25 June 2001
The German legal market has receNTLy been gripped by the saga of the draft Takeover Act and the ensuing battle over the European Union Takeover Directive.The point of contention in the discussions was the role of management in planning a defensive move in takeovers. Should the management have a strong role in determining and applying defence mechanisms, or should the decisions be left to the shareholders?Eventually, the German government agreed with the majority of European ...
ABB Equity Ventures, Tomen and Forum groups sell majority shareholding in electricity generator Humber Power to buyers that include TotalFinaElf and Centrica.
Sellers advised by Taylor Joynson Garrett (Dominic FitzPatrick). Humber advised by Clifford Chance and Clyde & Co. Centrica advised by Ashurst Morris Crisp. Forum advised by Herbert Smith on tax. TotalFinaElf advised by Denton Wilde ...
Adaptive advised by Tarlo Lyons (Sarah Collins). Investor syndicate advised by Osborne Clarke (Stephen Wilson).
In one of its largest deals this year, Addleshaw Booth & Co has acted for Europe's largest manufacturer of kitchen interiors Nobia on its £123m acquisition of Magnet Group from Enodis.
Anza advised by Landwell (Alistair Hogarth) and PricewaterhouseCoopers. Vendors advised by Mills & Reeve.
Appeal against summary assessment of costs, Contactreal Limited v Davies and Davies, Court of Appeal, 17 May 2001
The Employment Appeal Tribunal has taken the unusual step of ruling that an appellant should pay costs for bringing an appeal that should never been brought, in line with forthcoming and long awaited Department of Trade and Industry (DTI) regulations.
South East firm ASB Law, formerly known as Argles Stoneham Burstows, has announced a turnover of £13.3m for the first financial year since its three-way merger in November 1999.
BT exchanges on the outsourcing of its UK property portfolio for £2.3bn to TeleReal Holdings, a 50-50 joint venture between Land Securities Trillium and William Pears Family Holdings.
BT advised by Ashurst Morris Crisp (Ian Nisse, Simon Cookson, Anthony Burnett-Scott and David Perks). TeleReal advised by Freshfields Bruckhaus Deringer (Jeffrey Rubinoff, James George).
Short-lived practice fails; founding London partner Francis told to quit; firm to refocus on consultancy
DJ Freeman head of property Susan Hall has no qualms that her firm is replacing maturity with youth. To her, it's all part of the bigger picture
Cadburys advised by Morgan Lewis & Bockius (Charles Engros, Steve Navarro)....
This deal is a tap issue from last year's securitisation of Canary Wharf Finance II. With the same vehicle being used to issue the bonds, it is logical that the players have remained the same. The transaction is the first securitisation on uncompleted buildings, and the rating agencies had to account for the construction risks. To balance the increased risk, all the buildings are subject to binding agreements for leases by the lead managers, which means that if the completion of the ...
The Foreign & Commonwealth Office (FCO) will contact UK lawyers this week and ask them to join a new panel giving pro bono advice to British prisoners overseas.
CMS Derks Star Busmann Hanotiau is to lose its Belgian name partners when the firm’s Brussels-based arbitration and litigation team leaves to set up a new practice in the autumn.
PFI specialist Russell Jarvis has joined Manchester firm Cobbetts from the Leeds office of Berrymans Lace Mawer.
In these high-tech days, where law firms are gearing up with the latest online dealrooms, desktop operating systems and the like, it seems that Berwin Leighton Paisner has stolen a march on its rivals with its latest piece of gadgetry. The firm has set up a webcam in its new trendy in-house restaurant Alibi. It is trained on the queue so that lawyers can go on the web and check out the ...
Poor old Clifford Chance. The competition practice has hardly been having an easy time of it recently, what with head of department Chris Bright jumping ship to join Shearman & Sterling and now its highest profile piece of work is falling apart around its ears. To say that it should have foreseen the ...
Klegal, the KPMG-associated law firm, is really getting to grips with the provision of legal services, in particular the concept of supply and demand. A press release was sent out last week announcing that the firm had recruited to its employment department Guy Abbiss from the London office of Jones Day Reavis & Pogue. All well and good so far, but why was the firm recruiting? Stephen Levinson, joint ...
With ADR and the CPR reducing claims in the Commercial Court and investment going ahead, Raymond Cox and Patrick Goodall examine the changing role of the court
In a transaction thought to be the largest biotech funding in UK history, KLegal acted for Cyclacel to raise £34m. The team advising the Scottish-based cancer therapeutics company was led by Patrick Martin. The funding involved the subscription for preferred shares by a syndicate of investors led by Invesco Private Capital and included investors such as the Singapore government. Martin said that one of the biggest issues was coordinating the different parties. The lead investor was ...
The tale of sisters Anna and Della Burnside is less one of separated at birth than inseparable since birth. The identical twins (below) have just been made partners in the same month, Anna in the private client department of Penningtons and Della, an intellectual property litigator, at Osborne Clarke.They ...
Duane Morris' merger proves that US/UK links can work
In a move thought to be a first for UK law firms, regional firm Davies Wallis Foyster (DWF) has launched an executive resourcing division in a bid to increase the services it can offer its clients.
The head of New York firm Milbank Tweed Hadley & McCloy's technology practice is rejoining the firm in the same role after more than a year as a venture capitalist.
The Lawrence Graham partner who has left the country amid allegations of financial wrongdoing says he will come back to the UK when asked to do so, and that he will not risk extradition.
Fuji Bank issues Kronor 5,590m (£377.7m) senior and mezzanine debt facilities to finance the acquisition of the leisure appliances business of Electrolux by EQT Northern Europe.
Fuji advised by Norton Rose (Tim Polglase) and Mannheimer Swartling (Thomas Pettersson). EQT advised by Vinge (Bo Adrianzon, Hans Wibom).
Tulkinghorn is launching a campaign of naming and shaming in an effort to eradicate lawyers' bullyboy tactics, and in the dock this week are the members of Theodore Goddard's softball team.A new partner at Watson Farley & Williams, Ian Rose, has a narrow boat moored at Regent's Park and often takes his dog, Flossy (above), for a walk there. He recently encountered ...
French firm Gide Loyrette Nouel is opening an office in Tunisia - the first international law firm to break into the country.
Go, the budget airline sold by British Airways (BA) to 3i, is in the market for legal advice.None of the legal advisers involved in the sell-off have been kept on. "The company is still finalising details of its new status. It will have to decide what to do on this matter," said Ashurst Morris Crisp private equity partner Charlie Geffen, who advised Go's management team, led by Barbara Cassani.
Finance partners defect; Hammonds' deBT recovery department boosted
Hammond Suddards Edge has announced its first set of post-merger profits.
Henderson Global Investors acquires Alder Castle House, London EC2, on behalf of Pearl Assurance for £59m from Argent Estates.
Henderson Global Investors advised by Nicholson Graham & Jones (Wayne Smith, Melanie Curtis). Argent Estates advised by Lovells (Andrew Sanders).
Herbert Smith has come out on top in the current Independent Insurance collapse.
Ilkeston advised by Addleshaw Booth & Co (Adam Bennett). Derbyshire advised by Edwards Geldard (Roman Surma).
In-house lawyers in the North and the Midlands are seeing their salaries rise at the same rate as their Southern counterparts.
Chicago firm Kirkland & Ellis is merging with Los Angeles (LA) boutique Wynne Spiegel Itkin, adding a bankruptcy capability on the West Coast for the first time.
Lawrence Graham has pulled off two parallel pub sale transactions for one of its biggest clients, Scottish & Newcastle.The firm advised on the disposal of 646 pubs, worth a total of £361m, to Enterprise Inns and a newly-formed special purpose vehicle managed by Noble House Leisure. Enterprise was advised by CMS ...
Some refuge the US firms have turned out to be. For many City lawyers, the Americans originally represented a perfect escape route from partnership politics, firm bureaucracy and stale thinking. Yet in many cases it was a mirage. There is no such thing as unending resources from a rich US parent; combine that with an overoptimistic assessment on the part of some UK partners concerning how quickly they can develop a sustainable business, and you have what might be charitably described ...
Korean firms Lee & Ko and Park & Partners have merged, creating the country's second-largest law firm.
It is nearly a year since the Solicitors' Indemnity Fund disappeared and law firms were thrown into the open market. Gareth Chadwick asks whether the new system is working
The demise of the Solicitors' Indemnity Fund not only opened the market for insurers but also the law firms that wanted a place on their panels. Jon Robins reports
Nabarro Nathanson is dropping its private client department, which Farrer & Co has picked up.
North East firm Watson Burton has redefined its management strategy with the appointment of its first managing director.
A round up of stories from the UK and around the world
Robin Tutty has left Fox Williams, where he was a partner, to become joint head of insolvency at Nicholson Graham & Jones.
Norton Rose's property department has won two new clients following the appointment of former Ashurst Morris Crisp senior assistant Raj Mangat as partner.
Olswang is cutting down on trainee recruitment and retention, bucking the general trend among law firms to keep these figures static.
Unable to adopt the simple expedient of "hanging all the lawyers", the Office of Fair Trading (OFT) report into the professions earlier this year came up with a series of recommendations, such as allowing direct access to the bar and allowing barristers to form partnerships. While these are familiar proposals, it is disappointing that they should come from such a source as the OFT.A point missed in the reams of copy devoted to analysing the report and its implications was that ...
Yet another Wessing partner has quit the firm - but has not followed his 15 former colleagues to Andersen Luther.
The London office of US firm Squire Sanders & Dempsey is launching a hospitality and leisure practice with a new partner from PricewaterhouseCoopers (PwC).
This July the House of Lords is expected to rule on a conveyancing solicitor's duty to a wife who may be subject to her husband's undue influence. At stake is the whole nature of a high street solicitor's role in the 21st Century
Shepherd & Wedderburn is opening a permanent office in London to service its technology, media and telecommunications (TMT) clients.
Singapore's legal fraternity is considering proposals for further liberalisation of the legal sector.
Sovereign Capital advised by Gouldens (Michael Nouril). Capcon advised by Gold Mann & Co (Mark Hartley).
Studio Legale Sutti (SLS) has signed its first international merger agreement, teaming up with Bulgarian law firm Varadinov & Co.
Risk is an inherent part of a solicitor's everyday business, but there are procedures that can be put in place to keep your liability safely out of harm's reach. Peter Scott reports
Teenage website mykindaplace.com completes second round of financing from investors including BskyB and venture capital firm Eurovestech.
Mykindaplace.com advised by Altheimer & Gray (Nick Davis). Eurovestech advised by SJ Berwin (Delphine Currie). BskyB advised in-house.
Working in the public sector takes a different type of lawyer, one whose priorities lie in the work rather than in the remunerative aspects of the job. Naomi Rovnick meets one such lawyer, the head of legal at Worcestershire County Council
Clifford Chance is allying itself with LawCommerce.com and a host of top US firms to try to develop a uniform standard for online deal rooms.
This major restructuring deal is Nabarro Nathanson's largest transaction for the Topland Group to date. Property partner John Samson has been working for the group on its more complex property transactions for some time and the firm has provided ongoing structuring and financing advice. The relationship was further consolidated when the group appointed Pat Bamford of Associated British Ports (ABP) as its ...
UBS Warburg is hiring a European general counsel. The post has been vacant for nearly a year.
Birmingham's Wragge & Co is making waves as far away as the City with the success of its sector-based strategy. Can it now do the same for its global plans? Fiona Callister reports