Forsters has announced a perfect 100% retention rate in relation to its autumn 2017 qualifiers. The Mayfair firm will welcome all eight of its qualifying trainees as associates come September.

Magic Circle giant Allen & Overy has also released its 85% retention rate, confirming that 40 out of 47 soon-to-qualify trainees will join the leading firm as associates this autumn.

67 of 91 qualifiers at Pinsent Masons will stay on, giving the firm a score of 74%, whilst Sullivan & Cromwell boasts an impressive 100% retention rate, having enticed all four of its qualifying trainees to sign on the dotted line.

For more information on autumn retention rates, see our trainee retention table.

World Championships: Isaac Makwala withdrawal decision defended by IAAF – BBC

Worldpay agrees £9.3bn tie-up with Vantiv – The Telegraph

UK citizens to get more rights over personal data under new laws – The Guardian

Darling: ‘Alarm bells ringing’ for UK economy – BBC

North Korea threatens attack on Guam after Trump’s ‘fire and fury’ warning – The Times

FT journalists revolt over colleague’s sacking – The Telegraph

The Guardian view on data protection: a vital check on power – The Guardian

The firm’s second Australian base will be led by Michael Kavanagh from local firm Lander & Rogers, where he was a partner.

Kennedys Australia’s managing partner Matt Andrews said the insurance-focused firm is aiming to work more closely with a number of its ‘local and global clients’ based in Melbourne.

The second Australian opening after the Sydney office in 2006 follows that of five US offices as part of the merger with Carroll McNulty & Kull in May and one in Mexico City in January. The firm now has 28 offices, 10 in the UK and 18 worldwide.

Kavanagh headed the casualty team at Lander & Rogers, where he spent 16 years advising on claims for insurers, brokers, insureds and loss adjusters. Two senior associates, Emily Unger and Uki Murphy, and lawyer Angela Woodward also join from Lander & Rogers.

Senior partner Nick Thomas told Legal Business that organic growth, laterals and international expansion had been the firm’s strategy for some time: ‘It has involved a lot of investment, but fortunately we are seeing the results. The fact that we are in different geographic areas means that we can win more clients.’

Special counsel Nicholas Blackmore will also join the Melbourne practice, transferring from Kennedys’ Hong Kong office, where he advised on IT, commercial and regulatory matters for insurers and large corporates.

Kennedys’ revenues grew by 8% to £149.9m in 2016/17, boosted by a strong western European and South American performance. Disputes accounted for 91% of fee income.

However, the recent international expansion and investment in new technology has meant that profit per equity partner (PEP) stalled at £406,000. The firm increased its lawyer headcount by 13% to 785 in one year and has also put about £3m a year into technological innovation since 2013.

Kennedys is part of a group of top-50 insurance and shipping specialists whose significant top-line growth has not translated into a rise in profitability in the last financial year. Firms focused on the insurance sector are investing to keep up with the increasing need for international coverage, product specialisation and technological innovation to improve efficiency in an increasingly competitive market.

‘Firms doing more traditional stuff are struggling,’ said Thomas. ‘But then again: why are these firms struggling? Because they don’t innovate.’

This article first appeared on The Lex 100‘s sister publication, Legal Business.

The High Court started the pilot scheme for shorter trials in September 2015, for cases in the commercial, technology and construction courts, the chancery division and the mercantile courts, all located in London’s Rolls Building.

The scheme offers dispute resolution for commercial cases and aimed to have them managed by docketed judges and to reach trial within ten months of the issue of proceedings, with judgment delivered within six weeks after. The maximum length of a trial under the scheme is four days, including reading time. The judge-led reform intended to ensure cases were handled more quickly.

The recent BP case centred on a claim by the National Bank of Abu Dhabi that BP had breached its warranties and misrepresented itself in a $70m receivables financing transaction related to the sale of 100,000 metric tonnes of crude oil to a Moroccan oil refinery.

BP had agreed to sell the National Bank of Abu Dhabi 95% of the debt it was owed by Moroccan oil refining company SAMIR for supplying it with oil. When SAMIR defaulted in November 2015, BP were unable to sell the debt to the Bank under the terms of its sale and purchase agreement with SAMIR.

Under the shorter trial procedure, permission to appeal Mrs Justice Carr’s November 2016 ruling in favour of the National Bank of Abu Dhabi was expedited. Last week, the Court of Appeal allowed BP’s appeal. The detailed reasons for the judgment are currently reserved.

BP was represented by Addleshaw Goddard, who instructed Fountain Court Chambers’ Bankim Thanki QC and Christopher Lewis QC of Atkin Chambers. The National Bank of Abu Dhabi was represented by Slaughter and May, which instructed Rhodri Davies QC and Nicholas Sloboda of One Essex Court.

Thanki described the case to Legal Business as ‘litigation conducted by adults’ and cited an increased co-operation between the parties to limit disclosure and accelerate proceedings.

Thanki said that ‘literally a handful’ of documents were disclosed and that legal costs amounted to £350,000 each.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

The other firms on the roster are TLT, Cleaver Fulton Rankin, Lewis Silkin, Winckworth Sherwood, BLM, Mason Hayes Curran and Shepherd & Wedderburn.

The panel, which was last reviewed in 2014, previously included Bond Dickinson, Croner, King & Wood Mallesons, DWF and Gowling WLG.

The legal panel, known internally as the ‘Sainsbury’s Legal Community’, will cover jurisdictions in England, Wales, Northern Ireland, Scotland and the Republic of Ireland – which is a new jurisdiction following the Group’s acquisition of Argos. The panel is typically reviewed every three years.

In a press statement, Nick Grant, head of group legal services for Sainsburys said: ‘As we continue to integrate Argos with Sainsbury’s we’ve selected a panel that provides the right combination of experience and fresh thinking.’

He said the firms were chosen to ensure that the Sainsbury’s Group obtained the legal support for the range of markets and jurisdictions in which it now operated.

Grant created the Sainsbury’s Legal Community in 2011, which involves multiple firms collaborating to provide advice. The change allowed the in-house team to present its objectives more openly and let firms that are stronger in certain areas collaborate to produce better advice.

Recent completed panels include HSBC, which appointed around ten firms to its UK legal banking panel. Addleshaw Goddard, Eversheds Sutherland and Simmons & Simmons were among those which made the cut.

CMS, Dentons and Pinsent Masons are also among the roster which was reduced in size.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

At the same time last year, in contrast, HSF retained 94% of its autumn qualifying trainees.

The firm offered 28 out of 35 final-year trainees a qualified role this autumn, which all 28 accepted. Four of those NQs will be based overseas, two in Paris, one in Singapore and one in Dubai.

HSF training principal and dispute resolution partner James Baily said: ‘We are very pleased that four of our London trainees in this round are qualifying into overseas offices, which demonstrates the global opportunities that are available for our trainee solicitors.

Meanwhile, nine out of City-headquartered firm Stephenson Harwood’s ten (90%) qualifying trainees have been offered and accepted positions at its London office, marking an improvement over last autumn when 77% of trainees were retained.

The shipping and insurance-focused international firm said newly-qualified lawyers (NQs) will take up roles in the firm’s corporate, marine and international trade, commercial litigation and finance practices.

Stephenson Harwood finance partner and trainee principal Neil Noble told Legal Business that the increased retention was due to demand: ‘We have to look at which practice areas of the business were in need of recruitment. Luckily there was widespread demand across the firm so we had spaces for everyone.’

Noble also stated that commercial litigation was the main practice area at the firm that was in need of added depth.

Stephenson Harwood posted a mixed financial year, with revenues up 11% to £176m but profit per equity partner falling 9% to £708,000. HSF similarly reported unusual results 2016/17, as its revenue grew also by 11% to £920.5m but profit per equity partner fell 3% to £760,000.

In comparison, autumn trainee retention rates at Trowers & Hamlins were 70%, while Withers kept 73% of its final-year group.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

In the UK’s largest property deal to date, Mayer Brown UK real estate head Chris Harvey told Legal Business that the transaction demonstrates further appetite from foreign investors including new entrants to the London market.

‘Asian investors have been very active over the last five years and there is clearly no lack of appetite. This is likely to continue as Asian investors see London still as being a safe haven and comparatively good value compared to their home markets, especially with the depreciation of the pound,’ he added.

LKK, a member of Hong Kong-based food company Lee Kum Kee Group was advised by a Mayer Brown team. UK real estate head Chris Harvey and global head of real estate Jeremy Clay led, with real estate partners Andrew Hepner, Caroline Humble, Anita Jones and Pat Jones, antitrust partner David Harrison and construction partner Jonathan Olson-Welsh.

Corporate and securities partners Jeremy Kenley, Connor Cahalane and Tim Nosworthy, employment and benefits partner Nick Robertson and tax partner Sandy Bhogal all also worked on the deal.

BLP advised co-seller The Canary Wharf Group. BLP’s investment management head, Antony Grossman and chairman Robert MacGregor led its team.

CMS acted for co-seller real estate investment trust Landsec, previously Land Securities, with real estate partners Victoria Henry and Barry Morris and tax partner Nick Burt leading.

The sale follows that of the ‘Cheesegrater’ building for £1.15bn earlier this year to Chinese-owned CC Land, in which BLP and Mayer Brown, alongside Herbert Smith Freehills, advised on one of the largest Chinese purchases of UK real estate.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

Today’s ruling found the fees unlawful under both domestic and EU law because they had the effect of preventing access to justice. The Supreme Court stated that therefore the fees must be quashed.

The Supreme Court also ruled that the fees were ‘indirectly discriminatory’ under the Equality Act 2010, because a higher proportion of women pursue the more expensive type B claims and thus paid more in fees.

Lords including Neuberger, Reed, Lady Hale, Mance, Kerr, Wilson and Hughes unanimously agreed the judgment, following a two-day March hearing.

As a result of the decision, the government should also repay claimants more than £27m in past fees, according to UNISON.

UNISON first issued the long-running claim in 2013 on the basis that employment tribunal fees prevented those on low income and those who faced discrimination from accessing justice, but judgments from the High Court in 2013 and the Court of Appeal in 2015 both ruled in favour of the government.

In July 2013, the government introduced fees for any claimants seeking to file and pursue a claim in the employment tribunals, before which it was free to do so. Claims were classified as type A or type B based on how quickly the claim would take to be resolved. For a single claimant, simply filing type A claims required £390 in fees while type B claims charged £1200. Further employment tribunal fees were charged to claimants during the claim.

UNISON was represented by Dinah Rose QC and Iain Steele of Blackstone Chambers and Karon Monaghan QC and Mathew Purchase of Matrix Chambers, who were instructed by UNISON’s in-house legal team.

For the government, the Lord Chancellor was represented by David Barr QC of Temple Garden Chambers and Victoria Wakefield of Brick Court Chambers, instructed by the government legal department.

The Law Society of England and Wales president Joe Egan said in a statement the decision was ‘a triumph for access to justice, and a resounding blow against attempts to treat justice as a commodity rather than the right it is.’ It argued ‘against the hike in tribunal fees before it was implemented and – like so many others – warned that they would deny people the chance to uphold their basic rights at work. Today the Supreme Court has vindicated that view, and restored access to justice for those mistreated in the workplace,’ Egan added.

The Law Society had highlighted the ‘massive drop in cases coming to the tribunal in the wake of the fees being introduced’ and that ‘at least 14,000 people every year are unable to afford to go to the tribunal to resolve their claims, as well as tens of thousands of missing cases.’

The Bar Council said that the decision is ‘welcome to all who believe in the fundamental importance of the rule of law.’

Charles Russell Speechlys employment partner Emma Bartlett told Legal Business the ruling was ‘ground-breaking’ and that ‘it is going to open the floodgates to claims that have been previously left in the basement.’ Bartlett also argued that the introduction of fees and the resulting prevention of access to justice has meant that case law progression has been ‘stilted’ since 2013.

Kingsley Napley’s head of employment law Richard Fox agreed that ‘it has taken far too long to correct what was always and obvious injustice’. The fees had ‘cut a swathe through the majority of claims with one fell swoop, making them disappear overnight.’

Chris Holme, employment partner at Clyde & Co, said that fees ‘must now fall away’ and that ‘it is likely that the government will consider imposing a new fees regime, but until then new fees cannot be imposed.’

According to Trowers & Hamlins employment partner Emma Burrows, there could be a sharp increase in claims following the decision: ‘The employment tribunals are already under strain following a reduction in judicial resources. As claims go back up, this will need to be addressed by the government.’

In February 2016, reports revealed that 86 courts across England and Wales, including tribunals, would be sold in order to raise funds for judicial modernisation programmes. Around 140 courts were shut across England and Wales in a 2011 review.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

All of Watson Farley’s 15 final-year trainees will stay at the firm on permanent newly-qualified lawyer (NQ) contracts, marking a modest improvement over last year’s autumn trainee retention rate when 13 out of 14 or 93% of its trainees were kept on.

The NQs will be retained across Watson Farley’s practice areas; four in energy, three in asset finance and corporate, and one each in litigation, real estate, tax, employment and finance.

Watson Farley’s graduate recruitment and development manager Lucie Rees said that the firm’s 100% retention rate was ‘particularly exciting’ and that ‘we have always been pleased that we have kept on a high percentage of our qualifying trainees over the years.’

Mishcon’s trainee retention rates dropped from its autumn trainee retention last year, when all 11 trainees were kept on. This year, the firm has retained nine out of a group of 14, equalling just 64%.

In a statement, Mishcon said: ‘We are constantly testing and improving our recruitment procedures. It’s disappointing that retention is lower this year – in the previous three years it has been over 80%. But we are confident that our evolving strategy will help ensure that the matching of trainees to the firm works well on both sides.’

A number of UK firms have announced their autumn 2017 trainee retention rates, revealing that Mishcon’s 64% rate fell below both Trowers & Hamlins and Withers, who posted 70% and 73% rates respectively.

Watson Farley posted strong financial growth in its most recent financials, with global revenues rising above 20% to £159.8m. Mishcon also recorded a strong set of results this year, with 17% turnover growth to £149.4m. The firm’s revenues have doubled since 2011/12 when Mishcon’s top line was £73.1m.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

Under the agreement, the shoemaker would become a wholly-owned subsidiary of Michael Kors. Its shareholders will receive £2.3 in cash for each of their Jimmy Choo shares, 36p above the £1.68 share price the day before Jimmy Choo’s parent JAB Luxury announced it would launch a formal sale process in April.

Slaughter and May acted for Michael Kors in the UK, while Paul Weiss advised the company on US corporate and financing aspects. The Slaughters team is comprised of London-based corporate and commercial partner Jeffrey Twentyman, competition partner Lisa Wright and tax partner Sara Luder.

Paul Weiss team’s team was led by New York-based corporate partners Justin Hamill and Tom de la Bastide, alongside co-head of North America capital markets and securities John Kennedy.

Freshfields acted for Jimmy Choo via corporate partner Christopher Mort, with support from corporate partner Alison Smith, employment partner Nick Squire and antitrust partner Alex Potter.

The boards of directors of both companies have approved the transaction but has yet to be voted in by Jimmy Choo’s shareholders.

The deal will be subject to regulatory approvals in the EU, US and Russia and is expected to complete in the fourth quarter of 2017.

When Jimmy Choo floated on the London Stock Exchange in 2014, the issuer, private investment firm JAB Holdings owned by the German billionaire Reimann family, instructed Freshfields with Mort as leading partner. Hogan Lovells acted for Jimmy Choo at the time on its long-term incentive plans, while Linklaters advised on refinancing matters.

The Michael Kors offer is part of a string of foreign takeovers generating work in the city this year as foreign buyers take advantage of the drop in the value of the pound since Britain voted to leave the EU.

This article first appeared on The Lex 100‘s sister publication, Legal Business.