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.
Law firms which advise on private infrastructure developments, such as power stations, pipelines and airports, enjoyed a business boom in 1993-1994, according to a new financial survey.
Firms earned legal fees worth hundreds of millions of pounds advising on a thousand billion dollars' worth of projects, says the report in Privatisation International magazine.
Baker & McKenzie led the field, working on 183 projects - US$76 billion worth of business in 50 countries. This was a huge growth in business over the previous year, when the firm advised on $27 billion worth of projects.
A close second in terms of value was Linklaters & Paines on $74 billion, up from $29 billion the previous year, spread over 52 projects in 21 countries.
Baker & McKenzie construction partner Tim Steadman says his firm is particularly proud to have broken into eastern Europe with the M1/M15 Project in Hungary.
"In terms of value that wasn't such a large project, only $350 million, but it was a ground breaking deal because it proved you can use private fin-ance for infrastructure in eastern Europe."
Steadman says the firm placed particular emphasis on its infrastructure work by creating a major projects group two years ago and predicts business in this sector will continue to grow.
Chris Manners, spokesman for Norton Rose, ranked fifth in the survey, says: "As markets emerge there is more work for lawyers, accountants, banks and construction firms."
Power projects accounted for most of the work undertaken by firms - 589 of the total 1,394 jobs. Roads, bridges and tunnels accounted for 208 developments, rail 134, pipelines 99, telecommunications 92, airports 66, water 56 and waste 61.