The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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.
Linklaters is being sued for £2.1m by Richard Desmond's Northern & Shell for allegedly acting negligently on the first job it was ever instructed on by the company. In 2000, Linklaters won the high-profile role of advising Desmond on ...
Linklaters is being sued for £2.1m by Richard Desmond's Northern & Shell for allegedly acting negligently on the first job it was ever instructed on by the company.
In 2000, Linklaters won the high-profile role of advising Desmond on his £125m purchase of the Express Newspapers group from United Business Media.
In November 2001, Linklaters sued Northern & Shell for not paying its fees of £1m.
Now Northern & Shell is suing Linklaters for allegedly not advising properly on a tax deed, which the company says forced it to pay an unnecessary £2.1m of corporation tax for the newspapers in the Express stable. The firm says it will be defending the proceedings vigorously.
According to Northern & Shell's High Court claim against the firm, Linklaters led the company to believe the purchase was "cash-free and debt-free" when in reality, because of the corporation tax bill, it was not.
The claim form states: "Linklaters advised Northern & Shell… that the tax deed was in a standard form and was reasonable, fair and consistent for this transaction (being the purchase of a business on a 'cash-free and debt-free' basis by the means of purchase of shares). It was not."
Linklaters won the role on the original deal because Northern & Shell's main corporate adviser, Ashurst Morris Crisp, was conflicted out at the time.
Commerzbank, the company's financial adviser, recommended Linklaters, which put together a 31-strong team under the leadership of a senior assistant (The Lawyer, 27 November 2000).
A Linklaters statement on the case reads: "We can confirm that Northern & Shell has issued proceedings against Linklaters in relation to one aspect of the firm's role in Northern & Shell's acquisition of Express Newspapers in November 2000. We'll be defending these proceedings vigorously."