The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
The lawyer acting for Barings preference shareholders is intending to object in court to the settlement that was hammered out by the City Disputes Panel (CPD) last week.
The CPD aims to settle litigation between three groups of bondholders and give payouts of varying proportions to each group. But it provides nothing for the 1,500 preference shareholders, whose investment in Barings totalled over £50m.
Their lawyer, Dominic Hopkins, of Hewitson Becke + Shaw, said that because his clients had not been litigating, the CPD never invited them to participate in the conciliation process. He said shareholders only learnt of the conciliation through press reports and that it was only after the chair of the preference shareholders' action group met the liquidator, Ernst & Young, last spring, that they were kept informed of the progress of the conciliation.
Last November, the liquidator applied to the Vice-Chancellor, Sir Richard Scott, for leave to implement the settlement but, Hopkins said, the preference shareholders successfully argued that their interests should be taken into account in the settlement.
If all three groups of bondholders vote to accept the plan, the liquidator must come back to the court to sanction it.