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.
Case: A claim for over $4bn (£2.8bn) alleging that the manner in which the Bank of America divested itself of its founding 25 per cent stake in BCCI between 1978 and 1980 was fraudulent because it knew about the fraudulent and imprudent manner in which BCCI's business was being run.
Progress: Trial to be heard in the High Court in 2002.
Lawyers: Lovells for the liquidators, with Richard Sheldon QC (3-4 South Square) and Robin Dicker QC (3-4 South Square); Rowe & Maw for Bank of America, with John Brisby QC (4 Stone Buildings).
Claim against the Bank of England
Case: A claim by BCCI's creditors against the Bank of England alleging misfeasance in public office against the bank. The damages being sought are £550m plus interest.
Progress: Following a hearing in January, the House of Lords ruled in March that the claim should proceed to trial as quickly as is feasible, probably late next year.
Lawyers: Lovells for the liquidators, with Lord Neill of Bladen QC (Serle Court), Richard Sheldon QC (3-4 South Square) and Robin Dicker QC (3-4 South Square); Freshfields Bruckhaus Deringer for the bank, with Nicholas Stadlen QC (Fountain Court) and Mark Phillips QC (3-4 South Square).
Employee stigma claim against BCCI liquidators
Case: Claims by BCCI former employees for damages for the stigma associated with employment at the bank.
Progress: In 1997 the House of Lords ruled that the former employees might theoretically be entitled to stigma damages, but test cases have so far failed to produce damages for any employees.
Lawyers: Lovells for the liquidators, with Christopher Jeans QC (11 King's Bench Walk, the chambers of Eldred Tabachnik QC and James Goudie QC) and Richard Sheldon QC (3-4 South Square); Beale and Company, Manches & Co, Lucas Baron Jacobs for employees, with Cherie Booth QC (Matrix Chambers) and Ajmalul Hossain QC (29 Bedford Row Chambers).
Claim against the former auditors of BCCI
Case: The liquidators pursued claims in England against the former auditors of BCCI companies, the then Price Waterhouse and Ernst & Whitney, alleging negligence.
Progress: A settlement was agreed in 1998 under which the auditors and others have paid $195m (£135.6m) to the liquidators.
Lawyers: Lovells for the liquidator, with John Powell QC (Four New Square); Herbert Smith for respondent Price Waterhouse, with John Nicholls (Maitland Chambers); Linklaters & Alliance for respondent Ernst & Whitney, with Iain Milligan QC (20 Essex Street).