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International Edition

Cautious optimism reigns across industry as partners hope for economic bounceback

As the number of firms announcing redundancy consultations this week continued to rise – with news of widespread cuts at Berwin Leighton Paisner – new research from Legal Week has found a surprising degree of business confidence among partners in UK law firms. Results of the latest Big Question survey how that more than 90% of partners expect to see revenues climb at their own firm over the next 12 months, with more than 80% expecting the same to be true across the UK's 50 largest law firms by revenue as a whole. The research found more than half of respondents (53%) expect to see revenue at their own firm climb by more than 5% over the coming year, with a further 41% predicting more modest increases of between 0% and 5%. Meanwhile, only 6% of partners expect to see their firm's revenues fall.
5 minute read

International Edition

Breaking the deadlock – can Russia and Cyprus' business partnership survive the island's banking crisis?

The Cypriot banking crisis in March caused plenty of headaches for Russian businesses. It is no secret that Russian businessmen hold a significant amount of funds in accounts with Cypriot banks. Historically, the island has been the most popular jurisdiction for Russian investors, mainly because of the favourable double taxation treaty concluded with Russia (and with more than 40 other countries), flexible corporate governance rules, confidentiality and unique geography. The legal system in Cyprus – being based on English law – is by no means less important than the attractive taxation regime. Russian corporate legislation is traditionally famous for a number of mandatory rules that can make it too rigid.
9 minute read

International Edition

A&O, CC among firms pushing for renewal of Singapore law licences

Six international law firms awarded licences in Singapore's first Qualifying Foreign Law Practice (QFLP) round will need to secure a renewal next year if they wish to continue practising local law. Allen & Overy, Clifford Chance (CC), Herbert Smith Freehills, Norton Rose, Latham & Watkins and White & Case were the first group of foreign firms to be granted local licences in Singapore in 2009 as part of the Govern-ment's initiative to liberalise the legal market.
3 minute read

International Edition

Bar Council appoints first chief executive in two years

The Bar Council has appointed Stephen Crowne as its new chief executive, filling the position which has been vacant for two years. Crowne, who will take up the post on 3 June, has been the senior director of global education at networking equipment company Cisco for the last two years. Prior to this he was chief executive of the British Educational Technology & Communications Agency (BECTA) - the government agency for promoting technology in learning - for five years.
2 minute read

International Edition

Quinn Emanuel to launch in Australia with Herbert Smith Freehills duo

Quinn Emanuel Urquhart & Sullivan has announced plans to launch in Australia following the hire of two Herbert Smith Freehills partners. The Los Angeles litigation firm has recruited disputes partners Michael Mills and Michelle Fox from Herbert Smith Freehills in Sydney, and will be joined by IP litigation partner James Webster who is relocating to Australia from LA.
3 minute read

International Edition

Leveson counsel Jay among trio appointed to High Court Bench

Lead counsel to the Leveson Inquiry Robert Jay QC has been appointed a High Court Judge. Jay joins the Queen's Bench Division alongside two other new appointees Sue Carr QC and Judge Andrew Gilbart. Jay is replacing the retiring Mr Justice Roderick Evans and will take up the role from 4 June. In July 2011 he was appointed to join Lord Justice Leveson on the public inquiry into cases of phone-hacking and other wrongdoing at now-defunct Sunday tabloid, the News of the World.
2 minute read

International Edition

Latham hires four-partner Shearman team for Duesseldorf launch

Latham & Watkins has launched in Duesseldorf with a four-partner team hire from Shearman & Sterling, two weeks after Shearman announced it was closing two Germany bases in Duesseldorf and Munich. Duesseldorf corporate partner trio Harald Selzner, Rainer Wilke and Martin Neuhaus are joining Latham's new local office, while Munich litigation partner Markus Rieder is joining the US firm in Munich.
3 minute read

International Edition

Judicial Appointments Committee kicks off selection process for new Lord Chief Justice

The Judicial Appointments Committee (JAC) has kicked off the selection process to appoint a new Lord Chief Justice (LCJ) following the retirement of Lord Judge this September. The JAC has set up a selection panel to oversee the interviews for the role, which will take place in early July. The panel will make its decision and report to the Lord Chancellor Chris Grayling, who can accept the selection, reject it or require the panel to reconsider.
2 minute read

International Edition

Getting your house in order – the burden of self-reporting

Internal investigations are nothing new, but in the wake of banking scandals, growing regulatory pressure and a raft of legislation tightening and criminalising corporate law, investigations have become as burdensome for general counsel as they are burgeoning for their external legal advisers. Many corporates have gone to great and costly lengths to improve their internal processes, not least in light of the Bribery Act 2010, which forces UK and foreign companies with a UK operation to ensure they have adequate procedures in place to minimise the risk of bribery and corruption.
9 minute read

International Edition

Heads out of the sand - the GCs making bold moves to ward off corporate scandals

With risk and compliance policies in the spotlight, companies and in-house lawyers are finding they can no longer hide from changing attitudes to such issues. Helen Mooney reports on the progress being made...
10 minute read

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