In it to win it

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  • Mmmm, this is interesting. Not a single mention this year of any of Clyde & Co, DAC Beachcroft or Kennedys? All have previously featured strongly but seemingly no more. Is there any connection here? All are now very large firms with high debt:profit ratios and significant exposure to the commoditised insurance claims market.

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  • Those firms are absent but arguably nobody noticed until Ms Woolf pointed out. As these are old firms in an old market with too much gearing in a declining segment of the law where clients are happy to let price rule over quality it doesn't matter much - they'll be gone soon. What all should be afraid of are the rising firms and new models for how to deliver legal services efficiently and profitably. The Lawyer have recognised this by looking beyond the 'establishment' firms for some of their award categories and this is a good step forwards.

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