2 February 2004
Clifford Chance partners braced for 15 per cent profit slide as City firms post flat half-year revenues
Users of the Technology and Construction Court may seek an alternative forum. By Steve Hoare
Akin Gump Strauss Hauer & Feld has scooped its first corporate instruction from FLAG Telecom Group, which came out of Chapter 11 bankruptcy proceedings in October 2002.
Washington’s Arnold & Porter is following the trend set by its New York counterparts by converting to a limited liability partnership (LLP).
Legal renaissance man Michael Beloff QC has added yet another string to his bow after being appointed ethics commissioner and chair of the ethics advisory group for London 2012 Ltd, the company running Britain’s Olympic bid.
Berwin Leighton Paisner (BLP) is further ramping up its finance department with the hire of finance partner Michael Ewart from Richards Butler. It is the fifth partner hire for the finance department in the past year.
Boodle Hatfield has completed a major overhaul of its senior management after reorganising the firm to return to its core practice areas in real estate, tax and financial planning. Property head Richard Maughan will replace managing partner Chris Putt, who will continue to head corporate. The 280-year-old practice has also appointed a new chief executive in Nick Temple, formerly a senior partner with Andersen, where he was worldwide managing partner for technology risk consulting. The ...
Clifford Chance has affirmed its relationship with the Loan Market Association (LMA) with the launch of the association’s new leveraged finance standard document last week. The firm is also set to advise on a new standard document on distressed ...
Clyde & Co’s burgeoning aviation and aerospace group has been further consolidated with the imminent arrival of a team from CMS Cameron McKenna’s aviation group. Further lawyers are also joining from Clifford Chance and Shadbolt & Co.
After Tulkinghorn’s recent mention of a certain insolvency practitioner who stood up on stage at a sex bar in Spain to be fellated by a dwarf, the insolvency profession seems to have sobered up. A recent talent night hosted by the insolvency professional association R3 is a case in point.
A construction worker who was subjected to “grotesquely offensive” racial abuse won a landmark ruling in the Court of Appeal last week, that opens the way for victims of discrimination to claim compensation for the losses whether ’reasonably foreseeable’ or not.
Fallout from the Australian arm of KLegal has begun with departures from both KPMG and KPMG Legal to Australian firm Corrs Chambers Westgarth.
Criminal defence lawyers accused the government's latest cost cutting measures, which ministers claim will save up to £19 million from the legal aid budget, of failing to add up this week.
It was better for the courts to send people to jail for crimes they didn't commit rather than have the sanctity of the jury room breached.
Davenport Lyons has nabbed corporate partner and former Citibank general counsel Jonathan Lass from US firm Cozen O’Connor. Lass’s experience includes a spell in-house at Citibank, where he was general counsel for the UK and Europe, with responsibility for English law matters worldwide. He handles M&A work for companies in the financial services, manufacturing, retail, chemical, gaming and leisure ...
Former Pinsents partner Patrick Walsh has joined the corporate group of Reading firm Boyes Turner. Walsh was formerly a partner in the London office of Biddle, which merged with Pinsents in 2001. He was reported to have retired from Pinsents together with former Biddle partners David Biddle and Peter Watson. He acts for a wide range of clients. His appointment brings the number of partners at Boyes ...
Field Fisher Waterhouse is poised to add Spanish and Italian firms to its European legal alliance. Spain’s Jimenez de Parga and Italy’s La Scala & Associati will be voted in by alliance members this week. La Scala has offices in Mantova, Milan, Padua, Turin, Verona and Vicenza; Jiminez has offices in Barcelona, Madrid and Valencia. First revealed on www.thelawyer.com 28 January
Italian software company Finmatica is set to appoint its second set of new lawyers since the launch of a formal investigation into the company by Italian authorities.
It was an eventful 2003 for Newcastle’s Gibson & Co. In just a year the 300-year-old firm grew from four partners to six with the hire of two Allen & Overy (A&O) litigators.
In our attempt to have a bit of innocent fun with anagrams, we got our facts wrong about Anthony Julius, Mishcon de Reya and the Diana Princess of Wales Memorial Fund (Tulkinghorn, 19 January 2004).
Freshfields Bruckhaus Deringer has cut its end of year bonuses for German senior associates. Sources at the firm say that the move was a response to changes in senior associate salary levels at rival law firms.
Maples and Calder’s former London managing partner has rejoined her former colleagues from Sidley Austin Brown & Wood after jumping ship to Gide Loyrette Nouel’s UK office.
Spain’s Garrigues and its Portuguese best friend Leóidas Matos & Associados are launching an alliance with a trio Latin American firms.
Gleiss Lutz has advised French gas giant Air Liquide for the first time following conflicts at Freshfields Bruckhaus Deringer and Hengeler Mueller. Gleiss referred the small UK aspect of the deal to best friend Herbert Smith.
Here's a curious thing.
Law firms’ PI practices are fighting a tempestuous market and the legacy of the claims managers. Brendan Malkin investigates the flipside of the PI market
Haarmann Hemmelrath has completed a major internal reorganisation, overhauling its profits distribution system and partnership structure.
Haarmann Hemmelrath has split with its former head of corporate recovery and insolvency following a “difference of opinion” over a reorganisation of the department.
Halliwell Landau managing partner Paul Thomas has stood down and been replaced by commercial litigation head Ian Austin following contested management elections.
Which clued-up receptionist at Shearman & Sterling’s London office really needs to check the partner list after enquiring “Ken who?” in response to a Lawyer journalist’s request to talk to Kenneth Macritchie?
The unravelling of the Enron debacle has stepped up a gear, with Herbert Smith scoring a major court victory over White & Case.
Hextalls has taken on Druces & Atlee partner Stephen Kingsley to head commercial property. The firm has not previously had a property head in London, with partner John Castle running the department out of Sussex. The hire shows the firm’s intent to bolster property. Hextalls senior partner Paul Connolly said: “Our commercial property department will grow significantly in the next 12 months.” Emma Vere-Jones
Tulkinghorn could hardly contain himself the other day when he learned that DLA was hiding its light under a bushel. To be more accurate, the head of the firm’s technology, media and communications group in its Sheffield office, Richard Taylor, is the modest party.
The legal bill for the Hutton Inquiry will cost taxpayers £2m, final accounts expected to be released by the inquiry this month will reveal.
Insolvency practitioners (IPs) have been rendered helpless on the issue of what to do with a bankrupt company’s assets as a ruling stating that the money should go to the Government has been sent to the Court of Appeal.
The amount of criticism aimed at PI means practitioners need to move with the times, argues Fraser Whitehead
Japan’s Asahi Koma Law Office has lost its second corporate partner in just three months, this time to Freshfields Bruckhaus Deringer.
When FLAG’s Kees van Ophem arrived at the telecoms company things were looking rosy. Post-downturn, the legal team has had to fight to reconnect the business. Husnara Begum reports
A mystery that for months has affected Upper and Middle Temple may at last have been solved.
Kirkland & Ellis is giving up half a million dollars in fees as it prepares to answer searing criticism over its role on the Fleming Companies bankruptcy by the chief bankruptcy judge in Delaware.
US firm Kirkpatrick & Lockhart has swooped for MediaLive International’s secretary and general counsel Jeryl Bowers. He joins the Los Angeles office of Kirkpatrick, which now numbers 18 partners and 17 associates. Bowers will focus on securities, M&A and other corporate matters. During his spell at MediaLive, he helped establish the company’s corporate governance structure and handled all legal issues. First revealed on www.thelawyer.com 28 January
KLegal International announced last Friday (30 January) that it would disband its legal alliance despite its chief executive’s attempts to preserve a formal network.
Latham & Watkins has continued the aggressive expansion of its technology practice by poaching Cooley Godward partner and outsourcing head Daniel Mummery.
The top law schools in the UK are failing to offer their students the chance to do pro bono work.
Maltese lawyers have won a major victory in the ongoing Parmalat investigation by reversing an order by the food giant’s special administrator Enrico Bondi not to disclose audits into the company.
Hollinger International’s financial adviser Lazard has told bidders that it will not underwrite legal fees on the auction of The Telegraph, despite the fact that the deal is a risky prospect. Many of the bidders are now trying to pass some of the cost on to their external legal advisers.
So, did Hutton get the law wrong? Greg Dyke thinks so. In an interview on The Today Programme last Friday (30 January), he said: “I don’t accept all the report. Our legal team were all very surprised by the nature of the report.” Hutton was “quite clearly wrong” on some points of law, Dyke later added.
The funding of multiparty clinical negligence actions can be anything but fair, says Adam Korn
Appeal judges were reconsidering the scope of legal advice privilege this week, following the fall out from last year's Three Rivers litigation.
Highly rated Linklaters partner Andrew Legg has quit for Mayer Brown Rowe & Maw after over 20 years at the magic circle firm.
The bad times of Claims Direct and TAG are still fresh in the memory, but as Keith Miles argues, PI lawyers are positive about what the future holds
Lovells has strengthened its relationship with CIBC World Markets after scooping its first European-based acquisition finance deal for the bank.
Manchester United lawyer Maurice Watkins has denied allegations of potential conflicts of interest and poor corporate governance.
Norton Rose has added another German fund to its real estate client list, advising Hamburg-based Muenchmeyer Petersen Capital (MPC) on its acquisition of 88 Wood Street from Japanese owner Daiwa.
David Bedford, the former 10,000m world record-holder, is considering suing The Number for unauthorised use of his image, despite the refusal of courts to recognise image rights.
Dewey, Debevoise, Simpson Thacher move to fixed currency rates for London
The better-off could be forced to pay higher fines than the less well-off for the same offence, under plans revealed last week by Lord Falconer, the constitutional affairs secretary.
Recent changes in accounting standards are likely to hit the cashflows of many law firms. Unless they take action, some practices could face severe financial difficulties. The problem is that many partners are going to face a one-off additional tax charge and will have to find ways to fund this. At the very least, these developments will affect the way firms do business and the relationships ...
The European Commission is set to provide €6.65m (£4.6m) to Panama over the next four and a half years to help the country rebuild its judicial system.
Parmalat has dramatically ditched its leading counsel William Trower QC for its Cayman Islands spat with Ernst & Young (E&Y), replacing him with the UK’s number one insolvency barrister Gabriel Moss QC.
The senior vice-president and general counsel of Anglo-Dutch consumer goods giant Reckitt Benckiser has quit after just one year in the post.
The UK general counsel of SchlumbergerSema James Loughrey has scooped the top UK legal role at Atos Origin after Atos completed its acquisition of the IT services company.
2003 sounded the death knell for a host of in-house lawyers, but as Husnara Begum reports, many say it’s business as usual
Here is the news. Ashurst Morris Crisp has not only jettisoned its famous name in favour of the internationally friendly but frankly ridiculous Ashurst, it is also hiring BBC journalists to run its support functions. Michael Buerk (aka Peter Griffith) is the latest recruit. The twinkly-eyed newsreader, best known for his report on the 1980s Ethiopian famine which sparked Live Aid, is head of ...
Shepherd + Wedderburn has boosted its London corporate practice with a new addition from Barlow Lyde & Gilbert (BLG).
An imminent tax increase facing law firms may have less of an effect than had first been believed. The tax changes were introduced by a clarification statement on accounting standards which have the effect of valuing work in progress (WIP) at selling price rather than cost.
The Technology and Construction Bar Association (TECBAR) is preparing to lobby the senior judiciary to review the conduct of Judge Richard Seymour QC, the controversial figure at the centre of the Co-op-ICL storm.
How should Saddam Hussein be tried? Jon Robins talks to the key legal opinion-formers
Fried Frank Harris Shriver & Jacobson (Karen Wiedemann) and Ashurst (Katy Brown) acted for Goldman Sachs equity fund GS Capital Partners 2000 on its £15.4m acquisition of Gains International, a subsidiary of Tullets. Berwin Leighton Paisner (Louise Workman) advised Tullets.
Skadden Arps Slate Meagher & Flom’s European head has been promoted to chairman of Chelsea Football Club’s parent company Chelsea Village.
Last Tuesday saw a climactic soccer battle between Tulkinghorn’s braves and a team of hardened Richards Butler lawyers. No prisoners were taken, no quarter was given, although the lawyers did pass around the sandwiches in the pub afterwards.
Zimbabwe’s only independent daily newspaper The Daily News is back on the streets after a three-month hiatus, following a campaign by African and UK lawyers.
Families of the British victims of the 9-11 disaster will finally get a chance to seek compensation when the UK hearing kicks off on Thursday, in what is believed to be the first UK civil case presided over by a US judge.
Ernst & Young-associated US firm McKee Nelson has made another swoop on a rival for laterals, this time taking two securitisation partners from Weil Gotshal & Manges.
Company secretary and head of legal at West Ham United FC Scott Duxbury has accepted an invitation to join the board at the first division club. The appointment confirms the growing influence of law in football. He joined in June 2001 after a spell working with Manchester United director Maurice Watkins, advising the club, the FA Premier League, Uefa and Fifa. Duxbury joins the board of directors of West Ham United Football Club, West Ham United Sportswear and West Ham United Hospitality ...
US firm Kirkpatrick & Lockhart has written a sensational report that paves the way for WorldCom to sue its auditors KPMG.