Banking and Finance News
Clifford Chance is understood to be losing four private equity associates to join partners at firms including Latham & Watkins and Simpson Thacher & Bartlett, underlining the vulnerability of magic circle firms to headhunters acting for US firms in London.
Firms vying for spots on Lloyds’ own-account panel have been given a week to file tender submissions to the bank in preparation for an October panel unveiling.
Ashurst has taken a trio of partners from O’Melveny & Myers and one from White & Case in a bid to boost its restructuring offering in Asia.
Quinn Emanuel Urquhart & Sullivan and litigation boutique Leon Kaye have formally joined the £4bn shareholder battle brought against the Royal Bank of Scotland (RBS) over its 2008 rights issue.
Barclays has turned to Sullivan & Cromwell to defend it against fraud allegations in the US, as analysts predict the bank could face a £1.2bn bill for a raft of litigation.
Withers has advised on the establishment of new industry body Innovate Finance, which supports the growth of cutting-edge technologies in the UK’s financial sector.
JPMorgan Chase & Co’s retail-banking general counsel Matthew Biben has left the bank three years after joining.
Allen & Overy (A&O), Linklaters and Portuguese firm Vieira de Almeida (VdA) have been instructed on the restructuring and rescue of Portuguese Banco Espírito Santo (BES).
Herbert Smith Freehills (HSF) is stepping up to defend the second major bailed-out bank facing a shareholder dispute over losses during the recession.
Banking and Finance Briefings
Lenders beware: the dangers of being a ‘shadow director’ download subscription
A shadow director may be someone who is openly involved in managing a company or someone who lurks ‘in the shadows’ behind the scenes.
Calculations on ISDA close-out: Lehman Brothers Finance SA (in liquidation) v Sal Oppenheim jr & cie KGAA download subscription
This case provides further guidance in relation to how payment on early termination of a 1992 ISDA Master Agreement should be calculated where automatic early termination applies.
Russia loosens rules on permitted income sources for residents’ foreign bank accounts download subscription
Last month, Russian legislators adopted major changes to RF Law No. 173-FZ, ‘On currency regulations and currency control’.
Banking and Finance Analysis
A flair for innovation sets apart the banking and finance teams on this year’s shortlist for top honours at The Lawyer Awards
As Swiss banks wait for the US authorities’ tax evasion spotlight to fall on them, law firms are drafting in extra staff to cope
Imagine you’re the general counsel of London-based private equity investor BC Partners. You’re sipping on your coffee, hashing out the details of your imminent £382m investment into UK-based business publishing company Mergermarket.
Banking and Finance Opinion
Have the magic circle firms squandered their lead in acquisition finance?
For some reason the politics of King & Wood Mallesons SJ Berwin’s corporate department attracts extraordinary attention online from our readers.
Financial incentives should be introduced for whistleblowers if we really want to encourage them