19 May 2008
The Lawyer
£13.4m Switalski claim upheld; F&C to appeal
The challenge against the ex F&C Asset Management legal chief's multi-million pound discrimination claim has failed.
2Birds’ Fielder called in to advise on management buyout of GRS Group
Bird & Bird corporate partner Simon Fielder has landed an advisory role in the MBO of international recruitment consultant GRS Group, having previously acted for its new chief executive Ken Brotherston.
A Swit of a palaver
A Swit of a palaver23-May-2008When the news contains a legal chief, a venerable City institution managing £102bn of assets and what could be the largest sex discrimination payout in British history, the story just writes itself.
A&O loses Spanish competition duo to Roca Junyent
Allen & Overy (A&O) has lost the bulk of its Spanish competition team after counsel Pedro Callol and associate Jorge Manzarbeitia left to join Roca Junyent.
A&O partner sets up IP boutique
An Allen & Overy (A&O) IP and commercial partner in Hamburg has set up his own boutique practice, taking three associates with him.
A&O settles Jewish discrimination dispute
Allen & Overy (A&O) has settled a discrimination suit with former employee Norman Schoenfeld in New York, who claimed he had been fired for observing Jewish holidays.
Alan Williams: Buss Murton
Buss Murton senior partner Alan Williams readily admits that the traditional private client firm needs an image overhaul. “We need to change perceptions of the firm,” he says.
All change at the top of NY’s elite
Just like buses, you wait months for a new managing partner, then a bunch come along at once
Allen & Overy, Ashurst scoop roles on Imperial Tobacco rights issue
Allen & Overy (A&O) and Ashurst have guided Imperial Tobacco through its £4.9bn rights issue, which was announced today.
Appeal Court upholds EAT’s burden of proof decision
The court of Appeal has upheld an Employment Appeal Tribunal ruling that reversal of burden of proof should not apply to victimisation claimants under the Race Relations Act (RRA).
Ashurst bolsters Frankfurt with White & Case hire
Ashurst bolsters Frankfurt with White & Case hire" /Ashurst’s Frankfurt office has hired White & Case local acquisition finance partner Anne Force.
Ashurst moves into Shearman’s building
Shearman & Sterling’s London office is to sublet half a floor to Ashurst. Ashurst will move around 50 staff across the road to Shearman’s Broadgate West offices on Appold Street in June. The sub-lease was signed in August 2007.
Associates wait for payday – but magic circle bonus levels are anyone’s guess
The magic circle has completed this year’s conservative round of salary reviews, and bonus announcements will soon be winging their way to associates’ desks.
Beachcroft unveils disappointing results
Beachcroft has revealed its year-end results, showing turnover up just 2.5 per cent on last year to £114m.
Board focus
The Legal Services Board's first chairman David Edmonds believes he has the experience to provide his organisation with world-class credibility
Camerons chief unveils new ‘matrix’
Duncan Weston marked the start of his reign as managing partner of CMS Cameron McKenna by setting out a new businessled approach in a five-day leadership conference at the IMD Business School in Lausanne, Switzerland. Weston, who has a degree in business from IMD, is known to place a strong emphasis on detailed financial management.
Class Actions
Collective redress, group litigation orders (GLOs)… however it is dressed up, it amounts to the same thing: class action. And it is an arena taking the legal profession by storm.
Class conscious
One of the areas most likely to see the introduction of new forms of collective claim is the field of antitrust damages claims. On 2 April the European Commission published a white paper setting out concrete proposals to make antitrust damages claims easier to bring. The Office of Fair Trading (OFT) also published its own recommendations to the UK Government on this topic at the end of last year. An important part of both proposals are changes designed to introduce more effective forms ...
Cleary leads the way aboard the bank capital-raising bandwagon
If US-style equity offerings cross the Pond the magic circle will be ready.
Clifford Chance leads on $1.15bn Kuwaiti LSE float
Clifford Chance has snared a lead role on a $1.15bn (£580m) Kuwaiti listing on the London Stock Exchange.
Clifford Chance re-elects Amsterdam chief
Clifford Chance has re-elected Jan ter Haar as managing partner of its Amsterdam office, confirming his second three-year term in the role.
Clifford Chance taps Thacher Proffitt for US banking hire
Clifford Chance has hired a securitisation partner from Thacher Proffitt & Wood to beef up its US financial products practice.
Clinical Negligence
Clinical negligence is an emotive subject.
Clydes smashes through £150m turnover barrier
Clyde & Co has cracked the £150m turnover benchmark, reporting a 17 per cent turnover increase to £157m, from £130m a year ago.
CMS Cameron McKenna PEP up 30 per cent
CMS Cameron McKenna’s average profit per equity partner (PEP) has rocketed by 30 per cent, to £650,000 from £502,000 a year ago.
Cobham institutes legal chief role with Corus hire
Aerospace company Cobham has hired former Corus UK in-house legal counsel Eleanor Evans, creating the new role of chief legal officer. Evans said she would be meeting with Cobham’s external firms over the coming weeks to create new relationships. Allen & ...
Collective thinking
The UK litigation risk transfer and litigation insurance markets may be accelerating, but for more collective actions to be viable lawyers need to be prepared to reassess their comfort zones.
Companies should obey the law in lawless lands
In the gallons of ink spilled in the debates over business and human rights, one assumption has remained uncontested: companies should obey the laws in the jurisdictions in which they operate. In the words of the International Chamber of Commerce: “All companies are expected to obey the law, even if it is not enforced, and to respect the principles of relevant international instruments where national law is absent.”
Cravath, Paul Weiss advise in $9.25bn media deal
US firms Cravath Swaine & Moore and Paul Weiss Rifkind Wharton & Garrison snared lead roles on Time Warner’s $9.25bn spin off of its cable television operations.Long standing advisers Cravath advised Time Warner on the deal, which will see the...
Dentons’ 6 per cent turnover hike outstripped by City rivals’
Denton Wilde Sapte’s financial results revealed a sluggish performance compared with its large City peers', as revenue grew by a disappointing 6 per cent to £164.4m.
Dickson Minto rules out Willkie Farr merger
Dickson Minto has scotched Willkie Farr & Gallagher’s plans to build a transatlantic private equity powerhouse. The Anglo-Scottish firm ruled out a merger, vowing to stay independent.
Directors: stopgap or viable alternative?
A drive to improve profitability led Cobbetts to reform the partnership structure last year, abolishing the role of salaried partner while tightening the equity.
Dundas & Wilson in landmark High Court pension win
The London office of Dundas & Wilson has won a High Court victory for the Pension Protection Fund (PPF) that will have wide-reaching implications for thousands of pensioners in insolvent companies.
DWF scraps new office plans due to credit crunch
DWF has put its expansion plans on hold, with the economic climate making office openings too costly.
Edwards Angell launches Euro patent team
US firm Edwards Angell Palmer & Dodge has launched a European patent prosecution practice in London just months after merging with UK firm Kendall Freeman.
Eversheds on a par with national competitors
National firms Eversheds, Pinsent Masons and Wragge & Co have all posted revenue rises of between 10 and 11.5 per cent.
FFW trounces target with 30 per cent turnover jump
FIELD Fisher Waterhouse (FFW) has smashed through its three -year turnover target, posting a 30 per cent revenue hike to hit £88m.
Firms wired up for Irish broadband sale
Irish firm Matheson Ormsby Prentice and William Fry are representing NTR and Kilsaran Concrete on the sale of Irish Broadband to Imagine Communications for €47m (£37.35m).
Fladgate snares Halliwells corporate head
Fladgate Fielder has poached Halliwells corporate chief Julian Lewis to boost its M&A team in London.
Former Hammonds senior partner Richard Burns dies
Hammonds former senior partner Richard Burns has passed away at age 49.
Freshfields elects new finance joint chief
Freshfields Bruckhaus Deringer has elected Alan Newton as its new joint practice group leader (PGL) of global finance.
Gibson Dunn launches Singapore base
Los Angeles-based Gibson Dunn & Crutcher has moved to fill one of the gaps in its international network by opening an office in Singapore.
Gift aid
Organ donation is in the spotlight as the effects of the Human Tissue Act start to appear. Julie Austin reports on how the law has changed since the Nationwide Retained Organs Group litigation
Gobbledy cooks
Tulkinghorn is surprised that some lawyers out there still persist in cooking their own food, despite earning salaries that would shame a medieval baron.
Harbottle & Lewis tax chief elected managing partner
Media and entertainment firm Harbottle & Lewis has appointed a new managing partner, with tax partner Glen Atchison taking over from Lawrence Abramson.
Herbert Smith lays down the gauntlet
Looks like Herbies got in first for a reason. It’s usually the earliest to declare its results simply because its financial year ends in March. But this year, I reckon it was on a mission - to dispel the notion that it had dropped off the pace. With PEP over a million for a first time, it’s thrown down the gauntlet to Ashurst.
Herbies unveils new computer system for workload planning
Herbert Smith is rolling out a bespoke computer system designed to ensure that work is efficiently allocated between teams.
High-profile mandates hike Osborne’s revenue
Osborne Clarke’s turnover growth of 15 per cent to £95m from £82.8m the previous year was underpinned by a series of high -profile deals.
Howard Kennedy launches family practice
Howard Kennedy has raided Goodman Derrick for two partners to launch a family practice.
Irwin Mitchell bolsters corporate team with swoop for Howard Kennedy partner
Irwin Mitchell h a s poached Howard Kennedy corporate partner Andrew Woolf.
Judges strut their stuff in designer robes
Judges are to receive new robes designed by a high street fashion designer.
Judges throw out rogue appeal over SRA compensation ruling
The Law Society’s regulatory arm has managed to stave off a High Court challenge by Edward Ellis, the name partner of Folkestone based firm Ellis & Jessup.
Kennedys promotes six to partnership
Kennedys has made up six associates to partner, twice the number made up last year.
Latham names new finance chief
Latham & Watkins has today (Thursday 22 May) announced the appointment of David Heller as the new global chair of the firm’s finance department.
Law firm salary reviews: a bit of an anticlimax
This year’s first round of associate salary reviews has been an all-round disappointment. Although there were several pay-freezes and a couple of modest increases, unlike during the previous downturn there have been no cuts, as this year firms have been buffered by strong financials carrying through from the first half-year.
Law Society under fire for miners stance
Law Society chief executive Des Hudson has been called as a key witness to defend his body’s decision to award £350,000 to miners amid claims that the regulator has a conflict of interest and should not be judging any of the firms involved in the saga.
Littleton’s turnover up by a fifth
Littleton Chambers has recorded a 20 per cent growth in turnover in the last year, allowing the set to capture four barristers from Cloisters, including its latest recruit Martin Palmer.
Local govt lawyers bid for increased prominence
Solicitors in Local Government (SLG) will be “the first port of call” on local government legal issues, the organisation’s new chair has vowed.
London Legal walk raises £310k for advice centres
More than 3,500 lawyers turned out at the Royal Courts of Justice yesterday for the fourth annual London Legal Support Trust sponsored walk.
Lovells bags new firm for Sino-Global Alliance
The Lovells-backed Sino-Global Legal Alliance (SGLA) has added another Chinese firm, with Chengdu’s Tahota Law Firm due to come on board in July.
Lovells matches magic circle with NQ salaries
Lovells has increased salaries for newly qualified associates by 2.3 per cent to £65,000, up from £63,500 last year.
Maclay Murray promotes four to partner
Scottish firm Maclay Murray & Spens has made up four to the partnership, with half the promotions taking place in its London office.
Marketing Booth
Call him old-fashioned, but Tulkinghorn would not give the title of ‘lawyer’ to everyone. He would restrict it to people who are lawyers. But the former ‘first lady of Downing Street’ and current lawyer Cherie Booth QC appears to diverge from Tulkinghorn’s opinion. In a recent speech to business development (BD) and marketing staff of law firms, she told the gathering “you’re lawyers too”.
MoFo Tokyo signs up IP bengoshi
Morrison & Foerster (MoFo) has hired IP bengoshi Yukihiro Terazawa to bolster its Japanese practice with joint venture partner Ito & Mitomi.
Morgan Cole evicts Raymond Blanc cybersquatters
Thames Valley firm Morgan Cole has cooked up a win for respected chef Raymond Blanc against a group of Caribbean cybersquatters.
Northern Rock: The Rocky road to ruin
The legal profession’s finest are warming up for a conflict between angry shareholders in Northern Rock and the Government in which the finer points of insolvency law will be the battleground
Norton Rose retains chief in snap election
Norton Rose has re-elected Peter Martyr as its chief executive after bringing forward its election for the post by six months. Martyr will stay on for another three-year term from 1 January 2009 after an uncontested election aimed at avoiding any infighting during the economic downturn.
Norton Rose set for growth in Middle East
Norton Rose has kickstarted a rapid expansion of its Middle East capabilities with the relocation of London-based projects partner Jonathan Brufal to its Abu Dhabi office.
Olswang pleased with 'comforting' financial results
Olswang has posted an 11.2 per cent increase in revenue over the past year, up to £92.4 million from 83.1m the year before.
Pannone leads way in North West
Pannone has performed best of the North West firms that have released figures, with profit per equity partner (PEP) expected to rise by 15 per cent to £300,000.
Partners beat associates in Slaughter and May cricket slam
Slaughter and May cricket slam" class="inline_image inline_image_left" src="/pictures/web/images/12038_cricket.jpg" /Partners at Slaughter and May have re-asserted their dominance over their junior colleagues at the firm’s annual cricket match.
Paul Finch: Dickinson Dees
What was your worst experience as a trainee? I was threatened with shooting by a convicted poacher after a Salmon and Freshwater Fisheries Act prosecution.
People
•UK- and US-qualified lawyer Aaron Stephens has joined Berwin Leighton Paisner’s London office as a senior associate from DLA Piper.
Personal injury
In May 2007, the Ministry of Justice (MoJ) published a set of proposals aimed at radically overhauling the UK's personal injury (PI) system. It aimed to introduce a raft of measures designed to speed up the process with the aim of cutting costs and improving access to justice for both claimants and defendants.
Quinn Emanuel hires Bingham silk for London push
Quinn Emanuel Urquhart Oliver & Hedges has landed a further high-profile hire for its nascent London office in the shape of Sue Prevezer QC.
Rivals ready to swoop for Bevan Brittan redundancies
Bevan Brittan redundancies" /The sharks are circling Bevan Brittan. News this week of up to 40 redundancies (TheLawyer.com,13 May) at the Bristol-headquartered firm has sparked a feeding frenzy among local competitors.
Scotland makes ‘historic decision’ in favour of ABSs
Solicitors in Scotland have voted in favour of the introduction of alternative business structures (ABS), paving the way for a level playing field between the legal markets in Scotland and England and Wales.
Second tier is out to impress
Unusually, the group of firms below the big five – Ashurst, Herbert Smith, Lovells, Norton Rose and Simmons & Simmons – has already given indications of its financials. This is terribly convenient for us legal market anoraks, since even at this early stage in the reporting cycle we can start to make relatively informed observations.
Second tier is out to impress
Unusually, the group of firms below the big five – Ashurst, Herbert Smith, Lovells, Norton Rose and Simmons & Simmons – has already given indications of its financials.
Separated at birth
Clive Anderson does anything but Talk Back these days. In fact, he's seldom seen talking at all - at least not on television. Clearly not content to while away the years on the radio, the former chat show host has upped sticks to Moscow and conveniently assumed the identity of Bleddyn Phillips, Clifford Chance's recently relocated global head of oil and gas.
Shoosmiths sets up Brum banking team
Shoosmiths is set to launch a banking finance team in its Birmingham office after hiring Helen Wilson from Geldards as a partner.
Simmons takes ship designer to AIM
Simmons & Simmons has advised German ship designer TGE Marine AG on its entry to AIM in one of the largest flotations on the alternative market this year.
Slap-up party
Few stories have quite the same frisson of irony as the following vignette picked up by one of Tulkinghorn's spies in the legal community.
Slaughters best friend elects new management
Slaughter & May's German best friend, Hengeler Mueller, has shaken up its management committee with the election of two new managing partners.
Speechly exceeds expectations with 18 per cent rise in turnover
Speechly Bircham has exceeded its budget expectations to report an 18 per cent turnover growth for 2007-08 of £47.2m.
The Apprentice analysed...
Each week we watch as Sir Alan Sugar yells 'YOU'RE FIRED!' at one of The Apprentice wannabes.
The bigger the better
Our favourite stateside rumour last week featured the merger of not two, but three US top 100 firms. The first won't surprise anybody: Heller Ehrman. As one of the few firms to show falls in revenue and profit last year, it has been at the centre of merger rumours for months. The continuing drip of exiting partners (last week saw another former New York managing partner, Richard Martin, bail out in favour of
The Indian rupee trick
In the UK associates are really going through tough times this year, with most getting 'only' single-digit percentage salary increases.
The smile council
KCC Legal, the 'in-house private practice' legal team at Kent County Council, has cracked £1m in turnover from external work - interesting reading for more than just local authority lawyers.
The waiting game
The Ministry of Justice keeps delaying its response to proposals to change the personal injury system, causing massive disruption to law firms. Four lawyers from opposing sides share their concerns
Trio lands roles on best buy's EU adventure
Freshfields Bruckhaus Deringer, Osborne Clarke and Simpson Thacher & Bartlett scooped lead roles on Carphone Warehouse’s $1.1bn (£564.47m) alliance with US electronics retailer Best Buy, which ...
Trio of firms seal Russian vodka deal
A trio of US firms have been handed roles as UK private equity house Lion Capital buys Russia’s biggest vodka brand in a deal worth $600m (£303m).
Turnover up 10 per cent at BLP
Berwin Leighton Paisner (BLP) has announced a turnover climb of 10 per cent to £186m from £169m last year.
Tyco adds new demands in second Eversheds deal
Eversheds deal" /TYCO has signed up for the second year of its groundbreaking $10m (£5.14m) deal with Eversheds, with a number of new innovations added to financially reward good performance and diversity achievements.
Ulrik Andersen: Carlsberg
Probably the best takeover in the world? Maybe so, but after overseeing the £7.8bn purchase of UK brewer Scottish & Newcastle, Carlsberg general counsel Ulrik Andersen will be relishing a return to business as usual.
Watson Burton makes up five in Newcastle
North East firm Watson Burton has promoted five to partnerin its Newcastle office.
Weightmans wins housing association advisory role
Weightmans has been appointed as adviser to Liverpool Mutual Homes (LMH) – the largest housing association in the North-West city.
