In a stinging blow to the government’s controversial and widely condemned plans to overhaul criminal legal aid, the High Court ruled on Friday (19 September) that the Lord Chancellor Chris Grayling acted ‘unlawfully’ over his failure to disclose the contents of two key reports during the consultation process.
Accountancy giant Deloitte has recorded reduced fee income for the top 10 UK law firms in the first quarter of 2014/15, with a 2.7% fall as a result of a 2.1% decrease in fee earner headcount alongside a decline in sterling rates as a consequence of the strong pound.
In a decision that is sure to generate mixed reaction within the market, the Solicitors Regulation Authority approved measures yesterday [17 September] to progress its plans for regulatory reform, and voted to make it easier for multi-disciplinary practices (MDPs) to provide legal services under its regulation.
LB 100 firm Watson Farley & Williams has launched its first office in the Middle East with asset finance partner partner Andrew Baird leading the way to establish a base in Dubai.
Allen & Overy (A&O), Clifford Chance and CMS Cameron McKenna have all landed key roles advising on the administration of high street retailer Phones4u.
Global 100 firm Dentons has made a key strategic hire to enhance its offering in Latin America and the Caribbean, appointing the Inter-American Development Bank (IADB) general counsel (GC), Jorge Alers, to be chief executive officer for the region.
US firm Cadwalader, Wickersham & Taft has made a key hire to its global capital markets practice with Ashurst partner David Quirolo, as the New York-headquartered firm continues its efforts to rebuild its London finance team.
UK firm Stephenson Harwood has closed its office in Guangzhou as the firm reviews its strategy in China, while Hogan Lovells has continued to bolster its Asia offering with another lateral hire, as Paul Hastings’ Tokyo project finance head Joe Kim joining the firm.
Allen & Overy (A&O), Travers Smith and Pinsent Masons have all secured leading roles advising on Lloyds Banking Group’s £400m sale of Doncaster-based homebuilder Keepmoat to private equity houses Sun Capital and TDR Capital, as the part-nationalised lender continues to dispose of its non-core assets.
Iberian leader Uría Menéndez has elevated its offering in Latin America and acquired a 30% stake in the merger of its best friend firms and national heavyweights, Philippi and Prietocarrizosa, in a union the firm says is a ‘major milestone’ in its international strategy to consolidate its commitment in the region.
