Lawyers looking for stakes in dot coms. The Law Society has said that it does not want to introduce rules to stop firms and individual lawyers taking stakes in start-ups as fees despite potential problems over the duty of firms to give impartial advice. The comments came after news that Rosenblatt assistant Peter Crowther is set to make a fortune when TakeU2 floats in April. Crowther, the co-founder of the site, owns 35 per cent and Rosenblatt owns 25 per cent after investing a six-figure sum and waiving all its fees.
More than 40 newspaper editors. South Africa’s human rights commission has withdrawn summonses demanding that editors testify at hearings into alleged racism in the media. The subpoenas required editors to provide documentation which might deal with the issue of race in the news including all minutes of editorial meetings. The commission had tried to summons the editor of the Financial Times but found that he lived in London, beyond the inquiry’s jurisdiction.