JD Classics, what have they been up to?
Discussion
neutral 3 said:
He must surely have earnt £££ Lots from that biz each year, so no way is he a pauper.
Indeed but there are two types of money in issue. Money that the English legal system can get hold of and money that it can’t. Even with UK assets such as the old buildings for example, does Hood own them directly or indirectly? If indirectly then how indirectly? UK Ltd? Offshore Ltd? Trust? Does he even feature as a beneficial owner etc?
The fact that he has gone to live in an offshore jurisdiction does somewhat suggest to me that he was fully versed in asset and wealth protection and is unlikely to be seriously impoverished and maybe not even socially impoverished. So long as people still think he has money then people will still want to be his friend and absolve himnof all crimes.
Money held through offshore entities is not beyond the reach of English law. I spend a fair chunk of my professional time dealing with asset tracing through offshore structures. NB, a party needs to be well resourced and committed in order to pursue money through such structures, but it can be done.
Breadvan72 said:
Money held through offshore entities is not beyond the reach of English law. I spend a fair chunk of my professional time dealing with asset tracing through offshore structures. NB, a party needs to be well resourced and committed in order to pursue money through such structures, but it can be done.
What about the Swiss banks? 
Breadvan72 said:
Swiss banks are indeed a tough nut to crack, and ultimately most if not all dodgy money ends up there. Again, the pursuer of the money needs resources, nerve, and patience.
Or stupidity.My late-ex-business partner was once arrested at Heathrow, having flown in from Switzerland with £300k in cash in a gladstone bag.
Breadvan72 said:
Money held through offshore entities is not beyond the reach of English law. I spend a fair chunk of my professional time dealing with asset tracing through offshore structures. NB, a party needs to be well resourced and committed in order to pursue money through such structures, but it can be done.
Indeed but it doesn’t take much layering at all until the risk is dialled down to next to nothing. Finding the money is the easy bit and you almost certainly appreciate that you can find the money for a client but it’s another thing then getting it for them. Personally, I suspect any number that Tuke ends up being awarded will bare very little resemblance to what he ends up getting unless he is awarded nothing.
Breadvan72 said:
DonkeyApple said:
...you almost certainly appreciate that you can find the money for a client but it’s another thing then getting it for them.
...
It can be done. It takes time and costs money, and often involves effort in several jurisdictions. ...
That's how they roll - you have to keep balancing the costs against the potential gain. It can sound to those not involved like a gravy train, and maybe sometimes it is, but whenever I've been acting for insolvency practitioners who are appointed as administrators, receivers, or liquidators and are chasing assets, they drive a hard bargain on the legal fees, and the work on the cases is often difficult and takes a lot of time.
DonkeyApple said:
Indeed but there are two types of money in issue. Money that the English legal system can get hold of and money that it can’t.
Even with UK assets such as the old buildings for example, does Hood own them directly or indirectly? If indirectly then how indirectly? UK Ltd? Offshore Ltd? Trust? Does he even feature as a beneficial owner etc?
The fact that he has gone to live in an offshore jurisdiction does somewhat suggest to me that he was fully versed in asset and wealth protection and is unlikely to be seriously impoverished and maybe not even socially impoverished. So long as people still think he has money then people will still want to be his friend and absolve himnof all crimes.
When did he leave the country ? Even with UK assets such as the old buildings for example, does Hood own them directly or indirectly? If indirectly then how indirectly? UK Ltd? Offshore Ltd? Trust? Does he even feature as a beneficial owner etc?
The fact that he has gone to live in an offshore jurisdiction does somewhat suggest to me that he was fully versed in asset and wealth protection and is unlikely to be seriously impoverished and maybe not even socially impoverished. So long as people still think he has money then people will still want to be his friend and absolve himnof all crimes.
Breadvan72 said:
neutral 3 said:
That's not an unusual rate for this type of work. That's how much this sort of thing costs.
I use to know an acquisitions and mergers lawyer quite well who worked on some of the big stuff, he told me what their bill out rate was and in was astonishing. I don’t even think the juniors were billing out at anything as low as £430ph. Hourly rates are, it ought to go without saying (but often doesn't) not the amounts received by the fee earners as wages. A worker in a professional services firm that bills by the hour is usually paid between a quarter and a third of the hourly rate at which their work is charged to clients.
Edited by anonymous-user on Sunday 26th April 08:30
Breadvan72 said:
Hourly rates are, it ought to go without saying (but often doesn't) not the amounts received by the fee earners as wages. A worker in a professional services firm that bills by the hour is usually paid between a quarter and a third of the hourly rate which their work is charged to clients.
My wife used to bill out at three times what she was actually paid. And, of course, not every single hour of every single say is chargeable.A man arrives in heaven and is met not only by St Peter but also God himself, a little surprised he asks why the big celebration. St Peter explains to him that he is the oldest person ever. The man says there must be some mistake as he is only 63. God looks bemused and asks you are Mr Van, yes, you are Mr Bread Van, yes, you are the famous Lawyer, yes. Well you billed 327 years in billable hours, that makes you the oldest person ever.
This is clearly a fictional character and any resemblance to a real person is purely coincidental. To prove it is fiction, as if any Lawyer ever gets to heaven.
This is clearly a fictional character and any resemblance to a real person is purely coincidental. To prove it is fiction, as if any Lawyer ever gets to heaven.
Doofus said:
My wife used to bill out at three times what she was actually paid. And, of course, not every single hour of every single say is chargeable.
Some years ago I was doing some telecoms work on a barristers office. He used to have a sheet on his desk with his day divided up into 6 minute (I think) intervals which would then be used to record and bill his time.
I wondered who paid for his daily dropping the kids at the pool, and the time he spent perusing his extensive porno mag collection that he had stashed under his desk.
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