Stephanie King, a solicitor at law firm Aaron & Partners in Chester will be leaving her day job behind as she jets off to Australia’s Gold Coast to take part in the World Triathlon Grand Final.

The triathlon takes place between 12-16 September and the twenty-six-year old lawyer will be participating as part of the GB team, alongside Alistair and Jonathan Brownlee, Vicki Holland and Jodie Stimpson.

Alongside her legal career in commercial property, King spends over 20 hours a week training for triathlons. Her schedule includes training before and after work, as well as occasionally at lunchtimes, six days a week.

“I absolutely love my job as a real estate solicitor and I’ve worked really hard to get my career off the ground, but I’m really passionate about triathlon too.”

King has taken part in several events in preparation for the event, including the London marathon, the Chester Deva Triathlon and the Ironman Challenge. She qualified for the World Triathlon Finals after coming 14^th in the European Triathlon Union qualifier in Estonia earlier this year. The young solicitor will be expected to undertake a 1.5km swim, a 40km bike ride and a 10km run in warm conditions (the temperature on the Australian Gold Coast is expected to be around 29 degrees Celsius).

“I’m relishing the challenge but I’m under no illusions that it’s going to be tough. The bike is probably my strongest discipline in the triathlon and that’s because I’ve been doing it longer than the other two – I’ve only really been doing triathlons for the last three years.’

“Everyone at Aaron & Partners has been really supportive and although it can be tough juggling my training schedule with work commitments, I’ve found that exercise really helps me to focus when I’m in the office.”

Farrer & Co trainees will now earn £38,000 in their first year whilst colleagues in the year above will earn £41,000. This equates to an uptick of 3% on previous salary levels. NQs at the independent firm have also been rewarded with a pay boost of 7%, taking their remuneration to £64,000 a year.

At Forsters, trainee pay has been boosted by 5% to £40,000 in the first year and £42,000 in the second year. The firm has also upped its NQ salary by 2% to a not-to-be-sniffed-at £62,000. Good news all round.

The University of Law Open Days

What: Gain insight into university’s Legal Practice Course (LPC), Graduate Diploma in Law (GDL), and MA Law degree, and find out how they are taught and assessed. Attendees can also meet tutors and the employability team.

When: 12 September, 17:30 – 19:30 and 13 September 17:30 – 19:30

Where: London Bloomsbury campus (12) and Reading campus (13)

WCAN Conference hosted by White & Case

What: Women in the City Afro-Caribbean Network (WCAN) focuses on connecting high-achieving black women with successful women in the City. This year’s conference will focus on careers in commercial law. The one day event will see attendees hear from black female law graduates and professionals and get advice on CVs and application writing. There will also be commercial awareness sessions and networking opportunities with individuals from Ashurst, Baker & McKenzie, DWF, Eversheds Sutherland, Hogan Lovells, Norton Rose Fulbright, Slaughter and May and White & Case.

When: 13th September

Where: White & Case’s London office

For more information and to book tickets, click here

Jones Day Question Time

What: Jones Day’s Question Times are interactive Q&As and networking events (not recruitment presentations) so are fantastic opportunities to meet a panel of trainees, associates and partners. Attendees are able to quiz the panel directly about their first-hand experiences of working in a global law firm and training in the firm’s distinctive, non-rotational system, and get to know them better over networking canapés afterwards. Attendees will also learn more about the firm’s placement schemes, what the recruitment team look for in candidates, and when and how to apply.

When: Various dates beginning 26 September

Where: Various locations

For more information and to register, click here

Urban Lawyers Careers Conference

What: The Urban Lawyers Careers Conference is an all-day interactive event that provides key information and support to those from diverse backgrounds who are considering a career in law and those who are actively pursuing a career as a solicitor or barrister.

When: 17th November, 8:30 – 17:00

Where: Herbert Smith Freehills’ London office

For more information and to book tickets, click here

Taylor Vinters Open Evening

What: If you’re looking for an insight into the work Taylor Vinters does and the types of clients they work with, along with some hints and tips on completing your application form, then join them at their open evening. This event is aimed at students who are in the process of applying for vacation schemes and training contracts.

When: 22 November, 16:00 – 19:00

Where: The firm’s London office (Tower 42)

For more information and to apply for a place, click here. (Successful applicants will hear back from the firm by 12 November)

Clifford Chance ACCEPT

What: ACCEPT is CC’s Diversity and Inclusion conference that aims to provide an opportunity for LGBT students interested in a career in law to hear from senior role models and understand why it’s important to bring your full and authentic self to work each day. The day will conclude with an evening panel event with keynote speakers celebrating Trans Awareness month. You will:

• Understand what it’s like to be LGBT in the City and how this can complement your career
• Hear from external speakers and external partners including MyGWork and National Student Pride
• Network with likeminded individuals and hear about the recruitment process at Clifford Chance

When: 22nd November 2018, 11:00 – 21:00

Where: CC’s London office

Applications close on 9 November. For more information and to apply, click here

Clifford Chance INTERFACE

What: Interface is an exclusive event for students studying Science, Technology, Engineering and Mathematics (STEM) degrees. This event will provide an opportunity to understand the ways in which a STEM degree can lay the foundations for a successful career as a lawyer. Through a series of interactive workshops, presentations and networking sessions, attendees can discover:

• The transferable skills between STEM degrees and the law
• How to secure a training contract as a STEM student
• How technology is changing the law

When: 29 November 2018, 9:00 – 19:00

Where: CC’s London office

Applications close on 15 November. For more information and to apply, click here

Junior Lawyers Division forum: helping you to secure a training position

What: Free one-day skills event to assist LPC students and LPC graduates with their search for a training position. The event will consist of presentations, activities and discussion with speakers who are highly regarded and experienced in their field. Refreshments and lunch will be provided.

When: 6 October, 10:00 – 16:30 followed by a networking drinks reception until about 17:30

Where: Law Society, 113 Chancery Lane, London WC2A 1PL

For more information, click here

Shearman & Sterling Open Day

What: Open days at Shearman & Sterling are great for candidates who are still researching their legal careers. These one day programmes provide an insight into the life of trainees and give you the chance to find out what the firm is like from the inside. Open days are perfect for candidates who cannot yet apply to other programmes (Head Start or Vacation Schemes) and can really help you show your dedication to the legal profession and the research you are doing outside of your studies. Open day sessions include:

• An overview of the firm and our place in the legal market;

• An introduction to our core trainee practice areas – M&A, Finance and Project Development & Finance;

• A panel Q&A session with our trainees so you can ask your burning questions regarding overseas seats, support throughout your training contract and what the work is really like;

• An interactive workshop from the graduate recruitment team providing hints and tips on application forms and interviews; and

• A chance to network with partners, associates, trainees and graduate recruitment and get a real feel for our culture.

When: 24 October (apply by 10 October); 5 December (apply by 21 November)

Where: The firm’s London office

For more information and to apply, click here

Baker McKenzie Open Day

What: Baker McKenzie open days give you the chance to find out more about the kind of lawyers they are and the work they do. You’ll take part in workshops on topics such as negotiation, commercial awareness and application skills. You’ll also get the opportunity to meet and learn from the experiences of some of their partners, associates and trainees over lunch.

When: 25th October; 6th December; 10th December (apply from 1 October)

Where: Baker McKenzie London

The decision has wide-ranging implications for businesses and litigators alike as to what information from internal investigations is protected by privilege, after the Court of Appeal today (5 September) ruled the ENRC is not obliged to disclose a series of documents which had been requested by the SFO.

Simmons & Simmons senior partner Colin Passmore told Legal Business: ‘This is incredibly good news for privilege. At long last we have some serious pushback on the previous ruling. Litigators across the City will no doubt be saying “Thank goodness, but why did it take so long?”’

Mining giant ENRC had argued that documents it prepared during an internal investigation should not be disclosed because they were covered by LPP, but a May 2017 High Court judgment from Justice Andrews ruled there was ‘a recognised public interest in the SFO being able to go about its business of investigation and prosecuting crime; and the sort of evidence which one would expect to be found in the disputed documents is likely to be of considerable value to its current investigation.’

At the time, an ENRC spokesperson said the company would appeal the decision ‘because the effect of this judgment is that a party who wishes to consult a lawyer in relation to an SFO dawn raid or criminal investigation is not entitled to the protections afforded by litigation privilege’.

ENRC was subsequently granted a right to appeal in October 2017, which led to today’s judgment in the Court of Appeal.

Also welcoming the decision was Clifford Chance litigation partner and president of the London Solicitors Litigation Association, Julian Acratopulo, although he noted that the Court of Appeal passed on the opportunity to make judgment on the separate issue of legal advice privilege. That issue dates back to the 2004 Three Rivers case, and who specifically in a company constitutes “the client” and can therefore be protected by privilege.

He told Legal Business: ‘The ruling on LPP is very important because it underpins the entire legal firmament of this country. While the court has given some useful guidance on the legal advice privilege, ultimately it said it should be left for the Supreme Court to determine.’

Herbert Smith Freehills disputes partner Julian Copeman agreed with Acratopulo’s assessment, commenting: ‘It’s a good judgment but it’s an opportunity missed to put a nail in the coffin of the Three Rivers decision.’

The judgment noted change was needed on the issue of legal advice privilege, but conceded it would be better dealt with by the Supreme Court: ‘In the modern world… we have to cater for legal advice sought by large national corporations and indeed multinational ones. In such cases, the information upon which legal advice is sought is unlikely to be in the hands of the main board or those it appoints to seek and receive legal advice.’

ENRC was represented in the case by Hogan Lovells partner Michael Roberts, who instructed Bankim Thanki QC, Tamara Oppenheimer and Rebecca Loveridge of Fountain Court Chambers. ENRC had previously been represented by Signature Litigation and its founder Graham Huntley, but Hogan Lovells took over the mandate in May 2017.

In addition to the privilege ruling, the case brought to light allegations from ENRC that Dechert partner Neil Gerrard had leaked confidential information to the press in July 2011 to expand the scope of the SFO’s investigation.

ENRC had enlisted Dechert and Gerrard in 2011 to assist in self-reporting ahead of the SFO probe, but the company alledges Gerrard arranged for privileged information to be passed on to The Times, which wrote an August 2011 article which led to the initial approach from the SFO.

ENRC said it was pursuing legal proceedings against Dechert and Gerrard. The relationship between ENRC, Dechert and Gerrard had already been soured after the mining giant claimed to have been overcharged last year.

In February last year, the High Court ruled that the ENRC will be able to have £11.6m bills assessed, after Master Rowley noted that Dechert’s billing estimates were ‘considerably awry on every occasion’.

A Dechert spokesperson said the firm defended its work and denied what it called ‘unfounded’ allegations: ‘We stand by the work we did and look forward to the opportunity of defending it in open court. We note that the criminal investigation by the Serious Fraud Office into ENRC is continuing and deplore ENRC’s attempt to discredit that investigation by seeking now to publicise unwarranted allegations against Dechert and its personnel.’

[email protected]

Heavyweight litigator Ilya Rybalkin and corporate veteran Suren Gortsunyan have launched Rybalkin, Gortsunyan & Partners (RGP) alongside 11 associates, counsel and paralegals from the US firm – a team which claims to have been involved in transactions cumulatively worth over $80bn.

The move comes as growing tensions between Russia and the West and US sanctions against leading Russian business owners are increasingly hindering western firms from servicing Moscow clients.

‘A team spin-off of this calibre and scale from a leading international firm is unprecedented in the Russian legal market,’ said Rybalkin, who was one of the top earners at legacy Hogan & Hartson before quitting shortly after its 2010 merger with Lovells and is credited with building up Akin Gump’s key Russian dispute resolution and investigations practice.

His clients included investment group Renova, whose owner Viktor Vekselberg was included in the latest US sanctions on 6 April and who saw billions of dollars in foreign assets frozen. The sanction regime also prevents US firms from supporting individuals included in the lists, a clear issue for western law firms with a large Russian client base.

‘At a time when sanctions and other geopolitical measures are distracting law firms from their main goal of serving clients, we expect to attract further senior lawyers from international law firms, added Rybalkin.

Alongside Rybalkin and fellow Hogan Lovells alumni Gortsunyan, former Akin Gump counsel Oleg Isaev will also start as partner at the new firm, which aims to have at least 15 fee-earners by the end of the year.

RGP will work with Akin Gump on a non-exclusive basis, including on current matters.

Once regarded as the western legal elite’s El Dorado, international firms have been on the slide in Russia since the invasion of Crimea in 2014, which prompted the US and EU to publish subsequent lists of sanctioned Kremlin-linked oligarchs and plunged the local economy into financial crisis.

The Russian operations of international firms has been under increased scrutiny lately, with Britain’s foreign affairs select committee criticising Linklaters for its role in the $1.5bn IPO of energy company En+, owned by sanctioned oligarch Oleg Deripaska.

Meanwhile, even New York firms like Cleary Gottlieb Steen & Hamilton and Skadden Arps Meagher & Flom, which built a substantial part of their business on Russian clients, have scaled down their local presence since 2014.

[email protected]

The investment, announced today (5 September), is the first external backing the AI company has received since its inception in 2011, with ex-Weil Gotshal & Manges associate and co-founder Noah Waisberg and Kira CTO Alexander Hudek initially funding the start-up themselves. The company saw year-on-year revenue growth of more than 100% for 2017.

As part of the deal, Insight’s managing director Peter Sobiloff will join the board at Kira, as the company looks to continue a growth trajectory which has so far seen the team more than double in the last year, from 55 to 115 employees.

The much-touted AI platform already has impressive credentials, with current clients including Clifford Chance (CC), Freshfields Bruckhaus Deringer, Linklaters and DLA Piper.

The investment sees Kira’s machine learning contract analysis system receive the largest backing for a company of this kind.

The fledging legal tech scene has also seen in-house legal fee tracking start-up Apperio secure $10m in funding last month, matching the $10m milestone raised by Luminance in 2017. Meanwhile, AI counterparts Eigen Technologies secured £13m in investment in June this year, as ever-increasing sums are invested into the sector.

Despite the scale of the investment, Waisberg and Hudek will retain a majority stake in the company, which now considers growth the immediate and long-term aim.

Waisberg told Legal Business: ‘We already had significant money to invest in the business and this helps us to make more aggressive investments to create the product we want. There is a lot of investment capital looking for a good home. We will be seeing more and more tech start-ups in the future.’

[email protected]

Junior lawyers at the firm will now earn £78,000, a 4% increase on the previous NQ salary of £75,000.

Trainee salaries have also been increased. Newbie pay has been upped from £43,000 to £44,000 in the first year and from £48,000 to £49,000 in the second year.

Future Mayer Brown joiners can also rejoice as the LPC maintenance grant has received a healthy £3,000 boost, taking the total from £7,000 to £10,000. The firm is the latest in a string of outfits to increase financial provision to support future trainees whilst they are studying.

1. Amazon’s market value tops $1tn [via BBC News]

2. Debit card glitch means thousands charged twice [via BBC News]

3. Coca-Cola buys Costa Coffee from Whitbread for £3.9bn [via The Guardian]

4. Unmarried mother Siobhan McLaughlin wins Supreme Court benefit case [via BBC News]

5. Viagogo sues Ed Sheeran’s promoter in fraud claim [via BBC News]

6. John Lewis department store cuts 270 jobs as it rebrands [via The Guardian]

The US firm will now pay its soon-to-be trainee solicitors £11,000 to support them financially while they study for the final stage of their legal academic training. The latest uplift makes Sidley the highest payer in London in terms of maintenance grants.

Sidley joins a raft of London firms who have recently boosted the financial provision awarded to future trainees.

London-based start-up Funding Circle, which provides a loan platform for SMEs in the UK, US, Germany and the Netherlands, announced today (3 September) its intention to issue at least 25% of its share capital to raise around £300m.

Freshfields, led by capital markets partners Mark Austin and Doug Smith, are acting for Funding Circle, while Linklaters’ corporate partner John Lane and capital markets partner Pam Shores are advising joint co-ordinators and bookrunners Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Securities.

Funding Circle was founded in 2010 and has since lent more than £5bn of loans, of which more than £1bn was lent in the first half of 2018. The company has opened up small business lending as an investment asset class to a range of investors including retail, banks, asset management companies, insurance companies, government-backed entities and funds.

Projected investor returns for loans originated in 2017 are expected to range between 4.6%-7.6% across Funding Circle’s geographies, while the company recorded revenue of £94.5m for the year ended 31 December 2017: an 86% uptick on the £50.9m it reported in 2016.

Freshfields’ Mark Austin told Legal Business that the IPO was another shot in the arm for the London listing market, coming so soon after last week’s announcement that upmarket car maker Aston Martin was planning to float.

‘Tech companies planning IPOs can go over to New York, so it’s a good thing that this great home-grown company, which will be another tech unicorn listing, has chosen London instead.’

This is the second London float to be announced since new rules governing IPOs were brought into force on 1 July 2018, requiring unconnected analysts to be involved in the transaction and for the registration document to be published before the prospectus.

While the market is relatively buoyant at present, few advisers are expecting deal activity to continue strongly into next year.

Noted one corporate partner: ‘These deals are great for London considering the geopolitical situation at the moment with Brexit, but I think H1 2019 will be quieter. I can’t see investors flocking when there’s so much uncertainty.’
Meanwhile, Linklaters acted as the adviser to the sponsors of the 860MW Triton Knoll offshore wind farm which last Friday (31 August) made it over the line on a financial close that will see £2bn injected into the UK project.

The Linklaters team was led by partners Richard Coar and John Pickett. The firm also recently advised Innogy Renewables UK on a deal to sell a total 41% of its interest in the project to a subsidiary of Electric Power Development, J-Power (25%), and to a subsidiary of Kansai Electric Power (16%).

A consortium of 15 banks is set to provide £1.71bn of debt for the wind farm, which will be built off the coast of Lincolnshire.

The lenders are: ABN AMRO Bank, Banco Santander, Bayersische Landesbank, BNP Paribas, Commerzbank Aktiengesellschaft, ING Bank, KfW IPEX-Bank, Landesbank Baden-Württemberg, Landesbank Hessen Thuringen Girozentrale, Lloyds Bank, MUFG Bank, National Westminster Bank, Natixis, Skandinaviska Enskilda Banken, Sumitomo Mitsui Banking Corporation.

MUFG also acted as financial adviser on the deal.

Coar commented: ‘The success of Triton Knoll clearly demonstrates that the appetite of both global equity investors and commercial banks in the UK offshore wind sector remains strong. There is a healthy portfolio of both greenfield and brownfield offshore wind assets in the UK and across the rest of Europe and the ability of the sector to continue to attract both existing and new classes of capital at increasingly competitive rates will be key to its continued success.’

[email protected]