National firm DAC Beachcroft has unveiled a 2% rise in 2015/16 half year revenues to £100.8m, while overall net debt fell by £4.7m (17%) year-on-year.
‘Irrelevant word-smithing’: Leading law firms to pay millions for apprenticeships payroll tax
Preliminary Law Society figures estimate more than 250 firms will be hit by the 0.5% payroll tax to supplement apprenticeships announced in last month’s Autumn Statement, as full details of the levy are delayed.
Property panel: Hogan Lovells, Wragges and CMS Cameron McKenna take places on M&G Real Estate roster
Prudential investment arm M&G Real Estate has finalised its external legal panel with places going to Hogan Lovells, Wragge Lawrence Graham & Co (WLG), and CMS Cameron McKenna following a tender process.
US partner promotions: Sidley Austin makes up just one in London in reduced round
Sidley Austin is the latest US firm to announce its partnership promotions, electing 24 new partners, but making up just one in London in a reduced partnership round.
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Comment: UK’s fintech boom is set to dazzle but advisers are still struggling to respond
Unless you have been too busy reconciling your cheque book stubs against your monthly paper bank statements, you may have heard that the financial technology (fintech) sector is white hot right now.
Christmas comes early for Slaughter and May associates with biggest bonuses yet
Magic Circle firm Slaughter and May has followed up steep rises in salary earlier this year with bumper bonuses as high-performing junior lawyers pocket over £15,000.
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Guest post: The strange, slow death of the criminal courts charge
The criminal courts charge is, or was, one of the less well thought-through criminal justice reforms of recent years. Since April this year, courts have had a duty under section 21A of the Prosecution of Offences Act 1985 to impose a fixed charge ‘in respect of relevant court costs’ on those convicted of offences.
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Taking off: easyJet legal chief Winterton to depart for taxi app company
After nearly a decade in the role easyJet’s longstanding head of legal and compliance, Andrew Winterton, is leaving to join a start-up taxi app company.
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US bonus season: Skadden ups the ante with bonus as Simpson Thacher, Paul Weiss and others match Cravath associate pay
Wall Street’s top firms have announced their bonuses for associates, with many matching the levels of Cravath, Swaine & Moore, which became the first US firm to set the benchmark for US associate bonuses this year.
US partner promotions: Quinn Emanuel makes up one in London in global round of nine
Quinn Emanuel Urquhart & Sullivan has promoted one partner in the City in a global promotions round which saw the firm elect nine new partners globally in locations including New York, Washington and Hong Kong.
Privilege under threat: Legal lobby raises alarm over Snooper’s charter
Both The Law Society and The Bar Council have called for legal professional privilege (LPP) to receive statutory protection in the forthcoming Investigatory Powers Bill.
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Comment: NRF’s Martyr – ‘Society craves balance but the profession drives our people in a different direction’
Our profession is facing a growing tension between the drive for profit – the resurgent guiding principle of the 2000s – and the increasing demand for more social responsibility among businesses. Post-recession, we can add increased competition, the scrutiny of the business press and a growing focus on efficiency into the mix, all of which amounts to a potential recipe for trouble. Continue reading “Comment: NRF’s Martyr – ‘Society craves balance but the profession drives our people in a different direction’”
DLA Piper pushes finance credentials with senior hires from Slaughters and Baker Mac
DLA Piper has made a major finance play in the City with the hire of former Slaughter and May partner Mark Dwyer and Baker & McKenzie structured finance veteran Vincent Keaveny.
Weapons down: CC settles high profile Excalibur negligence case
Avoiding the prospect of a costly and public trial, Clifford Chance (CC) has settled a professional negligence claim against it over the high-profile Excalibur dispute brought by the case’s funders and Greek shipping tycoons, the Lemos family, for an undisclosed sum.
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Kennedys obtains Scandinavia cover with Danish merger and Norway and Sweden alliances
After spending most of 2015 launching new offices and forming international alliances, Kennedys has announced one merger and two formal alliances with three Scandinavian firms in a bid to boost its European presence.
International hires: Hogan Lovells brings in key Hong Kong arbitration lateral as Mayer Brown expands German practice
Hogan Lovells and Mayer Brown have announced significant international recruitment today (9 December). Hogan Lovells has improved its disputes practice with the hire of Baker & McKenzie’s Hong Kong head of international arbitration James Kwan, while Mayer Brown has hired a three-lawyer team from Clifford Chance (CC) in Frankfurt to expand its M&A and restructuring practice.
Comment: Big picture, big mess – familiar turf wars as the legal education debate drags on
Legal education reform. First principles. Root and branch. It was ever thus. Attending the Westminster Legal Policy Forum (WLPF) seminar this week, the legal education community was much exercised about the latest attempts to reform the framework for training lawyers.
Comment: The moment of truth arises – will the profession stand up to Gove?
In business as in life, if you want respect you have to start by expecting it and not putting up with its absence. Perhaps the ludicrous attempt to bully the commercial legal profession into taking on more pro bono with the threat of a levy on the UK’s largest law firms will make that point sink in.
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Market reaction: jury still out on Irwin Mitchell’s £40m takeover of Thomas Eggar
In a move that demonstrates consolidation is still very much on trend for national law firms, Irwin Mitchell’s continuation of its aggressive expansion policy by merging with the south-east based Thomas Eggar this month has garnered a mixed reaction from the market.
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Dewey trial: prosecutor offers guilty deals to three defendants as Davis’ lawyers continue to negotiate
US prosecutors have told a New York judge of new guilty plea deals offered to three senior Dewey & LeBoeuf executives after the criminal case over the biggest law firm bankruptcy in history collapsed recently.