It’s been quite a week for Jones Day’s London litigation team.
First the firm – partly powered by the growth of its London disputes team – ranks in the top five of our annual Global Litigation Top 50. As you’ll surely know by now – and if not, why not? – the focus this year is on alternative fee arrangements (AFAs).
Jones Day also looks to be scoring highly in this department, blazing a trail for damages-based agreements (DBAs) and becoming one of the few major firms to offer the since new regulations came into force in the UK earlier this year.
But the crowning glory is its slam-dunk victory over Clifford Chance (CC) in the Excalibur litigation, a case that featured AFAs prominently in the form of third-party funding and one that came back to bite the funder precisely where it hurts most: the pocket.
Cue champers at Jones Day, glum faces at CC.
AFAs may well be the way to go in big-ticket litigation, but this case highlights the dangers of getting it badly wrong.
Also on TheLawyer.com:
- Debevoise hits HSF for second litigation partnerTony Dymond
- Eversheds elects Paul Smithas chairman as Heaps stands down
- HMRC salaried partner tax proposals slammedahead of 6 April deadline
- KWMSJB opens first post-merger office in Riyadh