Managing Director of Barings Law, Craig Cooper, and former partner Erich Kurtz were forced to spend the week in London, giving evidence over unfounded allegations of misleading clients and sending out claim letters on behalf of fictional clients.
The allegations, which were initially scheduled for review over seven days, concerned the firm’s work advocating for justice for mis-sold loans by payday lenders, including Elevate Credit International Limited, also known as Sunny.
Barings Law was instrumental in the 2020 Kerrigan v Elevate test case, with The High Court ruling that Sunny breached the requirements of the Consumer Credit Sourcebook by granting loans without adequate assessment of their borrowers’ circumstances.
Mr Cooper, who feels the hearing took away valuable time from himself and the firm, had to sit through additional accusations that he breached the UK's 2017 Money Laundering Regulations despite him claiming he relied upon guidance from the law society and the regulations themselves.
Mr Cooper said it was disappointing to have had to listen to the allegations, which concludes six years of persistent and false speculation by the regulator.
These allegations follow a series of recent high-profile and costly case losses by the SRA at the Solicitors Disciplinary Tribunal (SDT), raising questions about the regulator's approach to enforcement.
He continued: “The allegations against myself have not only been baseless but represent an egregious waste of time and resources.
“For years, I faced unfounded accusations that diverted attention from critical matters. I am grateful that, despite these challenges, I have still been able to serve our clients to the degree they deserve.
"Furthermore, the tribunal’s decision to award costs in our favour underscores the absence of merit in the SRA's accusations and reflects a serious lapse in regulatory focus and accountability."
Recognised as a leader in both consumer and commercial claims, Barings Law represents victims of mis-sold motor finance, mis-sold pensions and mis-sold business energy claims, among other areas. The firm is also widely known for its work in data protection and has been a pioneer in digital innovation as a leading UK law firm.
Reflecting on the firm’s success since taking it over in 2013, Mr Cooper said he has focused on transforming it into a leader in legal technology, enabling broader access to justice by processing high volume claims with accuracy and care.
November marks the 15-year anniversary of the firm’s inception and throughout the past decade and a half, it has paved the way in Business Interruption Claims by recently winning a historic test case against insurers.
The firm is also fighting for thousands of victims of Data Breach, by taking on claims from those impacted by the Capita cyber-attack as well as separate claims relating to members of the Armed Forces.
Mr Cooper added: “Barings Law has always prioritised the best interests of its clients and prides itself on its reputation as a reputable, ethical law firm with a solid track record.
“Our commitment to innovation and consumer rights remains steadfast, and we will continue to stand against unethical practices to secure justice for our clients.
“I’m looking forward to returning to Manchester and continuing our work to secure compensation for the thousands of clients who depend on us.
“While we understand the SRA’s challenging role and have always worked cooperatively, we believe more resources should be allocated to vetting accusations before they reach the SDT, however we empathise with their workload and important responsibility as the regulator.
“With our continuous advancements in technology, we continue to demonstrate what is needed to efficiently manage high-volume claims. We also maintain regular communication with the SRA to keep them informed about our latest innovations.”