18 June 2001
The Lawyer
$80m (£58m) raised to finance construction of the National Central Cooling Company in Abu Dhabi
Arrangers Citibank, United National Bank of Abu Dhabi, Dubai Islamic Bank and a syndicate of international banks advised by Bryan Cave (Richard de Belder). National Central Cooling Company advised by Allen & Overy.
A breed apart
Despite the Bar Council professing otherwise, employed barristers still feel like second-class citizens. Brendan Malkin asks: can their status drop any lower?
Assembled for change
Since devolution the Welsh nationalists have certainly come into their own, showing a strength of skill that will help the country stand alone. Gareth Chadwick reports
Bond Pearce launches transport unit after shipping specialist hire
Bond Pearce is forming an integrated transport unit following the hire of highly-rated shipping specialist Nick Horton from disbanded marine firm Grant & Horton.
Brokat Technologies signs an agreement with Vodafone Global Commercial Services to combine Brokat's PaymentWorks software technology with Vodafone's leading mobile operator position
Brokat advised by Osborne Clarke (Simon Rendell). Vodafone advised in-house (Lisa Roberts).
Cadwalader gains political capability with triple hire
New York firm Cadwalader Wickersham & Taft is taking on the former national chairman of the Democratic National Committee to chair a new global public affairs group.
Can't stop, won't stop
With a heroic past behind him, Jonathan Horsfall Turner says he is ready for retirement. But he is finding it hard to hang up his boots
Cardinal chief returns to Cloisters
Public law and commercial specialist Philip Engelman has returned to Cloisters after leaving two years ago to establish Cardinal Chambers.
Clifford Chance replaces Asia managing partner
Clifford Chance corporate partner Jim Baird will replace John East as regional managing partner for Asia in mid-July.
County courts fail to live up to Woolf reforms
A scathing report produced by the Property Litigation Association (PLA) has stated that delays faced by property litigators in the county courts are completely incompatible with the Woolf reforms.
Crutes sets up housing law team
As part of its expansion, North East firm Crutes has launched a team specialising in housing law. Paul Forster, a partner in the Carlisle office, will head the team of four partners and 10 support staff spread across the firm's four offices.
Doctor Spin
They promised it would be driven by spin. They promised it would be won and lost on the marketing field. They promised an election driven by style not substance.In the end it wasn't. This was the election with no substance and precious little style - unless Calvin Klein counts as style. The men in black in Blair's backroom who so infamously dictate the form and content of British politics were little in evidence. Aside from some feeble attempts at using text messaging ...
Eversheds' employment dept boosted
Eversheds' Birmingham office is taking on an employment partner from Hammond Suddards Edge.
Fosters merges with Russell Steward in expansion drive
Norwich firm Fosters is merging with local firm Russell Steward to create a 14-partner firm.
Fountain Court rues Goldsmith departure
The departure last week of Lord Peter Goldsmith QC from Fountain Court to become Attorney General represents another significant financial setback to his old magic circle set.
Freshfields throws down IPO gauntlet with Goldman hire
Freshfields Bruckhaus Deringer is going all out for US registered securities offerings by hiring a Goldman Sachs regional head.
GE Capital Global Consumer Finance acquires iGroup, provider of mortgages in the non-conforming sector in the UK, with £1.6bn in assets
GE Capital advised by Weil Gotshal & Manges (Andrew McLean). Institutional sellers advised by Clifford Chance (Matthew Layton). Management advised by Dechert (James Lewis).
Glaxo to review panel
GlaxoSmithKline is carrying out a complete review of its outside law firms and will have a new panel by the end of the year.
Going it alone
Devolution has produced many opportunities for the Welsh legal world, but change is never easy. Tessa Shellens investigates what it will take to overcome the teething problems
Harman's waiting game pays off
Nick Robinson, chief political correspondent of BBC News 24, reveals why Harriet Harman got the Solicitor General job
Henderson Investors acts on behalf of National Provident Life and London Life on the £38m purchase of a retail scheme at Riverside Norwich to be developed by Wensum Developments
Norwich to be developed by Wensum Developments. Henderson advised by CMS Cameron McKenna (Mark Heighton). Wensum advised by McGuinness Finch (Henry Minto).
Innogy drops in-houser after takeover
Innogy Holdings has dispensed with the services of the in-house counsel at Yorkshire Electricity following its acquisition of parent company Yorkshire Power Group.
Irvine takes over running of the HRA
The Lord Chancellor, Lord Irvine has taken over responsibility for a raft of legislation from the Government, including the Human Rights Act (HRA).
Law Society rent forces Euro group into debt
The Law Society has pushed its own European Group into the red after forcing it to pay corporate rates for Chancery Lane room hire, a minimum of £300 per night.
Lawrence Graham partner flees
A top Lawrence Graham partner has resigned and left the country amid allegations of financial wrongdoing.
Leader
The attempt by bondholders to kick Ernst & Young off the Barings liquidation has enormous implications. As The Lawyer went to press, the news came through that the action against the auditors was being adjourned for a week. It marks a high watermark for activist US funds.This is not the first time that the Ernst & Young team, led by Alan Bloom and advised by Slaughter and May, has had to ...
Legal Widow
Following a death match in the garden with an old and very rooty rose, I have destroyed my lower back. The rose, I am glad to report, is in worse shape, although it will probably now take root on the rubbish heap in revenge.Since I have been largely confined to the sofa since Friday, the Lawyer has found himself in the interesting position of having to do my job as well as his own. As his finding skills register zero on the Domestic Survivor Scale, I'm careful to keep the remote ...
Linklaters and Eversheds finalise the sale of Berkeley Square Estate
Linklaters & Alliance and Eversheds have exchanged contracts on the sale of Mayfair's famous Berkeley Square Estate for an estimated £325m just five days after the original buyer pulled out of the deal.Contracts were exchanged a fortnight ago (4 June) for the 10-acre estate.Eversheds property partner Richard ...
Mace & Jones hires tribunal chairman
Liverpool and Manchester firm Mace & Jones has recruited a former Employment Tribunal chairman to its employment law team.
Malaysia set to welcome foreign firms
Malaysia could be the next Asian country to liberalise its legal market. The government is considering lifting restrictions, allowing foreign firms to enter into joint ventures with local counterparts.
McGrigor Donald records record growth in turnover
McGrigor Donald has announced a record turnover for last year, bringing in a total of £36.6m. This figure is almost a third up on the previous year's total of £27.25m.
Milbank hires two partners to boost LA and DC offices
New York giant Milbank Tweed Hadley & McCloy is hiring two new partners to ramp up its presences in Los Angeles and Washington DC.
Morton Fisher to give advice to loyal Kidderminster FC fans
Morton Fisher is to provide legal advice to around 1,000 season ticket holders of Kidderminster Harriers Football Club in an innovative legal arrangement.
MP3 bought by Vivendi Universal for £259m
MP3 advised by Latham & Watkins (Scott Wolfe). Vivendi advised by Cravath Swaine & Moore (Faiza Saeed).
News in brief
2 Gray's Inn Square Chambers head has moved to personal injury and employment set 9 Gough Square. Giles Eyre aims to concentrate on his personal practice and takes Mark Whalan and Susan Baldock with him. Keith Knight has taken over as head of 2 Gray's Inn. The chambers has also hired John Parker, James Holmes-Milner, Delyth Evans and Philip McCormack from Michael Fitzgerald QC's 2 Mitre Court Buildings. They have a range of family, civil and employment expertise. 2 Gray's Inn chambers ...
No place like home
The effects of devolution on the Welsh bar has been more limited than in other areas. Ronan Hughes reports on the battle to keep work from the clutches of the London sets
Norwich Property Trust buys Pinehurst Park in Farnborough for £16m from Pinehurst Park Limited, a subsidiary of a joint venture between Miller Developments and the Bank of Scotland
Norwich Property Trust represented by CGNU in-house legal team. Pinehurst Park represented by Addleshaw Booth & Co (Adrian Collins)
Opinion
Clients see the main impact of e-technology on the provision of legal services as being concerned with working smarter: improving the quality, speed and general targeting of the use of legal time. For lawyers, it is about removing the routine drudgery and allowing them to concentrate on the legal aspects of work.Management of client relationships and deal-doing are the two key aspects of current IT developments in the law. E-technology has a role not just in the general marketing ...
Orb Securities, holding company of Orb Estates, gets £72m facility from Morgan Stanley Dean Witter to refinance part of its commercial property portfolio
Orb represented by Fladgate Fielder (Nicolas Greenstone, Antonia Brandes). Morgan Stanley represented by Denton Wilde Sapte.
Oxford University spinout company Novarc gets £1.3m equity investment from Beeson Gregory
Novarc advised by Brobeck Hale and Dorr (Kate Eavis). Beeson Gregory advised by Masons.
Paycuts and culling as Valley firms panic
VLG axes 20 in strategy shift; Gunderson Dettmer first years lose $20,000
Rail regulator plans panel growth
The Office of the Rail Regulator (ORR) has received tenders following its bid to expand its panel.
Right Side Up: Building Brands in the Age of the Organised Consumer
Published by HarperCollins (ISBN 0002571528)
Sequenom and Gemini Genomics agree to merge in a $238m (£172.6m) stock-for-stock exchange
Sequenom advised by Lovells (John Davidson) and Cooley Godward. Gemini advised by Skadden Arps Slate Meagher & Flom (Martha McGarry, Michael Hatchard).
Sonsini to take on NYSE directorship
The chairman of Silicon Valley firm Wilson Sonsini Goodrich & Rosati has been elected as a director of the New York Stock Exchange (NYSE).
Steele & Co
Steele & Co continues to head in the right direction
Stephenson Harwood lands Caerphilly Council PFI work
Caerphilly County Borough Council has joined the public finance initiative (PFI) bandwagon and closed a £48m schools PFI project, the first in the area. After a two-year tender process, the contract to replace Lewis Boys Comprehensive School and Ysgol Gyfun Cwm Rhymni was awarded to Machrie.Stephenson Harwood advised Machrie - a consortium comprising Ballast, the Royal Bank of Scotland ...
The engine room
By working in Government Legal Services, one has the opportunity to participate in the creation of new laws. Kelly Harrison talks to the rail regulator's head of legal about the pressures of keeping the industry on track
Weil Gotshal banking dream turns to dust
London office scrambles to keep Hicks Muse as Burton quits for Ashursts; UK debt capability shattered
Zini & Associates opens in Rome
Zini & Associates, the Italian and US law firm which spun out of Pavia e Ansaldo in January, is opening a new office in Rome this week.
