2019/20 financial results live blog: the latest news
Which firms have reported so far?
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Which firms have reported so far?
Judgment may have been handed down months ago in the case of National Bank of Kazakhstan v The Bank of New York Mellon & Ors, but Stewarts and King & Spalding remain locked in a bitter tussle over £3m worth of costs. Stewarts alleges that King & Spalding’s clients, which includes Moldovan businessman Anatolie Stati […]
Debevoise & Plimpton has joined the growing roster of US firms posting double-digit rises in revenue for the 2020 financial year, with the New York-headquartered business reporting an increase in turnover of 17 per cent to $1.22bn. Firmwide average profit per equity partner (PEP) is also up significantly, by 23 per cent to $4.55m. This […]
The Government Legal Department (GLD) spent almost £20m on external law firms and counsel in the second half of the year, The Lawyer can reveal. In a Freedom of Information request, the GLD confirmed that it spent £17.02m on legal spend between May 2020 and December 2020, with a large proportion of its legal spending […]
ICSA and IA respond to corporate reporting consultation.
Employment status cases back in the spotlight.
The first of these changes came into force on 1 September 2020 in The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020. The Use Classes Amendment effectively re-categorises commercial property into one single use class. Simultaneously with the Use Classes Amendment, The Town and Country Planning (General Permitted Development) (England) (Amendment) (No. 3) […]
As the UK continues to tackle the challenges caused by the spread of Coronavirus/COVID-19, Walker Morris continue to receive a number of enquiries from landlord and tenant clients as to how this may affect their property arrangements and obligations.
On 7 February 2021 the government announced £40 million in funding for businesses to help the hard to decarbonise industrial sectors reduce emissions and improve energy efficiency.
Volatile markets and economic downturns typically lead to increases in commercial litigation. Onshore proceedings can commonly involve offshore structures and we anticipate a growth in cases requiring the recognition and enforcement of foreign judgments.
The initial focus following the signing of the Paris Agreement was on the commitments made by governments from around the world to take action to combat climate change. The term climate finance was equated with the financial resources committed by governments for investment in the transition to a climate neutral global economy.
On 19 February 2021, the Supreme Court ruled in favour of workers in the Uber v Aslam case, marking the end of Uber’s landmark employment battle. The decision means that Uber drivers must now be treated as workers rather than as self-employed, entitling them to the employment rights that come alongside that.
The time is right for legal professionals to revisit their use of cloud based speech recognition solutions, to ensure they are using the most productive, cost-efficient, services.
On 11 February 2021, the British Virgin Islands Financial Services Commission published the Financial Services (Prudential and Statistical Returns) (Amendment) Order 2021.
Which firms have reported so far?
Judgment may have been handed down months ago in the case of National Bank of Kazakhstan v The Bank of New York Mellon & Ors, but Stewarts and King & Spalding remain locked in a bitter tussle over £3m worth of costs. Stewarts alleges that King & Spalding’s clients, which includes Moldovan businessman Anatolie Stati […]
Debevoise & Plimpton has joined the growing roster of US firms posting double-digit rises in revenue for the 2020 financial year, with the New York-headquartered business reporting an increase in turnover of 17 per cent to $1.22bn. Firmwide average profit per equity partner (PEP) is also up significantly, by 23 per cent to $4.55m. This […]
The Government Legal Department (GLD) spent almost £20m on external law firms and counsel in the second half of the year, The Lawyer can reveal. In a Freedom of Information request, the GLD confirmed that it spent £17.02m on legal spend between May 2020 and December 2020, with a large proportion of its legal spending […]
Linklaters and Clifford Chance have reached decisions on their upcoming partnership conferences, as the protracted disruption brought by new lockdowns forced them to once again alter plans. Linklaters has scrapped plans to hold its partnership conference in person. The magic circle firm was meant to host an event in a Berlin hotel, benefitting from the […]
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With the arrival of the Akin Gump team, A&O’s US bench has doubled at a stroke.
Calls for reform of the CMA will be music to the ears of claimant litigators.
If Latham’s growth rate continues unabated, its future home could end up offering proportionately less space per staff member.
DMH Stallard has reached critical mass size – but it now has more work to do to secure its future.
Fans of celebrity showdowns will be denied their thrills this year following the Duchess of Sussex’s successful application for summary judgment against Associated Newspapers, but the Daily Mail’s favourite law firm still has a full pipeline for 2021. Over the last few years RPC partner Keith Mathieson has also fastened his grip on defence work […]
Bevan Brittan has handed out a 3 per cent pay rise to all its employees alongside an additional 3 per cent ‘thank-you bonus’ to be applied to the last six months and paid now. The firm had previously postponed its September 2020 annual pay review due to uncertain economic conditions caused by the Covid-19 pandemic. […]
Ropes & Gray has added a new partner to its funds team, in the same week it also launched a European life sciences group with a recruit from Arnold & Porter. Emily Brown is the latest funds joiner from Schulte Roth & Zabel. She has been at Schulte’s London office for over two years and […]
Linklaters has rolled out a platform to change the way its secretarial function operates in light of new working practices introduced during the pandemic. The magic circle firm has bought a third-party platform, called Service Now, to ensure better work allocation across its secretarial pool. With the prospect of a hybrid model split between remote […]
Covington & Burling’s London revenue increased by 12 per cent last year, as global turnover also saw double-digit growth. This is after the firm’s City growth was static in 2019, decreasing by 0.1 per cent. In 2020, the firm’s revenue in its London offering leapt to $113.6m from $101.2m. In 2015, the firm’s London turnover […]
Reed Smith, Allen & Overy and Freshfields Bruckhaus Deringer have acted on Daily Mail and General Trust’s (DMGT) £70m acquisition of New Scientist. DMGT instructed co-chair of Reed Smith’s global corporate group Delphine Currie on the purchase, alongside senior associate Daryl Cue and client relationship partner Lawrence Radley. The Daily Mail publisher picked up the […]
Simmons & Simmons has introduced a long-term working policy inspired by the changes brought about by the pandemic. The firm will introduce a hybrid working system that allows employees to work up to two to three days per week from home when restrictions are lifted, as agreed with line managers. Over the coming months, country […]