•The Lord Chancellor and Secretary of State for Justice Lord Falconer has announced that work has begun on the new Supreme Court. The building is expected to open for business in October 2009, with renovation work to be conducted by the Kier Group. The estimated cost of establishing the new Supreme Court, which is on the Middlesex Guildhall site, has been placed at £56.9m. This consists of £36.7m in renovation costs, which is to be paid for by an annual lease charge of £2.1m over a 30-year period. While this amount is within the original estimates for the project, an additional £20.2m estimate has been placed to cover professional adviser fees, programme team costs, furniture, IT services and library costs. The renovated building will house the nation’s highest court and the Judicial Committee of the Privy Council.
Herbies secures Lehman lawyer #Herbert Smith has hired a senior lawyer from Lehman Brothers as a non-contentious regulatory specialist for the firm’s financial services regulatory (FSR) practice. Lehman’s current European regulatory counsel Patrick Buckingham is slated to join the Herbert Smith team in September this year and will be reporting to FSR practice head Martyn Hopper. Buckingham is a noted specialist in the Markets in FinancialInstruments Directive (Mifid), which comes into effect on 1 November. He will advise on regulatory issues arising from corporate and finance transactions and compliance and risk management for financial institutions.