28 July 2008
The Lawyer
5 Raymond Buildings quartet don gloves for Ricky Hatton libel fight
Four barristers from 5 Raymond Buildings (5RB) have been fighting it out in the Court of Appeal after Random House sought to defend itself against proceedings brought by boxer Ricky Hatton’s former promoter Frank Warren.
8 King St folds after merger talks founder
Manchester-based 8 King Street Chambers has collapsed after failed merger talks with common law set 18 St John Street Chambers.
A&O ousts Clifford Chance on BA/Iberia merger
Allen & Overy (A&O) has edged out magic circle competitor Clifford Chance to win the lead role advising Spanish airline Iberia on its proposed merger with British Airways (BA).
Addleshaws steers Dutch gas import terminal project
Addleshaw Goddard has bagged the lead role acting on the e745m (£591.86m) project financing of a Dutch liquefied natural gas import terminal.
Advisors kept as Mosley moves from privacy to libel
Norfolk-based Steeles Law has been retained by Formula 1 chief Max Mosley as he launches libel proceedings against the News of the World.
Alston & Bird merges with 83-lawyer Weston; hires 12 from Akin Gump
Alston & Bird has secured its much-anticipated merger with west coast firm Weston Benshoof Rochefort Rubalcava & MacCuish.
Alston & Bird to launch two west coast bases
Alston & Bird is targeting a simultaneous launch of two offices this week on the US west coast.
Appeal court makes landmark equal pay decision
Tens of thousands of low paid local council and NHS workers could claim equal pay compensation following a landmark decision handed down in the Court of Appeal today (29 July).
Ashurst snares Lovells projects partner
Ashurst has poached Lovells projects and infrastructure partner Jason Radford for its own growing team.
Barristers flag up fees dilemma
Criminal defence set 25 Bedford Row has warned that the payment system for publicly funded ‘one case, one fee’ (Ocof) work is putting too much power in the hands of solicitors.
Bevan Brittan’s credibility hinging on improved profit
Bevan Brittan’s credibility hinging on improved profit" class="inline_image inline_image_left" src="/pictures/web/images/12989_80_whitfield.gif" /Bevan Brittan has set itself a challenge – and boy, what a challenge it is.While going through a management shake-up (21 July), the Bristol-headquartered firm is targeting ...
Cadwalader makes 96 redundant; total 131 this year
Cadwalader Wickersham & Taft is making a second major round of redundancies, laying off 96 lawyers across its offices in the US and UK.
Cadwalader redundancies: Round two
Cadwalader Wickersham & Taft cuts London by a fifth
Cadwalader Wickersham & Taft has axed 20 per cent of its London lawyers as part of the cull of 96 lawyers across the firm.
Clydes switches to merit-based pay
Clyde & Co has shaken up its pure lockstep to a three-gated remuneration structure based on merit.
Cobbetts enters real estate redundancy talks
Cobbetts has entered redundancy consultations with staff in its real estate practice, including partners. The firm is aiming for a single figure headcount reduction, across all levels and practice areas of its Leeds and Manchester real estate departments.
Cohen milstein mulls equitable life action
Class action firm Cohen Milstein Hausfeld & Toll is considering launching legal proceedings on behalf of a million Equitable Life policyholders after the parliamentary ombudsman Ann Abraham urged the Government to compensate them for losses incurred after Equitable almost collapsed eight years ago.
Collas Day expansion to encompass City, Jersey
Guernsey offshore firm Collas Day is to open a London office as part of a broader expansion plans.
Conference puts students on right Pathway
Last week 150 sixth-formers congregated at the University of Warwick to attend the first-ever Pathways to Law National Conference.
Cover charge
Following years of review and consultation with insurance and reinsurance industry stakeholders in the EU and Bermuda, reinsurance supervisory bodies are well on the way to implementing separate but similar approaches to solvency margins.
Covington launches in Asia
US firm Covington & Burling has launched its first office in Asia, with former management chair Stuart Stock heading a team in Beijing. Joining Stock will be former Warner Bros Entertainment executive Ellen Eliasoph and Cao Yu, a former partner of Chinese firm Haiwen & Partners. Both will act as resident senior lawyers.
DAC on the hunt for another merger
Davies Arnold Cooper (DAC) has vowed to push its turnover through the £40m barrier by the end of this financial year as it scouts for another merger following its deal with KSB Law earlier this year.
Davis Polk, Latham take lead as Roche sets sights on Genentech
Two US firms have snared lead roles on Swiss pharmaceutical group Roche’s $43.7bn (£21.88bn) bid for US drug giant Genentech.
Dewey & LeBoeuf Paris trio go it alone as French legal market switches focus
Three former lawyers from Dewey & LeBoeuf’s French office have broken away to form a dispute resolution boutique during a period of intense activity in the French legal market.
Dickinsons rides out property dip but North East rivals prove not so hardy
Results at most purely regional North East firms for the 2007-08 financial year have been underwhelming, with some having to scale back their ambitions.
DLA offs
DLA offs1-August-2008 Thank God it’s Friday. The legal market has had a tough week.
DLA Piper makes London lay-offs
DLA Piper has made five lawyers redundant in its technology, media and commercial group.
Dosh and checks
Anti-money laundering regulations in the BVI are tightening in line with international opinion and all must comply or face the toughest criminal penalties.
DWS fast-tracks associates to boost Middle East
City firm dangles early partnership carrot in bid to build Dubai, Qatar and Saudi Arabia
DWS names non-executive board member
Denton Wilde Sapte has appointed former Ernst & Young chairman Nick Land as its external non-executive board member.
Eastern promises
Who’d want to live in the Middle East? Not quite enough of you, it would seem. On paper it should be an easy sell. Work in London is dropping off and the growth is overseas – what better protection from all those redundancies masquerading as performance reviews?
Equitable strife
We may be living in economically turbulent times, but the evolving role of sovereign wealth funds, coupled with private equity’s shift in focus from mature to emerging markets, means there are still plenty of opportunities abroad
Eversheds freezes base salaries for associates
Eversheds has frozen associate base salaries in London and the regions as the firm fully enforces its new performance-related remuneration structure.
Eversheds lures Addleshaws partner
Eversheds has hired Addleshaw Goddard partner Andrew MacCulsh to head the firm’s construction team in Nottingham.
Eversheds muscles in on DLA’s Abbey role
DLA Piper has lost its status as Abbey’s sole employment adviser after Eversheds joined the bank’s panel.
Ex Shearman German partner rejoins legacy firm
Shearman & Sterling's former German legacy firm, Schilling Zutt & Anschütz (SZA), has re-hired corporate partner Stephan Brandes from McDermott Will & Emery six months after he left.
Fujitsu frees up European counsel
IT provider Fujitsu Services is revamping its European legal strategy, giving more autonomy to local general counsel and hiring its first full-time lawyer in Portugal.
Fund factor
Jersey’s ability to move with the times has made it a destination of choice for funds and it is now after a share of the unregulated market.
GSK ends GC search with Sidley hire
GlaxoSmithKline (GSK) has turned to the US for its new general counsel, hiring Sidley Austin life sciences partner Dan Troy following a seven-month search.
Heller Ehrman hires DLA Piper IP partner
Heller Ehrman has recruited IP partner Richard Penfold from DLA Piper to boost its year-old London office as speculation over an impending merger with Baker & McKenzie persists.
Indian Bar Council lifts web ad restrictions
The Bar Council of India has lifted restrictions on law firm websites, allowing Indian lawyers to launch their own websites giving basic information about themselves to prospective clients.
Insure hands: Sean McGovern, Lloyd’s of London
After being made up to head of legal while still in his twenties, Lloyd’s of London general counsel Sean McGovern has exceeded the insurance giant’s expectations.
Kennedys absorbs RPC’s Tiverton insurance office
Kennedys absorbs RPC’s Tiverton insurance office" /Kennedys has today (28 July) taken over the Tiverton office of its insurance rival Reynolds Porter Chamberlain (RPC) and plans to move the staff to Taunton.
Kirkland ramps up New York with Weil capture
Kirkland & Ellis has snared a restructuring partner from US rival Weil Gotshal & Manges to bulk up its New York restructuring capabilities.
LG raid sees fifth partner loss for Faegre this year
US firm Faegre & Benson’s London office has been raided for the fifth time this year, with LG recruiting corporate real estate partner Malcolm Headley.
Lift off
Bryan Cave’s new London office may be all bells and whistles, but it’s not for everyone. The US firm moved into its shiny new home at 88 Wood Street earlier this summer and threw a swanky party to mark the occasion.
Litigation: A keyword for Google?
Many lawyers acting for brand owners will have felt the shockwaves emanating from Google’s recent controversial change to its policy regarding the use of trade marks as keywords in the UK and Ireland.
Look before you leap
Investors in BVI-held companies need to be aware of what can happen when things go wrong and think seriously before doing business offshore.
Lords uphold SFO appeal against BAE bribe ruling
The Law Lords have upheld an appeal by the Serious Fraud Office against a High Court ruling that it acted unlawfully in terminating a probe into a BAE Systems arms deal.
Microsoft panel firms to earn diversity bonuses
Microsoft has introduced a pioneering financial bonus scheme to reward its 17 panel firms for hitting diversity targets.
Mishcon de Reya to put investment before profit
Mishcon de Reya to put investment before profit" /Mishcon de Reya has reported limited growth in 2007-08 as the firm’s partners prepare to invest heavily in new offices and growing the litigation arm.
Moore Blatch joins hunt for South West merger
Moore Blatch has joined the consolidation trail in the South West and is looking for a merger partner.
Moves roundup: 28 July 2008
Professional negligence barrister David Yates has moved to Pump Court Tax Chambers. He leaves Four New Square.
Nelson Mandela lawyer cleared of fraud charges
The Court of Appeal has cleared Nelson Mandela's long-serving lawyer, Mohammed Iqbal Meer, of conspiracy to defraud the Zambian government.
New Law Soc boss wants businesslike attitude
New Law Society president Paul Marsh has vowed to make the business of law the overarching theme of his 12 months in office.
New tactics
As home to many offshore funds, Guernsey has amended companies law to take account of the troubled economic times. Mark Helyar reports
Newcastle’s Muckle in redundancy talks
Newcastle firm Muckle has entered redundancy talks with up to 20 of its staff.
No place to hide
The compression of the market brought on by the global credit crisis has left hedge funds feeling the squeeze. But with no quick fixes to hand, a period of consolidation at the end of what has been a boom period has to be the best option, argues
Offshore
After a relatively quiet first half to the year, the offshore legal profession is on the move again.
Opinion: Anti-discrimination laws need to be made consistent
The European Court of Justice (ECJ) recently gave judgment in Coleman v Attridge Law (2008). In so doing, it clarified the remit of the Framework Directive (2000/78/EC), which was adopted in November 2000 to combat discrimination in the workplace on grounds of religion or belief, disability, age or sexual orientation.
Orrick Herrington & Sutcliffe: Ralph and ready
Orrick chief Ralph Baxter has never made a secret of his desire to grow the firm globally. Such is his eye for a merger opportunity that even the current market turmoil hasn’t dampened his plans
Personal touch
With the lines between offshore and onshore firms becoming increasingly blurred, the special relationship between the two has become ever more important. Onshore firms are the lifeblood of their offshore counterparts and when the latter move ...
PI lawyers slate MoJ on claims reform
Personal injury (PI) lawyers have slammed the Ministry of Justice (MoJ) for its failure to implement far-reaching reform of the claims process.
Pictons
Pictons has not had a stellar financial year, with turnover dropping by 4 per cent from £7m in 2006-07 to £6.7m in the last financial year.
Pinsents wins William Hill online mandate
Pinsent Masons has scored its first major deal for bookmakers William Hill since a June panel review, ;advising ;the company on a deal to upgrade its online betting service.
Power play
The Royal Court of Jersey’s ruling concerning BetOnSport.com founder Gary Kaplan’s actions has shed light on the status of protector powers.
Rabinder Chaggar: LG
If a movie was being made about your life, which actor would play you?A very young Omar Sharif.
Reed Smith to open in Silicon Valley with MoFo hire
Reed Smith is to launch an office in Silicon Valley after hiring Morrison & Foerster Palo Alto partner Rich Scudellari.
Revealed: Clifford Chance’s Abu Dhabi launch team
Clifford Chance’s new office in Abu Dhabi, the capital of the United Arab Emirates, will open with three partners and eight associates.
Rolling news
Regular visitors to Tulkinghorn’s page will recall that a few weeks ago he reported the plight of Thomas Eggar managing partner Tony Edwards, or “fat lawyer on a hike” as he has labelled himself.
Sark bites
A recent ruling found that there was no breach to the European Convention on Human Rights in the Sark legislation case, raising some important legal issues surrounding Crown dependencies.
Shearman appoints Euro finance head
Shearman & Sterling has appointed structured and leveraged finance partner Clifford Atkins to head the firm’s European finance group, taking over from Anthony Ward. Ward will step down from 1 August to focus on his posts as London managing partner and member of the global policy committee.
Simpson, Weil, Cravath on KKR’s landmark dual listing
The world’s elite firms are jostling for position on Kohlberg Kravis Roberts’s (KKR) landmark dual listing in Amsterdam and New York.
SRA starts Clementi revolution with LDP structures
The Solicitors Regulation Authority is set to change its Code of Conduct in reaction to the regulatory demands of the Legal Services Act.
St Philips chief plays down revenue blip
Birmingham-based set St Philips has posted a turnover of £27m – down by 15.6 per cent on the previous year’s £32m.
Star Wars: attack on the clones struck down
Litigation firm SimmonsCooperAndrew has struck down George Lucas’ High Court battle for ownership of the IP rights to the Star Wars stormtrooper helmets.
Taking flight
The Isle of Man’s Aircraft Registry has proved to be a soaring success for the local economy
Thacher, sullivan win credit crisis gigs
New York firm Thacher Proffitt & Wood has won a leading role in relation to the collapse of US bank IndyMac, while Sullivan & Cromwell is advising US mortgage group Fannie Mae on its possible government bailout.
Thomas Eggar grows Southampton office
South East firm Thomas Eggar is moving six partners and 11 fee-earners to its new Southampton office from early September in a drive to focus on business development in the city. The group will practise in areas including commercial, dispute resolution and real estate. The lawyers will be accompanied by 13 support staff. Managing partner Tony Edwards said he planned to increase the office’s fee-earner ...
Thring Townsend bucks recruitment trend
Bath firm Thring Townsend Lee & Pembertons is set to step up its recruitment programme after hiring two partners for its London practice.
Ticket to ride
The Law Society’s send-off for its recently departed president Andrew Holroyd may not have quite lived up to his expectations.
Trough love
At some points in a legal career, the humiliating tasks outnumber the fun ones. Tulkinghorn has heard through his network of spies that Nabarro has just added to the former with its Nabarro Day.
Turners and Ottaways set merger date
St Albans firms Turner & Debenhams and Ottaways will merge on 1 September to create a firm with a combined turnover of around £8m. The new firm will be called Debenhams Ottaway and will comprise 17 partners and 120 staff. The firm will move into Turners’ current offices.
Unreasonable conduct
The failure of a Jersey law discretionary trust to act in a non-partisan manner in relation to a 2006 divorce case in the English High Court led the Royal Court of Jersey to direct that the trustee give effect to the English court’s order.
US lawyers welcome China, India’s antitrust laws
US M&A lawyers with cross-border practices have cautiously welcomed moves in China and India to introduce new antitrust legislation based on the European Union model.
Vinson & Elkins bulks up Middle East
Vinson & Elkins has underscored its dedication to its United Arab Emirates strategy by relocating key partners to the region.
Webweek
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
WFW opts for piecemeal growth
WATSON FARLEY & WILLIAMS
Where there’s a will
A recent ruling by the Royal Court of Guernsey has modified the law governing guardianship, ushering in a quasi-statutory wills regime in the process.
White & Case hires McKinsey for global review
White & Case’s entire global network is being scrutinised by management consultants ;McKinsey & Company as part of a worldwide strategic review of the firm’s business.
White trash?
The EU’s draft white paper on anti-money laundering competence has drawn fierce criticism for its arbitrary methodology.
Wragge & Co opens Munich IP base
Wragge & Co opens Munich IP base" /Wragge & Co is to open an IP litigation office in Munich by September, though it will maintain its relationship with German best friend Graf von Westphalen, which also has a Munich presence.
