Insights

Washington – June 1, 2023: Crowell & Moring earned 82 rankings for 68 lawyers across 48 categories, as well as 37 national and statewide practice area rankings, in the Chambers USA 2023 guide. The rankings are driven by independent interviews of clients and lawyers at peer firms.

Washington – June 1, 2022: Chambers and Partners has ranked 70 Crowell & Moring lawyers in 84 rankings across 40 categories in the Chambers USA 2022 guide. In addition, 37 practice areas were also ranked in the guide. The regional and national rankings are driven by independent interviews of clients and lawyers.

On 19 March 2024, the Government followed through on a promise from the Ministry of Justice to introduce draft legislation to reverse the effect of  R (on the application of PACCAR Inc & Ors) v Competition Appeal Tribunal & Ors [2023] UKSC 28.  The effect of this ruling was discussed in our prior alert and follow on commentary discussing its effect on group competition litigation and initial government reform proposals. Should the bill pass, agreements to provide third party funding to litigation or advocacy services in England will no longer be required to comply with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”) to be enforceable.

On 29 June 2023, the long-awaited Financial Services and Markets Act 2023 (the “Act”) received Royal Assent, clearing the Act’s final hurdle prior to its implementation. The Act is the framework for the UK’s post-Brexit financial legislative and regulatory landscape.  Focusing on the promotion of competition, innovation and investor protections, it hopes to ensure the UK’s continued leadership in the global economy by providing “a smarter financial services framework”. While the Act is 349 pages in length, we have set out some of the key themes and regulations currently making headlines.

In R (on the application of PACCAR Inc & Ors) v Competition Appeal Tribunal & Ors [2023] UKSC 28, the U.K. Supreme Court has declared litigation funding agreements based on a cut of damages to need to comply with the Damages-Based Agreements Regulations 2013, while the Court of Appeal in Evans & O’Higgins v Barclays [2023] EWCA Civ 876 expands the scope of likely competition opt out litigation approval.

ABF Journal speaks with New York partner Rick Hyman about 2021 being slower than anticipated for many restructuring professionals due to support from the federal government, unending liquidity from private lenders, and a further decline in interest rates. Hyman explains the ways in which the general economic recovery in 2022 may ironically correspond with an uptick in restructuring work.