17 November 2008
The Lawyer
A&O, Addleshaws bag building society sale
Allen & Overy (A&O) and Addleshaw Goddard have won key roles on Skipton Building Society’s acquisition of Scarborough Building Society.
Administration, intervention or a CVA? Firms in difficulty weigh their options
The economic crisis has claimed its first significant victims in the legal sector, with a 10-partner London firm among the recent casualties.
Ashurst boosts Asia presence with HK, China ties
Ashurst has kicked off its push into Asia with an association that will allow it to practise Hong Kong law.
Attorney General sets up global pro bono database
The Attorney General Baroness Scotland has launched an international database of pro bono work and key principles with the aim of encouraging best practice in the field.
Avoiding the axe... for now.
Like Trowers, Pinsents and A&O, Hill Dickinson has managed to find jobs for ...
Beresfords faces SRA over coalminers' fees
A solicitors’ disciplinary hearing against Jim Beresford of Beresfords Solicitors kicked off today, with the name partner facing 11 allegations of misconduct.
Beresfords fights coalminer allegations
Doncaster-based law firm Beresfords Solicitors yesterday denied exploiting sick miners and claimed it acted properly when earning millions of pounds from its clients.
Black Solicitors Network elects new chair
The Black Solicitors Network is due to elect a new chair at its AGM tonight (17 November). Vice-chair Cordella Bart-Stewart of North London firm Stewart & Co will succeed Michael Webster of Webster Dixon.The network is at the forefront of promoting diversity in the profession and has just published the third edition of the diversity league table. For more on the league table, see The Lawyer next week (24 November).
Cads’ lack of wads makes Link sink
Not long ago I was chatting to a managing partner who’d been on that residential Harvard course for lawyers – the one that seems to be compulsory for most City partners.
Cadwalader partners launch palace coup as profit crashes
Managing partner Bob Link could be ousted this week as political infighting reaches climax.
Cadwalloped!
The knives have been out for a while at Cadwalader. But this week, it's going to be former chairman Bob Link that gets cut (see story).
Camerons gets tough on billing targets
CMS Cameron McKenna has introduced tougher billing targets for partners in a bid to improve the cashflow from recession-hit clients.
Camerons reallocates to save seven associates from the axe
CMS Cameron McKenna is hoping to avoid redundancies in its real estate group and has rehoused four of the seven associates whose jobs were put under review last month.
Client relationship managers start network
Client relationship managers have set up a network to tackle issues facing client account professionals.
Clifford Chance breaks Singapore tie-up
Clifford Chance and Singaporean firm WongPartnership have terminated their joint venture arrangement, as the local firm has expanded aggressively in Asia.
Clifford Chance signs training deal with CoL
Clifford Chance has signed up the College of Law (CoL) to run every aspect of vocational training for its future trainee solicitors.
Clintons, Withers, line up for £2.4bn Ecclestone divorce
Clintons' star family lawyer Liz Vernon is to go up against Withers partner Mark Harper in the Ecclestone divorce, set to produce the largest divorce settlement in UK legal history.
CME Group goes global with Emea legal hire
The Chicago Mercantile Exchange Group has kicked off its international expansion with the hire of Taylor Wessing partner Adrienne Seaman as legal director and associate general counsel for Europe, the Middle East and Africa.
Collas Day steers £15m leasing of Helm Island
Offshore firm Collas Day has acted for the trustees of Guernsey-based company Starboard Settlement in the acquisition of Herm Island.
Covington enters Middle East alliance
US firm Covington & Burling has signed a strategic alliance with Qatar-based firm Institution Quraysh for Law & Policy.
Dentons counts on downturn to help it go back up in the world
Formerly a finance powerhouse, the firm has come to terms with its reduced status.
Dentons makes Islamic finance hire
Denton Wilde Sapte has hired Islamic finance specialist Muddassir Siddiqui as a partner and head of its Islamic finance practice in the Middle East.
Dewey and Freshfields on Jacko's High Court turn
Dewey & LeBoeuf has gone head to head with Freshfields Bruckhaus Deringer in a case brought by a Bahraini prince against singer Michael Jackson.
DWF leaves rivals behind with double-digit growth
The real estate practice at DWF has bucked the trend among North West firms with double-digit growth for the first six months of the 2008-09 financial year.
DWF posts 12.5 per cent half-year fees hike
DWF has posted a 12.5 per cent rise in fee income at the half-year stage.DWF has posted a 12.5 per cent rise in fee income at the half-year stage.
Eady J backs Withers over top chef's privacy claims
Celebrity chef Marco Pierre White has failed in his attempt to sue Withers for breaching his privacy during divorce proceedings.
EasyJet approach is right for our no-frills times, firms told
The key themes that dominated The Lawyer’s in-house summit in Berlin were litigation, regulation and, of course, costs.
Feature: Tabloid blues - privacy and the press
Daily Mail chief Paul Dacre’s speech to the Society of Editors, in which he took Mr Justice Eady to task for his privacy rulings, has laid bare the simmering tensions between certain papers and the judiciary.
Field Fisher in redundancy talks with 175 staff
Field Fisher Waterhouse (FFW) has launched a redundancy consultation with 175 support staff in London.
FoxMandal Little hires Akash Chittranshi IP lawyer
India’s largest law firm by lawyer numbers, FoxMandal Little (FML), has hired a new head of copyright from specialist Indian IP firm Akash Chittranshi & Associates.
Gide sees off rivals to win lead role on sale of aircraft manufacturer
Gide Loyrette Nouel has edged out Clifford Chance and Willkie Farr & Gallagher to score its first French instruction from defence company EADS in five years.
India in grip of talent war as FoxMandal forges ahead with recruitment drive
Indian firm FoxMandal Little has hired four new associates as part of a major recruitment spree that has boosted the firm’s lawyer count by 63 in the past year.
Litigation explosion fails to materialise
The number of cases being launched in the High Court has reached a six-year high, ;but ;the ;much-anticipated litigation boom has yet to take off.
Lloyds, RBS kick off post-crunch panel reviews
Lloyds TSB and troubled rival Royal Bank of Scotland (RBS) have both kick-started panel reviews as Lloyds’ HBOS takeover remains up in the air and RBS regroups after seeking a bailout from the Government.
London gains six new partners in Latham promos
Latham & Watkins has promoted 30 lawyers to its partnership, with the London office getting six new partners.
Lovells aids rape claimant to fend off damages suit
Lovells’ pro bono team has successfully represented a rape claimant whose alleged attacker tried to win £300,000 in compensation from her.
Lovells' Harris wins contested leadership election
Lovells managing partner David Harris has been re-elected for a second four-year term following a contested election that saw European head Harald Seisler put himself forward for the role.
Mayer Brown in redundancy talks with 11 London lawyers
Mayer Brown in redundancy talks with 11 London lawyers" /Mayer Brown has launched a redundancy consultation for 11 lawyers working in its London office.
Memery Crystal defends layoff stats
Memery Crystal has rebutted claims made by former employees that at least 20 people lost their jobs in two rounds of redundancies in July and October this year, arguing that the correct figure is 16.
Middle man: Paul Bentall, Financial Ombudsman Service
Financial Ombudsman Service general counsel Paul Bentall’s sense of fair play has helped make his organisation respected the world over.
Mishcon joins ‘Pink Law’ advice initiative
Mishcon de Reya has signed up alongside Field Fisher Waterhouse (FFW) and Reed Smith to work pro bono for a new advice service at Queen Mary, University of London.
MoFo hires Links Tokyo founder
Morrison & Foerster (MoFo) has hired Linklaters’ capital markets star Tony Grundy to bolster its Tokyo office.
Moves roundup: 17 November 2008
Hedge fund specialist Schulte Roth & Zabel has raided McDermott Will & Emery for partner Nick Terras (left), who joins the firm’s London office as a partner in the investment management group. McDermott London managing partner Doron Ezickson said: “Nick’s joining a niche hedge funds firm that’s very well suited to his practice. I understand and support Nick’s decision to move in such a direction and wish him every success there.”
Much obliged: how much power does the Pension Regulator have?
Fresh changes to the law appear to have given the Pensions Regulator the power to require contributions in relation to non-insured buyout solutions. By Charles Cameron and Sandeep Maudgil
Nabarro hikes finance team
Nabarro hikes finance team" /Nabarro has bolstered its finance practice by hiring former Jones Day partner Marc Isaacs.
Nabarro in redundancy talks with 22 staff members
Nabarro in redundancy talks with 22 staff members" /Nabarro has become the latest in a line of firms to start a redundancy consultation, reviewing a total of 22 jobs across its offices in London and Sheffield.
New redundancy consultation puts 76 Eversheds jobs at risk
Eversheds has launched a second round of redundancy talks with 45 lawyers and related support staff, taking the total number of jobs under threat at the firm to at least 76.
One Brick Court faces Ugly dispute
One Brick Court and Russell Jones & Walker have been instructed by 9-12 Bell Yard barrister Constance Briscoe in her defence against libel allegations brought by her mother.
Opinion: Yes, we can trust Obama to do right by international law
The US Constitution is the oldest working constitution in the world. But it has been under siege recently and the legal stakes in the Obama-McCain election could not have been greater. McCain, for example, had publicly stated that he would (attempt to) reverse Supreme Court decisions regarding Guantanamo Bay if he was elected.
Orrick axes 40 lawyers; London gets off lightly
Orrick Herrington & Sutcliffe is the latest US firm to announce layoffs, with 40 associates across its real estate, structured finance and corporate practices set to leave the firm.
Pannone plays Cupid to divorce clients
North West firm Pannone has launched a dating forum for its divorce clients.
Pickering elected as Irwin Mitchell chief
Irwin Mitchell’s personal injury head John Pickering has been elected unopposed to the post of managing partner.
Safety measures: de-risking pension schemes
For employers and trustees looking to ‘de-risk’ their pension schemes, the emergence of a series of inventive approaches to dealing with liabilities offer them genuine opportunities to achieve their goals. By Ian Cormican and Caroline Legg
Sets create think tanks to shape future legislation
London-based Landmark Chambers and North West set Kings Chambers have launched independent think tanks to develop their respective areas of law.
Simmons helps Qatar add to UK property holdings
Simmons & Simmons has advised sovereign wealth fund the Qatar Investment Authority (QIA) as it expands its UK property portfolio further.
SJ Berwin partner slammed by Tories
SJ Berwin partner Jonathan Djanogly, Conservative MP for Huntingdon, has been criticised for using the firm's trainees for parliamentary research work.
Skadden sets pace by ditching special bonus
Skadden sets pace by ditching special bonus" /Skadden Arps Slate Meagher & Flom has abandoned special bonuses for associates due to the economic downturn.
Slaughters advises on Santander rights issue
Slaughter and May has teamed up with best friends Davis Polk and Spain's Uria Menendez to work on Banco Santander's E7.2bn(£9.2bn) rights issue.
Special report: Financial services & pensions
The Financial Services Authority (FSA) has come under renewed scrutiny in recent months following the meltdown in the banking sector.
Squire Sanders announces 30 US job cuts
Squire Sanders announces 30 US job cuts" /Squire Sanders & Dempsey has become the latest US firm to shed staff, announcing a total of 30 associate and support staff layoffs today.
SRA begins final consultation on qualified lawyers transfer scheme
The Solicitors Regulation Authority (SRA) has launched a final consultation into the new ‘qualified lawyers transfer scheme’ (QLTS).
SRA comes under fire in Beresfords tribunal
The Solicitors Regulation Authority (SRA) was accused of ignoring “false information” and holding a “biased” investigation, as the disciplinary tribunal against the coalminers lawyer Jim Beresford continued today.
Technology boutique launches in West End
Outsourcing lawyer Rory Graham and former Baker & McKenzie disputes lawyer Robert Coffey have launched their own firm.
The sum of all fears: the changing bonus culture in financial services
The recent financial crisis has seen Gordon Brown confirm that “the days of big bonuses are over”. With a number of banks either nationalised or partly nationalised, it is clear that the government will be able to influence a number of banks' remuneration policies.
Thompsons goes up against ex-partner
Thompsons is set to go head-to-head with former partner Stefan Cross in a case that could have far-reaching implications for equal pay cases in Scotland.
Tulkinghorn: Electric shocker, hair and faces and two left feet
So with the difficult first week far behind us, Team Tulkinghorn’s collective moustaches are growing bushier. Now it’s just a case of making friends with the lip wig and pushing on to the next level. Remember, you can support Team Tulkinghorn in their efforts by sponsoring them at www.movember.com.
TWM solicitors
TWM.jpg" alt="TWM solicitors" /Spread across seven offices, TWM Solicitors is both one of the oldest law firms in Surrey and one of the newest.
Vapid response? FSA shortcomings
The economic crisis has forced the FSA to admit to its shortcomings. Carlos Conceicao is looking forward to seeing a more challenging and helpful regulator
Weather-proofing: pension lawyers and the stock market collapse
As employers and trustees face up to the impact of the recent stock market collapse on pension schemes, the role of pensions lawyers in helping them steer a course through choppy financial waters is more vital than ever. By Anthony Arter
Web Week
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.
Wedlake, Beachcroft score Jaeger launch
Wedlake Bell and Beachcroft have scored the lead roles on fashion company Jaeger’s new flagship store in Westfield London, the UK’s biggest ever in-town shopping centre.
Weil called in to restructure UK food giant’s £1.7bn debt
The London office of Weil Gotshal & Manges has picked up the lead role on the restructuring of Premier Foods’ £1.7bn debt burden.
White & Case to cut staff in US and London offices
White & Case to cut staff in US and London offices" /Ten jobs are on the line at White & Case’s London office as part of a global review that will also reduce the firm’s headcount in the US by 9 per cent.
Winston Strawn bags 19 lawyers from Thelen
Chicago-based Winston & Strawn is the latest to profit from the demise of Thelen, hiring 19 Thelen lawyers into three of its offices.
Work Life Quiz: James Knight, Keystone Law
