The growth of the London litigation market is the target of Eversheds Sutherland, with the hiring of two partners …
The growth of the London litigation market is the target of Eversheds Sutherland, with the hiring of two partners who bring experience in corporate and telecoms litigation.
Two London-based litigators have been hired by Eversheds Sutherland as part of a growth program for the litigation practice. The duo’s expertise in telecommunications, media and technology (TMT), accounting litigation, corporate affairs and insolvency indicates which areas, according to the firm’s litigation department, will be occupied in the future. over the next few years.
Philippe richardson joined the firm of Linklaters Monday July 5, while Sheena Bouddhev will join Akin Gump Strauss Hauer & Feld September 1. Both have earned promotions to join in the process.
Marc Davenport, head of commercial dispute resolution at Eversheds Sutherland, is proud of the growth of the litigation practice of over 10% per year over the past five years, and says new hires are fueling his plan for the next five years , both in the UK and internationally.
The couple are giving the company “something we don’t quite get by the minute,” he says CDR, noting Buddhev’s hedge fund, private equity and corporate litigation practice, which has synergies with non-litigation practices elsewhere in the firm. Richardson’s work on TMT and accounting litigation will again tie into existing capabilities: “These are areas of growth,” he says.
Aside from corporate work on behalf of private equity and hedge fund clients, Buddhev believes his practice, which includes a lot of insolvency work, “really suits today’s environment” because businesses face the financial realities of post-pandemic life.
“While insolvencies have been at an all-time low, in large part due to the aid programs the government has put in place, we fully expect insolvencies and restructuring work to increase during this year.” , she said.
She has also worked on international arbitration, and brings such a case with her to the firm.
On the corporate side, she points to the increase in shareholder litigation and disputes over Special Purpose Acquisition Companies (SPACs) in the United States, and she believes it is only a matter of time. that the two do cross the Atlantic: “I certainly see new opportunities due to investments and the changing legal environment”, in particular group litigation under the Financial Services and Markets Act 2000.
Buddhev spent five years with Freshfields Bruckhaus Deringer, moving to a senior partner, then nine years in the London office of Bingham McCutchen, headquartered in Boston, until the firm’s demise in 2014, joining Akin Gump as senior legal counsel in October of the same year .
His work includes in 2019 successfully defending an American businessman Robert Foresman before the High Court on an allegation that he was complicit with the Russian government in the disappearance of the oil company Yukos.
After reflecting during the lockdown, Buddhev believes the time has come for her to step up to partner level and was drawn to “a platform that I knew would provide me with the right base”, as well as connections to business practices.
“I saw that the litigation market was going to recover quite dramatically after the pandemic, as the environment improved, and I really wanted to take my career to the next level,” she adds.
Richardson says his mission will be to develop TMT and accounting practices, working alongside Kari mccormick, who joined as a financial services litigation and investigation partner of Salmon Burger in March 2020.
He saw a similar opportunity to develop his practice from a partnership within a firm that has expansion in mind: “There is the potential for my practice to complement what already exists, but hopefully. have acquired some experience and some clients and contacts who will be added to the team here and in particular some of my telecoms disputes.
The latter area has become even more important than usual during the pandemic and with the rollout of the 5G network there is a lot of upheaval in this sector, in addition to the business cycle and trade tensions in this industry between the West and the West. China. the technology we use is so state of the art and the regulatory environment is catching up to our level and as a sector there are real opportunities, ”he explains.
Another area where regulatory interest is increasing is accounting, given the financial distress caused by Covid-19 and with the Audit, Reporting and Governance Authority (ARGA) set to become the new UK regulator in 2023 .
“There are various professional issues that arise when you see flows in the business cycle and you see insolvencies, there will be both professional claims against accountants and auditors and insolvency practitioners, as well. as new regulatory actions. “
He has an eye on competition and tax issues for tech companies, as well as Lloyd vs. Google and its impact on the privacy of TMT data.
He spent six years with Linklaters, having started his association with the Magic Circle company while he was back in his native Australia, spending more than two years as a senior partner of his alliance company. Allen, in Perth.
Davenport says TMT is “an important area” for the business, as are energy disputes, while insolvency and hedge funds are “obvious areas for improvement” and accounting “continues to develop.” The approach is to “maximize opportunities,” he says.
He draws parallels between the pandemic and the aftermath of the global financial crisis ten years ago. “It also became the start of a wave of disputes. No one knows how it’s going to play out, but it’s probably a good time for litigation lawyers, and it looks like a good time to continue to expand the practice.
In a press release, the firm’s co-head of global litigation, Paul’s valuesaid the duo “joining our growing London litigation team at an incredibly exciting time,” referring to the growth of the practice over the past four years. “We continue to invest in a full service litigation and investigation practice at a time when some firms are adopting a more constrained approach,” he added.
Eversheds Sutherland last month combined with The Portuguese firm FCB Advogados, giving it a reach in Portugal, Africa and Latin America.
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