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International Edition

Partners Confront 'Deeply Uncomfortable' Client Communications on Soaring Billing Rates

Law firms are increasingly relying on engagement letters or online e-billing platforms to alert clients of rate increases, even though less personalized communication can frustrate clients, sources say.
6 minute read

International Edition

Anglo American GC: 'Maybe Partners Should Make Less Money and Associates Should Make More'

In a wide-ranging interview, the mining giant's company secretary Richard Price expresses concerns about the effects of soaring associate pay and the erosion of the rule of law.
8 minute read

International Edition

Billing Rate Hikes 'Not Slowing Down,' With Pricing Surges Expected in 2024

About 86% of large firms in the U.S. and U.K. expect to increase billing rates over the next 12 months, according to new survey results.
6 minute read

International Edition

The UK Top 50 Firms With the Highest Debtor Days

Almost twice as many firms saw their debtor days rise compared with the previous year, research has found, with one accountant saying: 'It is hard to think of another sector that is worse at getting its clients to pay.'
3 minute read

International Edition

Alternative Fee Arrangements Gaining Popularity in Australia Amid Economic Downturn

Australian firms are also cutting costs and increasing their fees.
2 minute read

International Edition

Rimon Lures Restructuring Veteran from Gibson Dunn with Innovative Fee Structure, Plants Flag in Singapore

Troy Doyle is moving over, citing client demands for true flexible fee structures and experienced partner involvement on restructuring matters.
3 minute read

International Edition

Kirkland Pulled in $165M in Fees Advising Blackstone

The private equity giant made the unusual disclosure to comply with conflict-of-interest rules that kicked in when Kirkland partner Reginald "Reg" Brown joined its board in 2020.
2 minute read

International Edition

Will AI Kill Off the Billable Hour Someday?

"The people who regulate the profession are the profession. They are judges and members of the bar. So what incentive do they have to give away that control to the machine?" said Foster Sayers, vice president of legal ops at health tech company symplr.
7 minute read

International Edition

Top Big Law Partners Are Earning More Than $2,400 Per Hour, as Rates Continue to Climb

Dechert has hiked its rates for top partners by 20%, while McDermott is charging top partners out at $2,590 hourly, according to recent bankruptcy court filings.
3 minute read

International Edition

A&O and Shearman Offer Partners Financial Incentive to Stay with Combined Firm

The merger of the two firms is due to formally take effect in May 2024, with 99% of partners at both firms approving the plans in October.
2 minute read

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