Bush, who as governor of Texas made tort reform a primary objective, has encountered nothing but roadblocks in his campaign on the federal level. His most recent setback came last month when Senate Democrats prevailed in a filibuster over a proposal to cap punitive damages in medical malpractices cases at $250,000 or twice the amount […]

A U.S. bankruptcy judge is due to rule on Wednesday on WorldCom Inc.’s historic settlement with regulators, capping a long fight over how much the telephone company should pay for its accounting fraud. The settlement calls for WorldCom to pay $500 million in cash and $250 million in new stock in the reorganized company to

In what is believed to be the largest capital call the City has seen, equity partners will be asked to contribute up to 100 per cent of the value of the capital they have in the firm to ease debt and increase loyalty. Hammonds, which made gross fees of £137m last year, holds £18m in

Among them is one of the country’s oldest firm of advocates – Hamilton Harrison and Mathews – which was said to have received more than Sh1 billion from Goldenberg International accounts held at Exchange Bank between August 1992 and May 1993. One of the commissioners, Mr Peter Le Pelley, was a partner in the firm,

Average profits at the top 50 firms fell for the second year running, depressed by the lack of corporate mergers and acquisitions and the slowdown in capital market activity. That compares with fee growth at the top 50 firms of 8.6 per cent in 2001-02 and 21 per cent in 2000-01. Profits were down 0.9

The talks broke off July 24 with management at both firms claiming the split was reached by mutual agreement, despite earlier reports that a merger deal could have been finalised by the end of July. Commenting on the split, one senior Orricks partner said “There are always people and egos and politics in these things,

At present lawyers in the UK are forbidden from entering partnerships or incorporating other than fellow lawyers. The government also supports the ending of restrictions under which lawyers employed by companies are allowed to offer legal advice only to that company and not to its customers. The deregulation would open the door to mergers and

Plans are afoot in Victoria, Australia to ban the title solicitor because it confuses lawyers with prostitutes, beggars and hawkers. The Attorney-General, Rob Hulls, said the word “evokes thoughts of panhandlers, door-to-door salesmen and streetwalkers”. “In fact, in the US there are signs around the place saying, ‘Do not give money to solicitors’.” To clearly

During the Watergate scandal, with six simple words — “No man is above the law” — he helped hasten a president out of office. He was a plainspoken country lawyer named Chesterfield Smith, and he died Wednesday night in Coral Gables. He was 85. “He was the most influential lawyer, I think, to ever come

Clifford Chance’s management is set to publish this week its long-awaited partner compensation review, which will reaffirm its commitment to lockstep – despite pressure from some US partners to retain or expand a superpoints system The review’s conclusions signal a victory for London partners, who have traditionally taken a strong pro-lockstep line, although they are