21 May 2007
The Lawyer
Duane Morris seeks City suitor
Philadelphia-headquartered Duane Morris was putting on its top hat, tying up its white tie and brushing down its tails last week, hoping to impress the City's glitterati in what might lead to the greatest transatlantic hook-up since Jones Day met Gouldens. (Or not.)
People
US firm LeBoeuf Lamb Greene & McRae has recruited real estate partner Stuart Saft into its New York office. Saft joins from Wolf Haldenstein Adler Freeman & Herz.
A&O suffers Italian exodus to Linklaters
The stream of lawyers leaving Allen & Overy’s (A&O) Milan office for arch-rival Linklaters increased with another banking associate making the move.
A&O ties help secure New Look auction instruction
An old relationship has gifted Allen & Overy (A&O) a key mandate to advise on the auction of high street retailer New Look.
Addleshaws, DLA Piper land roles on Leeds Bradford Airport sell-off
Addleshaw Goddard and DLA Piper have acted on the £145m sale of Leeds Bradford International Airport by five West Yorkshire councils.
Ashurst catches up with rivals' NQ salaries
Ashurst has increased its associate salaries by 16 per cent to catch up with its City rivals.
Associated Newspapers settles over Knightley anorexia claim
Schillings has scored a settlement for Hollywood star Keira Knightley over her libel claim against the Daily Mail over a story which suggested she was responsible for the death of an anorexic teenager.
Aussie law firm listed today; 8m shares traded
Australian firm Slater & Gordon became the world's first law firm to float on a stock exchange today.
Bakers' corporate team sidesteps Linklaters to win Rio Tinto work
Baker & McKenzie's London competition team has gifted the firm's corporate partners their first instruction from Rio Tinto.
Bar Council vice-chair wins judge's salary
Vice-chair of the Bar Council Timothy Dutton QC will be the last in his post to work for free.
Bircham promotes seven to partnership
London’s Bircham Dyson Bell has promoted seven lawyers to the partnership.
Bird & Bird launches Spanish employment team
Bird & Bird has launched a Spanish employment practice with the hire of Uría Menéndez senior associate Daniel Cifuentes.
Blake's heaven
The other day one of Tulkinghorn's scribes found himself with SJ Berwin senior partner Jonathan Blake discussing the topic of what were the most undesirable trainee tasks.
BLP's projects team dealt second exit blow
Berwin Leighton Paisner's (BLP) projects practice has been thrown into disarray after it lost its second partner this year.
Burges Salmon posts 10 per cent growth
Bristol-based Burges Salmon has increased turnover by 10 per cent, its year-end financial results reveal.
Camerons boosts newly-qualifieds' pay
Associates at CMS Cameron McKenna were enjoying the firm's largesse as it upped newly qualified lawyers' (NQs) salaries by 18.5 per cent.
Charles Russell: Private life
Charles Russell has never been easy to pigeonhole; new managing partner James Holder on why his firm isn't just about private clients and cathedral cities
Chelsea wins appeal over Mutu compensation
Hammonds has won a victory for Chelsea Football Club against disgraced Romanian striker Adrian Mutu, who could be ordered to pay the club as much as £15m in compensation.
Cobbetts' PEP up by a fifth as mergers tell
North West firm Cobbetts has announced an 8 per cent increase in turnover to £58.5m for the 2006-07 financial year.
Conyers hires QC for Cayman office
Offshore firm Conyers Dill & Pearman has expanded its Cayman Islands operation with the hire of Nigel Meeson QC of Quadrant Chambers.
Covington leads banks through energy deals
Covington & Burling has advised India's second-largest bank ICICI and Standard Chartered as lead arrangers for two large-scale energy projects.
Cripps boosts PEP by 23 per cent
Kent firm Cripps Harries Hall has increased its average profit per equity partner (PEP) by 23 per cent. The firm's 2006-07 year-end figures show that PEP has risen by £36,000 to hit £191,000 from £155,000 in 2005-06.
Cuatrecasas looks to Herbert Smith to see how it's done in China
Cuatrecasas has enlisted the help of best friend Herbert Smith to develop its China strategy, sending a senior associate to the UK firm's Shanghai office.
Dechert raises maintenance grants by 40 per cent
Dechert has stunned its City rivals with a whopping 42.9 per cent hike in the LPC maintenance grants the firm pays to its future trainees.
Developer threatens DWS over land deal
Property developer Crest Nicholson is suing Denton Wilde Sapte (DWS) over a property deal that has ended up in the High Court.
Dickinson Dees recovers with 14 per cent PEP rise
Newcastle-based Dickinson Dees has posted a 17 per cent rise in turnover to £56m for the 2006-07 financial year along with a 14 per cent increase in average profit per equity partner (PEP), to £366,000.
Diversity debate needs diversity
Is the diversity debate going off on the wrong tracks? Inclusivity and diversity are about ensuring that an organisation has a healthy mix of people who feel motivated to succeed, regardless of background. If people feel comfortable and valued in the workplace, they'll perform better.
DLA Piper boosts tax and hedge fund expertise
DLA Piper has boosted its corporate practice with the additions of tax partner Richard Woolich and associate David Williams, who specialises in hedge fund formation.
DLA Piper fills overseas secondment gap
DLA Piper is set to launch its first-ever international trainee secondment programme following revelations that it was one of only two UK firms that did not offer overseas secondments.
DLA Piper offers trainees the world
It's good to see that DLA Piper has finally got its act together on overseas secondments. See story.
DLA Piper plays pro bono role in Cutty Sark preservation
DLA Piper plays pro bono role in Cutty Sark preservation" /DLA Piper has helped to secure a lease for the trust preserving the Cutty Sark in Greenwich, one of the world's oldest ships and the only surviving 'tea clipper'.
DLA Piper pledges to hit back after Cutty Sark fire
DLA Piper has pledged to "do whatever is necessary" to help The Cutty Sark Trust in the wake of the fire that has gutted the 19th century ship, including prosecution if the blaze turns out to have been started by arsonists, as police fear.
DLA Piper recruits Zeughauser partner for management team
DLA Piper has hired Jolene Overbeck as global chief marketing officer from consultancy the Zeughauser Group, where she was a partner.
DLA Piper to roll out £10m financial reporting system
DLA Piper is set to launch a bespoke global financials system designed to streamline reporting across the entire firm.
DLA Piper up in arms as Cutty Sark is set ablaze
Tragic timing. The very day that The Lawyer pays tribute to DLA Piper's fine work in assisting the restoration of the Cutty Sark, one of the UK's most treasured vessels, the ship is gutted by what police fear was arson.
DWS reveals 6 per cent turnover rise
Denton Wilde Sapte (DWS) has reported a 6 per cent increase in turnover, from £147.5m up to £155.7, for the 2007 financial year.
Employment
Employment law is in a state of flux. There has been an onslaught of employment legislation, such as the new age discrimination laws and the Transfer of Undertakings (Protection of Employment) (Tupe) rules.
Employment: Care warn
New legislation gives carers the right to request flexible working. Jane Moorman and Howard Lewis-Nunn on a case that could push the UK's laws even further
Employment: No smoke without fire
The smoking ban may stop claims over second-hand smoke, but will the smokers themselves start claiming it's all too unfair? ask David Harper and Anya Switalski
Employment: When in Rome…
Companies hoping to save money by outsourcing their operations abroad need to do their research, says Martin Warren
EU ministers thrash out Rome II regulation for non-contractual disputes in EU
Agreement has been struck on the final shape of the long-discussed Rome II regulation, which establishes guidelines on choosing court jurisdictions for non-contractual disputes within the EU.
FFW, SJ Berwin get teeth into Hammer comeback
Field Fisher Waterhouse (FFW) and SJ Berwin have clinched a new media client after raising Hammer Film Productions from the dead in a $50m (£325.24m) leveraged buy-in.
First sharia-compliant private equity fund goes way of Dechert
Dechert" /Dechert has scooped a key role as lead adviser for the first sharia-compliant private equity fund, CMH Enterprise Fund I.
Fox Hayes growth sees turnover top £10m
Leeds-based Fox Hayes has broken through the £10m turnover barrier for the first time, posting a 23.5 per cent increase in turnover of around £2m to reach £10.5m.
Freshfields acts for Ashley on Newcastle United bid
Freshfields Bruckhaus Deringer has scored another key role on the latest Premiership football takeover, advising sportswear entrepreneur Mike Ashley on his daring £133.1m cash bid for Newcastle United FC.
Freshfields restructure: final bill to top £55m
The cost of Freshfields Bruckhaus Deringer's restructuring has topped £55m, nearly 40 per cent more than was budgeted.
GE launches first European M&A panel
UK and Continental advisers under microscope as US giant kicks off review
George Scott: Scottish Re
After a recent investor cash boost Scottish Re's first UK in-house lawyer George Scott is happy to play his role in the reinsurer's return to prominence. By Nina Goswami
Global investment hits Herbies' profit
Herbert Smith is predicting a drop in profit for the last financial year, while revenue looks set to rise by between 12 and 13 per cent.
Hammonds appoints Edwards as new Manchester head
Hammonds has appointed a new head for its 26-partner Manchester office.
Hammonds, Chelsea and cocaine
A nice win today from the strangely low-profile Hammonds: it's just acted for Chelsea FC in getting compensation out of £15m striker Adrian Mutu, binned in 2005 after he tested positive for cocaine. See story.
HBJ takes over Boyds as expansion gathers pace
Anglo-Scottish firm HBJ Gateley Wareing has merged with Glasgow and Edinburgh firm Boyds Solicitors, the firm's second merger in as many months.
Heller completes first deal since London launch
Heller Ehrman has completed its first major deal in London since opening for business in the capital in February, floating internet search engine Blinkx on AIM.
Herbies lays down the law on diversity
It seems not everyone at Herbert Smith was enthusiastic about the firm's diversity initiative. So much so that, when the firm began its diversity training for partners, it had to make it compulsory. So said partner Martina Asmar, head of inclusivity at the firm, at The Lawyer conference on diversity on 16 May.
Jeffrey Green partner launches boutique
Hilmi has left the firm to launch new boutique Partners Legal. Hilmi, whose primary focus is on investment and development work, has worked on City property deals, including advising City Site Estates on its £55m acquisition of 51 Eastcheap from British Land and advising onHobhouse's £34.5m purchase of Hobhouse Court in St James's from the Crown Estate.
Jose Mourinho's dog finds a lawyer
JPMorgan to reward firms for diversity commitment
JPMorgan is about to kick off its panel review, bringing in diversity as a criteria for UK law firms for the first time.
Judges absent from MoJ launch party
The launch party for the Ministry of Justice (MoJ) on Wednesday night (23 May) had a few notable absentees – namely judges.
Judiciary sides with Winston Smith on new MoJ
It was just like a teddy bears' picnic except with no teddy bears.
K&L gates scoops Devonport selloff
Kirkpatrick & Lockhart Preston Gates Ellis (K&L Gates) has advised a consortium of companies on the sale of the entire issued share capital of Devonport Management.
Keeper's finders
Apparently international firms are going to great lengths to make sure their top partners stay put and don't get lured by rival firms.
Kirkland opens inaugural trainee scheme in City
Kirkland & Ellis is planning to offer training contracts in its London office, underlining the Chicago-based firm's commitment to the future of its UK practice.
Law firm chambers: the model setup for the 21st century or just a gimmick?
Two years on and only one firm has followed Herbert Smith into the courtroom. Nina Goswami asks why
Law Society restructuring continues with management shake-up
The Law Society has expanded it secretariat with the appointment of a new director of Law Society services and a communications director.
Lawyer's beef with burger
Tulkinghorn's scribes are no strangers to luxury, having feasted on many a Ginsters Deep Fill sandwich over the years. But too much of a good thing and one can get spoilt.
Linklaters commits to Italy with London secondee programme
Linklaters is preparing to welcome lawyers on secondment from its Milan and Rome offices for the first time in London as the firm's Italian expansion gathers momentum.
Linklaters London staff get small bonus hike
Linklaters’ profit-related bonus has gone up by £100 to £2,500 this year.
Lovells' financial results underline poor year
Lovells has been hit by disappointing financial results, with average profit per equity partner (PEP) rising by just 2 per cent and turnover increasing by 7 per cent.
Maclays opens Aberdeen private client arm
Maclay Murray & Spens has launched a private client practice in its Aberdeen office.
Mayer Brown boosts London and Brussels with tax trio
Mayer Brown Rowe & Maw has strengthened its corporate tax practice with the addition of two London partners and a Brussels-based tax adviser.
MBRM closes public law department
Mayer Brown Rowe & Maw's (MBRM) last remaining public law partner has left. Anna Forge is set to join McGrigors next month.
MBRM names new chief for Chicago HQ
Mayer Brown Rowe & Maw has appointed Frederick Thomas as the partner in charge of its headquarters in Chicago, while office managing partner Debora de Hoyos is to take a position on the firmwide management committee.
Mishcon snares Faegre employment head
The London office of US firm Faegre & Benson has lost the head of its employment team, and its sole employment partner, to Mishcon de Reya.
Moore Blatch: look, no ands
Will the name changes never end? Hot on the heels of Nabarro Nathanson's groundbreaking decision to crop its name to just Nabarro, and Lawrence Graham's even more radical 'LG', comes news of another revamp.Southampton's Moore & Blatch, in a canny spot of zeitgeist recognition, has also plumped for ...
Nabarro, travers bag rugby estates float
Nabarro and Travers Smith have advised on the £50m London Stock Exchange float of the Rugby Estates Investment Trust. Formed to take advantage of the UK's new real estate investment trust (Reit) regime, Rugby Estates intends to assemble a portfolio of investment properties in the UK. It will acquire privately owned ...
Norton Rose boosts PEP to £500k despite investments
Norton Rose has seen its average profit per equity partner (PEP) break the half-a-million mark for the first time.
OFT proposals risk disturbing the balance in damages claims
On 18 April the Office of Fair Trading (OFT) published a discussion paper on the ways in which damages claims for breach of competition law could be encouraged. This follows a green paper on the subject published by the European Commission at the end of 2005.
Olswang beats FFW on trademark filings
Olswang has leapfrogged Field Fisher Waterhouse (FFW) to become the UK's most active law firm for trademark filing, applying for 154 trademarks in 2006.
Olswang promotes five to the partnership
Olswang has made up five new partners. They are real estate lawyers Julien Allen and Alan Karsberg, litigator Alex Gerbi, tax specialist Cliona Kirby and IP lawyer Stephen Reese.
Olswang takes real estate fund onto aim
Olswang has advised real estate fund Dawnay Day Sirius on its €300m (£205.09m) admission to AIM. The company acquires large mixed-use commercial real estate in Germany to develop as workspaces. The IPO was targeted at both UK and international investors and should help the company build a target portfolio of assets worth up to €750m (£512.73m) over the next 12-18 months.
Partnership snub sparks mass counsel walkout at Shearman
US firm Shearman & Sterling is struggling with an exodus that has seen nine counsel quit the firm since it introduced the role to reward associates who do not make partner.
Paul Hastings rolls out global secondment programme
US firm Paul Hastings Janofsky & Walker is launching a secondment programme for its associates across the firm, starting with a pilot scheme this summer.
Peters & Peters advises Mourinho’s dog
Peters & Peters partner Elizabeth Robertson has bagged the lead mandate in the fight over Chelsea manager Jose Mourinho’s dog, a Yorkshire terrier puppy called Leya.
Prentice slams firms' 'disgraceful' response to diversity reporting
Justice Minister Bridget Prentice has once again called on the UK's biggest law firms to publish their diversity statistics, branding the response from the profession as "disgraceful".
Rosenblatt's MoD nuclear claim gathers momentum
Rosenblatt Solicitors says it believes it has found "the silver bullet" that could pave the way for a multibillion-pound class action against the Government in relation to sailors used as human guinea pigs in nuclear tests in the 1950s.
Salans drops dollars to report in euros
Salans is planning to change its reporting currency from dollars to euros next year in a bid to reflect the changing geographical coverage of the firm.
Schillings fights Mail over Knightley anorexia articles
Media law firm Schillings sued the Daily Mail’s publisher for libel today (24 May) on behalf of Pirates of the Caribbean star Keira Knightley.
Settling the bill
Law Society president Fiona Woolf is banging the drum for a radical shift of the legal market, but some firms have already changed
SJ Berwin hikes associate pay
SJ Berwin has become the latest firm to announce its salary increases, with a 16 per cent hike to its newly qualified (NQ) rate.
Skadden and Cleary advise Nasdaq on OMX deal
New York’s junior market Nasdaq has turned to trusted advisers Skadden Arps Slate Meagher & Flom to guide it through its $3.7bn offer for Nordic stock exchange operator OMX.
Slater & Gordon becomes first law firm to float
Today (21 May) the world, or at least the world's legal market, has changed forever. While in the UK the legislative process rumbles onwards towards a post-Clementi world, lawyers on the other side of the world at the first law firm to get an IPO away are popping the champagne corks.
Staying competitive in the regions
As the partner promotion season reaches its height, many senior associates, and indeed salaried partners, will be considering their options and possibly career moves.
Stones falters as reorganisation grips
TURNOVER at South West firm Stones has remained all but static, inching up by just £100,000, from £7.8m to £7.9m, following a year of reorganisation.
Taylor Wessing rebuilds in Berlin with Graf raid
Taylor Wessing has hired a team of four lawyers for its resurgent Berlin office.
The work-life quiz with Tom Brooke
What was your first-ever job?A goatherd in the Massif Central, France.
Trowers reveals 21 per cent increase in turnover
Trowers & Hamlins has boosted its revenue by more than a fifth, with turnover soaring by 21 per cent, from £56.4m to £68.1m.
Universal Pictures rejigs UK legal department
Universal Pictures International Entertainment (UPIE) has restructured its UK legal team with the appointment of a new director and head of legal and business affairs.
Uría taps into Central and Eastern Europe with new Warsaw office
Uría Menéndez is gearing up to launch its first new office in 10 years, targeting the Polish capital Warsaw as a foothold in Central and Eastern Europe (CEE).
Very similitude
Tulkinghorn is aware that the vogue is for new job titles among the serried ranks of legal drones, but congratulations are surely due to the PR team at Leboeuf Lamb Greene & MacRae for coming up with yet another post.
Web week
The Lawyer's Web Week is a weekly commentary on legal activity on the web. This includes an overview of the best of the week's blogs. If you want to direct us to useful links, email webweek@ thelawyer. com.
Wedlake gives up fight over Cobbetts' City launch
Wedlake Bell's attempts to disrupt Cobbetts' London office launch have failed after the firms' gardening leave dispute was settled out of court.
Weil Gotshal scoops £3.2bn Terra Firma mandate on EMI deal
Weil Gotshal has snared a historic win advising Terra Firma on the £3.2bn takeover of music publishing giant EMI after a hard-fought auction.
Weil wins biggest deals on both sides of Atlantic
Weil Gotshal & Manges scooped its second major private equity acquisition of a household name this week, advising Goldman Sachs on the $25bn (£12.6bn) acquisition of US wireless operator Alltel.
Wife keeps £48m Charman award
Manches scored a first in English legal history when the Court of Appeal today (24 May) upheld the largest-ever contested divorce settlement.
Wife topping
Shame on the anonymous tipster who pulled the plug on Ogier partner Gray Smith's hopes of concealing his budding TV stardom.
