The closing weeks of 2005 witnessed a startling development. It came in the shape of the Law Society’s dramatic, albeit indirect, intervention in Freshfields Bruckhaus Deringer’s senior partner elections.

After spending 18 months mulling over how to respond to a High Court judge’s decision to prevent Freshfields from acting on Philip Green’s Marks & Spencer takeover bid because of a conflict, Chancery Lane appears ready to reach a decision.