New Zealand’s law firms are at a crossroads. Faced with a shrinking pool of high-end work, reductions in panel numbers and flatter revenue growth, only the tough will survive in a small environment, but a notoriously competitive one.

Law Firms /

Rationalisation and consolidation have been the hallmarks of the year in New Zealand, as the drift of corporate head offices to Australia has forced practices to meet the challenge of ever increasing competition within a shrinking domestic market. “I’d say the market in New Zealand has been a lot more competitive for a lot longer […]

New Zealand’s law firms are at a crossroads. Faced with a shrinking pool of high-end work, reductions in panel numbers and flatter revenue growth, only the tough will survive in a small environment, but a notoriously competitive one. Read More »

They are partners in one of the most feared firms in America. Mel Weiss and Bill Lerach have won $30 billion suing corporate America. Now they too are under investigation.

Law Firms /

William Lerach, 57, is a flamboyant, sharp-elbowed showman. Together, as cochairmen of one of the most feared law firms in the nation, Milberg Weiss Bershad Hynes & Lerach, they have bullied corporate America out of $30 billion in damages and counting. In building the modern-day model for the shareholder class action, their mission has been

They are partners in one of the most feared firms in America. Mel Weiss and Bill Lerach have won $30 billion suing corporate America. Now they too are under investigation. Read More »

Who took the biggest slice of the European coporate pie in 2003? Thomson Financial’s tables show that the winner was Clifford Chance, who leapfrogged Linklaters with 216 deals handled. So who was behind them?

Law Firms /

Clifford Chance has come top of the MergerMarket announced European M&A league tables for the first time, knocking Linklaters off the top spot. The firm also came top of Thomson Financials tables for announced M&A with a European target. Clifford Chance leapfrogged Linklaters in the 2003 MergerMarket tables, handling 216 deals across Europe worth €163bn

Who took the biggest slice of the European coporate pie in 2003? Thomson Financial’s tables show that the winner was Clifford Chance, who leapfrogged Linklaters with 216 deals handled. So who was behind them? Read More »

US firms continue to dominate in the international fees arena as they get set to announce double-digit growth for 2003. Latham & Watkins has broken the $1 billion revenue barrier joining other firms including Freshfields Bruckhaus Deringer and Linklaters in the billion dollar bracket.

Law Firms /

Latham & Watkins has broken the $1bn (£562.4m) revenue barrier — matching the profits of Freshfields Bruckhaus Deringer and Linklaters along the way — as London’s top law firms prepare to be eclipsed by another record-breaking year for US rivals. The Los Angeles-based giant leads the charge of US firms preparing to announce double-digit growth

US firms continue to dominate in the international fees arena as they get set to announce double-digit growth for 2003. Latham & Watkins has broken the $1 billion revenue barrier joining other firms including Freshfields Bruckhaus Deringer and Linklaters in the billion dollar bracket. Read More »

Question: How many lawyers does a slow economy produce? Answer: More. The number of lawyers in the USA exceeded 1 million for the first time in 2003. And the number of people taking the Law School Admission Test (LSAT) in 2003 is near the record 152,242 set during the last recession, in 1991. The two-year record of 300,020 of 1990-91 stands an equally good chance of falling in 2002-03.

Law Firms /

Will the additional lawyers find work? Most likely they will, because companies will continue to combat the fear of litigation, says Walter Olson, senior fellow at the Manhattan Institute and editor of overlawyered.com. A Business Roundtable survey of CEOs of the nation’s largest companies this month said they were worried most about rising health care

Question: How many lawyers does a slow economy produce? Answer: More. The number of lawyers in the USA exceeded 1 million for the first time in 2003. And the number of people taking the Law School Admission Test (LSAT) in 2003 is near the record 152,242 set during the last recession, in 1991. The two-year record of 300,020 of 1990-91 stands an equally good chance of falling in 2002-03. Read More »

The US law firm bonus market appears to have stabilized as New York powerhouse, Cravath Swaine + Moore has set its benchmark bonuses for 2003 at last year’s rates. Cravath’s typically sets the top of the market in the New York bonus season and will pay first year associates awards of $17,500, rising to $25,000 – the same as the 2002 bonus season.

Law Firms /

Like most elite US firms, Cravaths’ awards are handed out solely on a seniority basis with no performance criteria. Cravaths’ announcement, which was made to associates on 8 December, ends weeks of intense speculation over whether New York firms would this year sanction significant increases to the awards handed out in 2002, given the post-summer

The US law firm bonus market appears to have stabilized as New York powerhouse, Cravath Swaine + Moore has set its benchmark bonuses for 2003 at last year’s rates. Cravath’s typically sets the top of the market in the New York bonus season and will pay first year associates awards of $17,500, rising to $25,000 – the same as the 2002 bonus season. Read More »

Defending their own legal malpractice suit is not the most edifying way for a lawyer to spend his or her time. Christopher Hoge is a DC lawyer who spends a lot of time prosecuting legal malpratice suits. That niche probably doesn’t earn him the Mr Nice Guy award with many colleagues, but love him or hate him, Hoge does have some insight into what gets lawyers into trouble.

Law Firms /

He has been practicing since 1975 and was elected as president of the Bar Association of the District of Columbia from 1998-1999. His other areas of practice include criminal law, civil litigation and professional negligence. What percentage of your practice is devoted to suing lawyers? I’d say at this point, probably 30 or 40 percent

Defending their own legal malpractice suit is not the most edifying way for a lawyer to spend his or her time. Christopher Hoge is a DC lawyer who spends a lot of time prosecuting legal malpratice suits. That niche probably doesn’t earn him the Mr Nice Guy award with many colleagues, but love him or hate him, Hoge does have some insight into what gets lawyers into trouble. Read More »

Clifford Chance has been left out on a limb following its decision to cut salaries for newly-qualified lawyers Trainees due to qualify this September will see their pay dip from £50,000 to £48,000 per year. Associates at Clifford Chance will see their average pay increase drop to just over 4 per cent from a previous 6.7 per cent in 2002-03.

Law Firms /

Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters, however, have all confirmed to Lawyer 2B that they will not be following the rival magic circle firm’s lead, and that newly-qualifieds’ pay will remain static at £50,000. With SJ Berwin, Clifford Chance was the instigator of the 2000 salary war, as UK firms sought to rival

Clifford Chance has been left out on a limb following its decision to cut salaries for newly-qualified lawyers Trainees due to qualify this September will see their pay dip from £50,000 to £48,000 per year. Associates at Clifford Chance will see their average pay increase drop to just over 4 per cent from a previous 6.7 per cent in 2002-03. Read More »

Linklaters’ European network is growing increasingly vulnerable to predatory US firms after losing two more star partners to stateside rivals. Weil Gotshal & Manges has scooped Paris private equity partner David Aknin, while Cleary Gottlieb Steen & Hamilton’s Frankfurt practice has scored antitrust rainmaker Dirk Schroeder.

Law Firms /

The devastating departures compound fears over the ability of Linklaters to hold on to its top partners across Europe after this year losing corporate giant Peter King to Shearman & Sterling and Roberto Christofolini to Latham & Watkins. Although the firm has lost many partners in the last 18 months, most were managed out, with

Linklaters’ European network is growing increasingly vulnerable to predatory US firms after losing two more star partners to stateside rivals. Weil Gotshal & Manges has scooped Paris private equity partner David Aknin, while Cleary Gottlieb Steen & Hamilton’s Frankfurt practice has scored antitrust rainmaker Dirk Schroeder. Read More »

New Zealand has its first Public Defender, an Auckland barrister who leads 18 lawyers in the country’s pilot program to deliver “a quality, consistent service” for less money. Time will tell whether the three year scheme will deliver the goods.

Law Firms /

Auckland lawyer Michael Corry will lead a team of 18 salaried lawyers working full-time on legal aid cases in the Auckland and Manukau courts from May next year. The manager of strategic development for the Legal Services Agency, Frances Blyth, said the three-year Public Defence Services pilot aimed to deliver “a quality, consistent service” for

New Zealand has its first Public Defender, an Auckland barrister who leads 18 lawyers in the country’s pilot program to deliver “a quality, consistent service” for less money. Time will tell whether the three year scheme will deliver the goods. Read More »

Scroll to Top