Struck by a declining demand for legal work in structured finance, real estate development, private equity and even bankruptcy, some of the country's most prominent firms have resorted to laying off attorneys and staff.
Law firms are bolstering their Islamic finance practices as they look to help clients into the estimated $1 trillion in investment capital up for grabs in the natural-resource-rich Middle East. But experts say the skills of some attorneys being drawn to the burgeoning field lag behind their enthusiasm.
As factors including high liquidity and a demand for infrastructure in the Middle East spur a surge in Islamic finance, places like Dubai and Singapore are positioning themselves to draw business away from more established Islamic finance centers like London, attorneys say.
DLA Piper is continuing to work toward establishing itself as a leader in the global life sciences marketplace, most recently by hiring experienced corporate attorney Bruce W. Jenett, former co-chair of the life sciences practice at Heller Ehrman LLP.
Leaping forward in the race to open law offices in Asia, Mayer Brown LLP has acquired one of the region's biggest local firms, adding hundreds of new attorneys to its ranks just as China prepares to introduce new competition laws.
The U.K. Competition Appeal Tribunal has extended the deadline for British Sky Broadcasting Group Plc to file an appeal of a recent U.K. Competition Commission ruling on its contentious stake in ITV Plc, allowing the broadcaster to wait for a ruling from another lawmaker later this month.