4 July 2005
Davis Polk & Wardell, led by corporate partners John Amorosi and Christopher Mayer, has secured the lead role advising China National Offshore Oil Corporation (CNOOC) on its $19.6bn (£10.73bn) counter bid for Californian power group Unocal. Herbert Smith's Hong Kong practice is understood to be assisting with local law issues related to the bid, while Wachtell Lipton Rosen & Katz, led by Daniel Neff and David Karp, is advising Unocal. Meanwhile, Pillsbury Winthrop Shaw Pittman, led by ...
Specialist insolvency set 3/4 South Square has stormed to the top of the most remunerative chambers list, with barristers' average earnings standing at £522,000.
Freshfields Bruckhaus Deringer has confirmed Asia managing partner Perry Noble as the global head of the magic circle firm's finance division. The role became vacant last month after incumbent Simon Hall decided to step down a year early.
Beachcroft Wansbroughs has elected Simon Hodson as the firm’s new senior partner following David Hunt's decision to stand down from the role after 10 years.
Berrymans Lace Mawer has enjoyed another year of growth, with turnover up to £40m and profit per equity partner (PEP) also up. The firm recorded a profit rise of 5 per cent between 2004 and 2005, bringing average PEP up to £174,000. First revealed on www.thelawyer.com 27 June
Law firms are understandably eager to recoup the £150,000 or so they spend producing each new lawyer, but at £150 an hour or more for a trainee, these have got to be some truly special people.
Bingham McCutchen LLP has bolstered its West Coast practice with the hire of the last two remaining partners from the now defunct Los Angeles office of New York firm Fried Frank Harris Shriver & Jacobson.
Berwin Leighton Paisner (BLP) has secured the second partner for its fledgling competition department with the recruitment of Office of Fair Trading (OFT) director Becket McGrath.
Last Cawthra Feather has strengthened its residential property team in Ilkley with the relocation of partner Robert Stewart from the Shipley office. He joins partner Simon Mordey and property executive Sally Chadwick.
Six months after the Indian Ocean tsunami, Clifford Chance has raised more than $1m (£550,000) for the relief effort. Last December, the firm launched a fundraising exercise across all of its offices and committed to match fund collections up to $500,000 (£276,000). Over the past six months there has been a total of $538,000 (£297,000) raised through donations by individuals throughout the firm.
Clifford Chance's London office has outperformed every other region at the firm, posting a 7.7 per cent revenue hike.
Lovells has strengthened its relationship with Charterhouse Capital Partners by advising the private equity group on its successful £262m acquisition of pub operator Barracuda Group from PPM Capital.
Cleary Gottlieb Steen & Hamilton and Skadden Arps Slate Meagher & Flom have shot up the ranks in the European M&A league tables after securing roles on UniCredito Italiano's landmark €15.4bn (£10.25bn) bid for German bank HypoVereinsbank.
Clifford Chance has topped Thomson Financial’s European M&A league tables for both announced and completed deals in the second quarter 2005.
The European Commission is getting tough on EC-wide competition by launching a three-tier investigation. Elizabeth McKnight reports
For its issuance of new standards for the securities sector, Iosco has instigated a full consultation process aimed at moulding protections for the future. By Edward Fleischman
The Department of Constitutional Affairs (DCA) last week announced the beginning of a new era of judicial transparency with the establishment of an Office for Judicial Complaints (OJC) and a judicial appointments and conduct ombdusman.
Dozens of partner departures, a cash call and profits nosediving. Can it get any worse for Denton Wilde Sapte, or can Howard Morris drag his firm up the rankings? Joanne O'Connor reports
DLA Piper Rudnick Gray Cary has secured partner approval for its takeover of EY Law's 87-lawyer CIS operation. The move sees DLA Piper take on the St Petersburg and Moscow offices of EY Law and secure a presence in the Ukraine and Georgia for the first time. The merger takes effect on 1 July 2005. First revealed on www.thelawyer.com 27 June
The Equitable Life trial grew more complicated last week as Equitable's legal team decided against amending its claim for a sixth time, instead deciding to pursue the majority of the £2.6bn action.
Field Fisher Waterhouse (FFW) has unseated Lovells as Sport England's sole legal adviser.
Simon Smith joined what was then Few & Kester two years ago as its managing partner. “It was a well-established Cambridge firm with a lot of medium-sized institutional work,” he recalls. “But the partners were keen to make a quantum leap, and that was my brief.”
The fee bonanza that was the 2003 restructuring of power giant Drax is set to restart as the company begins a programme of refinancing that will culminate in an IPO later this year.
Paul Weiss Rifkind Wharton & Garrison has scooped the first high-yield bond offering by a South African issuer in a deal worth €175m (£116.5m).
LeBoeuf Lamb Greene & MacRae has bolstered its London practice further, this time by raiding Debevoise & Plimpton to hire star arbitrator Arthur Marriott QC and litigator Deborah Ruff.
CMS Cameron McKenna's Swiss ally has absorbed Zurich's Henrici Wicki & Guggisberg.
Legal precedent could be set, but will this diminish the freedom of the press? Joanne Harris reports
Freshfields Bruckhaus Deringer and Washington DC firm Sutherland Asbill & Brennan are top of the betting order to secure the lead advisory roles if British Nuclear Fuels (BNFL) proceeds with the loudly speculated sale of its US business Westinghouse.
With changes in the retirement age, pension funds under performing, discrimination laws, good health and longevity, all of us are faced with working – or being active well into our 70s.The question that we and generations to come need to ask ourselves is: ‘what will I be doing over this period?’
Delta Air Lines has drafted in Gibson Dunn & Crutcher labour partner Scott Kruse to advise the embattled US airline’s management following the retirement of two of the company’s top in-house lawyers.
The statement of directors' general duties proposed by the Government will make it virtually impossible for a board to use the defence tactic used by Manchester United during Malcolm Glazer's successful takeover of the Premiership football club.
WFW makes waves with entry into German shipping
North West firm Hill Dickinson is preparing to convert to a limited-liability partnership by October this year. The firm becomes the latest in making the leap to the new status. Last July, Hill Dickinson rival Halliwells, which also has its roots in the region, converted. Hill Dickinson has also announced an increase in average profit per equity partner of 17 per cent, rising from £221,000 in 2004 ...
Ince & Co has secured leave to appeal for reinsurers Cox and Cotesworth in one of the UK's largest reinsurance disputes to date.
Chicago-based Kirkland & Ellis has further bolstered its New York restructuring practice with the hire of the former chief legal adviser on insolvency and credit rights issues at the World Bank.
Latham & Watkins has bolstered its Washington DC-based litigation practice with the hire of the former counsel to the National Commission on Terrorist Attacks Upon the United States.
Latham & Watkins has continued its recent hiring spree with the lateral hire of leading tax litigator Roger Jones from Mayer Brown Rowe & Maw.
Latham & Watkins has capitalised on two consecutive years of impressive financial results by initiating a spate of lateral hires from rivals, including Howrey, Sullivan & Cromwell and White & Case.
City law firms have berated the Law Society for the ambiguity of new draft rules governing conflicts of interest.
Linklaters' burgeoning structured finance and securitisation practice in Asia has raided Clifford Chance for four lawyers. The firm has hired securitisation partner Mary Matson as a consultant and managing associates Paul Chu and Edith Au Yeung. Lora Lam will also be joining Linklaters in the coming weeks. The team ...
Partner profits at Lovells have nose dived, with average profits per equity partner (PEP) plunging 21 per cent from £541,000 to £427,000.
Finnish firm Roschier Holmberg has opened in Sweden with the hire of Mannheimer Swartling partner Axel Calissendorf.
In just two years, Mark Harding has dramatically reorganised Barclays’ legal function and instituted a full-scale review of its legal panel. Husnara Begum reports
New York law firm Milberg Weiss Bershad & Schulman has defended its position after the firm was implicated in a lawsuit against a retired Californian lawyer accused of receiving at least $2.4m (£1.3m) in illegal kickbacks from the firm.
Dutch firm Holland Van Gijzen, best known as Ernst & Young’s associated firm in the Netherlands and also Pinsent Masons’ best friend in the Netherlands, has shaken up its management board.Name partner Hans van Gijzen has stepped down as chief executive officer (CEO) with Amsterdam-based Dick Weiffenbach taking over the role, while Rotterdam-based partner Jan Meijerman has become vice chairman.
Bird & Bird and Nestlé’s in-house team have secured a landmark victory in the European Court of Justice (ECJ).
Nottingham Trent University Law School is to open its first law foundation degree in September. The aim of the course, which is run in conjunction with New College Nottingham (NCN), is to encourage students from non-traditional educational backgrounds to study law for two years at NCN. If successful, the school will give the students the option of entering the second year LLB degree at Nottingham Trent.First revealed on www.thelawyer.com 28 June
There would appear to be no definitive rule governing a solicitor's duty towards their client
US firm Orrick Herrington & Sutcliffe is planning a new outsourcing services company for other law firms.
Midlands firm Harvey Ingram has announced a record 40 per cent hike in profits. Average profit per equity partner (PEP) broke through the £200,000 barrier in the year to 31 March 2005. The firm’s turnover was also up, to £11.66m, an increase in fees of 15 per cent on the previous year. Harvey Ingram has offices in Leicester and Birmingham and has 30 partners and 110 lawyers.
US law firms have enjoyed yet another lucrative year, with five firms generating more than $1bn (£552.9m) in revenues.
A civil lawsuit against US law firm Sidley Austin Brown & Wood concerning the firm's alleged involvement in tax sheltering arrangements is to proceed after a judge declined to dismiss the claim.
SJ Berwin's role in advising Lion Capital (the former European arm of Hicks Muse Tate & Furst) on the £102.5m acquisition of noodle bar chain Wagamama is further evidence of how the City firm is muscling in on a client once synonymous with Weil Gotshal & Manges.
Skadden Arps Slate Meagher & Flom’s London office has confirmed its place as the lead corporate advisers to Doughty Hanson & Co after landing its second significant transaction for the private equity group in quick succession.
Slaughter and May has won a House of Lords decision confirming the powers of arbitrators using English law.
Speechly Bircham has lost both of the 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 to join US firm Brown ...
Niche IT firm Technology Law Alliance has poached Nabarro Nathanson partner Jeremy Newton.
Hit by a quick succession of 'no' votes and then budget disagreements, speculation on the future success of the EU is rife. Elizabeth Crossick and Gail Orton discuss the implications
John Fordham, head of commercial litigation, Stephenson Harwood
A career outside the law is a daunting prospect, so early planning is crucial. By Gary Sharp
A career decision, but by whom?
Partner charge-out rates at the top 10 City firms have breached the £500 per hour threshold for the first time.
Trowers & Hamlins has teamed up with the former Saudi Arabian associate firm of White & Case.
US firms have reaffirmed their position as the global leaders of M&A by continuing to dominate the worldwide tables for both announced and completed deals.
Sandra Day O'Connor, the first woman to serve on the US Supreme Court and seen as a crucial swing voter, is to retire leaving the door open for US President George W. Bush to select her successor.
Wachtell Lipton Rosen & Katz has stormed up the M&A rankings to take the top spot for the Asia-Pacific region for announced deals.
Watson Farley & Williams is gearing up to launch its first-ever German office following the appointment of two new partners.
NatWest and Greenwich NatWest claim set to reach $100m; Weil becomes first law firm to face court action over CDOs
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 in the ...