In these uncertain times, inevitably some firms will benefit more than others from the debris of our collapsing economy. As the fallout from the credit crunch continues, Kaupthing Singer & Friedlander, the state-controlled Icelandic bank has confirmed that it will sue the British Government over the Treasury’s decision to place Kaupthing’s UK arm into administration last October. US firm, Weil Gotshal & Manges, has been instructed by Kaupthing.

If following judicial review it is decided that the Government acted unlawfully then a further legal battle will ensue in which Kaupthing can claim compensation. So more potential opportunity for WGM.

Whilst the US firm may have picked up a solid prespect, UK regional firms continue to suffer. After a brief respite, the axe is once again being dusted off; East midlands-based Freeth Cartwright has begun a redundancy consultation process with 60 staff including 15 fee earners and 45 support staff…

The redundancies are expected to affect the firm’s offices in Nottingham, Derby and Leicester. Manchester and Birmingham staff appear to have escaped the cuts. Freeth Cartwright chairman Colin Flanagan confirmed that job losses were inevitable after the effect of the economic downturn last year.