27 July 2009
Having undoubtedly proven itself to be one of the world’s pre-eminent financial centres, the British Virgin Islands are a striking benchmark of the global economic downturn. By Andrew Willins
Offshore purpose trusts have come into their own as a flexible legal vehicle, with most centres now embracing them in one form or another. By Samantha Morgan and Philip Munro
BAA is poised to carry out a review of its external legal advisers following the recent appointment of Carol Hui as the airport operator’s general counsel.
Mark Elliott has been appointed as global general counsel for commodities at Bank of America Merrill Lynch.
Birmingham City Council has restructured its legal team, appointing David Tatlow to the newly created role of director of legal services.
Equity partners average £65,000 - less than their fixed-share comrades
Berwin Leighton Paisner (BLP) spent in the region of £10m on its international expansion during the 2008-09 financial year, The Lawyer can reveal, but top earners have been unaffected by the resultant drop in profitability.
The Bar Standard Board’s (BSB) plan to introduce a compulsory aptitude test for entry onto the BVC has been thrown into disarray after the Office of Fair Trading (OFT) dubbed the move anticompetitive.
?After scouring London for the perfect home, Cadwalader Wickersham & Taft has found a new UK base.
Former Clifford Chance Italy co-managing partner Luigi Chessa has left the magic circle firm.
Clifford Chance is examining its options in Turkey after establishing a toehold in the country, The Lawyer can reveal.
Private equity is having to dig deep and explore all avenues during these testing times. Richard Addlestone provides an insight into the current market
A survey by the Solicitors Regulation Authority has found that disabled people are in general less satisfied with the service they receive from lawyers than other consumers.
DLA Piper has chosen Brussels- based partner Steven De Keyser to head its Paris office following Bruce Mee’s retirement from the role.
DLA Piper chief executive Sir Nigel Knowles has taken a paycut of £100,000 following a challenging calendar year for the world’s largest firm by headcount.
Dundas & Wilson experienced a 20 per cent drop in average profit per equity partner over the past financial year, but continued to operate with a relatively high profit margin.
Sacked partner takes US firm to court over unrealistic billing expectations.
Jersey’s new law relating to the creation of foundations as an alternative to trusts confers many benefits on clients more familiar with operating under civil law. By Alex Ruffel and Phil Howarth
How Beachcroft quietly propelled four of its top lawyers into the most influential policy roles in the legal profession
The English concept of trusts has remained relatively unchanged, but offshore and US ‘advancements’ to make them more commercial throw up some tricky questions for legislators. By James Corbett QC
Indian firm FoxMandal Little (FML) has not paid a number of its Delhi lawyers for at least a month due to cashflow problems.
Midlands-based Freeth Cartwright has posted an average profit per equity partner (PEP) of £150,000, a 36 per cent drop on the previous financial year’s PEP of £233,000. Turnover at the firm fell by 3 per cent to hit £32.5m.
Russian steel giant Mechel has secured a deal to refinance $2.6bn (£1.58bn) of its short-term debt, leading to mandates for Gide Loyrette Nouel and Linklaters.
The new government report on social mobility, which singles out the legal profession as being closed to those from poorer backgrounds, sparked a predictable backlash on TheLawyer.com.
Jersey’s introduction of a variety of new limited partnerships bestows upon the investor an unrivalled flexibility. By Ben Robins
King & Wood has merged with Hong Kong firm Arculli Fong & Ng, becoming the first People’s Republic of China practice to launch in the former UK dependent territory.
LG has posted a 35 per cent drop in profit per equity partner (PEP) for the 2008-09 financial year, with equity partners taking home an average of £281,000 - down from £430,000 the previous year.
Linklaters’ hire of ex-Clifford Chance partner Kolja von Bismarck has transformed the German restructuring market at a stroke.
A group of UK and US firms has landed key roles advising on the $2.1bn (£1.28bn) recapitalisation of the Icelandic banking sector.
Nabarro has advised longstanding client Land Securities on one of the largest property sales in the West End so far this year.
Ireland’s funds industry has been positively thriving so far this year, cashing in on the global trend towards exchange-traded funds. Barry McGrath and Elaine Keane report
Taylor Wessing’s new managing partner Tim Eyles has set up a ‘change group’ to look into opportunities arising from the Legal Services Act (LSA).
?Much has been written about how the UK needs to become a low-carbon economy, but less about how that will be achieved. On 15 July the Government provided some answers.
The multibillion-dollar Madoff scandal has shaken Wall Street to its core, but the fallout will be felt far outside the US. By Phillip Kite
The Jersey Court of Appeal ruling in Leeds United v AdMatch dismantles the protectionism evidenced by security for costs payments on the island. By Philip Sinel
The notion of partners earning less than their associates has always been the stuff of legend. In the terrible slump of the 1990s there was a number of firms where, it was whispered, the senior associates took home more than their bosses.
Reynolds Porter Chamberlain (RPC) has hired three new partners.
Pinsent Masons and Salans were considering carrying out a merger, but ruled it out in the short term because of the financial cost, The Lawyer understands.
Between winding down Sellafield and overseeing a £70bn nuclear waste clean-up, the interim legal head of the Nuclear Decommissioning Authority Roger Clayson has his hands full. Corinne McPartland reports
Walkers global managing partner Grant Stein is not about to shrink in the face of bad press against offshore firms or the current economic difficulties. He’s seen it all before and is confident his firm is well-equipped to thrive globally. By Katy Dowell
Schillings has teamed up with US firm Akin Gump Strauss Hauer & Feld to tackle the issue of enforcing UK court orders in the US.
Confidentiality and transparency are the new watchwords of the global financial community. Peter Niven looks at how Guernsey is responding
Sprecher Grier Halberstam (SGH) was founded in 1984 by David Sprecher and Ian Grier and has now grown to a 25-partner commercial practice.
Teacher Stern Selby has advised on footballer Carlos Tevez’s transfer to Manchester City FC.
Guernsey’s transparent and sensibly regulated regime, geographical location and wealth of on-the-ground expertise make it a safe bet for the domiciliation of hedge funds. By Gavin Farrell
UK firms’ corporate patronage is not as appealing as some might suppose, says Kian Ganz
A report, chaired by social mobility czar Alan Milburn, has called on the legal industry to remove the barriers preventing those from poorer backgrounds joining the profession.
Cayman, Bermuda and the BVI are the ideal jurisdictions for Brazilian companies to turn to when they need sophisticated financial products. By Alan Dickson
Starr & Partners. If you don’t know this lot then let Tulkinghorn tell you that it’s a London-based commercial law firm.
Turnover has remained steady at Bond Pearce over the 2008-09 financial year, with the firm bringing in £48m, equal to 2007-08’s figure.
What was your first-ever job?I was the junior member and the only man in a large team of women slicing bacon in a meat factory in Wakefield, West Yorks. I learned everything you need to know about life during that period - as well as more jokes about pork than I’d care to remember.