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The growing volume of litigation arising from the global recession has been particularly notable in areas such as fraud, white-collar crime, and banking and shareholder disputes, as well as contentious regulatory matters and EU-related cartel claims. Particular geographical areas generating disputes include the Middle East, often in construction matters, while Russia and CIS-related issues have been clogging up London’s commercial courts. The year’s headline natural disasters, in countries such as Australia and Japan, also fuelled some practices’ workloads.

On the banking litigation side, and in the related realm of regulatory investigations, areas of activity include disputes involving derivatives and structured finance products, with a focus on mis-selling, lack of capacity/authority and alleged failure to treat customers fairly. Disputes are also increasingly international in nature, giving rise to related jurisdictional battles. Conflict-free litigation firms able to take on cases against the banks have been attracting an increasing flow of work related to the credit crunch.

London has managed to retain its appeal as a major arbitral centre, but the Court of Appeal’s decision in Hashwani v Jivraj did represent a further challenge to London as a seat of arbitration, as it involved the interpretation of an English piece of legislation which implements an EU Directive. Many of the large London arbitration mandates were in the energy sector, with the number of gas price arbitrations between sellers outside Europe and buyers within Europe increasing. In the world of public international law, the Middle East’s recent uprisings gave rise to advice on sanctions, while bilateral investment treaties remain a strong source of work.

The market remains competitive and fluid. Halliwells’ collapse provided Clyde & Co LLP with the lateral hire of Marko Kraljevic, while Stephenson Harwood beefed up with Sean Jeffrey arriving from Freshfields Bruckhaus Deringer LLP and Sara George from Allen & Overy LLP. Barlow Lyde & Gilbert LLP’s former litigation chief Julian Randall exited for Taylor Wessing LLP. Others have been busy consolidating; in 2011, seven partners from Dawsons LLP, plus their assistants, joined Penningtons Solicitors LLP, while Stewarts Law LLP acquired litigation practice Masseys LLP.

As for major moves in arbitration, Barlow Lyde & Gilbert LLP’s international arbitration head Peter Flint left for Wragge & Co LLP, and Herbert Smith LLP’s David Brynmor Thomas departed for the Bar. In public international law Debevoise & Plimpton LLP’s Peter Rees QC exited to become Royal Dutch Shell’s legal director.

US firms, which generally fare better in the international arbitration ranking than in the litigation tables, are intent upon growing their London dispute resolution practices. Akin Gump Strauss Hauer & Feld launched its London team in September 2009 when it recruited Linklaters LLP’s energy disputes head Justin Williams; and Quinn Emanuel Urquhart & Sullivan, LLP hired Olswang’s litigation head Martin Davies and Alex Gerbi, as well as Robert Hickmott from CMS Cameron McKenna LLP. Milbank, Tweed, Hadley & McCloy LLP recently took on DLA Piper UK LLP’s Julian Stait and Tom Canning.

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