27 June 2005
The Lawyer
Deals round-up
Duane Morris is advising longstanding client Cannon Avent Group, the provider of baby care products, in the restructuring of the group's businesses and the sale of its baby care division to Charterhouse Capital Partners for £300m. The group is also demerging the Cannon-branded rubber car floor mats manufacturing business from its baby care division. Nabarro Nathanson is acting for the majority shareholders ...
Hammonds invites Leeds partner to join board
Hammonds' Leeds partner Catherine McKenna has been elected to the firm's partnership board, replacing Patrick Somers, who is leaving the firm for Berwin Leighton Paisner. McKenna, a partner at Hammonds for nine years, heads the firm's pensions practice based in Leeds. She joins fellow partners Bernhard Gilbey, Konstantinos Adamantopoulos and Frank Walter-von Gierke on the board. Her term ...
5 Raymond Buildings boosts IP with new tenant
5 Raymond Buildings has hired a new junior tenant from Stone Chambers to strengthen its IP practice. Madeleine Heal, who is called to the bar in New South Wales, Australia and England, and focuses on all areas of IP litigation including patents, trademarks, copyright, passing off and design rights. First revealed on www.thelawyer.com, 20 June
A&O loses deputy head to CC's Madrid drive
A&O senior associate Jaime Velázquez Vioque is joining Clifford Chance's Barcelona office as a partner to head its Spanish corporate and finance practice.
A&O: global but not multilingual
Allen & Overy (A&O) missed out on advising Italian bank UniCredito on its €15bn (£9.95bn) merger with Germany's HypoVereinsbank because the global firm was unable to staff the deal with Italian-speaking partners.
Acting responsibly
Walking the conflicts tightrope has been a cross to bear for solicitors. Tina Campbell evaluates new proposals which aim to ease restrictions and provide clarity
Addleshaws' Hammonds captures get notice period halved to three months
Addleshaw Goddard has secured the early release of the five construction partners the firm hired from Hammonds' Leeds office.
Asia chief scoops Freshfields global finance role
Freshfields Bruckhaus Deringer has confirmed Asia managing partner Perry Noble as the global head of the magic circle firm’s finance division.
Aussie firms raided in tax probe
Four prominent Australian firms have been raided by the country's Crime Commission as part of an investigation into an international tax fraud scheme.
Banks denied order against Spitzer
New York attorney-general Eliot Spitzer has won the first round in a lawsuit filed against him by a coalition of banks after a federal judge refused to order a restraining order against the attorney-general.
Berrymans turnover hits £40m
Berrymans Lace Mawer has enjoyed another year of growth, with turnover up to £40m and profit per equity partner also up.
Better late than never?
Kirkland's European restructuring practice has so far failed to emulate its US success. Joanne O'Connor talks to bankruptcy head Jamie Sprayregen about the difficulties in going transatlantic
Bolt Burdon fights for longer limit to sue over child abuse
Islington-based compensation claims boutique Bolt Burdon Kemp is among a handful of firms at the forefront of a campaign to change the law relating to the time limit on suing over child abuse.
Borrowers revel in volte-face of the syndicated loan market
Borrowers' counsel have the upper hand as loan pricing plummets. By Catrin Griffiths
Cap happy
The trend for capping law firms' liabilities is catching on. Martin Ellis reports on the level of limits required to keep all parties on-side
Careers: In brief
The Institute of Legal Executives (Ilex) has welcomed government proposals to establish a single Commission for Equality and Human Rights (CEHR), calling it "a positive step towards tackling discrimination and inequality issues". The CEHR will attempt to improve human rights, promote good relations between communities and handle equality and diversity issues. "Ilex welcomes the Government's commitment to overcoming discrimination, but stresses that the CEHR will need to be properly ...
Careers: People
SJ Berwin's commerce and technology team has hired senior solicitor James Gill from Freshfields' IP team.
CC announces new three-tier lockstep
Clifford Chance has released its long-awaited lockstep review to all partners this week, with recommendations for three distinct equity ladders.
CC defends The Times from Barclay bros claim
Clifford Chance's Paris office is preparing to defend the editor and media editor of The Times against a criminal libel action being brought by the Barclay brothers in France.
CC hid Glazer role over fear of Man U fans
In a bid to disguise its role advising Malcolm Glazer on his bid for Manchester United, Clifford Chance used Slaughter and May's font on the debt documents, The Lawyer can reveal.
CC raids White & Case New York
Clifford Chance has hired highly rated White & Case partner Nick Williams to bolster its New York insurance offering. Williams specialises in insurance M&A and regulatory matters, counting American International Group, the Home Insurance Company, New York Life Insurance Company and the New York State Insurance ...
CC scoops ABN Amro for covered bond programme
Clifford Chance has won the mandate for the first covered bond programme to be launched in the Netherlands.
Cleary, Shearman, Sullivan score Barclays US panel win
Banking giant Barclays has completed a comprehensive review of its legal advisers in the US.
Cleary, Wachtell scoop key roles on MBNA sale
Cleary Gottlieb Steen & Hamilton and Wachtell Lipton Rosen & Katz have scooped the lead advisory roles on Bank of America’s $35bn acquisition of MBNA.
CMS PEP dips after accounting change
CMS Cameron McKenna has unveiled its first set of financial results since changing its accounting methods and, as a consequence, has reported what would appear to be a reduction in both revenue and profit per equity partner (PEP). The firm has posted revenues of £163m with PEP hitting £384,000. In 2003-04, turnover stood at £167m, while PEP reached £415,000. First revealed on www. thelawyer.com, 20 June
CMS Swiss ally acquires Zurich banking outfit
CMS Cameron McKenna’s Swiss ally has absorbed Zurich’s Henrici Wicki & Guggisberg.
Cobbetts bolsters social housing expertise
Cobbetts is picking up a new social housing partner to further boost the firm’s expertise in the area following last year’s merger with Walker Charlesworth & Foster in Leeds.
DCA creates ombudsman role for judicial complaints
The Department of Constitutional Affairs (DCA) today (29 June) announced the creation of a new ombudsman to investigate judicial complaints.
DLA Piper secures E&Y CIS takeover approval
DLA Piper Rudnick Gray Cary has secured partner approval for its takeover of EY Law’s 87 lawyer CIS operation.
Don't burn bridges - build them
Leavers: a powerful tool or a thorn in your side? It's your choice by Roly Walter
Dorsey sends top US rainmaker to London
Minneapolis-based Dorsey & Whitney has moved to re-establish control over its London office by replacing local managing partner John Byrne with US partner Paul Klaas.
DWS throws energy head into Dubai equation
Denton Wilde Sapte (DWS) is continuing its expansion in Dubai after relocating former energy head David Courtenay-Hatcher to the growing office. London partner Ian Hodgson has been drafted in to replace Courtenay-Hatcher in the head of energy role.
E&Y loses partner to GE Capital
Ernst & Young’s Paris law arm has lost another partner, this time to GE Capital’s corporate tax department.
ECJ makes first criminal judgment
The European Court of Justice (ECJ) has broken new ground, ruling for the first time on criminal law, until now the exclusive domain of national courts within the EU.
Enhanced by Clifford Chance
No love appears to be lost between Allen & Overy’s (A&O) and Clifford Chance’s Spanish practices after the two firms were seen to be bickering like an old married couple last week after Clifford Chance put the moves on A&O senior associate Javier García de Enterría.
Firm profile: Steptoe & Johnson
Washington DC firm Steptoe & Johnson has endured a turbulent time in the UK since merging with UK technology and telecoms boutique Rakisons in January 2001.
French toast
France's three mega-privatisations - Gaz de France, Electricité de France and Areva - have been snapped up by an elite few. And most of those are American. Joanne Harris reports
Going batty
Philip Burroughs is showing disturbing signs of going native. The McGrigors real estate partner and London office head was heading off to Lords for the Tsunami Appeal cricket match on Tuesday 14 June when one of Tulkinghorn’s hacks caught up with him. The game featured 22 of the world’s best international players, including Brian Lara, Shane Warne and Muttiah Muralitharan, which pitted the MCC against an International XI.
Golf gulf
The Lawyer’s team in its own inaugural golf cup, the Saunderson House Legal Cup, finished in a highly deserved last place. Perhaps it was because the team paid too much attention to the instructions of trick shot professional golfer Jeremy Dale who impressed by playing the game how it ought to be played – sitting down. Tulkinghorn’s scribes claim that they were obliged to lose – it would have been wholly ungracious to win a tournament that The Lawyer sponsored. That’s their line and they’re ...
Grapevine
UK M&A expertise eludes Sullivan’s best efforts
Heinz picks CC to advise on HP Foods acquisition
Clifford Chance has consolidated its relationship with Heinz after advising the food group on its biggest acquisition to date.
Hengeler cultivates privatisation model
Hengeler Mueller has developed a model that will allow a public sector German bank to become a private sector company for the first time.
Herbies repatriates $200m on behalf of SEC
Herbert Smith and the new head of its in-house advocacy unit Murray Rosen QC have won a case for the Securities and Exchange Commission (SEC), securing the largest-ever repatriation of funds to the US.
Hextalls picks up Stallard's shipping team
Insurance specialist Hextalls has picked up four partners from London’s Stallard, just months after the latter firm was taken over by DMH.
Hill Dickinson celebrates LLP conversion with 17 per cent profit hike
North West firm Hill Dickinson is preparing to convert to a limited liability partnership (LLP) by October this year, as it celebrates a profit rise of 17 per cent.
House of Lords rule in <i>Nat West v Spectrum Plus</i>
The House of Lords today overturned for good a decision made 25 years ago which has been governing the way creditors are paid in insolvency cases.
How one stray email revealed cracks in A&O’s assistant pay
A misdirected email caused a few red faces at Allen & Overy (A&O) last week. As Lawyer News Weekly’s Grapevine revealed last Wednesday (22 June), A&O leveraged finance partner Tony Keal sent an email complaining that assistants in his area of practice were substantially underpaid.
Hunton expands in London with Cadwalader, Clyde laterals
US firm Hunton & Williams has expanded further in the UK with a double partner hire.
Joint decisions
Arbitration could well be the best alternative to the litigation process in professional negligence cases. Roger Parker reports
Judge Laddie quits bench in shock Willoughbys move
Mr Justice Laddie stunned the IP world last week by resigning from the bench and becoming the first judge to join a law firm.
Kirkland raids Shearman for London litigation partner
Shearman & Sterling has lost its only London litigation and arbitration partner to Kirkland & Ellis.
KKR comes up trumps for CC with Kwik-Fit Instruction
Clifford Chance's private equity practice has received another endorsement from Kohlberg Kravis Roberts & Co (KKR) after the US buyout house instructed it on another major UK deal. It is understood that Clifford Chance is advising KKR on a potential bid for Kwik-Fit, which is being sold off by CVC Capital Partners. According to reports, KKR and Japanese tyre manufacturer Bridgestone are leading the ...
Know your limit
In the past, LLPs have been exploited as tax-saving SPVs. But an artificial legal structure can have adverse consequences. John McDonnell QC reports
Latham scoops Clerical Medical German M&A first
Latham & Watkins advised longstanding client Clerical Medical on its first major German acquisition.
Latham targets antitrust with Howrey raid
Latham & Watkins has significantly bolstered its antitrust capabilities in the United States following the lateral hire of four partners from antitrust, litigation and IP specialists Howrey.
Legal profession slates government plans to dump juries
The legal profession last week hit out at government proposals to scrap juries in fraud trials, with practitioners instead blaming case management for the collapse of some high-profile prosecutions.
Limited ambition
Risk management should be high on the agenda of any law firm. Clive Greenwood looks at the ins and outs of the increasingly popular option of converting to an LLP
Linklaters Asia raids CC to bolster structured finance group
Linklaters burgeoning structured finance and securitisation practice in Asia has raided Clifford Chance for a team of four lawyers.
Linklaters' London arm fails to secure Bridgepoint buyout
Linklaters' private equity practice is kicking itself after the firm missed out on one of the lead advisory roles on Bridgepoint Capital's £225m purchase of Tunstall Holdings from HG Capital.
Lovells secures major RBS, SocGen instruction
Lovells is celebrating after advising the lenders on Canada's landmark 'Sea to Sky' project.
Lovells wins Deloitte appeal against Bank of India's BCCI protestations
Lovells celebrated a Court of Appeal victory last week on behalf of the liquidators of the Bank of Credit and Commerce International (BCCI) against the Bank of India (BoI).
Matrix chief exec exits set for Bindmans
Matrix Chambers chief executive Nick Martin is leaving to take up a similar position at niche civil liberties firm Bindman & Partners.
MBR&M bolsters Paris with Simmons hire
Mayer Brown Rowe & Maw (MBR&M) has bolstered its French finance capability with the appointment of partner Matthieu de Varax (left). De Varax, a specialist in asset finance for the aircraft, rail and ship industries, joins from Simmons & Simmons where he has been ...
MBR&M leads FA defence in Alam claim
Mayer Brown Rowe & Maw (MBR&M) and niche West End firm Barker Gillette took leading roles in last week's employment tribunal claim brought by former Football Association (FA) PA Faria Alam. MBR&M employment partner Nicholas Robertson is advising the FA in its defence of Alam's claims, which include constructive unfair dismissal, sex discrimination and sexual harrassment. Barker Gillette's Nigel Forsyth ...
Mid-size elite dominant as magic circle bounces back
The Lawyer 50: the first full rundown of the top fifty UK firms' financial performance on PEP and revenue
Milberg Weiss defends class action conduct
New York law firm Milberg Weiss Bershad & Schulman has been implicated in a lawsuit against a retired Californian lawyer accused of receiving at least $2.4m in illegal kickbacks from the firm in exchange .
Nottingham Trent launches diversity friendly degree
Nottingham Trent University’s Law School is to open its first law foundation degree in September.
Opinion
Imperial's successful defence of a cancer claim puts 'personal responsibility' to the fore
Osbornes looks into secret agreement to sell off Regal energy assets to Peak
Osborne Clarke has been drafted in to investigate the discovery of a secret agreement to sell the Ukrainian assets of embattled oil and gas exploration group Regal Petroleum.
PARTNERSHIPS: Leading questions
Are good managing partners born or created? Dominique Graham takes a look at DLA Piper's initiative to train up its managers with bespoke 'leadership' training
Pillsbury handles BNP Paribas buyout of Commercial Federal
Pillsbury Winthrop Shaw Pittman has strengthened its relationship with BNP Paribas after advising the French bank on a multi-billion dollar acquisition.
Richards Butler continues US hunt after Proskauer talks founder
Richards Butler has vowed to continue its hunt for a US mate, having once again failed to secure a merger after year-long talks with Proskauer Rose collapsed.
Rosalynde Harrison: Monsoon
Monsoon has always shied away from litigating against rivals which copy its designs. Not anymore. Gemma Westacott reports
Runny Brummies
St Philips Chambers is going international. But its great Birmingham rival down at 5 Fountain Court need not fear the globalisation of the St Philips brand just yet. In an Ashes season, this venture is all about cricket.
SEC enforcement chief returns to Wilmer Cutler
Wilmer Cutler Pickering Hale & Dorr is celebrating after securing the return of former partner and former Securities and Exchange Commission (SEC) director of enforcement Stephen Cutler.
Separated at birth
Gene Wilder has apparently been in a rage over Tim Burton’s remake of the 1971 hit Charlie and the Chocolate Factory. In the film, a poor boy wins the opportunity to tour the most eccentric and wonderful candy factory of all. Wilder is upset because he reckons he just can’t see the point of doing it all again. In a spooky, real-life parallel, Gene’s alter ego Liam Buckley was recently re-elected as head of Hammonds’ Manchester office. Not quite a remake, but close enough. Just like ...
Simmons' ambitions grow after 40 per cent PEP hike
Simmons & Simmons has set itself an ambitious target for further growth in profits after confirming a final profit per equity partner (PEP) hike of 40 per cent last year.
Sing along a lawyer
Lawyers from all over the City converged on St Bride’s Church, Fleet Street, last Wednesday and Thursday (22 and 23 June) to celebrate the tenth anniversary of the EC4 Choir.
Speechly Bircham loses private equity team
Speechly Bircham has lost both of its partners in its private equity team but has already countered with the hire of a senior associate and an internal promotion.Private equity partners Kieran O’Connor and Matthew Sillett, who joined the firm late in 2002 from Osborne Clarke, are leaving the firm to ...
Structural shift
With limited-liability partnerships becoming ever more popular across the whole gamut of law firms, Colin Ives gives a rundown of the issues that need to be considered
Texan giant to open in London
Texas-based oil and gas firm Thompson & Knight is launching in London with the hire of a lawyer from LeBoeuf Lamb Greene & MacRae.
The art of performance
Profit is directly related to performance, so tracking that performance in order to improve is essential. Julie Walker gives some tips on how to get the most from your partners
The work-life quiz
Martin Roberts, managing partner, Pinsent Masons London
Vile tiles
Pity poor old 39 Essex Street. Five minutes after it spends £1.8m on an office refit, the set is having to tear up the floor in its reception area because it attracts the dirt. Tulkinghorn thought that was a barrister’s job, but there you go. Apparently, the gorgeous pale tiles the chamber laid down in its front of house are porous and impossible to clean. They remain flawless only at the very edges, so the whole lot needs to go, leaving them truly floor-less.
What goes down...
In the past the courts have turned to the ’diminution in value’ principle in negligence actions involving property. But as Peter Causton reports, this is no longer the case
Wiggin celebrates LLP move with Ashurst hire
Wiggin celebrates LLP move with Ashurst hire" /Niche media firm Wiggin & Co has converted to a limited liability partnership, dropped the "& Co" from its name and celebrated with the hire of Ashurst corporate tax partner Sue Crawford ...
Wilmer Cutler launches West Coast operation
Wilmer Cutler Pickering Hale and Dorr has launched a West Coast practice headed by former Weil Gotshal & Manges partner Curtis Mo.A number of lawyers from the firm’s other offices, including corporate junior partner Nader Mousavi from Boston, will be relocating to Palo Alto over the next few months.The new office will focus on servicing emerging growth companies and other clients ...
WLTM City based, profitable firm for friendship, maybe more, among mid-sized elite
Applications are invited from law firms to join The Lawyer's mid-size elite. To be eligible, candidates should be City-based with a stable of largely domestic and mid-cap clients, and demonstrate excellent profitability and growth prospects. Strengths in corporate and real estate will be an advantage. Submissions from larger City firms with pretentions to a magic circle model will not be considered.
World Bank slams judicial systems of Europe
A World Bank report has called on governments in Central and Eastern Europe and Central Asia to improve the efficiency of their judicial systems by improving the enforcement of decisions and making judges more accountable. It also calls for a reduction in case backlogs and judicial corruption.
