Legal Week

June 22, 2009 | International Edition

"I completed my legal training in 2004, prior to which I worked in the legal departments of both an animation production company and an independent record label for a number of years. In 2005, I started working as a freelance business consultant providing commercial services (negotiating agreements, dispute resolution etc). Last year I decided to return to employment and since then I have been looking for a commercial/media-based in-house role.

By Legal Week

2 minute read

June 21, 2009 | International Edition

In news that can't be considered surprising, the US Department of Justice on Friday (19 June) unsealed a massive criminal indictment charging the billionaire financier Allen Stanford and five other people with orchestrating a $7bn (£4.2bn) Ponzi scheme through Stanford's banking empire in Antigua and in the US.

By Legal Week

5 minute read

June 19, 2009 | International Edition

Sidley Austin and Taylor Wessing are among a raft of top firms in line to win advisory roles on the ongoing Formula One crisis. Eight F1 teams - the overwhelming majority of participants in the competition - are threatening to break away and set up their own series as a result of a dispute with the motorsport's governing body, Federation Internationale de l'Automobile (FIA), over budget capping for 2010.

By Legal Week

2 minute read

June 19, 2009 | International Edition

Freshfields Bruckhaus Deringer has won the European mandate on the high-profile strategic alliance between automotive giants Chrysler and Fiat. Freshfields has been instructed as the main European adviser to Chrysler on the deal, which was announced last week (10 June) and saw the Italian car maker take a 20% stake in the new Chrysler entity, which is emerging from its bankruptcy proceedings.

By Legal Week

2 minute read

June 19, 2009 | International Edition

Clifford Chance (CC) has announced that it is to retain only 70% of trainees from its September intake, marking a 10% drop on the proportion taken on in March. The magic circle firm informed trainees yesterday and today that it intended to offer fewer jobs to trainees due to qualify this September.

By Legal Week

2 minute read

June 19, 2009 | International Edition

On 30 July, 1949, the Legal Aid and Advice Act received Royal Assent, heralding the creation of the modern legal aid system. Last week, sixty years later, the Legal Action Group (LAG) held its conference to mark the anniversary of what is arguably one of the key components of the welfare state. Given the impact of the recession, both on government spending and on potential litigants looking to enforce their rights, this is an especially important time to reflect on the past, present and future of legal aid.

By Legal Week

4 minute read

June 18, 2009 | International Edition

What makes staff feel satisfied? For law firms, as people businesses, that is the proverbial $64,000 question. Legal Week's research arm, Legal Week Intelligence (LWI) provides some answers with its annual Employee Satisfaction Survey, some headline findings of which we published this week.

By Legal Week

3 minute read

June 18, 2009 | International Edition

On 30 July, 1949, the Legal Aid and Advice Act received Royal Assent, heralding the creation of the modern legal aid system. Last week, sixty years later, the Legal Action Group (LAG) held its conference to mark the anniversary of what is arguably one of the key components of the welfare state. Given the impact of the recession, both on government spending and on potential litigants looking to enforce their rights, this is an especially important time to reflect on the past, present and future of legal aid.

By Legal Week

4 minute read

June 18, 2009 | International Edition

Rio Tinto has entered into an agreement with outsourcing provider CPA Global to offshore legal work to a team of lawyers in India. Jersey-based CPA Global are providing a team of 12 Delhi-based lawyers to handle tasks such as contract review, drafting and legal research - in a move projected to reduce Rio Tinto's annual legal spend by 20%. The company estimates that the new India venture, which became operational on 1 May, will be seven times cheaper than its lawyers in London.

By Legal Week

2 minute read

June 18, 2009 | International Edition

Herbert Smith has retained 48 of its 65 trainees set to qualify this September, equating to 74% of its intake. The retention rate represents a significant drop on last year's figure, when the firm kept on 45 out of 49 (92%) trainees. The firm's March intake earlier this year saw 26 out of 31 (84%) taken on.

By Legal Week

2 minute read