Rosenblatt launches litigation fund post-stock market float September 18, 2018 City law firm Rosenblatt launched a £2m litigation fund today as it announced its maiden results to the stock market. The firm became just the fourth law firm to list on the London Stock Exchange when it raised £43m from investors in May. Today it announced a subsidiary, Rosenblatt Litigation Funding, with £2m from the [...]
Rosenblatt launches litigation fund post-stock market float September 18, 2018 City law firm Rosenblatt launched a £2m litigation fund today as it announced its maiden results to the stock market. The firm became just the fourth law firm to list on the London Stock Exchange when it raised £43m from investors in May. Today it announced a subsidiary, Rosenblatt Litigation Funding, with £2m from the [...]
City Moves for 11 September 2018 – who’s switching jobs at Deloitte, RBC GAM and Dechert? September 11, 2018 Today's City Moves cover tax, asset management and legal eagles. Take a look at these movers and shakers: Deloitte Deloitte has appointed Willo Renehan as a tax partner to its private markets team. Willo will be based in London, specialising in private businesses and focusing on building relationships with large privately held groups and FTSE [...]
Litigation funder Vannin Capital lines up £1bn London float September 10, 2018 Litigation funder Vannin Capital said today it is planning to list in London next month in a float that market sources say could hit a £1bn valuation. The listing will comprise an approximately £70m issue of new shares by the company and the sale of shares by existing shareholders to facilitate a free float of [...]
Libor replacement to be given first bond issue test September 3, 2018 The Bank of England’s replacement for the scandal-hit Libor interest rate is to take a major step forward as Lloyds Banking Group prepares to issue the first bonds tied to it. Lloyds will become the first commercial lender to use Sonia, a three-year sterling benchmark floating rate covered bond with is tied to the Sterling [...]
Tesla can’t afford Elon Musk’s eccentricities August 27, 2018 In the late hours of Friday night, Elon Musk published a blog post that brought to an end a three-week period of intense speculation and investor confusion. The billionaire Tesla founder declared that, having discussed the matter with his board, taking the company private “would be even more time consuming and distracting than initially anticipated.” [...]
Leisure billionaire Trevor Hemmings sues former plaintiffs over unpaid RBS legal fees August 19, 2018 A vehicle controlled by the enigmatic billionaire Trevor Hemmings has accused a swathe of groups, including nine Lloyds subsidiaries, of attempting to “unjustly enrich” themselves dodging litigation costs related to a £200m claim against RBS. Manx Capital, a group owned by Hemmings, is leading thousands of shareholders in the claim, which has been fraught with [...]
Tesla braced for a big hit from legal claims following Musk’s Twitter gaffe August 16, 2018 Tesla’s legal team is bracing itself for a number of potential legal claims following an uproar caused by Elon Musk’s disclosures on Twitter that he was considering taking the company private. Fox News reported that the legal team for the controversial CEO was preparing itself for the costs of private litigation to exceed any fine [...]
Litigation funder Augusta completes £150m financing round to pedal expansion plans July 10, 2018 Litigation funder Augusta has successfully completed a £150m financing round from institutional and private investors as its business moves into the next phase of expansion. Augusta, whose main markets are in the UK and Australia, says the boosted finances will enable it to fund disputes of a bigger size and scope and reach other jurisdictions [...]
Who are the City’s best paid lawyers and what are they taking home? June 4, 2018 When private equity partner David Higgins started his new role in the City office of US law firm Kirkland & Ellis in April, he came with the weight of expectation generated by a reported $10m (£7m) salary. Higgins’ salary, which works out at nearly $200,000 per week, is almost unprecedented in the London legal market. [...]