Maclays’ PEP slides at end of “disappointing” year

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Latest Briefings

The Commercial Agents Regulations: a step behind the times?

By Alex Williamson The Commercial Agents (Council Directive) Regulations 1993 (the Regulations) are 25 years old this year. An evaluation by the European Commission concluded in 2015 that the underlying Commercial Agents Directive (the Directive) still met its objectives and functioned well. However, a recent Court of Appeal decision has shown that the legislation is struggling to […]

Exclusion clauses under the spotlight: UCTA reasonableness

By Perran Jervis In decisions handed down one day apart, the Court of Appeal concluded that a far-reaching exclusion clause which limited liability for negligence was reasonable under the Unfair Contract Terms Act 1977 (UCTA), whereas an exclusion clause in a lease (in the form of a non-reliance clause) was not. The decisions emphasise that […]

Currency, cost calculations and contractual clarity

Walker Morris’ Head of Commercial Dispute Resolution, Gwendoline Davies, highlights the importance of dealing comprehensively and clearly with matters of currency and calculation in cross-border contracts…

Belgian draft Trade Secrets Act: opportunities for the life sciences sector

On 8 June 2016, the EU Trade Secrets Directive was adopted. The main purpose of the Directive was to harmonise and enhance the protection of trade secrets EU-wide and to thus create an innovation-friendly environment for businesses. The EU Member States had to implement this Directive by 9 June 2018. Belgium missed the deadline, but […]

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LG puts 35 per cent PEP hit down to trading conditions

LG has posted a 35 per cent drop in profit per ­equity partner (PEP) for the 2008-09 financial year, with ­equity partners taking home an average of £281,000 – down from £430,000 the previous year. Those at the top end of the equity will take home £510,000, equating to a decrease of £140,000, while partners […]

People Moves

Reynolds Porter Chamberlain (RPC) has hired three new partners. Jonathan Watmough Move of the week Reynolds Porter Chamberlain (RPC) has hired three new partners: Vivien Tyrell arrives as head of insolvency and restructuring from Edwards Angell Palmer & Dodge, where she was a partner; David Wallis joins the ­corporate group from Dechert, where he was […]

CC structured finance partner latest to defect as UK firms face tough time in Italy

Former Clifford Chance Italy co-managing partner Luigi Chessa has left the magic circle firm. It is not yet clear which firm Chessa will be joining, with speculation in the ­Italian legal market ­focusing on whether the high-profile securitisation partner will opt for an ­international or a local firm. One local partner said: “Chessa has a good client […]

A case in point

Having undoubtedly proven itself to be one of the world’s pre-eminent financial centres, the British Virgin Islands are a striking benchmark of the global economic downturn. By Andrew Willins The British Virgin Islands (BVI), with Tortola, the largest of the islands, only 12 miles long and three miles across, is scarcely detectable on an atlas. […]

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Postcard from… Piraeus

It is now 20 years since I first arrived in Piraeus (the Greek port city which for this article is interchangeable with Athens) as a young shipping lawyer. I knew Greece a little from holiday visits and college friends from Greece, but thought I would be staying only 3 pleasant, island-hopping years. Well, I took […]

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