What is it about Herbert Smith’s elephant trap that seems so tempting to other law firms? Despite recent years giving repeated proof that, for quality law firms with global aspirations, the one thing that you do not want to get sucked into is the magic circle debate, there are plenty still queuing up to give it a go.
And so here comes Ashurst, which has taken of late to putting forward a hypothesis about seven firms in the City pulling away from the rest of the market. Obviously, they’re in the club. This could be taken to have side-stepped the magic circle issue, but such hyperbole tends to not end very well for law firms who make such claims.
