In-house leaders: have you experienced BigLaw “quoting low prices to get work that won’t even cover their costs“? A major lender to law firms attributes part of their financial stress to “compartmentalization” of work by in-house counsel.
A checklist for evaluating the outsourcing of litigation support, including core competencies, complexity, cost savings, risk and ethical issues.
U.K. panel news: big bank moves to cut backs its outside law firms, “squeezing advisers further on fees, with the reduction in the overall number of firms appointed expected to compensate for the tighter terms by resulting in more work for panel firms.” Meanwhile, the Government Procurement Service used an interesting process requiring bidders to respond to “an exam-style format for the first time, providing hypothetical advice in essay format.”
Billing pet peeves and horror stories – including budget surprises, inefficient juniors, and service gaffes.
AMR bankruptcy fees pass $100 million threshold (sub. req’d). “More than a dozen lawyers working regularly on the bankruptcy are charging $1,000 or more and three are billing at $1,150 an hour, according to court records. More than a dozen other lawyers are charging $900 to $975 an hour.”