US law firms struggling to displace UK elite in FTSE boardrooms September 18, 2019 Despite the march of US law firms on the City legal market, new data published today shows their UK rivals still dominate the boardrooms of British bluechips. US law firms have invested heavily in London in the last decade, taking prized partners from the domestic elite. Firms such as Kirkland & Ellis and Weil Gotshal [...]
Real lives will be ruined by the delay to the laws dropped with the prorogation of parliament September 17, 2019 The prorogation of parliament has been variously cast as an attempted coup or a smart move in delivering the referendum mandate. Either way, many among both the fans and the critics have overlooked the impact that the end of a parliamentary term can have on real people. For when parliament is prorogued, dissolved or dismissed, [...]
Shares in law firm Rosenblatt rise at it buys M&A boutique September 16, 2019 Shares in listed London law firm Rosenblatt rose today after it announced the acquisition of Manchester corporate finance boutique Convex Capital. Convex is a sell-side M&A corporate finance boutique which focuses on helping smaller companies in sales to large corporates. Read more: Rosenblatt launches litigation fund post-stock market float Rosenblatt said the deal was in [...]
PwC partner profits jump to £765,000 despite criticism for poor quality of audit work September 16, 2019 Partner profits at PwC UK increased 7.4 per cent to £765,000 this year, despite the firm receiving a dressing down from the regulator for the decline in the quality of its audit work. Profit for the year to 30 June increased to £1.016bn, up from £935m the previous year. Revenue leapt 12 per cent to [...]
Senior KPMG restructuring partners set for 25 per cent pay rise to stave-off break up September 15, 2019 Senior partners in KPMG’s restructuring division have received a 25 per cent pay rise as the accountancy giant tries to prevent a potential break-up, it was reported this weekend. The Big Four accountancy firm, which has been involved in high-profile business failures, including the collapse of outsourcer Carillion in January 2018, had been holding talks [...]
Audit bigwigs say lack of timetable for reform of troubled regulator is ‘a concern’ September 11, 2019 The heads of two leading audit bodies have expressed concern about perceived government inaction on the reform of the troubled accountancy regulator. Chief executive of the Institute of Chartered Accountants in England and Wales, Michael Izza, said slow progress on the reform of the Financial Regulatory Council (FRC) “is something of a concern”. Ian Peters, [...]
UK litigation funder Augusta raises $115m from US investment manager September 11, 2019 The UK’s largest litigation funder by case volume Augusta said today it had raised $115m (£93m) from an unnamed US investment manager. Managing director Louis Young said: “This development is a strong endorsement of the litigation funding industry and in particular, our market-leading experienced team”. Litigation funders back individual legal cases or portfolios of cases [...]
What a con: Four common tactics used to scam pension savers September 11, 2019 The impact of pension fraud can be devastating, with victims losing an average of £82,000 last year. Even those of us who are savvy with our money can end up falling victim to fraud. In fact, it is estimated that five million pension savers in the UK are at risk, with 42 per cent of [...]
Burford Capital rebuffs news of possible ‘revenge porn’ law suit September 10, 2019 Litigation funder Burford Capital has hit back after reports it could be facing a private prosecution for an alleged breach of England’s “revenge porn” laws, in the latest development in an ongoing legal battle on both sides of the Atlantic. It was alleged in a High Court lawsuit last month that Burford executive Daniel Hall [...]
Litigation Capital Management bosses say Burford woes will not dampen sector September 10, 2019 The management of litigation funder Litigation Capital Management (LCM) said today that the negativity around fellow funder Burford Capital would not dampen the sector, as they announced their debut London results to the stock market. Last month Aim-listed Burford was savaged in an attack by shortseller Muddy Waters which criticised its governance and its use [...]