Down this road before: State bars fiercely oppose ABA’s US innovation push

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Down this road before: State bars fiercely oppose ABA’s US innovation push

The American Bar Association (ABA) suggested yesterday (17 February) that American states consider ‘innovative approaches to the access to justice crisis’ before quickly facing resistance from influential state bars strongly opposed to alternative business structures (ABSs). The recommendation came through a resolution proposed before a meeting of the ABA’s biannual ruling House of Delegates in …

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HSF’s accounts show revenue hit £447m amid a 23% profit hike and a sharp fall in debt

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HSF’s accounts show revenue hit £447m amid a 23% profit hike and a sharp fall in debt

Herbert Smith Freehills (HSF) has increased profit and turnover, its latest LLP accounts reveal, while also bolstering its borrowing capacity and significantly reducing debt. HSF increased revenue 6% to £447m in 2018/19 as operating profit at the Anglo-Australian giant increased 23% to £127.5m. The firm has also bolstered its borrowing capacity following the implementation of …

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The vision thing – Sizing up the big issues set to shape law through the 2020s

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The vision thing – Sizing up the big issues set to shape law through the 2020s

The last decade emerged with the shockwaves of the banking crisis still making themselves felt on the profession. Having just made a series of job cuts in major markets the like of which had never been seen in the legal industry, the mood was infused by uncertainty, the brutal realities of austerity and the sudden …

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‘Our first big move’: Bryan Cave Leighton Paisner gets Paris play over the line

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‘Our first big move’: Bryan Cave Leighton Paisner gets Paris play over the line

Real estate leader taps Franklin for eight partners with more to come in France ‘It’s great to get to the moment where our first big move has happened.’ Lisa Mayhew, Bryan Cave Leighton Paisner Since the 2018 tie-up between Berwin Leighton Paisner (BLP) and Bryan Cave, the merged entity of Bryan Cave Leighton Paisner (BCLP) …

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Legal tech focus: Joined-up thinking

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Legal tech focus: Joined-up thinking

With cash flowing freely into legal tech and start-ups scaling, the market is looking increasingly mature. But while bold claims have been made of the disruption start-ups will supposedly trigger in legal, the response from established providers has been a robust acquisition strategy, which could see fledgling companies struggle to compete. ‘Certainly there’s been consolidation …

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Quinn breaks £100m City revenue barrier as King & Spalding hikes London revenue 15%

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Quinn breaks £100m City revenue barrier as King & Spalding hikes London revenue 15%

Disputes heavyweight Quinn Emanuel Urquhart & Sullivan has continued its impressive growth in the City, with revenue at the firm’s London office increasing 20% to £100.6m. The US-bred firm also saw profits rise 11% to £67.2m, putting the office’s profit margin at 66.7%. The results cement Quinn’s place as ‘unquestionably the market leader in litigation-only …

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‘Deeply upset’: Law Society’s historic HQ suffers damage after outbreak of major fire

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‘Deeply upset’: Law Society’s historic HQ suffers damage after outbreak of major fire

Firefighters were called out to The Law Society’s headquarters over the weekend after a major fire broke out, damaging the historic building late on Saturday, 1 February. The fire was brought under control early on Sunday, with no injuries sustained as a result. The alarm was sounded on Saturday night after the annual Junior Society …

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MoFo ups City revenue an impressive 25% as US reporting season begins

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MoFo ups City revenue an impressive 25% as US reporting season begins

Morrison & Foerster (MoFo)’s City revenue has lifted 25% for a third consecutive year, outpacing a strong global showing and kicking off US reporting season with a showing of expansive City growth. The firm’s revenue increase to £38.6m comes amid a 10% global increase in the last fiscal year, from $1.04bn to $1.15bn. Meanwhile, revenue per …

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DWF continues global expansion with £14.2m managed services play

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DWF continues global expansion with £14.2m managed services play

DWF has continued its expansionist strategy following last year’s initial public offering (IPO), dipping into its war chest to acquire managed services company Mindcrest in a £14.2m deal announced today (29 January). Chicago-based Mindcrest offers managed services across contract management, compliance, legal analytics, litigation and investigations for international corporates. The majority of the business’s staff are …

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Lawyers rank top for satisfaction, value for money, but access to justice gaps persist

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Lawyers rank top for satisfaction, value for money, but access to justice gaps persist

Solicitors in England and Wales received a glowing review in a new survey of legal needs but evidence of gaps in access to justice shows the profession has a perception problem. The survey – the largest legal needs survey of its kind – was conducted by the Legal Services Board and Law Society using data …

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