25 June 2007
The Lawyer
Hammonds referees Man City takeover
Spot the similarities: a football club that managed the fewest amount of goals at home in history, came perilously close to relegation, sacked its manager and has since seen all of its star players depart; and a law firm that accrued millions of pounds in debt, saw its management removed in a bloodless coup and its star partners depart...
People
Freeth Cartwright has hired Peter Hanson as a partner in its commercial property team. Hanson joins from Davies Arnold Cooper, where he was an equity partner.
Treasury grills private equity fat cats
The great and the… er… good of the private equity world were hauled up in front of the Treasury Select Committee last week to answer questions about their generous tax breaks.
A gay old time at the Lawyer Awards
The glamour! The prestige! The inexplicable campness of the accompanying theme music!
A&O launches in Düsseldorf with former Freshfields boss
Allen & Overy (A&O) has continued its aggressive expansion plans by opening a Düsseldorf office with a former German managing partner from Freshfields Bruckhaus Deringer.
A&O seals Kazakh deal for UniCredit
Allen & Overy has cemented its relationship with Europe's UniCredit Group, advising group member Bank Austria Creditanstalt (BA-CA) on the purchase of Kazakhstan's ATF Bank.
Addleshaws targets better Euro network
Addleshaw Goddard has vowed to strengthen its European network of referral firms after recommendations from key clients at this year's partnership conference.
Aluminium giant Rusal loses capital markets guru ahead of London IPO
An overhaul of the legal in-house team at Russian conglomerate Rusal has seen the coordinating lawyer for its IPO quit just as the company announced its concrete plans to list in London.
ASB Law shrinks hours targets
ASB Law has reduced the number of chargeable hours expected of its partners as part of a review aimed at boosting its depressed revenue.
Ashurst in bid for hedge funds
Ashurst is set to target activist hedge funds in a move it hopes will give it first-mover advantage in the evolving M&A landscape.
Ashurst scores major role on Irish road ppp
A raft of firms has given advice on the design, construction, operation and financing of a toll road in Ireland. An Ashurst infrastructure team led by partners Joss Dare, Patrick Boyle and Lee McDonald advised Celtic Roads Group (CRG) on the financial close of the €354m (£238.92m) M7/M8 Portlaoise PPP project. The project will see 41km of road constructed between Portlaoise and Castletown. CRG received advice on Irish law from Garrett Monaghan at Arthur Cox. ...
BAE bribery saga takes new turn as social groups challenge ruling
Allegations of bribery against BAE Systems have come under renewed scrutiny after two social groups launched a challenge against a High Court decision to prevent a judicial review into the matter.
Bakers, Links land Ferrexpo LSE roles
Baker & McKenzie has advised Ukrainian company Ferrexpo on its London Stock Exchange IPO, while Linklaters acted for the financial advisers on the deal. Ferrexpo mines, processes and sells iron ore in the form of pellets for use in the production of steel. Corporate partners Peter Magyar and Tim Sheddick ...
Baroness Scotland QC appointed attorney general
Former House of Commons leader Jack Straw is to take over as the secretary of state for justice as the new prime minister Gordon Brown shuffles the former lord chancellor Lord Falconer out of his first cabinet.
Barristers get go-ahead to entertain clients
The Bar Standards Board (BSB) has decided against explicitly restricting the extent to which barristers can offer hospitality to solicitors and clients.
Bermuda
Recent laws have altered the make-up of insurance legislation in Bermuda to allow the government greater assessment of the market. By Rod Attride-Stirling and Franki Ganter
Big hitters join dispute resolution panel
The former Lord Chief Justice Lord Woolf and former Court of Appeal Judge Sir Henry Brooke are among the big hitters that have joined a new panel at the Centre of Effective Dispute Resolution (CEDR).
BLG creates associate director level
Barlow Lyde & Gilbert (BLG) has introduced a new management level of associate director in a review of career paths at the firm. BLG made up 36 associates to associate director in the first round, establishing the new role as sitting between associate and partner. The role was created this year as part of BLG's restructuring, which has seen the firm convert to LLP status and appoint a new chief executive, Clint Evans, who will join in July. For the full list of promotions, see ...
BLP poaches CC tax partner
Berwin Leighton Paisner (BLP) has bagged Clifford Chance partner Michael Wistow as its newly-created role of head of tax.
Bracewell shows it allegiance to London
One false start and one soft opening aside, the bunting is now well and truly ready to be hung outside the London office of Bracewell & Giuliani.
British Virgin Islands
The BVI is regarded as one of the world's leading offshore jurisdictions, with derivatieves being a particular strength. By Peter Tarn and Russel Willings
British Virgin Islands
The BVI's new Companies Act has altered the rules for businesses based on the islands and directors must be aware of the changes. By Duncan Smith
CAT raps Sullivan over non-qualified lawyer role
The Competition Appeal Tribunal (CAT) has given US behemoth Sullivan & Cromwell a slap on the wrist over a fundamental procedural rule - and US firms launching private competition litigation practices in the UK should take note.
Cayman Islands
The ability of special-purpose acquisition companies to raise capital very early on in their lifetimes has opened up new opportunities that investors are keen to take advantage of. By Kevin Butler and Richard Fear
Cayman Islands
Cayman is the first offshore jurisdiction to offer digital hedge fund regulation. Mark Lewis reports on the many benefits of e-reporting
CC muscles its way into global LBO elite
Clifford Chance has broken the US's stranglehold on advising global private equity buyouts, making it onto the leveraged buyout (LBO) leaderboard in terms of value in the second quarter of 2007.
CC scores victory for fertility doctor
Clifford Chance won a High Court victory with a decision ruling that raids carried out on two IVF clinics run by fertility doctor Mohamed Taranissi were unlawful.
CC transfers cap markets partner to boost Romania
Clifford Chance is beefing up its fledgling Romanian presence with the transfer of London partner David Eatough to its Bucharest office.
Chadbourne London gets twitchy as WFW merger nears
Watson Farley & Williams (WFW) managing partner Michael Greville and a team of practice group heads flew into New York last week to intensify merger talks with US firm Chadbourne & Parke - talks exclusively revealed by The Lawyer last week (18 June).
Channel Islands
Nearly nine years after its inception, the Channel Islands Stock Exchange is booming. Alan Stevens reports on the reasons why
Chief executives should be business leaders
While the rest of corporate UK has embraced the role of chief executives and understands what the role can bring to corporate development, the more I hear the term spoken in legal circles the more I find it misunderstood or, at worst, abused.
China revolution
Bircham Dyson Bell has become the most recent convert to the Save the Planet campaign.In a revolutionary move, the firm has gone all environmental and ditched its non-biodegradable plastic cups for its drinking water. And it has replaced them with… china mugs.It's the little things that count.
City rivals face off as AKZO targets ici
Freshfields Bruckhaus Deringer and Slaughter and May must be sick of the sight of each other. The firms are squaring up on a bid for ICI, with Slaughters advising Dutch giant Akzo Nobel on its £7.2bn approach and Freshfields getting the nod from ICI. The firm advised the chemicals company on the £1.2bn disposal of its scent business earlier in the year to Swiss company Quest. But the corporate behemoths also came across each other in Bupa's sale of ...
City Young Guns: The youth will out
While lead partners take the credit on large M&A deals, it's the senior associates who run most of them. The Lawyer spoke to 10 such rising stars to get their views on life as a corporate lawyer
Clarke Willmott bolsters real estate practice
Bristol-based Clarke Willmott has raided city rivals for two real estate partners.
College of Law strikes key deal with 30 firms
The College of Law's plan to dominate legal education has moved up a gear after it struck a major deal with 30 law firms to provide a pioneering training programme for its junior corporate lawyers.
Correction
On 14 May , The Lawyer reported that claimants' solicitors had received around £800m from the Government for miners' compensation scheme work. That figure referred to costs for the 30 firms that had reaped the most from the scheme. The total figure now exceeds £1bn. The article also stated that 200,000 claims are waiting to be processed. That figure should have been 185,000. It also said that £1.9bn had been paid out, but the figure was £2bn. The Department of Trade and ...
Deloitte tax partner returns to the bar
Deloitte tax partner Philip Ridgway has returned to the bar, joining Temple Tax Chambers.
Different blokes
Tulkinghorn recently had the pleasure of dinner and drinks with Field Fisher Waterhouse real estate partners Antony Phillips and Edward Bannister.Discussing absent members of the team, your scribe was recommended to meet esteemed colleague Paul Houston."You can't miss him," Bannister said, "he's a six-foot-three, black,
DLA Piper bolsters nascent Warsaw office
CMS Cameron McKenna Warsaw partner Michal Zieniewski is to join two former Squire Sanders & Dempsey partners in DLA Piper's fledgling Warsaw office.
DWS Gulf energy head quits for Baker Botts Dubai role
Denton Wilde Sapte (DWS) head of energy and projects for the Gulf region has left the firm to join Baker Botts in its Dubai office.
DWS, Norton Rose, Trowers scoop first procurement pack model PFI
Denton Wilde Sapte (DWS), Norton Rose and Trowers & Hamlins have all landed key roles advising on a £250m South London PFI project.
Emerging economies
Emerging economies Brazil, Russia, India and China are making full use of offshore jurisdictions. Traditional economic giants such as the US and UK need to keep up, says Daniel Mackelden
Eversheds solicitor bags pharma role
Veterinary pharmaceuticals and services company Dechra Pharmaceuticals has hired Zoe Bamford as its company secretary following the retirement of current company secretary Stephen Whitehouse.
Ex-A&O pair launches mentoring company
Lawyer coaching company Outside Insight has launched, with the former head of legal at ABN Amro Laurie Adams and former Allen & Overy (A&O) partner Jeremy Thomas at the helm. The company offers mentoring to lawyers on their careers and on how to cope with problems in day-to-day work. Thomas was a partner at A&O for 16 years, whereas Adams became a director of French holiday park operator ...
Ex-CBI chief to advise Hugh James
Hugh James" /Leading Welsh firm Hugh James has hired Sir Digby Jones, the former director general of the Confederation of British Industry (CBI), as an adviser to support the firm's growth. Jones spent six years as head of the CBI, stepping down in 2006. Since then he has been acting ...
Farrer bins CEO role in management shift
Farrer & Co has scrapped its CEO role in a shake-up of its senior management structure. Farrers' current CEO Andrew Mills-Baker is standing down after nine years in the role, prompting the search for a chief operating officer (COO) in his stead. The new COO will be charged with implementing firm strategy and leading the support functions. Mills-Baker joined Farrer in June 1998 after nearly 15 years ...
Fox Williams nets AIM specialists
Fox Williams has raided Canadian firm McCarthy Tétrault for a three-lawyer team to create a dedicated AIM group within its corporate practice.
Freshfields and Linklaters scoop Terra Firma infrastructure deal
Freshfields Bruckhaus Deringer and Linklaters advised on the latest infrastructure deal that saw private equity house Terra Firma sell a 50 per cent stake in a German motorway service station operator to Deutsche Bank's infrastructure arm.
Freshfields continues Asian transfers to boost HK
Freshfields Bruckhaus Deringer has continued to beef up its Asian operations through the transfer of partner Stuart Grider from London.
Fujitsu legal team woos Pinsents associate
IT contractor Fujitsu Services has bolstered its private sector in-house team, hiring Pinsent Masons associate Michael Harvey.
Gibraltar
Gibraltar is not only a member of the EU, but the phasing out of its tax-exempt company regime means it now enjoys access to the European Subsidiary Directive. By James Lasry
Going up in smoke
Smokers, the English smoking ban is only a week away (it kicks in this Sunday, 1 July, in case you'd overlooked this seismic event).
Govt calls on SJ Berwin capital funds expertise
SJ Berwin capital funds expertise" /SJ Berwin has landed a role advising the Government on its latest round of enterprise capital funds (ECFs).
Growing up fast
Tulkinghorn would like to offer his thanks to RadcliffesLeBrasseur consultant Robert Bieber for the lift back to Lawyer Towers the other day on the back of his Yamaha Tmax 500cc scooter.
Guardian nets barrister for litigation boost
The Guardian News and Media group has boosted its litigation team with the hire of barrister Korieh Duodu. Duodu leaves David Price Solicitors and Advocates after seven years to join the media group. In the past he has acted on a number of high-profile cases, including acting for former royal butler Paul Burrell against The Sun newspaper. Duodu, who has co-authored two legal textbooks on defamation, will join the group as a specialist in defamation and privacy matters.
Guernsey
The first permanent capital vehicle was launched as a Guernsey limited partnership. Peter Franks reports
Guernsey
A new three-day funds approval regime and the proposal to scrap court involvement in the insurance transfer process makes Guernsey even more appealing to investors. By Christopher Anderson
Halliwells kicks off fraud unit as Keoghs raid lands dedicated team
North West firm Halliwells has scooped a team of fraud specialists from rival firm Keoghs.
Harbottle & Lewis wins star role for BBC talent show winners
Harbottle & Lewis has expanded its relationship with the BBC, advising the finalists of talent show Any Dream Will Do and winning a mandate to do the same for contestants of a reality show to be screened on BBC2 in the autumn.
Herbert Smith leads Saga towards flotation
Herbert Smith has scooped a role advising Saga on its potential IPO.
In-housers call on firms to improve cost management
In-house counsel have high expectations of their external dispute resolution lawyers beyond the outcome of the case, with costs being the most important factor.
Ireland: financial appeal
Ireland has boosted its appeal as a financial centre by making it quicker and easier to gain authorisation for qualifying investor funds. By Brian McDermott and Nollaig Greene
Isle of Man
Following the success of its commercial yacht registry, the Isle of Man is hoping to attract jets to the island with its new aircraft registry. By Faye Moffett
Japan's Atsumi grows international expertise with German hire
Japanese firm Atsumi & Partners has added to its international practice by hiring Andreas Kaiser, its first German lawyer.
Jersey
Jersey boasts an ever-evolving trust law and as such remains at the forefront of the offshore market, says Mark Temple
Judges told to stick to the day job as mediation pilot fails
The controversial pilot scheme in the Technology and Construction Court (TCC) to test whether judges can act as mediators looks doomed to failure after being used just twice during its first year.
Kate Jarvis: O2
The fight against 'slamming' is just one challenge O2 chief legal counsel Kate Jarvis has to take on in the ever-evolving telecoms sector. By Malar Velaigam
Landmark EC decision stops Ryainair's Aer Lingus takeover
The European Commission has blocked Ryanair's hostile €1.48bn (£1bn) bid for Irish airline Aer Lingus on competition grounds.
Last drags at Lovells
Oh the iniquity of it all. Not even lawyers, it seems, are immune to the Government's wide-ranging slashing of civil liberties. For, with less than two days to go before the smoking ban comes into effect, poor Lovells is being forced to shut the door on its skiving... sorry... smoking room for the final time.
Law Soc council member fined over miners' compensation
A Law Society council member has admitted to five breaches of professional rules in relation to his dealing with the coalminers’ compensation scheme.
Let the bar entertain you
Solicitors - put away your chequebooks and pens.
LG weighs up flotation as firms open eyes to Legal Services Bill opportunities
Just because you can do something, does it mean you should? That, in essence, is Lovells' line on whether or not to seek a float or an injection of external capital once the Legal Services Bill becomes law.
Linde lands J&J general counsel
Leading German gas company Linde has appointed Johnson & Johnson assistant general counsel Christian Rau to replace outgoing legal head Nick Deeming. Rau will join the gas and engineering company as its chief legal officer at the beginning of July following an eight-year stint at Johnson & Johnson, during which time he held the head of legal role for Germany, Austria and Switzerland. Deeming will stay on at Linde as a consultant until September after leaving his position as legal ...
Linklaters beefs up Dutch presence with double hire
Linklaters has launched two new Dutch practices - tax and employment - with the hire of Stibbe's head of tax Stef van Weeghel and Simmons & Simmons employment partner Eunice Bruyninckx.
Linklaters gets in on Torex administration
Linklaters has advised on the largest pre-packaged administration in 2007, the sale of troubled software company Torex Retail's operating subsidiaries.
Linklaters returns for second banking raid on Freshfields
Linklaters has scooped a second banking star from archrival Freshfields Bruckhaus Deringer with the capture of partner Brian Gray.
Links appoints financial markets head
Linklaters has appointed partner Michael Kent as the new global head of its financial markets group as the current chief Paul Nelson steps down.
L'Oréal UK counsel quits for new career direction
The general counsel at L'Oréal UK Graeme Akhurst has quit the company to pursue 'personal projects'.
Lovells scoops Eversheds' French corporate head
Eversheds' French corporate head" /Lovells has boosted its Paris private equity practice with the hire of Eversheds French corporate head Pascal de Moidrey.
Lovells’ smokers put out
With less than two days to go until England becomes a smoke-free zone, City law firm Lovells is being forced to close the doors on its smoking room for the last time.
Luxembourg
Luxembourg’s flexible approach to corporate law has given investors a range of tailored fund structures. François Pfister and Stef Oostvogels report
Matthew Arnold ditches bonus for lockstep
Matthew Arnold & Baldwin has scrapped its bonus system this year, choosing instead to focus on remunerating partners through its modified lockstep structure.
Mauritius
A firm but fair regulatory environment is attracting investors into Mauritius. By Malcolm Moller
MBRM, Davenport act on Entertainment buy
Mayer Brown Rowe & Maw (MBRM) and Davenport Lyons have scooped roles advising on Entertainment One's acquisition of the Contender Entertainment Group. The deal is for a total consideration of £49.4m, payable by the issue of 7.4 million ordinary shares in Entertainment One and £42m in cash. MBRM is advising ...
Napthens absorbs two North West boutiques in bid to dominate Lancashire
Preston-based Napthens has acquired two firms to help it achieve its ambition of becoming the dominant legal services provider in Lancashire.
New Square chief takes up place on the bench
New Square Chambers' head Charles Purle QC has joined the bench, paving the way for barrister Rodney Stewart Smith to take over as head of the commercial set.
Newcastle's rising star comes crashing down
Ouach. Just a year after recording City-level average profit per equity partner (PEP) of £712,000, equity partners at Newcastle's Watson Burton are reeling at a PEP plunge of almost half a million pounds. (see story)
Norton Rose mourns death of colleague
Norton Rose is mourning the death of one of its IT managers after he fell from the eighth floor of the firm’s new offices on the south bank of the River Thames.
Offshore
The offshore market slowed down a notch in the first half of 2007 after the flurry of mammoth mergers that typified the past two years.
Old Square race case sees Appeal Court consider two-tier system
Old Square Chambers is heading to the Court of Appeal in a case that could see a two-tier approach to the enforcement of claims in respect of the Race Relations Act 1976.
Orrick raids Katten Muchin to boost real estate practice
Orrick Herrington & Sutcliffe has strengthened its New York office with a double partner hire from Katten Muchin Rosenman.
Profit plummets at Watson Burton
Newcastle's Watson Burton has recorded a breathtaking drop in profitability in the firm's first financial year-end figures since ousting senior partner Andrew Hoyle.
Reed Smith pushes real estate finance with DLA Piper star
Reed Smith Richards Butler has raided the London office of DLA Piper to boost its real estate finance practice.
Regulatory ace joins Freshfields Dubai
Freshfields Bruckhaus Deringer's Dubai office has made a key hire from the emirate's financial regulator.
Research In Motion scraps UK GC role
BlackBerry maker Research In Motion (RIM) has ditched the role of UK general counsel and reshuffled its legal structure.
Revealed: mid-market firms say 'yes' to flotation
Halliwells, LG and Olswang are among an unpre-cedented number of UK firms that are considering flotations or private equity investment once regulations allow.
RJW launches parliamentary team as part of Clementi drive
Russell Jones & Walker (RJW) is to open a new parliamentary and legal affairs department, to be headed by the firm's current head of the trade union services group Fraser Whitehead.
Sackers hires Freshfields pensions expert
Sacker & Partners has beefed up its practice with the hire of Freshfields Bruckhaus Deringer pensions lawyer Ian D’Costa.
Saga-AA merger provides rich pickings for firms
Clifford Chance, Dickson Minto, Travers Smith and Pinsent Masons have played key roles in the £6.15bn merger of Saga and the Automobile ...
Separated at birth
The annual car crash TV that is Big Brother can usually be relied upon to produce a few lawyer lookalikes, but few have been better than cleaner Tracey and Field Fisher Waterhouse (FFW) managing partner Moira Gilmour.
Simmons employment head defects to Farrers
Simmons & Simmons head of international employment William Dawson has quit for Farrer & Co in the wake of the firm's private client team cull last year.
Split and Polish
It's all been kicking off in Warsaw of late. First of all Baker & McKenzie's former local managing partner Tomasz Ujejski was leaving to join Squire Sanders & Dempsey. Then he wasn't. Then he really was (see story). Oh, and ...
Sporting lawyers added to SDRP board
The Sports Dispute Resolution Panel (SDRP) appointed four independent directors to its management board today (29 June).
Sports legend Townley joins Bates Wells
Charity specialist Bates Wells & Braithwaite has hired athletes1 partner Mike Townley as head of its sports law team.
Squire Sanders bolsters New York litigation presence
US firm Squire Sanders & Dempsey has continued its recent hiring spree by taking on a team of litigators for its New York office.
The drone zone
There's a new name doing the rounds for those big four UK firms that sit of the top of The Lawyer UK 200.
The rain event
Thanks are due to Lawrence Graham (oh okay, LG) for laying on the best BBQ of the year so far last Tuesday (19 June).
The Yankee collar
Some offshore financial centres have a reputation as being havens of financial irregularities, but these accusations are unfair, say Christian Hay and Gareth Bell
Trowers wins Law Firm of the Year
Trowers & Hamlins walked away with the prestigious Law Firm of the Year award at The Lawyer Awards last night (26 June).
UK directors should beware the new Companies Act
The International Bar Association Conference held in Rome last month (May) on class actions saw the European legal profession listening in rapt silence to speakers from the US explaining the practical realities of class action funding and resolution. It was interesting to see the preponderance of heavyweight commercial law firms present.
US ally aids Olswang's hedge fund deal
The alliance with Greenberg Traurig gifted Olswang a key role on the landmark $3.4bn (£1.7bn) reverse takeover of hedge fund and Chadbourne & Parke client GLG Partners.
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.
White & Case hires boost capital markets team
White & Case has made a triple hire for its London banking and capital markets group, raiding Allen & Overy (A&O), Cadwalader Wickersham & Taft and the European Bank for Reconstruction and Development (EBRD).
Will Ashurst's review herald a sea change in activist hedge fund work?
Are firms taking a gamble by publicising their work for activist funds? asks Caroline Binham
Work Life Quiz: Simon Hardwick, Halliwells
You shall go to the ball
For those of you for whom partnership is the glittering prize, the first partner retreat is a rite of passage. How could a rookie not get excited about these conferences, with their high-level strategic discussions, dramatic unveiling of the true financials and excellent opportunities to tell the senior partner you've always really, really bloody loved him?
