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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.
A number of City firms are muscling in on Linklaters’ relationship with Credit Suisse after the investment bank launched legal action against the firm.
Credit Suisse is preparing a professional negligence claim for e136m (£115.2m) over Linklaters’ advice to Credit Suisse in 2001 on a e500m structured finance deal with Parmalat (The Lawyer.com, 11 February).
Herbert Smith won a number of mandates from the bank recently, including a €3.4bn capital-raising for Bank of Ireland and Prudential’s e21bn rights issue.
A senior partner at a top 10 firm said that, although his firm would never usually get near Credit Suisse, it has recently made a number of pitches to the bank.
Credit Suisse last month sent a letter before action to Linklaters through Allen & Overy (A&O) (11 February 2011). The claim concerns money recovered from the bank in 2003 by Parmalat’s administrators. The money was originally paid to Credit Suisse in a forward-sale agreement at the time of the 2001 deal.
The bank claims that Linklaters capital markets partner Simon Firth did not acknowledge the risk posed by the possibility of Parmalat going into administration.
A&O litigation partner John O’Conor is thought to be acting for Credit Suisse, which is also being advised by Brick Court Chambers’ Jonathan Sumption QC, Mark Howard QC and Tom Adam QC. Clyde & Co is acting for Linklaters, which declined to comment.