Securing a major deal and having one of your partners take a senior role with the same client is a nice trick to pull off but Allen & Overy (A&O) appears to have managed that this week after securing a lead role on the Co-op’s rescue plan and ‘donating’ a veteran partner to the lender’s management team.
I was recently asked to speak on a panel debate for Georgetown Law at Freshfields Bruckhaus Deringer’s City office to discuss the big issues facing the profession. As the panel’s host, Freshfields managing partner Ted Burke, sent the speakers some outline topics and questions beforehand, I sketched out some points to help order my thoughts.
When the London Organising Committee of the Olympic and Paralympic Games (LOCOG)’s general counsel (GC) Terry Miller won Legal Business Lawyer of the Year 2013, it was little wonder that it was the most popular award of the night.
Met by rapturous applause from guests that included her boss – LOCOG chair Lord Coe – Miller was recognised for her outstanding work on London’s internationally lauded 2012 Olympics, leading a team of 36 lawyers in setting up the entire Olympic Games legal framework and acting as LOCOG’s ethical compliance officer.
Three insurance companies announced significant moves into the legal services market in April after sealing alternative business structure (ABS) joint ventures with law firms.
The Solicitors Regulation Authority (SRA) granted Admiral, Ageas and RAC ABS licences to extend their services beyond insurance to provide legal services for customers making no-fault personal injury claims.
Cleary Gottlieb Steen & Hamilton, Linklaters and London 2012’s Terry Miller were among the key prize-winners at last night’s Legal Business Awards.
Cleary Gottlieb was named Law Firm of the Year from a shortlist including Baker & McKenzie, Bristows, Clifford Chance, Clyde & Co, RPC and Travers Smith. The Wall Street leader was singled out for a truly outstanding year, combining cutting-edge mandates such as Greece’s sovereign bond restructuring and advising Rosneft on its $55bn acquisition of TNK-BP, while posting the highest five-year growth rate of any elite global law firm.
From our first ever in-house survey, released in October 2012, it was clear that the hourly rate is still very much alive and kicking. After years of calling for its demise, why do clients still accept it, and will it ever die?
In-house teams are generally cutting back on legal spend with law firms but IP is a trend buster. As budgets continue to be squeezed, how can law firms run profitable IP businesses that offer good value?
According to his biography, published late last year, the late Steve Jobs was so incensed by Android’s alleged similarities to his beloved iPhone that he vowed to spend every cent of the $40bn Apple had in the bank defeating its rivals in court if he had to. And given the persistent arms race between Apple and the likes of Nokia, HTC, Samsung and Motorola, it seems no-one embroiled in the high-stakes smartphone and tablet wars is particularly concerned about cutting back on legal spend anytime soon.