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International Edition

Kirkland, Freshfields Earn 8-Figure Windfall for Leading £5.4B Hargreaves Lansdown Takeover

The legal spend is among the highest seen in London for a single transaction, according to rival partners.
3 minute read

International Edition

The Price of Time: Should Law Firms Sell Minutes or Value?

As the legal industry grapples with the rise of AI, the once-immutable billable hour faces unprecedented scrutiny.
4 minute read

International Edition

Are Law Firms Themselves to Blame When a Client Refuses to Pay?

With law firms facing longer debtor days and having to take clients to court over unpaid bills, in-house counsel and partners explain what firms can do to address what many call a system in dire need of an overhaul.
6 minute read

International Edition

Senior Partners Approach $3,000 an Hour, As More Billing Rate Hikes Expected in 2025

About 16 Am Law 50 firms have third-year associates with rates over $1,000, but Valeo Partners project around half of the Am Law 50 to have rates of over $1,000 for this group of lawyers by 2025.
5 minute read

International Edition

Jones Day Billing Under the Spotlight in Court

The firm is demanding hundreds of thousands of pounds in legal fees as part of a U.K. High Court dispute with Arcadia Energy, which the oil giant is contesting.
2 minute read

International Edition

Am Law 50 Law Firms 'Outpacing' the Industry More in 2024, as Segmentation Accelerates

"It is a bit of a vicious cycle for the rest of the industry to observe. It allows these elite firms to continue to pull away, as long as they continue to focus on those higher client value opportunities," noted one industry consultant.
5 minute read

International Edition

Partners Confront 'Deeply Uncomfortable' Client Communications on Soaring Billing Rates

Law firms are increasingly relying on engagement letters or online e-billing platforms to alert clients of rate increases, even though less personalized communication can frustrate clients, sources say.
6 minute read

International Edition

Anglo American GC: 'Maybe Partners Should Make Less Money and Associates Should Make More'

In a wide-ranging interview, the mining giant's company secretary Richard Price expresses concerns about the effects of soaring associate pay and the erosion of the rule of law.
8 minute read

International Edition

Billing Rate Hikes 'Not Slowing Down,' With Pricing Surges Expected in 2024

About 86% of large firms in the U.S. and U.K. expect to increase billing rates over the next 12 months, according to new survey results.
6 minute read

International Edition

The UK Top 50 Firms With the Highest Debtor Days

Almost twice as many firms saw their debtor days rise compared with the previous year, research has found, with one accountant saying: 'It is hard to think of another sector that is worse at getting its clients to pay.'
3 minute read

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Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.