Australian-listed Slater & Gordon (S&G), which makes 80% of its UK revenue from personal injury claims, lost half its stock market value yesterday (25 November) after the UK government announced plans to limit the number of personal injury claims.
H1 2015/16: Steady as she goes – A&O attributes 4% revenue rise to London performance
Allen & Overy (A&O) has posted a 4% revenue increase for the first six months of the 2015/16 financial year. Turnover rose to £642m rising 3.6% from the same period last year.
RBS litigation: judge takes defence team to task over ‘less than wholly satisfactory’ disclosure process
Herbert Smith Freehills (HSF) and its client the Royal Bank of Scotland have been criticised for their role in a ‘less than compelling’ and ‘unfocused’ disclosure process in the long running £4bn shareholder dispute against the bank.
Guest post: Where now for personal injury lawyers?
It is two years and one month since the coalition government decided not to raise the small claims limit for personal injury (PI) from £1,000 to £5,000.
Continue reading “Guest post: Where now for personal injury lawyers?”
More investment planned as DWF notes profit fall and borrowings rise in annual review
Profit at top-25 firm DWF fell 7% for the year ending 30 April 2015 from £50.4m to £46.7m, which the firm has attributed to a ‘focus on the integration of our people as well as consolidation following our mergers and acquisitions’.
Partner promotions: Weil Gotshal focuses on New York and London in reduced round
Seven of the eight promotions to partner at Weil, Gotshal & Manges were made in New York and London this year, as the firm carried out a slimmed down promotions round.
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Addleshaws in bid to merge with Glasgow’s Maclays as run of Anglo-Scots consolidation continues
Addleshaw Goddard is in talks to merge with Scots law firm Maclay Murray & Spens in a deal that would create a national practice with combined revenues of around £230m and offices in eleven locations, including London, Manchester, Aberdeen, Edinburgh and Hong Kong.
Parabis founders take £4m loan to complete Plexus MBO
A buyout team comprising the founders of the now-defunct Parabis Group has formally acquired its defendant insurance firm Plexus Law, in a deal that will see the transfer of over 900 staff, supported by a £4.2m loan.
Continue reading “Parabis founders take £4m loan to complete Plexus MBO”
Dentons continues international expansion with Luxembourg tie-up
Dentons has announced its fifth merger of 2015 and today (25 November) confirmed a tie-up with Luxembourg firm OPF Partners, a deal which will add 34 lawyers including nine partners to the roster and incorporate the latter firm into Dentons’ European LLP.
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Autumn Statement: Osborne brings more gloom to the legal sector with deeper MoJ cuts and court closures
While a decision to backtrack on tax credit cuts stole the limelight in the Autumn Statement today (November 25), Chancellor George Osborne revealed further cuts to the Ministry of Justice (MoJ), plans to close 91 courts and curbs on aggressive PI firms pursuing road accident claims.
Expansion mode: HSF reopens in Saudi Arabia with new association
In its third office opening in a year, following on from launches in Düsseldorf and Johannesburg, Herbert Smith Freehills (HSF) has reopened in Saudi Arabia through a local association.
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Manchester insurance firm takes on 43-strong team from Parabis as group unravels in administration
Manchester firm Horwich Farrelly has today (24 November) announced it has taken a 43-strong personal injury team from the Parabis Group, including seven partners, just one day after it emerged Parabis is to be broken up and sold in a £50m pre-pack administration deal. Continue reading “Manchester insurance firm takes on 43-strong team from Parabis as group unravels in administration”
Revolving doors: Winston & Strawn, Withers, Dentons make key City hires, Clydes recruits lateral down under
While Paul Hastings stood out for its trifecta of high-profile lateral hires last week, Winston & Strawn, Withers and Clyde & Co have also added to their ranks.
Latham taps Hogan Lovells as City finance push continues
Latham & Watkins continues to enhance its finance roster, this time with experienced Hogan Lovells partner Gary Hamp. The hire comes shortly after Hogan Lovells had taken three Latham partners in Dubai.
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Update: Parabis Group enters £50m pre-pack administration
Having just recently confirmed the sale of its defendant personal injury arm Plexus Law, legal and professional services provider Parabis Group is to be broken up and sold in a seven-part pre-pack administration process.
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Bears, woods and silk: dual research reminds profession of stalled diversity progress
Recent efforts to improve social mobility within the legal profession are having little-to-no effect at the Bar and within the judiciary, two new studies have concluded.
Making history: US elite lines up to advise on Pfizer takeover of Allergan
In what has been reported as the largest pharmaceutical deal in history, four of the biggest Wall Street players have advised on Viagra-owner Pfizer’s agreed $160bn takeover of Botox-maker Allergan.
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Third lateral hire of the week: Paul Hastings appoints Clifford Chance corporate partner in Frankfurt
Following two major hires in the City this week, US firm Paul Hastings has turned its attentions to Frankfurt with the addition of Clifford Chance corporate partner Bernd Meyer-Witting.
Guest post: The future is uncertain – how to still make the decisions you’re putting off anyway
Presumably you make decisions all the time, in managing your matters, selecting strategies and tactics, and of course outside the work environment as well – with your spouse or significant other, family, and pets; in the context of your church, synagogue, club, neighbourhood; and on and on.
H1 2015/16: ‘An exceptional year’ – OC still going strong with double digit revenue growth at home and abroad
Osborne Clarke (OC) has posted another set of strong financial figures for the first six months of the year, with a 25% increase in turnover across its international business, and a 14% increase in UK revenue.