When it comes to law firm financials we all know that profit per equity partner (PEP) is just one measure of many. But let’s face it – it’s still the most eyecatching. When it comes to law firm financials we all know that profit per equity partner (PEP) is just one measure of many. But […]
Twelve UK firms have top equity partners on more than £1m, up from eight last year as the top end of the market benefits from record transactional levels in 2006-07. The figures are revealed in the publication of The Lawyer UK 200 Annual Report, out on 3 September. The firms are largely a mixture of […]
British Airways (BA), advised by Slaughter and May, yesterday pleaded guilty to price-fixing in the US, admitting to two counts of engaging in conspiracies with other airlines to fix prices of fuel surcharges on passenger and cargo flights. In the US District Court for the District of Columbia in Washington, a judge upheld a $300m […]
Transatlantic giant Mayer Brown Rowe & Maw has become the latest firm to opt for an abbreviated name, rebranding as the shortened Mayer Brown. The rename, effective from 1 September, is to reflect how the firm is commonly referred to by both the market and the firm’s own staff. In a statement, chairman James Holzhauer […]
Simpson Thacher & Bartlett is used to leading the pack when it comes to salary rises. Now it’s doing the same with charge-out rates: the two are not unconnected. The firm has demonstrated a rather elevated view of its partners’ abilities by hiking their charge-out rate to $1,000 (£503) an hour (see story). While this […]
The New York office of Simpson Thacher & Bartlett has increased its charge-out rate for top performing partners to $1,000 an hour. Key partners at the firm, such as head of litigation Barry Ostrager, litigation partner Kevin Arquit and M&A partner Richard Beattie, will now charge clients approximately 10 per cent more than their previously […]
Mayer Brown Rowe & Maw (MBRM) has been hit by yet another claim resulting from the bankruptcy of commodities trader Refco. The $2bn (£1bn) claim names MBRM and 25 other respondents – including Ernst & Young and Bank of America – for their alleged role “in a massive scheme to loot Refco – a scheme […]
In a bolshy move, US law firm Bryan Cave has claimed to be the biggest American outfit in relation to running class actions “day in day out”. Bryan Cave’s Phoenix managing partner Lawrence Scarborough, at a firm seminar today (23 August), said that while there are no official figures on how many class actions take […]
Los Angeles-based entertainment powerhouse Loeb & Loeb has launched a fashion and luxury brand industry group on the back of the proposals of new copyright laws protecting the industry in the US. The move follows last week’s proposal by New York senator Chuck Schumer to pass a bill that would extend copyright law to cover […]
Bookseller Barnes & Noble has raided IBM to appoint Jennifer Daniels to the newly created post of general counsel, vice president and secretary to the board. In her new role, Daniels will be responsible for all legal matters for Barnes & Noble and its subsidiaries, and will also co-ordinate efforts with outside counsel. She is […]
Magic circle firms Clifford Chance and Linklaters have scored another win advising on the sale of £2.84bn of Eurotunnel debt. Clifford Chance has secured the key role advising Deutsche Bank and Goldman Sachs on the sale of debt to Channel Link Enterprises Finance and its subsequent bond issuance. Meanwhile, Linklaters, led by partner Julian Davies, […]
Berwin Leighton Paisner, Jones Day and Nabarro have secured places on the coveted UK general panel of one of Australia’s largest industrial real estate investment trust Goodman International. It is understood that the panel review was conducted to formalise the group’s external adviser relationships following Goodman’s rapid growth in the UK since its entrance into […]