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Bingham McCutchen has elected four London lawyers to its partnership as part of a nine-lawyer global round of promotions.
The new partners, who took up their position on 1 January, are Neil Devaney, Michael Gustafson, Liz Osborne and Richard Hornshaw. All four lawyers focus on financial restructuring and disputes.
The latter, who was formerly based in the London office, has since relocated to Hong Kong to help grow the region’s securities and financial institution litigation capabilities.
The four promotions are in addition to the election of another London lawyer, financial regulatory and investment funds specialist Christopher Leonard, to Bingham’s partnership in June last year.
“Bingham has seen consistent growth over the past 16 years,” said the firm’s chair Jay Zimmerman in a statement. “The addition of these partners reflects the contribution of our successful London office to that growth, and is a further investment in our global finance platform.”
Bingham’s London lawyers have acted on a number of high-profile financial restructuring and financial litigation cases in recent years. This includes representing the bondholders of the three Icelandic banks (Glitnir, Kaupthing and Landsbanki) that are currently being restructured; the bondholders of Polish telecom and energy conglomerate Elektrim on nearly a decade of litigation, which resulted in a total recovery for bondholders of more than €700m; the noteholders on the €1.3bn financial restructuring of the Quinn Group; and the bondholders in nearly all the restructurings of high yield bonds in Norway, including Petromena and Skeie Drilling.
Bingham made no promotions in London in its 2010 or 2011 rounds, although since 2005 it has elected 10 partners in the UK and added 11 lateral partners.