Legal Week

July 02, 2009 | International Edition

In Tamlura v CMS Cameron McKenna, the High Court considered whether a solicitors firm is obligated to tell a client if, during a transaction, the other side makes a mistake which operates to the client's advantage. In this article, we consider the court's decision and the practical implications for solicitors.

By Legal Week

5 minute read

July 02, 2009 | International Edition

In between the rush and flow of working as general counsel of Lenovo, a global computer company with heritage in both the US (IBM PC) and China (Legend Computers) and operations worldwide, I've realised that there are some basic principles that guide my work. I call these tenets – some of them I've learned along the way, and some I am still learning every day. Let me share those at the top of my list.

By Legal Week

12 minute read

July 02, 2009 | International Edition

The last nine months have seen huge changes in our industry. Massive upheaval in the financial services sector has resulted in a funding restriction affecting almost every business. The new market is more competitive, with most clients under increased budgetary pressure and more likely to consider using other firms or exert pressure on their existing firms to lower rates. This pressure on revenue is in turn affecting the profitability of most firms, and the understandable reaction is to cut costs.

By Legal Week

4 minute read

July 02, 2009 | International Edition

When one newly-appointed finance director took up his new role, he reportedly said: "If a manufacturing business ran itself like we do, they would go bust in one day". The statement reflects a call to arms from finance directors, human resources and clients alike for law firm IT departments to help them out as the recession hits.

By Legal Week

6 minute read

July 02, 2009 | Legal Week

When one newly-appointed finance director took up his new role, he reportedly said: “If a manufacturing business ran itself like we do, they would go bust in one day”. The statement reflects a call to arms from finance directors, human resources and clients alike for law firm IT departments to help them out as the recession hits.

By Legal Week

14 minute read

July 02, 2009 | International Edition

Having written last week about Norton Rose attracting brickbats from rivals, there was one point that didn't get made that is worth all major law firms remembering. That is simply that it is usually a good sign to be the target of criticism from rivals. The time to worry is when they stop talking about you, because it means you are no longer on the radar.

By Legal Week

3 minute read

July 02, 2009 | International Edition

The IT climate is changing, with most experts forecasting a greater reliance on 'cloud computing'. Consumers and, more notably, businesses are increasingly accessing and using computing resources located somewhere in the internet 'cloud', including software, storage and processing services, replacing tools previously stored on individuals' hard drives or businesses' servers.

By Legal Week

9 minute read

July 02, 2009 | International Edition

Allen & Overy (A&O) is advising longstanding client Nationwide on its bid to purchase collapsed building society Dunfermline's portfolio of social housing loans worth £670m. The building society has been selected as the preferred bidder for the loans book, which was transferred from Dunfermline to Bank of England-owned DBS Bridge Bank earlier this year while a permanent home was sought.

By Legal Week

2 minute read

July 02, 2009 | International Edition

Skadden Arps Slate Meagher & Flom's London arm has advised as Nokia Siemens Networks picked up part of Nortel Network's business for $650m (£397m). London-based restructuring co-head Lynn Hiestand took the lead on the deal, which saw Nokia Siemens purchase Nortel's advanced wireless technology business, working alongside UK corporate partners Scott Simpson and Michal Berkner along with Simpson.

By Legal Week

2 minute read

July 02, 2009 | International Edition

With budgets under closer scrutiny than ever before, the IT department in any law firm must be firmly focused on creating and maintaining an IT infrastructure that is equipped to meet the demands of its user base in the most effective and efficient manner possible. The right IT infrastructure can save time and money, increase productivity and deliver a competitive edge.

By Legal Week

5 minute read