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Fever-Tree IPO: Charles Rolls and Tim Warrillow are cracking open the bubbly for a market debut

first_img whatsapp Show Comments ▼ Share Tuesday 4 November 2014 8:37 pm When boom turns to bust, it can be best to keep your head down, get back to work and wait for a better time to dive into choppy waters.Plenty of other firms have had second thoughts about their flotations in recent week, as the frenzy of earlier months gave way to a market slump. Businesses trying to go public pulled the plug if they had openly stated their plans, or quietly shelved initial public offerings (IPOs) which had yet to make it into the public domain.But not Charles Rolls and Tim Warrillow, the pair who founded upmarket tonic water firm Fever-Tree.“Half way through the process, we heard it was a bad idea to float a business of our size,” said Rolls.“We did put in a couple of calls to Investec, but they were very confident all the way along. They said we would get a lot of blue chip investors, come what may in the markets.”But that does not mean it was an easy few weeks to round up the investors needed to pay a total of £93m for the 60 per cent free float in the business.“We spoke personally to the investors – we must have done the same presentation 68 times over a couple of weeks,” said a somewhat tired-sounding Warrillow.The pair certainly had a big personal incentive to get a good price for the stock.Although other investors had previously come in – Lloyds Banking Group’s private equity arm LDC bought a stake in 2012 – the two founders sold a stake amounting to around 16 per cent of the firm’s shares.That netted them roughly £25m, which is not bad for a nine-year old business.Does that mean they are planning to step back from the firm? They promise not to.“We like our firm. We’ve still got a large share in the firm,” said Rolls.“The vast majority of our wealth is still in the business, and if it grows in the way that we think it will… well, that is very motivating.”The deal raised £4m in new funds, with the majority of shares sold coming from management and existing investors.The extra funds should clear the firm’s debts and, the founders say, prepare the way for more growth.So far Fever-Tree sells into 50 countries, with a UK workforce of just 25 – the manufacturing and other elements are outsourced.The pair hope that it could eventually have “a good market share” in at least 10 of those.The Alternative Investment Market (AIM)-listed stock begins open trading tomorrow.“We are going to the London Stock Exchange, so that is when the celebrating starts for all the staff,” said Warrillow.“We will open a bottle of tonic over all the brokers, really spray them with it.” center_img whatsapp Tags: IPOs Tim Wallace Fever-Tree IPO: Charles Rolls and Tim Warrillow are cracking open the bubbly for a market debut last_img read more

News / Kerry and Radiant expand their logistics footprints with new year takeovers

first_img Hong Kong-based 3PL Kerry logistics has continued its European expansion drive, finalising the acquisition of German forwarder Multi Logistics.Established in 1985 and headquartered in Munich, Multi Logistics offers traditional air and sea freight forwarding, as well as road transport, warehousing and distribution and customs brokerage.However, it is in the film and broadcasting sectors where the company has built up a reputation for expertise in trade fair logistics.The company operates out of four locations in Germany – Munich, Berlin, Frankfurt and Hamburg – which will be added to Kerry’s portfolio of Frankfurt, Hamburg and Bremen. © Joseph Golby | – Film crew on location, night shoot. Cinamatographer with 4k camera By Gavin van Marle 10/01/2017center_img “We have had offices for integrated logistics and international freight forwarding in the country for many years, offering customers total supply chain solutions,” said Thomas Blank, managing director of Europe at Kerry Logistics.“The expansion is in line with our strategy to accelerate the business development of the European market, and we are pleased to be able to provide our clients with enhanced network coverage, additional service offerings across Europe, and further optimised local customer service in Germany,” he added.On the other side of the Atlantic, US forwarder Radiant Logistics is set to continue its expansion into the Canadian market after agreeing to buy local company Lomas Logistics, a subsidiary of chemical and food ingredient distribution firm LV Lomas.Lomas Logistics operates as a 3PL, serving companies across a diverse range of industries including consumer goods, healthcare, food and technology from its bases in Ontario and British Columbia. It earned around C$1.9m (US$1.43m) earnings before interest, tax depreciation and amortisation (EBITDA) from revenues of C$17.7m in 2015.Radiant founder and chief executive Bohn Crain said: “In addition to leveraging our core competency and purchasing power across several key market verticals, Lomas Logistics also brings a unique healthcare service offering with licences from Health Canada to distribute medical devices, pharmaceutical and natural health products which is expected to accelerate the development of a robust healthcare service offering for Wheels and Radiant.”The purchase is being organised through Wheels Group, the Canadian forwarder Radiant acquired in mid-2015. Radiant still has to complete its due diligence on the deal, but expects the transaction to close by the end of March.last_img read more

Ontario credit union to offer all GICs as SRI

first_img Share this article and your comments with peers on social media Fidelity Investments unveils new climate-focused fund suite Related news IE Staff Kitchener, Ont.-based Mennonite Savings and Credit Union (MSCU) on Thursday announced it is the first Canadian financial institution to show that all of its GICs qualify as socially responsible investments (SRI). “Until now, the SRI approach to investing, which includes sustainable screens, has only been associated with mutual funds and market investments,” the MSCU announcement says. ESG interest on the rise, but so is fear of greenwashing FGP launches ex-energy equities fund Facebook LinkedIn Twitter Keywords Responsible investing MSCU turned to Amsterdam-based Sustainalytics, a global provider of environmental, social and governance (ESG) and corporate governance research and ratings, to help it develop a set of socially responsible lending criteria to incorporate into its agricultural and commercial lending practices. These criteria include screening business borrowers for any involvement in industries such as alcohol, tobacco, and gambling and for any significant negative impacts on the environment, human rights, or communities. Once the screens had been in place for six months, Sustainalytics carried out a review of MSCU’s loan portfolio to validate compliance with the socially responsible criteria. “Because these loans are funded by members’ GIC deposits, the screens in place ensure the GICs are SRI compliant,” the MSCU announcement says. “Investments in the MSCU SRI GICs provide our members with the confidence that their funds support loans which clearly align with a sustainable, responsible view of their communities and the world,” says Brent Zorgdrager, CEO of MSCU, in a statement. According to the Responsible Investment Association (RIA), the RI market comprises more than 30% of Canadian assets under management. “Many financial institutions, including MSCU, have offered Responsible Investment options but MSCU is leading the way by integrating environmental and social factors into all of their GICs,” says Deb Abbey, RIA’s CEO. MSCU is a financial co-operative providing banking services to over 20,000 members in southern Ontario. It has more than $950 million in assets under administration. Eligible deposits in MSCU GICs are insured by the Deposit Insurance Corp. of Ontario up to a maximum of $100,000.last_img read more

NSWMA Starts Earning its Way

first_imgFacebookTwitterWhatsAppEmail The National Solid Waste Management Authority (NSWMA) earned over $120 million last year and is making good on the promise made by Executive Director, Joan Gordon Webley, to ultimately end its dependence on subventions from the national budget.This was explained by Mrs. Gordon Webley to a JIS Think Tank on Wednesday, November fourth.“I can say to you that last year our commercial division earned well over $120 million, and this year we will earn more. And that is just the tip of the iceberg,” Mrs. Gordon Webley predicted.“As we speak, the Parks and Gardens Division is no longer under the subvention of Government,” she said.According to Mrs. Gordon Webley, the NSWMA earns money from the work it does for agencies like the Tourism Product Development Company (TPDCo), as well as for private citizens who use the services of the Parks and Gardens Division.She said contractors will no longer be used to supervise the work of the NSWMA, which will create additional savings and free up more funds to hire additional employees.“We felt that there were too many layers of supervision. We had managers on board and monitors who managed the contractors. We don’t want that to happen any longer,” she said.She stated that among the contributors to the NSWMA’s costs were the provision of trucks to 99 per cent of the contractors, who only paid $25 on every litre of fuel used by their vehicles although they were paid per trip.The Authority was also responsible for fixing the vehicles when they broke down, in addition to finding replacements for the areas which they serve, while they were out of commission. This state of affairs, she said, had been in place for many years, but could not be allowed to continue.“Having taken the decision to abandon the use of contractors, we will now be able to operate within our budget,” she said.Mrs. Webley contends that the NSWMA could now be called the ‘National Solid Waste Resource’, since nothing in its landfills is considered as waste.“One new activity that we have started on our landfills is composting. The first six truck loads went directly to the National Heroes Park, where we have started a nursery which houses approximately 30,000 plants,” she related.“There is a brand new outlook, as far as we are concerned. We are determined that we are going to turn around NSWMA. In fact, we have already started on that journey. We have said that no longer are we going to be an organisation of people who just deal with rubbish, and we have started a number of competitions. Then there is the way we carry ourselves, the cleanliness of our workers and our vehicles, the name change from garbage men to sanitation workers,” Mrs. Gordon Webley explained.The National Solid Waste Management Authority (NSWMA) was established under the National Solid Waste Management Act 2001 as a statutory body, to manage the collection, treatment and disposal of solid waste, islandwide.The Authority’s duties include: establishing the standards and criteria for operators in the solid waste sector; licensing solid waste companies, collection vehicles and disposal site operators; contracting solid waste collectors for municipal garbage collection; establishing collection zones, in collaboration with the Parish Councils, the Kingston and St. Andrew Corporation (KSAC) and the Town Planning Authority; establishing tipping fees structures and rates for industrial and large commercial entities disposing of waste at the approved disposal sites; and operating solid waste disposal sites in the medium term, while preparing them for divestment to the private sector. RelatedNSWMA Starts Earning its Way Advertisements RelatedNSWMA Starts Earning its Waycenter_img NSWMA Starts Earning its Way Office of the Prime MinisterNovember 5, 2009 RelatedNSWMA Starts Earning its Waylast_img read more

A US$21-billion wager says this Canadian company will build the Apple car

first_imgApple targets autonomous car for consumers by 2024: reportMagna is one of the world’s biggest car-parts suppliers, having generated nearly US$40 billion of revenue in 2019 from products such as transmissions, vehicle cameras, mirrors and seating. The contract manufacturing subsidiary, Magna Steyr, is the really interesting piece. It builds niche premium vehicles at a factory in Graz, Austria, including the Mercedes G-Class 4×4, the electric Jaguar I-Pace and the BMW Z4 sportscar.Typically those companies choose to outsource the work, rather than retool or build a new production line, because the sales volumes are relatively small. In 2019 Magna assembled almost 160,000 vehicles – more than many carmakers produce — and generated US$6.7 billion of revenue from these activities. Together with joint venture partner Beijing Automotive Group Co. (BAIC) it recently added another facility in China, which is capable of producing 180,000 vehicles yearly. A North American plant might be next.Magna’s client roster already extends well beyond the traditional automakers. Henrik Fisker’s eponymous car venture, for one, went public in October after merging with a special purpose acquisition company. A manufacturing and vehicle engineering partnership with Magna is key to Fisker’s asset-light approach. The latter often compares this to the Apple-Foxconn relationship and hopes that will avoid the production nightmares that bedeviled Tesla.The Austrian Magna subsidiary is reportedly in talks about producing vehicles for Canoo, another SPAC-backed car start-up, while in China it’s started producing the Arcfox for BAIC’s electric vehicle offshoot. Other projects include helping Alphabet Inc.’s Waymo subsidiary integrate self-driving technology into vehicles and working with Sony to produce the futuristic Vision S prototype car.“It’s not a secret that almost every non-OEM interested in realizing its own complete vehicles is contacting us,” Frank Klein, Magna Steyr’s boss, told investors last year.There are risks in Magna adding manufacturing capacity for start-ups who may fail or decide to insource the work themselves. If Apple were to become a Magna customer, it would drive the same hard bargain as it does with Foxconn, whose operating margins have shrunk to about 2 per cent. Apple’s is 24 per cent. We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Trending Videos ‹ Previous Next › There’s at least one big contract manufacturer ready to take advantage of these seismic industry changes: Canada’s Magna International Inc. “If Apple is serious about building a car … Magna Steyr should build it,” says Evercore ISI analyst Chris McNally.Even if Apple doesn’t come knocking, the manufacturer is already advising tech groups and start-ups looking to enter the automotive business, and investors have taken notice. Magna’s shares have almost trebled since March, giving it a US$21-billion market value.RELATED Still, Magna’s shares look less dauntingly overvalued than many companies with one foot in the electric-vehicle future. Even after its blistering recent run, the stock is priced at less than 12 times forward earnings. The Canadian manufacturer has its attractions even without a Tim Cook order. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 Production line at the Magna Steyr plant in Germany.  Magna First Look: 2022 Lexus NX The sport-cute’s looks have been softened, but its powertrains and infotainment offerings have been sharpened The Rolls-Royce Boat Tail may be the most expensive new car ever Canada’s Magna will build Fisker’s ambitious new electric SUV A red-hot trend in the car industry is for new entrants such as Fisker to hand over the complicated and capital-intensive work of engineering and building vehicles to a contract manufacturer.Increasingly, cars are judged on their software and electronics, so why bother wasting time and money on metal bashing?If Apple is indeed seriously considering launching its own vehicle, as press reports suggest, then it will almost certainly decide to outsource, as it does with the iPhone. Apple designs the phone and its operating system but employs Foxconn to assemble components into a handset. COMMENTSSHARE YOUR THOUGHTS advertisement See More Videos RELATED TAGSFlexNew VehiclesFlex Trending in Canada PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | last_img read more

Despite 2020’s Challenges, Demand for Vineyard Real Estate in the Central…

first_imgTwitter AdvertisementThe upward trend is a signal that the world-renown wines of the regionare continuing to attract top-tier investors.Jan. 5, 2021 (Paso Robles, Calif.) – With all the challenges of 2020, one sector in the Central Coast saw a   significant upswing – the demand for vineyard acres and wineries, says Jenny Heinzen, California’s leading broker for vineyard and winery properties.“While 2020 proved to be even more stressful than imagined, I saw encouraging signs in wine consumption and active grape buying during harvest,” says Heinzen, founder of Paso Robles-based Jenny Heinzen Real Estate. “As with past difficult vintages and economic environments, the wine industry sees growth through innovation and renewal – and this is especially evident with the current robust vineyard sales activity.”Marking its best year since being founded in 2004, Jenny Heinzen Real Estate saw record sales of acreage and winery properties in Monterey, San Luis Obispo and Santa Barbara counties this year, transacting 5,233 acres of sales in 2020.The Central Coast region, and Paso Robles American Viticulture Area (AVA) specifically, continues to be a leader and a hotbed of activity with major wine companies and institutional agriculture investors clamoring for a slice of the region for vineyard and winery operations. Heinzen worked with nine successful buyers and sellers, had average sold listings of $6.6 million and a single highest transaction of $17 million during the last year.In September alone, Heinzen brokered more than $31 million in Central Coast vineyard sales for three separate groups of institutional agriculture investors. The competition is so fierce, one of the Paso Robles deals, consisting of a winery and vineyard, closed in a record time of only two weeks.“For years, the success of Central Coast’s visionary growers and winemakers was seen in high scores and steady growth in wine tourism,” says Heinzen. “But even with that success, it was always thought of as an ‘emerging region.’ But this extremely high demand for vineyard and winery acreage shows the Central Coast is no longer an emerging region – it’s well established.”With the steadily rising demand for vineyard and winery properties amid the COVID-19 crisis, Heinzen forecasts that the Central Coast wine business market will prove even more robust.“Mother nature threw us yet another curve ball last season with record heat spikes and increased wildfires. These disruptions in the market create opportunity for savvy investors to purchase vineyards in need of redevelopment, preparing them for the next upswing and peak grape market,” said Heinzen as she is already lining up select new listings and additional offerings for the year ahead.Watch Heinzen’s blogs for upcoming information as she keeps current on issues facing buyers and sellers. Upcoming topics include: Prop 19 and vineyard property, celebrities & vineyard ownership, the status of regulation over the Paso Robles Groundwater Basin, Williamson Act and vineyards, and vineyard tycoons of the Central Coast.About Jenny Heinzen Real EstateFounded in 2004, Jenny Heinzen Real Estate is one of America’s leading vineyard real estate firms, offering real estate representation to institutional investors, wineries, growers and lifestyle owners on the Central Coast of California. A Central Coast native, Founder Jenny Heinzen grew up in a real estate investment family and earned a Masters in Agriculture from Cal Poly, San Luis Obispo. After working at a prestigious M & A firm, she earned her broker license in 2004 and partnered with a boutique Napa Valley firm specializing in vineyard, winery, and lifestyle properties. Named a “30 under 30” by the National Association of REALTORS®, Jenny is a former president of the Women’s Council of Realtors. jennyheinzen.comAdvertisement Previous articleAfternoon Brief, January 4thNext articleInternational Wine Center (IWC) Announces Their 25th Graduating Class Press Release Facebook Linkedin Share Pinterest Home Industry News Releases Despite 2020’s Challenges, Demand for Vineyard Real Estate in the Central Coast…Industry News ReleasesWine BusinessDespite 2020’s Challenges, Demand for Vineyard Real Estate in the Central Coast is FlourishingBy Press Release – January 5, 2021 457 0 ReddIt Email TAGSJenny Heinzen Real Estate last_img read more

Gov’t taking Steps to Protect Reggae Brand

first_imgRelatedGov’t taking Steps to Protect Reggae Brand Gov’t taking Steps to Protect Reggae Brand CommerceJuly 16, 2012 Advertisements RelatedGov’t taking Steps to Protect Reggae Brand By Athaliah Reynolds-Baker, JIS Reporter FacebookTwitterWhatsAppEmail The Government of Jamaica is taking steps to protect Reggae and all other aspects of the country’s national heritage through available intellectual property strategies and mechanisms, said Minister of Industry, Investment and Commerce, Hon. Anthony Hylton. He was speaking on Thursday (July 12) at the launch of the Jamaica Intellectual Property Office’s, ‘e-JIPO’ digitisation programme,held at the Jamaica Promotions Corporation’s (JAMPRO) headquarters in New Kingston. [Related Story: Gov’t Serious about Improving Business Climate – Hylton] Minister Hylton informed that the Trade Marks Registry has been receiving several applications for the registration of trademarks, which include the word “Reggae”.  As such, he said, it is critical that all is done to legally protect Brand Jamaica and all things associated. “Globally, the Jamaican brand is extremely strong, and, especially in this jubilee year, everybody wants to have products and services bearing the Jamaica brand,” he said. He noted further that with the London 2012 Olympics just a few weeks away, “the eyes of the world are on Jamaica. We are loved and even revered for our sun, sand, sea, food, music, culture, academic achievements and the prowess of our athletes,” he remarked. Mr. Hylton said that Jamaica has been at the forefront of the lobby effort to have international intellectual property law protect the rights of countries to own and control the use of their country name. “This is crucial to Jamaica being able to harness and build upon Brand Jamaica and all that is comprised therein,” he stated. He argued that as the global environment changes, “so too must we alter our modus operandi, in order to keep apace of the environment and carve out our place in the global value chain”. RelatedGov’t taking Steps to Protect Reggae Brandlast_img read more

Flexi-Work Arrangements Will Be Closely Monitored

first_imgAdvertisements Flexi-Work Arrangements Will Be Closely Monitored LabourAugust 25, 2014Written by: Athaliah Baker Story HighlightsChief Technical Officer in the Ministry of Labour and Social Security, Errol Miller, says that the Ministry will closely monitor complaints under the impending flexi-work arrangements and take appropriate action where there are breaches. He said that workers will be given an opportunity to negotiate their work hours and work days and as such, will be able to negotiate for their rest day to be on the same day as their day of worship. It is considered a key part of the country’s economic growth agenda and one of the main strategies for the reform of the Jamaican labour market. RelatedMore Assistance for the Disabled FacebookTwitterWhatsAppEmail center_img RelatedLabour Ministry’s ELE Upgraded to Provide Improved Service Chief Technical Officer in the Ministry of Labour and Social Security, Errol Miller, says that the Ministry will closely monitor complaints under the impending flexi-work arrangements and take appropriate action where there are breaches.He also warned that an employer, who seeks to alter existing terms of a contract without the worker’s consent could face court action for breach of contract or proceedings that would likely end up before the Industrial Disputes Tribunal.Mr. Miller, who was addressing a meeting of the North St. Andrew Kiwanis Club on Thursday (August 22) at the Police Officer’s Club in St. Andrew, reiterated that the arrangements will not contravene the right of any worker to worship on their day of choice.He said that workers will be given an opportunity to negotiate their work hours and work days and as such, will be able to negotiate for their rest day to be on the same day as their day of worship.He said freedom to negotiate between employer and employee is a key feature of flexi-work. “So, if it is not consensual, then there can be no flexi-time arrangements. There must be agreement between the employer and the employee in order for that flexi arrangement to be successful,” he stated.The Employment Flexible Work Arrangements Miscellaneous Provisions Bill was tabled in Parliament in March this year and is expected to be debated in September.It is considered a key part of the country’s economic growth agenda and one of the main strategies for the reform of the Jamaican labour market.“The flexi-work situation is expected to enhance the business environment in Jamaica in keeping with the goal of the Vision 2030 Development Plan, which is to make Jamaica the place of choice to live, work, raise families and do business,” Mr. Miller noted.The main elements of the flexi-work week are that there will not be a set eight or ten hour work day, but that the work day should be capped at a maximum of 12 hours.Mr. Miller explained that the work day should consist of 40 hours and those 40 hours can be spread among any number of days. All seven days of the week should be considered as normal working days.Additionally, overtime should be earned after the worker has completed 40 hours. Currently, the arrangement is that a worker can earn overtime after completing eight hours per day although he/she does not complete 40 hours for the week.“The Bill will, however,  will not affect overtime payments due for work performed on agreed rest days and public holidays in accordance with the minimum wage legislation,” he said.Rest days are negotiable between employer and employee and are the days on which there is agreement that no work will take place.To support flexi-work, the Ministry is seeking to have restrictive clauses in existing legislation modified. Among the laws to be impacted are the Holidays with Pay Act; Shops Regulations, which now prohibits shops from opening after certain hours and particularly on Sundays; and the Employment of Women Act, which stipulates that women should not be employed at nights.Other laws to be amended include the National Minimum Wage Act and Orders; Town and Communities Act; and the Apprenticeship Motor Mechanic Trade Order.Mr. Miller further advised that the Flexible Work Bill is not a new piece of legislation, but instead is an amendment to several pieces of legislation, which will impact the labour landscape. RelatedPath attracts OAS Delegationlast_img read more

Prime Minister Commends Agencies Containing Riverton Fire

first_imgRepresentatives of several of the agencies, including the Ministries of Education, and Health, as well as ODPEM and the JFB, are scheduled to brief the Cabinet on the operations, during its weekly meeting, at Jamaica House. RelatedJamaica Leading Caribbean Destination for Investment Prime Minister Commends Agencies Containing Riverton FireJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay Photo: Donald DelahayePrime Minister, the Most Hon. Portia Simpson Miller (2nd right), addressing a special stakeholder agencies meeting at Jamaica House on Sunday (March 15), during which she was updated on containment operations at the Riverton City Disposal Site in St. Andrew, which has been on fire since Wednesday, March 11. Also attending the meeting, from left, were: State Minister for Local Government and Community Development, Hon. Colin Fagan; Minister with Responsibility for Information, Senator the Hon. Sandrea Falconer; and Permanent Secretary, Office of the Prime Minister, Onika Miller. RelatedPM Optimistic of Increased Investment RelatedPM Invites Investments in Nutraceuticals, Business Process Outsourcing Prime Minister, the Most Hon. Portia Simpson Miller, has commended the efforts of stakeholder agencies involved in the fire containment operations at the Riverton City Disposal Site in St. Andrew.Speaking at a special meeting convened at Jamaica House, where she was updated on activities being undertaken, Mrs. Simpson Miller praised the “collaboration (among) the agencies”, which has resulted in significant containment of the blaze, which has been burning since Wednesday, March 11.The Prime Minister urged the agencies to continue working assiduously to extinguish the flames, while voicing concern over the adverse and worrying effect which the smoke emanating has been having on persons, particularly children, as also the dislocation of operations at schools and businesses.In response, Jamaica Fire Brigade (JFB) Commissioner, Errol Mowatt, advised that consequent on the acquisition of additional equipment, it is anticipated that further progress will be made on Monday (March 16) towards fully extinguishing the fire.Office of Disaster Preparedness and Emergency Management (ODPEM) Director General, Major Clive Davis, informed that “positive developments” have taken place with the containment operations, adding that all representatives are working overtime to ensure that normality is restored to activities across the Corporate Area and its environs.In response, Acting Chief Medical Officer, Ministry of Health, Dr. Marion Bullock-DuCasse, said there were fewer cases of persons with respiratory challenges visiting health facilities for treatment, and assured the Prime Minister that adequate preparations have been made to treat all affected persons. Story HighlightsPrime Minister, the Most Hon. Portia Simpson Miller, has commended the efforts of stakeholder agencies involved in the fire containment operations at the Riverton City Disposal Site in St. Andrew.Speaking at special meeting convened at Jamaica House, where she was updated on activities being undertaken, Mrs. Simpson Miller praised the “collaboration (among) the agencies”, which has resulted in significant containment of the blaze, which has been burning since Wednesday, March 11.The Prime Minister urged the agencies to continue working assiduously to extinguish the flames, while voicing concern over the adverse and worrying effect which the smoke emanating has been having on persons, particularly children, as also the dislocation of operations at schools and businesses. Prime Minister Commends Agencies Containing Riverton Fire Prime MinisterMarch 16, 2015Written by: Garfield Angus Advertisements FacebookTwitterWhatsAppEmail last_img read more

Arizona ends fee sharing ban

first_imgArizona ends fee sharing ban Nov 12, 2020 By Gary Blankenship Senior Editor Top Stories New rules also allow ‘legal paraprofessionals’ The Arizona Supreme Court has amended that state’s lawyer rules to allow attorneys to share fees with nonlawyers and permit “legal paraprofessionals” to give legal advice in four areas.Arizona Vice Chief Justice Ann Timmer reviewed those changes on November 9 with The Florida Bar’s Special Committee to Improve the Delivery of Legal Services. The special committee is charged with studying “whether and how the rules governing the practice of law in Florida may be revised to improve the delivery of legal services to Florida’s consumers and to assure Florida lawyers play a proper and prominent role in the provision of these services.”Timmer, who headed the task force that recommended the changes, said the main alterations were to eliminate its Ethics Rule 5.4, which prohibited lawyers from sharing fees with nonlawyers and allowing the new legal paraprofessionals to offer legal assistance and advice in family law, administrative, minor criminal cases that do not include incarcerations, and small civil cases such as small claims or landlord/tenant actions.The eliminating of the fee-sharing provision will allow alternative business structures where lawyers can be in partnerships with other professionals to provide joint services, Timmer said.Since 2005, Arizona has had licensed document preparers, who can help Arizonians fill out legal paperwork, but cannot provide legal advice, Timmer said, so providing a new level of nonlawyer assistance has some precedence.“We commissioned a poll on the legal service provider issue and the alternative business structure issue and it got overwhelming support from the public, particularly for the new tier of paraprofessional. People really want that kind of thing,” Timmer told the committee.Timmer said she initially had the same reservations as many lawyers about fee sharing and its potential to undermine lawyer independence, allow conflicts of interest, and endanger client confidentiality.“We took some of the ethical rules and beefed them up to make it crystal clear those three things have to be preserved,” Timmer said. “The recommendation was the court regulate entities, so any new entity that was formed for the fee-sharing rule would have to submit itself to the jurisdiction of the court and agree to abide by an ethical code and a disciplinary code that we would set up.”The businesses also must have a compliance attorney to ensure the company conforms with the ethical requirements. Businesses that break the rules could lose their license, have their license suspended, or be fined, Timmer said. Licenses must be renewed annually.She also said Arizona tried to walk a line of encouraging innovation without putting a straitjacket on how it should happen, including getting advice from other states that had gone through a similar process.“They said to resist the temptation to over regulate because when you’re doing something new and you want innovation, if you just turn around and slap [on] a bunch of new constraints you’re not going to get what you’re hoping for,” Timmer said. “We took that to heart and tried to resist that temptation and just set up what we think is necessary for protection of the public and then let’s just see what people come up with.”The Arizona task force also looked at the “regulatory sandbox” concept, which allows business, law firms, and others to make experimental proposals that require rules adjustments that would apply specifically to those experiments to see if they provide services without harming the public. Timmer said the committee decided to reject that idea because “we were concerned that people would not want to spend a lot of money and effort to put something together that might not get final approval.”Eliminating the fee-sharing rule will provide the necessary flexibility, she said, without fear the rules could be changed.Committee chair and immediate past Bar President John Stewart asked Timmer how Arizona proponents addressed concerns that changes would undermine the profession’s core principals without any corresponding benefit, such as improved access to justice.“I do think the impetus for the task force was…access to justice and the idea being that the more you have innovation the more people will find there’s a great market for this, and if there’s a market, people will try to serve that market,” Timmer said.“This is not a mutually exclusive proposition, having ABS [alternative business structures] and lawyers making money,” she continued.Many people now turn to unregulated online services for such things as wills and simple business incorporations instead of going to lawyers, Timmer said, adding, “If you give more opportunities for lawyers to change their practice and increase where they can go, then I think they will benefit as well.”On the legal paraprofessionals, Timmer said the system initially will allow those who meet experience or education standards to apply. They will have to pass character and fitness reviews and a test for each of the four areas they want to practice in.The state already has 600 to 700 licensed document preparers and Timmer said she hopes there will eventually be that many licensed paraprofessionals. She said the Arizona rules are not as stringent as the state of Washington program that allows limited licensed legal technicians.No new LLLT licenses will be issued in Washington after July 31, 2022, and Timmer said the requirements there were so strict and expensive that only a few people became LLLTs. That small number didn’t justify the expense of running the program, she said.Timmer said her task force began its work in January 2019 and issued a report the following October. That was reviewed by the Arizona Judicial Council, which advises the Supreme Court on policy matters, and then filed with the court.On August 27, the court adopted the general rules on fee sharing/alternative business structures and the legal paraprofessionals. On November 4, the court adopted the amendments, effective January 1, to the Arizona Code of Judicial Administration to implement both programs.Links to the actions can be found on the Arizona Supreme Court’s website: Special Committee to Improve the Delivery of Legal Services has set up subcommittees to look at issues including fee sharing and the regulatory sandbox, lawyer advertising, lawyer referral services, and on getting input from lawyers and the public.Stewart noted the committee, set up by a Supreme Court administrative order last year, has not made any decision on any issue, but is scheduled to submit its final report to the Supreme Court and the Board of Governors in June.last_img read more