Legal Brief: Pitch of the year?
Historically, it wasn’t unusual for lawyers to pick up clients on the golf course or in the corporate box at a major sporting fixture such as Wimbledon.
These days, however, much more sophisticated methods are used by clients to instruct lawyers including most notably panel reviews.
That’s why when the likes of Barclays announces the results of its panel review lawyers get very excited. As we reported yesterday, following a three-month review, the banking giant finalised the 129 places on its 11 sub panels with a number of firms including Addleshaw Goddard, Berwin Leighton Paisner, Bond Pearce, Clifford Chance, Hammonds and Linklaters winning spots on the revamped roster (see story).
Another panel review that has got everyone talking is that of Apple Retail’s. The division of the iconic computer manufacturer’s business that is responsible for all its stores has launched a search for a sole external adviser for Europe. The review is expected to be one of the most fiercely fought pitches of the year. Firms that have advised Apple across a number of areas in the past include Baker & McKenzie, Freshfields Bruckhaus Deringer and Jones Day (see story).
Elsewhere, family lawyers are closely examining the impact of yesterday’s Court of Appeal ruling, which could force courts to recognise the binding powers of pre-nuptial agreements. German heiress Katrin Radmacher went to the Court of Appeal to fight a High Court ruling that found she should pay over £5.8m to her ex-husband, despite him agreeing in a pre-nuptial contract not to make a claim to her fortune should they divorce.
Radmacher’s appeal was upheld. The judgment handed down by Lord Justice Thorpe, Lord Justice Rix and Lord Justice Wilson is the clearest signal yet that English and Welsh courts should take pre-nuptials as binding documents, as they already are in Germany and France (see story).
Another area of law that is also frequently in the news at the moment is pensions with many employers including Royal Mail grappling with the huge deficits in their final salary schemes. As such we’ve got CMS Cameron McKenna to write this fortnight’s Practice Area Focus on you’ve guessed it pensions law.
