repair, with approximately £8 million in damages awarded out of the £18 million sought. 2023 saw the largest spike in claims following the trial decision, and 2024 has already seen 17 new claims this year. Currently, there are 72 ongoing cladding and fire safety related claims, 56 have a specified value which totals at least £380 million. HT-2022-000409 (Willmott Dixon Construction Limited v Prater Limited and others) is seeking at least £46 million, the highest value among them. Read the full insights article here: https://lnkd.in/ekViEjcD #grenfell #construction #buildingsafetyact

Summer may almost be over, but our office remains bright thanks to the many new faces that have joined us over the past few months. We're thrilled to welcome these talented individuals to our growing team as they help us lead the way in litigation intelligence. Please join us in extending a warm welcome to all! Andy Evans and Silvana Cardoso - LLB (Hons) have joined our BD force and have already been getting stuck in engaging new prospects, educating them about the value of our platform and getting more organisations hooked on our insights. Dan Peeters joins our operations team and Jovan Surya, our new customer success exec, has been quick to support many of our 7,000 users already, ensuring that they get the most from the platform. With data analyst Hongyi Han now onboard, we are excited about the new layers of insight and prediction that he will be developing over the coming months. Our tech team has been bolstered with four new talents to advance every area of the platform - senior developers Karl Taylor and Chinyelu Lyon, returning alumni and new graduate Dominic Reay, and Ainan Cawley, who joins us on placement for the year. We're thrilled to have them all on board - welcome to the team!

Interesting chart from Solomonic revealing the busiest law firms in the Commercial Court and 7 King's Bench Walk as the most instructed set (by claim volume).

Feeling the summer slowdown? While courtrooms might take a break, new claims keep rolling in. Historically, August sees fewer filings (586 on average over the past five years) compared to July (660) and September (676). However, this is still a significant volume, and practitioners need to remain vigilant. It’s not only the volume of claims issued - the value of claims issued in August have not been trivial. The total value of all new claims in August 2023 exceeds £2.9 billion, including major aviation leasing disputes and class actions. In 2022, the Brazilian dam collapse claim, valued at £36 billion, was issued in the final week of August. To avoid any holiday surprises, our alerts deliver a unique perspective on what’s going on in the High Court in terms of claims and forms issued. Sign up to trial them now and receive updates every Monday morning: https://lnkd.in/ejx5EEw5 #SolomonicInsights #commerciallitigation #legaltrends

Solomonic CEO Edward Bird was invited to join a panel discussion at a Birmingham Business & Property Courts Forum event on Wednesday, discussing ‘The Use of AI in Commercial Dispute Resolution’. AI is transforming industries around the globe and its potential in commercial dispute resolution is occupying the thoughts of our judiciary. The forum explored how the new tech is currently being used and its potential future implications, with perspectives from Justice (soon to be Lord) Zacaroli. Chaired by Andrew Herring, panellists Natalie Butcher (BDO), Tracey McDermott (Pinsent Masons), David Blayney KC (Associo), and Stephen Dowling (TrialView) all shared enlightening insights on these developments but it was the Master of the Rolls, Sir Geoffrey Vos, who really brought the profound challenges and opportunities that AI presents to life for the audience. #DisputeResolution #aiinlaw #legalai

We had a wonderful evening at our Solomonic summer party, celebrating our colleagues past, present, and future. Over the years, we've built a strong, inclusive culture that we are immensely proud of. This has been the bedrock of our incredible growth and success, currently serving litigation intelligence to nearly 100 clients and over 6,500 legal practitioners. Here's to many more years of success and collaboration! 🚀

The aircraft leasing industry has faced major challenges following Russia's invasion of Ukraine and the subsequent aircraft seizures resulting from international sanctions. Claims related to aircraft leasing have surged from 29% of all aviation sector claims in 2021, before the conflict escalated, to an average of 46% over the past three years (2022-2024 to date). Over half of all 2023’s aviation claims were tied to the Russo-Ukrainian war that left aircraft and parts stranded in Russia. Significant spikes in claims were recorded in February 2023, August 2023 and February this year, with ongoing claims still entering the courts in June. The greatest exposure falls on aviation insurance, particularly special war cover for aircraft leasing companies. Insurers such as Allianz, Convex Insurance, HDI Global and Starr Insurance are bearing the brunt of these claims and are amongst those defending the most claims. #SolomonicInsights #aviation #insurance

Solomonic is delighted to announce its newest partnership with top-ranked global public relations firm Maltin PR. The integration of Solomonic’s powerful and timely data goes hand in hand with the team's leading and reactive advice. Tim Maltin, Managing Partner at Maltin PR, commented, “The value of this partnership was evident from the outset, especially with litigations becoming larger, more aggressive and more costly. The Solomonic platform reveals a wealth of intelligence through its leading market tracking, serving as a live risk monitoring tool to highlight corporations and firms under threat. This will enable us to provide fully-informed advice to our clients at crucial pinch points throughout the litigation process.” Read the full press release here: https://lnkd.in/g2mnMvXw #litigation #lawfirmmarketing #legaldata

UK insolvencies serve as a key economic indicator and pose challenges for the new Labour government. Our data analysis highlights that insolvency activity has been on the rise since 2021, primarily driven by an increase in winding up petitions from 14.6% in October 2021 to nearly 50% by April/May 2022. During the same period, company restorations have declined, another indicator of tough economic conditions. The construction & infrastructure sector has been the hardest hit, accounting for 27.2% of all winding up petitions so far this year. The consumer products sector has also struggled, with winding up petitions rising from 12.7% in 2021-2023 to 16.1% in H1 2024. Between the pandemic, rising energy bills and the cost-of-living crisis, some major brands have vanished from UK high streets; this year alone witnessed the fall of Ted Baker, The Body Shop and Wilko.  Read the full analysis here: https://lnkd.in/ev63KTdS #SolomonicInsights #insolvency #windingup #ukeconomy

As the UK goes to the polls today, and the economy very much on the agenda, insolvencies are a concerning barometer. Our data analysis surfaces ongoing heightened activity levels in the Insolvency and Companies List, with the construction sector and consumer products worst hit by winding up petitions. The overall picture is not an encouraging one for any government. Read the full analysis here: https://lnkd.in/ev63KTdS #insolvency #generalelection #ukeconomy