The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Guardian Care Homes has changed its advisor in its mammoth Libor battle with Barclays for the second time in three months, handing the case to Hausfeld & Co partners Anthony Maton and Lianne Craig.
The company is switching advisors just two months after taking the mandate away from Cooke, Young & Keidan to give it to Wilkes partnership partner Andrew Garland (6 December 2013) in December. On Monday it swapped again for Hausfeld (3 February).
Graisley was understood to be making the original swap for cost-cutting reasons after receiving CYK’s cost estimate. Wilkes Partnership took over the watershed mis-selling case two weeks before the case management hearing on the 6 December 2013.
CYK was understood to have told Graiseley it should consider switching firms to lower cost provincial providers if it was unable to pay the fees back in December but Hausfeld would not comment on its arrangement.
Wilkes Partnership withdrew the instruction from One Essex Court’s Stephen Auld QC and Outer Temple Chambers’ Farhaz Khan and Simon Oakes, handing it instead to to Bristol set Guildhall Chambers silk Stephen Davies QC, Neil Levy and John Virgo.
Hausfeld has instructed the same counsel. They will face off against Barclays’ heavyweight cast made up of South Square’s Robin Dicker QC and Jeremy Goldring QC and 3 Verulam Buildings’ Adrian Beltrami QC, instructed by Clifford Chance partner Ian Moulding.
It is not the only cast change since the high-profile mis-selling claim began. In 2012 Clifford Chance took over the lead role for Barclays after having acted jointly with Matthew Arnold & Baldwin for several months. Partner Ian Moulding took over the reigns in October.
Barclays became the first bank to admit its involvement in the Libor scandal in 2012, opening it up to the claim from Graiseley that the bank miss-sold it products based on rigged Libor rates.
In November 2013 the bank lost its final appeal to prevent Graiseley’s mis-selling case. The appeal had been joined to another by Indian company Unitech Global against Deutsche Bank over the same issue (8 November 2013). The decision marks a watershed moment for small companies sold financial products before the Libor rigging scandal came to light.
Barclays had applied for an appeal after Unitech Global was refused permission to amend its own claim against Deutsche Bank to also include allegations of fraudulent misrepresentation (8 October 2013).
The next stage of the claim will take place in April, when the case management conference will take place.