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.
DLA Piper has scored a substantial reduction in the damages a so-called vulture fund was seeking to retrieve from the Zambian government.
Mr Justice Smith ruled in the High Court (24 April) that the claim should be limited to $15.5m (£7.73m), as opposed to the $55m (£27.44m) sought by the vulture fund.
US company Donegal International purchased some Zambian debt from Romania in 1999 for $3.2m (£1.6m). It then pursued Zambia for the face value of the debt, but agreed with the impoverished African nation in 2003 to accept $16m (£7.98m).
Zambia defaulted on payment, which under the terms of the deal meant the whole debt plus back interest would be payable - a figure of $55m.
Smith J repeatedly criticised Donegal owner Michael Sheehan for dishonesty.
DLA Piper partner Janet Legrand, acting for Zambia, instructed William Blair QC of 3 Verulam Buildings, with Michael Sullivan of One Essex Court as junior lead.
Donegal was represented by Allen & Overy partner Peter Watson, who instructed Maitland Chambers' Anthony Trace QC, with Benjamin John of Maitland as junior lead.