Paul Weiss chair Brad Karp resigns from leadership role after Epstein revelations

Paul Weiss chair Brad Karp has resigned as chair of the firm after his longstanding connections to Jeffrey Epstein were revealed in documents released by the US Department of Justice.

Karp, who has led the firm for 18 years, has faced intense scrutiny in recent days after his communications with the late sex offender were made public in the Epstein files.

He will be replaced as chair by corporate heavyweight Scott Barshay, who has been at the firm since 2016, when he joined as global head of M&A from Cravath Swaine & Moore.

In a statement, Karp said: ‘Leading Paul Weiss for the past 18 years has been the honour of my professional life. Recent reporting has created a distraction and has placed a focus on me that is not in the best interests of the firm.’

In the statement announcing the change in leadership, the firm said that Karp ‘will continue to focus his full-time attention to client service at the firm’.

Barshay said: ‘I step into this role with great confidence in Paul Weiss’ continued success. Our strength lies in the talent and dedication of our people and trusted client relationships. Clients come to Paul Weiss because we deliver excellence, and our firm is unified in our commitment to continuing to provide the highest standards of client service.’

On Karp, he added: ‘Brad has made immense contributions to Paul Weiss over his more than four decades with the firm. As chairman of the firm, he transformed Paul Weiss in an unprecedented way to the great benefit of our clients. We are grateful to him for his extraordinary dedication and service over his many years as chairman.”

The Epstein files have uncovered private emails and messages between the convicted sex offender, who died in 2019, and dozens of high profile politicians, business leaders and celebrities.

In one email chain from 2015, Karp describes Epstein as ‘amazing’ after thanking him for an ‘evening I’ll never forget.’

In an earlier statement, the firm said that Karp met Epstein through his representation of Leon Black, the former chairman and CEO of Apollo Global Management, ‘a significant firm client.’

‘During the course of that representation, which spanned several years, Karp never witnessed or participated in any misconduct. Karp attended two group dinners in New York City and had a small number of social interactions by email, all of which he regrets,’ the statement added.

Documents are being periodically released by the DOJ following the passing of the Epstein Files Transparency Act at the end of last year.

Karp has worked at Paul Weiss since he graduated Harvard Law School in 1983, practising in its litigation team. He served as chair of Paul Weiss’ litigation department until 2008, when he was elected as chairman.

At the beginning of last year, Karp was embroiled in controversy as he led Paul Weiss into negotiations with President Trump after executive orders to terminate federal contracts with the firm were announced.

Paul Weiss became the first firm to negotiate a deal with Trump to lift the order, and agreed to provide $40m pro bono support to the administration. Skadden and Willkie also signed similar deals.

After the deal was announced Karp defended his actions in a message to colleagues, where he described the executive orders as an ‘existential crisis.’

kate.peacock@legal500.com

Paul Weiss launches Houston office with Kirkland corporate duo

Paul Weiss has opened an office in Houston, led by two corporate partners from Kirkland & Ellis, with one joining as co-chair of global M&A.

Sean Wheeler, a Legal 500 leading partner for energy transactions: oil and gas, will serve as head of the new office as well as global M&A co-chair. He joins Paul Weiss after more than seven years at Kirkland.

Debbie Yee, also an energy-focused M&A partner at Kirkland, will also join the firm.

Prior to Kirkland, the pair spent time as partners at Latham & Watkins, where Wheeler was co-chair of the firm’s oil and gas industry team. Wheeler left for Kirkland in 2018, and Yee followed him a year later, in 2019.

The partners bring with them experience across energy and infrastructure deals, with notable recent work including advising Marathon Oil Corporation on its $22.5bn sale to ConocoPhillips in 2024.

Scott Barshay, chair of Paul Weiss’ corporate practice, said of Wheeler: ‘Sean is the country’s most talented and accomplished deal lawyer in the energy space.’

‘He is the ideal leader to spearhead our expansion into Houston,’ he added.

Paul Weiss joins several other firms that have expanded their footprint with a Houston base, as Sullivan & Cromwell opened its own office there at the start of the year with the hire of Patrick Lingwall, also from Kirkland.

The move comes amidst a spate of activity in Houston, in particular in the energy sector, with the recent $58bn merger of Devon Energy and Corterra Energy creating a new mega-shale operator headquartered in the city.

In a statement, Paul Weiss chair Brad Karp said: ‘Houston is a booming business epicenter that is home to many of our clients.’

He continued: ‘Houston’s dynamic business environment, world-class energy sector and rapidly diversifying economy make it an ideal market for the next step in our firm’s growth trajectory.’

For Paul Weiss, the move is another step in an ongoing wave of expansion that has seen the New York-headquartered firm make significant partner hires since the 2023 London push that has seen it become one of the fastest growing firms in the City.

The news comes as the firm has been embroiled in controversy this week, with newly released files showing communications between Karp and disgraced late financier Jeffrey Epstein.

In a statement from the firm, Karp expressed his regret for his relations with Epstein and denied any misconduct.

kate.peacock@legal500.com

Taylor Wessing accounts reveal £10m pay for top earner

Taylor Wessing‘s accounts have revealed that its best-paid partner received more than £10m during 2024-25, as the firm gears up for its transatlantic merger with Winston & Strawn.

The limited liability partnership (LLP) filing for the year to 30 April 2025 comes after partners at both firms voted through their transatlantic merger, with the newly combined Winston Taylor set to go live this May.

The accounts state that ‘the profit attributable… to the member with the largest entitlement was £10,387,583’ – up 34% from the previous year’s top figure of £7,750,000.

Revenue for the LLP, which includes the firm’s UK business, as well as subsidiary undertakings and joint ventures in the US, Ireland, Israel and a branch in Dubai, rose by 15% to £281.5m, up from £244.7m the previous year.

Profit before tax for the LLP was up by 18.5%, from £98.2m to £116.3m.

The firm, which operates under an international verein model, last summer reported total global revenues of £526m for 2024-25. However, the merger with US firm Winston will see Taylor Wessing’s UK business split from the verein, with the French and German arms of the firm retaining the Taylor Wessing brand and operating under a cooperation and referral arrangement.

While Taylor Wessing’s UK profit per equity partner (PEP) figure of £1.1m is significantly lower than Winston’s 2024 PEP of $3.5m (£2.6m), the top earner figure of £10.4m does indicate the the firm already has capacity to suitably reward its best performers.

The accounts also show that staff costs increased by 11% from £92.2m to £102.4m, in part due to an increase in headcount. Total staff increased by 5.4% from 797 to 840, while the number of fee earners increased marginally from 379 to 386.

The accounts state that ‘total remuneration for key management personnel’ was £10.7m, up from £9.3m, without specifying who key management personnel included.

A breakdown of revenue by region was also not disclosed, with the accounts stating that: ‘The board considers that such a disclosure would be prejudicial to the interest of the group.’

At the same time, Herbert Smith Freehills Kramer (HSFK) has also released its UK LLP accounts for 2024-25, the final full year before the transatlantic merger of Herbert Smith Freehills and Kramer Levin, which went live on 1 June last year.

The accounts show a revenue increase of 4% to £1.346bn, and on operating profit of £477.6m, up 9% from £438m.

Last July the firm reported that PEP had grown by 8.6% to £1.428m.

Staff costs increased by 6.5% to £649.1m, as the average number of staff employed during the year rose by 3.3% to 4,566.

The best-paid partner, ‘inclusive of other benefits and payments’, received £3.3m, up 10% from £3m.

The share of profits and salaries awarded to key management personnel – which includes the global CEO, regional and practice leadership, CFO, chief people officer and chief client officer – was £11.3m, up from £8.2m in 2024.

The accounts also provide a breakdown of revenue, with the firm’s UK and US offices contributing 48.5%, marginally down from 49.2% last year. Revenues from Australia inched up from 28% to 28.6%, while Continental Europe, Middle East and Africa was up from 14% to 14.8%. Asia saw a slight dip from 8.8% of total revenue to 8.2%.

The HSFK merger, which went live in June 2025, just seven months after the deal was first announced in November 2024, has created a firm with around 630 partners across 26 offices. Based on Kramer Levin’s account filings early in 2025, the merged firm will have projected revenues of around £1.7bn ($2.3bn), placing it on the fringes of the top 20 firms in the world by turnover.

eliza.winter@legal500.com

Gibson Dunn and Sullivan & Cromwell lead $1.25trn SpaceX merger to takeoff

Gibson Dunn and Sullivan & Cromwell have advised on the combination of SpaceX and xAI, two companies privately owned by Elon Musk.

The deal creates a company with a joint enterprise value of $1.25trn, and comes amid reports that Musk may take SpaceX public later this year, in what could become the largest IPO in history, estimated to raise up to $50bn.

Gibson Dunn advised Texas-headquartered SpaceX, with a team featuring some of the firm’s most senior lawyers, including global M&A co-chairs Robert Little and George Sampas in Dallas and New York, alongside capital markets co-chair Hillary Holmes, who co-heads the Houston office.

The team also included corporate, tax, competition, trade and finance partners across Palo Alto, Washington DC and Brussels, with newly promoted competition partner Alana Tinkler representing the London office.

S&C acted for xAI throughout the merger, with a team led by Palo Alto co-managing partner and tech M&A head Mike Ringler and M&A partner Peter Jones.

The firm’s team spanned Palo Alto, Washington DC and New York, with London involvement including antitrust co-head Juan Rodriguez.

Gibson Dunn also advised SpaceX on its September 2025 acquisition of satellite company EchoStar’s full portfolio, valued at $17bn, with Sampas and Little also on the deal team.

For its part, S&C has also worked with other Musk companies in the past, including representing Tesla before the Delaware Supreme Court, where it successfully reinstated the ten-year incentive compensation plan for the CEO last December.

In a statement regarding the merger, Musk said that the combination will allow faster growth for AI, as he plans to build data centres on the moon.

Musk said: ‘My estimate is that within two to three years, the lowest cost way to generate AI compute will be in space.’

‘This cost-efficiency alone will enable innovative companies to forge ahead in training their AI models and processing data at unprecedented speeds and scales, accelerating breakthroughs in our understanding of physics and invention of technologies to benefit humanity,’ he added.

kate.peacock@legal500.com

Outgoing Unilever GC set to take up top legal role at Rolls-Royce

Unilever’s chief legal officer is leaving the company at the end of the month to take up the top legal post at British aerospace and defence giant Rolls-Royce.

Maria Varsellona joined Unilever in 2022, after holding several senior legal roles in-house. She will start her new post as chief legal officer at fellow FTSE 100 company Rolls-Royce on 1 March.

Her move to Rolls-Royce comes as the company’s long-serving GC, Mark Gregory, prepares to step down.

Before joining Unilever, Varsellona was GC at Zurich-headquartered electrical engineering company ABB group, having previously spent nearly seven years in senior roles at Finnish telecoms company Nokia. In addition, Varsellona, who began her career in private practice at Greco Law firm,  previously worked at packaging companies Swedish Tetra Pak and Sidel, before joining Unilever.

Gregory has been at Rolls-Royce for more than 20 years, becoming GC in 2015. During this time, he has helped steer the company’s legal team through everything from a high profile Serious Fraud Office investigation, which ultimately led to one of the first ever UK Deferred Prosecution Agreements, a rights issue, to its recent FTSE turnaround as part of CEO Tufan Erginbilgic’s exec team. He is due to leave Rolls Royce at the end of March.

In a post on LinkedIn Gregory said: ‘I’ve had the privilege of serving as General Counsel for over 10 years, working alongside some incredible people, and helping to navigate through some pretty complex and challenging times…
I am going to take some time with my family and friends, reset, and then go again on new adventures.’

Speaking of her move Varsellona commented: ‘After four wonderful years at Unilever, I have decided to step down as Chief Legal Officer at the end of February. It has been a true privilege to support Unilever’s transformation and to work alongside such exceptional colleagues.’

She continued: ‘I have recently found a new source of great inspiration and excitement: On 1st March I will be joining Rolls‑Royce as Chief Legal Officer. It is an iconic company with a remarkable record of excellence, and I look forward to this next chapter and to collaborating with my new colleagues.’

During her time at the helm, Unilever, which owns brands including Dove, Hellmann’s and TRESemmé,  has carried out a number of significant transactions. At the end of last year, Linklaters and Skadden advised as Unilever spun out popular ice-cream business The Magnum Ice Cream Company for $9.2bn. In 2022, the group completed the sale of its tea business, ekaterra, to CVC Capital Partners for €4.5bn advised by Linklaters, while last year the group acquired personal care brand Wild for £230m and men’s personal care brand Dr. Squatch for $1.5bn.

Prakash Kakkad is set to replace Varsellona in the top legal role at Unilever.  Kakkad joined Unilever at the end of 2023 as GC corporate governance & group corporate legal, before being promoted to GC corporate and deputy group secretary nine months later. Kakkad joined the group from Australian mining company BHP, where he served as head of governance -global for two and a half years. Kakkad also worked at Barclays between 2018 and 2021, having joined from the corporate department at Herbert Smith Freehills Kramer, where he began his career.

theresa.hargreaves@legal500.com

Pinsent Masons opens in Warsaw with six-partner team

Pinsent Masons is opening in Warsaw, the firm announced today (3 February), with six new partners hired from DLA Piper, Dentons, Greenberg Traurig, and CMS.

The move, which sees the firm open its ninth office in continental Europe, alongside bases in France, Germany, Luxembourg, Spain and the Netherlands, will see Pinsents establish a presence in Central and Eastern Europe (CEE) for the first time.

The new office will be led by real estate partner Bartłomiej Kordeczka and corporate partner Jakub Marcinkowski.

A Legal 500 leading partner for real estate in Poland, Kordeczka joins from Dentons, where he co-led the Warsaw real estate practice and served as office managing partner from 2023 to 2025.

He joined legacy Salans in 2011 before the Paris-headquartered firm merged with legacy SNR Denton and legacy Fraser Milner Casgrain to form Dentons in 2013.

Meanwhile, Marcinkowski joins from DLA Piper, where he was co-head of the Poland corporate and M&A practice. He spent 12 years at CMS before moving to DLA in 2019, and advises leading CEE clients on a range of M&A, PE, and venture capital transactions.

He is also recognised as a leading partner by Legal 500, for private equity.

Among the six hires are a further two senior partners from Dentons: construction practice co-head Piotr Staniszewski, and banking and finance practice co-head Bartosz Nojek.

The exits leave Dentons with 11 partners in Warsaw in both its real estate and banking and finance practices, according to the firm’s website.

Dentons’ real estate team will be continue to be led by former co-head Piotr Szafarz, while Bartosz Nojek has been replaced as co-head of banking and finance by Tomasz Zwolinksi, who will lead alongside current head Mark Segall.

Also joining Pinsents are M&A partner Blazej Zagorski, formerly leader of the German desk practice at CMS, and real estate partner Maciej Jodkowski from Greenberg Traurig.

The move sees Pinsents follow Addleshaw Goddard, which entered the Polish legal market last year with its acquisition of Linklaters’ Warsaw office, also citing plans for further CEE expansion.

Andrew Masraf, senior partner at Pinsents said of the move: ‘Further scaling up our capabilities in Europe in order to meet the evolving needs of our clients remains a strategic objective for us. Poland, as one of Europe’s most resilient and dynamic economies, adds a valuable component to our pan-European offering. It is a key market for a number of our clients, particularly those in Western Europe, and remains an important investment destination in Central and Eastern Europe.’

Marcinkowski added: ‘Warsaw serves as a strategic base for managing English-law governed transactions across CEE, with substantial demand for M&A, banking and real estate services. Our founding team brings extensive experience in all of these areas, setting us in excellent stead to integrate with Pinsent Masons multi-national network and deliver against both local and international client needs.’

The office is set to open by mid-2026.

Pinsent Masons has confirmed that further hires are soon to follow, as founding partners will look to build out their teams.

eliza.winter@legal500.com

Skadden and Gibson Dunn lead on $58bn oil and gas merger

Skadden and Gibson Dunn have advised US listed companies Devon Energy and Coterra Energy on one of the biggest mergers in the oil and gas industry.

The $58bn deal combines the Oklahoma City-headquartered Devon with Houston’s Coterra under the Devon Energy brand, creating ‘a premier shale operator’, according to Devon CEO Clay Gaspar.

Skadden advised Devon on the merger, fielding a team led by M&A partners Steve Gill, Mingda Zhao and Emery Choi in Houston, and Dohyun Kim and Elizabeth Gonzalez-Sussman in New York.

The firm’s New York team also includes executive compensation and benefits head Erica Schohn and fellow partner Joseph Penko, as well as Michael Hong (capital markets), Steven Messina (finance) and Trevor Allen (tax), alongside North American antitrust head David Wales in Washington DC.

Gibson Dunn look the lead for Coterra, with a team led by capital markets co-chair Hillary Holmes and M&A partner Tull Florey in Houston, as well as M&A partner Andrew Kaplan in New York.

Houston-based oil and gas co-chair Rahul Vashi and finance partner Shalla Prichard also acted on the deal, working with Dallas office co-head Krista Hanvey, who co-chairs the firm’s employee benefits and executive compensation practice, as well as Washington DC antitrust partner Joshua Lipton.

The deal has been unanimously approved by both companies and is expected to close in Q2 of this year.

The combined company will be headquartered in Houston, and together will own 746,000 acres in the Delaware Basin, an oil-rich region across West Texas and Southern New Mexico.

This deal comes two years after another major oil and gas merger, the $26bn combination of Diamondback Energy and Endeavor Energy Partners, a deal which handed roles to Wachtell Lipton Rosen & Katz, Paul Weiss and Vinson & Elkins.

Oil prices have fluctuated recently amid tensions between the US and Iran, with US President Donald Trump hinting at military intervention.

Since then Trump has stated that negotiations with Iran have made progress, and when markets opened on Monday, oil prices dropped by 4%.

kate.peacock@legal500.com

Paul Weiss chair expresses regret over Epstein connections after email revelations

Paul Weiss chairman Brad Karp has expressed regret over his connections to Jeffrey Epstein after communications between the pair were revealed in a extensive release of files relating to the late sex offender.

More than three million pages, images and videos were released by the US Department of Justice on Friday (30 January), after the Epstein Files Transparency Act mandating their release was signed into law last year.

The files contain hundreds of references to Karp, who has led Paul Weiss for 18 years, including an email chain from 2015 in which he refers to Epstein as ‘amazing’ and thanks him for an ‘evening I’ll never forget.’

In the email conversation – which took place seven years after Epstein was first jailed for sex offences, including one charge relating to a minor – Karp (pictured) describes his time at Epstein’s house as ‘truly “once in a lifetime” in every way.’

He goes on to say: ‘I hope to be invited again… you are an extraordinary host.’

Karp’s name appears over 500 times in emails and messages, although many of the references come from duplicated email chains.

Karp’s messages to Epstein include a 2014 request for his daughter to accompany him to a film screening with controversial director Woody Allen, while in 2016, Karp reached out to Epstein on behalf of his son, who wanted to work with Allen on film projects.

In a statement, Paul Weiss said: ‘As has been previously reported, Brad Karp met Jeffrey Epstein through his representation of the former chairman and CEO of Apollo Global Management, a significant firm client.’

‘During the course of that representation, which spanned several years, Karp never witnessed or participated in any misconduct. Karp attended two group dinners in New York City and had a small number of social interactions by email, all of which he regrets.’

Karp’s communications with Epstein also include messages relating to ex-Latham & Watkins managing partner Bill Voge and Goldman Sachs general counsel Kathryn Ruemmler, the former global chair of Latham’s white collar defence and investigations practice.

When news of Voge’s shock resignation from Latham broke in March 2018, after he admitted to ‘communications of a sexual nature’, Karp emailed Epstein, saying ‘I really liked Bill Voge’. The following day, Epstein emailed back, asking: ‘Should Ruemmler be chairman of the firm?’.

Karp replied: ‘Kathy would be great and it would be perceived very positively by the marketplace. There are two downsides: (1) the job is truly 24/7 and the demands (travel, client/partner management) of running a global firm like Latham make my job look like a breeze, and (2) related to the demands, it will be impossible for Kathy to practice law.’

‘So my view, Kathy taking this on would be a real mitzvah for Latham, but at a huge personal/professional cost to Kathy.’

Voge was subsequently succeeded as Latham chair and managing partner by corporate partner Richard Trobman, while Ruemmler moved to Goldman as partner and global head of regulatory affairs in 2020, before being promoted to GC in 2021.

The emails also contain email correspondence from Ruemmler (pictured). After a Christmas Day 2015 message in which Epstein asked his assistant to organise a trip for her, Ruemmler says in a subsequent email: ‘Jeffrey is just being wonderful Jeffrey… I adore him. It’s like having an older brother!’

In one email to Epstein in 2019, Ruemmler said: ‘Am totally tricked out by Unc=e Jeffrey today! Jeffrey boots, handbag and watch!’

Speaking to the Wall Street Journal in 2023, Ruemmler said she regretted ever knowing Epstein. The disgraced financier was arrested in July 2019 on charges of sex trafficking. He died in prison a month later.

Karp and Epstein also remained in contact up to 2019. In February that year, Epstein emailed Karp and said: ‘if your buddy Kraft, needs local palm rep. let me know.’

At the time, Kraft Group billionaire Robert Kraft had been arrested in Florida along with 24 other individuals on the charges of soliciting prostitution. He pleaded not guilty to the charges, which were dropped a year later.

Karp had replied to Epstein: ‘I’m sure he’ll need the best there is.’

In the same email chain, Karp later said to Epstein: ‘Another person, former Pres of Citi, John Havens, just called and needs immediate help.’

Havens, the former president and COO of Citigroup, was one of the others charged along with Kraft in 2019. Both denied the allegations and the charges were later dropped.

In April 2019, Epstein also messaged Steve Bannon, President Trump’s former political chief strategist, and said: ‘Need to work magic to get Brad Karp admitted to Augusta Golf Club.’

Bannon replied: ‘The head of Paul Weiss Brad Karp?’

Augusta National Golf Club in Georgia is the home of the Masters Tournament, and membership is invite-only. Members include the likes of Warren Buffett and Bill Gates.

kate.peacock@legal500.com

Line to the top: more GCs than ever now reporting directly to their CEO, research finds

More heads of legal than ever now report directly to their CEO, according to new research which also found evidence of clients rethinking their relationships with external law firms due to their political stances.

The findings are contained within the Association of Corporate Counsel’s annual Chief Legal Officers Survey, which surveyed more than a thousand chief legal officers and highest-ranked legal executives around the world, covering 20 industries.

This year, 84% of global CLOs said they now report directly to the CEO or top-ranking executive officer at their company, the highest level on record, up from 79% last year and also above the previous record of 80%.

This upward trajectory was mirrored by European respondents to the survey, with 82% saying they report directly to the company CEO, up from 73% last year.

Introducing the results, ACC president and CEO Jason Brown – the former GC of GE Appliances who took over leadership of the organisation last November – described the trend as ‘a fundamental shift’ and said the office of the CLO was becoming ‘increasingly integrated within the C-suite structure’.

‘No longer merely a defensive gatekeeper focusing strictly on risk mitigation, the modern CLO is an “offensive” asset providing proactive strategic counsel,’ he added.

The report found evidence that legal heads are expanding their strategic influence, with almost half (47%) of respondents noting an increased frequency and depth of engagement in board-level discussions and C-suite strategic planning.

In addition, 62% of CLOs now own or directly oversee the corporate secretary function at their company, up from 54% in 2024.

Another key takeaway from the survey was the impact of political developments on the way top in-house lawyers engage with their external law firms, with 13% of respondents saying that they had changed their approach to evaluating and selecting outside counsel.

This was most notable among European respondents, with 18% saying they had changed their evaluation and selection criteria due to recent political developments in the US, ahead of the US (15%) and Canada (14%).

Of the 13% of global CLOs who have changed their approach, 41% specified that they had added new risk categories to their outside evaluation criteria – including vetting a firm’s political affiliations, public statements or client roster – before instructing them.

In addition, 37% of this group went one step further and reported that they had stopped working with specific law firms due to concerns about their political associations, stances on specific policies, and public profiles.

A number of prominent US law firms have been in the spotlight since US President Donald Trump took office for cutting deals with the administration to avoid the impact of his executive orders.

The report also highlighted the impact AI continues to have on in-house departments, both in terms of skills for legal heads and in the deployment of technology in the department.

More than half (52%) of CLOs said they plan to adopt new tech solutions in 2026, up from 44% last year. Generative AI was highlighted as the top priority, with 69% of respondents saying they would invest more in Gen AI over the next year.

theresa.hargreaves@legal500.com

Defining disputes: five blockbuster cases to watch in 2026

After a year in which the courts sent clear signals on how collective and funded claims are likely to progress, the stage is set for 2026 to bring more cases that further push the limits of the UK disputes market.

As long-running disputes move to decisive phases, what matters is not just who wins, but whether the outcome justifies the scale and cost.


A tech showdown in the CAT: Epic Games v Alphabet and Google

In autumn 2026, the Competition Appeal Tribunal will hear a consolidated trial of three claims against Google and its parent company, Alphabet, in what is shaping up to be the CAT’s most complex multi-party case to date.

The first, Epic Games v Alphabet, filed in 2020, saw the creator of Fortnite bring a claim alleging Google abused its dominance in the UK Android app distribution market by forcing app developers to use the Google Play store and its Google Pay billing system, which typically carries a commission of 30%.

The second claim, Elizabeth Coll v Alphabet & others, filed in 2021 by class representative Elizabeth Coll, represents nearly 19.5 million UK Android users in opt-out proceedings seeking over £1bn in damages for alleged overcharging on apps and in-app purchases, again alleging abuse of dominance in the Google Play store.

Lastly, in Rodger v Alphabet & others, Professor Barry Rodger is leading a collective action on behalf of roughly 2,200 UK app developers for similar anti-competitive practices by Google, including inflated commissions and exclusionary conduct.

The trial is listed for approximately 14 weeks from September 2026.

This case crystallises the CAT’s growing role as a forum for global tech disputes, with the current value of claims in the CAT against Google and Apple alone exceeding £30bn.

The outcome will inevitably dictate strategy for both claimant and defendant-side firms in future claims.

Beyond liability, the proceedings are ones to watch as management of aggregate damages methodologies will be tested, an area that drew criticism in early CAT litigation. The outcome of the two collective proceedings, Elizabeth Coll and Rodger, will be of particular interest to funders, for whom the question remains whether returns will match the time and capital required to sustain mega-claims through trial.

The legal line-up

For the claimants, class representative Elizabeth Helen Coll v Alphabet & others: Brick Court’s Mark Hoskins KC and Matthew Kennedy, Monckton’s Ronit Kreisberger KC and Antonia Fitzpatrick, One Essex Court’s Gideon Cohen and Fountain Court’s Hannah Bernstein, instructed by Hausfeld partners Lesley Hannah, Joanna Christoforou and Daniel Hunt.

For the claimants, Epic Games v Alphabet & others: Brick Court’s Colin West KC and David Scannell KC, instructed by Norton Rose Fulbright partners Caroline Thomas, Susanna Rogers and Mark Tricker.

For the class representative in the related case of Rodger v Alphabet & others: XXIV Old Buildings‘ Bethanie Chambers, Brick Court’s Robert O’Donoghue KC and Sarah O’Keeffe, Monckton’s Anneliese Blackwood, and Fountain Court’s Daniel Carall-Green, instructed by Geradin partners David Gallagher, Jennifer Reeves, Patrick Teague and Anthony Ojukwu.

For the defendants, Alphabet, Google, Google Ireland, Google Commerce and Google Payment (Google Asia Pacific and Google UK are also included as defendants in the Rodger v Alphabet & others proceedings): Monckton’s Josh Holmes KC, Kassie Smith KC, Jack Williams, Jenn Lawrence and Luke Kelly, and Hailsham Chambers’ Jamie Carpenter KC, instructed by RPC partners David Cran, Chris Ross and Rathi Thiagamoorthy.


Below the surface: Various investors v Glencore, Ivan Glasenberg and Steven Kalmin

The landmark shareholder group action claim against natural resources titan Glencore is set to reach a conclusion as investors head to the Commercial Court in October for a much-anticipated liability trial.

The UK-domiciled, Swiss-headquartered company and its subsidiaries first came under SFO scrutiny in 2019, following a co-ordinated global investigation into allegations of bribery, corruption, and fraudulent misconduct in South America, Africa and the US dating back to 2006.

For Glencore, this resulted in a 2022 indictment, a guilty plea to seven counts of unlawful activity, and over £1bn paid out in fines globally.

Now four sets of institutional investors are bringing multibillion-dollar ‘stock-drop’ claims under sections 90 and 90A of the Financial Services and Markets Act 2000 against the company, its former CEO Ivan Glasenberg and current CFO Steven Kalmin. The shareholder liability claim rests on alleged ‘untrue and misleading statements’ in the company’s prospectus and arose because of ‘Glencore’s failure to disclose that bribery, corruption and fraud were prevalent in the business activities of key operating subsidiaries.’

The case will be watched closely across the litigation market for what it indicates about the ever-evolving law of reliance; crucially, how proof of reliance may be established where passive investors relied on the integrity of the market and price formation.

Keith Thomas, head of securities litigation at Stewarts, highlights its importance, saying that ‘the decisions on a number of key untried issues will move the whole jurisdiction forward’ – provided, he adds, that the case does not settle, a hallmark of 2025 securities claims.

The legal line-up

For the Legal & General claimants: Brick Court’s Mark Howard KC, Maitland’s David Mumford KC and James Kinman, 4 New Square’s Robert Marven KC, and 3VB’s Philip Hinks, instructed by BCLP partners Ravi Nayer, Ben Blacklock and Rhys Corbett.

For the claimant, Aabar Holdings: Fountain Court’s Bankim Thanki KC, Nicolas Damnjanovic, Kit Holliday and Sam Burns, and 3VB’s Adam Kramer KC, instructed by Quinn Emanuel partner Julianne Hughes-Jennett.

For the Stewarts claimants: 3VB’s Andrew Onslow KC, One Essex Court’s Richard Mott and Sabrina Nanchahal, and 4 New Square’s Usman Roohani, instructed by Stewarts partners Keith Thomas, Elaina Bailes, Harry McGowan and Joe Mitchell.

For the defendant, Glencore: 4 Stone Buildings’ Richard Hill KC and Greg Denton-Cox and Brick Court’s Tony Singla KC, Kyle Lawson and Jacob Rabinowitz, instructed by Clifford Chance partners Luke Tolaini and Kelwin Nicholls.

For the defendant, Glencore CFO Steven Kalmin: Fountain Court’s Patrick Goodall KC and Rebecca Loverage, instructed by Hogan Lovells partner Philip Parish.

For the defendant, former Glencore CEO Ivan Glasenberg: One Essex Court’s Laurence Rabinowitz KC, Alexander Polley KC and Andrew Lodder, instructed by Steptoe partners Zoe Osborne and Angus Rodger.


Controlling the flow: the Thames Water restructuring

The long-running dispute over the Thames Water rescue returns to the courts in 2026, in one of the most complex restructurings to date.

After years of financial distress, last year Thames Water received a £3bn emergency financing package designed to stabilise the utility short term and avert insolvency. But the court-sanctioned plan was only a temporary solution.

This year, the utility is working toward a longer-term restructuring plan, seeking court approval for one that addresses underlying capital structure and more than £22bn in liabilities.

The first hearing, anticipated in spring 2026, will consider creditor class composition and jurisdiction. A second ‘sanction’ hearing, likely in summer 2026, will determine whether the restructuring plan should be approved and imposed.

The new plan is likely to be hotly contested. Key issues include creditor-on-creditor pressures, valuation disputes, allocation of losses between debt classes, and the extent to which public interest considerations and regulatory obligations should influence the court’s approach.

The stakes are high. Failure to secure approval revives the prospect of a Special Administration Regime (SAR), a route yet to be tested, and one that carries significant political and financial consequences. The outcome will have implications not only for Thames Water but its diverse stakeholders – including Ofwat, the Government, US hedge funds, environmental advocates, and two state-backed Chinese banks.

Other implications include complex valuation methodologies, class selection under Part 26A, and investor confidence in UK infrastructure.

The legal line-up

For the Class A ad hoc group of creditors: South Square’s Adam Al-Attar KC and Edoardo Lupi, instructed by Akin partners Barry Russell, Emma Simmonds, Emma Butler, Kambiz Larizadeh, Alex Harrison and Sam Brodie.

For the plan company, Thames Water Utilities Holdings: South Square’s Tom Smith KC, Charlotte Cooke and Andrew Shaw, instructed by Linklaters partners Rebecca Jarvis, Mark Nuttall, Max Krasner and Euan Clarke.

For the bank supporting creditors: South Square’s Stephen Robins KC, instructed by A&O Shearman partners Tim Conduit, Katrina Buckley and Nick Lister.

For Thames Water: Erskine Chambers’ Andrew Thornton KC and South Square’s Georgina Peters, instructed by Freshfields partners Neil Golding and Lindsay Hingston.


Show me the money: Municipio de Mariana v BHP, phase two

In a significant development for the UK mass tort landscape, BHP’s application for permission to appeal the High Court’s November 2025 liability ruling was recently refused, clearing the way for a quantum trial in October 2026.

The High Court last year found the natural resources giant liable for the 2015 collapse of the Fundão Dam in Brazil that killed 19 people and caused widespread environmental devastation.

Slaughter and May acted for BHP during the liability proceedings, while claimant boutique Pogust Goodhead secured victory for the 600,000 claimants in the largest opt-out class action claim to date and a decisive moment for parent-company liability claims brought in the UK in respect of overseas harm.

With the appeal now closed off, October 2026 will see the claimants seek damages at a value of £36bn, facing off against BHP’s freshly mandated legal counsel, Herbert Smith Freehills Kramer, which replaced Slaughters in late December.

The hotly anticipated decision on quantum will be seismic for the future of the fashionable class action proceedings that populated both the High Court and the CAT in 2025.

Now we will see exactly how much the case was worth, testing not only valuation methodologies in mass tort litigation but the economic sustainability of class actions of this scale. If damages fall significantly short of topline figures, as occurred in Merricks v Mastercard, the outcome could force a recalibration of claimant strategy in future group actions.

The legal line-up

For the claimants: One Essex Court’s Alain Choo Choy KC; Twenty Essex’s Andrew Fulton KC, Alma Mozetic and Jonathan Ketcheson; Temple Garden’s Russell Hopkins and Anisa Kassamali; Cornerstone Barristers’ Hannah Taylor; Serle Court’s Jonathan McDonagh and Sophie Holcombe; and Blackstone Chambers’ Antonia Eklund instructed by Pogust Goodhead’s Jonathan Wheeler alongside Caroline Narvaez Leite, Tom Ainsworth and Rafaela Conte.

For the defendants: Herbert Smith Freehills Kramer, led by Alan Watts.


Dieselgate: Various claimants v Mercedes-Benz Group, Volkswagen, Ford Motor Company, Nissan Motor Co

After nearly ten years of controversy, the Pan-NOx emissions group litigation – or ‘Dieselgate’ – is finally poised to see some movement in 2026.

The group action brought on behalf of over a million diesel car owners against five of the world’s largest car manufacturers accused of manipulating emissions tests kicked off in the High Court in October 2025, with liability to be decided in mid-2026.

The scale and breadth alone make this case one of the most closely watched group actions in recent years. If the claimants win, the compensation phase could lead to billions in payouts, and set an important precedent for consumer-environmental litigation.

Beyond quantum, the litigation is expected to test the effectiveness of the UK’s collective redress regime in handling complex data-heavy disputes involving multinational defendants and long-running regulatory investigations.

The legal line-up

For the claimants: Blackstone Chambers’ Tom de la Mare KC and Ben Jaffey; Henderson Chambers’ Oliver Campbell KC, Rachel Tandy and Freya Foster; 3VB’s Adam Kramer; 2 Temple Gardens’ Gareth Shires, Jessica van der Meer, Sam Stevens and Anna Dannreuther; and Matrix Chambers’ Joanna Buckley, Kate Boakes and Catherine Arnold instructed by Pogust Goodhead’s Anna Varga, Erika Saluzzo, Oliver Shipway, Matthew Newbould and Melissa Ferrari, Hausfeld’s Nicola Boyle, and partners from Milberg London and Leigh Day.

For the defendants: Brick Court’s Tom Adam KC, Richard Blakeley KC, Zahra Al-Rikabi and Camilla Cockerill  instructed by HSFK’s Natasha Johnson, Alan Watts, David Bennett and Philip Lis for Mercedes-Benz Group; Blackstone Chambers’ Brian Kennelly KC and Rayan Fakhoury instructed by Freshfields partners James Roberts and Simon Duncombe for Volkswagen; Monckton’s George Peretz KC and 2 Temple Gardens’ Ben Phelps instructed by McGuireWoods partners William Boddy and Chloe Steele for Ford Motor Company; Monckton’s Anneli Howard KC and One Essex Court’s Stephen Auld KC and Simon Gilson instructed by Hogan Lovells partners Matthew Felwick and Valerie Kenyon for Nissan Motor Co; Fountain Court’s Leigh-Ann Mulcahy KC and Brick Court’s Charlotte Tan instructed by Cleary partners James Brady, Kathryn Collar and Pablo Mateos Rodriguez for Vauxhall; Crown Office Chambers’ Alexander Antelme KC and Richard Sage and Brick Court’s Fred Wilmot-Smith instructed by Signature partner Tom Snelling for Renault.