Charles Russell moots four-day week to stave off redundancies

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Latest Briefings

Future of public procurement in UK in the event of ‘no-deal’ Brexit

By David Kilduff, Richard Auton or Richard Butterworth On 13 September 2018, the UK government published further guidance on the future of public procurement in the UK in the event of a “no deal” Brexit. What next for UK public procurement? Under current rules, all procurement opportunities that fall within the scope of the EU procurement […]

Third party redevelopment – Landlord may oppose tenant’s lease renewal

By Matthew Lonergan, Lucy Shepherd A recent case has confirmed that a landlord was entitled to oppose its tenant’s lease renewal under the Landlord and Tenant Act 1954 where redevelopment of the site was to be undertaken by a third party. Background The case of Santander UK PLC v LPS Estates Ltd concerned the security of […]

Sunset of £500K, dawn of GDPR enforcement and horizon of Brexit

By JP Buckley In just a short space of time, the ever-evolving world of data protection and cyber has seen yet more change: 1. Potentially one of the last enforcement actions under the Data Protection Act 1998 against Equifax – and a maximum £500,000 fine for them for failing to secure UK citizens’ personal data against […]

Officer of judgment debtor can be committed for failure to provide information under CPR 71 – Court of Appeal

Deutsche Bank AG v Mr Alexander Vik [2018] EWCA Civ 2011 This judgment is the latest instalment in the long-running litigation between Deutsche Bank (“DB”) and the Monaco-based billionaire, Alexander Vik. In 2008, Mr Vik’s personal investment vehicle, Sebastian Holdings, Inc. (“SHI”), incurred huge debts to DB after it made a series of heavily loss […]

BVI to implement changes to rules governing SPCs registered under BCA

By Michael Killourhy The British Virgin Islands (BVI) will shortly implement some important changes to the rules governing segregated portfolio companies (SPCs) incorporated or registered under the BVI Business Companies Act, 2004 (BCA). These changes, introduced by the BVI Business Companies (Amendment) Act, 2018 (the 2018 BCA Amendment Act) will come into force on 1 October […]

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Akin Gump loses 10 lawyers to Greenberg

Greenberg Traurig has snared a three-partner, seven-associate team from Akin Gump Strauss Hauer & Feld in Texas. Greenberg Traurig has hired a three-partner, seven-associate team from Akin Gump Strauss Hauer & Feld in Texas. Former head of securities litigation Paul Bessette and partners Micheal Biles and Jesse Weiss have joined the firm’s Austin office. Seven […]

8

Magic circle trainees kept on despite recession

Magic circle firms are continuing to take on a high proportion of trainees despite the economic turmoil and redundancies, The Lawyer can reveal. Linklaters, which was revealed last week to be trimming its partnership by up to 70 (see story), is set to keep on 84 per cent of trainee solicitors due to qualify in March, […]

Dechert adds Bear in-houser to New York corporate

Dechert has hired a former senior Bear Stearns in-house lawyer to bulk up its corporate and securities group. Former in-house lawyer and managing director at Bear Ken Masotti has joined Dechert’s New York office as counsel in the corporate and securities group. Dechert head of corporate finance Henry Nassau said: “[Ken’s] experience advising on a […]

6

A&O bucks City trend with plan to hike fees

Smaller clients set to suffer as firm forges ahead with strategy to focus on most active relationships. Allen & Overy (A&O) is going against City trends by planning to increase its London billing rates in a bid to cover escalating costs and maintain profit. The discussions about increasing charge-out rates are taking place as major […]

Sonnenschein: revenue up, profits down

Sonnenschein, Nath & Rosenthal posted a slight increase in gross revenue last year but saw its average profits tumble more than 12 per cent. The Chicago-headquartered firm’s turnover rose to $492m last year, an increase of 2.9 per cent. Average profit per equity partner fell just over 12 per cent to $804,000. Last summer, Sonnenschein […]

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