On a darker note….. Our friends across the pond are preparing their partners for sinking revenues as they take stock of their financial progress at the half-year stage.

With US firms having their best year ever in 2007, the top 50 firms generating a collective revenue of $46.8bn (£23.4bn).

However now, With the sky falling in on over zealous mortgage folk, and the ever present end of the economic world predictions, 2008 seems a lot tougher. 

 

Are we nearly there yet? The UK’s top law firms led by Freshfields Bruckhaus Deringer, Allen & Overy, Clifford Chance and Linklaters are driving through the credit crunch achieving double-digit revenue growth for the third year running with average profits per equity partner (PEP) rising by 7.3%.

Others including Ashurst, CMS Cameron McKenna and Simmons & Simmons all grew their top line by more than 15%, with Herbert Smith and Norton Rose growing their revenues by more than 20%.