🎅🏼 Your commercial Christmas roundup

Table of Contents

• EDITOR’S RAMBLE 🗣

• THIS WEEK’S NEWS 🗞

• AROUND THE WEB 🌐

• STUFF THAT MIGHT HELP YOU 👌

EDITOR’S RAMBLE 🗣

It’s Christmas Day — hope you’re enjoying it with friends and family (you can close this email and read it tomorrow).

Well, I got what I wanted for Christmas: a newsletter sponsorship from Nike! 🤯 

Anyway, today’s edition will be shorter than usual because, well, I have to cook a turkey for 12 people.

Also, I made this video on how you can get better at video interviews FAST — by building your own interactive interview simulator (it’s super easy).

P.S. I’m 203 subscribers short of my 2024 goal of 10,000! Subscribe for a chance to win a £20 Amazon voucher – just email me saying, “I’ve subscribed” (after you’ve actually subscribed!). I’ll pick a winner at random on 1 January.

- Idin

THIS WEEK’S NEWS 🗞

✨ Clifford Chance names its first Black woman managing partner

What’s going on here?
Clifford Chance has named Chinwe Odimba-Chapman as its London managing partner, marking the first time a Black woman has held this role. Starting in 2025, she’ll also co-lead the firm’s European region.

Why’s it important?
The appointment is a big step for diversity in leadership at top UK law firms (which is still lacking). Clifford Chance is also at a really exciting point right now — they firm’s balancing record revenues (£2.3 billion), growth in the US and initiatives like the "One Europe" strategy, which ensures its European offices work as one.

(Read more)

📞 Simmons helps BT defeat a £1.3 billion class action claim

What’s going on here?
The Competition Appeal Tribunal dismissed a £1.3 billion class action claim against BT, which accused the telecom giant of overcharging 3.7 million landline customers.

Why’s it important?
Simmons & Simmons represented BT successfully arguing that the pricing, while "excessive," was not "unfair" and therefore didn’t breach competition law.

This was the first class action trial under the UK’s 2015 ‘opt-out’ regime (we wrote about ‘opt-in’ vs ‘opt out’ claims). Plus, BT’s share price got a small bump after the verdict.

While the ruling is a blow to claimants (represented by Mishcon), an appeal could still be on the cards.

(Read more)

TOGETHER WITH NIKE* 🤝

Feel Your Best on the Field With Nike Kylian Mbappé Collection.

Discover the Nike Kylian Mbappé collection, crafted for players ready to take their skills to the next level. Featuring standout styles like the Vapor and Superfly, these boots combine cutting-edge technology with eye-catching designs inspired by the pros. Experience the game-changing Air Zoom unit for explosive acceleration and a responsive touch, whether you’re making that perfect through ball or striking from distance. Treat yourself to a fresh pair from the collection and dominate the pitch. You deserve to feel your best on the field.

Shop the Kylian Mbappé Collection.

* This is sponsored content

🇺🇸 DAC Beachcroft enters the US market, twice

What’s going on here?
DAC Beachcroft is launching offices in New York and Los Angeles in January.

Why’s it important?
This move strengthens the firm’s insurance practice and is a big step in their plans for international growth.

The US is a critical market for global law firms — and DAC Beachcroft’s revenue gains (+9%) and profit gains (+15%) show their international investments have been effective.

This year, they opened offices in Hong Kong and Peru. Last year, they expanded into Milan, Rome, and Buenos Aires.

(Read more)

⚽ Everton Football Club gets new owners

What’s going on here?
The Friedkin Group (an American business group) has acquired a majority stake in Everton FC, advised by Proskauer.

Why’s it important?
The deal was particularly complex because of the regulation on how football clubs are owned.

There are new limits on owners of football club lending money to those clubs. So, to comply with the role, Everton first had to convert debt it owed to its old owners into equity in the club to be able to complete the transaction.

A debt-to-equity swap is where a company (or football club, in this case) converts its debt into equity, essentially replacing what it owes with ownership stakes.

Here’s how it works:

1. Debt exists: The company owes money to a lender.

2. Agreement to convert: Instead of repaying the debt in cash, the lender agrees to take ownership shares in the company instead (which has value).

3. New equity issued: The company issues new shares to the creditor in exchange for canceling the debt.

4. Outcome: The creditor now owns part of the company (and isn’t a lender to it).

In Everton's case, this swap meant converting what the club owed to its previous owners into shares in the club. It needed to do this to comply with Premier League rules on shareholder loans and make the deal with the new owners possible.

(Read more)

AROUND THE WEB 🌐

• 🌲 Amazing: Watch a beautiful timelapse of a pinecone becoming a pine tree

• 🎵 Music: This interactive map lets you tune into 7,000+ radio stations worldwide

• 💻️ Errors: Here are the 8 worst tech failures of 2024 (yes, the CrowdStrike’s on there)

STUFF THAT MIGHT HELP YOU 👌

• 📹️ Free application help: If you're applying to commercial law firms, check out my YouTube channel for actionable tips and an insight into the lifestyle of a commercial lawyer in London.