The LEDES Oversight Committee has released draft UTBMS codes for Mergers & Transactions. You can view the codes and provide feedback through this page until January 8, 2016.
The LEDES Board has ratified the GRC UTBMS Code set developed more than a year ago. The new codes are available here on UTBMS.com.
The LEDES Oversight Committee has formed a development subcommittee to consider UTBMS codes for Mergers & Acquisitions transactions. Go to LEDES,org for more information on how to volunteer for this important initiative.
Old friends Corinna Codd and Rajitha Boer at Yerra Solutions (www.yerrasolutions.com) have been in contact about creating an UTBMS code set specific to knowledge management services. They are forming an expert group and will start work on the codes this summer. They expect to have a final set to present at their conference in London in late October. Thereafter the work of the expert group will be presented to the LEDES Oversight Committee for review and ratification.
It is helpful when expert groups like this form to consider subject matter that may be outside the mainstream expertise of the LEDES membership.
I was pleased to be invited to participate in this effort and look forward to working with their global expert group.
I have been appointed by the LEDES Oversight Committee to lead a new effort to reconsider the timekeeper positions used in the LEDES invoice standards.
The project originates from the LOC’s commitment to extending the LEDES schema to support the billing of eDiscovery services. You may recall that the LOC released eDiscovery Task codes in 2011. Earlier this year the LOC released revised Activity and Expense Codes, another project led by me, that considered not only changes necessary to support eDiscovery but also changes needed across all of legal.
Like the Activity and Expense Code effort, the timekeeper revision project will look at changes necessary to support eDiscovery and also global legal needs associated with timekeeper positions. We have a small group of volunteers to staff this effort. I have timekeeper position considered by the Jackson Review project and the subcommittee will be reaching out to colleagues in different jurisdictions for suggestions for inclusion.
It is also expected that the LOC’s Timekeeper Attributes Standard ratified in 2007 will be updated as part of this project. More information on the Timekeeper Attributes Standard can be found here.
Look for more on this as the effort proceeds.
A quick update on the LEDES Oversight Committee’s Activity and Expense Code Project: The public comment period closed on 26 October and we received only 8 comments on the proposed revisions. The subcommittee will meet shortly to review the comments and move this project ahead, so look for more on this in future postings.