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International Edition

Why Hong Kong should move away from its outdated system and embrace success fees

The legal profession in Hong Kong has long resisted it. Common law prohibits it. And professional sensibility makes many cringe at its very mention. But the local case of barrister Louie Mui has reignited the debate about conditional and contingency fees in Hong Kong. For this lawyer at least, it's time to start listening to what clients want. Many of us have spent large portions of our careers advising clients on what they need rather than what they tell us they want, so I say this guardedly. However, demand for conditional or contingency fees is intensifying, partly as a function of pressure generally from clients for lawyers to provide viable alternative fee arrangements, and partly because clients are actively exercising their right to enter a debate previously off limits to all but a select few.
5 minute read

International Edition

Open season – the influx of global firms making their mark in Singapore

From the top of the world's most expensive casino building in Marina Bay, Singapore's central business district is an impressive sight. Overlooking the water, an array of glittering silver skyscrapers bear the names of banks, insurance companies and luxury hotel brands, while a mix of local landmarks, shopping malls and restaurants keep tourists happy. The scene, in all its grandeur, reflects not only the sunlight, but the commercial achievements of a city that has now become a hub for southeast Asia, with Singapore now ranked as one of the four leading financial centres in the world. Alongside Hong Kong, Taiwan and South Korea, it is also one of the Four Asian Tigers.
8 minute read

International Edition

Withers and Speechly Bircham call off merger after top-level talks

Withers and Speechly Bircham have opted against a merger of the two firms, following votes at both firms earlier this week. A spokesperson for both firms said: "Following detailed discussions between the management and partnerships of Withers and Speechly Bircham, both sides have now concluded that a merger would not be in the best interests of both firms and have agreed not to pursue this further.
3 minute read

International Edition

Trowers makes seven job cuts as redundancies at top 50 firms continue

Trowers & Hamlins has become the latest law firm to announce job cuts, with seven employees made redundant between March and this week. In total, three secretarial staff and four fee earners have been laid off, with the firm attributing the move to "continuing pressures on the UK legal market".
2 minute read

International Edition

Bevan Brittan becomes latest firm to make layoffs as spending cuts bite

Bevan Brittan has placed three fee-earners and six support staff at risk of redundancy as law firms across the UK continue to streamline their businesses amid tough market conditions. The trio of associates are all based in Bevan Brittan's commercial and infrastructure department, while the six support roles are in the firm's human resources and finance teams.
2 minute read

International Edition

Law firms missing out on SME work over cost concerns, LSB study finds

More than half of small businesses are handling their own legal matters amid widespread concerns about the value for money offered by law firms, according to a major Legal Services Board (LSB) research project. The report, compiled in partnership with pollsters YouGov, surveyed 9,703 small and medium enterprises (SMEs) in England and Wales, with 52% of respondents stating that they handle legal problems without external help.
3 minute read

International Edition

King & Wood Mallesons Australia managing partner steps down

King & Wood Mallesons (KWM) Australia managing partner Tony O'Malley has quit the firm just 14 months after taking up his current role. O'Malley has agreed to step down from the management role immediately and will retire as a partner of the firm on 31 December this year.
2 minute read

International Edition

Irwin Mitchell predicts solid growth as Pannone rejects talk of merger

Pannone has moved to quash rumours it has held talks with Irwin Mitchell over a potential merger deal, as the latter prepares to unveil solid financial results for 2012-13. Speculation over a potential tie-up has been circulating in recent months, with one senior partner at a rival national firm telling Legal Week that many of his Manchester partners believed a merger was a "done deal".
3 minute read

International Edition

Withers and Speechly settle on proposed name ahead of merger votes

Withers and Speechly Bircham are to vote next week on a potential merger which could create a UK top 25 law firm known as Withers Speechly Bircham (WSB). Speechly's interim vote is on Tuesday (21 May) and Withers' is on Wednesday (22 May), with the news coming after the private client focused firms issued a joint statement on 25 March confirming preliminary discussions were taking place.
3 minute read

International Edition

In depth: CEE and Russia

Growing harmonisation, a blurring of the lines between local and international firms, and the impact of the Cypriot banking crisis are all major topics explored in this week's special features on CEE and Russia
1 minute read

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