The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
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.
Akin Gump Strauss Hauer & Feld has been appointed by South Korean giant Hyundai Engineering & Construction to fight its case for Iraq to pay for $1.1bn (£6.6m) of construction work undertaken during the Ba’ath regime.
Saddam Hussein’s government never paid for the work and Hyundai is now seeking to bring other Korean corporate creditors, with combined outstanding bills of $1.7bn (£1bn), into the negotiating group.
Three Akin Gump lawyers, all former officials at the US Treasury Department, have been assigned to Hyundai’s case, but their position looks bleak. The US Government is adamant that Iraq’s resources and the aid it is receiving will not go to pay foreign creditors.
Hyundai has already turned to the courts. It won a judgment in the US and is now seeking $860m (£518m) plus interest through a British court. However, the United Nations has protected Iraqi assets from such court orders until 2007.