Affairs of the hearth

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Latest Briefings

Navigating a new reality in the client-empowered era

To thrive in the new era of the empowered client, law firms must make investments designed to modernise the way they run their firms and service their clients. This requires changing culture, developing new competencies, and operationalising new ways of working. Innovative technologies are key enablers to accelerating rms’ transformations in these areas. New research […]

Procurement and state aid update: preparing for 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 […]

Data protection: 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 – CoA

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 […]

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Larry Byrne
1

Links soldiers on in US flatlands

Stagnant US turnover fails to dissuade UK giant from trying to plunder American riches While Linklaters’ global revenue fell by 8 per cent in 2009-10, its US turnover remained flat at around £70m, according to the firm’s US co-managing partner Larry Byrne. The US market has been a ­notoriously tough nut to crack for the […]

Greed is good?

The news reported exclusively today by The Lawyer that the top 30 largest UK law firms saw their total revenue fall by half a billion pounds last year has unleashed a storm of protest on our website. In particular it’s the additional twist that, for many firms, average partner profits rebounded sharply last year. In […]

Stephen Powell

Links and Slaughters advise on Diageo’s liquid pension strategy

Linklaters and ­Slaughter and May and have advised on an innovative deal that will see drinks company Diageo use maturing whisky to help plug its £862m pension deficit. The company turned to longstanding adviser Slaughters on the deal, which will see more than £500m worth of the spirit placed into a pension ­funding vehicle. The firm’s finance deputy […]

David Kerr
1

2Birds posts record turnover, PEP continues to fall

Bird & Bird has broken through the £200m revenue barrier for the first time, posting a total turnover of £201.8m for the 2009-10 financial year. The 10 per cent rise in turnover, up from Bird & Bird’s audited total revenue of £184m in 2008-09, contrasts with the firm’s average profit per equity partner (PEP) figure, […]

Eversheds, Hogan Lovells, Links capture prison PFI instructions

Eversheds, Hogan Lovells and Linklaters have acted on the £415m ­Belmarsh West Prison PFI ahead of Government plans to cut the £4bn prisons budget. The deal, which was signed last week, is the first to be awarded to an alliance of private and voluntary ­sectors. The Serco-led ­consortium, advised by Hogan Lovells, also ­included voluntary organisations Turning Point and Catch22. Construction work on the Category B prison, […]

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