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• US companies to spend less on defending class actions in 2012

  Apr 30 2012 A new survey shows that US companies plan to spend less money on defending themselves against class action claims, despite a predicted increase in the number of suits... more

• When large law firms fail, we need to re-examine the business model

  Apr 24 2012 Here is a very good article that addresses the question of why large law firms fail. The article points out that a dozen firms that have folded over the past ten... more

• Law firms take top spots in ranking of DC retirement plans

  Apr 11 2012 Law firms in Washington DC have taken the first five places in a ranking of business retirement plans. The survey, conducted by financial advisor BrightScope, looked... more

• Court orders lawyers from Eaton Peabody and Baker & Hostetler to reduce fees

  Apr 06 2012 A US court has ruled that that lawyers from Eaton Peabody and Baker & Hostetler overcharged for legal work, inflating their charges with overstaffing and redundant... more

• Corporate lawyers leave large firms to join small firms

  Mar 28 2012 The legal industry has changed considerably since the global financial crisis in 2008. And while much attention has been given to the mergers between mid-sized firms,... more

• UK firms just outside the top 25 see biggest income growth in 3rd quarter

  Mar 14 2012 Fee income is growing in the UK, with the firms ranked 26-50 seeing the biggest income growth, at around 10 per cent. The figures come from a quarterly survey by... more

• Opponent of QC system is appointed as a silk

  Mar 07 2012 One of the 88 barristers to be appointed to the prestigious title of QC was previously an opponent of the QC system, supporting its abolition in an open letter to the... more

• Russian oligarchs head to London

  Feb 27 2012 Here is an interesting article about the increasing presence of Russian oligarchs in London Courts. According to the article, London has become the preferred... more

• Law firms remain cautious in recruitment despite recovery

  Feb 01 2012 This article in the Wall Street Journal points out that law firms are finally starting to recover from the recession, but that the returning good fortune is not being... more

• Olswang's profits down, Charles Russell's profits up

  Jan 30 2012 Olswang’s limited liability partnership accounts show that the firm’s profits fell from £31.6m in 2009-10 to £29.3m last year. The firm’s highest paid member took... more

• British government cuts spend on external legal advisors by 36%

  Jan 29 2012 An account of the British government’s spending on legal services has shown a drop in the amount spent on external advisers, which was a third less than last year.... more

• Integreon launches first LPO facility onshore in the UK

  Jan 28 2012 Legal services outsourcing firm Intergreon has launched its first centre in the UK, offering temp paralegal services to clients from its new base in Bristol. The... more

• 2011 a tough year for securities class action lawyers

  Dec 21 2011 2011 will be chalked up as a loss for most securities class action lawyers, who saw fees and expenses drop from $1.4 billion last year to $594 million so far this... more

• Scottish legal market looking up

  Dec 18 2011 There has been significant improvement in the Scottish legal market, according to a new survey of the country’s top firms conducted by industry advisors PKF. The... more

• US companies increase reliance on in-house counsel

  Oct 12 2011 A recent survey shows that US companies increased their in-house legal budgets by 6 per cent in 2010, up from 1 percent in 2009, while decreasing the amount spent on... more

• SNR Denton to grow lower-cost service in profitability push

  Oct 11 2011 SNR Denton has announced a number of measures designed to boost profitability in the UK, including increasing the size of its lower-cost legal services office in... more

• New players in the litigation funding game

  Oct 05 2011 There is growth in the “alternative litigation funding” market this year, and while some firms remain wary of litigation funding arrangements, others welcome their... more

• Axiom Law finds success offering cheap legal services

  Sep 16 2011 Interesting article here about Axiom Law – a legal service provider successfully operating in Washington DC with a very non-conventional structure. According to the... more

• Are clients really getting better value from law firms?

  Aug 24 2011 This is an interesting opinion piece that interrogates the response given by large law firms to client demands for greater efficiency. It points out that for all... more

• Canadian law firms weather the economic storm

  Jul 06 2011 Canadian law firms seem to have weathered the financial crisis and recession without seeing any major firms go under, without serious hits to the bottom line, and... more

• The third tier of US lawyers

  Jun 16 2011 There is interesting coverage in the Wall Street Journal on the creation of a ‘third tier’ of legal practitioners in the US: temp or contract attorneys that perform... more

• Study reveals controversial billing practices at large firms

  Jun 10 2011 A new study looking into law firm billings has armed general counsel with information that will help them to negotiate reduced fees. The study, conducted by legal... more

• Cambridge University tops UK law school rankings

  May 26 2011 The Guardian’s annual rankings for British law faculties have put Cambridge University at the top of the list with a score of 100/100 pushing Oxford into second place... more

• Australian firms saw increase profits in 2010

  May 24 2011 A new study has shown that 70 per cent of Australian firms increased their profits in 2010. The study, conducted by Macquarie Relationship Banking, went beyond the... more

• New York firm interrogates legal fees

  May 12 2011 After spending 18 years litigating legal bills for insurance companies, David Paige has a finely tuned sensibility for finding questionable legal charges. And now he... more

• The Indian legal market - problems and prospects

  May 12 2011 The Lawyer has hosted a series of discussions on issues arising from the Indian legal market. The panel was chaired by Law Society chief executive Des Hudson, and... more

• UK top 50 firms expected to report flat revenues and profits

  Apr 14 2011 The top 50 firms in the UK are predicted to report flat revenues and profits in the 2010/11 financial year, according to Jomati consultant Tony Williams and... more

• With flat demand and revenue, how do we account for 2010?

  Mar 11 2011 Law firm profits and lawyer productivity were strong in 2010 compared to a poor showing in 2009. But it is too soon to celebrate, says this article on the AM Law... more

• University of Chicago and Howard University law schools: best value in US education market

  Mar 06 2011 The law schools at the University of Chicago and Howard University represent the best value for money in the US law school market, according to a list published in the... more

• NY lawyers charging over $1000 per hour

  Feb 23 2011 While lawyers across the industry have suffered from redundancies and pay freezes as a result of the recession, there are some lawyers who are still enjoying high... more

• Malcolm Gladwell publishes alternative law school rankings

  Feb 21 2011 Malcolm Gladwell has published an article in the New Yorker challenging US News’s college and law-school rankings. Gladwell says that by failing to take into account a... more

• Deutsche Bank pushes advisors to use LPOs

  Feb 18 2011 Deutsche Bank wants its legal advisors to step up their use of legal process outsourcing to reduce costs. The bank is nearing the conclusion of the first formal... more

• After a bumper year in 2009 Crowell & Moring posts more modest results

  Feb 17 2011 After reporting one of the best financial years in its history in 2009, Crowell & Moring has seen profits and revenues fall somewhat in 2010. The firm’s gross... more

• King & Spalding increases revenue and profits

  Feb 14 2011 King & Spalding increased revenue by 6 per cent to $718.2 million in 2010, while profit per equity partner jumped almost 18 per cent from $1.47 million in 2009 to... more

• Addleshaw Goddard shifts routine legal work away from associates

  Feb 08 2011 Addleshaw Goddard is the latest firm to announce that it will send low-level legal work to a transaction services centre. The firm’s stated aim is to free associates... more

• Australian judge warns of the rise of legal process outsourcing

  Jan 31 2011 Respected jurist Chief Justice Jim Spigelman, of the New South Wales Supreme Court in Australia, has warned Australian commercial lawyers that outsourcing legal... more

• India (Comment): The Irony of Law School

  Jan 25 2011 If law schools are brought into existence to serve a social purpose and create ‘socially conscious’ individuals as they claim to do so, then the prevailing structure... more

• Taking the shears to equity partnerships in 2011

  Jan 19 2011 2011 will be another slow year for law firms, according to the 2011 Client Advisory released by consultants at Hildebrandt Baker Robbins and the Citi Private Bank... more

• Mergers point to shift in legal services industry

  Jan 02 2011 Two recent mergers have highlighted changing currents in the legal services industry. Thomson Reuters' purchase of legal-process outsourcing firm Pangea3 and Axiom... more

• Billing rates at US firms up by less than 3%

  Dec 09 2010 The tough economic environment has chilled fees, with average law firm billing rates increasing by a mere 2.7 percent in 2010. This is the second consecutive year that... more

• Dewey & LeBoeuf follows Cravath bonus scale

  Dec 08 2010 Dewey & LeBoeuf has announced bonuses for its US counsel and associates, with the firm essentially following the scale set by Cravath, Swaine & Moore. The... more

• What do Indian lawyers earn? Salve, Rohtagi and Manusinghvi at Rs. 25 Lakh per day!

  Dec 08 2010 This week’s edition of India Today gives a list of Senior Counsels and famous litigating lawyers and their average fee per appearance and per day. The list includes 8... more

• Judicial accountability requires that lawyers be accountabile

  Dec 02 2010 We can’t talk of judicial accountability unless we talk of our own accountability as lawyers’. The phenomenon governing the Bar has not all been enthusing: there... more

• Virtual law firms face regulatory obstacles

  Nov 26 2010 Virtual law offices are increasingly appealing to lawyers as technological advances re-shape the way that legal services are provided. The virtual office allows... more

• In-house legal departments slash spending

  Oct 20 2010 A new survey reveals that in-house legal departments have cut spending for the first time in a decade. The survey, conducted by legal consultants Hildebrandt Baker... more

• Baker & Hostetler set to make $100 million in legal fees after Madoff ponzi scheme

  Oct 12 2010 Bernard Madoff may have been a scourge to his investors, but legal work on the infamous Ponzi schemer's bankruptcy continues to pay handsome dividends for Baker &... more

• Lawyers protest deregulation of UK legal industry

  Sep 23 2010 A protest outside London’s High Court yesterday saw lawyers handing out cans of baked beans branded with the slogan “Legal services by supermarkets is as ridiculous as... more

• European GCs say the party is over

  Sep 20 2010 At a roundtable discussion at London's College of Law yesterday, general counsel from major corporations including Royal Dutch Shell, Nokia Corporation, and British... more

• High profile Australian lawyer attacks profession for overcharging

  Sep 16 2010 Brian Bartley, the Chairman of the Queensland Law Society's ethics committee, has accused Australian law firms of overcharging clients by using secretaries as... more

• Robust growth for fees in the heart of the recession: US Report

  Sep 09 2010 Among all the talk of increased competition and clients demanding more value from legal practitioners, a new report from CT TyMetrix and the Corporate Executive Board... more

• US firms sweeten the deal for start-ups

  Sep 09 2010 Faced with a fiercely competitive market for legal services, a number of large firms dealing with start-up clients are finding ways to make their services more... more

• London's top earners see billings drop by £875,000

  Sep 07 2010 New figures show that partners in London’s top 10 law firms saw their fees drop by an average of £875,000 per partner during the economic downturn. Recruitment... more

• Arbitration processes don't live up to promise

  Sep 03 2010 The promise held out by the arbitration industry is that it will be quicker, cheaper, and more private than litigation. Many litigators, however, have found that the... more

• High fee potential in family law? BigLaw may want to take a look

  Sep 01 2010 The view that family law is not lucrative enough to attract the interest of large law firms may be changing, in light of a recent series of divorce cases that earned... more

• The billable hour isn't going anywhere soon

  Aug 30 2010 The billable hour is seen as rewarding inefficiency, putting intense and unhealthy pressure on associates and undermining the culture of law firms and the profession.... more

• Law firms battle over 9/11 fees

  Aug 25 2010 Two law firms are in dispute over fees charged by a firm that represents workers who suffered respiratory diseases and other injuries in the rescue and debris-removal... more

• Website provides instant price comparison for legal services

  Aug 19 2010 The proliferation of websites claiming to allow consumers easier access to legal services professionals at the right price continues. This latest offering, called... more

• New website opens up the market for legal services

  Aug 12 2010 A new website may change the way that small clients connect with legal services professionals. bid4fees.com allows users to advertise their legal problem, while... more

• New opportunities for boutique firms in the modern marketplace

  Aug 11 2010 As international law firms have grown in size and influence, boutique firms are emerging to take up ground in niche legal markets. These boutique firms are often... more

• MJ Hudson set to launch on private equity under new UK laws

  Jul 20 2010 MJ Hudson is set to become the first UK firm to take advantage of new laws allowing investment in legal practices, launching on the finance of a group of buyout firms.... more

• UK's biggest immigration law firm goes under

  Jun 18 2010 The UK’s biggest immigration law firm has gone under, citing a crippling lack of cash flow from unpaid government-funded representations. Refugee and Migrant Justice,... more

• CitiGroup Inc unwilling to pay for work by summer associates

  Jun 09 2010 Citigroup Inc has told its external lawyers that they will no longer for the labour provided by law students on summer associateship programs. The new policy is set to... more

• Survey finds lawyers charge different fees for different clients

  May 26 2010 A new survey examines the billing practices of over 4000 law firms, 50,000 individual billers and 18.9 million invoice items, to find that firms are charging different... more

• Eversheds' interest in criticism

  Mar 29 2010 A new report has concluded that the ‘Magic Circle’ tag has lost its currency. The report, commissioned by non-Magic Circle firm Eversheds, focuses primarily on the... more

• Eversheds report predicts drastic changes to the legal services industry

  Mar 19 2010 Eversheds has released a report entitled 'Law Firm of the 21st Century: the Clients’ Revolution', which tries to anticipate the medium to long term effects of four key... more

• Eversheds considers taking shares in exchange for legal services

  Mar 18 2010 The industry-wide discussion about alternative billing options is developing, as UK firm Eversheds considers taking shares in client companies in exchange for legal... more

• Success Fees in UK Defamation Cases Reduced by 90%

  Mar 04 2010 UK Justice secretary Jack Straw has taken action to lower the maximum success fees that lawyers can charge in defamation cases from 100 per cent to 10 per cent.... more

• Why it took $642m in fees to dismantle Lehman

  Feb 22 2010 Lehman’s bankruptcy is believed to be the largest in US history. A new regulatory filing revealed that various consulting and legal firms and other lucky advisors... more

• US law firms expect to raise billing rates in 2010

  Jan 28 2010 Most US law firms plan to increase their billing rates in 2010, according to a survey by management consulting firm Altman Weil Inc. Larger firms anticipate a... more

• Advisers get more than $500m in Lehman wind-down

  Jan 19 2010 28 law firms, financial advisers, investment banks and consulting firms involved in the winding down of Lehman Brothers have received $568.7 million in fees, The Wall... more

• Weil Gotshal's Lehman fees reach $127m

  Dec 15 2009 Weil, Gotshal & Manges has billed Lehman Brothers $127.1 million in fees and expenses for its role as lead debtors' counsel. According to a new bankruptcy report... more

• Law firm sues Rod Stewart for $3.3 million

  Nov 20 2009 Prominent entertainment law firm Glaser, Weil, Fink, Jacobs, Howard & Shapiro is is suing Rod Stewart for $3.3 million in legal fees. The lawsuit claims Stewart owes... more

• Hourly rates at top UK law firms drop by a third

  Sep 21 2009 According to a survey by costs lawyer Jim Diamond, the recession has forced the UK’s largest firms like Freshfields Bruckhaus Deringer and Simmons & Simmons to slash... more

• Companies push law firms to drop 'billable hour'

  Aug 24 2009 In the recession, some major companies are fighting back against law firms' practice of billing them by the hour. A survey found an increase of more than 50% this... more

• Weil Gotshal's Lehman bankruptcy fees exceed $100m

  Aug 19 2009 Weil Gotshal & Manges is set to pass the $100m mark in total billings on the Lehman Brothers bankruptcy, reports legalweek. Weil Gotshal's first request for $55m... more

• Law firm sues former KPMG vice chairman in tax fraud case

  Aug 17 2009 New York tax law boutique Kostelanetz & Fink is seeking more than $1.3 million in fees from Richard H. Smith, a former KPMG vice chairman and partner. In the... more

• Madoff liquidator Baker & Hostetler asks for $14.7 Million legal fees

  Jul 13 2009 Baker & Hostetler LLP, the law firm charged with liquidating Bernard Madoff's defunct firm and marshaling assets for victims of his fraud, on Friday asked a bankruptcy... more

• GM paid Weil Gotshal $54m before bankruptcy

  Jun 16 2009 Before General Motors sought Chapter 11 protection, it paid $54 million legal fees to the restructuring team at New York law firm Weil, Gotshal & Manges LLP, which... more

• Law firms will make millions in GM bankruptcy

  Jun 02 2009 General Motors’ bankruptcy filing today will divert millions of dollars to bankruptcy lawyers at two major New York firms - Weil Gotshal and Dewey & LeBoeuf. more

• What recession? UK lawyers charge $1400 an hour

  Apr 03 2009 UK regulatory lawyers at firms like London-based Simmons & Simmons bill as much as 1,000 pounds ($1,440) an hour for advising clients on the financial crisis and... more

• Latham & Watkins revenues expected down $400m in 2008

  Feb 06 2009 Latham & Watkins is expected to report a significant revenues fall next Monday by up to $400m in the 2008 financial year, according to several sources. This would... more

• $1,000-an-hour bankruptcy lawyer fees excessive?

  Feb 06 2009 Bankruptcy lawyer fees broke through the $1,000-an-hour barrier for the priciest bankruptcy legal advice. Skadden, Arps, Slate, Meagher & Flom's rates top out at... more

• Bankruptcy lawyers ask up to $18.50 per minute

  Jan 28 2009 Bankruptcy lawyers at Kirkland & Ellis LLP are asking as much as $18.50 a minute for bankruptcy work while creditors are recovering less of their loans through company... more

• Judge cuts Dewey & LeBoeuf's "excessive" fees by 20 percent

  Jan 06 2009 The Natonal Law Journal reports that a New York federal judge cut Dewey & LeBoeuf's fees for its work on a securities receivership case by 20 percent to $1.7 million,... more

• Sidley Austin asks $1,100 hourly for Tribune bankruptcy work

  Dec 31 2008 Lawyers at Sidley Austin are asking as much as $1,100 an hour for bankruptcy work on Tribune Co., surpassing the rates charged by Weil, Gotshal & Manges in the Lehman... more

• Allen & Overy half-year results up 11 per cent

  Nov 08 2008 Allen & Overy announced its half-year financial results for the six months ended 31st October, with turnover at £548 million (USD866), up 11% from £593 million for the... more

• Denton Wilde Sapte turnover up 6 per cent at half-year

  Nov 07 2008 Denton Wilde Sapte has grown turnover by six per cent for the first six months of 2008-09. more

• Ashurst turnover grows by 7.5% to £158m

  Nov 05 2008 Ashurst has posted a 7.5% increase in turnover for the first six months of the financial year, with revenues rising to £158m from £147m in the same period last year,... more

• Norton Rose's fee income up 11 per cent

  Nov 05 2008 Norton Rose has seen double-digit growth in its revenues during the first six months of the financial year, with fee income increasing 11 per cent to £141.5m... more

• US corporations spend more on in-house lawyers, less on outside counsel

  Oct 22 2008 Spending on outside law firms by corporate legal departments dropped by a median of 9.1 percent last year, while outlays for in-house legal departments increased by 11... more

• Simpson Thacher to get $300,000 from Treasury Department for bailout work

  Oct 20 2008 The Treasury Department has released its contract with Simpson Thacher & Bartlett. The firm will make $300,000 over the next six months for its work as Treasury's lead... more

• Rethinking legal fees for lean times

  Oct 20 2008 The Association of Corporate Counsel, which represents 23,000 in-house corporate lawyers, last month launched the "Value Challenge," an initiative aimed at spurring... more

• The Skinny on Flat Fees

  Jul 25 2008 'Value pricing' requires managing a new way. Some attorneys claim it really is possible to make more money while charging less. The secret lies in vastly improved... more

• McAfee Sues WilmerHale Over $12 Million in Legal Fees

  Jul 22 2008 Anti-virus software maker McAfee Inc. is embroiled with Wilmer, Cutler, Pickering, Hale and Dorr over $12 million in legal fees incurred in the trial of former McAfee... more

• Survey by Legal Week: City law firm fees will rise despite pressure from clients

  Jun 05 2008 Results of a survey by Legal Week show three-quarters of partners think fees will increase over the year, with nearly a fifth of partners believing clients should... more

• Fees up 9%, PEP up 7% at Watson Farley

  Jun 05 2008 Watson Farley & Williams has become the latest City firm to post its financial results for the 2007-08, with the top 50 UK outfit unveiling a 9% increase in revenues.... more

• Ashurst and Simmons & Simmons turnover up

  May 12 2008 Ashurst has posted a 17% increase in turnover to smash through the £300m barrier, joining top 10 City rival Simmons & Simmons in announcing a double-digit increase in... more

• Revenue record in 2007 for US law firms thanks to M&A boom

  May 02 2008 The American Lawyer reported today that two law firms, Skadden, Arps and Latham & Watkins, broke the industry’s $2 billion gross revenue barrier for the first time. It... more

• Greenberg Traurig bills $1.3M in First Magnus case

  Apr 28 2008 Greenberg Traurig, the main law firm handling First Magnus Financial Corp.'s bankruptcy case, has submitted a payment request totaling $1.36 million. more

• A&O faces costs post-mortem after BlackBerry judgment

  Apr 22 2008 BlackBerry manufacturer Research In Motion (RIM) is set to scrutinise the details of the £5m-plus bill that Allen & Overy (A&O) presented it with following a patent... more