Lloyd’s of London prepares to fight over picking the tab up for $10bn Russian-seized planes May 2, 2022 Lloyd’s of London and aircraft lessors are reportedly going to war over who needs to pick up the tab after more than 400 foreign-leased planes were seized by Moscow following the invasion of Ukraine. Sources told the Telegraph Lloyd’s of London has hired global law firm Clyde & Co to investigate whether insurance claims made [...]
AerCap posts $2bn net loss as jets remain stranded in Russia May 17, 2022 AerCap has posted a $2bn net loss in the first three months of 2022 as more than 100 of its jets remain stranded in Russia following the invasion of Ukraine. The world’s largest aircraft lessor said today that after sanctions were imposed on Moscow by the West, 113 of its jets and 11 engines remained [...]
Arsenal, Tottenham, Liverpool and 17 other top clubs hire City firm to take on UK’s biggest insurers in mega football claim May 17, 2022 Some of England’s biggest football clubs – including Arsenal FC, Aston Villa FC, Tottenham Hotspur FC and West Ham FC, have instructed City law firm Clifford Chance to launch a multi-party action against some of the biggest insurance players in London. The group of 20 claimants, which also includes Liverpool FC and Leicester City FC, [...]
The multibillion pound court battle keeping the City’s law firms busy December 21, 2023 Aircraft leasing companies immediately turned to their insurers after their planes were stranded in Russia. But their refusal to cough up has set up a multi-billion pound court showdown.
UAE fund turns on top City lawyer in bid to exit Iranian-American airline tycoon’s hacked emails case June 23, 2022 Embattled City lawyer Neil Gerrard suffered another blow this week, after his former client, an Emirati sovereign fund, turned on the ex-Dechert partner, after offering to pay $1m to settle a case brought against it by a powerful Iranian-American business tycoon. The fund’s efforts to distance itself from Dechert’s former head of white-collar crime comes [...]
Milbank ups stakes in battle for talent with $215,000 salaries for newly qualified lawyers January 23, 2022 New York headquartered law firm Milbank is set to pay its newly qualified (NQ) associates $215,000 (£160,000), as the battle for fresh legal talent rages on into 2022. According to a memo seen by City A.M. newly qualified lawyers in Milbank’s London, Sao Paulo, US and Asia offices will receive a $10,000 pay boost [...]
Coalition of football clubs file lawsuit against insurers in wake of landmark Axa ruling May 17, 2022 A coalition of football clubs have filed a multi-party lawsuit against six major insurers seeking a larger payout for money lost during Covid-19, after the UK’s Supreme Court said businesses are allowed to reclaim losses suffered due to the impacts of the pandemic. A consortium of 20 separate claimants – including Arsenal, Liverpool, and Aston [...]
City Moves for 2 October – Who’s switching jobs at Stonehage Fleming, Clyde & Co and CPMG? October 2, 2019 Today’s City Moves includes Stonehage Fleming, Clyde & Co and CPMG Stonehage Fleming Wealth management company Stonehage Fleming has appointed John Connolly as the new chairman of its board. John brings extensive corporate and professional services experience to Stonehage Fleming, having held several significant chairmanships during a career that includes 45 years at accountancy and [...]
Russia-Ukraine: What will sanctions mean for UK businesses? February 3, 2022 Liz Truss this week warned Russia that the UK is now prepared to hit the Russian Federation with its “toughest sanctions regime” ever, as it seeks to deter the country from sending troops into Ukraine. “Nothing is off the table and there will be nowhere to hide,” the foreign secretary said. But as of yet, [...]
Osborne Clarke drops signature from legal climate charter January 22, 2024 City headquartered law firm Osborne Clarke has dropped its signature from a legal initiative designed to support law firms with transition to Net Zero. Legal Charter 1.5 was an initiative developed collaboratively by a group of large City law firms ahead of London Climate Action Week last June. At the time, eight law firms were [...]