A total of 42 partners and staff of failed firm McClure Naismith have been left with no jobs to go to after the firm’s administrators worked to secure positions for the majority of the firm.
Scottish firm McClure Naismith has appointed administrators after several years of tumbling revenues meant it was no longer able to service its debt or other liabilities.
Pinsent Masons has advised energy company Total, as it sold £585m worth of North Sea midstream assets to North Sea Midstream Partners (NSMP), represented by Freshfields Bruckhaus Deringer and Shepherd & Wedderburn.
On 14 September the first-ever UK 200 real estate report will be published, a groundbreaking research project that forms the first part of this year’s new UK 200 series.
The University of Law has backtracked on its plan to launch a business school this academic year, saying that it had not yet recruited “a viable mix of students, with the correct level of attainment.”
Slater & Gordon has announced that group revenue has soared 27 per cent from A$411.1m to A$521.9m (£242.9m) for the 2014/15 financial year.
Former Ashurst head Charlie Geffen oozes confidence about the prospects for building his City corporate finance team.
Tesco has instructed Freshfields Bruckhaus Deringer to defend it against a number of shareholder group claims set to hit the London courts next year, The Lawyer understands.
Shakespeare Martineau has announced a redundancy consultation that has put 45 jobs at risk.
Global biopharmaceutical company Bristol-Myers Squibb has promoted Betty Edery to the post of general counsel for France, just over a year after making its last local head of legal appointment.
DLA Piper has hired a specialist construction team of three partners from Eversheds only three years after the same team joined the firm from Addleshaw Goddard and legacy McGrigors.
Environmental charity WWF and the Angling Trust have turned to Matrix Chambers to bring a judicial review against the Government over its failure to protect English waterways from agricultural pollution.
ABS Aspire Law has entered into a joint venture agreement with the Royal Buckinghamshire Hospital to create a service where clients with severe spinal injuries can receive rehabilitation treatment.
Baker Botts, Cravath and Gibson Dunn & Crutcher have all advised on oilfield services company Schlumberger’s $14.8bn purchase of equipment provider Cameron.
Linklaters has revealed its retention rate for its autumn 2015 qualifying trainees, with 84 per cent of its cohort staying at the firm in newly-qualified (NQ) lawyer roles.
Arthur Cox, Allen & Overy and Freshfields Bruckhaus Deringer have won top roles on the latest proposed online betting merger between Betfair and Paddy Power.
Allen & Overy (A&O) has revealed a retention rate of 86 per cent, keeping on 38 of 44 autumn 2015 qualifying trainees in newly-qualified (NQ) positions.
A pair of Israeli lawyers, including former Freshfields Bruckhaus Deringer associate Jackie Donner and lawyer and marketer Zohar Fisher, have launched the country’s first contract lawyer service, LawFlex.
South-East based TWM Solicitors is expanding its presence in London, with new premises in the capital taking the firm’s total number of offices to eight.
Barclays Bank has appointed Simon Croxford as general counsel for its Group Centre legal team, after the resignation of deputy group general counsel Michael Shaw in June.
Keoghs Solicitors is rumoured to be in talks to acquire defendant insurance firm Plexus Law in a deal which would create a £145m turnover firm.
Kaplan Law School has closed its Legal Practice Course (LPC) and Graduate Diploma in Law (GDL) to focus on “innovative new products” which will cater to new legal education frameworks.
Ashurst has hired Skadden Arps Slate Meagher & Flom’s former co-head of private equity Shaun Lascelles as a partner in its London office.
Macfarlanes has hinted that its South Africa base, which has been operating quietly for around 18 months, could become a fully-fledged client-facing office by the end of 2016.
Freshfields Bruckhaus Deringer and Slaughter and May have bagged top roles on the possible £5bn sale of RSA to Zurich Insurance, with the latter’s deadline to make a firm offer set to close today.
The London Boroughs’ Legal Alliance (LBLA) has announced it is retendering its barrister legal framework, which will be valued at between £20m and £25m over four years.
National Grid has appointed Addleshaw Goddard, Herbert Smith Freehills (HSF), Irwin Mitchell and Norton Rose Fulbright to a slimmed-down panel, with firms including Allen & Overy (A&O) and Squire Patton Boggs losing out.
CMS’s UK arm has saved around €100m (£72m) partly as a result of its move last month to new state-of-the-art headquarters at Cannon Place along with its business services deal with outsourced service provider Integreon.
Baker & McKenzie has posted a 4 per cent drop from $2.54bn to $2.43bn in global turnover for the 2014/15 financial year, following record figures that made it the largest firm in the world by revenue.
Highways England is looking to grow its in-house legal team over 2015, after the government agency was separated from its parent department the Department for Transport (DfT) in April.
Berwin Leighton Paisner (BLP) has revealed a retention rate of 71 per cent, keeping 17 of its 24 autumn 2015 qualifying trainees.
Clifford Chance has retained 96 per cent of its autumn 2015 qualifying trainees, keeping 45 of 47 on at the firm.
Scotland’s Burness Paull has again rewarded its staff with a bonus after a strong set of financial results.
The national strike by criminal barristers and solicitors against further cuts to legal aid fees has been called off after 52 days of continuous action following a ballot of members.
Beijing-based Haiwen & Partners, the first and only top-tier Chinese firm to adopt a Western-style pure lockstep, has decided to move away from this model after six years.
Scottish firm McClure Naismith is understood to be preparing to appoint administrators, and is thought to have approached firms such as Bond Dickinson, DWF and Irwin Mitchell, as well as a number of Scottish competitors, in the hope of securing a pre-packaged deal.
Herbert Smith Freehills (HSF) and Simmons & Simmons have won mandates on Qatar Petroleum’s inaugural legal panel, with other longstanding advisers such as Eversheds believed not to have made the cut.
Berwin Leighton Paisner (BLP) has hired corporate insurance partner Geraldine Quirk from Clyde & Co to boost its non-contentious insurance and financial services regulatory team.
Hitachi Rail Europe is to hire its first ever general counsel, less than a year after the company revealed which firms had won places on its inaugural legal panel.
ICL Holding general counsel Rouven Schwab has joined Squire Patton Boggs as a partner in its chemicals industry group in Frankfurt after he oversaw a large-scale divestment process for the special chemistry group.
Herbert Smith Freehills (HSF) has announced plans to implement agile working across all its London-based practice groups following the success of a trial initiative which began in March.
Irwin Mitchell has announced a 3.9 per cent rise in turnover for 2014/15 along with a 6 per cent increase in profit before tax in the wake of another acquisitive year.
Mayer Brown has revealed its autumn 2015 retention, announcing that it will retain just 55 per cent of its intake, with another trainee on a short term contract.
Singaporean firm Rajah & Tann has launched a new service to provide experienced lawyers to companies that need in-house counsel on short-term contracts and project-specific work.
Osborne Clarke’s former Belgian ally De Wolf & Partners has voted to dissolve, with its partners departing in four main groups to join other firms or set up alone.
Listed testing equipment group Intertek has appointed Joel Hanson as interim head of legal, as the company looks to announce a permanent replacement for outgoing chief Dan Williams.
Berwin Leighton Paisner (BLP), Clifford Chance and Taylor Wessing were among a lineup of five firms that advised on the largest property deal ever completed on London’s South Bank, the £550m Shell Centre redevelopment by Centrepoint owner Almacantar.
A cross-border team from CMS has acted for Munich-based Aurelius Group on its acquisition of Coats’ European crafts business, represented by Squire Patton Boggs.
Latham & Watkins has hired Clifford Chance’s Germany banking and capital markets head Alexandra Hagelüken in its third appointment from the magic circle firm’s German offices.
Long-term lending to UK law firms has risen to £7.35bn, a rise of 28 per cent over the last four years from £5.75bn in 2010, new research has found.
FTSE 250 construction giant Balfour Beatty has appointed David Mercer as its new group general counsel and head of legal following the departure of former general counsel and chief corporate officer Chris Vaughan.
Wragge Lawrence Graham & Co has seen its borrowings increase by 391 per cent, from £3.9m to £15.3m at the end of the last financial year, as a result of moving offices in Birmingham.
Freshfields Bruckhaus Deringer has announced that it has retained 83 per cent of its September 2015 qualifying trainees, with three turning down offers from the magic circle firm.
BLM has boosted its public sector group through the hiring of ex-DAC Beachcroft (DACB) abuse claims expert Paula Jefferson.
Financial services giant Prudential is currently in the process of reviewing its legal panel with the line-up set to be announced imminently.
A new pupillage run by two chambers and Norfolk’s public sector legal service has been launched for this September.
South West firm Foot Anstey has launched a ‘warm-desking’ pilot in its Bristol office, with managing partner John Westwell saying he also wants to encourage flexible working at the firm.
Dentons is in merger talks with London-headquartered Matthew Arnold & Baldwin (MAB) as part of its international expansion plan, The Lawyer understands.
DLA Piper’s South Africa ally Cliffe Dekker Hofmeyr pulled out of the relationship after it became apparent that partners would be forced into giving up control of the firm, chief executive Brent Williams has revealed.
Linklaters’ partnership board has finalised its official shortlist of managing partner candidates to replace Simon Davies when he steps down a year early in January.
DLA Piper has hired the chief operating officer (COO) of its South African ally Cliffe Dekker Hofmeyr to lead the opening of its own Johannesburg office.
A host of US and UK firms have scooped top roles on one of this year’s largest private equity takeovers of a technology company, as co-investors Carlyle Group and GIC agreed to acquire Veritas from Symantec for $8bn.
In response to Bruce MacEwen’s article on future law firms, Overture’s strategy director Mark Brandon argues that a corporate structure is not the way to go.
Freshfields Bruckhaus Deringer, Linklaters, Macfarlanes and Italian firm Pedersoli have scooped top roles on Pearson’s £469m sale of a stake in the Economist Group, less than a month after the publisher sold the Financial Times.
The dramatic split up of India’s largest firm Amarchand & Mangaldas & Suresh A Shroff & Co has created two separate firms led by two brothers - Cyril and Shardul Shroff.
Bircham Dyson Bell has reported an 18 per cent increase in net profit and average profit per equity partner (PEP) on the back of a 10 per cent rise in turnover to £34.5m.
Clifford Chance and Freshfields Bruckhaus Deringer have advised on the merger of annuity providers Just Retirement Group and Partnership Assurance, after the 2014 pension reforms led to a decline in product sales.
Cleary Gottlieb Steen & Hamilton has won the top role advising on Google’s corporate reorganisation and the creation of a new parent company called Alphabet.
Cravath Swaine & Moore, Mungo Tolles & Olson and Stoel Rives have won top roles on Berkshire Hathaway’s $37.2bn (£23.86bn) purchase of Precision Castparts Corporation, which manufactures metal components for Airbus, Boeing, GE and Rolls-Royce.
Simpson Thacher & Bartlett has represented private equity house Silver Lake in its $1bn (£644m) investment in equipment provider Motorola Solutions, advised by Wachtell Lipton Rosen & Katz.
Barclays’ head of M&A Khasruz Zaman has left the bank to join Simmons & Simmons in the latest in a string of high profile exits.
Chinese e-commerce giant Alibaba has turned to its long-standing advisers Simpson Thacher & Bartlett and Fangda Partners in a $6.9bn strategic partnership with Chinese electronics retailer Suning.
White & Case has become the latest US firm to open an office in Seoul with the relocation of current Korea practice head James Lee from Los Angeles.
RPC has announced that it is retaining 79 per cent of its September 2015 qualifying trainees.
The Metropolitan Police Service is retendering its national legal panel, which will cover 43 police forces and will be worth up to £24m.
Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have advised CK Hutchison Holdings and VimpelCom in their €21.8bn (£15.4bn) agreement to form one of Italy’s largest telecommunications companies.
Mintz Levin Cohn Ferris Glovsky and Popeo is scaling back its UK presence by no longer conducting European patent prosecution from its London office.
Spotify global head of corporate development and general counsel Jared Grusd is to depart to news outlet the Huffington Post to become the company’s chief executive officer.
Standard Chartered has appointed ICAP general counsel Duncan Wales as deputy general counsel following a legal and compliance shake-up last month.
Wolverhampton City Council is tendering a new legal framework set to launch in September, which will be worth between £4m and £8m.
Deutsche Bank general counsel Richard Walker will step down at the end of 2015, making way for his two deputies to take on the top job.
King & Wood Mallesons (KWM) merged with SJ Berwin just over two years ago - but integrating the merger has not been a completely smooth ride.
Fieldfisher’s top of equity has broken the £1m barrier for the first time, with partners at the top receiving 111 per cent more than last year.
An armada of law firms has been drafted in to defend an energy insurance coverage dispute brought by Herbert Smith Freehills (HSF) client SBM Offshore.
Cineworld Group has appointed in-house counsel Fiona Smith as its new company secretary and general counsel to replace outgoing Richard Ray.
Exclusive: Trowers ups trainee intake size and ringfences training contract roles for its own paralegals
Trowers & Hamlins is to increase the number of trainees it takes on, and will ringfence some training contracts for members of its own paralegal pool.
DLA Piper and its South Africa ally Cliffe Dekker Hofmeyr have announced that they are ending their exclusive alliance, with DLA expected to launch its own office in South Africa in the future.
It has been one of the largest acquisitions made by a firm to date, but this week Slater & Gordon (S&G) sought to put some distance between it and the historical accounting practices of Quindell as the latter came under investigation from the Serious Fraud Office (SFO).
Clifford Chance is advising pharmaceutical company Pfizer on allegations made by the Competition and Markets Authority (CMA) that it charged “excessive” prices for an anti-epilepsy drug.
Firms including Wragge Lawrence Graham & Co are aiming to reduce their lawyers’ stress levels by monitoring their voices on the telephone via an app.
A raft of UK, continental and US firms have advised on Coca-Cola Enterprises’ agreement to combine with Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke (CCEAG) to create the world’s largest independent Coca-Cola bottler based on net revenues.
US IP and litigation specialist Fish & Richardson has hired a team of five from Olswang’s Munich office including Herbert Kunz, head of the UK firm’s IP patent prosecution team.
All the latest partner hires and other appointments within Continental European firms and offices.
DWF has posted a 1 per cent growth in revenue to £191m for 2014/15, a significant slowdown in the rate of increase in the firm’s top line after several years of merger-fuelled expansion.
The Competition and Markets Authority (CMA) has appointed Deborah Wilkie to the newly created role of director of Civil Cartel Enforcement.
The average number of sick days solicitors take has fallen, says a Law Society report.
DLA Piper has added a second corporate partner in Australia in a week, as the firm tries to boost its corporate practice in the country.
Kirkland & Ellis Beijing co-founding partner Ya-Chiao Chang has left the firm to join Orrick Herrington & Sutcliffe.
I’m writing this at home, largely as a result of today’s Tube strike. How many Clifford Chance lawyers will also be working from home today?
Clifford Chance’s London managing partner David Bickerton has said the firm wants to recruit ten more trainees to cope with the increase in work the firm is experiencing.
Today’s issue is our last of the summer. Three weeks of summer sun with nothing to do but soak up the rays. Possibly.
Amid the clamour for work-life balance, law firms are responding with a series of flexible working policies that allow more people to work from home. And of course, with rents a major part of firms’ expenditure, it helps take the pressure off space requirements too. Will it soon become the norm?
Lawyer News Daily
Former Ashurst head Charlie Geffen oozes confidence about the prospects for building his City corporate finance team.