Shares in RBG plummet following trading update December 6, 2022 Shares in RBG Holdings recovered slightly today after plummeting on Monday following news it has taken a £4m hit to its balance sheet. In a trading update, the London listed professional services firm told investors it’s litigation funding subsidiary LionFish has lost two legal cases over the previous year RBG said LionFish will take a [...]
Clifford Chance elects new chief to replace incumbent after just one term December 6, 2022 Partners at Clifford Chance today elected capital markets chief Adrian Cartwright as the law firm’s new top-ranking partner, in overthrowing the firm’s current chief after just one term. Clifford Chance’s global head of capital markets, Adrian Cartwright, won a three-way election to take over leadership of the Magic Circle firm. Cartwright will succeed ESG [...]
Solicitors Disciplinary Tribunal chief steps down following office lease fiasco December 5, 2022 The head of the Solicitors Disciplinary Tribunal (SDT) has stepped down from her position following news the tribunal is being forced to exit its offices. SDT chief executive Geraldine Newbold’s exit follows news solicitors will be forced to pay an extra £1.2m towards the tribunal’s new premises after its landlord decided to sell the building [...]
UK’s new flexible working laws still give employers right to reject requests, employment lawyers say December 5, 2022 New rules aimed at boosting uptake of flexible working arrangements still give employers’ significant discretion to reject those requests, lawyers have told City A.M. New laws aimed at increasing flexibility in the workplace, by giving low paid workers the legal right to ask for a more flexible arrangement and letting all staff ask for flexible [...]
Glencore to pay £147m over Democratic Republic of Congo corruption claims December 5, 2022 Glencore has agreed to pay $180m (£147m) to the Democratic Republic of Congo (DRC) to settle “all present and future” lawsuits arising from the large-scale international bribery scandal currently facing the firm. In a statement, Glencore said the $180m deal acts to settle any existing or future claims relating to the corruption allegations surrounding [...]
Legal sector talent war drives boom in London office market December 5, 2022 Britain’s top law firms are driving a surge in demand for City office buildings in their efforts to win over talent and meet their ESG goals. Law firms have taken up a record 1.5m square foot of office space in 2022, following a series of big deals involving Britain’s top firms, data from Knight Frank [...]
Linklaters cashes in on UK push to bolster naval fleet December 4, 2022 Magic Circle law firm Linklaters is cashing in on the Royal Navy’s push to bolster its fleet with the purchase of five new battleships from British arms manufacturer BAE. The City law firm is advising the UK’s Ministry of Defence (MoD) as it pushes forwards with the purchase of five new battleships from BAE Systems [...]
Art dealer’s sale of aristocrat’s French masterpiece was not negligent, court rules December 4, 2022 A London art dealer who advised a British aristocrat to sell an 18th century French masterpiece for a fraction of its actual worth did not act negligently, a court has ruled. The court ruled in favour of Simon Dickinson after Amanda Fielding, Countess of Wemyss and March, sued the art dealer over claims he [...]
KPMG to bolster legal services offering through deal with Zico Law December 1, 2022 KPMG has struck a deal to incorporate one of South East Asia’s biggest law firms, Zico Law, into its global partnership. The deal will see Zico Law’s more than 275 lawyers join KPMG’s 2,900-strong legal team. The merger is set to expand KPMG’s footprint in the Asia Pacific region, by extending its legal services offerings [...]
Criminal solicitors ‘highly unlikely’ to make ‘reasonable’ living, Law Society warns December 1, 2022 The UK government’s refusal to hike criminal solicitor’s legal aid fees by 15 per cent means it is “highly unlikely” those lawyers coming into the job will be able to make a “reasonable” income from their work, the Law Society has warned. Law Society president Lubna Shuja said justice secretary Dominic Raab’s refusal to increase [...]