28 July 2003

Flexible mend

Market leaders Visa and MasterCard have been kicked into touch in the US for their anticompetitive behaviour. Could the same thing happen in the UK? asks Lloyd Constantine As UK consumers confront persistent credit card interest rates of double-digit proportions, occurring at a time when all other benchmark interest rates are steadily declining, the recent […]

as Linklaters’ pay hike pulls in New York team

Linklaters has circumvented the problem of attracting New York partners to a lockstep firm after reporting an upswing in plateau partner profits to £910,000.The increase at the top of equity, from £850,000 in the last financial year, arrives as Linklaters has taken on three litigation partners and an associate from Shearman & Sterling’s New York […]

CC withholds profits to avert cash crisis

July partner distributions shelved as profits drop; firm to borrow another £50m Clifford Chance has moved to head off a cash crisis as it informs partners that it will not be paying their July profits distribution in order to comply with loan covenants. The move comes as it raises its borrowing limits by an extra […]

A&O is king of the hill for plateau partners…

Allen & Overy (A&O) plateau partners are the richest in the City, with profits of £1.05m – overtaking Slaughter and May for the first time.A&O’s figures are skewed by its exceptionally long 15-year lockstep, but the firm still posted a slight decline in its average profits per equity partner this year of £675,000 – down […]

Plexus Law to set up rent-a-lawyer scheme for supermarkets

Niche insurance firm Plexus Law is set to cash in on Lord Falconer’s recent decision to let supermarkets provide legal advice to their customers by renting them its lawyers.The firm is in discussions with high street retailers such as Tesco to provide them with lawyers to advise their customers directly, following the new constitutional affairs […]

See no evil

Our friends at Graham Gill have just conducted a survey of 20 randomly-selected partners from the top 20 firms in The Lawyer 100. The survey asked the partners a fair question: had they seen their managing partner in the past week?Of the respondents, 76 per cent said they had, although at least one fifth of […]

Tax(idermy) perhaps?

One of Tulkinghorn’s scribes was trying to track down an elusive tax lawyer at PricewaterhouseCoopers-affiliated law firm Landwell recently.Having typed ‘www.landwell. com’ in to his computer, he was confronted with the intriguing question: “What’s Booby Bird?”There appeared to be very few answers on the website, but the scribe’s interest was piqued, while his interest in tax […]

Net profiting

Netball is back big time. Forget footy – the all-time favourite girls’ school sport was given a boost last week by Blake Lapthorn Linnell, which won what it called “an important regional tournament”.Blake Lapthorn’s team, sporting the suitably retro tag Blake’s Seven, emerged victorious from its battles against several other local firms. The team was […]

Victoria’s secret Separated at birth

Superheroes have never been more popular. Spidey swung his way to all-time box office records recently, while the X-Men, the Hulk and Ben Afleck’s leather-clad Daredevil have all enjoyed recent outings. There is still only one Superman though – but it appears there are two Clark Kents. Moonlighting as a partner at niche construction firm […]

Mad Mancs

The legal profession is not normally a laugh-a-minute, so Tulkinghorn would like to extend his gratitude to Manchester firm Pannone & Partners, which has done a great deal to cheer him up with its – frankly – bonkers new website.If your day is getting dull, go to the partner biographies on the site. After each […]

Bully boys

They might not look it here, but these boys are dangerous. Weil Gotshal & Manges emerged victorious from the fifth annual The Lawyer.com’s Legalfives football competition. The US firm’s football representatives were less than popular winners, however. Albeit a talented team, their bruising style was greeted with a chorus of boos as they bullied their […]

Scotch – not to be missed

Tulkinghorn and his hacks on The Lawyer do occasionally enjoy the odd drop of the uisge beatha, so imagine their excitement when they stumbled (literally) across the Scotch Malt Whisky Society. Proving their… er… ‘thirst for knowledge’, the craic team was were treated to an informative briefing, a comprehensive tasting session – and a tour […]

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