Equitable Life has settled its outstanding litigation against nine former directors, with Allen & Overy (A&O) and Simmons & Simmons recovering costs from the insurance firm, The Lawyer can reveal. The agreement was reached this morning and brings to an end an extraordinary saga of litigation lasting four years. A&O and Simmons were both acting […]
Allen & Overy (A&O) has been rocked by the shock resignation of finance partner Clive Wells. It was confirmed today (2 December) that Wells handed in his notice yesterday and will be joining Skadden Arps Slate Meagher & Flom. Wells joined A&O alongside Andrew Bamber, Tim Polglase and Robin Harvey from Norton Rose in 2002. […]
SJ Berwin has confirmed its launch into the Italian market, first reported in The Lawyer (11 July), with the hire of private equity and acquisition finance heavyweight Alberto Morano and a team of three partners. Morano will head up the silver circle firm’s Italian operations, which will officially launch on Monday (5 December) with offices […]
Slaughter and May and Lovells have retained their roles as advisers to Prudential and Egg as the insurer takes full control of the internet bank. Slaughters partner William Underhill acted for Prudential on last year’s discussions to sell the firm’s 79 per cent stake in Egg, which ultimately fell through, and is representing the company […]
Berwin Leighton Paisner (BLP) has become the latest UK firm to agree to convert to limited liability partnership (LLP) status. Following a partnership vote on 31 October, the firm has converted to LLP status, effective from today (1 December). Managing partner Neville Eisenberg said: “The conversion process has been very smooth.”
Clifford Chance has bagged its first successful M&A deal for Punch Taverns thanks to a Slaughter and May conflict. The magic circle firm advised the UK-listed pub company on the £2.7bn acquisition of Spirit Group, which was announced earlier today (1 December). According to reports rival bidders for Spirit included the Barclay Brothers, property mogul […]
Orrick Herrington & Sutcliffe has finalised its merger agreement with French independent Rambaud Martel in a deal which will see 18 Rambaud partners join the US firm in January 2006. The merger comes after raids on Rambaud Martel by Proskauer Rose and Reed Smith earlier this year. Proskauer picked up six partners while Reed Smith […]
Simpson Thacher & Bartlett and Danish firm Bech-Brunn have teamed up to advise the Apax-led consortium that has won the TDC auction. Danish telecoms operator TDC accepted a Eur10.2bn bid last night (29 November) from Nordic Telephone Company (NTC), the bidding vehicle established by a consortium comprising Apax, Blackstone, Kohlberg Kravis Roberts, Permira and Providence. […]
Latham & Watkins has raided Ashurst’s Munich office to hire three lawyers, including private equity heavyweight Jörg Kirchner, to launch its own local presence. It is understood that the US firm plans to launch in Munich early in the New Year, to run alongside its existing offices in Hamburg and Frankfurt. Kirchner, previously joint head […]
Weil Gotshal & Manges is bulking up its Paris restructuring department with the hire of a team from US rival Willkie Farr & Gallagher. The appointment sees partner Jean-Dominique Daudier de Cassini join Weil Gotshal along with three other lawyers. De Cassini’s arrival comes just weeks after Weil Gotshal lost restructuring partner David Chijner to […]
Skadden Arps Slate Meagher & Flom has scooped the role of international adviser to the Australian government on the sale of its remaining stake in national telecommunications giant Telstra. The New York-based firm, which has an office in Sydney, is to advise on all international aspects of the sale of the government’s remaining 51.8 per […]
White & Case and US litigation specialist Entwistle & Cappucci have negotiated a $1.1bn settlement bringing the dispute between Dutch food retailer Royal Ahold and its shareholders to an end.White & Case New York litigation partner Glenn Kurtz led Ahold’s defence of the securities class action. Founding partner of Entwistle & Capucci Andrew Entwistle was […]