22 September 2008
The Lawyer
2Birds wraps up Lane & Partners merger
Bird & Bird has boosted its corporate and litigation practices, sealing a merger with 30-lawyer London firm Lane & Partners.
A&O raids Shearman for Munich launch
Allen & Overy (A&O) is to open its fifth German office in Munich next month.The new office will be headed by Shearman & Sterling’s current Munich chief Gottfried Breuninger, who is also Shearman’s global co-head of tax. He will join with Munich M&A partner Astrid Krüger, who was made up at Shearman in 2006.
ADR giant jams sets out stall in London; Europe, Asia next
Jams, the largest private provider of alternative dispute resolution (ADR) services in the world, is to open in London.
After Lehman: the winners, the losers, the opportunities
The City’s banks are clamouring for the cream of Lehman Brothers’ in-house lawyers, with many setting up special processes to deal with the demand.
AIG hands $20bn rescue mandate to Sullivan
US insurance giant AIG drafted in Sullivan & Cromwell to advise it on its $20bn (£11.23bn) lifeline from ;New ;York ;State regulators.
Allen & Overy chief is first lawyer on Boris's City business group
A&O senior partner David Morley has become the first lawyer on London Mayor Boris Johnson's International Business Advisory Council.
Ashurst advises CarVal on Lehman's £100m salary lifeline
Ashurst advises CarVal on Lehman's £100m salary lifeline" /Ashurst has advised the lender on a £100m emergency loan that will ensure the London staff of Lehman Brothers get paid at the end of September.
Bakers, Mayer Brown and Orrick prowl round Heller
Baker & McKenzie, Mayer Brown and Orrick Herrington & Sutcliffe are among the contenders to take large chunks of US firm Heller Ehrman, which announced plans to dissolve yesterday.
Banks turn to Cravath, Davis Polk for creation of $70bn liquidity fund
Cravath Swaine & Moore and Davis Polk & Wardwell won places advising on the creation of the $70bn (£39.29bn) liquidity facility set up by leading investment banks in the aftermath of Lehman Brothers’ collapse.
Blake Lapthorn drops ‘Tarlo Lyons’ name
Blake Lapthorn Tarlo Lyons has dropped the ‘Tarlo Lyons’ from its title two years after merging with the London-based firm.
Brum puts £5m panel out to tender
Birmingham City Council, the largest local authority in the UK, is set to launch a panel review to revamp its roster of 21 firms.
Cleary, Ropes & Gray on latest Lehman sale
Bain Capital and Hellman & Friedman have turned to longstanding advisers for their joint acquisition of Lehman Brothers’ investment management unit.
Clifford Chance makes Linklaters Tokyo hire
Clifford Chance has hired a Linklaters capital markets partner for its Tokyo office.
Clifford Chance, Herbert Smith bag key roles on EDF-Brit Energy
Clifford Chance, Herbert Smith, Shepherd & Wedderburn and Slaughter and May have tied up the £12.5bn sale of power giant British Energy to EDF.
Commercial & chancery
The Commercial and Chancery arena is in for a busy new term, with two of the biggest cases for this year starting in the courts – the Buncefield litigation and Tajik Aluminium.
Credit crisis sparks rush on divorce proceedings
Family lawyers are already seeing an increase in work as a growing number of women seek to secure assets as the economic boom turns to gloom.
Danger plan
What with all the talk of financial apocalypse, more and more firms are following their clients to emerging markets.
Decision day in Ashurst senior partner ballot
The race to become Ashurst senior partner is entering its final day today (Monday 22 September) as the firm’s partners conclude their voting.
Dispute resolution to soar, four reports agree
Dispute resolution is set to rise sharply, according to four independent reports published this week.
DLA relocates Europe, Asia snr partner to Dubai
DLA Piper is sending its Europe and Asia senior partner to the Gulf to marshal the firm’s expansion in the Middle East.
DWF London raids Weightmans for six-strong insurance team
DWF has snared a six-partner insurance team for its fledgling London office from regional rival Weightmans, including London office head Mark Whittaker.
End of the road for Heller?
Fifteen-partner exodus proves last straw. By the time you read this, Heller Ehrman may be no more. Take a moment to absorb the news. Shed a tear, perhaps. As this column was being written last week, the beleagured firm was facing the prospect of liquidation as the rate of partners deserting the firm accelerated.
Eversheds hires Heller chief for Hong Kong
Eversheds hires Heller chief for Hong Kong" /Eversheds has recruited Heller Ehrman Asia chief Nick Seddon to launch an office in Hong Kong.
FFW real estate quartet in RPC switch
Reynolds Porter Chamberlain (RPC) has raided Field Fisher Waterhouse (FFW) for a four-lawyer team to ramp up its real estate group.
Finers Stephens Innocent to axe six property jobs
London firm Finers Stephens Innocent is set to cut more than a fifth of jobs in its real estate practice, starting a four-week redundancy consultation.
Focus: Kennedys
Kennedys senior partner Nick Thomas has been quick off the mark to react to insurer clients’ demands with a series of takeovers. And he predicts further consolidation to come in the sector
Focus: Olsen v Abell: Battle Field
The discrimination claim filed by Field Fisher Waterhouse trademarks head John Olsen lifts the lid on a partnership riven with disputes over clients, money and status
Fountain Court signs up Bar Council chairman
Bar Council chairman Timothy Dutton QC is set to become Fountain Court Chambers new head of chambers, replacing Michael Brindle QC.
Freshfields DC flies in Paris partner
Freshfields Bruckhaus Deringer has launched an international arbitration group in its Washington DC office, transferring a Paris-based partner for the purpose.
Freshfields joins Nomura deal
Freshfields Bruckhaus Deringer has joined the raft of firms advising on Japanese bank Nomura's acquisition of Lehman Brothers' investment banking business in Europe, the Middle East and Asia.
Geffen takes Ashurst senior partner crown
Ashurst private equity head Charlie Geffen has won the race to succeed Geoffrey Green as senior partner, beating litigation partner Ed Sparrow to the job.
Halliwells to cut up to 40 property staff
Halliwells has become the latest firm to launch a redundancy consultation across its real estate practice, potentially cutting as many as 40 staff.
Heller Ehrman begins dissolution
Heller Ehrman has formed a dissolution committee to oversee the winding down of the firm which is due to start as early as today (26 September).
Heller Ehrman up for grabs
Heller Ehrman up for grabs 26 September 2008Some usual suspects are circling Heller Ehrman as the fire sale of its various practices kicked off in earnest after news of the West Coast firm's dissolution.
Heyday: the end of the beginning
Yesterday the advocate-general to the European Court of Justice rejected the first major challenge to the right of employers to make people retire at 65. The Heday case, brought by the charity Age Concern, has been running since 2006 to clarify the laws governing age discrimination around retirement.
Howden brokerage appoints to new GC role
Lloyds of London's broker, Howden, has appointed Simon Gildener as a client-facing general counsel.
International insolvencies: new thinking required
Lehman, AIG, Merrill Lynch, HBOS and, we are told, more to come. The recent acceleration of turmoil in international financial markets is a familiar, yet no less unsettling headline by now. Less reported, however, are the potential strains on insolvency systems around the world.
Irwin Mitchell chief to step down in 2009
Irwin Mitchell managing partner Howard Culley has announced that he has decided to retire from the firm – just eight months after being re-elected to the role.
It takes two
It’s no accident that the Chancery Division and the Commercial Court are separate entities – and that’s how they should stay, argues Geoffrey Zelin.
It’s good to talk
Commercial enterprises thrive on saving time and costs, which is why mediation is threatening to take over from traditional litigation.
Judge rules for Nixon Peabody in TWF battle
Taylor Wessing has lost its court battle to prevent US firm Nixon Peabody poaching 13 partners from its Paris office.
Katten hires Mayer bankruptcy specialist
New York-based Katten Muchin Rosenman has recruited bankruptcy specialist Ken Noble from Mayer Brown. Noble joined Katten on 16 September after 15 years at Mayer Brown, where he was a partner.
Lawyer dearth sees GCs bag top dollar in UAE
In-house lawyers in the United Arab Emirates (UAE) are being paid more than ever because of a lack of suitable candidates.
Lehman Brothers: A catalyst for London litigation
Much has been written over recent months about the prospects for a wave of credit crunch related litigation in London similar to that experienced in the US.
LG in redundancy talks with 21 staff
LG has entered into a redundancy consultation with 21 support staff, with the firm blaming “overcapacity” rather than wider market conditions.
Linklaters expands PwC team stateside
Linklaters has finalised its 20-strong US team advising PricewaterhouseCoopers on the Lehman Brothers bankruptcy.
Linklaters’ CEE spin-off separates
The Linklaters breakaway firm in Central and Eastern Europe is set to unveil an innovative structure to bring in capital investment when it launches in November.
Links puts age before beauty
It was Linklaters’ week. Landing the Lehman administration with PricewaterhouseCoopers (PwC) and two days later acting for Lloyds TSB on its rescue of HBOS would have sent those faltering utilisation rates through the roof.
Links, Cleary Gottlieb get fourth Wall St mandates
Linklaters and Cleary Gottlieb Hamilton & Steen have each bagged their fourth major instruction in relation to the fall-out on Wall Street.
Madge about the girl...
The sweet sound of good brandy splashing into a crystal glass is music enough to Tulkinghorn’s ears, but the managing partners of the UK’s biggest firms demand something a little louder. And clad in leather. Madonna, to be precise.
Michael Stancombe: Lovells
What was your first-ever job?Mr Whippy ice-cream salesman.
MLS Chase
Manoj Ladwa set up MLS Chase in 2002 because he felt there was a gap in the UK market for a firm that focused solely on the Indian market. Since then India has become big business for City firms – but according to Ladwa his firm is still the only one that has a pure focus on the subcontinent.
Moves roundup; 22 September 2008
Norton Rose has hired former DLA Piper head of private equity in Italy, Davide Proverbio. He will be based in the firm’s Milan office.
Muckle tells trainees to wait
Newcastle firm Muckle has deferred the start date of its September 2008 trainees by a year.
National punt
The past decade has seen the North West’s six biggest firms open London offices in bids to develop national brands. But by moving away from their roots, are they inadvertently doing themselves a disservice?
Never-ending story
Sixty-seven years on from its initial hearing in 1941, the epic Re Jahre litigation is nearing what could prove to be its last, decisive chapter. But don’t hold your breath.
New study shows world's most, least corrupt nations
A new report was published today assessing perceived corruption levels in 180 countries.
North west
Like elsewhere in the country, a buoyant first half helped North West firms ride out the economic slowdown during the past six months.
Norton Rose bags Freshfields green adviser
Norton Rose bags Freshfields green adviser" class="inline_image inline_image_left" src="/pictures/web/images/13679_P5_nortonrose.jpg" /Norton Rose has poached Freshfields Bruckhaus Deringer associate Giedre Kaminskaite-Salters to head the firm’s regulatory and policy practice on climate ...
One for all
Calls for a merger of the Chancery Division and the Commercial Court have right – and the interests of litigants – on their side, says Lawrence Cohen QC
Partners agree to Orrick-Hölters & Elsing merger
US firm Orrick Herrington & Sutcliffe and German firm Hölters & Elsing have sealed their merger after holding partnership votes last week.
Price check
The court system needs to address the high costs of lower-end commercial disputes if it wants to service the business community effectively.
Professional negligence body sets up ATE scheme
The Professional Negligence Lawyers Association (PNLA) has launched the largest after-the-event (ATE) insurance group scheme outside of the personal injury sector.
Profile: Charlie Geffen, Ashurst senior partner
Ashurst senior partner" /Ashurst's new senior partner elect, Charlie Geffen, said today that the future of Ashurst's business lies overseas, pledging a major expansion in Asia.
Profile: Charlie Geffen, Ashurst senior partner
Ashurst's senior partner elect, Charlie Geffen, said that the future of Ashurst's business lies overseas, pledging a major expansion in Asia.
PwC calls on Links as Lehman Bros goes into administration
Linklaters bagged the biggest UK instruction on the Lehman collapse, advising four Pricewaterhouse-Coopers (PwC) partners on the administration of Lehman Brothers International (Europe).
Rival sets take in 25 Castle Street refugees
Liverpool-based criminal chambers 25 Castle Street has been dissolved, leading to its 30 tenants being picked up by rival sets 7 Harrington Street and Chavasse Court Chambers.
Rock steady crew
While DLA Piper is riding out the credit crunch in Wembley Stadium, the firm’s nemesis, Eversheds, is getting its partners to make the music.
Saving grace: Carol Hui, Amey
In these cost-conscious times, there’s a lot to be said for not splashing the cash unnecessarily. And Carol Hui, general counsel of road and rail infrastructure support services giant Amey, couldn’t agree more.
Separated at birth
Television fans will be sad to see Dale Winton leave the medium to take a leap into the world of law.
Shearman Abu Dhabi gains City partner
Shearman & Sterling is seconding one of its London corporate partners to its Abu Dhabi office to strengthen its ties with sovereign wealth fund clients in the region.
Shearman, Wachtell acting on Merrill Lynch takeover
Shearman & Sterling’s New York office advised longstanding client Merrill Lynch on its $50bn (£28.06bn) sale to Bank of America (BofA) over the weekend.
Shearman’s London office scales back its corporate ambitions
Finance remains the focus but grand plan to take on the magic circle bites the dust.
Simmons scores first Lehman hedge fund claim
A team from Simmons & Simmons is advising hedge fund RAB Capital on the first of what is expected to be a series of cases against the European administrators of Lehman Brothers.
Skadden Arps gets Nomura mandate in Lehman Asia buy
Skadden Arps gets Nomura mandate in Lehman Asia buy" /Skadden Arps Slate Meagher & Flom has advised Japanese bank Nomura on its winning auction bid for Lehman Brothers' Asian operations.
Slaughters, De Brauw, Uría unveil to open in Beijing
Slaughter and May has become the latest firm to target China’s fast-growing economy by announcing it is to open an office in Beijing.
South East and London hardest hit as law firm redundancy toll rises to 440
Law firms in the South East and London have laid off more staff than those in any other region in England and Wales, with real estate departments bearing the brunt of the impact.
SRA to probe Da Vinci painting plot solicitor
One of the lawyers charged with attempting to extort £4.25m for the safe return of a Da Vinci masterpiece has had his firm closed down and is being investigated by the Solicitors Regulation Authority (SRA).
SRA training pilots fail to appease market
‘Training contracts to face abolition from Law Soc’ was the headline run by The Lawyer’s student magazine Lawyer 2B in summer 2004. So you would be forgiven for thinking we have been here before.
Strange days
Regular readers will know that Tulkinghorn’s scribes frequently see some rather strange sights at some rather strange parties. A Lycra-clad John Young suspended from the ceiling at a recent Lovells party springs to mind.
Sullivan, Munger Tolles on Buffett Goldman deal
Sullivan & Cromwell and Munger Tolles & Olson have snared the lead roles on Warren Buffett’s $5bn (£2.7bn) cash injection in Goldman Sachs, announced yesterday (23 September).
Sullivan's Cohen grabs role on WaMu's demise
Sullivan & Cromwell chairman Rodgin Cohen has landed a role advising JPMorgan on its acquisition of failed US bank Washington Mutual.
Talent management in the credit crunch: how should law firms handle their staff?
Law firms need to implement solid talent management schemes to get through the credit crunch intact – the main theme at a major London conference organised by The Lawyer.
The bigger bang: who’s got what in the Lehman, HBOS sagas
The groans of the US’s fourth-largest bank and a Scottish heavyweight as they unceremoniously fall to their knees. The rustle of papers in cardboard boxes as they are carried through swishing revolving doors.
The style counsel
Tulkinghorn has often been described as dapper, even wearing nothing but a smoking jacket and a smile. But solicitors and barristers alike have been taking style to new levels.
Trust will be key in Keegan v Newcastle
Football fans have been amazed by the recent high-profile employment conflict between Kevin Keegan and Newcastle United, which resulted in failed late-night discussions at St James’ Park to convince Keegan not to walk out on his job.
UK, USA seen as more corrupt, world study says
Both America and Great Britain are perceived as becoming more corrupt, according to a new world ranking by Transparency International.
Wall St woes: Foul-weather friends
Sullivan & Cromwell chairman Rodgin Cohen has deservedly garnered headline after headline in recent weeks.
Ward Hadaway to cut 30 jobs, delay training contracts
Ward Hadaway to cut 30 jobs, delay training contracts" /North East firm Ward Hadaway will make up to 30 job redundancies, and has deferred the training contracts of two of its 12 trainees by a year.
Wilkie Farr hires Fried Frank's Michael Schlitt
Willkie Farr & Gallagher's Frankfurt office has damaged Fried Frank's German presence with a star partner hire.
Wragge & Co to make 30 lay-offs
Wragge & Co to make 30 lay-offs" /Wragge & Co has launched a consultation to identify 30 redundancies across its Birmingham and London offices.
