The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Mishcon de Reya has won compensation for a quartet of bankers who had their bonuses withheld after their employer was bought by Commerzbank.
Mishcon de Reya has won compensation for a quartet of bankers who had their bonuses withheld after their employer was bought by Commerzbank. German insurer Allianz sold Dresdner Kleinwort to Commerzbank last September. At the time the insurer set aside a e400m (£349.6m) bonus pot for Dresdner employees. In February, however, the bank, which had received an e18bn rescue package from the German government, said it would only pay bonuses to bankers with contractual guarantees.
Mishcon partner James Libson instructed Essex Court Chambers’ Andrew Hochhauser QC to represent the four in their attempt to win compensation from the bank. The High Court upheld their claim and found that Commerzbank breached its contract, failed to pay bonuses and failed to pay severance.
The bank was represented by McDermott Will & Emery, which instructed Blackstone Chambers’ Paul Goulding QC.