A few months ago, I wrote this post speculating on the proposal by a new Adelaide based law firm, Adlawgroup to charge newly admitted Lawyers $22,000.00 for a job. At that stage, I was speculating on the remuneration structure, but it has been confirmed that the Lawyers would not receive a base salary, but rather a commission.
In this article which was posted a few days ago, The Australian has confirmed that the Fair Work Ombudsman has inquired into the business model but is taking no action. Further, Law Society of South Australia president Rocco Perrotta is quoted saying that he expected a review into the business model to be completed within weeks and that the Law Society had no regulatory powers and could not prevent the firm from proceeding. Apparently 25 applicants are lined up and ready to begin. (more…)