AshurstsSpain has cemented its position as one of continental Europe’s fastest growing legal markets with research published this month showing leading firms in 2002 shrugging off the slump in commercial activity to post a 12% increase in fees.

The figures, published this month by the Spanish newspaper Expansion, show the top 40 local practices between them billing e899.42m (£547.75m) in 2002, 12% up against the 2001 total of e802.90 (£488.9m).