This Month
Private equity shop Whiteoak adds to technology streak with Avolution
Managing director Greg Garvin has led majority investment in the business architecture modelling tool.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Top-tier firms are cutting lawyer numbers for the first time in years
The country’s most prominent legal practices have reduced the number of lawyers they employ in the past six months. But their mid-tier rivals are hiring.
- Maxim Shanahan
Another Corrs partner follows rebel group to KWM
Corrs property partner Lizzie Knight will follow seven Corrs partners to King & Wood Mallesons, becoming the latest to move between the two major firms.
- Maxim Shanahan
Explore: Law Partnership Survey results for second-half of 2024
The latest results show law firms continue to perform strongly, boosted by big-ticket deals, litigation assignments, and the steady flow of fees from insolvencies and disputes.
- Maxim Shanahan and Edmund Tadros
It was a boom year for law firms. But signs of a slowdown have emerged
Law firms held their gains in the second half of 2024, but some leaders are wary of rising pressures on price and profit margins.
- Maxim Shanahan
October
Why the $5m lawyer is no longer a rarity at top Aussie firms
Top law firms are forking out more than $5 million a year to poach or protect big-billing market leaders from rivals, amid intense industry competition.
- Maxim Shanahan
September
KWM changes partner pay to reward the biggest billers
KWM’s top-performing partners will be able to take home a greater share of the firm’s profits, after “moderate” changes to remuneration structure were approved by partners.
- Maxim Shanahan
Major class action against Virgin Australia gathers steam
The central allegation is that the then ASX-listed Virgin Australia used multiple tactics to make its cash position look better than it was – before collapsing into administration. And there’s fresh evidence to back up these claims.
- Sarah Thompson, Kanika Sood and Emma Rapaport
ASX nears record; Housing eats economy; Top lawyer’s $18m home
Read everything that’s happened in the news so far today.
Corrs’ handcuffs aren’t enough to stop the exits
Another well-liked partner has left the law firm, bringing the total number of departures to 10 since the CEO’s contract extension.
- Mark Di Stefano
Shorten quits; Blackstone’s $100b AirTrunk plan; Corrs’ latest exit
Read everything that’s happened in the news so far today.
Corrs partner heads to Ashurst in run of departures
Real estate partner Alexandra Peace, who was hired from Allens in 2019, is the tenth Corrs partner to leave in the past month.
- Maxim Shanahan
August
Corrs pays premium for new partners amid string of high-profile exits
It has also emerged that the firm’s board, made up of current partners and a former partner, investigated and dismissed allegations of bullying and inappropriate conduct made at the start of the year.
- Edmund Tadros
Mass exodus at Corrs after historic CEO pay package
The country’s most talked about law firm faces mass partner flight – the largest batch in the legal sector for years.
- Updated
- Mark Di Stefano
Top law firms locked in negotiations for lucrative panel
Corrs, HSF, KWM and MinterEllison are yet to be appointed to the federal government’s legal panel, more than a month after an initial announcement.
- Maxim Shanahan
July
Rebel Corrs group seeks move to King & Wood Mallesons
Five partners in Corrs’ employment practice are in discussions to shift to rival firms, after some in the group voted against a controversial contract extension.
- Maxim Shanahan
Rapid growth puts pressure on law partnership structures
Almost two-thirds of new legal partners are now on a part-salary arrangement as rapid growth puts pressure on equity allocations.
- Maxim Shanahan
June
Energy transition lights a rocket under law firms
Law firms are streaking ahead of the broader economy, adding partners as deals return and the energy transition offers decades of lucrative work.
- Maxim Shanahan
May
Bullying allegation at Corrs prompts regulator to get involved
SafeWork is “making inquiries” into a complaint at the law firm and has requested access to documents, but Corrs says the regulator has no plans to investigate further.
- Maxim Shanahan
Law graduates are about to crack a salary record
Top-tier graduates will earn more than $100,000 this year – in Sydney only – but law firms remain tight-lipped on pay rates despite moves towards transparency elsewhere.
- Maxim Shanahan