11 June 2007
Not to be outdone by the flurry of results announcements coming out of the legal community, DLA Piper, which reports on a calendar-year basis, has come up with unaudited figures for the UK financial year.
Hull firm AMJ Solicitors has appointed David Hall as a senior solicitor in its shipping and -transport team. He joins from Newcastle-based Rayfield Mills, where he was principal assistant to founding partner Stephen Mills.
Common law set 1 Pump Court has kick-started a campaign by UK lawyers to save Zimbabwe's rule of law after one of the country's barristers was abducted and beaten by the country's police.
Allen & Overy (A&O) has opened its second Middle Eastern office in a month, raiding Simmons & Simmons to launch an office in Abu Dhabi.
Clifford Chance and Allen & Overy (A&O) have both landed roles on the first Kuwaiti convertible sukuk.
Allen & Overy (A&O) has helped secure the largest-ever Middle Eastern private equity transaction.
The Milan office of Allen & Overy (A&O) has lost yet another associate, this time to Bonelli Erede Pappalardo.
The UK's request to Russia to extradite Andrei Lugovoi, who is implicated in the poisoning of former Russian agent Alexander Litvinenko, was flatly refused by Moscow. Article 63 of the Russian Constitution, cited by Russian officials, prohibits extraditions in political cases.
Israel has been criticised by human rights group Amnesty International for its "blatant violation of international law" in the West Bank.
Under the leadership of Gary Senior Baker & McKenzie's London office has pulled itself out of a post-9/11 slump, but the managing partner's aspirations don't stop there
Baker & McKenzie and Linklaters are confident that the London IPO of Ukrainian iron ore company Ferrexpo will go ahead despite legal wranglings in Moscow.
Baker & McKenzie has made up five partners in its London office, bringing the total number in London to 84. They will assume their roles on 1 July.
It’s not just pro-Muslim sentiment that is fuelling the emerging Islamic finance market, Government legislation is lending a helping hand too. By Farmida Bi
The financial markets have been buoyant for four years and although many commentators predict a downturn, it does not seem to be approaching any time soon.
The Bar Standards Board (BSB) is set to overhaul the code of conduct for barristers for the first time, setting aside three years for the project.
It's the usual story: you launch a chambers, you want to tell people about it, you have a great marketing idea: and in the case of Surrey-based Casalier Chambers, which specialises in sports and equine law, the idea was a horsebox. A luxury horsebox, in fact, presumably complete with luxury straw.
Boyes Turner has posted a turnover increase of just 4 per cent for 2006-07.
US firm Bryan Cave is set to open its first office in Germany, and is eyeing further launches in Brussels, Madrid and Paris as part of an ambitious European expansion plan.
Clifford Chance has won a pan-European mandate to advise the underwriters of the first-ever climate awareness bond, which is expected to be worth up to e1bn (£680m).
Clifford Chance and Freshfields Bruckhaus Deringer are preparing for court as the only UK firms to have bagged lead roles advising banks in the Parmalat saga.
Documentation for payment in kind (PIK) loans is undergoing a make over at the moment following pressure from market participants.
Charles Russell has scored a role advising Canada's Yamana Gold on its graduation from AIM to the London Stock Exchange's main market.
Thames Valley's Clarkslegal saw turnover fall by 3.5 per cent to around £9.9m last year.
Four years ago, when to most people the name Clementi still meant the man from the Pru, Russell Jones & Walker (RJW) snapped up the brand name, call centre technology, website and telephone numbers of the claims manager then dubbed ‘Shames Direct’.It’s a very different legal market now from the one in which RJW struck its deal for Claims Direct. With ...
Clifford Chance eyes £40m windfall with Canary Wharf rental scheme" /Clifford Chance is seeking to boost its coffers by around £40m in the next 15 years by renting out additional floor space in its Canary Wharf premises.
To grow and develop as effective practitioners, associates must know what is expected of them. Yet in most firms they are left to figure out for themselves the key to professional advancement. Salaries are generally linked to PQE, so are determined by seniority, with limited reward for skills development until associates are considered for partnership. ...
Davies Arnold Cooper (DAC) has seen average profit per equity partner (PEP) nudge up by just 4 per cent this year, an indication that the downturn in legal action continues to hit the litigation-focused firm.
Having no specialist team means Argent is relying on its legal ties as it redevelops London's King's Cross area. By Jon Parker
Lincoln's Inn firm Dawsons Solicitors has posted record figures for the past financial year, with turnover breaking through the £10m barrier for the first time.
DLA Piper is set to add to its empire of offices with a launch in Munich, in a bid to crack the German IP/IT market.
DLA Piper has boosted its Hamburg office with the appointment of a high-profile professor from the city's Bucerius Law School.
Denton Wilde Sapte (DWS) is the latest firm to announce salary increases, with a 17 per cent rise for newly qualified (NQ) lawyers.
Denton Wilde Sapte (DWS) has landed a lead role advising on the launch of the Dubai Mercantile Exchange (DME), the first energy and futures exchange in the Middle East.
Competition increased in East Anglia recently when two major firms opened offices there.
Eversheds has outsourced its IT systems to Computacenter Services in a £27m deal.
Eversheds has won in the Court of Appeal for Experience Hendrix, the estate of Jimi Hendrix. Purple Haze Records reproduced one of Hendrix's Swedish shows without permission, but the court held that performers who died before the Copyright Act 1989 came into force are entitled to have their rights asserted, even if the show was in a country not in the EU at the time of the performance. Eversheds ...
Tulkinghorn was feeling unusually charitable last week.
Fladgate Fielder has scored a win for Crystal Palace FC against former manager Iain Dowie.
The German offices of Freshfields Bruckhaus Deringer and Cleary Gottlieb Steen & Hamilton have scooped lead roles on the federal state of Berlin's €4.6bn (£3.1bn) sale of an 81 per cent stake in Landesbank to Deutsche Sparkassen-und Giroverband öK.
Freshfields Bruckhaus Derringer has underscored its position advising on borrower financing in the private equity market by landing the lead role on Permira's acquisition of Valentino.
The day after Tim Henman crashed out in the first round at Queen’s, his family firm was busy having a clear out of its own.
The Financial Services Authority (FSA) is conducting an investigation into insider dealing that will force lawyers to abide by the Market Abuse Directive 2005.The City watchdog is scrutinising four major corporate deals after it estimated that insider dealing takes place on between a quarter and a third of all public transactions. As part of the project, which is due to report its findings next month, the FSA picked three deals in which it suspected that insider ...
Lovells has boosted its dispute resolution team in Germany with the hire of a team from German independent Aderhold von Dalwigk Knüppel.
Gomez-Acebo & Pombo has split from its Portuguese ally Vieira de Almeida & Associados, following a review of its international strategy.
The dreaded phrase 'vulture funds' last week reared its ugly head last week after the G8 summit brought the world's attention back to the plight of African countries. Apparently, the best legal minds in the UK are being brought together to ensure that the situation in Zambia never happens again.
Hammonds is embarking on a major overhaul of its regional business, kicking off with a £9m root-and-branch upgrade of its 26-partner Birmingham office.
After several months of threats, Hammonds finally filed its claim against a bunch of former partners who have failed to repay a share of the firm's profit previously distributed to them. See story.
Hammonds has followed through on its threat to sue a group of 14 partners who it alleges owe the firm money.
Scottish mid-sized firm Harper Macleod has introduced a shake-up of its billing process aimed at improving its working capital position.
Oxford-based Henmans has turned over eight tonnes of client files into household tissues, after a clearout and recycling drive at its old offices in the University town.
Herbert Smith senior partner David Gold has outlined his plan to drive the firm's European alliance forward, but has ruled out the need for a merger.
Herbert Smith has hired a senior lawyer from Lehman Brothers as a non-contentious regulatory specialist for the firm’s growing financial services regulatory (FSR) practice.
Freshfields Bruckhaus Deringer has lost its second European partner to a US firm in a week after Paris IP head Xavier Buffet Delmas defected to Hogan & Hartson.
Holman Fenwick & Willan's net profit has grown by more than 20 per cent for the second year in a row, but growth in average profit per equity partner (PEP) has slowed.
Howrey has launched a London antitrust practice after raiding Lovells for competition litigation partner Tom McQuail.
The date has been set for what could be a landmark legal action for Irwin Mitchell in relation to decisions made by coroners.
The market's been buzzing all day about the latest massive salary hike by a US firm. As we reveal today, Weil Gotshal & Manges has raised its newly qualified salary to £90,000 - within shouting reach of London's other big payers Latham & Watkins (£96,000) and Cleary Gottlieb Steen & Hamilton (£92,000).
Former Littleton Chambers head Michel Kallipetis QC and chief executive David Douglas have reunited to launch a mediation outfit known as Independent Mediators.
Kirkland & Ellis is advising longstanding private equity client Change Capital Partners on the sale of portfolio company Hillarys Blinds to Bellotto Acquisition. London-based corporate partner Matthew Hurlock is leading the deal. Kirkland was lead counsel for Change Capital, a privately owned company that focuses on mid-market deals throughout Western Europe, when it bought Hillarys from ...
Kirklees Metropolitan Council in West Yorkshire has created a panel for barristers, becoming one of the first local authorities in England and Wales to do so.
Dozens of law firms showed off their green credentials last week by embracing the normally low-profile UN World Environment Day (5 June).
LeBoeuf Lamb Greene & MacRae has merged with the entertainment boutique of one of pop star Michael Jackson's lawyers and plans to expand the entertainment practice globally.
LeBoeuf Lamb Greene & MacRae has raided Chadbourne & Parke, poaching a London-based project finance team led by Nabil Khodadad.
BLP, Herbies and Linklaters have dominated thus far - so what next? asks Jon Parker
Linde chief legal officer Nick Deeming is to step down this September, stating that he is "looking for a new challenge".
The British Casino Association (BCA) challenge against the Government's super-casino regulations has failed in court.
Lovells is seeking to beef up its Dubai presence a month after opening in the Emirate as well as offering trainees a seat in the office from September. From its launch on 1 May the office has had five partners, headed by banking and project finance specialist Shibeer Ahmed, and eight associates. A further seven associates, who have already been recruited, are set to arrive periodically between now and the start of October. Ahmed is also conducting further interviews.
The Lawyer's thanks go out once again to Lovells for its annual press bash, thrown last Wednesday (6 June).
Lovells has cemented its relationship with Russian media company Prof-Media, advising on its purchase of Wayfarer Media, the holding company of MTV Russia and VH1 Russia.
Australian firm Allens Arthur Robinson (AAR) has swooped for Lovells' Tokyo managing partner Tim Lester.
Offshore firm Maples and Calder has promoted finance and capital markets associate Stacey Overholt to the partnership.
South West firm Michelmores continued its impressive turnover growth in 2006, posting a 19.5 per cent increase to £13.5m, from £11.3m in 2005. The 32-partner Exeter-based firm, which also has an office in London’s Piccadilly, exceeded that growth with its average profit per equity partner figure, which increased by 37 per cent to £248,800. Thirteen of Michelmores’ partners are full equity, ...
Wales-based Morgan Cole has recorded a disappointing turnover for the second year running, while achieving a second year of increased average profit per equity partner (PEP).
Lorna Meyer QC has returned to No 5 Chambers' Birmingham office to head the family law group, having first been a member of the group almost 20 years ago.
Norton Rose has scooped the advisory role for a multimillion-pound tie-up between the UK's National Grid and Dutch electricity supplier TenneT.
Olswang has acted for longstanding client New Star Asset Management on its return of £364m to shareholders and admission to the London Stock Exchange’s official list.
After years of telling us they wanted to be seen more as corporations than partnerships, the latest trend for law firms seems set to reverse this. Well, that is if Herbert Smith senior partner David Gold can be seen as a trendsetter.
Another high-profile listed company was taken private when AWG was taken over by a consortium of infrastructure investors. Freshfields Bruckhaus Deringer’s Simon Weller gives a blow-by-blow account of the deal
East Anglia has become a development hot spot. Law firms need to create specialist teams to keep up with the changes, says Laura Holdaway
Linklaters, Ashurst, Stephenson Harwood and Hempsons have advised on a deal sealing the construction of Biota, the new public aquarium to be built at Silvertown Quays in London's Docklands. The £90m scheme is being undertaken ...
Russell Jones & Walker (RJW) is heralding the relaunch of its Claims Direct business by spending £5m on an advertising campaign that will include daytime television commercials.
Newcastle-based Robert Muckle has raided its local rivals for two new partners, hiring Dickinson Dees senior lawyer Alan Grisedale and Ward Hadaway partner Matt Collen.
Banks might be reluctant to get involved with covenant-lite deals, but strong demand from private equity funds is set to change this. By Chris Howard and Christopher Davis
Shepherd & Wedderburn has posted a 13 per cent increase in fee income for the second year running.
Turnover at Simmons & Simmons has increased by 10 per cent, from £227m to £250.6m, during the last financial year.
Slaughter and May and Weil Gotshal & Manges have secured key roles advising on Terra Firma's sale of the Thresher Group to a consortium led by private equity and pensions investor Edmund Truell.
Spanish firm Ramón & Cajal Abogados has boosted its corporate, litigation and labour law practices to help service its new alliance with Mayer Brown Rowe & Maw (MBRM).
What impression should a law firm's reception give its clients? Competitive? Creative? Productive? Team player? Upwardly mobile? All of the above, Tulkinghorn reckons. And what better represents those qualities than a big group of sperm?And so it is that Cornelius Medvei, Eversheds art-loving head of London, Cambridge and Norwich, has installed a picture of the little swimmers in the reception of ...
Stephenson Harwood PEP hits record levels" /Stephenson Harwood has reported record figures for the second year running with a 30 per cent increase in average profit per equity partner (PEP).Last year PEP increased by 45 per cent up to £407,000 from £208,000 the year before. This year ...
Stephenson Harwood has launched a partner training scheme in a bid to strengthen relationships between partners, associates and trainees
South West firm Stones Solicitors' year of reorganisation, during which it closed its under-performing Sidmouth office, saw its turnover inch up by £100,000 to £7.9m.
Taylor Wessing has revealed its finalised global figures for 2006-07, posting an increase in total revenue of 13 per cent to £161.1m.
Taylor Wessing is the latest firm to release financials for the 2006-07 period, posting an increase in total revenue of 13 per cent. See story.
The new management team at Mayer Brown Rowe & Maw (MBRM), which was officially crowned last week, has already vowed to push forward the revolution in the firm's partnership culture.
What was your first-ever job?Paper boy.
McDermott Will & Emery has lost its third London partner within a month after IP litigator Duncan Curley quit the firm to set up his own consultancy.
Maclays leaves the tartan behindFor years, Maclay Murray & Spens has been one of the hardest Scottish firms to penetrate financially (apart from the law unto itself that is Dickson Minto, that is).
Anyone who knows K&L Gates partner Warren Phelops will testify that the corporate lawyer has long been known as one of the fittest of his ilk in the City. Many are the miles that Phelops has clocked up on his trusty ergo.
You might think that when you join a law firm you’re the smallest cog in a very large machine. But trainees have a bit more of a voice than you might think.
The Treasury Solicitor has told governmental departments that they must use the new Catalist super-panel of law firms, which OGCbuying.solutions has extended to 48 firms with an expected legal spend of £48m over the course of its four-year lifespan.
From housing association champion to Middle East king: Trowers & Hamlins may appear to have an odd form, but it has proved its unusual mix of practices can work, and work well
Scottish private client leader Turcan Connell has written to the Law Society of Scotland demanding it provide alternative business structures for law firms to meet client needs.
More companies are releasing value from their real estate assets thanks to the Opco/Propco model. By Lucy Wolley Dod and Sean Crosky
Bristol based law firm Veale Wasbrough has grown its partnership by promoting three of its lawyers. Commercial litigation specialist Michelle Rose becomes partner and head of estates and tax planning.
North West firm Walker Morris has reported an increase in average profit per equity partner (PEP) of 11 per cent and a turnover increase of a little more than 5 per cent for the 2006-07 financial year.
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Weil Gotshal & Manges’ London associates now earn more than their counterparts in New York after a 20 per cent pay hike in London.
This week The Lawyer is launching Top Of The Peps, a rolling blog on www.thelawyer.com on this year's financial results from the UK's top 200 law firms.The commentary, by editor Catrin Griffiths and associate editor Matt Byrne, will include regularly updated charts on revenues and average profit per equity partner.It will provide the definitive inside track on the performance of the UK's biggest law firms - and the stories behind the figures.
Blackstone Chambers has found itself at the centre of the BAE Systems controversy with member Lord Woolf set to lead the BAE independent ethics committee while some of Blackstone’s leading barristers lead the legal fight against the defence company.
UK firms could be winning the battle for talent, as exclusive research by The Lawyer reveals that only 7 per cent of associates found US firms to be the most attractive employers.