find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Lehman lawyers stay to pick up the pieces

Lehman lawyers stay to pick up the pieces

COLLAPSED bank Lehman Brothers has asked its London in-house legal team to stay on to help with administration, despite the fact that most will eventually face the axe.As reported in The Lawyer,…

COLLAPSED bank Lehman Brothers has asked its London in-house legal team to stay on to help with administration, despite the fact that most will eventually face the axe.

As reported in The Lawyer, the 70 lawyers in Lehman’s London office have been asked to stay on for several months to assist PricewaterhouseCoopers with the administrative process. However, according to a Lehman insider, it’s been made clear that the only legal positions that are likely to be retained over the longer term are those in parts of the business that are sold off.

There was initially some uncertainty as to whether the London lawyers would be paid for the month of September, because the bank operated a no-cash policy in the UK, transferring money to the US operation at the close of each day. However those rumours were quickly put to rest by PWC which issued a statement confirming that all lawyers would be paid.

According to The Lawyer, UK legal recruiters have been flooded with CVs from Lehman lawyers in past weeks, with many looking to move into private practice firms. All up, there are about 200 staff in Lehman’s UK legal compliance and audit department.

>> For the latest news, views and analysis of issues affecting in-house lawyers, check out Lawyers Weekly's dedicated in-house site www.lawyersinhouse.com.au

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Lehman lawyers stay to pick up the pieces
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Aug 16 2017
Urgent criminal law reforms can prevent ‘unwarranted acquittals’
Concerns about unfair prejudice arising from the use of tendency and coincidence evidence are mispla...
Aug 15 2017
Press Control-S on your firm
Promoted by BHL Software It’s now a truism that when your IT systems stop working, so does you...
Aug 15 2017
The Importance of Leadership Skills for Aspiring Lawyers
Promoted by LHD Lawyers Even the most prominent lawyers of our age (or ages past, for that matter...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...