12 May 2008
Addleshaw Goddard has advised Bayerische Landesbank on a £400m loan to Hammerson that used Allen & Overy's (A&O) office building as security on the facility.
Move of the week
The merger between criminal set 15 New Bridge Street (15NBS) and commercial fraud specialist Lombard Chambers has dramatically collapsed.
Common law set 2 Pump Court has appointed Richard Christie QC as head of chambers after Philip Singer QC stood down.
Bird & Bird has launched a Central and Eastern Europe (CEE) desk with the hire of rated Czech Republic technology and media partner Stephen Kines, paving the way for an office opening in Prague.
Allen & Overy has suffered a setback in Italy, losing former head of its Italian corporate group, Paolo Cerina, to Australian asset managers Babcock & Brown.
Norton Rose has landed a deal for its first Mongolian-based client, advising oil company Petro Matad on its AIM listing.
Allen & Overy has settled a bitter discrimination suit with a former employee in its New York office.
Ashurst, Hammonds and Linklaters have lined up to fight the £1bn takeover battle for kitchen equipment maker Enodis.
Nabarro's French best friend, August & Debouzy, has hired the lawyer representing former Société Général rogue trader Jérôme Kerviel as a partner.
Beachcroft has axed its London-based international practice group (IPG) leaving one partner and five associates facing redundancy.
Bevan Brittan set to make 40 redundancies" /Bevan Brittan is set to make up to 40 redundancies as it kickstarts a three-year strategy plan to bolster profitability.
Berwin Leighton Paisner (BLP) has raised its associate salaries by a maximum of six per cent.
It was two for the price of one last night (Wednesday 15 May) as Ashurst New York heads past and present descended on the Meatpacking District's version of Soho House.
Clifford Chance has appointed its first full-time pro bono lawyer.
City litigation teams are battling to win financial institution clients as the credit crunch leads to an upturn in disputes.
As the row over the Serious Fraud Office's axed BAE Systems probe rumbles on, a long-overdue round of anti-corruption and bribery investigations could be in the works.
Cleary Gottlieb Steen & Hamilton has advised on Citigroup's third equity offering so far this year.
Former chief executive of 7 Bedford Row Stephen Allen haslaunched the first broker for the legal profession as a direct consequence of the Legal Services Act.
Covington & Burling has hired Herbert Smith's former Paris corporate head Mike Kingston to head its European corporate practice.
Tulkinghorn understands that law firms have a tough job on their hands - making lawyers do work when they would rather be sipping Pimm's.
Denton Wilde Sapte is the latest firm to promote its first round of senior associates to a partnership alternative, with real estate senior associates Jane Miles and Nick Darby taking up the new role of managing associate, as first reported on TheLawyer.com (29 April).
Dewey & LeBoeuf client and Olympic hopeful, sprinter Oscar Pistorius has won his appeal against a decision banning him from competing with able-bodied athletes.
Minneapolis-based US firm Dorsey & Whitney is planning to launch an office in Sydney as its base for the Asian market.
Northwest firm DWF has reported a 10.6 per cent rise in turnover, hitting £55.3m this year for 2007-08 after £50m the year before.
Fresh from its merger with Kendall Freeman, US firm Edwards Angell Palmer & Dodge has launched a European patent prosecution practice in London.
Eversheds is advising the Romanian National Company for Highways and National Roads (CNADNR) on one of the Eastern European country’s first toll roads - a deal struck on the back of contacts forged by its Romanian best friend firm.
Eversheds turnover and PEP up 10 per cent" /Eversheds has seen both its revenues and average profit per partner (PEP) increase by 10 per cent.
Birmingham-based set St Philips has snared a Royal Navy rear admiral to take up the post of chief executive following the departure last year of Jonathan Fox.
The financial services sector has taken quite a knock in the aftermath of Northern Rock's nationalisation, with the industry's regulator coming in for intense scrutiny over its handling of the situation.
Davis Blank Furniss was founded in Glossop in 1877 and remained a high street firm there for the next 60 years until it merged with a sole practitioner in Manchester.
The City Solicitors' Educational Trust (CSET) summer school scheme has received 923 applications from 94 UK universities - four times the anticipated number of applications.
Fox Williams has headhunted Charles Russell partner Joanne Owers to ramp up its employment capabilities.
Freshfields Bruckhaus Deringer is reviewing the way client relationships are handled to ensure a uniform service is provided globally.
Fulbright & Jaworski has secured third-party litigation funding for production company Excelsior in a royalties battle with ITV.
The great and the good of the bar are preparing to go head-to-head in a courtroom showdown resulting from the nationalisation of Northern Rock.
If you weren't a lawyer, what would you have been? Outside half for Wales - in my dreams.
If the global subprime crisis seems almost to have passed Nordic banks by, news of a worldwide fall in M&A activity is raising fears that Stockholm will eventually reap its share of the pain being felt in New York and London.
HBJ Gatelely Wareing is poised to merge with niche shipping and transport firm Holmes Hardingham in a bid to expand its contentious shipping and road transport offering.
The legal world takes it for granted that FTSE100 companies need a general counsel to keep everything in check and advise the board.
Herbert Smith and Freshfields Bruckhaus & Deringer have scooped lead roles advising on mortgage bank Bradford & Bingley’s £300m rights issue.
Herbert Smith has recovered from its poor 2006-07 financial performance with its average profit per equity partner (PEP) figure breaking the £1m barrier for the first time.
Herbert Smith senior partner David Gold is preparing to amend the firm's constitution following the appointment of David Willis as its first managing partner (TheLawyer.com, 14 April).
It may have been a pipe dream for Herbert Smith a couple of years ago, but having been in Dubai for just over a year, the firm is now waiting to well and truly make its mark in the Middle East.
Careful contractual drafting is essential for any Finnish companies interested in financing Russian corporate and real estate acquisitions.
While some corporate lawyers have reportedly been twiddling their thumbs since the credit crunch took hold, Macfarlanes started 2008 with a couple of stellar deals.
Judges are to receive new robes designed by a top-name high-street fashion designer.
K&L Gates merges with Taiwan firm" /US firm K&L Gates has announced a merger with Taiwanese firm J&J Attorneys-at-law, strengthening its Asian capabilities.
Kent County Council's 'in-house private practice' legal team, KCC Legal, accounted for more than £1m of external income in 2007-08, the highest figure it has ever recorded.
Kiss from a Rose16-May-2008Champagne corks were popped among partners at Norton Rose this week, as the firm announced a stunning 27 per cent rise in turnover during the last financial year.
The subprime debacle and the credit squeeze have combined with existing pensions pressures to make life even harder for companies seeking to manage their costs and risks.
Freshfields and Linklaters have won places on the £4bn listing of Mexican silver giant Fresnillo on the London Stock Exchange in the second largest IPO of the year.
Linklaters capital markets chief Nick Eastwell is set to become head of the firm's new Emerging Europe, Middle East and North Africa (EEMENA) group.
Uncertainty shrouds litigation costs, which is putting obstacles in the way of access to justice, a panel of experts warned at The Lawyer's antitrust litigation conference ;last ;week (7 May).
Lovells has posted a robust financial performance during the 2007-08 period with revenues rising by 13 per cent and average profit per equity partner (PEP) up by 10.5 per cent.
Macfarlanes has appointed a new chairman for its international practice group (IPG), replacing Charles Martin who became senior partner on 1 May.
The four magic circle firms have announced annual salary increases for trainees and associates.
US firm McDermott Will & Emery has continued its London expansion by recruiting two new finance partners from rivals Dewey & LeBoeuf and White & Case.
A rebound in the insurance and litigation markets helped Davies Arnold Cooper (DAC), Nabarro and Weightmans cushion against a second-half market downturn.
Thomson Reuters has unveiled a restructured legal team following the firms' merger and installed a new general counsel for Europe.
The National Farmers’ Union (NFU) has launched a new Legal Assistance Scheme panel to advise its members on contentious issues relating to their agricultural businesses.
Norton Rose has frozen salaries for all trainee solicitors and newly-qualified lawyers.
Norton Rose turnover rockets 27 per cent" /Norton Rose has trumped its City rivals by announcing a 27 per cent increase in turnover.
One of the Competition Appeal Tribunal's first chairs, Marion Simmons QC, has died after losing her battle against cancer.
Olswang has frozen salaries for its newly qualified solicitors (NQs), but upped those for its more senior assistants.
After decades of being dominated by a handful of major players, shifts in the legal markets in Sweden and Finland are starting to create room for new entrants.
Orrick Herrington & Suttcliffe has bolstered its litigation practice with the hire of a partner from the New York office of Heller Ehrman.
Pannone has posted growth of almost 19 per cent, hitting a total turnover of £50.8m, from last year's level of £42.8m.
Peter Kennerley is leaving Scottish & Newcastle on a high after steering the brewer through a £7.8bn takeover.
Pinsent Masons has broken through the £200m turnover barrier for the first time, boosting income by 11 per cent to hit £213m.
Nabarro partner Ian Flowers has moved over to Reading firm Pitmans to establish a London-based pensions team.
Osborne Clarke has promoted four lawyers to the partnership - a significant reduction on last year's total of eight.
US litigation powerhouse Quinn Emanuel has hired a lawyer from elite LA litigation firm Munger Tolles & Olson.
SJ Berwin has boosted its Paris office with the hire of real estate partner Vincent Lassalle from the French arm of Reed Smith.
The Northern Rock affair has called the UK's principles-based approach to financial services regulation into question, while the same could be said for the FSA's position as sole regulator.
The founder of IP consultancy Rouse & Co International has been appointed chief executive at common law set Seven Bedford Row (7BR).
Tulkinghorn is kicking himself for not having gone into the bicycle business a couple of years ago. Nowadays it seems everyone is riding the things.
Seconds out! This week we have Walter Reed (Edwards Angell Palmer & Dodge) versus Ike Broflovski (South Park).
Birmingham's Shakespeare Putsman has smashed its average profit per equity partner (PEP) target of £200,000 in its first year as a merged entity.
Shearman, oh Shearman. Whatever happened to this venerable Wall Street giant? If you buy the line of the firm's senior partner of three years Rohan Weerasinghe, the answer is "nothing".
Shearman senior partner Rohan Weerasinghe insists that his firm's elite status is not under threat - despite losing partners, offices and clients
Freshfields corporate guru Barry O'Brien is back with a bang following his run-in with the Solicitors Disciplinary Tribunal - much to the delight of his colleagues
SJ Berwin has released it year-end financial results, revealing turnover up by 14 per cent from £189m to £215m.
Skadden appoints new top dog" /Skadden Arps Slate Meagher & Flom announced today (Friday 16 May) that M&A partner Eric Friedman is to succeed Bob Sheehan as the firm's executive partner.
The Scandinavian market shows no sign of slowing despite concerns over global economic prospects.
Squire Sanders & Dempsey has relaunched its office in Ukraine after taking an eight-lawyer team from its former local ally The Silecky Firm.
Morrison & Foerster (MoFo) has sewn up a raft of UK life sciences deals, winning a place on six transactions in the past month.
Each week we watch as Sir Alan Sugar yells 'YOU'RE FIRED!' at one of The Apprentice wannabes.
Law Firm of the Year
Tyco Europe, Middle East and Asia general counsel Trevor Faure has made quite an impact since joining the company three years ago.
South east firm Thomas Eggar has taken over rival Blake Lapthorn Tarlo Lyons' £3m Southampton office space, the firm's second new location in six months.
The appeal of the East seems to be contagious. Last week two US firms, Bryan Cave and Squire Sanders & Dempsey, outlined strategic moves into Russia and Ukraine.
The Lawyer's Web Week is a weekly commentary on legal activity on the web. This includes an overview of the best of the week's blogs. If you want to direct us to useful links, email webweek@thelawyer. com.
White & Case has announced its latest round of salary increases in London, hiking associate salaries by an average of 2.1 per cent.
The increasingly interconnected world in which we live has brought many benefits to business and society. Unfortunately it has also provided opportunities for criminals to exploit and abuse children over the internet.
Despite never having attended a Mipim event, Tulkinghorn feels as if he has lived through hundreds of the things after hearing the war stories of frazzled lawyers and journalists.