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.
MFI is pursuing a major review of its external legal advisers as the FTSE 250 furniture retailer moves to slash professional advisory fees by at least £5m.
The retailer’s sole in-house lawyer Adrian Thurston confirmed to The Lawyer that MFI is keen to consolidate its advisers in the hope that it can strike a deal on fees.
“There’s nothing wrong with the quality of service we’re getting,” he said. “We want to reduce MFI’s legal spend as much as possible without sacrificing quality. With legal spend, every little helps.” MFI’s annual external legal spend is understood to be between £1m and £1.5m.
Although the review is still at a very early stage, MFI is hoping to invite firms to offer proposals in the new year. However, Thurston said he was doubtful whether firms that currently do not have a relationship with MFI would be invited to participate in the exercise.
As part of the review, Thurston is also exploring the possibility of boosting MFI’s legal team so that more legal work can be handled in-house. “We generate enough work to justify recruiting another lawyer, but again it’s driven by cost,” he said.
MFI is also hoping to cut the amount it spends on auditor and broker fees.