31 March 2003
The Lawyer
A&O and Cadwalader TXU walls stand firm
Allen & Overy (A&O) and Cadwalader Wickersham & Taft have had the Chinese walls they erected to stop information flowing between the multiple parties they are acting for on the TXU Europe administration ratified by the Commercial Court.
Addleshaws becomes Leeds United defender
Addleshaw Booth & Co has won Leeds United as a new client
Altered States
A few months after the Sarbanes-Oxley Act was passed, Richard Ely reports on the real effects of the rules and how non-US lawyers may not be as hard-hit as first thought
Ashursts loses British Biotech as A&O steps in
Ashurst Morris Crisp has lost out to Allen & Overy (A&O) following a management reshuffle at British Biotech
Associates to judge CC partners
After being slammed by associates in the infamous 'Paddinggate' memo of October 2002, Clifford Chance's partners have made the first tentative steps towards rebuilding the rocky relationship with its associates.
Bar Council in fresh attack on Criminal Justice Bill
The Bar Council has launched its biggest attack on the Government’s Criminal Justice Bill by lobbying 400 MPs, including those hostile to the UK’s intervention in Iraq.The Bar’s briefing pack containing its claims has been sent to MPs before the Commons is due to begin its report stage of the Bill tomorrow (2 April).The Bar Council’s principal areas of concern are: the erosion of the right to jury by trial in complex cases; disclosure of previous convictions; ...
Birmingham duo merge
Two of Birmingham’s oldest law firms, Blackhams and Bradley & Cuthbertson, have merged to create Blackhams Cuthbertson.The new firm will have five partners and three associates and will be led by managing partner Paul Smith, who was a Blackhams partner. The firm is aiming for a fee income in excess of £2m by the end of its first year.Blackhams Cuthbertson hopes that the combined forces of both firms will provide a significant boost to its private client base, ...
Born-again Interoute consolidates legal panel
Telecoms company Interoute is reviewing its legal advisers following its emergence from receivership.
Canary Wharf gravy train lures Linklaters
Relocation of finance department back on the cards as Linklaters follows rivals.
Carboni quits Linklaters for the Bar
Linklaters London IP head Anna Carboni is to leave the firm to join Wilberforce Chambers. The move will come as a blow to Linklaters’ IP business, which in line with a number of other practice groups at the firm has been undergoing a shake-up in strategy and headcount. Last November, The Lawyer reported that two IP partners –Tom Hope and Robin Whaite - were leaving the firm. Their destinations ...
CC in review of Central Europe
Clifford Chance has launched a high-level strategic review of its Central Europe offices after largely ignoring the region since its three-way merger with Rogers & Wells and Pünder three years ago.
CC partners vote to expel Bangkok rebel
Clifford Chance partners has voted in favour of expelling the firm’s former Bangkok managing partner. Wirot Poonsuwan, who has been suspended from the practice since last August, has been removed from the partnership with effect from 31 March after the decision to expel him was put to a vote last month. The ballot took place after a meeting where Poonsuwan was given the opportunity ...
Change in fortune for Govt law firms
Berwin Leighton Paisner (BLP), Eversheds and Nabarro Nathanson - three firms that have traditionally enjoyed the lion's share of the Government's legal spend - have all fared badly on seven new Government legal panels.
Clarke Willmott retains managing partner
Bristol firm Clarke Willmott & Clarke has backed managing partner David Sedgwick for a second term. Sedgwick has led the firm through an aggressive business plan that has seen turnover rise from £12.6m in 1999 to £22m last year. Profits per partner have grown from £95,000 to £135,000 in the same period. First revealed on www. thelawyer.com/lawyernews 25 March
Clyde & Co makes Slaughters hire for Dubai expansion
Clyde & Co has hired a lawyer from magic circle firm Slaughter and May and two others from national firms to join its Dubai office.The appointments bring Clyde & Co’s Dubai staff to 68, including five partners and 22 other fee-earners.Ex-Slaughters lawyer Darran McGlinchey, who qualified in 2001, specialises in M&A and general corporate law. Amjad Hussain, who joins ...
Conflicting values
As law firms get bigger the scope for conflicts gets greater. Francis Menton asks whether UK firms can learn from their US counterparts' stricter rules
Corporate scandals leave insurance at a premium
Insurers reluctant to provide multi-year cover; US law firms face premium hikes of up to 75 per cent
Courtroom knightmare
Deference in the courtroom is usually reserved for courteous barristers obsequiously observing the rank of whichever judge happens to be before them. But complacent judges, if Sir Sydney Kentridge QC happens to grace your courtroom, beware.Making an appearance last week for Sinclair Roche & Temperley in its application for leave to appeal an earlier finding of negligence, Lord Justices Waller and Parker failed to observe the required etiquette. Following several hours ...
Cravath ditches Hong Kong office
White shoe firm Cravath Swaine & Moore is quitting Hong Kong, its sole base in Asia.
Deals round-up
Addleshaw Booth & Co (Tim Hamilton) advised vendor 3i Bioscience Investment Trust on an all-paper offer by British Biotech for RiboTargets Holdings for £29m. CMS Cameron McKenna acted for RiboTargets, with Allen & Overy advising British Biotech.
DJ Freeman partner defects to Cripps
Tunbridge Wells firm Cripps Harries Hall has appointed DJ Freeman (now Kendall Freemen) commercial property partner Paul Clark as a consultant. He is due to join Cripps in May.
Energis ditches CC and chooses Macfarlanes and DLA for panel
Resurgent telecoms company Energis has dumped corporate adviser Clifford Chance in favour of Macfarlanes.
EU praises Finland for low regulation
Finnish lawyers are the most lightly regulated in the EU, according to the surprising results of a European Commission-funded survey designed to promote the need for liberalisation in Europe's professions.
European Commission blocks big four's attempts to limit liabilities
The European Commission has flatly rejected a proposal by the big four accounting firms for a limit to be set on their liabilities.
Eversheds scoops B&M arbitration specialist
Eversheds has won arbitration specialist Stewart Shackleton from Baker & McKenzie. Shackleton's move comes just over a year after Baker & McKenzie hired him from Simmons & Simmons, where he was head of public international law. Eversheds said Shackleton would be bringing his entire practice with him. Shackleton ...
Eversheds wins Ashursts private equity lawyer
Eversheds' private equity team has taken on Richard Moulton of Ashurst Morris Crisp as a partner. Moulton's experience includes advising on deals such as Cinven's £820m acquisition of NCP Car Parks and the £2bn acquisition of the Unique and Voyager pub chains from Nomura.
Field Fisher and Linklaters improve trademark filings
Field Fisher Waterhouse has claimed first place in the Institute of Trade Mark Attorneys' (ITMA) annual ranking of community trademark (CTM) filings, while Linklaters is the only law firm to significantly buck the downward trend of filings.
Firm foundations
Law firms in New York are moving to bigger and better premises. Dearbail Jordan asks: who's getting the most out of the situation - the firms or the developers?
Firms queue up as USAID hands out Iraq contracts
US law firms are set to gain millions in fees from the rush of development work in Iraq. The US Agency for International Development (USAID) has already begun handing out contracts to development companies
Fladgates sticks with client Orb despite fraud allegations
DEAL OF THE WEEK - ORB
Freshfields - the cookie monsters
Times must be hard at Freshfields. When Tulkinghorn visited the firm's Fleet Street offices last week, he was alarmed to find that plates of biscuits in the meeting rooms had been fitted with a failsafe anti-consumption device to cut expenditure on sweet chocolate-based snacks.Biscuit plates were covered with a tightly-pulled piece of clingfilm, a cunning psychological device to deter greedy journalists from getting their hands on the biscuits. Mrs Tulkinghorn does ...
Freshfields pulls project finance out of Washington
Partners relocate to New York and Paris; DC left with antitrust and tax capability.
Garrigues joins World Services Group
Garrigues, the Spanish member of the now defunct Andersen Legal network, has joined the World Services Group (WSG) network.
Genset in-houser joins Taylor Wessing
The takeover of Genset, France's largest biotech company, by Geneva-based Serono has seen Genset's general counsel move to Taylor Wessing after being made redundant.
Hammonds launches Moscow joint venture
Hammonds has taken the unique step of forming a joint venture with a local Russian firm to gain a presence in Moscow.
Heuking's merger snub sparks Dentons' withdrawal from international network
The Lawyer can reveal that Denton Wilde Sapte felt compelled to abandon the Denton International network when key German member Heuking Kühn Lüer Wojtek turned down a final opportunity to merge earlier this year.
Hogan gets Kirsch work after conflict
The Berlin office of Hogan & Hartson has had a hand in one of Germany's highest profile deals this year thanks to a conflict at Freshfields Bruckhaus Deringer.
Judge Gage threatens capped fee nightmare for UK lawyers
City lawyers acting in high-value Supreme Court litigation could soon be forced into capping their costs if a hearing next month sets a precedent.
Kentridge answers Sinclair Roche plea
Sir Sydney Kentridge QC, the barrister who battled to save the likes of Abdullah Öcalan and Steven Bico, has successfully fought an application for leave to appeal a finding of negligence against Sinclair Roche & Temperley.
Law Society appoints new legal director
The Law Society has appointed Frances Low the company secretary and legal director of London Underground and London Transport, as legal director, a position that has been created only recently. Low is due to join the Law Society this summer.First revealed on www.thelawyer.com/lawyer news 28 March
Lawyers get meal deal
Tulkinghorn was amused to hear about the initiation ceremony that McDonald's external advisers have to go through before securing their first instructions from the fast food chain.Lawyers from Birmingham giant Wragge & Co and Mayfair-based niche property firm Forsters had to don aprons and serve burgers ...
Legal Widow
Liability caught the Lawyer shooting squirrels in the garden with his air rifle, and he had to produce a defence quickly as her face crumpled and the tears sprang out
Look before you leap
The recent decision denying Colt Telecom's insolvency shows that judges will not tolerate petitions that are made in 'bad faith'. Martin Bienenstock and Christopher Mallon report
Macchi di Cellere partner breaks away to launch boutique
Macchi di Cellere e Gangemi partner Marco Padovan has left the firm to launch his own boutique, specialising in banking, project finance, corporate and litigation. Formerly chief counsel at the European Investment Bank, Padovan joined Baker & McKenzie to head its project finance practice in 2000 and then went on to join Macchi in late 2002.The independent Italian firm, which counts Slaughter ...
Maxwell Batley
Maxwell Batley's management rejig has given the firm a new lease of life
Morgan Cole makes more staff cutbacks
Struggling Anglo-Welsh firm Morgan Cole is resorting to further cost-cutting measures that will see two partners ousted from the partnership and leaves a further 20 people facing the possibility of redundancy.
Nabarros builds up US portfolio with WP Carey
Nabarro Nathanson has won a new name to add to its US investor client base. It advised WP Carey & Co on the financing of a £16m, 13-acre site acquisition through a 30-year sale and leaseback agreement.
OFT takes flak for referring Morrisons' Safeway bid
Wm Morrisons' law firm Ashurst Morris Crisp has reportedly told Sir Ken Morrison that his bid for Safeway would go through, possibly with some minor undertakings on divestments.
Opinion
When Benjamin Disraeli said, "there are lies, damned lies… and statistics," he probably never looked closely enough at what statistics could tell him
Orchard makes global push with ex-LSE star
City firm Orchard has taken on former London Stock Exchange (LSE) chief executive Gavin Casey in a bid to help the firm pursue its ambition to become an international law firm. Casey, who will act as special counsel to the partnership on a part-time basis, was credited with transforming the LSE from a mutual society to a public limited company. First revealed on www.thelawyer.com/ lawyernews 25 March
Orrick raids Ernst & Young team for Milan launch
Orrick Herrington & Sutcliffe has finally achieved its long-awaited Italian launch after hiring 23 lawyers, including three equity partners, from the Italian legal affiliate of Ernst & Young, Studio Legale Tributario.The Milan office will be led by Alessandro De Nicola, previously national director of Ernst &Young’s legal arm in Italy.Orrick Chairman & CEO Ralph Baxter said: "The opening of our Milan office is a vital step in Orrick's global strategy ...
Pillsbury makes public apology to Jensen
Pillsbury Winthrop has been forced to make a humbling apology to Frode Jensen as part of a settlement with the former partner.The astonishing climbdown comes nearly seven months after Pillsbury first issued the now infamous press release accusing corporate partner Jensen, who had left the firm for Latham & Watkins, of sexual harassment.Following a $45m (£28.5m) lawsuit brought by Jensen, both parties reached a settlement through mediation. Although details of the ...
Putting the law into love
Now here's a romantic idea: lawyers in love can now celebrate tying the knot by having their reception at the Law Society in Dublin. Legal lovebirds are offered a "friendly, efficient service" and "the highest level of guest care" - all this and the opportunity to look at portraits of red-nosed old duffers while toasting each other with champagne.Surely there are appropriate alternatives in London that could offer a similar service. How about visiting the Law Society ...
RCJ suffers £55m deficit
The Lawyer can reveal that the Supreme Court lost £55m last year after meeting only 20 per cent of its fee target.
Read all about it...
The Attorney General Lord Goldsmith QC, at the annual Mary Ward Lecture this month, declared: "A free and active media is essential to democracy, but freedom of speech, while of vital importance, is not always paramount. Like other freedoms, it may be subject to certain legitimate restrictions.
Scottish aristocrat gunning for Brodies
Brodies called in the police over safety concerns for the firm's staff after the head of the Scottish pressure group Scotland Against Crooked Lawyers Stuart Usher told a documentary that he was tempted to use a shotgun against lawyers at the firm.
Shearman takes a large bite of the German pie
Aled Griffiths on the Wall Street giant's long march to become a serious challenger in Germany.
Sills Cummis scoops US work on Fiat's US operation closure
New Jersey-based Sills Cummis Radin Tischman Epstein & Gross has won out against a plethora of firms to advise Fiat on US law as the troubled Italian industrial group finalises the closure of its US operation
SJ Berwin litigation department loses three
SJ Berwin has lost three lawyers from its litigation department in the last two months. However, Tim Taylor, head of the litigation department, said that the moves are unrelated. One lawyer has gone travelling, while the other two are thought to be moving firms.
Skadden hire sparks litigation launch
Skadden Arps Slate Meagher & Flom is launching a litigation practice in its Houston office after taking on a senior Vinson & Elkins partner
Slaughters forfeits £11m fee
Slaughter and May lost out on a whopping £11m fee when the Six Continents (6C) shareholders spurned the advances of entrepreneur Hugh Osmond three weeks ago.
Steptoe & Johnson-Rakisons: and then there were two
US firm Steptoe & Johnson's two-year-old merger with Rakisons has been left in tatters after two more partners quit the firm. There are now just two equity partners left from the original UK boutique.
Survey shows firms are too slow to bill
Firms are experiencing rising problems with billing and collecting fees, according to annual research by PricewaterhouseCoopers (PwC).
The Leader Column
Last Thursday night, the great and good of competition law gathered together at Brick Court Chambers for a secret powwow with the head honchos of the Office of Fair Trading (OFT).
The story so far
The Lawyer reported last week that Linklaters and Berwin Leighton Paisner have de-equitised some of their partners to save money. De-equitising happens in 'lockstep' firms, where equity partners, through longevity and expertise, enjoy a set position in a profit-sharing hierarchy. Partners who ...
Theodores and Addleshaws delay vote again
Theodore Goddard and Addleshaw Booth & Co have pushed the date on which partners will vote on their proposed merger back to 16 April. The vote on the merger is understood to be a dead cert since the firms announced publicly that they had entered exclusive talks this Valentine’s Day. However, the original plan to vote on 31 March was scrapped, partly because the firms wished to avoid announcing the result of the vote on April Fools’ Day.
Tiger hunting
'Hearsay' is obviously becoming too transparent and easy for lawyers to guess. A few weeks ago we ran one asking which well-known private equity partner liked to be known as 'Tiger'. A few days later Tiger received an anonymous faxed copy of Tulkinghorn's piece with 'Grrrrrrrr' emblazoned across the top. Any other animals out there?
Warring emotions
Dentons partners Michael Doble and Paul Holland have more of an interest than most in the fortunes of the Middle East. Emma Vere-Jones reports
Watson Burton loses clinical negligence head
Irwin Mitchell has lured the head of Watson Burton's clinical negligence team Angela Curran to lead its new Newcastle office. Watson Burton senior partner Andrew Hoyle confirmed that once Curran has left, the firm will withdraw from clinical negligence work. He added that the firm is recommending that Curran's ...
Watson Farley makes triple hire
Watson Farley & Williams has hired three lawyers to bolster its London and New York offices. Tax specialist Patricia Landoli, formerly an Allen & Overy senior assistant, has joined New York as a partner. In London, Ron Stuber joins as a partner from Milbank Tweed Hadley & McCloy and Bryan Curel, head ...
We can rebuild it
Telecoms company Interoute has rebuilt itself from the bottom up - but there were some hairy moments along the way. By Steve Hoare
Wedlake Bell recruits new members for Telfa alliance
Wedlake Bell's exclusive alliance has signed up replacement member firms in Germany and Scotland and has gained a Finnish member for the first time, completing its coverage across the EU.
Worlds apart
UK firms know that to be a global player, a strong US practice is needed, but most have failed to realise that the key to transatlantic success is litigation. Peter Zeughauser reports
