Former Asia Pacific practice head takes global role
The former Asia Pacific head of the litigation and dispute resolution practice at Clifford Chance
has been promoted to a global role at the firm.
Matthew Newick will lead the global, Litigation, Dispute Resolution and Risk Management practice, succeeding Jeremy Sandelson who will remain with the firm and focus on client work and other projects.
"It is a great honour to be chosen to succeed Jeremy, who is a very hard act to follow. I look forward to working with my colleagues around the world as we help clients to deal with the most complex and critical challenges they face," Newick commented.
Newick was based in Hong Kong from 2013 until January 2017 when he returned London. He has been with the firm since 1991 and in his new role he joins the executive leadership group.
Ashurst advised Melbourne City Council on landmark power deal
Ashurst has advising a consortium led by Melbourne City Council on a deal which marks the first of its kind in Australia.
A total of 14 buyers are entering into collective corporate power purchase arrangements (PPAs) for electricity and large-scale generation certificates which will partially underwrite the development by Pacific Hydro of the Crowlands Wind Farm in Victoria.
It’s the first time a group of local governments, cultural institutions, universities and corporations has collectively purchased renewable energy to assist the underwriting of a new, large-scale generating facility.
The Ashurst team was led by utilities partner Jeff Lynn, assisted by partner Peter Limbers, counsel Justin Jones and senior associates Cassandra Wee and Caroline Lindsey.
International firm backs LawTech with U$50 million valuation
A legal profession focused artificial intelligence firm has closed a $10 million Series A funding round that values the business at $50 million.
British-based Luminance is actively targeting the lucrative US legal services market and has announced the opening of a new Chicago office. The new investment was led by Talis Capital and includes international law firm Slaughter & May, which already uses the firm’s AI technology.
“Slaughter and May has worked closely with the Luminance team since the product’s inception,” commented partner Sally Wokes. “The knowledge we have gained through piloting, testing and using the software on live transactions gives us real confidence in what we consider to be a highly differentiated due diligence tool. Our decision to invest in this latest funding round reflects our belief in Luminance and our commitment to harnessing innovation for the benefit of our clients.”
Luminance already has 50 leading organisations worldwide among its customers, including Australia’s Gilbert + Tobin, New Zealand’s Chapman Tripp, and Singapore’s WongPartnership.
“Just one year after launch, Luminance has already proven its value with leading law firms globally. We’re excited to boost our operations across the Atlantic with the opening of our Chicago office, and to continue to bring legal innovation to new markets around the world,” Luminance CEO Emily Foges said.