Women in Silk: yes we can!

There are celebrations at Serjeants’ Inn Chambers today as our sixth silk in 12 months is sworn in at Westminster Hall. With the appointments of Sarah Clarke QC and Debra Powell QC (as well as Gerry Boyle QC), the set will see its third and fourth women elevated to the senior ranks since February 2016, as Sarah and Debra join Katie Gollop QC and Bridget Dolan QC who both took silk last year.

We know that our four appointments will encourage the other women in chambers to aim high” said Bridget. “Our first female QC in chambers is now on the High Court Bench, but the four recent appointments have certainly changed the profile at the top of chambers with 25% of our silks now women.”

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LK Shields acts for Enterprise Ireland on start-up fund

LK Shields Solicitors acted for Enterprise Ireland in connection with its investment in the AIB Start-up Accelerator Fund 2

The Fund is backed by Enterprise Ireland and ACT’s main expansion fund which includes investment from AIB and other private investors. The investments made by the new Fund will focus on developing high-growth, export-oriented companies in sectors such as Software, Internet, Digital Media, Communications and Mobile.

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KR; ATB; THX… the art of the email sign-off

Every now and then I write an article that creates a burst of excited opinion and animated discussion and last month’s Excellent Customer Service was one such piece – clearly all these articles are obviously the stuff of pure magic but some surpass themselves! And the point that caused so much animated conversation – the manner in which email sign-offs have become at best bland and at worst non-existent.

There will be some now who are thinking, ‘Oh here we go, another digital immigrant who started their working life when email was science fiction and formal letters were penned with a quill… blah blah blah.’ But to many people, these things do matter especially in a professional world where one aspect of excellent customer service is an attention to the little things.

It was the valedictory sign off that exercised debate. With informal emails to clients and colleagues you know well you can take your lead from them, but with those you know less well take more care. The overwhelming opinion is that if you simply cannot be bothered to attend to the proper and polite manner of ending a message, then that says much about the level of care for your recipient.

Luan de Burgh
Luan de Burgh

Is ‘KR’ really appropriate? How much longer does it take to tap ‘a’, ‘n’, ‘k’ and ‘s’ in ‘Thanks’ rather than ‘Thx’? What does ‘Best’ actually mean here all by itself? Of course we all know, but would it not demonstrate a little something more by adding ‘With my best wishes’?

As for some others: ‘Regards’ is acceptable but seems fairly anodyne; ‘Rgds’ – see ‘KR’ above; ‘Warm regards’ – maybe it’s just me but this implies that there is more than one level of regards. At what point does that progress to ‘hot regards’?

Of course, no one is saying that you need to follow Andy Burnham’s fawning and much-ridiculed sign-off to the Prince of Wales, ‘I have the honour to remain Your Royal Highness’ humble and obedient servant’ although the attention to proper procedure is admirable, but whatever you choose, the important point is that it looks like you have made an effort and so to the final point and one which universally irritated – not writing your name.

Almost all of us will have an email signature – name, job title, contact details, possibly a logo and then the ubiquitous disclaimers and exhortations to consider the environment and so on.

Please do not use this as your sign off. It is akin to writing a formal letter and leaving the space below your final line and above your printed name completely blank and it looks incomplete. ‘Oh it’s only an email and no one bothers about that these days.’ Well, some do and it’s the little things that go a long way and stand out that will set you apart, and the level of comment on that very point from so many readers at all levels bears witness to that.

With my best wishes,

Luan

Luan de Burgh of the de Burgh Group is a professional public speaker and presentation coach. More of his articles can be read here

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Lenore Anderson: Harnessing the Power of the Public for Bold Change

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The Lawyer Litigation Tracker explained

Firms and chambers will be able to chart their court appearances for the first time with the launch of The Lawyer Litigation Tracker. Drawing on data from all judgments in English and Singaporean civil courts from 2015 and 2016, The Lawyer Litigation Tracker is unique, building into quarterly rankings.

In this short video, The Lawyer editor Catrin Griffiths and research director Thomas Sturge discuss the forthcoming Litigation Tracker which will unearth vital data for barristers, chambers directors, litigation partners and business development teams in law firms.

While corporate lawyers have long been able to benchmark their activity through the M&A league tables, such research has not been available for litigation market – until now.

You can find out more about how to purchase the reports and data by contacting Richard Edwards at Richard.edwards@thelawyer.com or on 020 7970 4672.

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Mattioli Woods acquires Amati Global Investors

A multi-disciplinary team of lawyers at Walker Morris has advised the specialist wealth management and employee benefits business, Mattioli Woods plc, on its acquisition of Amati Global Investors Limited from Amati Global Partners LLP for £3.33m.

The Walker Morris team was led by Corporate partner John Hamer and supported by Ed Brown, Laura Poole and Luke Riley from Corporate; Andrew Northage and Paul Godsmark (Regulatory & Compliance); Liz Deeley (Employment), Nicola Parkinson (Tax) and Lee Crook (Commercial).

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Jonathan Adkin QC moves back to Serle Court after seven months at Fountain

Serle Court Chambers has lured back commercial silk Jonathan Adkin QC from Fountain Court Chambers, just seven months after he left the New Square set.

Fountain brought Adkin in as part of a major boost to its commercial practice, hiring seven senior barristers last July.

The set also launched a corporate crime practice on the back of the recruitment drive – the first elite commercial set to do so – thanks to the hire of Nicholas Medcroft from Wilberforce and Robin Barclay and Eleanor Davison from Outer Temple. The crime team is led by Richard Lissack QC, who moved over from Outer Temple a few months earlier.

Adkin was one of two QCs to join Fountain Court last July, which also hired Stuart Ritchie QC from Littleton at the same time.

Adkin’s major casework includes the Berezovsky v Abramovich case and the Madoff litigation.

On his return to chambers, Serle Court chief executive John Petrie said: “We are thrilled that Jonathan has decided to return to Serle Court, demonstrating our ability to attract and retain the very best talent at the commercial and Chancery bar. Jonathan was a very popular member of chambers and is welcomed back with open arms.”

Adkin is the second senior silk to do such a U-turn in the last 12 months – a move that is more commonly seen in the solicitors’ profession. Last March 3 Verulam Buildings’ Adrian Beltrami QC revealed he was moving to One Essex Court alongside Sonia Tolaney QC and two juniors. He then reversed his decision – despite having publicly moved all his files to his new chambers – and has remained at his old set.

Fountain Court most recently brought in Anneliese Day QC from 4 New Square in December. Day was named The Lawyer’s Barrister of the Year at The Lawyer Awards 2014.

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Clifford Chance scoops top Co-op Bank role as sale process kicks off

Clifford Chance is advising the Co-op Bank as it begins a formal sale process.

Corporate partner Lee Coney is leading the magic circle team along with partners Iain Hunter, Hilary Evenett and Simon Gleeson.

The group will be advising the bank as it begins the process and explores options to build its capital.

The Co-operative Group is a minority investor in the bank and accepted the financial institution’s decision this morning.

Clifford Chance has a close relationship to the Co-op group, scooping a key advisory role for the group’s banking division on its restructuring in 2013.

Allen & Overy played a key role in the bank’s £1.5bn restructuring plan announced in 2013, acting for the group.

Clifford Chance is one of Co-operative Bank’s panel firms, with the group launching a panel in 2015. It was the first to be created following its split from parent company the Co-op Group.

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Law firm networks flex their cross-border muscle

What do international firms and law firm networks have in common? Most would agree the main similarity is their cross-border appeal. The success of both relies in great part on international networks of firms which become a hook for clients searching for multi-jurisdictional capability.

For many networks, the average number of partner firms involved in a deal is still two, but a look at the key deals and projects involving major input across the piece prove that this is not a failure of the system.

“We anticipate that more jurisdictions will be involved in future deals,” Meritas president and CEO Tanna Moore says. “One of our member firms is working on a deal involving 20 of our member firms. Increasingly, businesses must not only be able to perform locally, but also on a global scale. For this to be feasible, they will require legal advice from other jurisdictions.”

“GCs are starting to see through the ‘emperor’s new clothes’ approach from global law firms”

Michael Siebold

Interlaw chair Michael Siebold says that any change in this number will be entirely client-led, depending on the requirements of each deal or project.

“In some instances there could be a dozen jurisdictions involved in a piece of work, or it could be specific to just one location,” he says. “In our experience it averages out at around two to three jurisdictions, but that’s almost immaterial. What matters is that elite independent networks can flex to the needs of the client with the reassuring depth of expertise wherever they need legal advice.”

Referral systems, and referral tracking, has become the norm for both international firms and independent law firm networks seeking to improve the relationship between lawyers from different jurisdictions.

“Tracking referrals is just one piece of the ­puzzle – we want a clear understanding of how clients’ needs are evolving and how we can deliver a seamless service across continents,” Siebold says. “A robust process for tracking referrals has always been in place, but we are now monitoring and analysing more data to build a detailed picture of how work flows around the network. We have invested in an online digital directory with the capacity to hold more than 10 million individual data records, along with a bespoke client management and feedback system .”

“Every firm’s performance and feedback is reflected in a Satisfaction Index score”

Tanna Moore

Moore adds: “We measure our success with Meritas’ referral reporting program, which has been a core part of our network since its inception. We track all referrals, get peer review feedback from referring firms and clients, and every firm’s performance and feedback is reflected in a Satisfaction Index score. Each firm’s score is available on our website.”

Origination

Deal origination is also changing for networks, with more referrals coming directly from in-house rather than a partner firm.

Lex Mundi, the only network to claim that most of its work involves more than five partner firms, says 50 per cent of its referrals come from clients  and 50 per cent from partner firms.

“Tracking repeat business within the network is done by staying in touch with the clients and the firms they work with”

Carl Anduri

“Our member firms provide aggregated referral information,” Lex Mundi president Carl Anduri says. “Tracking repeat business within the network is done by staying in touch with the clients and the firms they work with. More times than not the clients will continue to work with our firms and have new instructions.”

For others, clients are slowly gaining ground.

“Historically, deals originated from the clients of our network firms but this is changing,” Siebold explains. “General counsel are looking for  quality-assured local expertise in every jurisdiction in which they operate and are starting to see through the ‘emperor’s new clothes’ approach from global law firms who take little more than a logo to some parts of the world. Whereas, the elite networks offer consistent quality throughout the world.”

That is not the rule for all.

“Most new deal work originates from member firms,” Harry Trueheart of TerraLex says. ­“TerraLex teams work together to identify opportunities and make collaborative responses to requests for proposals (RFPs). This will probably remain the case for some time considering the close relationships our members have with their clients, but TerraLex has an ever-growing community of corporate counsel we work with directly.”

Moore echoes this sentiment.

“Most deals at Meritas originate from our member firms and we don’t expect this to change,” she says. “Our firms are looking for a safe place to refer business, and we ensure this with our network’s culture, professionalism and  tight quality controls.”

To see these referrals in action The Lawyer has tracked some of the biggest deals from the most prominent networks from point of origination to closing date.

Asia investment

Interlaw firms represented Asia-based investors Hera Capital Partners Holdings II Pte Ltd and DSG Consumer Partners II in a two-week deal process to expand its business into South East Asia through franchise and/or licensing agreements with business partners in Indonesia, Japan and the Philippines.

The deal, which was originated by Singapore firm Colin Ng & Partners and managed by partner Bill Jamieson, involved three network firms; Indonesia’s Mochtar Karuwin Komar, Japanese firm Momo-o, Matsuo & Namba, and Philippines firm Quasha Ancheta Pena Nolasco.

The turnaround was quick, with firms completing the deal in two weeks with individual agreements with the final client. This was not the first time that Hera Capital Partners and DSG Consumer Partners used an Interlaw firm – they had a previous relationship helping them with their fund formation and investments.

A cross-border sale

TerraLex firm Eugene F Collins acted for long-time client Ross Meadow Holdings on its acquisition of the entire issued capital of RIC Publications Pty Ltd, an Australian-based education publishing business. Their instruction on this matter was thanks to the firms’ involvement in the TerraLex network.

The firm called on Lander & Rogers in Australia, Duncan Cotterill in New Zealand and Fairbridges Wertheim Becker in South Africa to help lead on the transaction.

Eugene F Collins partner Eileen Grace, Lander & Rogers partner Deanna Constable, Duncan Cotterill partner Mark Cathro and Fairbridges Werthaim Becker partner Peter Watts led on the deal from their own jurisdictions.

The deal, which took six months to negotiate and was agreed in early February 2016, involved sales agreements in Australia and Ireland. The acquisition was also debt-financed by both senior and mezzanine debt.

Complexity arose in co-ordinating the legal firms and their time zones; the purchaser entity being controlled by an existing shareholder in the target; and the deliberately ‘light’ legal representation for the remaining shareholders who were selling to the purchaser, requiring Lander & Rogers (as purchaser’s lawyers) to design the seller’s data room and then extract the disclosure from the sellers to a level satisfactory to permit due diligence.

Ireland’s McEvoy Partners and Clifford Chance acted for the other party.

Tech divestment

Lex Mundi firms acted for tech company NCR Corporation on the sale of its interactive printer solutions division (IPS), with worldwide operations, assets and employees.

Long-time adviser Womble Carlyle Sandridge & Rice tapped into its Lex Mundi network to offer legal advice on several continents. The Lex Mundi line-up also included Bass Berry & Sims in the US, Basham Ringe y Correa in Mexico, Ciaro & Cia in Chile, Gide in France, Afridi & Angell in the UAE, and Simpson Grierson in New Zealand.

The matter required complex advice due to the transaction structure and multi-jurisdictional nature of the operations. Each jurisdiction required documents including specific provisions. The team addressed the transfer of the assets and real estate, employment and various merger laws.

The first phase was successfully closed in 2016 and included all IPS operations worldwide other than in the Middle East and Africa.

Global network of the year: Shortlist 2017

Globalaw

Interlaw

International Lawyers Network

Ius Laboris

L&E Global

Meritas

Multilaw

World Services Group

Which network is best?

Globalaw

Globalaw is shortlisted following a series of rollouts across its network in the past year.

The independent law firm network has secured several new sponsors to boost its offering to members including Powerling, which provides three levels of translation on demand to members via the Globalaw website, ranging from basic to full, legally acceptable translations for official purposes.

The network has also signed up insurance broker sponsor EPIC, which is developing a global insurance policy to cover all work referred around the network for Globalaw and its clients.

Alvarez & Marsal, another Globalaw sponsor, is linking up with its alternative dispute resolution and insolvency and reconstruction initiatives, meaning firms can bring together two professional skill-sets to enhance the client offering.

Other initiatives include a general counsel programme whereby firms regularly invite in-housers to Globalaw’s regional and annual meetings where they take part in panels and workshops designed to boost cross-border initiatives.


Interlaw

2016 was a year of high ambition for Interlaw, with a vision to put the digital infrastructure in place to create a virtual global legal services solution that meets the needs of its multinational clients. In partnership with legal tech start-up calls9 Interlaw has embarked on a series of digital transformation projects.

Having taken the decision to invest, execution has been swift, beginning with the launch of a web platform in October 2015 – bedrock of the technological changes to come. This was followed swiftly with the introduction of refreshed branding to complement the organisation’s refined strategy and then an online digital directory that acts as a caucus for all the other digital transformation projects, with the capacity to hold millions of individual data records.

A bespoke client management and feedback system came next, and is being piloted across a pool of member firms. It will be launched to the entire network in 2017.

Interlaw completed a strategic review of its board structure, streamlining its number of directors from 10 to eight.

Interlaw chair  Siebold was reappointed in 2015 to continue in post until 2018, with Shipman & Goodwin partner Glenn Cunningham expected to take over after that.


International Lawyers Network

International Lawyers Network (ILN) admitted four new member firms during the year – Connolly Gallagher in Delaware USA, Hall & Wilcox in Australia, Salaberren & López-Sansón Abogados in Argentina and VGCD Abogados in Colombia.

The independent network has redeveloped the processes it uses to onboard new members. This process focuses on enhanced relationship developed by providing new members with a board advisor, facilitating cross-marketing introductions in their region and strongest practice areas, and helping to integrate them through ‘First Timers’ Receptions’ at conferences, feedback with the administration in early membership and a welcome webinar.



After a period of growth L&E Global has been  investing in solidifying the organisation with the appointment of executive director Jeroen Douwes (former director of business development at CMS), and exploring ways to foster innovation in the face of technological changes such as AI.

To effectively manage the network’s expanding list of clients L&E Global has devised a range of business development and strategic resourcing options, including new technologies, to assist with sophisticated project management and process improvement as part of a long-term strategy. This includes tech such as Salesforce, the launch of a business development committee, tailormade cross-jurisdictional comparisons, cross-border pitch presentations, and legal practice groups and activities.


Meritas

Over the past 18 months Meritas has implemented a number of major operational developments. These have included strengthening and expanding its regional structure to ensure members in different regions receive better support. It has put in place four regional directors covering Asia and Australia, the Caribbean and EMEA, Latin America, and the US and Canada.

Reflecting the international needs of clients, the Meritas network now covers more than 80 countries and continues to grow, focusing expansion on the developing regions of Africa and Latin America as well as broadening its coverage in Europe and North America.

Operationally, over the past year the network has enhanced its governance by creating new member-led regional leadership groups tasked with driving member engagement in the regions.


Multilaw

Technology was also the main trend at Multilaw last year, with the launch of project management software to collaborate on multi-jurisdictional projects. Through this process firms will be able to manage large-scale projects on a secure tech platform, from file collaboration through to billing. Clients can also access the portal and view the status of work, and billing fees.

The network has also launched an online referrals system to identify cross-selling opportunities and a business opportunities portal for firms to match clients to potential investors.

Furthermore, it has introduced a network-wide pricing model  for multi-jurisdictional work incorporating blended rates, fixed-fee arrangements and single-point pricing.


World Services Group

World Services Group (WSG), meanwhile, has developed a non-binding referral tool whereby members can easily track cross-border transactions or collaborations.

WSG and Santander Bank’s international desk have entered into an agreement establishing WSG as a go-to source for the legal needs of the international corporate clients of the global bank. This innovation has proved to be a game-changer for the  network, with more projects set to follow.

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This is open-source lawyering, and it’s working

We’ve had disruption. We’ve had innovation. Now, in 2017, we’re about to get collaboration. I’m sure I’m not the only person to confess lexical and conceptual fatigue, but let’s consider another one: support. Not manufactured, corporatised, human-resourced support, but energy and comradeship of the sort to be found among the Disruptive GC (DGC) group, which projects editor Natasha Bernal examines this week.

The DGC group has attracted enormous interest since The Lawyer first revealed its existence last year. Following our report, Lisa Gan Tomlins at made.com and Matt Wilson at Uber, the prime movers, were bombarded with requests to join. There is currently a waiting list, but in broad terms if you’re not working at a tech-related company in its pre-IPO phase, you don’t have much of shot. If that sounds like an East London coterie, then think again. Many of the members, from companies such as WorldRemit, Property Partner and Graze, had never met before joining the group. Sure, quite a few of them so have that caffeinated, Shoreditch sheen, but what unites them is the pressures of being a lawyer in a start-up.

I have three observations to make about the DGCs. The first is that they have learned how to tell their company’s story to good effect. Many of them work (and occasionally battle) with the regulator in a greenfield business environment. Uber is a good example, but this also applies to peer-to-peer lenders such as Ratesetter and Funding Circle, whose legal and regulatory contribution is helping to shape the very business in which they operate.

The second observation relates to their collaborative practices. The dynamic here is not the collaboration that centres around how different law firms can combine to work for the client; it’s about bypassing private practice altogether. The DGCs communicate privately on Slack to discuss anything from share options to external counsel recommendations to how to put a case together to expand the legal team. It’s open-source lawyering based around speed of response and flexibility.

Furthermore, there are no financial incentives within the DGC collaboration; this is a circulation not of referrals or fees but of information, advice and support, so members are less likely to act as competitive opportunists. The DGCs rely on a strikingly high level of trust. Because a large group – it numbers 30 – view the comments, peer-review is built in. It is, you could argue, an unconscious replication of an ideal partnership, in which information flows freely for the benefit of all.

My third observation is directed at envious in-housers who itch to be part of such a support network. I was with another group of general counsel recently who were fascinated to hear about the group dynamic of the DGCs. But within five minutes the discussion had turned to why it couldn’t be done in their sector. Who would run the group? What about competition concerns? Would everyone participate fully and honestly? The yearning for comradeship and information-sharing was there, but so was timidity and the lowering of the imaginative shutters. The final lesson, then, is this: don’t ask for permission. Open-source your support.

Disruptive GCs: The in-house lawyers shaking up the traditional law firm relationship

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