13 February 2006
Herbert Smith scoops Standard Life briefHerbert Smith has won a competitive beauty parade to secure a major role advising on the demutualisation of Standard Life. Corporate partners James Palmer and Geoffrey Maddock have been instructed by Merrill Lynch and UBS, which are coordinating the demutualisation. Slaughter and May (Glen James and Craig Cleaver) is advising Standard ...
The first-ever district judge job-share appointments have been announced.
Matt Byrne on the month in management: Prospect of law firm floats edges closer; All change as Childs takes the reins at Clifford Chance; Dewey tries to keep remaining London partners on-side as BLP snares duo; A&O projects partners' equity points whittled down as US dollar remains weak
Outer Temple Chambers has hired five senior barristers from dissolving set 199 Strand, bringing recruits in the past two months to 10. The barristers focus on clinical negligence and healthcare and personal injury. The hires bring Outer Temple's numbers to 70, including 17 silks, following the addition of Michael Bowes QC. The set had 32 tenants three years ago. First revealed on www.the lawyer.com 8 February
The two barristers’ chambers practising from 7 New Square have merged to form a new, 19-strong set.
A vibrant economy, a new civil court centre and the coming Clementi reforms mean the legal profession can look forward to a bright future in the North West. By Michael Booth QC
Allen & Overy (A&O) has reaped the spoils of Norton Rose's failure to integrate Dutch construction star Arent van Wassenaer.
Allen & Overy (A&O) telecoms partner Chris Watson has become the latest partner to leave the magic circle firm.
The coup of the month was Herbert Smith bagging the £3.55bn debt mandate on PSA International's bid for P&O. Partners Clive Barnard and Ewen Fergusson are advising Goldman Sachs, Royal Bank of Scotland and UBS after Allen & Overy (A&O), Ashurst, Cliffo
Herbert Smith’s advocacy unit head Murray Rosen QC is facing a Bar Council disciplinary hearing over alleged conflicts of interest.
Legal chief Harding turns the heat on advisers with diversity proble; other FTSE companies to follow
Benelux heavyweight Loyens & Loeff has reported a 4 per cent rise in revenue for last year, from €214m (£147m) to €222m (£152m), with €22m (£15m) generated from outside its core Continental market.
Barlow Lyde & Gilbert (BLG) has appointed partner Kevin Bitmead as head of general insurance following the departure of Graham Dickinson.
Berwin Leighton Paisner (BLP) has taken the first steps to overhaul its assistant career path, appointing a career development officer to focus on newly qualified solicitors.
Cadwalader Wickersham & Taft has scored double-digit growth in turnover and profit for 2005. The New York firm saw its revenue increase 16 per cent to $483m (£277m), while profit per equity partner jumped 21 per cent to just under $2.6m (£1.5m). Average compensation per partner rose 16 per cent to just over $2m (£1.2m). London managing partner Andrew ...
CMS Cameron McKenna is back in the driving seat after a second bid by its client Pendragon for car dealership Reg Vardy was accepted.
M&A lawyers returning to the City after their Christmas holidays hit the ground running. Although January is traditionally a quiet month for the Square Mile, according to Thomson Financial, 209 deals involving any UK element and totalling $33.1bn (£18.96bn) were announced last month. In contrast, December 2005 saw 292 deals worth $43.5bn (£24.91bn) announced, while 260 deals totalling $34.6bn (£19.81bn) were announced in November.
Davies Arnold Cooper (DAC) has appointed its sixth partner for its Madrid office with the hire of former Landwell litigation head Luis Rufilanchas.
Barclays and other FTSE companies may have strong views on the topic, but it could be argued that it is the Government that has started a mini-revolution on increasing diversity in the legal profession.
Two more New York firms have raised their associate salaries, suggesting the recent wave of rises among West Coast firms is being mirrored in the east. Davis Polk & Wardwell and Milbank Tweed Hadley & McCloy increased associate pay on Wednesday (8 February) by $20,000 (£11,000) across the board, with first-years due to receive $145,000 (£82,000). The firms follow
Ineos high-yield bond issue tops €3bn markThe high-yield bond issue from petrochemicals business Ineos has certainly got people talking. The €3.1bn (£2.13bn) issue is the largest European junk bond to date and it demonstrates the attraction that this type of bond issue holds for corporate credits, which were once wary of junk bond status. Proceeds from the ...
Denton Wilde Sapte (DWS) is set to shell out more than £1m this year to a number of former equity partners 11 years after a change in accounting practices created an 'unexpected' profit.
Dewey Ballantine has been rocked, with seven of its IP litigation partners jumping ship to Dechert.
DLA Piper Rudnick Gray Cary is snapping at the heels of the world's largest law firms after revealing a global revenue of $1.5bn (£847.3m) for 2005.
DLA Piper Rudnick Gray Cary has a revealed a profit per equity partner of £569,000 ($1.036m), a rise of 6 per cent for the first year since its merger.
DLA Piper scores Paul Hastings property ace" /Paul Hastings Janofsky & Walker's London real estate practice has been left reeling following the defection of highly rated property partner Jeffrey Bailey to DLA Piper Rudnick Gray Cary.
Tulkinghorn feels a bit sorry for the DLA Piper partner who, in an effort to appear like a normal, well-rounded person, invented a hobby for himself. Namely, motorcycles.However, the idea has backfired, because every time the hapless chap gets a call from a recruiter, he has to field questions about motorcycle leathers.
DLA Piper Rudnick Gray Cary has promoted 59 lawyers to its partnership worldwide in the first promotions since the 2005 merger.
Denton Wilde Sapte (DWS) has scooped the British Horseracing Board (BHB) as a new client after the organisation dumped former adviser Addleshaw Goddard.
ITALIAN clients wanting to secure cheap foreign legal services for fees below the minimum rates set by Italy's government are being illegally denied their rights under EU law, a European Court of Justice (ECJ) advocate general has concluded.
A boom in funding, the maturing market and high-quality advisers have led to sustained growth in the private equity buyout sector in the North West. Paul Jefferson reports
Eversheds has recruited a new funds partner for its London financial services practice.
A Beijing-based lawyer has been suspended by his firm after he was implicated in corruption allegations involving copy giant Fuji Xerox's Chinese subsidiary.
Cadwalader Wickersham & Taft's London project practice was finally put out of its misery last week with the departure of partner Paul Biggs.
Life in a boutique firm does not suit everyone, but for Jill Andrew and her partners it is paying dividends.
Political correctness and the campaign for diversity doesn't appear to have made its way across the Channel yet, if recent events at the offices of French giant Gide Loyrette Nouel are any indication.
Friends of the Earth in-house lawyer Phil Michaels is celebrating after forcing the Chancellor to make a U-turn on company reporting rules.
News reaches Tulkinghorn that Hunton & Williams, soon to be moving into the Gherkin, has had to agree to a clause in its lease that it will not refer to the building as the Gherkin. Even the Gherkin's own website calls it the Gherkin.Confused? Perhaps this will help. It's green, it's shaped like a vegetable, it's a bloody gherkin. Deal with it. Unless you're American, that is, in which case it's a pickle. Come on everybody, let's go party in the Pickle!
Tulkinghorn pities anyone trying to solicit the services of Milton Keynes outfit Fennemores. It appears that the firm's recent losses from its ranks of lawyers to emw law may have made things go pretty slowly there.Tulkinghorn spent a thrilling 15 minutes listening to Muzak on hold last week in a desperate attempt to speak to any actual humans at the firm. Where have they all gone?
DLA Piper Second" /It may seem like DLA Piper has been around for ever, but it's only been a year since the merger. And we'll admit it: it's been a damn good year for the world's most enthusiastic law firm.
Crowell's UK effort comes to naughtCrowell & Moring's supposed 'assault' on the UK market is showing signs of fizzling out only months after the Washington DC firm boasted of kickstarting its London operation with a new office head.
Hammonds' management is considering a second lock-in of partners when the current one expires at the end of June.
Swidler Berlin’s entire insurance group is joining Heller Ehrman’s Washington DC office, the two firms announced today (13 February).The group includes the former chair of Swidler’s insurance group Mark Plumer, three other director and eight additional fee earners. A Heller spokesman said the group chose to join the firm to avoid client conflicts generated by the merger of Swidler and Bingham McCutchen.
As readers will be aware, last November saw the Government's report on increasing diversity in the legal profession. To nudge things along a little, Bridget Prentice MP subsequently wrote to the UK's top firms and barristers' chambers for stats on the demographic make-up of their lawyers.
InBev, the world's largest beer company, is conducting its first global panel review.
Allen & Overy top on debt" /Allen & Overy (A&O) and Clifford Chance came top in debt, while Linkl
Matt Byrne on the month in the US
Hong Kong-based firm Johnson Stokes & Master (JSM) has announced its intention to open a third office on China's mainland this year.
Yorkshire firm Keeble Hawson is aggressively expanding its corporate capability, having hired two partners from local rivals Eversheds and Ford & Warren.
SJ Berwin has lost one of its founding Paris partners to US firm LeBoeuf Lamb Greene & MacRae. Jean Goncalves, a corporate tax partner advising on investment funds and private equity transactions, joined SJ Berwin in 2001 for the launch of its Paris office. Prior to that, Goncalves was European tax director for GE Healthcare, a division of General Electric. First revealed on www.thelawyer.com 8 February
Shepherd and Wedderburn has swooped on Scottish rival Ledingham Chalmers, poaching corporate finance specialist partner Helen Dickson for its growing Aberdeen office.
Lovells and Lewis Silkin are facing each other in the employment appeals tribunal (EAT) this morning (Tuesday 14 February) as former investment banker Stephanie Villalba takes her sex discrimination case against Merrill Lynch to appeal.
Lovells has successfully defended BlackBerry maker Research in Motion (RIM) and T-Mobile, winning the high-profile patent dispute against Inpro in the High Court a fortnight ago.
An amusing but cautionary tale from the US reached Tulkinghorn last week. Pierce County Superior Court judge Beverly Grant was presiding over a manslaughter sentencing hearing in which one Steve Keo Teang, charged with shooting Tino Patricelli during a fight outside a tavern, was awaiting his fate.
Ledingham Chalmers has again been rocked by a Scottish rival, with McClure Naismith taking a property team following McGrigors' stunning raid on Ledingham.
McDermott Will & Emery has posted global gross revenues of $799.5m for the 2005 financial year ending 31 December, a rise of 7 per cent from last year’s $745m.
Legal training needs to strike a balance between technical legal expertise and commercial nous. Jim Hever reports on some innovative learning techniques
Manchester and Liverpool are undergoing massive transformations as regeneration projects take off across the North West region. Karl Jackson reports.
The North West, as anyone in Liverpool or Manchester will eagerly tell you, is in the grip of a regeneration boom. New developments are springing up across the region, such as the Liverpool Arena and Convention Centre in the city's King's Dock, and cranes now dominate Manchester's skyline. Most notably, the new Civil Court Centre in Manchester will also provide a modern setting for litigation, with hopes that its opening in 2007 will result in more cases remaining local. So the announcement ...
Los Angeles-based firm O’Melveny & Myers has unveiled a 23 per cent increase in profit per equity partner (PEP) for 2005.
Olswang has strengthened its relationship with Protego Real Estate Investors following advice on three retail-led transactions worth more than £142m in the past three months.
Morgan Lewis & Bockius has made a further swoop on Orrick Herrington & Sutcliffe’s US private investment funds practice to take its fourth lawyer in a week.
When retail insolvency returned to the headlines, one partner and his team were in prime position to pick up most of the work.
Bircham Dyson Bell has promoted two lawyers to associate level: Benjamin James within company commercial, and Nitej Davda in the litigation group.
Salary fever has spread from New York and is threatening to engulf East Coast neighbour Philadelphia.
San Francisco-based Pillsbury Winthrop Shaw Pittman and Thelen Reid & Priest are the latest firms to be swept into the West Coast wave of associate pay rises, with both matching the new benchmark of $135,000 (£77,000).
The founder of Pinsent Masons' Manchester office Christopher Lumsden is on trial charged with murdering his wife. Lumsden, a banking and finance partner from Altrincham, Cheshire, is accused of stabbing 53-year-old Alison Lumsden to death on 16 March last year. Lumsden is being represented by Burton Copeland, led by partner Mike Mackie. Peter Birkett of 18 St John Street Chambers is the QC. Lumsden ...
The broadcasting and communications regulator Ofcom has embarked on an aggressive recruitment drive to boost its in-house legal capacity to deal with policy issues. In particular, the regulator is facing a rising number of decisions which are appealed to the Competition Appeals Tribunal.
A revolution is expected, but can hedge funds take over the world? Gemma Westacott reports
The Office of Fair Trading (OFT) is expected to deliver its much-anticipated decision regarding the pending merger of bookstore chains Waterstone's and Ottakar's.
The borough may be genteel and green, but PFI, planning, pubs and planes keep Richmond upon Thames Council's legal team pretty active, says Jon Parker
The London Borough of Richmond upon Thames is conducting a panel review.
"A float, a float, my bonus for a float." The Bard's immortal lines,slightly retooled, will soon bespilling forth from the lips of specially schooled lawyers nationwide.Rada, or to non-luvvies the Royal Academy of Dramatic Art,is launching a programme of specially tailored courses for law firms later this year.Run by tutors from what the blurb accurately describes as thehome of thesp greats such as Lord Richard Attenborough andthe late Sir John Mills, the ...
A new bill will help real discrimination victims pursue claims against their employers. By Lord Ouseley
Paul Hastings Janofsky & Walker has joined the ranks of US firms reporting double-digit growth for 2005, having seen turnover rise 10 per cent.
Psst! A tip for any stressed-out Allen & Overy assistants doing the graveyard shift. If you haven't already figured it out, the fridges in the bar in the London office may be locked at night, but the beer taps still run free. Enjoy!
Singapore firm WongPartnership has poached the country's inland revenue chief legal officer Leung Yew Kwong for its tax practice.
Pinsent Masons is to lose its insurance and reinsurance disputes practice head James Crabtree, who has quit to join Taylor Wessing.
The skill set needed for a successful legal career has changed over the past few years and 'one-size-fits-all' training no longer fits the bill, says Jonathan Croucher
As law firms contemplate upcoming legal reforms, accountant Grant Thornton is already in talks to sell off part of its business. Matt Byrne asks chief executive officer Michael Cleary his reasons
Tulkinghorn is delighted to report that, on 23 May 2006, The Variety Club will be hosting its annual Legal Gastronomic Evening at The Dorchester on London's Park Lane. The evening, organised by the club's legal committee, will raise vital funds for the Variety Club to continue its invaluable work supporting sick, disadvantaged and disabled children. Since its formation in 2001, the legal committee has raised nearly £100,000. As well as being a hugely enjoyable evening with particularly ...
Tulkinghorn regularly rages about the rudeness of certain switchboard operators or secretaries. But is it possible that those who are overpolite are even more annoying?
Catherine Usher, London managing partner, DLA Piper Rudnick Gray Cary
Trade union firm Thompsons has reached a pay agreement with fee-earners and staff, ending the threat of strike action.
Skadden Arps Slate Meagher & Flom (Scott Simpson) forged an alliance with Arcelor, the world’s second-largest steel maker, to defend it against a hostile takeover by rival Mittal Steel. Mittal, which has instructed long-term adviser Cleary Gottlieb Steen & Hamilton (Jean-Pierre Vignaud), made ...
The fundamental training that is the basis of the legal profession has had a rather bumpy ride of late. First, the Law Society unveiled a new set of proposals for the Training Framework Review late last year. They were radically different from its earlier strategy and withdrew plans to make the LPC non-compulsory. Then the whole future of legal education in England and Wales was thrown into doubt last month following the Law Society's decision to abolish the Training Framework Review Group.
A raft of US and UK law firms are set to flood China's mainland over the coming months, as the country opens its gates to more foreign firms.
WilmerHale has posted a global revenue figure of $815m for 2005 up 8.5 per cent from last year’s $750.5m.Global average profit per equity partner (PEP) was also up, hitting $915,000 from $870,000 last year, a 5 per cent increase.In London WilmerHale posted $39m while London PEP was not available.The firm, formerly Wilmer Cutler Pickering Hale and Dorr, rebranded as WilmerHale in October ...
Chicago-based firm Winston & Strawn is to focus on rebuilding its domestic practice and expanding in Asia and Europe following a management reshuffle and a spate of partner losses.
Law firms and trainees would both benefit if the Law Society Council's recommendation concerning injecting flexibility into training is taken up, writes Scott Slorach