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.
US firm Kirkpatrick & Lockhart has written a sensational report that paves the way for WorldCom to sue its auditors KPMG.
The report says KPMG gave improper tax advice to WorldCom, which will result in the bankrupt telecoms company repaying hundreds of millions of pounds in taxes, penalties and interest.
It could also land KPMG in hot water with the Securities and Exchange Commission, which is investigating whether this conduct raises auditor independence issues.
KPMG will fight to clear its name. “The examiner’s conclusions are simply wrong. Independent reviews of the tax position taken by WorldCom conclude that it’s fully supported by the tax laws,” it said in a statement.
Kirkpatrick partner Michael Missal wrote the report for the bankruptcy court on the recommendation of the Department of Justice.
KPMG has appointed niche Washington DC firm Zoorhees & Satyr to defend it. Paul Curnin of Simpson Thacher & Bartlett is advising WorldCom on litigation and corporate governance issues.