Brits vs. Americans: Who’s Better Prepared to Weather a Recession? Richard Lloyd, The American Lawyer, March 24, 2008: “Traditionally, U.S. firms have benefited from the sheer size of the domestic U.S. economy, the American penchant for pursuing litigation at all costs and large bankruptcy proceedings that provided a seemingly endless gravy train for law firms. The U.K. firms, in contrast, do not see the same upside from countercyclical litigation work. There is simply not the same litigation climate in the United Kingdom, and litigators make up a far smaller proportion of most English firms. At New York’s Cravath Swaine & Moore, around 50 percent of the firm’s lawyers are in litigation, while at Herbert Smith — arguably, London’s premier brand in litigation — around 35 percent of attorneys are litigators.”
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