18 July 2005
The Lawyer
Deals round-up
Freshfields Bruckhaus Deringer, led by corporate partner Sundeep Kapila, advised Deutsche Bank on the sale, via auction, of Deutsche Asset Management to Aberdeen Asset Management for £265m. Scottish firm Maclay Murray & Spens and
A model of twaddle
The Lord Chief Justice, Lord Woolf was on sparkling form last Wednesday (13 July) when speaking at the Lord Mayor's dinner for Her Majesty's judges.
Addleshaws dumps London bonus in bid to mend North-South divide
National giant in radical shake-up of partner pay structure as it moves to integrate legacy practices two years post-merger
Anglo-Saxon private equity bidders pile into Madrid
Spanish elite and City firms cash in on corporate bonanza. By Gemma Westacott
Ashurst: PEP rises as turnover stalls
Ashurst’s financial performance has rebounded with the firm reporting a 9 per cent increase in average profits per equity partner (PEP) last financial year to reach £567,000.
B&M London's PEP rise leaves rest of firm trailing
Baker & McKenzie (B&M) has had a storming year in London, with profit per equity partner (PEP) shooting up 33 per cent from last year's £335,000 to £445,000.
Bird & Bird wraps up Kit-Kat win for Nestlé
Bird & Bird and Nestlé's in-house team have secured a landmark victory in the European Court of Justice (ECJ).
BLG reels as non-contentious team splinters
Barlow Lyde & Gilbert (BLG) has been rocked by the loss of its superstar head of commercial and technology Kit Burden to DLA Piper Rudnick Gray Cary.
Browne Jacobson records big jump in profit
Browne Jacobson has reported a record 37.4 per cent increase in average profit per equity partner (PEP) and a 12 per cent rise in turnover to £27m.
Buddies jolly at the cricket
Summer is most emphatically here and half of the City seems to already be on holiday. The other half seems content to down tools in favour of the comforting sound of leather on willow.
Building your assets
People are the most valuable asset at broker ICAP, and it is no different for the legal team, which is on the lookout for its own new stars. Gemma Westacott reports
Careers: In brief
John Wells has been elected as the 42nd national president of the Institute of Legal Executives (Ilex). Wells is a partner at the Roberts Rose Partnership in Leicester and specialises in conveyancing and probate work. During his presidential year, he will focus on the changes Ilex will make to meet the Government's response to the work done by Sir David Clementi on the regulation of legal services.
Careers: People
Midlands firm Heatons Solicitors has recruited Birmingham corporate specialist Helen Gasser to join the corporate finance team. Gasser joins from Eversheds in Birmingham.
CC wins Court of Appeal fight with Fulham FC
Clifford Chance has won a Court of Appeal ruling on behalf of client Jean Tigana, the former manager of Fulham Football Club, in his dispute with the club.
Central European offices commit to EY Law
The law firms in Ernst & Young’s (E&Y) central European area have reaffirmed their commitment to EY Law Europe despite a fresh round of departures from the network.
Cobbetts adds seven new partners
Cobbetts has promoted seven associates to partner, lifting the total number of partners in the firm to 147.
Cooley in DLA Piper snatch for DC office
West Coast firm Cooley Godward is opening an office in Washington DC following a raid on DLA Piper Rudnick Gray Cary. The raid included the hire of the former managing partner of Gray Cary's DC office.
Coudert loses French public policy head
Beleaguered Coudert Brothers has lost its public policy head in France to French independent Ginestié Magellan Paley-Vincent. Catherine Jeancolas joins former DLA ally Ginestié to create a public policy department. She joined Coudert from Willkie Farr & Gallagher in 1998.
Davis Polk swoops for Freshfields Paris M&A head
Davis Polk & Wardwell’s Paris office has poached Freshfields Bruckhaus Deringer’s new co-head of M&A Arnaud Peres.
Deals Comment
Herbert Smith is celebrating after longstanding client Associated British Foods (ABF) signed a deal to buy Littlewoods from the Barclay brothers for £409m. It is understood that ABF was initially part of a consortium which includes retailer New Look. The consortium initially instructed Simmons & Simmons to do the diligence, but once ABP decided to go it alone, the firm was replaced by Herbert Smith.
Dechert adds to recent private equity hires with Baker & McKenzie star
US firm Dechert has poached rising private equity star Adam Levin from Baker & McKenzie (B&M).
DWS advises England on Ashes eve
Denton Wilde Sapte (DWS) has started its cricket season by advising the England and Wales Cricket Board (ECB) on the renewal of its sponsorship arrangement with Vodafone.
Early prisers
Richards Butler is taking the hunt for its next rainmaking partner to the extreme. With the motto 'get them early' clearly its mantra, the firm recently held a seminar aimed at its clients' children.
Endeavour Partnership invents fee scheme to help the NSPCC
North East firm the Endeavour Partnership has joined forces with the NSPCC in a novel fundraising scheme. The firm was approached by the Institute of Directors, which sponsors the NSPCC, to back the charity, but instead came up with a new way of supporting the group and its projects, which involves splitting fees on selected areas of legal advice.
Equitable Life abandons £1.3bn 'lost sale' claim
Equitable Life has abandoned its £1.3bn 'lost sale' claim against former auditors Ernst & Young (E&Y), vastly reducing the amount claimed in the ongoing High Court litigation.
Firm profile: Levi & Co
"We see ourselves staying in the mid tier but growing bigger," says Steven Newdall, managing partner of eight-partner Leeds firm Levi & Co. "We like the phrase 'big isn't always beautiful'. The idea is to grow where clients demand our services rather than simply growing for the sake of growing."
Former client puts Ince in dock over shipping brawl
City-based shipping specialist Ince & Co has been hit by a multimillion-dollar negligence claim from a former Greek client.
Freshfields wins lead role on Debenhams recapitalisation
Freshfields Bruckhaus Deringer has confirmed its position as lead adviser to Debenhams with a major role on the company's £2bn refinancing.
FSA boosts enforcement team with new lawyers
The Financial Services Authority (FSA) is to recruit two or three in-house lawyers in a bid to develop a separate legal capability to assist its enforcement regime.
Grapevine
End of an era as Ralphs retires
Hammonds PEP slumps 25 per cent
Hammonds has finally announced its financial results for 2005 and average profit per partner has sunk 25 per cent to £204,000 from £272,000 last year.
Herbies secures major Indian telecoms work
Herbert Smith has furthered its strategic push into both the Asian and communications markets with the completion of its largest transaction to date for key Indian client the Tata Group.
Hogan forks out £5m on London office refit
US law firm Hogan & Hartson is spending almost £5m on the refit of its new expanded London premises, which have the capacity for the firm to double in size.
Horsehair scare
The inaugural First Counsel Ladies Invitation Fegentri Stakes at Newbury on 16 June was a stellar affair. All the jockeys in the rec cons-sponsored race, won by 'Scottish River', were women, the champagne was pink and the last race of the day, appropriately enough, was won by a horse named 'Attorney'.
Irish competition ace joins Monckton
Monckton Chambers has brought in Irish silk Michael Collins SC as a door tenant in a further boost to the set’s competition expertise.
James Chapman sweating over Man Utd in-house hire
Manchester United FC's principal legal adviser James Chapman & Co is on tenterhooks as it awaits the appointment of the club's first in-house lawyer.
Kramer Levin in Paul Hastings raid
Berwin Leighton Paisner's (BLP) US alliance partner Kramer Levin Naftalis & Frankel has raided rival US firm Paul Hastings Janofsky & Walker to hire a team of land use specialists.
Law Soc education head defends training reforms
The Law Society's head of education and training Julie Swan has issued a robust defence of its proposals for training reform on the conclusion of the consultation period.
Law Soc launches London bombings helpline
The Law Society is setting up a dedicated pro bono telephone helpline for the victims of the London bombings and their families.
Law Soc slammed again over complaints handling
The Law Society has yet again come under fire over its complaints handling after the Legal Services Complaints Commissioner published her first annual report.
Lovells scoops $8bn SABMiller merger
Lovells’ M&A team scooped its largest deal of the year advising SABMiller on its $8bn merger with Columbia’s Grupo Empresarial Bavaria from the Santo Domingo Group.
Luvvies' lay-ons
Mrs Tulkinghorn and the wives of the Lovells lawyers who worked on the recent Sanctuary deal, when private equity house HG Capital injected more equity into the business, were treated to a day out at the luxury spa. Lucky ladies.
Mance moves to Law Lords; four promoted to the Court of Appeal
The Prime Minister’s office has announced the promotion of four judges to the Court of Appeal and one to the Law Lords.The appointments to the Court of Appeal are Mrs Justice Hallett, Mr Justice Moses, Mr Justice Richards and Mr Justice Wilson.Meanwhile, Lord Justice Mance has been promoted to a Lord of Appeal in Ordinary.Wilson J is a Judge of the High Court of Justice, Family Division. Hallett J, Moses J and Richards J reside in the Queen’s Bench Division.
Marriott Harrison to lead SME fund panel
DMH Stallard, Marriott Harrison and Rosenblatt have all secured places on the panel for a new government-sponsored operation to provide funding for small and medium-sized enterprises (SMEs).
Motivation's what you need
Finding out what makes each staff memmber tick is key to getting the best out of them. By Nigel Cover
North South divide at Addleshaws
Addleshaw Goddard's move to place its new equity partners on the same number of points, regardless of whether they live in Chelsea or Churwell (it's near Leeds, in case you wondered), has startled a few rivals.
Norton Rose takes Lovells derivatives head
Norton Rose is making the first attempts to plug the gap left by the move of four securities partners to Baker & McKenzie (B&M) with the hire of Lovells partner Laurence Garside.
NZ firm appoints IBA chair as CEO
New Zealand law firm Bell Gully has recruited the chairman of the International Bar Association’s (IBA) law firm management committee as its new chief executive.
Olswang hires turn focus on Reading
Olswang hires turn focus on Reading" /Olswang has vowed to ramp up its Thames Valley office with the hire of its first chief executive and the recruitment of Microsoft UK's key outside counsel.
Opinion
A draw in court, such as the recent Kewell v Lineker battle, is not as rare as you may think…
Pinsents facing £18m action for negligence
Pinsent Masons is on the receiving end of an £18m negligence claim following advice it gave to trustees of a pension fund in 1998.
Pinsents handed major South African PPP deal
Pinsent Masons has won the South African Gauteng Provincial Government as a new client after advising on the largest transportation infrastructure PPP project ever undertaken within South Africa.
Private function
Last year's tsunami has left affected countries' infrastructures in tatters, but there is renewed hope via foreign investment in PPP structures. Hamid Yunis reports
Separated at birth
One would think it's a no-brainer: to not just play for the most successful football club in the UK in the history of football which you have supported all your life, and which is also the current European championship-winning side, but to captain it, earning £100,000 a week for doing so and becoming in the process the most coveted football player in Europe. Not so with Liverpool midfielder Steven Gerrard. Perhaps it's an attempt to bring himself down to earth with a huge slice of reality ...
Silk door reopens to much tougher selection criteria
Following a hiatus of three years, the first batch of 'transparent' silks will be appointed under new rigorous selection criteria in 2006.
Simmons sees Telefónica through purchase of China Netcom Group
Simmons & Simmons has closed its first deal for Telefónica as the acquisitive Spanish telecoms operator made its first steps into China.
Sullivan, Skadden stars top European rainmaker table
Skadden stars top European rainmaker table" /Corporate partners from Sullivan & Cromwell, Skad-den Arps Slate Meagher & Flom and Chiomenti Studio Legale have emerged as the top European rainmakers.
Taylor Wessing senior partner gives up post
Taylor Wessing's longstanding UK senior partner Richard Marsh is to stand down after seven years in the role. Marsh will return to full-time fee-earning as head of the firm's commercial disputes and insolvency group.
The PPP push
The introduction of PPPs into Central and Eastern Europe has been a hard slog, but some projects are promising a light at the end of the tunnel. Andrew Briggs investigates
The stakes are sly
The senior management at Reynolds Porter Chamberlain (RPC) has categorically denied that it ran a sweepstake on which unsuccessful partnership candidates would leave the firm.
The work-life quiz
David Hutton, head of built environment, Bevan Brittan
Threadneedle legal head jumps ship to BGI
Threadneedle Investments has lost its legal chief to the asset management arm of Barclays Bank.
Timing is money
Funding competitions in PFI projects could reduce costs and increase efficiency. But care is needed. By Nick Avery
US national firms under threat as big-paying NY elite eye partners
Gibson Dunn & Crutcher tops national firms' PEP figures as multi-office running costs hit financial performance
Woolf cagey as plans for diversity revealed
The Lord Chancellor, Lord Falconer last week announced his long-awaited plans to increase judicial diversity, prompting a cautious response from the Lord Chief Justice, Lord Woolf.
