26 May 2003
The Lawyer
10 per cent of fee-earners get chop at Jones Day Gouldens
Jones Day Gouldens is slashing 10 per cent of its fee-earning staff in London as it becomes the latest City firm to institute a redundancy programme.
4 Essex Court boosts commercial by four
The chambers of 4 Pump Court has been hit by the loss of three tenants, including respected commercial specialist Lindsay Boswell QC, to shipping and commercial chambers 4 Essex Court, which has also hired the eminent Littleton Chambers silk Julian Malins QC.
Allen & Overy offers jobs for all in restructuring to offset downturn
In an innovative alternative to the redundancy programmes initiated at some other City firms, Allen & Overy (A&O) is trying to redeploy an unlimited number of assistants from across the firm into its burgeoning restructuring department.
Altheimer loses another partner as costs mount
Altheimer & Gray’s London office is costing between $2m (£1.2m) and $2.5m (£1.5m) over the last financial year as the firm suffers another partner defection, this time to Howard Kennedy.
Belgium gains e100m to build new courts
The European Invest-ment Bank is advancing e100m (£71.2m) to Belgium to help fund the construction of two large judicial complexes in Liège and Mons. Each project will receive a e50m loan.
Bond Pearce gains a slice of Amerada with Stockley hire
Regional firm Bond Pearce has gained a foothold with US oil and gas corporation Amerada Hess after hiring a senior legal counsel from its UK subsidiary.
Brodies hikes turnover by sixteen per cent
Scottish firm Brodies has reported a16 per cent rise in turnover. The firm recorded a total fee income of £14.6m in the last financial year.The growth is attributed to significant instructions in Scotland received over the past year, including advising the Strategic Rail Authority on the reletting of the ScotRail franchise, acting for the Ministry of Defence on the outsourcing of engineering ...
Burges Salmon hooks up with Serco on Merseyrail project
Burges Salmon has won leading engineering outsourcer Serco as a new client on the back of its fledgling relationship with Dutch national rail operator NedRailways.The Bristol-based firm advised a joint venture between the two companies on their successful bid for Merseyrail Electrics, having advised NedRailways on an earlier franchise bid.The deal means that Serco and NedRailways ...
CC’s Wrigley takes pay cut to smooth over Italian unrest
Clifford Chance dumps additional units in favour of a pure lockstep in Italy
Charlton athletic
What a generous chap Clifford Chance’s Peter Charlton is. Tulkinghorn hears that the Clifford Chance London managing partner is simply giving away jobs. Why, just last week at an industry shindig Charlton re-portedly swa-yed up to Herbert Smith PR guru Alex Charlwood and demanded to know who he was. “Alex Charlwood,” the raven-haired chap re-plied. But before Alex could say ...
Chief executive quits Bevan Ashford
Bevan Ashford’s non-lawyer chief executive Ann Conway-Hughes has resigned after just 18 months in the role.
City private equity firms scramble for pole position with Apax
Top private equity firm Apax Partners is considering setting up its first ever legal panel, which could see key advisers left out in the cold.
Cobbetts in Brussels alliance
Leeds and Manchester firm Cobbetts has formed an EU alliance with Brussels competition and trade law specialist Stanbrook & Hooper.
Cold Toddi
Tulkinghorn is saddened to tell you that one of the rare pets that has featured on this page, celebrity lawyer Henri Brandman’s Llasa Apso, Toddi, has passed away. Toddi has accompanied Brandman to hundreds of meetings, conference venues and court cases. It is truly the end of an era, criminal barrister Samantha Riggs told Tulkinghorn. A cartoonist client of Brandman now plans to immortalise Toddi’s life in a book and newspaper series. Black armbands all round.
Corporate deals round-up
Freshfields Bruckhaus Deringer (Burkhard Bastuck, Marc Reysen) advised Apex Speciality Materials on the sale of its European business to funds advised by the UK-based private equity sponsor Granville Baird Capital Partners. Hammonds, Herbert Smith, Gleiss Lutz and Stibbe acted for Granville Baird.
Corporate team returns to Colin Ng
Colin Ng & Partners has wooed back a team of three corporate lawyers that left a year ago to join local rival Khattar Wong & Partners. The team is led by partner Tan Min-Li, who returns to co-head the firm’s corporate finance practice. First revealed on www.thelawyer.com/lawyernews, 20 May
Covington hire boosts life sciences team
Covington & Burling’s London office has bolstered its life sciences practice by recruiting a regulatory specialist from Lovells.Gabrielle Turner joins Covington as special counsel, becoming part of its eight-strong team in London, which is headed up by Richard Kingham, who splits his time between the UK and Washington. There are around 40 lawyers dedicated to this area throughout the firm. During her career, Turner has been seconded to the Office of the Solicitor ...
Date set for the Deacons-White & Case Hong Kong showdown
The controversial action by Deacons against White & Case and two of its former partners is due to be heard in the Hong Kong High Court next Monday (2 June).
Dechert scoops 2003’s first UK biotech IPO
Dechert has advised on the first biotech IPO to get away in the UK this year. London partner David Vogel led the team that advised Yesterday BioProgress plc on its admission to AIM. The company’s subsidiary BioProgress Technology International Inc was previously listed on the US’s Over the Counter Bulletin Board, but as part of the deal all its existing shareholders swapped their US shares ...
Dechert scoops Wella litigation
Dechert’s one-partner Frankfurt outpost has bagged one of the most important pieces of litigation in Germany – Elliot Associates’ challenge to Procter & Gamble’s E3.2bn (£2.3bn) takeover of Wella.
DLA hires locals from Singapore alliance member
DLA has continued its assault on Asia, taking on 12 lawyers this week from J Koh & Co, the Singapore member of its international alliance – a move that not only boosts numbers in the Singapore office, but also gives the firm a presence in Thailand.
Drax hires Dynegy star as legal head
Troubled energy company brings in new blood to negotiate rescue package
EU accession co-op plans expansion
Polish firm Wardynski & Partners, the Czech Republic’s Kocian Solc Balastik and Cechova Rakovsky from the Slovak Republic have initiated ambitious plans to expand their international alliance following the launch of a Brussels office.
Eversheds and DLA neck-and-neck in turnover growth
DLA and Eversheds continue to record strong growths in turnover, with the national rivals posting 15 and 13 per cent increases respectively.
Field Fisher merges property into single entity
Field Fisher Waterhouse has merged its two property groups into one. New head of property Moira Gilmour said the divisions, which saw the practice split into a hotels and leisure group and an industrial group, were largely historic. First revealed on www.thelawyer.com/lawyernews, 20 May
Frankfurt court refuses to make preliminary ruling in Wella row
The Higher Regional Court in Frankfurt has declined to make a preliminary ruling in the high-profile Wella case. US hedge fund Elliot Associates, represented by Dechert’s fledgling Frankfurt office, is contesting financial regulator BaFin’s decision on the share price in Procter & Gamble’s Wella takeover.Elliot Associates, which holds non-voting preference shares, claims ...
Fried Frank partner defects to Kirkland
Fried Frank Harris Shriver & Jacobson has lost its second corporate partner to Kirkland & Ellis just weeks after talks with Ashurst Morris Crisp fell through. Thomas Christopher is joining Kirkland one month after Stephen Fraidin, one of Fried Frank’s most senior partners, left for the same firm. First revealed ...
From Faking It to rakin’ it
Tulkinghorn is delighted to hear that former Ministry of Sound MC and Freshfields associate George Lubega has returned to the law with Masons. Lubega shot to fame on Channel 4 reality TV show Faking It and took the opportunity to get the hell out of Freshfields. In fact, he got so far out of Freshfields that he ended up in Australia. After six months of holidaying in exotic locations, Lubega returned to the UK to resume his career in the courts. He admits that he wasn’t ...
Gage slams lawyers for high costs
Claimant lawyers acting in the organ retention litigation were slammed in the High Court last week for overestimating the number of hours they would spend in preparation and during the trial.
Government urges pro bono protocol
The Government is asking law firms to sign up to a pro bono protocol that for the first time defines what legal pro bono should be.
Great strategy
Everybody knows those magic circle firms are always looking for ways to take over the world. It’s therefore not surprising to learn that Allen & Overy has hired new marketing director Partha Bose. Tulkinghorn can reveal that Bose actually received the offer not just for his marketing skills, but because he has recently published a book entitled Alexander the Great’s Art of Strategy. Rumours that the management board received free copies with relevant highlighted ...
Holman Fenwick votes in management
Holman Fenwick & Willan has elected partners for its restructured management group. This follows the election of Greg Gray to the firm’s new position of managing partner. Hugh Livingstone now heads the shipping group, Noel Campbell the commercial practice group, former member of the House of Lords Robin Byron leads the trade and energy group, and Paul Wordley insurance, professional negligence and environmental litigation.
Indian merger creates Delhi and Mumbai heavyweight
Two of India’s largest law firms have merged, creating one of the few firms with a strong presence in Delhi and Mumbai.
International chair quits Altheimer & Gray
Louis Goldman, the partner primarily responsible for Altheimer & Gray’s expansion in Europe, has resigned as the firm continues its internal restructure. It is understood that responsibility for the firm’s international expansion is to become part of managing partner Jeffrey Smith’s remit. It is not clear whether this was the reason for Goldman’s decision. First revealed on www.thelawyer. com/lawyernews, 21 May
Investment banks v law firms: who wears the trousers?
Banks may not be the ideal clients that they first appear, as Dearbail Jordan reports
Jacksons to split in two within months
North East firm Jacksons has announced that it is splitting its core areas of business into two new firms, with effect from 1 September.
Kennedys wins Lawrence Graham chief
Lawrence Graham’s head of construction Alan Hart has moved to Kennedys. Hart said he left Lawrence Graham to look for new challenges. Kennedys has also made construction lawyer Sushma MacGeoch a partner in the group. First revealed on www.thelawyer.com/lawyernews 20 May
Law Soc to pay council members
The Law Society has committted £300,000 to fund allowances for its council members, the majority of whom are senior solicitors with comfortable incomes.
Leader
The £220m sale and leaseback of the Inland Revenue and Customs & Excise property portfolio, known as the Steps deal, used to be a matter of pride for Lovells. The deal with Mapeley, on which it advised the Government, confirmed Lovells’ place at the cutting edge of the property outsourcing market. Three years on, it has turned into a tale of tax havens, misinformation and poor project management.
Legal alliance set to drop Ernst & Young from its title
The European legal network of Ernst & Young (EY) is considering a total rebrand that will drop its Ernst & Young title. The network, which is currently called the Ernst & Young Law Alliance, will drop the full name of the accountancy firm in a bid to avoid regulatory hurdles that beset it in many key jurisdictions, including France, Germany and Spain.
Legal head departs Cable & Wireless
Cable & Wireless’ global head of legal Dan Fitz is the latest victim of the ongoing management shake-up at the organisation.
Legal Widow
The Lawyer likes to play a cruel game with trainees who aren’t sure of being retained. It’s called: “What you could do if you never make it as a lawyer
Linklaters advises Investec on SA ‘black empowerment’ deals
Linklaters has advised the first South African financial services company to divest its stock to black empowerment investors. The magic circle firm hopes it will get a series of black empowerment deals from South African clients, in what is otherwise a quiet market.
Linklaters scoops Terra Firma as CC conflicted
Linklaters has scooped Terra Firma’s mandate on its proposed £100m rescue plan for Le Meridien after its magic circle rivals were conflicted out.
Littman left in lurch by walkouts
Littman Chambers has been decimated by a mass exodus, leaving just three tenants from a previous high of 24 to hold the fort.
Macfarlanes helps Cordiant to fight off Cerberus bid
Macfarlanes has come to the aid of longstanding client Cordiant Communications, the advertising group that was plunged into crisis when one of its key clients, Allied Domecq, withdrew its account.
Maclay boosts London with Boodle corporate head
Scottish firm Maclay Murray & Spens has bolstered its London-based corporate practice with the appointment of the head of Boodle Hatfield’s corporate department Jonathan Brooks.Brooks specialises in a wide range of work for private companies and joint ventures with particular focus in the healthcare, financial services, computer software and e-commerce sectors. A significant part of his practice also involves inward investment, frequently acting for US and other international ...
Mills & Reeve promotes three to partnership
Mills & Reeve has promoted Bridget Archibald, Nick Finlayson-Brown and Sarah Seed to partners in its Cambridge office. Its Birmingham office has hired Gary Smith of Wragge & Co, while its Norwich office has appointed Greg Gibson from Warner Bros.
Non-WTO compliance signals danger for EU
Companies and citizens may be able to sue European governments and EU institutions for failing to abide by World Trade Organization (WTO) rulings if the European Court of Justice (ECJ) approves a formal opinion from one of its advocate generals.
Norwegian lawyer comes a cropper in Machiavellian domain name swindle
A lawyer at Pricewater-houseCoopers’ (PwC) Norwegian law firm has been fired after pinching the internet domain name of two PwC clients.
O2 legal chief set to sack 25 firms
Two-thirds of external advisers to go as Sanna overhauls entire legal function
Oil change
The big fish in the North Sea’s oil trade have found the time is right to let their diminishing assets filter down to some of the smaller players. Paul Griffin reports
Opinion
People are the main asset of any law firm, but they are also its biggest overhead. So in tough economic conditions, how do law firms balance profitability against other less tangible factors that indicate the health and success of a firm?
Peroni bidding war opens Italian doors for Lovells & Freshfields
Lovells’ fledgling Italian office has interrupted a 35-year relationship by replacing Carnelutti as Italian brewer Peroni’s main corporate adviser, while Freshfields’ relationship with platinum Linklaters client Scottish & Newcastle, as first revealed in The Lawyer (5 May), has received another boost.
Profits per equity partner drop at Field Fisher
Field Fisher Waterhouse has reported an 8 per cent drop in average profits per equity partner, even though its turnover has risen by 3 per cent. The firm’s turnover last year was £43.9m, while average profits per equity partner were £290,000.
Public defence
When it came to a toss-up between the rights of the individual against the public interest a compromise had to be reached. Jeremy Hyam reports on a recent MoD nuisance case
Seddon returns to DLA as Edinburgh head
DLA has re-hired former Birmingham managing partner Nick Seddon from computer games developer Kaboom Studios to head up the firm’s Edinburgh office. Seddon replaces Michael Collins, who is taking over as office managing partner in Glasgow. Collins in turn replaces Gordon Hollerin who will return to fee-earning work. DLA is still aiming to further grow the Scottish practice, which has increased its turnover by 69 per cent in the last three years following its merger with Bird Semple ...
Shaw Pittman exits spark hiring push
The London office of US firm Shaw Pittman has been hit by a stampede of associates following recently departed partners Andrew Moyle and Jennifer Matt-ingly, but the office plans to bounce back with a bold new strategy.
Sitting Whitty
From the glory days of two million members to the doldrums of the Thatcher years, Fergus Whitty has seen it all during his time as T&G legal director. Steve Hoare finds out where it’s at now
Sprecher Grier Halberstam
Sprecher Grier is a rarity – it’s happy with things just as they are
Stamford Law Corp opens in China
Stamford Law Corporation is launching in Beijing and Guangzhou, following a bulk hire of Chinese specialist lawyers from rival Singapore firm Colin Ng & Partners.
Staying power
He’s a perfect gentleman and one of the top defamation lawyers. How will Martin Kramer fit in at the new Addleshaw Goddard? asks Naomi Rovnick
Stepford lawyers
While some shipping firms have undergone something of an image overhaul recently (Holman Fenwick & Willan, for example, has just had a full inner and outer body scrub by Hildebrandt), others appear to be hanging on to their old-fashioned looks. Shaw and Croft is an obvious example, reflected in the sober photographs of its lawyers who appear on its website. None of the cheesy, multi-angled looks you expect on corporatised law firms’ websites; these are images of solid, ...
TAG’s non-lawyered CFAs get Appeal Court backing
A scheme set up by The Accident Group (Tag), under which a non-lawyer handles conditional fee arrangements (CFAs), has been vindicated for the second time by the Court of Appeal.
The final push
When Dentons axed seventy staff last month it was the biggest redundancy programme in the City. Or was it? Jon Robins asks whether Dentons’ upfront approach is preferable to the sniper tactics of some of the other firms
The lie of the land
With uncertain liabilities, the development of brownfield land is a risky business. Paul Davies and Andrew Jackson say that legislation should be changed to encourage more investment
The story so far
Last week The Lawyer reported that ABN Amro had replaced Allen & Overy (A&O) as its adviser in the ongoing Safeway battle, after the Dutch investment bank’s bidder Wm Morrison discovered that the magic circle firm was also acting for two opposing parties. A&O had set up Chinese walls so that a separate team could advise Wal-Mart’s financial adviser Dresdner Kleinwort Wasserstein. Denton Wilde Sapte has now scooped the work for ABN Amro.Head of corporate ...
Watford FC substitutes Eversheds for Mishcons in Vialli battle
Watford Football Club has ditched Eversheds for Mishcon de Reya to fight the £2m claim brought by its former coach Gianluca Vialli.The case has been passed to Mishcons’ respected employment and media lawyer James Libson, who successfully defended Penguin against historian David Irving’s defamation ...
Watson Farley lures two from Weil Gotshal, Paris
Watson Farley & Williams Paris has hired with two partners, Gilles Cervoni and Lucien Rapp, from the new Paris office of Weil Gotshal & Manges. The departures come only five months after Weil Gotshal merged with Serra Leavy & Cazals, where Cervoni and Rapp were both partners.
Watson Farley Paris departures up profits
In an ironic twist, the departure of Watson Farley & Williams’ Paris office to Orrick Herrington & Sutcliffe has resulted in the UK firm posting a slight increase in profits for the last financial year.
Winston & Strawn launches in London
Chicago’s Winston & Strawn has finally made the leap into London after taking on two partners from Morgan Lewis & Bockius to open a local office. As predicted by The Lawyer (October 21, 2002), the firm’s UK base will focus on corporate and transactional work. US-qualified partner Thomas Benz has experience in securities, while UK-qualified partner Zoe Ashcroft hails from a business transactional background. According to Peter Wallace, head of Morgan Lewis’s ...
