|
|
 |
Some NZ Law Firms In Shock As Government Legal Tender Results Announced - LawFuel.co.nz |
 |
|
 |
|
|
Deals |
|
All Regions |
|
Source:
LawFuel.com
|
|
|
|
|
 |
|
 |
|
|
|
Posted on Thursday, December 15, 2011
Lawfuel.co.nz - Some New Zealand law firms will be reeling with the loss of Government business in the All-of-Government legal tender round announced by Economic Development minister Stephen Joyce.
ome law firms will be reeling with the loss of Government business in the All-of-Government legal tender round announced by Economic Development minister Stephen Joyce.
Almost 80 per cent of law firms who have been successful in the All of Government tender round are sole practitioners or small-to-medium firms, but many firms have lost work and will be "transitioned out" from their previous Government work, according to documents released by the Government today. The tender round, which has been the subject of much criticism and will result in severe financial issues for some firms who missed out on retaining Government legal work, was announced today.
See the full article Click Here
The Government expects to slash its legal spend through the tendering process undertaken over recent months.Eight seven of the 125 tenders received were unsuccessful.
The 'don't-come-Monday' letters many law firms received has incensed many of them. However earlier stringent criticism of the tendering process has altered somewhat since with MED advising firms that any firm on the panel for one, specific area of work may still be permitted to work in any area of law for Government. Just how the process will work in practice and how much the Government will save in reality remains to be seen.
See the full article Click Here
The Ministry of Economic Development, who conducted the tender, said that 85 per cent of the firms tendering for Government work and who missed out had less than one quarter of their business with Government.Although the tender process will severely hurt many firms, with 14 who are over the 25 per cent 'threshold' who will be "significantly impacted" according to the MED.The Government intends working with those firms to "transition them" out of Government work.
|
|
|
|
|
|
|
