Interesting NZ Law Firm News!
May 25, 2010 by Damian
The New Zealand legal landscape is not known for providing a huge amount of exciting news but in the last week or so, I have seen a couple of very interesting articles that are definitely worth a read.
The first one concerns the standing of DLA Phillips Fox in NZ and whether the firm is going to split off from DLA Phillips Fox Australia
http://au.legalbusinessonline.com/news/breaking-news/45796.
It also mentions a very juicy bit of gossip about where the NZ arm of the firm may end up.
That story is all speculation but a very interesting factual development has just been announced by Minter Ellison Rudd Watts –
http://lawyersweekly.com.au/blogs/top_stories/archive/2010/05/24/minters-nz-taking-on-uk-work.aspx
Minters in NZ “has uncovered a new revenue stream working with UK-based law firms and clients to assist with their legal work at around half the price of UK-based lawyer rates”.
My first thought was that this was quite a strange move for a leading NZ law firm, given the concerns there are about outsourcing, but on reading the article, the work accounts for less than 1% of the firm’s total revenue and is not in the firm’s core areas. So on reflection, I think that it is a very innovative idea for a NZ law firm, taking advantage of the expertise of the its lawyers and the time difference between NZ and the UK.
I suspect that this will not be the last time that this sort of arrangement happens!
The final article of interest concerns Kensington Swan –
http://au.legalbusinessonline.com/law-firms/new-equity-structure-ruffles-feathers-at-kensington-swan/1001/45857.
These sorts of things happen all the time in the UK, US etc so are hardly news at all over there. However, over here, they create a little more of a ripple.
Sometimes, when talking to people about the legal market in NZ, comments are made about how nothing ever seems to change. Judging by these 3 articles, it seems like there is going to be a bit of a shake up down here. AT LAST!