News In Focus
Foundation to benefit from sale of Society's Legal Post stake
Promising students from less advantaged backgrounds will benefit from a major addition to the Lawscot Foundation, the Law Society of Scotland's recently established charity.
The Society has donated the proceeds of the sale of its stake in Legal Post to the Foundation, which was set up to help remove financial barriers between gifted students from less advantaged backgrounds and their access to the profession.
Having originally bought its stake for a nominal £20, the Society sold its shares following the takeover of Legal Post by DX, for no less than £261,585 – a sum which the Society’s Council has agreed should be donated to the Foundation.
Eilidh Wiseman, President of the Law Society of Scotland said: “I am delighted that after careful consideration, Council has decided to donate this windfall in its entirety to the Foundation. This cash injection will have a huge impact on the future generation of solicitors and generate the longest term return on investment.
“The Foundation is a fantastic initiative, which promotes equality and diversity within the legal profession. It has been supported wholeheartedly by the profession, many of whom have already donated and helped to raise almost £18,000 in the few short months since launch.”
The Foundation will offer funding of around £2,500 to students for each of the five years of study at undergraduate and diploma level. Entry for applications will open shortly. Beneficiaries will also receive mentoring from an experienced Scottish solicitor. Application forms and details of how to apply will be available on the Lawscot Foundation website.