Law firm Leon Kaye has launched an investigation into the legal implications of Skipton Building Society’s decision to scrap the ceiling on its standard variable rate.

Money Marketing first revealed last month Skipton’s move to scrap the ceiling rate on its SVR, which had meant borrowers would not pay more than 3 per cent above the base rate.

The society blamed “exceptional circumstances” for removing the ceiling.

Leon Kaye Solicitors says such clauses are normally built in to contracts to ensure the lender has some control but it is investigating whether Skipton could be in breach of the Unfair Contract Terms Act 1977.

Leon Kaye Solicitors’ statement says: “Those borrowers who cannot switch mortgages will be exposed to significant increases in their interest payments despite taking out an SVR for added protection against such rises in the interest rate.

Montgomery law firm Beasley Allen Crow Methvin Portis & Miles PC recently filed a lawsuit against Toyota Motor Corp. and Toyota Motor Sales USA on behalf of more than 500,000 Toyota Prius and Lexus Hybrid owners.

The firm, which filed the case in the U.S. District Court Middle District of Alabama, alleges that Toyota concealed facts relating to the defects in the accelerator braking system. Beasley also filed complaints of breach of implied warranty of merchantability, fraudulent concealment, unjust enrichment and breach of the covenant of good faith and fair dealing, according to a written statement.

“Toyota knew about these defects long before they issued a recall, yet they continued to market the vehicles as safe and reliable,” said Dee Miles, head of Beasley Allen’s consumer fraud and class action department.

Toyota Motor Corp. (NYSE:TM) has been under scrutiny recently after initiating several recalls on millions of vehicles. One of the most recent recalls included fixing accelerator pedals that began to stick over time, preventing drivers from stopping with their brakes, according to news reports.

The way some people tell it, law firms have begun to sound more like used-car companies, offering up deep discounts or alternative-fee arrangements.

Alternative fees, discounted billing rates and fixed-fees are becoming more and more rampant in the legal world, although it remains to be seen just how cost-effective those discounts are.

“It’s incredibly easy to get discounts,” said Jay Shepherd, founder of Boston-based Shepherd Law Group. Shepherd has famously shunned the billable-hour model, in favor of fixed-fee arrangements. “I’ve talked to many in-house counsels who say, ‘I just make a phone call, and I get a discount.’ Law firms are doing something that car companies did about a year ago, with the employee discount pricing. It becomes a frenzy of discounting.”

Private equity firms are again being threatened with higher taxes, as a long-running debate over how to classify their profits again becomes a focus for governments desperate for cash.

But while high-profile buyout firms may seem an easy target, the question is a controversial one. Critics argue that raising the taxes paid by the private equity industry will also hit small partnerships and venture capital, and may not even raise as much revenue as governments hope.

Part of the argument against higher taxes is that they could hinder jobs growth at a time when major economies are struggling with high unemployment rates.

Parker Waichman Alonso LLP, together with the Becnel Law Firm, LLC, announces that it filed suit on behalf of several consumers who purchased Toyota vehicles subject to various recalls issued in January 2010 for defects in the vehicles' gas pedals. The lawsuit, which was filed in the U.S. District Court for the Eastern District of Louisiana, seeks class action status.

intended to benefit all residents of the United States who purchased a Toyota vehicle of model years 2005, 2006, 2007, 2008, 2009, and/or 2010 that is subject to the recalls.

Parker Waichman Alonso LLP has been contacted by hundreds of Toyota owners, including the family of a man who died in a vehicle accident, with questions about their legal rights in relation to these recalls. If you or someone you know owns or has owned one of the Toyota vehicles involved in these recalls, please contact our office by visiting www.yourlawyer.com

Free case evaluations are also available by calling Parker Waichman Alonso LLP at 1-800-LAW-INFO (1-800-529-4636).

On September 29, 2009, the National Highway Traffic Safety Administration (NHTSA) announced that Toyota was recalling floor mats on approximately 4.2 million vehicles, which allegedly caused the accelerator pedals in the vehicles to become stuck in the depressed position, leading to uncontrollable and rapid acceleration of the vehicles. On January 21, 2010, Toyota recalled yet another 2.3 million vehicles produced in the years 2005 through 2010 due to accelerator pedals on those vehicles becoming stuck in a depressed position, causing unexpected and unsafe acceleration. As of January 2010, Toyota had recalled a total 5.3 million vehicles due to problems with accelerator pedals sticking.

The class action lawsuit filed by Parker Waichman Alonso LLP and the Becnel Law Firm, LLC alleges that, as a result of these recalls, Toyota owners lost the use of their vehicles, and sustained, among things, economic losses and severe emotional distress. The complaint charges Toyota with breach of implied warranty and negligence, and seeks compensatory, punitive and exemplary damages for the Class, as well as equitable and declaratory relief. It also asks the Court to enjoin Toyota from implementing any fixes in the accelerator pedals of the sub