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Risk management and professional indemnity survey 2013: Same Old Fears

Despite renewed focus on outcomes-focused regulation, IT security and conflicts remain the key threats keeping risk teams awake at night. This section of the report analyses the likely impact of various risk scenarios on law firms and the likelihood of those situations occurring. Typically those situations that potentially have the most serious impact on a …

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Risk management and professional indemnity survey 2013: Getting it Right

Following successive years of regulatory change, including the introduction of outcomes-focused regulation, COLPs and COFAs, risk teams are now in a phase of assimilating those changes. Legal Business tracks progress so far After five years of reporting on the torrent of regulatory change that has swept through law firms, this year’s Legal Business/Marsh risk management …

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Barclays begins search for new general counsel

Barclays, one of the UK’s largest banks, has started its hunt for a new general counsel (GC) following the retirement of Mark Harding. Harding’s decision to step down was announced in early February and comes after ten years at the bank. In a statement, the bank’s chief executive Antony Jenkins said that the rationale behind …

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DWF looks to acquire a stricken Cobbetts in pre-pack deal

DWF is set to acquire Cobbetts in a pre-pack deal, after the struggling Manchester-based firm called in administrators KPMG last month. The top 40 UK firm announced its intentions to acquire Cobbetts almost a year after merger attempts by the two firms failed. At the time, a joint statement said talks had finished because of …

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Insolvency teams line up on high-profile failures

With HMV, Jessops and Blockbuster all entering into administration in the first few weeks of 2013, leading City firms have scored significant instructions. Linklaters is involved in the administration of HMV, with restructuring and insolvency partners Richard Hodgson and Richard Bussell taking the lead. Linklaters had also been advising the lenders, The Royal Bank of …

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Latest US profits show positive early signs

The initial numbers to emerge from the US reporting season indicate a relatively resilient performance in 2012 for the world’s largest legal market. A series of firms have so far posted headline financial results, including Latham & Watkins, Quinn Emanuel Urquhart & Sullivan and White & Case, with the majority achieving growth in profits and …

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Freshfields to provide scholarships for aspiring black lawyers

Freshfields Bruckhaus Deringer is launching a scholarship with the Stephen Lawrence Charitable Trust (SLCT) to help students from black and ethnic minorities gain access to the profession. The scholarship will allow four successful male candidates committed to pursuing a career in the legal profession to receive a £3,500 annual contribution towards living expenses, as well …

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Dundas departures reflect pressure on Scots firms

Dundas & Wilson has confirmed the departure of three more partners from the firm’s London arm. Corporate partners Julian Mathews and Simon Sale, along with banking and finance partner Michael Wrigley, have decided to leave the Scots leader, which has faced a difficult few years by any yardstick. These moves, which were confirmed in February, …

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Leverage starts to resurface in dormant market

Liberty Global’s $23.3bn acquisition of Virgin Media and Dell’s proposed $24.4bn leveraged buyout have deal finance advisers asking whether this is a signal that leveraged buyout deals are making a comeback. The pair of mega deals were announced last month within weeks of each other and have handed roles to a raft of advisers on …

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