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.
Gianni Origoni set to take lion's share of adviser payouts in insolvency bonanza
Legal fees for Parmalat's restructuring are on track to rise to an estimated €100m (£68.7m) as the company prepares for its delayed listing on the Milan Stock Exchange.
Sources close to Parmalat have indicated that total advisers' fees could hit €170m (£116.8m), with legal fees falling between €70m (£48.1m) and €100m. Litigation is expected to account for up to 80 per cent of the bill.
The chief beneficiary of the fees bonanza is, unsurprisingly, Gianni Origoni Grippo & Partners, lawyers to Parmalat administrator Enrico Bondi. The firm advised on the restructuring, some discrete pieces of litigation and the upcoming IPO.
However, the firm's role has dwindled in recent months as the restructuring nears its conclusion. Gianni is now understood to be submitting bills of between €200,000 (£137,400) and €300,000 (£206,200) a month, compared with fees of €1m (£690,000) to €2m (£1.4m) per month at the outset of the administration.
Weil Gotshal & Manges, meanwhile, is believed to be submitting invoices of between €200,000 and €300,000 per month.
The firms leading Parm-alat's court actions are now reaping the lion's share of fees.
Around 70 law firms across 35 countries are acting on more than 500 pieces of litigation arising out of Parmalat's insolvency.
Studio Legale Lombardi Molinari - the litigation boutique advising on many of Bondi's revocation actions, as well as on the mammoth US suits against Citibank and Bank of America - and US plaintiff firm Quinn Emanuel Urquhart Oliver & Hedges are the biggest litigation billers.