Largest London legal IPO intention announced

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A legal services business in the UK is set to go public with the London Stock Exchange’s largest legal profession IPO.

Knights, which describes itself as “one of the UK’s fastest growing regional legal and professional services businesses” is to seek admission of its ordinary shares to trading on the Alternative Investments Market of the LSX.

The valuation is estimated to exceed the £100 million valuation for Gateley which became the UK’s first publicly-listed law firm in 2015.

CityAM.com reports that Knights entered the UK’s top 100 law firms last year following rapid growth from revenue of £8 million in 2012, to £34.9 million in 2017.

The IPO would provide Knights with a ‘war chest’ of funding for acquisitions, which would target those firms below the large global and UK top 50 national players.

Appeal likely following Oztech v PTQ judgement
A partner acting for the noteholders in the long-running Oztech Pty. Ltd v Public Trustee of Queensland case, says an appeal is likely.

A Federal Court of Australia judge found in favour of the PTQ on Monday (4th June) in a dispute centres on the conduct of the PTQ and the financial losses suffered by noteholders in a managed investment scheme.

Squire Patton Boggs partner Amanda Banton says a preliminary review of the judgement suggests “utility in appealing and [we] will likely appeal.”

“In complex cases such as this, it is often not until an appeal court decision that the result is known,” she adds. “This is particularly the case where new areas of law such as those relating to trustees’ duties under section 283DA of the Corporations Act are concerned and where no relevant decisions have been made by the court.”

Firms partner for co-author hedge funds book
Partners from DLA Piper and Simmons & Simmons have co-authored a book focusing on laws relating to the hedge fund sector.

The book, The Law of Hedge Funds: A Global Perspective’ is a second edition of the book from DLA Piper’s head of investment funds Andrew Wylie and Simmons & Simmons partner Dale Gabbert.

"There are very few books published about hedge funds and we are proud to have created this fine volume about the global hedge fund industry. We consider that ‘The Law of Hedge Funds’ illuminates this complex and multi-faceted area of law,” commented Wylie.

Several lawyers from both firms contributed to the book which is available from LexisNexis.