Cahill Gordon starts on litigation practice in London
Veröffentlicht am 16. Apr. 2015
As the first major US firm to gain an alternative business structure (ABS) license in the UK, Cahill Gordon & Reindel started a litigation practice in London after hiring partner Richard Kelly in early April.
Founded in 1919, Cahill Gordon & Reindel is a New York-based international law firm, specialized in litigation and corporate areas. It opened its London office in 2000, and building a litigation capacity in London seemed just a natural choice to the firm. Since the litigation and financial markets are prominent both in London and New York, the interconnectivity between the two cities often leads to the situation where “a major litigation or regulatory problem in one frequently resonates in the other”, according to the firm. Richard Kelly added: “Many companies facing this type of transatlantic problem prefer working with just one firm that has not only substantial experience with the specific legal issues at hand, but also deep local expertise in both jurisdictions.”
The alternative business structure (ABS) is a new type of legal entity created under the U.K. Legal Services Act 2007, which came into force between 2008 and 2011, with the aim of allowing law firms to raise capital from non-lawyers. The Solicitors Regulation Authority (SRA) is responsible for judging applications and for issuing licences, and around 450 applications have been approved since the legislation went into effect.
J. Y.