Metro Bank investors mull legal action over accounting error February 10, 2019 Metro Bank is facing a potential looming court action after an accounting error that was detected by the Bank of England caused its shares to plummet. The Sunday Telegraph reported that commercial litigation specialists Stewarts Law had been approached by a number of investors to look into the matter. Stewarts Law partner Clive Zeitman told the newspaper: [...]
Freshfields partner accused of slapping DJ in argument over music February 8, 2019 A senior partner at Magic Circle law firm Freshfields Bruckhaus Deringer has been accused of slapping a DJ in an argument at a cocktail party. Herve Pisani, the managing partner of Freshfields Paris office, was accused of the assault by the unnamed DJ after a party for the firm’s partners in September last year. According [...]
Law firm DWF aims to raise £75m in pre-Brexit March float February 8, 2019 Law firm DWF said it is targeting a March listing on the London Stock Exchange, with plans to raise £75m. That would make its listing the largest undertaken by a law firm so far, outstripping Knights which raised £50m in June. The firm said it expects to announce the final offer price following its marketing [...]
Grant Thornton and the fraudian slip February 8, 2019 David Dunckley could have asked for a better start to his term as boss of Grant Thornton. Since taking over from predecessor Sacha Romanovitch – who quit shortly after being publicly criticised by an insider who claimed to represent 15 partners or directors – Dunckley has already had to deal with revelations of “false entries” [...]
Government promises £8m for court system in review of legal aid reforms February 7, 2019 The Ministry of Justice (MOJ) today announced an £8m investment in the court system as part of a review of the comprehensive changes to the legal aid system made in 2013. The MOJ said it would invest £5m in technology to improve the functioning of the system and a further £3m to support those representing [...]
Legal artificial intelligence startup backed by Mike Lynch valued at $100m after funding round February 7, 2019 Legal artificial intelligence business Luminance has hit a $100m (£77m) valuation with backing from investors that include tech billionaire Mike Lynch. Luminance said today it had raised $10m in a series B funding round that valued the business at $100m. Backers include Lynch’s Invoke Capital, Talis Capital and Magic Circle law firm Slaughter and May. Lynch [...]
Big Four accountants push back against breakup proposals February 7, 2019 The Big Four accountancy firms have fired back at the competition regulator’s proposal to break-up their UK operations. In their responses to the Competition and Markets Authority’s (CMA) outlines for shaking up the audit market, Deloitte, EY, KPMG and PwC all resisted a suggested split. David Barnes, managing director for public policy at Deloitte UK, [...]
Former Linklaters partner sent to jail over sexual assault at Oktoberfest party in Munich February 6, 2019 A former Linklaters partner who was charged with sexual assault will go to jail after he lost an appeal against his sentence. Thomas Elser, a former tax partner in the magic circle firm’s Munich office, was sentenced to three years and three months in prison by a Munich court in February last year. On Tuesday [...]
Noel Edmonds’ lawyer to take on Lloyds Banking Group over Bristol allegations February 6, 2019 Noel Edmonds’ lawyer Jonathan Coad is set to open a new front in his battle against Lloyds Banking Group. Coad tweeted today that he has been instructed by a “lady who is a victim of Lloyds Bristol”. Speaking to Morning Wire Coad said: “I have spoken to a number of people who are victims of [...]
Linklaters blocks former employee bid to expose firm’s ‘struggle with women’ February 6, 2019 Linklaters was yesterday granted a temporary injunction against a former employee who threatened to disclose information about the magic circle firm's alleged "ongoing struggle with women". Linklaters' former director of business development and marketing Frank Mellish threatened to disclose internal information after his contract with the firm was terminated last month. On receiving his final payment [...]