Clifford Chance Tries To Limit Damage

The FT reports that Clifford Chance, the law firm at the centre of 'padding' allegations, is going into overdrive to limit the damage the claims will have on its business.

A damaging 13 page memo authored by six junior Clifford Chance US lawyers was recently made public. The memo accuses the firm of 'padding', a process where hours spent working for a client are inflated in order to meet internal billing targets.

The firm is now thought to have convened a 'war council' in order to limit the damage and prevent client defections. Jeff Wagland, a Clifford Chance spokesman said: 'We are adamant that padding does not happen; there are numerous safeguards in place and bills are vetted by partners. The suggestion in the memo is just that there is a temptation to exaggerate the number of hours worked'. Is that 'padding' ?

The firm has also confirmed that it is, however, reviewing its billing hours requirements.

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News