Global firm considers appeal against negligence damages
King & Wood Mallesons is to pay the equivalent of AU$221,000 relating to a case that dates back to legacy SJ Berwin.
A judge in the High Court in the UK awarded the damages to commodity research firm CRU Group after ruling that the law firm was negligent by not identifying and asking for missing documents relating to the termination of CRU’s former CEO in 2007/8.
According to the Law Society Gazette a further claim against the firm was dismissed by Mr Justice Dingemans.
A spokesperson for KWM told the Gazette: ‘The court reached a sensible conclusion of what a lawyer might reasonably be expected to do when faced with a request for urgent advice and found that we met the standard required of expert practitioners in their field. The plaintiff recovered only 5 per cent of the sum they sought from us. We are considering an appeal in relation to that aspect.’
Singapore law firms have opportunities says law minister
The Singapore law minister says that the legal sector still has opportunities despite economic headwinds. The Straits Times reports that K.Shanmugam said that the government will support the profession but that law firms must do what they can to remain competitive. The minister highlighted economic challenges but said that as Asia’s importance in the global economy gains, law firms can find new opportunities to thrive.
US law firm mergers continue pace
The number of law firm mergers in the US in the first quarter of 2016 has kept pace with the same period in 2015. Altman Weil MergerLine reveals that 20 firms combined in the first three months of this year compared to 22 in Q1, 2015. “We know that many law firms are actively looking for attractive small firms to acquire,” says Altman Weil principal Ward Bower, “But those prize firms are getting harder and harder to find. The cream has been skimmed in many key markets.”