The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Herbert Smith has captured a new FTSE 100 client with the capital restructuring of high street retailer Next
The appointment came despite the fact that Next has previously used Eversheds and Simmons & Simmons for corporate work. Next has embarked on a share buyback programme, with financial advice provided by investment bank Lazards. Lazards suggested work on the capital reconstruction be referred to Herbert Smith corporate partner Anthony Macaulay, with whom the bank has a close relationship. The retailer has used Simmons for major corporate work in the past and Eversheds for smaller projects. Next has not been particularly active and last instructed Simmons corporate partner Chris Wilkinson over two years ago. The company did have a close relationship with retired Simmons partner Tony Dove. A Sim-mons spokesperson claimed the firm was neither surprised nor disappointed by Next's decision to use the rival firm. The capital restructuring is being led by Herbert Smith corporate partners Henry Raine and Louise Freestone. Raine indicated that the capital restructuring was "incredibly legally intensive", so presumably it is a lucrative instruction. Raine also said: "We hope to get Next's larger corporate work in the future." Herbert Smith will introduce a listed holding company requiring a court-approved scheme of arrangement. The process will free up reserves with which Next will buy back shares on the open market.