A former associate at US elite firm Skadden Arps Slate Meagher & Flom is suing the firm for defamation and wrongful termination of employment. Former Los Angeles-based associate Gary Green is suing Skadden in a Californian court, claiming he was fired from the firm after giving a junior associate a critical review. He alleges that […]
Shearman & Sterling has landed a lead role advising one of the largest victims of US hedge fund manager Bernard Madoff’s $50bn (£33bn) pyramid scheme. New York-based partners Steven Molo and James Garrity are leading a team advising Boston-based philanthropists Carl and Ruth Shapiro, who invested in excess of $500m (£329m) in the Madoff funds. […]
DWF has re-appointed managing partner Andrew Leaitherland for a second three-year term, after he stood in an uncontested election. He told The Lawyer: “The fact that no one else wanted to stand was a gesture of goodwill on the part of the partners and an endorsement of the strategy.” Leaitherland did not stand on the […]
I have had a lot of calls over the last few months from Managing Partners and Finance Directors of law firms asking for a second opinion as to whether the renewal terms offered by their bank are reasonable. These conversations invariably contain expressions such as “usury”, “daylight robbery”, “kicking a man while he is down” […]
Baker & McKenzie lays off NY associates” />Baker & McKenzie has become the latest US firm to announce layoffs due to the economic downturn. The firm has confirmed that six associates in the New York office have been laid off receiving a two months severance pay package. In a statement released to the firm, Baker […]
Osborne Clarke has revamped it management line up with the promotion of David Powell and Greg Leyshon to lead its Bristol and Thames Valley offices respectively. Property partner Powell will replace Mark Womersley as head of Bristol while corporate partner Leyshorn replaces banking partner Hugh Jones in the Thames Valley role. Both Jones and Wolmersley, […]
It is safe to say that few fees were billed at Clifford Chance yesterday amidst the logistical nightmare of having a chat with 880 lawyers and paralegals (see story). All day, lawyers from each of the firm’s eight practice groups piled into the firm’s windowless auditorium to hear the same pep talk from London management […]
Clifford Chance cash call was £60m” />Clifford Chance partners raised a total of £60m in their November cash call, The Lawyer can reveal. The amount raised equates to an average of £150,000 per equity partner, not the £100,000 per partner as has been previously speculated. Managing partner David Childs (pictured) told The Lawyer: “The finance […]
Slaughter & May and Linklaters have helped Land Securities and property business Telereal reach an agreement on the sale of Land Securities Trillium. Slaughter & May and Linklaters have helped Land Securities and property investment company Telereal reach an agreement on the sale of Land Securities Trillium for £444m in cash. Slaughters corporate finance partners […]
Cadwalader Wickersham & Taft has lost two bankruptcy partners, including its co-chair of restructuring Bruce Zirinsky, to Greenberg Traurig. Zirinsky will join Greenberg with fellow bankruptcy partner John Bae, despite the promise of a place on the firm’s management committee later this month. “Bruce has been trying to get on the committee for years,” said […]
Sonnenschein Nath & Rosenthal has won the lead role on the sale of US bank IndyMac after hiring 100 Thacher Proffitt & Wood lawyers. Sonnenschein Nath & Rosenthal has bagged the lead role on the $13.9bn(£9.19bn) sale of US bank IndyMac following its December capture of 100lawyers from Thacher Proffitt & Wood. Former Thacher Proffitt […]
Clifford Chance has begun a redundancy consultation that will lead to 70 or 80 London lawyers losing their jobs, while partners voted to significantly increase their cash contributions to the firm over the Christmas period. Clifford Chance to make 80 London lawyers redundant” class=”inline_image inline_image_left” src=”/pictures/web/images/15561_clifford_chance.jpg” />Clifford Chance has begun a redundancy consultation that will […]