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International Edition

Global disputes: The unknown truth

Donald Rumsfeld, the former US defence secretary, speaking at a press briefing in 2002, famously said: "As we know, there are known knowns: there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns - the ones we don't know we don't know."
9 minute read

International Edition

Global disputes: Responding to crisis

For 10 years or so, the global economy grew. Lenders were free with their funds, especially in the US, where billions of dollars worth of mortgages were sold to people with weak credit ratings. The US banking sector packaged these subprime home loans into mortgage-backed securities known as collateralised debt obligations (CDOs), which were sold on to hedge funds and investment banks around the world. When borrowers started to default on their loans, the value of these investments plummeted, resulting in huge losses for banks globally.
8 minute read

International Edition

Global disputes: Now is the time to speak

International arbitration has, for many years, experienced extraordinary growth. A greater range of parties use arbitration for a wider range of disputes. Arbitration faces a number of challenges, however, not least from the fact that at a time of recession resources are stretched and businesses want to focus their resources on the productive parts of their business rather than on fighting disputes. Moreover, they want value for money, which translates into a desire for greater efficiency and effectiveness across a broad array of disputes.
8 minute read

International Edition

Ashurst to refer litigation to German independent

A senior German partner has left Ashurst as former Munich head Karl Wach sets up his own litigation boutique alongside senior associate Frank Meckes. The top 10 City law firm said the move came as part of a bid to refocus its Munich office around corporate and finance law. Wach was the only litigation partner in the office, although there are still three associates.
2 minute read

International Edition

DLA appoints new international senior partner

DLA Piper International has appointed a new senior partner, with litigation partner Janet Legrand set to replace Peter Wayte in the role. Legrand, who joined DLA Piper in 1991 as a partner, will take up the new post on 1 July, with Wayte set to retire after 37 years with the firm.
2 minute read

International Edition

Crowell boosts London arm with Cohen Milstein partner hire

Crowell & Moring has bolstered its London arm with the hire of Cohen Milstein Hausfeld & Toll's former European managing partner Rob Murray. Murray joined the firm's antitrust litigation practice last month after leaving Cohen Milstein in February, when the office rebranded as Hausfeld.
2 minute read

International Edition

Manches boosts IP litigation with Addleshaws partner hire

Manches has signed up intellectual property (IP) and litigation partner Margaret Tofalides from Addleshaw Goddard. Tofalides, who headed up Addleshaws' retail and data and information groups, has experience of working on a wide range of IP matters with a focus on litigation. She has acted for the likes of Argos, Homebase and Harrods.
2 minute read

International Edition

Ince records 23.5% revenue growth for 2008-09

Ince & Co has joined a handful of firms in defying the downturn to announce strong growth in revenues. The top 50 firm saw turnover for 2008-09 grow by 23.5% to hit £79.4m, up from £64.3m last year. In contrast, revenues during 2007-08 increased by 14.5% on the previous year. The firm's London office brought in the bulk of the fee income, breaking through the £50m barrier. Asia and Europe brought in £14.9m and £11.7m respectively.
2 minute read

International Edition

Pinsents to outsource litigation work to South Africa

Pinsent Masons has signed an outsourcing deal which will see the top 20 UK firm send litigation work to South Africa. The major regional player has launched a litigation support service in co-operation with global legal processing outsourcing provider Exigent, with the work to be undertaken by qualified lawyers in Exigent's outsourcing centre in Cape Town. Pinsents has outsourced document processing to Exigent for a number of years, but will now also see the company provide a data review and e-disclosure capability for its 360-lawyer litigation practice.
2 minute read

International Edition

Field Fisher posts 8% turnover rise with profits expected to fall

Field Fisher Waterhouse has become the latest firm to announce its financial results, with turnover growing by 8% but the firm predicting a slump in profits per equity partner (PEP). The UK top 40 firm saw revenues rise to £95m during the 2008-09 financial year, up from £88m the previous year. The firm has yet to finalise its PEP figure, but confirmed that it does not expect profits to reach last year's high of £750,000.
2 minute read

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