21 March 2005
Tulkinghorn recognises that the existence of a compensation culture in the UK is largely a media-fuelled myth. That cannot be said for the US, though, and the following cautionary tale gives ample warning to lawyers over here of following too closely the example set by our American cousins. Such is the litigation frenzy that exists in the US, news reaches Tulkinghorn of a lawyer who has actually managed to sue himself.
Allen & Overy (A&O) has raided White & Case to boost its Shanghai office.
Allen & Overy (A&O) has been rocked by the loss of four partners, including two capital markets rainmakers, in just one week.
ABN Amro is poised to launch a full-scale review of its law firm roster following the appointment of the Dutch investment bank's new legal chief last year.
With more mergers in the past year than most people have hot dinners, few can blame the DLA partnership for a little identity confusion.At a recent bash, one DLA partner approached a former colleague (who has since departed for a US firm) to ask: "What's it like being at a Yank firm then?" To which the partner quipped: "You tell me."
Ashurst scores big with remit for Sega" /Ashurst has sealed its first deal for Japanese computer games company Sega.
BakerPlatt, the Jersey-based legal and professional services group allied to UK chambers 7 Bedford Row, has hired former white-collar crime prosecutor John Moscow.
Abbey, Barclays, Deutsche Bank, HSBC and UBS have all tackled adviser issues; magic circle needs to pull its socks up
The NUMBER of complaints made to the Bar Council has dropped for the third successive year, a report published today (21 March) reveals.
Beiten Burkhardt, the former German member of the defunct KPMG legal arm, has reported strong year-end results.
Law Society 'maverick' Christopher Digby-Bell and the former national chair of Wragge & Co's real estate group Gerald Bland are set to battle it out in the election for the Law Society's commercial property seat.
Law firms always become very enthusiastic when discussing new buildings. Visions of shiny, open-plan space, the latest technology, rooftop gardens and atriums the size of a football pitch makes the eyes of managing partners light up.
Cadwalader Wickersham & Taft is continuing its push into the London finance market with the hire of Norton Rose partner Christian Parker.
A new organisation, the General Counsel 100 Group (GC100), has been established for in-house lawyers working within the FTSE 100. The group was launched on 9 March and has a membership comprising the senior legal officers of more than 50 FTSE 100 companies. GC100 has been created in response to the increasing volume and complexity of domestic and international law and regulation impacting on UK listed companies. Its main objectives are to provide a forum for practical and business-focused ...
Antonia Mann, a former Vodafone in-houser for 14 years, has joined the corporate and commercial group of White & Bowker as a consultant.
Clifford Chance’s New York office has secured a coup with the hire of Elaine Laurence, the former Goldman Sachs legal director and associate general counsel.
Allen & Overy's (A&O) corporate department has scooped a major client in the form of Italy's second-largest bank UniCredito Italiano.
John Carroll, the managing partner of Clifford Chance's Americas practice, has announced that he is stepping down from the role nearly nine months before his term was due to expire.
The number of commercial mediations referred to the Centre for Dispute Resolution (CEDR) rose for the fourth consecutive year in 2004.
Chadbourne & Parke is ramping up its Moscow presence with the hire of former Lovells partner Christopher Owen.
Clifford Chance is merging its insurance and reinsurance practice with its shipping group, creating a single 10-partner team. The move aims to exploit synergies between the two London teams. Insurance head Nicholas Munday will lead the group, which will operate as the insurance and shipping dispute resolution group, specialising in insurance and reinsurance dispute resolution as well as transactions ...
Two former partners of Guernsey firm Carey Olsen have taken the unusual step of launching their own specialist litigation and employment boutique in a bid to avoid the conflicts that plagued them while at the offshore giant.
Dechert London has concluded its protracted search for new premises with a deal to take up offices at Times Square. The Philadelphia-based firm has signed a lease to take on 55,000sq ft at Times Square, 160 Queen Victoria Street, with an option to take additional space. The office will accommodate 280 fee-earners and support staff. Dechert is hoping to move from Serjeant's Inn this year. The hunt began in ...
Dechert has raided Clifford Chance to boost its financial services practice in London.
DLA Piper Rudnick Gray Cary has raided Coudert Brothers to secure two new Bangkok partners as the firm aggressively ramps up its Thai presence.
DLA Piper Rudnick Gray Cary has announced its latest round of partner promotions, with 23 lawyers being made up across the firm’s UK, European and Asian network.
DLA Piper Rudnick Gray Cary has defeated New York's real estate elite to secure a glamour instruction to advise the Port Authority of New York on the redevelopment of the World Trade Centre site.
Human rights set Doughty Street Chambers has appointed three new junior tenants, bringing the number of barristers at the set to 89.
Honda has overhauled its legal panel and dumped Eversheds, issuing the national firm with a damning rebuke over its client management skills.
Norton Rose has appointed a former partner as its first ever head of compliance.
"She was a single mother who got herself into debt because she had to give up work following the collapse of her marriage," relates Stephen Llewellyn, special counsel at US firm Faegre & Benson's London office. "Added to this, her former husband had tried to abduct their son to another country."
Lord Falconer, the Lord Chancellor, today (21 March) confirmed that the government will be introducing legislation to put into place recommendations made by Sir David Clementi in his recent review of the regulation of the legal profession.
FedEx Corporation has promoted Christine Richards to the position of executive vice-president, general counsel and secretary. She replaces Kenneth Masterson, who retires at the end of May. Masterson has been at FedEx since 1979 and will continue as a consultant to the company. Richards has been at FedEx since 1984. She is corporate vice-president of customer and business transactions at FedEx Corporation and general counsel of FedEx Corporate Services.
Howrey Simon Arnold & White's London outpost is among the most successful of the US firm's international outposts, reporting a fee income for 2004 of £8.8m, up by £1.9m on 2003's figure.
As risk and corporate governance continue to hold the attention of the legal and financial communities general counsel are moving away from their traditional role of adviser to one of risk manager.
Gibson Dunn & Crutcher's New York office is ramping up its media and entertainment presence with the hire of a five-lawyer team from Manatt Phelps & Phillips. The former head of Manatt's litigation group, Orin Snyder, has quit the firm to join Gibson Dunn & Crutcher, taking with him a group of four associates. The team focuses on IP and commercial litigation, with an emphasis on media and ...
Shearman securitisation trouble is Tucker's luckShearman & Sterling's hire of the ebullient Julian Tucker from Allen & Overy (A&O), and the departure of Marke Raines - another former A&O partner, incidentally - mark a new turn for the US firm's securitisation business.
Hammonds has secured victory for Eurojust, the European body against organised crime, in a case brought by the Kingdom of Spain. The case clarifies limits to the privileges of European member states before the European Court of Justice (ECJ). Spain had asked for the annulment of Eurojust staff application calls, saying they were discriminatory on grounds of nationality. Eurojust was seeking staff with a good knowledge of English or French, and Spain said some applicants would be disadvantaged. .
Herbert Smith has invited nine lawyers to join the partnership from 1 April, with the bulk of the promotions taking place in London. Lawyers promoted to partner include Kevin Roy, Thiha Tun, John Geraghty (left) and James Milne in the corporate team. The firm has not made up any dispute resolution partners in London, instead promoting Tokyo-based dispute ...
Senior partner Gold raids 11 Stone Bldgs for Murray Rosen QC; other set relationships to be maintained
The 15-year saga of litigation ensuing from the Exxon Valdez oil spill has finally come to an end.
Human rights organisations are building up the pressure on courts to prosecute US officials for alleged complicity in the torture of Iraqi prisoners.
Studio Santa Maria, the Italian ally of Kramer Levin Naftalis & Frankel, has sidelined the New York firm to form an alliance with Greenberg Traurig.
BPP Law School has outperformed the rest of its parent company with a turnover growth of 29 per cent in 2004.
David Gold must be delighted that his firm's protracted search for a silk has finally come to fruition. Unfortunately, in that time Herbert Smith has lost two of its own home-grown QCs - Lawrence Collins QC to the bench and, most recently, Julian Lew QC, who joins 20 Essex Street on 1 April.
As every lawyer knows, the only gong worth winning is none other than the ones handed out by The Lawyer at its glitzy awards ceremony, or the legal Oscars. So it's no wonder Berwin Leighton Paisner (BLP), which scooped the coveted Law Firm of The Year Award at last year's event, wants to shout about it from the rooftops.
Manches' gross revenues and average profit per equity partner (PEP) both dropped last year, according to its 2004 year-end figures. But there has been a dramatic increase in the top of equity as its new merit element of the firm’s distribution system kicks in.
Who can blame the humble Dibb Lupton partnership for being a little starstruck?
Dutch giant Nauta Dutilh is ramping up its life sciences practice with the hire of CMS Derks Star Busmann partner Carla Schoonderbeek.
Islamic finance is growing, and with international commercial banks stepping up their interest the trend is set to continue unabated. By Nadim Khan and Mohammed Paracha
Most real estate lawyers thought they were an alcohol-induced Mipim hallucination, but Tulkinghorn can confirm that Spurs legend Gary Lineker, former England captain Bryan Robson and lanky Ireland star Niall Quinn were indeed drinking at the Martinez Bar on Thursday evening (10 March).
The Isle of Man's decision to introduce a zero-rate income tax is intended to take the economy onto a whole new level in international finance. Andrew Corlett reports
The projected growth in the UK gambling sector is seeing lawyers and accountants join forces
Osborne Clarke has swooped on EY Law's Luther Menold to launch a three-partner Munich office, as the Bristol-based firm unveils ambitious plans to ramp up its German offering.
Outer Temple Chambers’ Paul Garlick QC has been appointed as an international judge for War Crimes of the Criminal and Appellate Divisions of the Court of Bosnia and Herzegovina.
Pinsent Masons’ joint London managing partner and national head of corporate has quit to join Kirkpatrick & Lockhart Nicholson Graham.
A senior Pinsent Masons banking and finance partner has been charged with murdering his wife.
Speed is the key thrust of the new Marzano Law, Italy's answer to existing restructuring shortfalls. Stephen Aulsebrook and Federica Sambiase report
With Dutch deals thin on the ground, the leading corporate firms shrank their headcounts and closed practices. Matt Byrne reports on the The Lawyer Euro 100's Dutch firms
The Simmons & Simmons partnership has given new managing partner Mark Dawkins carte blanche to shake up its management.
Securing instructions is easy for some, but not others. Pippa Blakemore provides five steps to sucess
Sullivan & Cromwell has broken the dominance of the magic circle firms in the European M&A market.
Andrew Reid offers further proof, if it were needed, that lawyers do not always conform to traditional stereotypes.
Tim Taylor, head of corporate, Withers
Three firms have unveiled their first LLP accounts for the end of the 2004 financial year.
Real estate lawyers have welcomed last week's dual developments on upward-only rent reviews and Real Estate Investment Trusts (Reits).
The ongoing saga of Application Note G (ANG) to FRS5 finally reached a conclusion on 10 March, when the Urgent Issues Task Force of the Accounting Standards Board (ASB) issued its conclusions on the cause of much legal market angst.
A Belgian boutique has been battling for the rights of a banana importer in his fight for the recognition of World Trade Organisation (WTO) rulings in Europe.
Weightmans has appointed Clive Bleasdale as head of property, poaching him and a team of lawyers from North West firm Perkins Solicitors. Bleasdale, formerly head of property and founder of Perkins' Liverpool office, will be based in Weightmans' Liverpool branch. The hire follows an announcement in January that Weightmans was to focus more on commercial property work, particularly in Liverpool.
Willkie Farr & Gallagher is reeling after the loss of its Frankfurt managing partner, who has quit the US firm to launch his own practice.