RSGI’s Post

💷 Top 30 law firms by UK revenue and what we can learn from this data... 💷 As a lawyer who is thinking about a move, or someone ready to make applications, getting a “big-picture perspective” on the market in London can help you make important decisions. Analysing data like this allows you to understand things like:  - Who really are the biggest players?  - What practice areas and trends are driving changes to these figures? When assessed solely based on their UK revenue, the research reveals that 12 out of the top 30 firms are from the US, with an additional two based in Asia. Among the US-based firms, Latham & Watkins and Kirkland & Ellis are at the forefront in terms of UK revenue, securing the sixth and eighth positions in the rankings. This aligns with the trend of US firms gradually encroaching on UK market share. However, the top five Magic Circle firms, maintain a strong lead. UK firms represent 60% of the total revenue (62% if Ashurst is counted as UK). Among the top 15, this figure slightly rises to 65%. This indicates that while US influence in London has grown significantly, it's not dominating. The real progress of US firms seems to be in the lower half of the top 30, where UK firms contribute less than 40% of the $3.8bn revenue. Consequently, some UK firms have dropped out of the top 30, struggling to compete, particularly in areas where American firms excel, like private capital markets. However, we have seen certain UK firms consolidate their presence in niche markets, such as Clyde & Co, which focused on its reputation as an insurance powerhouse to protect the UK insurance market from US competitors. A handful of UK firms also dominate the IP space. In the future, the Allen & Overy/Shearman & Sterling merger may signal a trend of US firms teaming up with midsize UK counterparts (and vice versa) to bolster market position and competitiveness. Let me know if you have any other takeaways to add and stay tuned for developments! Figures from law.com (22/23)  Graph featured in Sonder Consultants Global Legal Market Trends Report 

Head of Regulatory, Wesley Thompson discusses how law firms adapted post-pandemic, navigating SRA applications, private equity structures, and regulatory challenges. https://lnkd.in/eHgGCf_Q #regulatory #SRA #PrivateEquityStructures

Directors' Liability & Companies Act - In our latest article Jaco Fraser unpacks the judgment in the matter of Dimension Data Facilities (Pty) Ltd and Others v Identity Property CO (Pty) Ltd and Others (2022/040174) [2024] ZAGPJHC 1209. The judgment raises important considerations under the Companies Act 71 of 2008, in respect of the liability of directors that acted in a ‘brazen and dishonest’ manner to the prejudice of the company and its shareholders. Importantly, the amendment to Section 77(7)(c) of the Companies Act will significantly extend the scope of director liability, effectively paving the way to hold directors accountable that acted brazenly and dishonestly beyond the previously established three-year period. The article can be accessed below: https://lnkd.in/gu9HiwCF

Thanks again to all the organisers of the excellent LF Dealmakers 7th Annual Forum in New York last week with its focus on #litigationfinance. Below Hash Dave and Tom Steindler share their key takeaways: 𝗦𝗼𝗽𝗵𝗶𝘀𝘁𝗶𝗰𝗮𝘁𝗲𝗱 𝗨𝗦 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 The US litigation risk insurance market is sophisticated in terms of products being developed by brokers working closely with the carriers. Not only judgement preservation insurance and capital protection insurance but also mention of some forms of insuring a minimum investment return .   𝗖𝗿𝗲𝗱𝗶𝘁 𝘃𝘀. 𝗘𝗾𝘂𝗶𝘁𝘆 𝗔𝗽𝗽𝗿𝗼𝗮𝗰𝗵𝗲𝘀 We saw a clearer differentiation in strategies between funders, with some funders taking a credit-focused approach while others remain committed to the more “typical litigation fund model” of non-recourse and equity-like.   𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗶𝗻 𝗧𝗲𝗰𝗵 & 𝗔𝗜 Not surprisingly perhaps, there was quite a lot of talk about technology platforms being developed to facilitate primary and secondary deals which utilised AI for elements of the investment process such as origination and underwriting, with some specialising in specific areas such as international arbitration.   𝗟𝗼𝗯𝗯𝘆𝗶𝗻𝗴 𝗘𝗳𝗳𝗼𝗿𝘁𝘀 𝗳𝗿𝗼𝗺 𝗕𝗶𝗴 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 There are increasing concerns about the ongoing lobbying efforts to push for third-party funding disclosures, in terms of the source of the funding under the guise of national security and the funding terms themselves.    𝗡𝗲𝘄 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗶𝗻 𝗟𝗮𝘄 𝗙𝗶𝗿𝗺 𝗢𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 Arizona's approval of alternative business structures for law firms, allowing non-lawyers to own and control firms (similar to the UK), has attracted significant attention from both funders and lawyers, opening up new investment and operational opportunities.   𝗨𝗦 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘁𝘆 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗣𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀 The US boasts a deep pool of specialty finance platforms, with a wide range of credit providers offering tailored solutions around the legal and disputes sectors. For those who attended, what else would you add? Please be in touch @Exton Advisors or comment below 👇 #disputesfinance #thirdpartyfunding #legalfinance #litigation #arbitration #independentview #complexitysimplified  

There are many inherent risks associated with M&A that may have a direct impact in the financial health of any company involved in this process. There are also several risk management and insurance coverage available that would protect said companies, in case things don’t turn out as expected. Understanding the terms and conditions of your D&O Policy / Management Liability Program will help you navigate the upcoming wave of M&A activity in a cost effective and efficient way. Here is an interesting article about coverage considerations when facing potential M&A. Thanks for sharing!

Liverpool and London-based law firm O'Connors Legal Services Limited has launched a new service called PLUS+ which enables lawyers, accountants, and other professional advisers to add O’Connors’ insurance and legal/financial services regulatory expertise to their advisory team when helping clients to manage risks in projects and transactions. With the backing of PLUS+, professional advisers can forge new client relationships in regulated sectors, strengthen existing client relationships, overcome project and transaction obstacles, and deliver better results for their clients. Commenting on the launch of PLUS+, Josh Bates said: “O’Connors has been supporting professional advisers involved in major projects and transactions on insurance and regulatory matters for many years and we have taken the opportunity to bundle the offering and recruit a team that can take the proposition to a wider national audience. There is nothing more satisfying than collaborating with fellow professionals to become part of their trusted advisory team and assisting them in bringing their clients’ deals to fruition.” https://lnkd.in/eHckk5Dt #legaltechtalk #legaltech #legal #productlaunch #law

Business owners need to determine if the CTA applies to them and, if so, how to comply. The Client Alert below from my colleague, Janel Clause, Esquire, will tell you all you need to know.

We are pleased to share that Nelson Mullins Riley & Scarborough received new rankings by Chamber and Partners in the outlet’s Chambers USA 2024 Guide. The firm was ranked in dozens of practice areas, along with over 110 attorneys. Eight of the firm’s practice areas were ranked nationally with 26 lawyers also receiving national rankings. This year, Nelson Mullins received a Band 1 ranking in the following 12 practice areas and jurisdictions: Construction (Florida) Tax Law (North Carolina) Healthcare (North Carolina) Energy & Natural Resources (North Carolina) Banking & Finance (South Carolina) Corporate/M&A (South Carolina) Environment (South Carolina) Healthcare (South Carolina) Litigation: General Commercial (South Carolina) Litigation: General Commercial (West Virginia) Healthcare (USA Nationwide) Product Liability: Automobile (USA Nationwide) There were also four newly ranked practice areas this year including: Litigation: Product Liability (Florida) Labor and Employment (Maryland) Insurance (North Carolina) Real Estate (South Carolina) Read more: https://lnkd.in/em6hHBXP

📊 Is your business keeping up with corporate entity maintenance? It's not just paperwork—it's protecting your company's legal status and limited liability! Key takeaways: • Periodic reports and tax filings are crucial • Keep accurate records of meetings and decisions • Stay compliant with state regulations Don't risk penalties or loss of good standing. Learn more about effective corporate entity maintenance and why it matters for your business success in our latest blog post: What is Corporate Entity Maintenance? https://hubs.la/Q02JFLdV0 #CorporateCompliance #BusinessTips

As we prepare for future industry challenges, the discourse around third-party litigation funding must become a priority for leaders across sectors. By addressing the known unknowns of this practice, we can work towards a safer and more transparent legal environment—one that not only safeguards corporate interests but also fortifies the competitive integrity of U.S. businesses against foreign adversarial tactics. #ThirdPartyLitigationFunding #Insurance