International firms announce increased revenue

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International firms announce increased revenue
Pinsent Masons and Clyde & Co have both announced increases in their global turnover this week.

Pinsent has seen an 11% boost to its revenue for FY16/17 compared to the previous year, to reach £423.1m (equivalent to AU$546.6m at current rates). Advanced Manufacturing & Technology (21%) and Financial Services (20%), were the largest contributors.

Among the firm’s standout mandates of the year it advised Samsung C&T on the AUD$2bn Roy Hill Iron Ore Mining dispute, one of the largest disputes undertaken in Australia.

It also expanded its Vario legal resourcing hub into Australia as part of its long-term growth strategy.

Meanwhile, Clyde & Co has seen revenue rise by 14% to a pre-audit global turnover of £508.1 million (AU$656.4m), the first time it has surpassed half a billion pounds.

Profit was up 9% to £127.6 million while PEP was down slightly due to an increased number of equity partners.

International firm strengthens Asia Pacific offer with team hire
Withers has hired a 12-strong team to boost its corporate practice in Asia Pacific.

The UK-headquartered law firm has hired former Winston & Strawn’s Asia head of corporate Mabel Lui as head of Greater China corporate, together with two partners, four associates, three paralegals and other support staff.

Aussie lawyer returns to region as ICE disputes head
Jeremie Witt has been appointed head of the Asia Pacific Infrastructure, Construction & Energy practice at global firm CMS.

Witt studied law at Flinders University of South Australia and is admitted in Australia and England & Wales as well as holding Part II registration with the DIFC Courts in Dubai.

He has been working at CMS in Dubai as partner in the ICE practice and will continue to serve his existing client base from his new location in Singapore.

He will lead a team of three based in the city state, adding to the firm’s global ICE practice of 60 lawyers.

Osborne Clarke acts in IP dispute over Pink Floyd legend’s album
The latest album release from Pink Floyd legend Roger Waters has required the assistance of international firm Osborne Clarke.

The lawyers have been brought in by Sony Music which is fighting an IP dispute with Italian artist Emilio Isgrò who contends that the cover to Waters’ “Is This the Life We Really Want?” is similar to one of his works.

Sony’s argument included a report from art critic Vittorio Sgarbi who said that  Mr Isgrò “had intercepted an atmosphere and developed an expressive technique. His obsession cannot however impose itself as a prohibition on others from utilising the same gesture or archetype (acknowledged as not his).”

Osborne Clarke partner Frederico M. Ferrara noted that the case goes to the very foundation of copyright.

“Although an artist may come to be associated with a particular form of work – such as Cubism or Pop Art – copyright generally will not prevent other artists from adopting that style and using it to create their own, equally original works,” he said.

Sony is permitted to resume sales of the album pending a hearing on 17th July. The parties are expected to negotiate in the interim.