A key session of the Commercial Litigation Summit tackled aspects of global investigations from an in-house and external adviser perspective. Clifford Chance partner Judith Seddon began by looking at deferred prosecution agreements (DPAs) and self-reporting. She posed the question: ‘How effective are DPAs in changing corporate behaviour? From a corporate-governance perspective, does the failure-to-prevent offence focus the board’s attention on the importance of ensuring it has adequate or reasonable procedures?’ Continue reading “Nowhere to run”
The cutting edge
During Apple’s earnings conference call in May, chief executive Tim Cook discussed the company’s long-running and bitter dispute with Qualcomm, a company that manufactures internal components for the iPhone.
Joining the dots to manage data risk
The In-House Lawyer’s earlier survey with DAC Beachcroft in the Spring 2017 issue, ‘Managing Risk: The In-House View’ identified these key points:
AG Integrate in action
Innovation in legal services remains the buzzword of the moment, yet what clients require from their law firms remains the same – a true understanding of both their legal and business needs. Firms continue to explore the cost and time-saving benefits that AI and legal technology bring, as well as employing flexible resourcing models as a way to offer greater choice and control, yet what clients demand more increasingly is a collaborative, integrated approach to legal service delivery.
AG Integrate in action
Innovation in legal services remains the buzzword of the moment, yet what clients require from their law firms remains the same – a true understanding of both their legal and business needs. Firms continue to explore the cost and time-saving benefits that AI and legal technology bring, as well as employing flexible resourcing models as a way to offer greater choice and control, yet what clients demand more increasingly is a collaborative, integrated approach to legal service delivery.
Autumn Budget 2017 update
As expected, in one of the most substantive changes to the taxation of real estate in recent years, the Chancellor has announced the extension of corporation tax to the income of non-UK corporate landlords (NRCLs). Continue reading “Autumn Budget 2017 update”
House in order
The Bribery Act 2010 and associated white-collar crime legislation may have caused a headache for the c-suite but in-house teams have much to be thankful for. Continue reading “House in order”
The new front
As expected – or feared – implementing the incoming General Data Protection Regulation (GDPR) is a mammoth task for some companies. ‘It is all-encompassing,’ says Karen Kerrigan, chief legal officer at equity crowdfunding firm Seedrs. ‘The advantage of being a small business is that you can involve all the other departments. Frankly, I would be terrified of GDPR if I was at a large business, because you have to take a much more decisive risk-based approach in terms of what you are physically able to look at. We were able to sit down with our development team, our marketing team and our investments team, and go through every single one of their activities and the service providers they were using.’
The new front
As expected – or feared – implementing the incoming General Data Protection Regulation (GDPR) is a mammoth task for some companies. ‘It is all-encompassing,’ says Karen Kerrigan, chief legal officer at equity crowdfunding firm Seedrs. ‘The advantage of being a small business is that you can involve all the other departments. Frankly, I would be terrified of GDPR if I was at a large business, because you have to take a much more decisive risk-based approach in terms of what you are physically able to look at. We were able to sit down with our development team, our marketing team and our investments team, and go through every single one of their activities and the service providers they were using.’
Internal affairs
The final session of the 2017 Commercial Litigation Summit sought the views of senior in-house counsel on managing disputes. Chairing the panel, Stephen Moriarty QC of Fountain Court Chambers kicked off the debate by tackling the perception of an in-house department as a cost centre – effectively, a necessary evil – citing the CV of Hausfeld’s Laurent Geelhand as an anecdote. Prior to joining the law firm, Geelhand was the European general counsel (GC) of Michelin, credited with turning ‘Michelin’s European legal department into a profit centre by systematically pursuing actions against third parties’. Moriarty asked the panel whether that is a realistic approach to running an in-house team. Continue reading “Internal affairs”
Internal affairs
The final session of the 2017 Commercial Litigation Summit sought the views of senior in-house counsel on managing disputes. Chairing the panel, Stephen Moriarty QC of Fountain Court Chambers kicked off the debate by tackling the perception of an in-house department as a cost centre – effectively, a necessary evil – citing the CV of Hausfeld’s Laurent Geelhand as an anecdote. Prior to joining the law firm, Geelhand was the European general counsel (GC) of Michelin, credited with turning ‘Michelin’s European legal department into a profit centre by systematically pursuing actions against third parties’. Moriarty asked the panel whether that is a realistic approach to running an in-house team. Continue reading “Internal affairs”
The new space race
When President John F Kennedy stood before Rice University on 12 September 1962 and boldly declared that not only would the US be the first country to land on the moon, but they would do it before the end of the decade, he captured the imagination of a generation. Continue reading “The new space race”
The new space race
When President John F Kennedy stood before Rice University on 12 September 1962 and boldly declared that not only would the US be the first country to land on the moon, but they would do it before the end of the decade, he captured the imagination of a generation. Continue reading “The new space race”
Client profile: Rushad Abadan, Standard Life Aberdeen
The general counsel of the Scots-based investment giant reflects on the lessons of the financial crisis and what it takes to run a FTSE 100 legal team
Rushad Abadan always knew what he wanted to do with his life. ‘I always fancied the idea of being a lawyer, even at school. I was one of those people who was very clear about their career path early on. Happily for me it worked out.’ Continue reading “Client profile: Rushad Abadan, Standard Life Aberdeen”
The edge of the cliff – Brexit response for worried GCs
For UK business, 2018 will be dominated by one question: when do we push the button on Brexit? Months of scenario planning have given a sense of the possible outcomes, but there is little confidence that a decision will be taken in full possession of the facts.
‘We are 500 or so days on from the referendum, and it is still not clear what the arrangements between the UK and the EU will be,’ notes Kirsty Cooper, group general counsel (GC) and company secretary at Aviva. ‘As GCs we are being asked to give our best guess, but the scale of the conjecture with Brexit is unusual.’ Continue reading “The edge of the cliff – Brexit response for worried GCs”
Client Intelligence Report: Data view – Who provides better service among the world’s elite – US or UK law firms?
The chart below illustrates the overall key performance indicator (KPI) scores as defined by the Client Intelligence Report (www.clientintelligencereport.com), for 30 of the largest law firms in the world by size.
The overall KPI ratings show US firms are significantly outperforming their UK counterparts when it comes to client reviews. Of the 15 firms listed here, all but four exceed the average, while only one solely UK-headquartered firm hit comparable scores. Continue reading “Client Intelligence Report: Data view – Who provides better service among the world’s elite – US or UK law firms?”
Global Elite advise Siemens on €40bn German IPO of medical division
Latham & Watkins, Linklaters and Sullivan & Cromwell are all advising as German conglomerate Siemens plans to list its €40bn medical technology unit in what will be one of the largest IPOs in the country since Deutsche Telekom floated for €13bn in 1996.
The listing is slated for the first half of 2018 on the Prime Standard segment of the Frankfurt Stock Exchange and will see Siemens create Siemens Healthineers, a spin-off of the company’s medical technology business. After the listing, Siemens will become the new company’s most significant shareholder. Continue reading “Global Elite advise Siemens on €40bn German IPO of medical division”
Travers’ grip on Bridgepoint challenged as it wins Burger King franchise buyout
Travers Smith, one of Bridgepoint’s go-to firms, has sealed another mandate in the form of the private equity (PE) house’s acquisition of a raft of UK Burger King franchises.
The mid-market deal saw Travers advise its longstanding client, while Macfarlanes – itself no stranger to Bridgepoint – advised the management buy-in team. The acquisition from Burger King Europe (BKE) means Bridgepoint will now own Caspian UK Group, the franchisee of some 74 fast food outlets. Continue reading “Travers’ grip on Bridgepoint challenged as it wins Burger King franchise buyout”
Reversal of fortunes – how three mid-tiers outgunned the City elite for a decade
It is dominated by mid-sized firms while global players and City leaders lag far behind. Watson Farley & Williams (WFW) sits in the third spot. You must scroll down nearly 40 positions before finding the likes of Linklaters and Clifford Chance.
It is not the chart for revenue, profits or partner earnings. It is a table of major British law firms’ organic growth over the last ten years, marking the period since the financial crisis. Continue reading “Reversal of fortunes – how three mid-tiers outgunned the City elite for a decade”
Disputes Eye: Disclosure reform – time to err off the side of caution
It takes a brave soul to tackle the issue of extortionate disclosure in the UK, and finding the happy medium required to satisfy both fretting clients and sceptical lawyers is difficult.
But that is exactly what the Disclosure Working Group is attempting to do, introducing a wave of reforms in November that will run as a mandatory two-year pilot across the business and property courts in the Rolls Building, starting in 2018 subject to approval from the Civil Procedure Rules Committee. Continue reading “Disputes Eye: Disclosure reform – time to err off the side of caution”
