News Headlines

Redundancy in the Spotlight In keeping with numerous recent surveys revealing that widespread job losses are looming

Getting “compensation” In a contract you can set out systems for recompense in the event of a default. Well, you can if it's a liquidated damages clause - but not if it's a

Letters of Intent – The sting in the tail Letters of intent come in many guises. You might know them as heads of terms or memoranda of understanding and they are often used to plug the gap in

What’s the jurisdiction? Having certainty in knowing which countries laws will apply to a contract does matter. In the event of a dispute this issue will have a big impact on

Consumer Contracts: Time to rethink your contracts with students Is a student a consumer for the purposes of the new consumer contracts regulations? Absolutely. So what does that mean for you?

Education Update - Comment August 2008 Over the next few months we shall consider how you ensure that you preserve any legacy you are left under a Will whether it be a specific lump sum, sp

Education Update - News August 2008 Universities UK has criticised new rules introduced by the UK Border Agency which force international students to prove they have at least GBP 9,600 i

Financial assistance: still a thorn in our side? At the time that shares in a company (Target) are acquired, it is well-known that there are certain things that Target may not do, directly or indirec

When staff TUPE transfer - think equal pay When considering a TUPE transfer of staff, it is very important to consider the risk of equal pay

Employment Update - July 2008 Traditionally, summer time sees an influx of students into organisations on work experience

Business News

Here is a round up of the latest business news for your intereste from the following sources:

icliverpool, M.E.N and Times Online/Law

Clifford Chance sets out to improve its public image
Clifford Chance has said that it must improve its public image if it is to achieve its ambition of becoming one of the world’s leading professional service providers.

The Water Cooler
* It must be champagne corks popping all round down at the Royal Courts of Justice. Sir Igor Judge has received his life peerage after all (see Watercooler August 28) because Downing Street has specially bestowed one, even though it no longer comes automatically with the job. So he can sit among the law lords or even speak in the House of Lords, in theory (although the latter is unlikely), at least until the Supreme Court is set up next year and the law lords are disentangled from the Upper House entirely. Lord Justice May was also announced as the new President of the Queen's Bench Division from October 1 - taking over from Sir Igor - and Mr Justice Etherton, chairman of the Law Commission, moves up to the Court of Appeal - bringing the number of appeal judges to 38.

Weird Cases: banning books
Read more Weird Cases

TNK-BP becomes independent oil major as warring sides reach deal
TNK-BP is to be transformed into an independent oil major with international operations and bigger downstream interests under a deal between BP and its Russian partners.

Phillip Bennett starts 16-year jail sentence for Refco fraud
Phillip Bennett, the British former chief executive of Refco, reported to a New Jersey prison yesterday to begin a 16-year sentence for fraud after pleading guilty to criminal charges over a scheme to hide the commodity broker’s financial problems.

FSA challenged over insider trading case
A father and son accused of insider trading today asked for the case against them to be dismissed on procedural grounds.

'Fat Man' wins legal battle over £2m gambling debt
An Arab billionaire gambler known as the “Fat Man” won his High Court battle yesterday over £2 million lost in a night of blackjack at a prestigious London casino.

BP's Dudley exits in Russian shake-up
BP has struck a deal to resolve the bitter dispute at TNK-BP, its Russian joint venture, that has caused a political firestorm and threatened the British oil group's future in the region.

Case study: sentenced to cold comfort
For the judge at Aylesbury Crown Court it is a common refrain. As the 12 men and women squeeze into the tiny jury box, His Honour Judge Christopher Tyrer sighs while he explains apologetically that the wooden structure was “designed by and for Victorians, and so was not planned for comfort” (Steve Bird writes).

Courts face closure as judges are told of £90m shortfall in collection of fees
The criminal courts are facing their biggest cash crisis in decades after a warning to judges and magistrates of a £90 million shortfall in the budget for the justice system. Judges and magistrates in England and Wales have been told of the emergency, which is likely to result in trial delays, cancelled court sittings and redundancies.

Self-financing legal cases are too high a price for society
Justice, the much-quoted saying goes, is open to all - like the Ritz Hotel. Access to the courts can often depend on the depth of a person's pocket, with some of the best lawyers coming at a prohibitively high price. But lawyers' fees aside, should the courts be a free public service, like the health service? Or should litigants who use them pay the cost?

Oracle's chief withheld emails, judge rules
Larry Ellison, the chief executive of Oracle, the US software group, deliberately destroyed or withheld emails and did not preserve tape recordings that he should have handed over to lawyers acting for investors that are suing him, a judge has ruled.

Anthony Julius caught in conflict of interest row
Mishcon de Reya, the law firm, and its star solicitor Anthony Julius have become embroiled in a High Court dispute involving an allegation of professional impropriety, it emerged today.

Ex-Credit Suisse brokers accused of subprime fraud
Two former Credit Suisse brokers each face a $5 million fine and up to 20 years in jail after being charged with fraudulently selling complex US securities to clients in order to boost their commissions.$

SocGen rogue trader sticks by accomplice claim
Jérôme Kerviel, the rogue trader, was today brought face to face with the assistant who he says helped him to cover up the illegal deals, which led to losses of €4.9 billion (£3.9 billion) at Société Générale, the French bank.

EU approves proposal to try Britons in their absence in foreign courts
British citizens could be convicted in their absence by foreign courts for traffic, credit card or other criminal offences under plans approved in principle by the European Parliament.

In court today
Old Bailey

Paul Shrubsall, the arch-fixer of barristers' clerks, finally takes a bow
As the arch-fixer/manager/negotiator for one of the most successful commercial sets of chambers in the business, it is no surprise that Paul Shrubsall organised his own exit strategy.

In the City
Not so tough at the top How bad will it get among City law firms now that the OECD officially says that the UK is in recession?

Russia still has the Bear necessities from lawyers' viewpoints
Gordon Brown's comment on Russia after the EU meeting of heads of government on Monday was terse. “It can't be business as usual - indeed, it cannot be business as usual.”

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