KPMG’s Carillion settlement generates £7m profit for Aussie litigation funder February 20, 2023 An Australian litigation funder has more than doubled its money after giving Carillion’s liquidator millions to fight a £1.3bn lawsuit against KPMG. Litigation Capital Management (LCM) has generated more than £7m in profits after funding the claim brought by Carillion’s liquidator against the Big Four firm, the Aussie firm said today. LCM’s announcement comes [...]
As the EU rehashes old myths of no win-no fee litigation, London stands to benefit February 1, 2023 In the EU, there are still many misconceptions about litigation funding. Here in London we must see it as a way for companies to manage risks and costs, writes Glenn Newbury
Bank of America reports one of ‘best years ever’ while income at Wells Fargo and Citi falls January 13, 2023 Bank of America, Wells Fargo and Citigroup all beat consensus estimates in their quarterly earnings reports, despite substantial falls in income at the latter two. Bank of America had an excellent quarter, making 2022 “one of the best years ever for the bank”. In the fourth quarter Bank of America’s net income increased slightly to [...]
Arctic miner GreenX to pocket £740m in damages from Polish government November 29, 2022 Arctic miner GreenX Metals is set to pocket £737m in damages from the Polish government, following a hearing in London over the past two weeks. The London-listed company, which mines for metals critical for the green transition, had sued Poland for profits lost in relation to two projects, Jan Karski and Debiensko, based in the [...]
City Moves: Who’s switching jobs in the Square Mile? September 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Bovill Financial regulation consultancy Bovill has appointed a Big Four director to head its wealth practice, covering financial planning, regulatory compliance and prudential obligations. Based in London, Matt Browne joins from PwC, where he was a director [...]
Litigation funder Therium poaches lawyers from top firms as it seeks to build up record lawsuit war chest July 27, 2022 Litigation funder Therium Capital today said it had recruited four new lawyers from some of London and New York’s top firms, as it prepares to raise its largest war chest yet. The firm has brought on board two new London lawyers – ex-Slaughter and May associate Chris Wilkins and ex-Michelmores associate Charlie Temperley – [...]
City Moves: Who’s switching jobs in the Square Mile? June 21, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Ontier Law firm Ontier has built out its London office with a new partner in its commercial litigation team. Amy Harvey, who will focus on asset recovery in cross-border disputes, will be Ontier’s third female partner hire in London in just [...]
Google and DeepMind face class action lawsuit over patient data deal with London hospital May 16, 2022 London law firm Mishcon de Reya is bringing forward a major class action lawsuit against artificial intelligence (AI) firm DeepMind and its sister company Google over claims the two firms misused UK patients’ medical records while working with the Royal Free Hospital. The lawsuit, filed to the High Court on behalf of 1.6m individuals, comes [...]
Grant Thornton strikes deal to offer crypto-recovery services May 3, 2022 Accountancy firm Grant Thornton has joined forces with a trio of other firms with a view to offering crypto recovery services. The accountancy firm struck a deal with two London law firms and a New York investment manager, to help clients recover stolen crypto assets. The deal comes on the back of a sharp rise [...]
Credit Suisse posts another loss on swelling legal costs April 27, 2022 Millions in pounds in legal costs to deal with a string of scandals has plunged embattled lender Credit Suisse to another quarterly loss, it announced today. The Swiss bank, which has been engulfed by sudden board departures and huge losses from its involvement in the Greensill Capital debacle, spent CHF 703m (£578m) on hiring lawyers [...]