The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The bunfight for fees on the WorldCom restructuring has begun, with lawyers battling over their share of an estimated $150m (£89.6m) in costs.
The telecoms group, which has since rebranded as MCI, this month saw its reorganisation plan approved by a New York judge after 15 months of fraught negotiations.
As counsel to the official creditors committee for WorldCom, Akin Gump Stauss Hauer & Feld has submitted a bill for $3.3m (£2m) for advice given between 29 July 2002 and 30 November 2002. However, a fee audit committee - which was established by US Bankruptcy Judge Arthur Gonzalez in order to oversee the huge legal and financial advisory costs - questioned a number of bill and expense claims, resulting in Akin Gump reducing its billings by $95,000 (£57,000). At this stage it is not clear what Weil Gotshal & Manges' will charge. The firm, which is acting for WorldCom, notched up as much as $3m (£1.8m) a month during the restructuring.
The fee committee is expected to submit three reports on the fees. In the first of these reports, the committee recommended an overall $323,000 (£193,000) reduction related to all advisers on the case.