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.
Charles Russell is heading for a High Court showdown with one of its former clients, record producer Mike Stock, who is suing the firm for negligence.
Stock, who produced Kylie Minogue's hit I Should Be So Lucky as part of pop producing trio Stock, Aitken & Waterman, is taking Charles Russell to court for more than £15,000.
He claims that the firm gave him bad advice in relation to a counterclaim he brought against his former accountant Guy Rippon.
Rippon was suing Stock for unpaid fees of £23,000 after an investigation by the Inland Revenue concerning £2m of unpaid taxes.
Stock's counterclaim was that he had overpaid Rippon and that the accountant's decisions meant he lost the chance to settle with the taxman for £1.75m.
The music man's beef with Charles Russell is that, according to Stoke, the firm advised him to turn down an offer of £100,000 in a mediation as "we will get more in court". In the end he lost more than £515,000.
Stock said the firm also estimated that the likely legal costs would be between £25,000 and £50,000, but in the end he had to drop the case and pay Rippon £232,500. He also lost £50,000 paid into court as well as his own costs of more than £233,000.
Stock's law firm Smith Gadd & Co will accuse Charles Russell of failing to keep the music producer properly informed over legal costs and failed to have discussions over whether the likely outcome would justify the expense or risk.
A spokesman from Charles Russell said: "The case is an ongoing matter and as a result we can't comment."