TSB in £375m Northern Rock mortgage class action British bank TSB is set to appear before the Business List of the Chancery Division today (22 July) for a four-day hearing set to deal with the repercussions of its inheritance of Northern Rock mortgages in 2016. Hogan Lovells is to defend TSB against class representative Donna […]
Herbert Smith Freehills’s revenue hit £1.3bn over 2023/24, while profits soared by 14 per cent after a small uptick was recorded in the previous year’s results. The firm’s revenue was up 10 per cent from its last financial results of £1.186bn. Profits saw a double digit burst for the financial year, with HSF reporting a […]
The French legal market has welcomed a new boutique this week as CGR Avocats opens its doors following the breakup of its predecessor firm earlier this year. European 100 firm LPA-CGR Avocats finally split in May, bringing an end to the seven-year partnership between Lefèvre Pelletier & Associés and CGR Legal. CGR Avocats relaunched at […]
A turbulent election and the upcoming Paris Olympics: there’s plenty of eyes on France this summer. As its people gear up to celebrate la Fête Nationale Française, Bastille Day, this Sunday, we turn our attention to Bredin Prat and the French disputes market. The market: With a seat of the Unified Patents Court (UPC) and […]
London Metal Exchange back in court over $12bn nickel trade cancellation After the world’s leading centre for trading in industrial metals, the London Metal Exchange, cancelled nickel trades valued up to $12bn following an unexpected price spike in 2022, US hedge fund Elliott Associates brought a judicial review against the LME. The claimants, Elliott Associates […]
Mr Justice Constable has handed down a judgment in the Dieselgate litigation, slashing costs applications brought to the court. Claimants and defendants had each brought costs of over £200m before the High Court, which were slashed to fractions of their original value. The lead claimants, represented Pogust Goodhead, Leigh Day, Keller Postman, Milberg and Hausfeld, […]
An Osborne Clarke partner appeared before the Solicitors Disciplinary Tribunal (SDT) today to challenge allegations brought by the legal regulator and apply for a preliminary hearing on his case, which was refused. Represented by 4 New Square’s Ben Hubble KC, Osborne Clarke’s head of client strategy Ashley Hurst argued that the SDT should approve his […]
HFW has posted double-digit growth firmwide in profit and revenue for a second year running, as the firm hit £251m turnover for the financial year ending 31 March. This figure is up 11 per cent from last year, while net profit has gone up 16.5 per cent, hitting £75.4m. London revenue makes up around two-fifths […]
The Supreme Court handed down a landmark ruling today, overturning decisions by the High Court and Court of Appeal to grant waterway owners the right to bring legal action against polluters for nuisance and trespass. This case, one of The Lawyer’s top 10 appeals of 2023, has been progressing since 2010 and has taken over […]
Revenue at Kennedys increased 17 per cent during the 2023/24 financial year, with non-UK revenue contributing 50 per cent towards the firm’s top-line for the first time. Kennedys generated £384m in revenue, up from the £328m it generated in 2022/23. This marks the second consecutive year of double-digit growth for Kennedys, with the firm achieving […]
Qatari ex-PM hit with new claim According to the public filing system, ex-Prime Minister and Qatari royal Sheikh Hamad Bin Jassim Bin Jaber Al Thani has been hit with a new claim filed on Friday (28 June) in the Commercial Court, brought by a company owned by Northern Irish businessman Paddy McKillen. McKillen’s company, Hume […]
Weightmans is handing out £3,000 bonuses to all of its staff to celebrate a record year in which revenue grew by 12 per cent. The firm changed its financial year-end from 30 April to 31 March this year, posting revenue of just over £140m for the 12-month period. This equated to a 12 per cent […]