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Beauty parade meaning

What does Beauty parade mean?
A beauty parade is the competitive pitch process used to select external legal advisers (law firms, barristers/advocates or other professionals). Clients invite candidates to demonstrate capability and propose pricing, then compare submissions to appoint a firm or build a panel. The term is descriptive, not defined in legislation or case law, and is used consistently across England & Wales, Scotland, Northern Ireland and Ireland. A beauty parade typically involves a request for proposal (RFP) or invitation to tender, written proposals with fee quotes (e.g. fixed fees, caps, blended rates or success fees), and shortlisted presentations or interviews. Assessment commonly covers relevant expertise, sector knowledge, resourcing, conflicts management, proposed scope, service delivery and technology, innovation, ESG/EDI commitments, references and pricing. In the public sector it must align with procurement rules (e.g. Public Contracts Regulations in the UK and EU-derived rules in Ireland), with transparent criteria and scoring, and may occur as a mini‑competition under a framework. Private sector processes are less prescriptive but usually follow internal procurement policies. Beauty parades can be run by correspondence or in person/virtually. They facilitate law firm selection and panel appointment but are time‑consuming and costly for bidders and require disciplined evaluation by clients.
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Irwin Mitchell Trust Corp v PW [2024] EWCOP 16: Court of Protection holds professional deputies cannot appoint connected asset managers; appointments are voidable for actual conflict; beauty parade process insufficient

Irwin Mitchell Trust Corp v PW [2024] EWCOP 16 What are the practical implications of this case? A Deputy is a fiduciary and must not place itself in arrangements where duty and self-interest collide. This judgment indicates that principle has been overlooked in practice, fostering a sizeable - and lucrative - habit of appointing linked investment managers or advisers. The ruling is, accordingly, a significant restatement of the law and a clear signal that the court will not accept intentional conflicts of interest. The potential financial fallout for the businesses involved (and not only Irwin Mitchell) could be considerable. What was the background? PW lacked capacity to manage her property and affairs. Irwin Mitchell’s Trust Corporation (IMTC) was appointed as Deputy. After a process assessing other asset managers alongside IMAM, in which PW’s husband participated, IMAM was chosen to oversee her investments. Some time later an application for a statutory Will was made, and during that process the Official Solicitor (OS) identified a potential conflict arising...

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