Morning Briefing: Delegates attend international law conference

Delegates attend international law conference
The Global Law Summit is taking place in London this week. The three-day programme of events includes discussion on the rule of law, women in the legal profession, ethics and innovation. Delegates from around the world will also discuss the future of the legal professional in a fast-changing world. Distinguished speakers include United Nations secretary-general Ban Ki-moon, Commonwealth director of public prosecutions Robert Bromwich SC and Duncan McConnell, president of the Law Council of Australia. There are also sessions being headed by partners of law firms including Allen & Overy, Baker & McKenzie and Holman Fenwick Willan. As a nod to the 800^th anniversary of the Magna Carta the UK’s justice secretary Chris Grayling MP made an opening address in which he said that laws must innovate in accordance with changes in the world but that they must keep their roots in the ancient charter. The Law Society has launched a legal challenge to one of Grayling’s innovations which means a sharp increase in court fees; law firm Kingsley Napley has been instructed to represent the society.
 
Reed Smith hires former US ambassador to Singapore
David Adelman, a former US ambassador to Singapore, has joined Reed Smith in New York as a partner. Adelman will regularly visit the firm’s offices in Asia having spent many years in the region both on government business and as managing director or Goldman Sachs in Hong Kong. His broad experience will be utilised for American firms looking to expand in Asia and vice-versa.
 
Quindell insists that talks with Slater & Gordon are still exclusive
Technology firm Quindell says that it is still in exclusive talks to sell its legal services division to Australian-listed Slater & Gordon and has hinted that a ‘significant’ premium could be paid by the law firm if a deal to acquire Quindell goes ahead. Daily Mail website thisismoney.co.uk reports that the original price for the UK firm was £1 billion (AU$1.98 billion) but that Slaters is understood to only be prepared to pay £700,000 (AU$1.386 million) which is at the lower end of the tech firm’s valuation.
 
Allen & Overy tops league for global projects market
Allen & Overy has emerged as the leader on four league tables for project finance. The firm came top in terms of both value and volume in rankings from Dealogic, IJ Global, Infra News and Infrastructure News. A&O also ranked first in Project Finance International’s Legal Survey of firms that advised on transactions with a value of US$500m or above.