Business of Law Firms
Slaughters adds to its disputes practice​

By Jake Rickman​

What do you need to know this week?

The Lawyer reported on Monday that Slaughter and May has seen a dramatic increase in the number of disputes associates it has hired in the last year. The firm’s managing partner, Deborah Finkler, attributed the increase to a dramatic rise in the number of contentious matters the firm has been instructed on in recent times.

A highlight of the matters the firm has advised on as of late includes:
  • Advising Microsoft on its ongoing dispute with the UK Competitions Market Authority
  • Defending South Western Railway in a collective proceedings action brought against it in regards to allegations of overcharging
  • Defending JPMorgan against claims of foreign currency exchange manipulation
  • Advising the UK Government in a dispute over hundreds of military properties
  • Defending Credit Suisse from claims brought against it due to its role in a sovereign bond scheme in Mozambique
Why is this important for your interviews?

For over a year, TCLA has to varying degrees evaluated how a downturn in transactional work can be offset by increasing a firm’s exposure to contentious work. This is because contentious work is considered at the very least uncorrelated with the business cycle. And in some cases, there is evidence to suggest that the volume of disputes increases when market activity decrease.

This is real-world evidence that bears this theory out. Articulating how challenges can also create opportunities for law firms is a great way to demonstrate your commercial acumen to interviewers. Remember, law firms are businesses too!

PS: I know many of you are drafting your Winter Workshop and vacation scheme applications to Slaughter and May. The list of recent deals should come in handy.

How is this topic relevant to law firms?

Slaughter and May has always had a respectable disputes practice, but the growth in the number of disputes fee-earners suggests that management has made a concerted business decision to bulk up its offerings. No doubt this is influenced by a decrease in revenue it has received from its transactional work, among which its corporate/M&A practice is by some measures the most respected in the City.