16 January 2006
The Lawyer
A vision in yellow
The hilarity was turned all the way up to 11 in the PR room at Allen & Overy (A&O) last Wednesday (11 January), when that day's issue of the FT hit the desks. On page 23, in full CDO-selling glory, was a thoughtful-looking trader type bearing an uncanny resemblance to the firm's top ...
Identity bereft
Was Oliver Bretz auditioning for Gone in 60 Seconds 3: Laying Down the Law recently? The Clifford Chance partner was motoring around in his Audi one weekend when the competition star -legendary for his willingness to dress down at the weekend - was pulled over by the law.
UK Roundup: Management
Matt Byrne on the month in management: Allen & Overy moots partnership equivalents Work in progress rules clarified Senior partners find few roles
A good Sweetener
Pillsbury Winthrop Shaw Pittman broke new ground last week in its relations with Tulkinghorn. In fact, it's not going too far to say it hit the nail on the head.When it comes to building bridges with editorial, nothing quite hits the mark like a dirty great slab of chocolate. The particular sweet received at Tulk Towers was so ineffably bricklike that a hammer was required to break it. Thankfully, Pillsbury also supplied said tool. Sweet.
A&O scoops Lovells private equity star
Lovells private equity star Derek Baird has resigned for Allen & Overy (A&O), leaving the top ten City firm with just one private equity partner in London.
Acquisition Finance Update
The biggest financing deal of December was the £3.3bn package supporting Dubai Ports World's bid for P&O - a bid which at press time was being contested by Singapore-based PSA. Allen & Overy (A&O) partner Mike Duncan led for Deutsche Bank, while Clifford Chance partner Mark Campbell advised Dubai Ports World. ...
Addleshaws and CC scoop Lookers roles on Vardy deal
Addleshaw Goddard has secured a role on Lookers bid for car dealership Reg Vardy.
Another shakeup at C&W sees Energis GC scoop top job
NICK Cooper has scored the top legal job at Cable & Wireless (C&W) following the shock departure of general counsel Andrew Garard.
Ashurst kicks off international push
Ashurst has revealed plans to expand its offices throughout Europe and Asia in a bid to increase the amount of work generated outside London.
Authority figure
A raft of strategic changes followed Margaret Cole's appointment at the FSA. Six months on, and the previously ailing enforcement process is looking at a more robust future. By Gemma Westacott
Avocado
"We were not too old to try something new, but not so young as to appear ridiculous." This is managing partner Christian Berger's reasoning for the decision to call his new law firm Avocado. In addition to the unusual name, the firm even has the tagline 'Vitamins for the economy'.
B&M and Linklaters stave off Formula 1 negligence action
Baker & McKenzie (B&M) and Linklaters have settled the negligence claims brought against them by Formula 1 (F1) teams McLaren and Williams less than a month before the trial.
Beale & Company to expand from Bristol base
Insurance and construction boutique Beale & Company has launched an office in Bristol, to be led by professional indemnity lawyer Paul Redfern. Beale managing partner Anthony Smith said: "This is an exciting development for Beale & Company and its clients. Our strategy has been to secure a regional base and to extend our expertise into complementary areas." Through its new opening, the London-based firm intends to extend its practice in the regions. The office was opened on 3 January ...
Berrymans hire heralds policy development launch
Berrymans Lace Mawer has hired Association of British Insurers (ABI) policy developer Alistair Kinley to head a new policy development team.
Bird & Bird scoops Olympics sponsorship role
BIRD & Bird has been added to the panel advising the London Organising Committee of the Olympic Games (LOCOG).
BLP halves Dewey line-up in London
Questions were raised over the stability of Dewey Ballantine's European network last week, after two of its remaining four London-based English partners left the firm for Berwin Leighton Paisner (BLP).
Boss bashing
Partners, does your secretary like you?
Break for the border
Mark Parkhouse reports on the upcoming change to the Insolvency Act 2004, which will legislate for cross-border insolvencies
BT shakes up firm panel in global refocus
Telecoms giant BT is set to split its panel into two groups - one general, the other specialist - as it targets firms with global capabilities for its next legal panel.
Capgemini rustles up replacement for Wong
IT and outsourcing company Capgemini has promoted Jane Bevan to the position of UK and Ireland general counsel following the shock departure of Barry Wong. Capgemini declined to comment on the reasons for Wong's departure and Wong could not be reached for comment. Bevan joined Capgemini in July 2000 from Field Fisher Waterhouse. She was Wong's deputy and will now report to UK chief financial ...
Careers: In brief
Kennedys has appointed Jonathan Raynes as a partner in the construction team.
Careers: People
Norton Rose has bolstered its global tax team with the hire of Monique Fry, a senior associate from Ashurst. Fry specialises in share incentive schemes.
CC boosts DC with Winston's European projects head
Clifford Chance has boosted its energy and projects practice in the United States with a raid on Winston & Strawn.
City Report
Despite the mass exodus from the City during the festive period, M&A lawyers experienced a relatively busy end to 2005. According to Thomson Financial, 292 deals involving any UK element and totalling $43.5bn (£24.7bn) were announced in December 2005. In contrast, November saw 260 deals totalling $34.6bn (£19.6bn) announced.
Cloisters kicks off 24-hour injunction unit
Cloisters Chambers is launching a dedicated 24-hour hotline designed to give solicitors a round-the-clock service to help them file injunctions.
Clydes, Norton Rose expand in Asia with Shanghai openings
Norton Rose expand in Asia with Shanghai openings" /Clyde & Co and Norton Rose are moving into China's biggest city after securing licences to operate in Shanghai.
Cobbetts snares DLA Direct chief executive
The former chief executive of DLA Direct, Andrew Bennett, is joining Cobbetts as a partner nine months after being replaced by chairman David Medcalf.
Collas Day picks replacement for outgoing senior partner
Offshore law firm Collas Day Advocates has appointed a new senior partner.
Cooley, DLA, Fenwick and Sheppard match LA associate pay hikes
Cooley Godward, DLA Piper Rudnick Gray Cary, Fenwick & West and Sheppard Mullin Richter & Hampton announced yesterday that they are bumping up associate salaries, following the lead of LA-based firms.
Crunch time at the OFT: enforcement boss gives green light to early screening unit
The Office of Fair Trading (OFT) is to launch a preliminary investigation unit to screen new cases amid mounting public pressure to put its house in order.
De Brauw top dog gives up board role
Jaap de Keijzer, the managing partner of Dutch heavyweight De Brauw Blackstone Westbroek, has stood down from the board to be succeeded by litigation head Mark Biesheuvel.
Deals Comment
Clifford Chance is understood to have secured an instruction from CVC Capital Partners on its pending £3bn bid for the UK’s largest bookmaker Ladbrokes.
Deals round-up
Ashurst is advising Electra Investment Trust and investment manager Electra Partners Europe in relation to the $285m (£161.4m) sale of Inchcape Shipping Services (ISS) to Istithmar.
DLA, Barclays and Ford lend a hand to young entrepreneurs
Young entrepreneurs and voluntary groups are being trained by City firm DLA Piper Rudnick Gray Cary as part of a series of events backed by Barclays Bank and Ford Motor Company.
Double bill
The Company Law Reform Bill makes life easier for insolvency practitioners and lawyers on two fronts. Tom Withyman and Tim Pritchard explain the proposals
Dutch bar plans to end Hague's reign
The Dutch National Bar Association is preparing the final touches to plans that will see an end to The Hague bar's monopoly on Supreme Court litigation.
European Payments Council looks to CC
Clifford Chance has scooped the lead advisory role to the 7,000 European banks that have been ordered by the European Commission to develop a new integrated payments system by 2008.
Exchange brings in new blood to refocus Manchester branch
North West set Exchange Chambers has continued its growth with the hire of five tenants. The hires are designed to refocus its Manchester operation as a common law set.
Faegre advises on Sarbanes-Oxley guidelines
The French data protection watchdog has issued guidelines designed to help companies comply with the Sarbanes-Oxley Act, with Faegre & Benson assisting with the project.
Firm profile: Underwoods
Senior partner: Kerry Underwood Turnover: £1.5m Total number of partners: Four Total number of fee-earners: 12 Main practice areas: Company and commercial, employment, family, personal injury and private client Key clients: Mainly private client Number of offices: One Location: ...
Fish & Richardson opens Atlanta branch
Boston patent litigation specialist firm Fish & Richardson is to open its tenth US office in Atlanta with a two-partner hire from Jones Day. Patent litigators Nick Setty (left), who will head the office, and Daniel Kent join from the Atlanta office of Jones Day. Fish ...
Former client hits Ince with $35m action
A former client of Ince & Co is attempting to seize $35m (£19.8m) of the firm's assets as part of a multimillion-dollar claim against the shipping specialists.
Fountain Court employment silk Underhill appointed judge
Fountain Court Chambers is losing yet another silk to the bench as employment star Nicholas Underhill QC becomes a High Court judge.
French cheese
This week's prize for most irrelevant comment in a press release goes to Taylor Wessing for the gem found in a French communiqué about the hire of a new partner.
Freshfields beats rivals to IPO for Bank of China
Freshfields Bruckhaus Deringer has trampled its competition to win the top advisory role on the Bank of China's $8bn (£4.5bn) IPO.
Freshfields revamps US management team
Freshfields Bruckhaus Deringer has appointed New York-based finance specialist Brian Rance to succeed Ted Burke as US managing partner.
Gardner Carton sets up in Manhattan
Chicago firm Gardner Carton & Douglas has opened in Manhattan with two bankruptcy partners. Stephanie Wickouski, Washington DC head and co-chair of the firm's corporate restructuring and financial institutions practice group, will head the new office. Janice Grubin has moved from 35-lawyer New York firm Wormser Kiely Galef & Jacobs, where she was chair of the bankruptcy practice, with one assistant making up the legal staff. The $129.5m (£73.3m) turnover, 250-lawyer firm has a New ...
Grapevine
Congratulations to Freshfields Bruckhaus Deringer's new global litigation head Ian Terry, who has been lured back to management by doting colleagues.
Haarmann loses Berlin office as Salans strikes
Salans has made a dramatic first move into the German legal market by snatching the Berlin office of the beleaguered German independent Haarmann Hemmelrath.
Hammonds draws line under Rossotto deal
Hammonds has finally reached an agreement with its Italian merger partner after months of tense negotiations about the future of the relationship.
Heller spearheads West Coast charge to London
San Francisco giant gears up for February launch; Heller chief flies in to find City merger partner
Herbert Smith joins Co-op for insurance group restructure
Herbert Smith has worked with Co-operative Financial Services' (CFS) in-house legal function to bring about a complete restructuring of the mutual's insurance business.
Insolvency
There can be nothing more heartbreaking than facing the cold, hard truth that your business is in dire trouble and headed for insolvency. But this can be an equally trying experience for those offering assistance to the troubled. This insolvency special report examines whether the new Company Law Reform Bill will ease the burden on insolvency practitioners and lawyers. It also examines whether pre-appointment costs in administrations can ever be recovered; reviews the upcoming change ...
International eye: US
Gemma Westacott on the month in the US: Greenberg faces criticism after Abramoff pleads guilty to fraud US firms embark on consolidation Holland & Knight downscales offices and management Associates receive disappointing bonuses despite promising results
January blues hit the shops early - and stay later
Retailers suffer as traditional New Year insolvency troubles start in December. By Lorraine Cushnie
Kirkland sparks city rumour mill
Want to know the biggest rumour in the City right now? It's not the Linklaters senior partner election. Or BLP launching in Dubai - expensively.
Latin classes
The other day one of Tulkinghorn's minions was talking to a proud US chief executive officer about his business's record for diversity. Certainly, there was a high proportion of the local Latino population featured in the business.However, the hack was forced to bite his tongue when the company boss mentioned the linguistic connections to Spain. "You know," he added helpfully, "the one in Europe." Aha, of course. Gee, thanks.
Lawrence Graham dumps outdated international network
Lawrence Graham has walked away from its network of European law firms following a wholesale review of its international relationships.
Linklaters in merger talks with Giliberti
Linklaters has entered merger discussions with leading Milan-based M&A boutique Giliberti Pappalettera Triscornia e Associati in its efforts to re-enter the Italian market following its split from long-term Italian ally Gianni Origoni Grippo & Partners.
Linklaters launches charity in name of murdered lawyer
Linklaters have set up a charitable trust in memory of its associate Tom ap Rhys Pryce, who was murdered 12 January in London.
Logo stick
Hold the front page. Word reached Tulkinghorn last week that the perennial winner of the Scottish self-promoting firm of the year award, Pagan Osborne, was bracing itself for the unveiling of a new corporate logo.
Lovells Singapore wins major PPP projects
Lovells has targeted PPP work in South East Asia. The push is led by the firm's Singapore office, which has scored instructions on the country's two biggest projects.
McGrigors partner quits for West Coast Capital
Leading Scottish firm McGrigors has lost the head of its corporate practice to private equity house West Coast Capital.
Mellon turns to MBR&M for WestLB joint venture
Mayer Brown Rowe & Maw has advised regular client Mellon Financial Corporation on its asset management joint venture with WestLB.
MoD dumps Simmons from panel
Simmons & Simmons projects practice has lost its most important client following the Ministry of Defence’s (MoD) latest review of its legal panel for projects.
Mourant and Ogier expand London space
Offshore law firms Ogier and Mourant du Feu & Jeune are aiming to ramp up in London after securing larger offices for the new year.
Nabarro Nathanson wins dual role on Cardiff city centre regeneration
Nabarro Nathanson wins dual role on Cardiff city centre regeneration" /Nabarro Nathanson has completed a major development agreement for two key clients that will reinvent Cardiff city centre and see the Welsh capital become "one of the top retail destinations in Europe", according to property partner James Madden.
Nabarros adds third Freshfields hire to line-up
Nabarro Nathanson has taken on Freshfields Bruckhaus Deringer property lawyer Rhodri Pazzi-Axworthy as a partner. Pazzi-Axworthy, who was a senior associate hired for his outsourcing experience, is the third former Freshfields property lawyer to join Nabarros in the past two years, following James George ...
New King & Spalding partner plans massive growth in City
Atlanta-based King & Spalding is looking for significant growth in its London office with the addition of tax and employment teams following the appointment of new managing partner John Keffer.
Norton Rose aims to rebuild with new banking head
Norton Rose’s global head of banking Jeffery Barratt is stepping down to be replaced by the firm’s London banking head Stephen Parish.
Opinion
The Olympic Games cannot survive without sponsors and those sponsors need legal protection
Osborne Clarke poaches AG private equity star
Osborne Clarke has scooped an Addleshaw Goddard partner and former in-house counsel at 3i Keir Barrie.
Partner of the month
Oliver BretzFirm: Clifford ChancePartner since: 2002Educated: Cambridge UniversityKey clients: Barclays, Telefonica, Citigroup, European Payment Council, Publishers Association, Heinz, Shell
Paying for pain
US victims of terrorism have now been granted leave to sue those countries that supported the terror tactics. Will Europe follow suit? Michael Martinez investigates
Payment plans
Giles Maynard Connor asks if pre-appointment costs in administrations can be recovered
Pinsents identifies Bejing for launch of second China base
Pinsent Masons has announced plans to launch a new office in Beijing later this year as part of a renewed push into China.
Plender bags WTO role
20 Essex Street’s Richard Plender QC has been appointed to the list of external legal counsel maintained by the Advisory Centre on World Trade Organisation (WTO) law.
Reed Smith UK outstrips firmwide revenue rise
REED Smith has posted a 12 per cent increase in firm-wide revenue, with the two UK offices posting 15 per cent growth.
Regulatory Roundup
Europe's competition watchdogs went into hyperdrive as 2005 drew to climactic end.
Richards Butler takes DAC competition head
Richards Butler has poached the head of Davies Arnold Cooper’s international trade, transport and competition unit Marjorie Holmes.
Rupert Pearce: Inmarsat
In the world of global communications legal security is paramount, and despite its small size Inmarsat's in-house legal team manages to keep on top. David Middleton reports
Salou grabs top job at Orrick Paris
Orrick Herrington & Sutcliffe has picked partner Stéphane Salou as its new Paris managing partner, following the completion of the US firm’s merger with Rambaud Martel.
Saving grace
New powers give the Pensions Regulator the ability to take action on underfunded pension schemes. Gary Cullen reports
Security Pact
In an effort to tempt foreign companies to the US market, the SEC is proposing to liberalise deregistration. By Alan Bannister
Separated at birth
Assistant attrition. It's a 'mare.
Serle Court takes on insolvency barrister
Serle Court has added a Bristol-based barrister to its roster of associate tenants, boosting its insolvency expertise. Nicholas Briggs joined the commercial and Chancery set in the new year. He will also remain a member of Bristol's Guildhall Chambers. Briggs acts for major clearing banks, including NatWest, and has built up a broad insolvency practice on the Western Circuit.
Shearman to advise on exchange of Iraq bonds
Shearman & Sterling's capital markets team is celebrating after winning the mandate to advise the banks which are arranging the exchange of commercial debt by the Iraqi government.
SJ Berwin strategy review sees Euro reach expanded
SJ Berwin strategy review sees Euro reach expanded" /SJ Berwin is to expand and restructure its European network of offices under the same areas of expertise as part of its ongoing firmwide strategy review.
Skadden stars secure top two places in M&A tables
Skadden stars secure top two places in M&A tables" /As first reported on www.thelawyer. com last Tuesday (10 January), Simpson topped Mergermarket's 2005 pan-European league table by value of individual lawyers, advising on nine deals worth €70.63bn (£52.36bn) during 2005. Meanwhile, ...
The privileged fewer
The US is seeing an attack on the tradition of attorney-client privilege to the extent that lawyers may soon be no more than government agents. Stephen Grafman reports
The work-life quiz
Richard Langley, litigation partner, Bircham Dyson Bell
Things are looking up
Clifford chance hard man Alan Inglis is a man unmoved by seeing his name in lights. Not for him the head-turning opportunities offered by a glitzy photo shoot for this year's Hot 100.So it was with some surprise that Tulkinghorn discovered that the stoic banking partner did indeed have some traces of vanity buried beneath his sturdy camouflage. Enough for him to fork out for an eye-lift anyway.
Top International Deals
Shearman & Sterling is helping Boston Scientific pile the pressure on Johnson & Johnson's troubled bid for Guidant. Boston Scientific announced on 5 December 2005 that it is offering $72 (£41) of cash and stock per Guidant share - an offer totalling $25bn (£14.2bn), which is around $3bn (£1.7bn) higher than the value of Johnson & Johnson's present bid. Johnson & Johnson originally offered $25.4bn (£14.4bn) for the company in December 2004, but revised its bid to $21.5bn (£12.2bn) ...
United States
As transatlantic transactions increase, so do their complexity. This US special report looks to the lessons that can be learnt from the current attempts to reduce attorney-client privilege and the Securities and Exchange Commission’s proposal to allow foreign issuers the ability to avoid the burdens of Sarbanes-Oxley by deregistering in the US. It also examines whether Europe should follow in the US’s footsteps and enable victims of terrorism the legal avenue to pursue compensation ...
University challenge
John Smith talks of the success of Reed Smith University little more than a year after its launch
Watson Farley to merge in Hamburg
Watson Farley & Williams has taken over Hamburg-based firm WBS Wegner Bechtel Schmidt (WBS) to boost its fledgling German operation.
White & Case raids Akin Gump for DC tax team
White & Case has hired two tax litigators from Akin Gump Strauss Hauer & Feld including highly-rated Michael Quigley to head the firm’s US tax controversy practice.
Willkie Farr Germany nabs Linklaters private equity star
Linklaters Oppenhoff & Rädler’s high profile private equity partner Jochen Winter has jumped ship to Willkie Farr & Gallager after 20 years at the firm.
Winston boss set to appeal judge's ruling in wage row
A senior partner of US firm Winston & Strawn is to appeal a ruling by a Manhattan judge, which dismissed most of his multimillion-dollar lawsuit against the firm.
