This column has recently considered the position of the legal profession. Specifically, we concluded that law and the legal profession is forced to transform because of many influences. In short law will become much more businesslike. If that is the case one has to consider information in books such as “What you were not taught at Harvard Business School”, etc.
Law firms can choose to either reject or embrace artificial intelligence – but ready or not, the tech revolution has arrived. Story by Felicity Nelson and Stefanie Garber. Automation is an idea that either sparks genuine excitement or deep fear in lawyers. Having a computer extract the menial, repetitive tasks from a lawyer’s daily grind is a satisfying idea.
Once a person has been declared insolvent, a trustee is appointed to manage the insolvent estate. After appointment, the trustee has to gather all the assets, realise them and then distribute the proceeds among the creditors of said estate. A distinction however can be made between property which falls into such an estate, as opposed to property which does not fall into such an estate.