12 July 2004
Allen & Overy (A&O) has unveiled a firmwide bonus of 9.3 per cent of salary, representing more than one month’s pay for every member of staff.
Allen & Overy (A&O) has billed in excess of £10m for last year’s rescue of Drax Holdings, reaping nearly 80 per cent of the total over a six-month period.
Constitutional Affairs Minister Lord Filkin has today extended the remit of the committee that advises the government on international court cases.
The Bank of New York has drafted in the former head of banking and finance from Belgium-based Tiberghien as its European counsel.
Barclays has replaced its head of legal for Barclaycard with the general counsel of its Africa group.
By day he’s a barrister at 10 King’s Bench Walk. By night, Orlando Gibbons sheds his lawyer’s gowns and emerges as “the most stunning jazz singer” (at least according to a mate he does).
BellSouth Corporation’s general counsel has quit the Fortune 100 telecoms group, to be immediately replaced by two vice presidents in the legal department.
Berwin Leighton Paisner (BLP) has emerged as the frontrunner to represent the Royal Bank of Scotland (RBS) on a £242m real estate purchase in the heart of the City.
Energy giant BP has extended the review of its UK law firms to cover the company’s overseas legal advisers.
Bristol’s Burges Salmon has reported solid figures for the 2003-04 financial year, with profits up 10 per cent. Turnover was up 15.6 per cent to £42.2m from £36.5m, and average profit per equity partner rose by just over 11 per cent to £335,000. First revealed on www.thelawyer.com 7 July
The Chartered Institute of Arbitrators, in association with Mediation and Training Alternatives, has announced the launch of a new mediator training and accreditation programme.The scheme is intended for those aiming to become commercial mediators and those who will represent clients in mediation situations. It will focus on the skills required to successfully manage the complete mediation process.
Matthew Arnold Baldwin announced a string of promotions last week, including Karen Jones, who became a partner in the firm’s IT and e-commerce division. Five lawyers have also been made up to associate.
Clifford Chance has landed its second European buyout for Kohlberg Kravis Roberts (KKR) within three months, after the US private equity giant paid $1.7bn (£915.4m) for German automotive business Auto-Teile-Unger (ATU) Holding.
Orrick Herrington & Sutcliffe has topped its mass hire of Clifford Chance West Coast partners by taking on the bulk of the firm’s associates and staff.
Leading chancery silk John McDonnell QC is launching a new set of chambers.
PZ Cussons has ditched Cobbetts in favour of Addleshaw Goddard.
Cobbetts has announced its third merger in just eight months. The firm is set to join up with Leeds-based planning boutique Wilbraham & Co on 1 September.
Clifford Chance (David Lewis) acted for Luxembourg steel producer Arcelor on acquiring a 33.75 per cent stake in Companhia Siderúrgica de Tubarão worth $579m (£311.8m), increasing Arcelor’s overall holding in the company to 62 per cent. Vieira Rezende Barbosa e Guerreiros acted ...
On a serious note, any readers with an old mobile phone or printer cartridge tucked away in a drawer at home or at work can now put that waste to good use.
Goldman Sachs managing director David Walton will deliver the keynote address at this year’s European Legal Summit. The Lawyer’s annual event for in-house lawyers will be held in Rome on 11-13 November. The 2003 summit was attended by more than 180 delegates, extended to around 225 this year. Attendance at this event is worth 10 CPD points for the 2004-05 year. For more information click here.
One Essex Court has taken on former Court of Appeal judge Sir Martin Nourse as an arbitrator. As a chancery practitioner, Nourse has vast experience in every kind of civil appeal, particularly with cases from the Commercial Court. In 2000 he was appointed vice-president of the civil division of the Court of Appeal and was made acting Master of the Rolls in 2001, the same year he became deputy chairman of the Appeal Committee of the Takeover Panel.
Finers Stephens Innocent has recruited Paul Dunbar from Rooks Rider to head its property dispute resolution group. Dunbar advises on commercial landlord and tenant disputes, problems relating to freehold land and disputes relating to property transactions.
Gianni Origoni Grippo & Partners has been touting itself to Herbert Smith following the recent demise of the top Italian firm’s alliance with Linklaters.
Herbert Smith has taken a massive cut in fees to advise on an epic three-year data privacy programme, which it considers a model for international data compliance projects.
The group of City law firms involved in the ongoing takeover battle between Marks & Spencer (M&S) and Philip Green has gained another member, after Herbert Smith acted for fashion guru George Davies on the £125m sale of Per Una to the retail company.
The International Bar Association (IBA) this week published its Guidelines on Conflicts of Interest in International Arbitration.
Northumbria University student Martin Wilson has become the first student to win a month working in the pro bono office of Australia’s Monash University on an all expenses paid trip, courtesy of Irwin Mitchell.
Members of the legal profession gathered in Court Seven of the Old Bailey on Friday 9 July to pay their respects to the Recorder of London, Judge Michael Hyam, who died last week. The Old Bailey’s most senior judge died of a heart attack after collapsing at the Institute of Barrister’s Clerks annual dinner on Thursday night. Judge Hyam, 66, was greatly respected, presiding over numerous major trials, including that of the nailbomber David Copeland and the serial rapist David Mulcahy. ...
From pharma to logistics to the Tube, Innovision’s microchips are leading the way towards a more coherent future. Alex Wade gives the lowdown
The legal arm of PricewaterhouseCoopers, Landwell, which is the UK’s sole surviving accountancy-tied law firm, has made up a salaried partner to the equity in only its second salaried partner promotion since its launch in 1996.
“We do one thing and we do it exceptionally well,” says Laura Devine. “We have specialist expertise in all aspects of immigration.” Devine set up City immigration practice Laura Devine Solicitors (LDS) a year ago after splitting from Eversheds, where she was a consultant. “We don’t concentrate ...
The Legal Services Ombudsman dismissed claims that the Law Society has improved its performance on complaints handling.
The Law Society Council voted this morning by an overwhelming majority to endorse the new conflicts and confidentiality proposals.
The Law Society Council is expected to finally approve new conflicts and confidentiality rules tomorrow (Wednesday 14 July), after nearly four years of consultation.
Who’d be a magic circle lawyer? Your profits are tumbling, your market share is dwindling and you can’t even fill out a questionnaire.
The Olympics are coming and Tulkinghorn for one is jolly excited. However, the bosses at Collyer-Bristow and Richards Butler have added a bit of extra spice to their Olympic summer: both firms are sponsoring leading UK sailors and have upped the ante by betting their reputations on which sailor performs better.
Linklaters is going ahead with the key hires of two leading Japanese partners from local corporate finance firm Mitsui Yasuda Wani & Maeda, giving the magic circle firm local capability for the first time.
Linklaters has emerged as a multiple adviser on Marks & Spencer’s (M&S) bid battle with Philip Green, as the retail entrepreneur last week returned his gaze to the company’s pension fund trust.
Extensive restructuring of Charles Russell’s commercial property group has resulted in the surprise departure of London head Chris Edwards.
Lovells managing partner Lesley MacDonagh is to hand over the reins a year earlier than planned.
Recovering telecoms giant MCI has finally appointed a new general counsel for Europe, the Middle East and Africa (EMEA), 10 months after former chief Stuart Blythe left for Viatel.
- Magic circle records average profit drop of 10 per cent; - DLA overtakes Slaughters and Herbert Smith to eighth place; - Shoosmiths, BLP, Osborne Clarke post biggest profit rises
US firm Milbank Tweed Hadley & McCloy has raided Allen & Overy to land star partner Laurence Jacobs in a major assault on the IT sector.
Mills & Reeve is set to almost double its office space in Birmingham, signing a lease on 20,000 sq ft of space in the city centre.
Law firms are ignoring the changes introduced last year to how they account for revenue because of the unprecedented level of confusion about the new rules.
New solicitors will now be expected to stump up an additional £40 for their practising certificates after the Law Society readjusted their budget for the current financial year.
City firm Nicholson Graham & Jones (NGJ) has entered the final stages of merger discussions with US national firm Kirkpatrick & Lockhart just six months after negotiations with Pinsents broke down.
Norton Rose has emerged as the latest law firm to benefit from the City’s battle du jour, acting for HSBC on today’s (12 July) surprise offer for Marks & Spencer’s (M&S) financial services arm.
The Ogier Group is set to become the first Channel Islands firm to expand into New Zealand, taking advantage of the country’s low tax regime.
Following a four-year investigation into UK horseracing, the British Horseracing Board (BHB) and the Office of Fair Trading (OFT) have provisionally settled their differences. This month the OFT proposed to close its investigation after the BHB offered certain legally binding commitments. This coincided with the BHB publication of The Modernisation of British Racing, covering key horseracing ...
Clintons scored a high-profile success last week after the Court of Appeal ruled in favour of its client Karen Parlour in her divorce claim against her ex-husband Ray Parlour. The court ruled that the Arsenal footballer must pay Karen Parlour a third of his future income in a landmark ruling that will change the face of high-earners’ divorces. Had the marriage lasted longer than its three years, the award would have been 50 per cent. Specialist matrimonial firm Alexiou Fisher Philipps ...
On 1 July, Essex Court head of chambers Gordon Pollock QC, 79 days after first taking to his feet to present the case against the Bank of England for BCCI’s liquidators, concluded the longest opening statement in English legal history.
Niche insurance and litigation firm Kendall Freeman has reported a 44.3 per cent rise in profits in its first full year since the demise of DJ Freeman.
Barristers can now receive instructions direct from members of the public following a change in the Bar Council’s code of conduct. The Department of Constitutional Affairs last week granted approval for the council to remove the blanket ban on direct public access. The new scheme does not apply to criminal, family and immigration barristers, who must still receive instructions from solicitors. First revealed on www.thelawyer.com 6 July
Coudert Brothers’ London office is lucky to be headed by a Hollywood star. And not any old silver screen actor, but that legend of comedic timing Adam Sandler (day job name, Dean Poster). Sandler recently quipped that his firm was “particularly pleased that the Court of Appeal recognised the difficulties and risks of doing business in Russia over a decade ago” by finding that it did act negligently on a £5.5m Russian share purchase. Confused? Well, it did actually reduce the firm’s ...
Skadden Arps Slate Meagher & Flom has drafted in one of its most senior New York-based corporate partners to its Australian office in a bid to bolster the Asia Pacific practice.
Statham Gill Davies, the niche music practice that was bought by the professional services group Tenon in October 2001 for £7.1m, has distanced itself from its parent in an attempt to compete more successfully with independent law firms.
This year’s summer placements have arrived. Nick Hood examines the pros and cons
Solicitors at the Law Society AGM this afternoon voted against the Council in favour of a motion proposing a renewed ban on referral fees.
Swiss cankerFormer US firm Baker & McKenzie (B&M) has chosen to restructure itself as a Swiss Verein. Upon hearing this, one of Tulkinghorn’s scribes, who admittedly knew very little about Vereins, Swiss or otherwise, was looking forward to a senior B&M partner explaining all.
Berwin Leighton Paisner (BLP) is being sued by Tesco over its handling of the supermarket group’s plans to build a superstore near Liverpool. Tesco is claiming nearly £1m from BLP for its handling of the acquisition of land from John Deveney in 1999. BLP said that its relationship with Tesco remains strong and the firm continues to advise Tesco on a broad range of activities, including store ...
The lawyers won’t comment, but Helen Power brings you the inside track on the M&S-Green saga
In a dramatic move into the 21st century, the Law Society has decided to introduce online voting for the next round of Law Society Council elections. The society described the shock development as an “innovative approach”, reassuring web-wary solicitors that the voting system “uses encryption and other security measures to protect against hacker attacks”. Now that’s a relief.
For The Lawyer’s first-ever HR survey we asked the top 100 firms and a selection of smaller firms to respond to an in-depth questionnaire. A significant number balked at the request. The reasons varied, from the familiar “we never talk about figures” (despite there being only one question relating to salaries) to the frankly astounding ...
Does the Press Complaints Commission have enough clout to take on the press barons? Jon Robins investigates
This was the year of the mid-size. When Berwin Leighton Paisner (BLP) released its 40 per cent profits hike in May, some thought it was a blip. It wasn’t.
A new feature this week is Tulkinghorn’s sporting corner. With the ever-growing number of City types donning shorts and aiming to ape real athletes (you work at a desk, so deal with it), Tulkinghorn has decided to flag up some of the more unusual – and occasionally worthy – efforts.
In a result likely to have ramifications for a case just inherited by Lovells from Clifford Chance, the US Supreme Court has applied limits to the use of the politically-charged Alien Tort Statute (ATS).The legislation allows foreigners to seek compensation in US courts even if the case has only remote US connections.
Wedlake Bell has moved to larger premises as it reports a 5 per cent increase in turnover for the last financial year.
Weil Gotshal & Manges has joined the growing throng of US firms targeting China by opening a new office in Shanghai.
Westminster law firm and parliamentary agent Winckworth Sherwood is splitting off its healthcare group, as the head of the practice leaves to set up a new outfit.
Ian Austin, managing partner, Halliwells