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  • June 1, 2011 | International Edition

    Partnership culture leaves firms vulnerable to a few bad apples

    If proof was needed that old-fashioned partnership culture is alive and well in the City despite waves of partner culls and de-equitisations, then look no further than the case of Hogan Lovells' litigator Christopher Grierson and his alleged £1m expenses scam. Previously best known for working on the epic Bank of England/BCCI creditors dispute, his name will now forever be linked in legal circles with the shocking achievement of wrongfully claiming more than £1m in expenses over a four-year period, according to his former firm.

    1 minute read

  • June 1, 2011 |

    Mishcons posts 30% revenue growth as UK firms unveil healthy 2010-11 financials

    Mishcon de Reya and Berwin Leighton Paisner (BLP) have announced soaring turnover and profits for the 2010-11 financial year, as the first wave of UK law firms to post their results continue to unveil strong growth. Mishcons has seen turnover jump 30% to £61.5m, up from £47.5m in 2009-10, while profits per equity partner (PEP) also leapt by a similar percentage, growing from £450,000 to at least £575,000, with the final audited figure yet to be confirmed.

    1 minute read

  • June 1, 2011 |

    US law firms score high marks for London vacation schemes

    Three US firms have been rated among the best vacation scheme providers in the UK market, with Legal Week research also seeing Allen & Overy (A&O) identified by students as the most prestigious global law firm for the second year running. The Legal Week Intelligence 2011 Law Student Report saw Latham & Watkins and Baker & McKenzie take the top two spots for UK vacation schemes, with Cleary Gottlieb Steen & Hamilton coming in fourth place behind Ashurst.

    1 minute read

  • June 1, 2011 |

    Partnership culture leaves firms vulnerable to a few bad apples

    If proof was needed that old-fashioned partnership culture is alive and well in the City despite waves of partner culls and de-equitisations, then look no further than the case of Hogan Lovells' litigator Christopher Grierson and his alleged £1m expenses scam. Previously best known for working on the epic Bank of England/BCCI creditors dispute, his name will now forever be linked in legal circles with the shocking achievement of wrongfully claiming more than £1m in expenses over a four-year period, according to his former firm.

    1 minute read

  • May 31, 2011 |

    Addleshaws partner quits firm as SRA looks into expenses 'discrepancies'

    The Solicitors Regulation Authority (SRA) is investigating a former Addleshaw Goddard partner who allegedly made false expenses claims. Commercial real estate partner Mark Gilbert left Addleshaws at the end of the financial year after an internal investigation discovered discrepancies relating to expenses and disbursements.

    1 minute read

  • May 27, 2011 |

    BLP partners to see PEP rise 56% to £712k

    Berwin Leighton Paisner (BLP) has announced strong financial results for 2010-11, with profits per equity partner (PEP) set to soar by an estimated 56% to £712,000. The firm's estimated PEP figure, up from £455,000 in 2009-10, comes against a 20% rise in turnover to £229m, against £191m during the previous financial year.

    1 minute read

  • May 25, 2011 |

    Superinjunction report offers concessions and reassurance but fails to calm privacy storm

    The committee charged with reviewing the use of superinjunctions has called for the media to have advance notice of privacy orders and for the Government to monitor the use of injunctions. Pulling back from recommending major changes in its 100-page report, the committee chaired by the Master of the Rolls Lord Neuberger has argued that the current regime for granting injunctions is working effectively.

    1 minute read

  • May 25, 2011 |

    OC appoints new financial regulation chief with Addleshaws hire

    Osborne Clarke (OC) has appointed a new head of financial regulation with the hire of Addleshaw Goddard legal director David Blair. Blair, who left Addleshaws in April, took up the new role in OC's financial services team this month. He will support financial services sector group head Paul Anning in developing the firm's non-contentious regulatory offering.

    1 minute read

  • May 24, 2011 |

    Addleshaws to cut up to 40 jobs in comprehensive firm restructuring

    Addleshaw Goddard is set to cut up to 40 jobs across its business services function, with the redundancies coming against a backdrop of falling revenue and profits and an overhaul of its management and operational structure. The national firm has launched a 30-day consultation with all those at risk of redundancy in its business services division. The consultation is expected to lead to up to 40 job losses. No fee earners will be affected by the cuts.

    1 minute read

  • May 20, 2011 |

    Clydesdale Bank chooses 14 firms for new-look national legal panel

    Clydesdale Bank has consolidated its national legal panel, with firms including Norton Rose and Hogan Lovells winning spots on the new-look roster. The firm has named 14 firms on the panel, which also covers legal work for Yorkshire Bank, as both Yorkshire and Clydesdale are UK subsidiaries of parent National Australia Bank (NAB).

    1 minute read