EY avoids judgment in £2bn case as Alvarez & Marsal reach ‘confidential agreement’ February 2, 2026 The mammoth legal fight against the Big Four giant EY over its auditing of a former London-listed health giant that collapsed amid fraud allegations has been withdrawn following a settlement. Private hospital operator NMC Health Plc collapsed in April 2020 after being placed into administration, and was delisted from the London Stock Exchange in the [...]
Chair of elite law firm Paul Weiss made personal requests to Jeffrey Epstein February 2, 2026 The chairman of one of the most prominent law firms in America, Paul Weiss, was included in the US Department of Justice’s latest round of bombshell revelations in relation to disgraced financier Jeffrey Epstein. One of the US’s leading litigators and corporate advisers, Brad Karp has been Paul Weiss’s chairman since 2008. Paul Weiss is [...]
Law firms, legal tech, and the branding battle royale January 29, 2026 It seems like every week brings a new AI player on the scene, but now there’s a trend of legal spats over what exactly to call them. AI-focused businesses have been popping up everywhere as demand for the tech surges. According to LawtechUK’s data, the number of UK-founded lawtech companies on its tracker climbed from [...]
Professional services firms facing ‘polycrisis of confidence’ January 28, 2026 A major study of C-suite attitudes among professional services firms has revealed a complicated landscape of increasing AI use, growth fears, worries about cash flow and concerns over staff motivation. According to the Managing Partners Forum Winter 2025 Quarterly, shared exclusively with City AM, all firms surveyed have integrated Gen AI into their daily operations, but [...]
UK’s wealthiest financier Michael Platt’s hedge fund in high-stakes tax fight January 27, 2026 Hedge funder BlueCrest Capital Management, founded by the UK’s wealthiest financier, Michael Platt, will appeal at the highest court this week over a tax battle with HMRC. The case centres on the salaried members’ rules, which determine if limited liability partnerships (LLP) members are genuinely self-employed or ‘disguised employees’ for tax purposes. HMRC issued determinations [...]
Traditional legal model shaken by investor interest and IPO ambitions January 26, 2026 External investment is increasing in mid-size legal firms, according to a new report, which revealed that nearly 70 per cent of firms have been approached by private equity investors or PE-backed entities in the last year. New data from MHA, in conjunction with the Law Society, shared with City AM, shows that the majority of [...]
Gucci to Zara: Brands ramp up fight against domain ‘squatting’ January 23, 2026 Global legal disputes over ‘squatted’ web addresses rose to 6,282 cases last year as big companies, especially fashion brands, are fighting back against counterfeit goods. According to data by Mathys & Squire shared with City AM, disputes over web addresses are up 49 per cent in five years (from 4,204) and 128 per cent in [...]
Donald Trump hits JP Morgan and Jamie Dimon with $5bn lawsuit January 23, 2026 President Donald Trump has JP Morgan and its top boss, Jamie Dimon, in a $5bn (£3.7bn) lawsuit following claims the banking giant debanked him for political reasons. Earlier this month, Trump blasted America’s biggest bank for “incorrect and inappropriately” discriminating against him after the President alleged JP Morgan stopped offering him services after the Capitol riots [...]
Legal accounts controversy: Who should fund the broken justice system? January 22, 2026 First, the government tried to go after the LLPs, but that failed. Now its eyes are on law firms’ client accounts under the narrative that it will be used to help the crumbling justice system, but lawyers are seeing it as just another tax raid. Law firms earn substantial income from interest on client accounts, [...]
Scrapping jury trials will only have ‘modest’ impact on backlog January 22, 2026 David Lammy’s controversial plan to restrict jury trials will unlock only “relatively modest reductions in demand given the scale of institutional upheaval”, according to a new report by the Institute for Government (IFG). The government’s plans, which leaked in November, revealed a move to scrap some jury trials to tackle the nearly 80,000 criminal case [...]