The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
Discovery has just started in a securities fraud and negligence case brought against Mayer Brown Rowe & Maw by bondholders who invested billions of dollars in Commercial Financial Services (CFS), a former US client of the firm.
CFS, which bought and sold delinquent credit card debt, filed for bankruptcy in 1998, defaulting on more than $1.6bn (£1bn) of bonds, after it emerged that it had been selling off loans in order to meet its debt collection targets.
To compound matters for Mayer Brown, CFS founder William Bartmann, who also faces action from the bondholders, has filed a third party claim against Mayer Brown, citing advice given to him by partner Jason Kravitt. Bartmann alleges that he left the language for CFS's final offering document entirely to his lawyer.
The bondholders, advised by Sachnoff & Weaver and Bingham Dana, allege that advice given by Mayer Brown on CFS's statements to investors kept them in the dark.
Mayer Brown's lawyer on the case, John Villa of Washington firm Williams & Connelly, told The Lawyer: "The drafting was a collaborative effort between client and lawyer and the ultimate decision of what to place in the document is the client's."
Villa said the order for discovery was entered early last week and is expected to last a year.