20 November 2000
One of the great old debates in law firms is the importance of the individual against the team or on a wider scale, the firm as a whole.It is a crucial issue for law firm management, recruitment and marketing. It goes to the root of the provision of legal services and, hence, to the raison d'être of the firm and it forges a strong link between recruitment and marketing. However, it is something few firms either appreciate or make provisions ...
It may come as a surprise to those of you who remain under the impression that all Sweden has to offer is Abba and saunas, but Sweden is at the very forefront of the new economy.
Linklaters in Euro expansion
Ever since the merger between accountants PriceWaterhouse and Coopers & Lybrand in 1998, there has been an increased flux within the insolvency industry, particularly in the accountancy sector. But why has this manifested itself so strongly in recent years, and what effect is this growing instability having on the relationships within the industry as a whole?This year alone has seen the highprofile announcements of mergers between Baker Tilly and Fraser Russell ...
ACG Aktiengesellschaft für Chipkarten und Informationssysteme's acquires Freeway Electronics Group Holdings. Purchaser advised by Garretts. Target advised by Olswang (Fabrizio Carpanini).
Achilles Group receives £12m worth of first-round equity funding from a group of UK utility investors, 3i and IT company SAP. A group of seven utility companies including Powergen and Anglian Water advised by Field Fisher Waterhouse (Nicholas Thompsell). 3i advised by Addleshaw Booth & Co (John Hiscock). SAP advised by Trevor Robinson & Co (Trevor Robinson) and Achilles represented by ...
Airow floats on AIM. Airow advised by Martineau Johnson. Nominated adviser and broker John East & Partners and Insinger Townsley advised by Lewis Silkin (Clare Grayston).
This is the one of five deals completed by Lewis Silkin in October for AIM-listed companies. They are Mondas' acquisition of DSR Holdings, Bizspace's purchase of six properties, the IPO of Technology and Internet Property Services as well as two acquisitions, one disposal and a £2.6m fund raising for Upton and Southern Holdings.
Corporate partner, Michael Liu leads a team of eight lawyers from A&O's Hong Kong office on the deal which sees the exchanges and clearing house consolidated into a single market operator.
He has advised on several high profile mergers and acquisitions and privatisations - such as acting for the DTI on the sale of British Energy - and regularly acts in equity issues. Major corporate and capital markets transactions are also part of his speciality.
Amerada Hess makes £2.4bn bid for UK independent oil company Lasmo. Amerada Hess advised by Goldman Sachs, Freshfields Bruckhaus Deringer (Tim Emmerson) and White & Case (Timothy Goodell). Lasmo represented by Slaughter ...
Ashurst Morris Crisp is setting up an office in Spain as the firm steps up its European expansion programme.
Asticus sells freehold interest in 15 Great Marlborough Street to Royal & SunAlliance for £30.7m. Asticus advised by Denton Wilde Sapte (Stan Gniadkowski). Royal & SunAlliance advised by Maples Teesdale (Mark Bryan).
Whitbread's lawyer, Graham Atkins, an associate with Campbell Hooper, secured damages and an apology from the BBC in an out of court settlement. The action arose after two of the panellists on They Think It's All Over falsely suggested that Whitbread had unnaturally high levels of testosterone in her blood during her career.
David Green, who joins the investment bank in January, is the second partner Baker & McKenzie has lost to a client this year .
Berwin Leighton has advised The Royal Bank of Scotland's (RBS) structured property finance team on its two largest transactions this year and is gearing up for a growing volume of work following its takeover of NatWest.
But just because that is what they say first off, that does not mean that it reflects the true picture.Wired Words by Steve Morris, published by Prentice Hall PTR (ISBN 0273650904)Wired Words does not start well. If you find an introduction that finishes with a slogan such as: "language is the new corporate identity" alarm bells ring, particularly when the book is one of those new business books for the new millennium series with the ...
For Studio Legale Tonucci, one of Italy's largest independent law firms, it is time to sit back, draw breath and consolidate.This year has brought rapid growth for the young ambitious firm, which was founded six years ago when managing partner Mario Tonucci broke away from Gianni Origoni Tonucci.Tonucci has come a long way since then, and has shaken off its image of being a purely Roman entity more vigorously than ever before.
Bristol & West in £300m securitisation of residential mortgage portfolio. Bristol & West and partner company Bank of Ireland represented by Norton Rose (Jonathan Walsh) and lead manager ING Barings represented by Simmons & Simmons (Stephen Moller).
This is the second large securitisation that Jonathan Walsh at Norton Rose has completed for Bristol & West, after winning the client in the summer through a relationship with parent company Bank of Ireland.
Southern Energy (Shajiao C) Ltd, a global energy provider and its subsidiary Consolidated Electric Power Asia, are among the five-strong consortium suing the law firm for the alleged breach of the 1991 contract. Clifford Chance, which has built up a prosperous practice in Hong Kong with 130 lawyers advising Chinese companies, grossed more than £440 million last year and so ...
CMS, the European alliance launched by Cameron McKenna, has at last appointed a new CEO, almost a year after the post became vacant.
DaimlerChrysler UK acquires Lex Autosales for £17.95m from Lex Service. Lex Autosales advised by Berwin Leighton (Jonathon Cane) and Pinsent Curtis (John Edwards). DaimlerChrysler UK represented by Howes Percival (Brandon Ransley).
This is the seventh deal that Northampton firm Howes Percival has acted on for DaimlerChrysler's UK subsidiary during the past two years, and this particular transaction was completed in less than a fortnight. Time was of the essence in this case because the deal had to be closed before 300 Lex Autosales employees were made redundant, an issue on which Howes also advised. As well as cementing Howes' ...
Dechert has closed its private client practice after losing its sole partner in the department to Withers.
Denham joined the set in 1998 following the merger between Priory Chambers and No 7 Fountain Court that created St Philips. He will now take on a CEO role at the London firm.
As Christmas approaches and pester-power reaches a crescendo, the stores are desperately trying to lay their hands on this year's must-have accessory - the new PlayStation.The console has the computing power of a small mainframe, the graphics capability of an IMAX film and a sound system to rival the new Birmingham Symphony Hall. But most importantly, PlayStation 2 has a brand name to die for and a marketing push set to dazzle as it is launched across ...
This is what being a lawyer is all about. In a buoyant economy, firms go big on corporate finance - start-up costs, funding and flotation. And when the bubble bursts, you still get the work, but this time it is the insolvencies.
Media giant EMI is reorganising its legal function with three new appointments to the management.
Anyone scanning the listings for their local multiplex cannot help but notice that Hollywood rules the Western world's screens. In the week of writing this article, nine of the top 10 films showing in the UK were bankrolled by the Americans, including the film portrayed by the media as a British success, Billy Elliott: British story, British actors, but US money from Universal Studios, and therefore US profits. So in 1997 the newly-elected Labour Government decided to help out ...
A sale and leaseback agreement has provided a safe way for people to invest in the film industry over the last few years.As films are unpredictable, investors are reluctant to put money in up front before they have seen the finished product.Once the film is in the can, the producer sells the masterprint to the investors, who then lease it back to the producer over a 15-year stretch. As the success of a film is still very difficult to predict even after it has ...
Canary Wharf in £1bn real estate construction loan facility - the largest ever in the UK. Eurohypo AG London
Fladgate Fielder has appointed its first professional financial analyst following a period of record growth, which saw last year's turnover grow by nearly 26 per cent to £14.1m.
Flemings' general counsel is leaving as the integration of the merchant bank into Chase Manhattan reaches its final stages.Geoffrey Howe, who joined the bank in 1997 after stepping down as senior partner at Clifford Chance, is leaving at the end of the year. He is one of five board directors to depart following the £4bn sale to Chase earlier this year.Howe says: ...
Stephen Stern has left Freehills Melbourne office to set up his own niche trade practices law and intellectual property firm following a disagreement with management over how the IP section was run.
Len Berkowitz, corporate lawyer and head of legal at the Bank of England, is joining Freshfields Bruckhaus Deringer in the new year.
The new service is an independent arm of the national firm and aims to help troubled companies develop and implement turnaround strategies and encourage lenders and creditors to be more co-operative.
Lord Irvine has pledged to introduce legislation to prohibit such chequebook journalism as soon as parliamentary time can be found for it. He cited the case of pop star Gary Glitter who was found not guilty of sexual abuse charges after it emerged that the main prosecution witness, Allison Brown stood to be paid £25,000 by the News of the World if Glitter was convicted. There was a "real risk
A personal injury specialist, Radcliffe spent nearly 40 years with Browne Jacobson and became senior partner in 1990. He resigned and joined Flint Bishop & Barnett in Derby in 1995.
Lord Irvine also warned yesterday that payments made to barristers may be slashed, claiming they are "excessive" compared with those made to other publicly-funded professionals.
Subjudice has been going to acting classes, and the house is like a theatre dressing room as a result. She's projecting her voice all over the place and screwing up her face while huffing out "aeiou" in a stage whisper, and you can't get her to walk anywhere. She'll either limp there or pretend she's in a wheelchair, or that she's a marathon runner flailing about on the last 100 yards. All the friends she dragooned into going with her spend their evenings with us, clapping madly and asking ...
Linklaters & Alliance has pulled off a groundbreaking deal in Lithuania, advising JP Morgan on the first internationally placed public debt issue denominated in the local currency.
Linklaters & Alliance's Madrid office is taking on two partners from Spain's largest law firm Garrigues & Andersen, in a move believed to be the first of its kind.Alvaro Sainz, a leading M&A and corporate specialist with a strong domestic and international client following, will join corporate partners Antonio Sanchez-Pedreno and Miles Curley to develop the corporate practice.
Milbank Tweed Hadley & McCloy's Russian head is moving to Debevoise & Plimpton as the firm presses ahead with the closure of the Moscow office.Holly Nielsen, who joined Milbank in 1997, is moving to Debevoise's Moscow office on 1 December as international counsel, increasing the number of lawyers to seven.Sources says that Milbank will close its Russian ...
About 80 JPs - around 10 per cent of the total in Scotland - will not be allowed to hear cases from today due to fears that their status may be vulnerable to challenge under the European Convention on Human Rights. Only JPs who are also councillors or who are directly appointed by the councils will be affected.
Steuart Howie of Russel & Aitken, Edinburgh, becomes President; Philippe Bedard of Juris Audit International, Paris, Vice President; Chris Mitchell of Cartwrights, Bristol, Secretary and Paul Sillis of Collyer-Bristow, London, as Treasurer.
Pitney Hardin's management committee chairman says the 160-lawyer firm's acquisition of the eight-lawyer practice is the first of a series of expansion plans being considered. The merger comes just months after reported merger discussions between Pitney Hardin and New York's Satterlee Stephens Burke & Burke were called off
This year a first-year qualified lawyer at Milbank Tweed Hadley & McCloy's London office will earn £10,000 more than the Prime Minister.
Nabarro Nathanson pension specialist Peter Ford is moving to Norton Rose with fellow partner Lesley Browning.
Merger talks between Norton Rose and Gaedertz have been thrown into disarray with the German firm's failure to approve the link-up.
NSB Retail Systems launches rights issue to finance its acquisition of Canadian-based STS. NSB advised by CMS Cameron McKenna (Guy Billington). Financial adviser and joint underwriter Close Brothers advised by Ashurst Morris Crisp (Adrian Clark). ING Barings was joint underwriter and broker.
Online company E-exchange collapses. Joint administrators Mazars Neville Russell advised by SJ Berwin (Adam Plainer).
It was fascinating being in New York as the US election debacle became unfolded. One of the interesting elements was the way in which this election has prompted all sorts of questions about the need in the US constitution for an electoral college where each state sends its delegates to elect the president.As we know, the debate has crystallised over how the 25 members, who will represent Florida, will vote at the electoral college. If George W Bush wins the ...
The founder of Orrick Herrington & Sutcliffe's London office is leaving to launch a structured finance practice at Tite & Lewis, the law firm tied to accountants Ernst & Young (E&Y).Tamara Box, who opened the office for US firm Orrick in 1996, will be the first structured finance and securitisation partner in an accountancy-tied law firm.She represents ...
New York boutique firm Pavia & Harcourt is in dispute with its former Italian associate, Pavia e Ansaldo, about the use of the Pavia family name after terminating its 40-year relationship with the firm.
London firm Radcliffes is merging with a seven-partner niche firm with a strong property investment and development practice.
Blenheim Norwest's £140m mixed-use proposal to redevelop central Hounslow wins approval from Government Office for London. Blenheim Norwest advised by Berwin Leighton (Philip Bretherton assisted by Chitra Pullen and Tim Smith).
Wurttembergische Hypothekenbank funds Irish acquisition of Garrard House, London EC2, from Legal & General. The funder advised by Allen & Overy (Carol Hopper and Simon Roberts). Individual Irish investors advised by Gouldens (David Smith and Tom Budd). Legal & General represented by Berwin Leighton.
City firm Richards Butler is promoting its head of commercial disputes to the position of managing partner following the shock resignation of its chief executive.
Lovells has won Equitable Life as a client for the assurer's demutualisation and upcoming sale, edging out long-standing advisers Denton Wilde Sapte.
The temporary sheriffs - recently made redundant following an appeal court ruling that they contravene the European Convention on Human Rights, introduced in Scotland in May - are now being challenged on different grounds.
Legal experts will host regular on-line discussions, legal developments in the UK and the EU will be summarised and legal/ commercial points, such as a checklist for employment contracts, will be highlighted
Slaughter and May is embroiled in a case before the Court of Appeal today (20 November) that could have far-reaching implications for company law.
St John's Chambers in Bristol has drawn up new financial arrangements for its criminal and civil divisions.To help cut costs, the criminal barristers have been moved to another building and will hot-desk to save on office space.In return, the 52-tenant set has agreed that those on the criminal side will pay less towards the running costs of the chambers.Many chambers accommodate their criminal and civil barristers differently, as the former spend ...
The joint DTI/Treasury Review Group launched its examination of the rescue culture in January 1999 and issued its preliminary consultation paper in September that year. At the beginning of November, the long-awaited and much-trumpeted report on the 1999 consultation made its belated appearance.The report is dated May 2000. So why did it remain in hiding for six months? There could have been any number of reasons (all good) for temporary suppression, but the smart ...
IT management consultancy business Charteris floats on the alternative investment market (AlM). Issuer advised by Masons (Russell Booker). Nominated adviser and broker Teather & Greenwood represented by Gouldens (John Phillips).
Steel producer Ispat International had to rely heavily on its in-house legal team due to the technical nature of the business. But that is not to say it won't look at outside firms- in fact, it probably knows them all. Vanessa Pawsey investigates.
Nabarro Nathanson's new senior partner Simon Johnston's philosophical attitude may seem like marketing speak, but Dearbail Jordan finds his enthusiasm infectious
Enterprise Chambers (Anthony Mann QC)A London-based set with annexes in Leeds and Newcastle, the set wins strong recommendations, particularly from regional solicitors. Its main players are head of chambers Anthony Mann QC, Peter Arden, Geoffrey Zelin, Linden Ife and Hugh Jory.Erskine Chambers (Robin Potts QC)With head of chambers Robin Potts QC the specialist company set has one of the most highly-rated insolvency ...
There must be some glum faces at Kempson House right now. The failure of Norton Rose to push through a merger with German firm Gaedertz leaves it the only firm directly below the magic circle without a widespread European presence. Ashurst Morris Crisp is opening in Spain, and has chunky operations in France and Germany; ...
Watson Farley & Williams is bolstering its Asian capability by opening an office in Bangkok.
When The Lawyer broke the news last week that Gary Watson, London managing partner of Hammond Suddards Edge, is joining Ashurst Morris Crisp's property team within the next six months, a new and more rosy era seemed to dawn for the long-suffering department.
White & Case is jumping on the structured finance bandwagon in Tokyo. It is taking on a partner from PricewaterhouseCoopers (PwC) to boost its local tax capability.