Home

London Law Firms Getting Astronomical Fees from Feuding Russians
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Forget about rainmakers, think hurricanemakers: Russian business tycoons fighting against each other in U.K. are paying fees that would put the best rainmakers in U.S. in doubt over their abilities to apply cosmetics to the billable hour. According to a recent news by Guardian UK, the legal fees associated with the recent win of Chelsea FC owner Roman Abramovich against his arch-rival Boris Berezovsky may top 160 million dollars – the case lasted four months. That’s about a bill of 0.25 million dollars per hour considering a 40-hour week and working every day for four months, leaving out weekends. And that’s just one war of the Russians ending in U.K. courts.

While the benchmark may have already been set, there’s a slew of legal battles between Russian billionaires in the pipeline in London. The U.K. courts are set to hear the next round of a legal battle between Oleg Deripaska, a Russian billionaire and Michael Cherney, an Uzbek businessman.

Also this year, Kazakh billionaire Mukhtar Ablyazov fled the UK after he was found lying about his vast fortune in a fraud case – he is now a fugitive from UK, and his  property in UK de facto forfeit.

  
What
Where


According to Mark McAteer, the national editor of Legal Business magazine, the legal battles between Russian businessmen have, for the first time ever, pushed the profits of the top 100 law firms in London above 5 billion GBP. McAfee said, “litigation for Russian clients has been a massive source of revenue for a number of firms – both big firms and boutique firms … they (Russians) approve of the (UK) system of usually having a fair playing field and we have very good judges and lawyers.”

Whatever be the case, for now, the Russians are fighting to make U.K. lawyers rich. The Legal Business survey shows combined profits of the top 100 law firms in London increase by 8% and revenue rise by 17% last year.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Corporate, Mergers and Acquisitions and Securities Associate Attorney

USA-NY-New York City

New York City office of our client seeks corporate, mergers and acquisitions and securities associat...

Apply Now

Business Litigation Attorney

USA-CA-Santa Monica

Santa Monica office of our client seeks business litigation attorney with 1-3 years of experience. T...

Apply Now

Intellectual Property Litigation / Enforcement Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks intellectual property litigation / enforcement associate at...

Apply Now

Eminent Domain Attorney

USA-TX-Richmond

Richmond office of our client seeks eminent domain attorney with 5+ years of experience. The candida...

Apply Now

RELEVANT JOBS

Hotline & Training Managing Attorney (IMMIGRATION)

USA-NY-New York City

The Hotline & Training Services Managing Attorney will guide, develop, and supervise the Hotline sta...

Apply now

Associate Attorney

USA-CA-Sacramento

A civil plaintiff’s law firm is hiring for an associate attorney, preferably with strong resea...

Apply now

Associate Attorney

USA-TX-San Antonio

One of Texas\'s largest Personal Injury Law firm seeks a highly motivated associate attorney with 3-...

Apply now

Associate Attorney

USA-TX-Dallas

One of Texas\'s largest Personal Injury Law firm seeks a highly motivated associate attorney with 3-...

Apply now

SEARCH IN ARCHIVE

To Top