Perkins Coie is designing a training contract that aims to harness the flexibility of the Solicitors Qualifying Examination (SQE) and take up to a year off the traditional training contract route. The launch of a legal trainee programme in London is understood to have been signed off by the US firm and will be finalised […]
$20m partners are rare, but they are multiplying. Paul Weiss, Kirkland, Davis Polk, Weil Gotshal and latterly Latham are reshaping their partner compensation for the big figure, stretched upwards from the $9m that Paul Weiss paid for Scott Barshay in 2016. As The Lawyer reported yesterday, even Cleary – Cleary! – is now considering it. […]
The North East Procurement Organisation (NEPO) has drastically reduced its legal services panel, cutting 17 firms from its £100m roster. The new panel – effective from 3 June 2024 to 2 June 2028 – features 18 firms, down from the previous 29. New additions to the panel include Bird & Bird, Brodies, Devonshires, TLT and […]
Macfarlanes has increased its pay for newly-qualified solicitors by £25,000, as UK firms respond to rates set by the magic circle last month. The City firm has upped pay for NQs from £115,000 to £140,000, a rise of nearly 22 per cent. This heaps pressure on firms that include Slaughter and May on £125,000 and […]
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London: Lincoln’s Inn firm Hunters Law has rebounded in the 2023/24 financial year, posting a 10.2 per cent revenue rise, from £12.7m to £14m. The firm had flatlined for several years, dancing between £12.1m at the lower end to £12.7m at the higher end for the previous five financial years. Last year, however, the firm’s […]
Pinsent Masons is acting for England’s largest winemaker on a potential sale that could see the company de-list from the alternative investment market (AIM) less than a year after its float. Chapel Down Group, the official English sparkling wine sponsor of Ascot Racecourse, is conducting a strategic review of its funding options including a potential […]
Browne Jacobson finance head Paul Ray is contesting Lichfield for the Liberal Democrats against Michael Fabricant. We asked him for his views on law and politics
Stephenson Harwood’s revenue jumped by 16 per cent over 2023/24 to a record high figure of £264.2m. Alongside the revenue increase, the firm also saw a 10 per cent increase in net profit from £82.4m to more than £90m. The firm’s average profit per equity partner rose by 7 per cent from £725,000 to £775,000. […]
Coldplay has settled its multimillion-pound dispute with former manager David Holmes, The Lawyer can reveal. Holmes, who managed the band for 17 years from 2005 to 2022, initially sued band members Chris Martin, Will Champion, Jonny Buckland and Guy Berryman for £10m in August last year. Engaging Bird & Bird’s London office head Phil Sherrell, […]
The Jesus and Mary Chain and King Crimson file against rights management company One of the largest rights management companies in the UK, Performing Right Society (PRS), has been hit with a new competition claim filed on 20 June. The part 7 claim has been brought by smaller management company PACE Rights Management alongside members […]
The Holy See appears in the English courts for the first time The Vatican, Harrods, a mafia-hunting judge, and an alleged multimillion-pound fraud feature in this case. This Commercial Court dispute, starting Wednesday (26 June) for 14 days, sees the Holy See (the Catholic Church’s universal government) square off against management companies Athena Capital, WRM […]
The administrators of collapsed firm Axiom Ince are set to receive £3.3m after an order from the High Court on 12 June. Two companies owned by former Axiom Ince boss Pragnesh Modhwadia and his brother Uttam Modhwadia – Brockley Hill Ltd and Narya SVP No 4 Ltd – went into liquidation and administration respectively in […]
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