'People will continue to litigate in London' – Slaughters' disputes head on the market post-Brexit
With associate numbers growing by 60% in three years, Slaughter and May disputes head Deborah Finkler sets out plans to boost Hong Kong and competition litigation
August 23, 2016 at 08:19 AM
3 minute read
In the three years since Slaughter and May appointed Deborah Finkler as head of disputes, the firm has boosted associate numbers in the practice by 60%.
The elite firm now has 12 dispute resolution partners in London and 55 associates, compared with 11 partners and 34 associates three years ago.
Any doubts that Brexit could set this growth back are swiftly dismissed by Finkler, who highlights competition litigation, investigations and the Hong Kong practice as areas for further growth.
"We are expanding the dispute resolution practice across the whole piece," says Finkler. "I don't see Brexit as a real issue and there is no reason to think that it will make a difference to London as a dispute resolution centre," she adds.
The firm counts British Airways, Deutsche Bank, Olympus Corporation, Marks & Spencer and Vodafone among its key disputes clients and last year won the mandate to advise Deutsche Bank in relation to the Libor scandal. The bank ultimately received a $2.5bn fine from US and UK regulatory authorities.
"The investigations practice has really grown over the last few years, with our involvement in the biggest financial regulatory investigations like Libor and FX. We are expanding that in particular, to focus on things like bribery and sanctions," she says.
The practice, which since last year has been headed by Richard Swallow and Johnny Cotton, comprises a core team of 12 partners but up to 50 partners across the firm are now involved in investigations work to some degree.
Another big growth area will be competition litigation, according to Finkler, with the firm advising BA on the long-running Air Cargo case, which was the biggest piece of competition litigation before new Competition Appeal Tribunal Rules rules came into force last year.
In October last year, the General Court of the European Union overturned nearly €800m (£675m) in fines levied against cargo carriers, meaning BA avoided a fine of €104m (£88m).
In the shorter term though, it is Hong Kong that is set to receive an immediate boost to lawyer numbers.
The firm is set to send a senior disputes associate over from London to Hong Kong, with further additions at associate level potentially following, subject to demand.
Those making the move will need to requalify to practise Hong Kong law and gain a right of audience in the local courts.
"We see Hong Kong as a growth area and have had a disputes practice there for many years. Our client base is growing," she states.
While Finkler, who is expected to extend her first term beyond next year, does not give numbers for further headcount growth, she remains confident the practice will continue to thrive and will not be affected by the questions around Brexit.
"Disputes are not a discretionary spend – people will continue to litigate in London," she concludes. "We will need an equivalent way to enforce judgments using the Brussels convention but we don't think this is going to be a problem as the courts have done a good job in making London an attractive place to litigate. It is noticeable over the last few years how judges have focused on making London the place to resolve international disputes."
Related event: Legal Week Commercial Litigation & Arbitration Forum 2016 – Thursday 3 November, The Waldorf Hilton, London WC2. Register at www.commercial-litigation-forum.com
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