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.
It’s a rare occurrence for a major commercial case to collapse because the defence has withdrawn part-way through the trial.
Yet that is exactly what happened when five banks, including HSBC, decided to sue Saudi investment company Ahmad Hamad Algosaibi & Brothers, which was advised by Baach Robinson & Lewis partner Eric Lewis (see story).
The defence withdrew nine days into the trial despite having spent what is understood to be a fair whack on legal fees. According to one of the claimant barristers, Tim Lord QC, theirs was a defence “built on sand”.
It must have been a decidedly large sand dune because the defendant has a global team of lawyers working in the UK, New York, Saudi Arabia and the Cayman Islands. It claims it was a victim of fraud, a claim the domestic banks hotly contest.
Domestically, the claimants - who wanted to recoup $250m - will be disappointed not to see their clients exonerated by a High Court judgment.
That won’t stop teams at Clifford Chance, Clyde & Co, Harbottle & Lewis, Herbert Smith, Reed Smith, Simmons & Simmons and Stephenson Harwood (not to mention a host of instructed barristers) popping the champagne corks.