Following on from the high profile Tchenguiz brothers’ lawsuit against the Serious Fraud Office (SFO) in July this year, Vincent Tchenguiz has filed a further claim, this time for £2.2bn against five parties who allegedly conspired to instigate the failed investigation led by the SFO into the Tchenguiz brothers, Consensus Business Group (CBC) and the Tchenguiz Family Trust (TFT).
The Friday Edit: Bear markets, going postal and every little £263m helps
With the ill-advised Jack Daniels and coke I had forced on me at the back end of the British Legal Awards still making itself felt, the week is rapidly drawing to a close, so it’s time for The Friday Edit, our informal take on the notable legal events that happened since Monday. For subscriber content, click here for full access to Legal Business or email ‘[email protected]’ for more information.
Continue reading “The Friday Edit: Bear markets, going postal and every little £263m helps”
‘Costs disputes is a growth area’: Thirty Nine Essex Street appoints former Senior Costs Judge
Leading set Thirty Nine Essex Street has yesterday (26 November) announced a major appointment, with Peter Hurst, former Senior Costs Judge of England and Wales at the Royal Courts of Justice, joining as an arbitrator and mediator.
Partner exits mount: Edwards Wildman loses commercial litigation partner to GlaxoSmithKline
Pharmaceutical giant GlaxoSmithKline (GSK) is the latest to dip into the dwindling partnership at Edwards Wildman Palmer’s London office as it has emerged that commercial litigation partner, Antonio Suarez-Martinez, is leaving the firm for the corporate’s legal team.
‘Not persuaded by the evidence’: Legal Services Board rejects SRA proposal to reduce minimum PII cover
The Legal Services Board (LSB) has today (27 November) published its decision on the Solicitors Regulation Authority (SRA) professional indemnity insurance (PII) application, and has refused a proposed reduction in the minimum level of PII cover from the current level of £2m to £500,000.
‘We have seen the potential pitfalls’: Ropes & Gray relocates to double office size due to City growth
Ropes & Gray is set to relocate to 1 New Ludgate, almost double its current office space, on the back of a rising headcount and expanding practice areas.
4 out of 12: Weil Gotshal makes London-heavy promotion round
Four London associates at Weil, Gotshal & Manges have been made up to partner, accounting for a third of the firm’s latest promotions round.
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H1 2014/15: ‘Returns on our strategy’ – Watson, Farley & Williams revenues increase 8%
Watson, Farley & Williams (WFW) has posted an 8% rise in revenues for the first half of 2014/15 with global turnover standing at £56.8m for the half-year ending 31 October 2014, up from £52m for the same period last year.
The cost of a signature: Mishcon loses out as Supreme Court dismisses Saudi Prince’s appeal
A major blow has been dealt to Saudi royalty, Prince Abdulaziz Bin Mishal bin Abdulaziz Al Saud, by the Supreme Court today (26 November) after a judgment, handed down by Lord Neuberger, dismissed his appeal to refuse to comply with a personal signature order.
Targeting Europe: James Roome set for a place on Akin Gump’s global board
London-based restructuring guru James Roome, who carried a 28-partner team from Bingham McCutchen to Akin Gump Strauss Hauer & Feld this summer, is set to boost the European presence on Akin’s global management committee.
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US associate bonuses: Simpson first to unveil, Cravath follows and Skadden tops with $110,000 bonus
The US bonus season, usually led by Cravath Swaine & Moore, has this year seen Simpson Thacher & Bartlett kick-start the process ahead of the traditional schedule, and set a very high bar for the rest of the American elite firms.
Guest post: Tiger, Plant, Freshfields and the Short Sellers – a look at legal ethics in ABS-owner Quindell’s woes
Charles Plant, outgoing Chair of the SRA who has led the SRA through one of the more interesting phases in its relatively young life, had some interesting thoughts in a recent valedictory speech (at legal futures). In particular, flat-earther comments aside, he is reported as having offered this:
‘Doing more for the large clients’: Simmons & Simmons posts 8% rise in revenue
Top-20 UK firm Simmons & Simmons has seen revenue rise 8% for the first six months of the 2014-15 financial year with income, buoyed by the recovery in bank lending for M&A and financial regulatory work, increasing from £130m to £140m.
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Regional Insight 2015
Slimming down: Linklaters to vote on overhaul of management structure
The Linklaters partnership will vote on plans to shrink the firm’s international board by four members tomorrow (25 November 2014) in an effort to cut down time spent on management.
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Regional Insight 2015
‘An excellent outcome for the creditors’: Collyer Bristow makes £24m settlement over Rangers FC advice
The liquidators for Scottish football club Rangers have confirmed a £24m settlement has been paid by City firm Collyer Bristow over fees they received in relation to the club’s controversial 2011 takeover.
Hiring a silk: Stone Chambers chief Steven Gee QC to depart for City disputes boutique Joseph Hage Arronson
High flying disputes boutique Joseph Hage Aaronson is set to enhance its City team with the hire of leading silk Steven Gee QC, who serves as the current head of Stone Chambers.
Yorkshire: No quarter asked
As one of the region’s most sophisticated and competitive hubs, Yorkshire lawyers are still expecting to fight for work, even in a reviving economy.
Wales: Back to basics
With a far higher percentage of public sector respondents and a high proportion of SME businesses, Wales has unique legal requirements.