DLA Piper International was boosted by a £30m cash injection after it converted to an all-equity partnership structure while capital contribution demands fell by 15 per cent as a result of the switch. The firm switched to all equity on 1 May to reduce the its exposure to the bank lending. In the 2011-12 financial […]
So how close is SNR Denton to Barclays? Confusion reigns over the extent of SNR Denton’s relationship with Barclays after the firm confirmed it had been dropped from doing lease management work for the bank, but Barclays claimed otherwise. The management of Barclays’ mammoth legal panel is perceived to be among the best in the […]
BLP turns its partner poaching sights on A&O Berwin Leighton Paisner’s (BLP) lateral hiring strategy is plain to see. Since before the downturn the firm has been paying whatever it takes to recruit the partners it wants – and more often than not it wants partners from the magic circle and top US firms. In […]
Former Dewey staffers’ long and winding road to notice period payments One feature of the Insolvency Service is that it offers pay to staff made redundant for a notice period they were not given – thought to be four weeks in many cases. In other words, they would usually get paid for the notice period, […]
Secondment scheme pays off for Ashurst There was little doubt who Petra Energia would appoint as legal adviser when it took a $703.6m (£450m) credit line from Citibank to fund subsidiary Stein SP Participações this summer (17 July 2012). After all, Eduardo Pereira, the Brazilian oil and gas group’s chief legal officer, had just spent […]
Check out the riggers and riders as firms line up for work on the fallout from recent banking scandals. By Sam Chadderton “When money is the measure of all worth, constraints on the temptation to fix Libor or knowingly sell shoddy products are greatly reduced,” FSA chairman Adair Turner said in a speech last week. […]
Brand positioning is relative, and it’s complex. Take The Lawyer UK 200 Annual Report – the most extensive and detailed study of law firm finances available. When we pore over the financials and interview managing partners and finance directors, the variety of law firm structures proliferates year-on-year. That makes categorisation increasingly vexed. Managing partners all […]
Lawyers must take care to establish the status of clients when advising on the UK Bribery Act, says Gibson Dunn & Crutcher partner Patrick Doris The Bribery Act 2010 asserts the UK’s jurisdiction over offences committed anywhere in the world by millions of individuals who are neither British citizens nor ordinarily resident in the UK. […]
Is CMS one firm or a collection of different practices across Europe? With a US offensive looming, this matters If it looks like a duck, swims like a duck and quacks like one too, then it probably is a feathered, mostly water-dwelling bird of the Anatidae family. Sometimes though it’s more complicated than that. The […]
The ARP is on its way out and law firms are becoming more commercial, which should make renewals less fretful In brief The 1 October renewal period for solicitors’ professional indemnity insurance is fast approaching. Underwriters are predicting a turbulent year as the Assigned Risks Pool (ARP) is phased out, bring about increased competition and […]
Lynette Williams is global head of client and sector development for Clifford Chance’s corporate practice. Formerly head of business development at Herbert Smith, she has been with the firm for almost 18 months and has dual responsibility for business development in the global corporate practice and sector development across nine of the firm’s 12 industry […]
Civil Procedure (1) Barber; (2) Jangra; (3) Ceng Overseas Ltd (a company registered in Cyprus) v (1) Rasco International Ltd; (2) Rassouli-Elchin Ayaz Mustafa, unreported. Judge Thornton QC. 28 June 2012 An interim payment was ordered in respect of a judgment against a partnership that was in the process of being wound up, notwithstanding the […]