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International Edition

Insolvency: Staking a claim

Investors who lose money through declining asset values often seek to recover some of their losses from the banks or other financial institutions that have sold them the loss-making investments - but it can take a long time for these cases to reach court. Judgment was handed down in JP Morgan Chase Bank v Springwell Navigation, the leading case in this area, in May 2008, some 10 years after the events which led to the dispute - the announcement by the Russian Government, in August 1998, of a devaluation in the rouble and a restructuring of sovereign debt.
8 minute read

International Edition

Courts deliver landmark backing for arbitral process

To maintain London's position as a leading centre for international arbitration, it is critical that the English courts maintain the balance between supporting and supplanting the arbitral process. The judgment of Justice Tomlinson in B v A [2010] is a landmark in that process and a triumph for the finality of English arbitral awards. The dispute, which arose out of an agreement governed by Spanish law, was referred to International Chamber of Commerce (ICC) arbitration before three arbitrators in London. An award was made by a majority of the tribunal in favour of party A. One of the arbitrators issued a dissenting opinion which criticised the award, alleging that the majority had ignored Spanish law and had decided the dispute ex aequo et bono.
4 minute read

International Edition

A&O on track in disputes push as fees break 10% of total revenue

Allen & Overy (A&O) is more than halfway towards its target set in 2008 to grow litigation revenues to 15% of its overall business. Litigation was identified as a key area for growth for A&O two years ago when revenues from the practice contributed 9% to total turnover, at which point the firm set out its intention to achieve the 15% goal within four to five years.
2 minute read

International Edition

Lord Grabiner QC set to chair Legal Week's Commercial Litigation Forum

Lord Grabiner QC is to head up an elite line-up of judges, barristers and solicitors discussing the key dispute trends at next month's Legal Week Commercial Litigation Forum. Grabiner will chair the event alongside a roster of senior lawyers, including Citibank litigation head Peter Fisher-Jones, Barclays Bank director of litigation and special investigations Jonathan Peddie, Clifford Chance (CC) commercial litigation head Simon Davis, Law Society chief executive Des Hudson and Ernst & Young head of fraud investigation John Smart.
2 minute read

International Edition

No5 Chambers votes in new head after death of Ralph Lewis QC

No5 Chambers has elected Paul Bleasdale QC as its new head of chambers following the death of Ralph Lewis QC. Bleasdale was voted in by a members' vote after Lewis passed away earlier this month following a battle with cancer. Lewis, who specialised in catastrophic injury claims, clinical and professional negligence as well as motor racing accidents, was called to the Bar in 1978 and took silk in 1999. He was an elected Bar Council member between 1999 and 2002 and became head of No5 Chambers in 2007.
2 minute read

International Edition

Halliwells partner lands new role as litigation head at US firm's City arm

Halliwells partner Robert Campbell has taken up a new role as head of business litigation at US firm Faegre & Benson's London office. Prior to Halliwells, Campbell worked at both Lovells and Freshfields Bruckhaus Deringer, and has 15 years' experience in commercial litigation. Faegre was ranked 95th in the most recent Am Law 100 rankings, reporting a 6% fall in partner profits to $505,000 (£325,000).
2 minute read

International Edition

Long-serving CC litigation partner quits to join Mallesons in Hong Kong

Clifford Chance (CC) litigation partner Denis Brock is leaving the firm after almost 25 years to join Australian leader Mallesons Stephen Jaques in Hong Kong. The new role will mark Brock's third spell in Hong Kong after he spent five years in the region with CC from 1987 and 1992, before taking on the leadership of the magic circle firm's local practice from 1997 to 2006. He returned to London in 2006 and last year lost out to Jeremy Sandelson in a contested election for the role of global head of litigation.
2 minute read

International Edition

Govt to consult on contingency fees and limiting 'loser pays' model

The Government is set to consult on the introduction of contingency fees in UK litigation alongside other key recommendations proposed by Lord Justice Jackson to reform civil litigation costs. Parliamentary under secretary of state for justice Jonathan Djanogly announced today (26 July) that the Ministry of Justice will consult on recommendations published in January in Jackson's high-profile report 'Review of Civil Litigation Costs'. The consultation will launch in the autumn and will seek views on whether lawyers should be permitted to enter into damages-based agreements (DBAs) or 'contingency fees' in litigation. If introduced, lawyers will be allowed for the first time to take a slice of their client's damages, after Jackson acknowledged that the "arguments in favour of contingency fees... outweigh the arguments against".
3 minute read

International Edition

Insurer loses legal battle with Law Society

A Court of Appeal judgment is set to have major implications for insurers seeking access to confidential documents from solicitors that could enable them to refuse indemnity, writes Post. In Quinn Direct Insurance v The Law Society, Quinn had appealed against an earlier High Court decision to refuse the company access to confidential documents relating to a firm of solicitors that was being investigated by the Law Society. In 2007 the Law Society took possession of files and documents relating to the firm as part of a large-scale fraud investigation. Quinn had provided the firm with professional indemnity insurance and was its primary insurer.
3 minute read

International Edition

Hill Dicks scores court victory for Wayne Rooney in contract dispute

Hill Dickinson has helped Wayne Rooney to a court victory in the footballer's dispute with his former agents over commission payments. Rooney signed an eight-year image rights agreement with Proactive Sports Management in 2003 when he was just 17 that entitled the agency to 20% of all of his sponsorship contracts. He split from the company in 2008, after which he was represented solely by former Proactive employee Paul Stretford, leading the agency to claim £8.1m in unpaid commission, a sum which was later revised to £4.5m.
2 minute read

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