A curiosity over the past couple of years has been the increase in the number of Russian oligarchs bringing legal proceedings in the UK.
The official reason is that many oligarchs have interests in the UK, and so it is natural that they would litigate here.
There is an unofficial and more enlightening reason, though. According to one magic circle partner, the number of writs filed in the High Court is a status symbol for the rich Russians.
“The more proceedings that are issued in the High Court, the more kudos and status an oligarch has,” whispers the partner. “For the past couple of months, if you have a look over writs issued, there’s been a slight drop, but that’s because the oligarchs are looking to stay below the radar while the Russian political climate sorts itself out.
“Guaranteed, once it has the numbers of proceedings will shoot up again.”
Which rather begs the question: which firm will be first to launch an oligarch-dedicated practice (apart from Manches, that is)?