The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
Californian firm Orrick Herrington & Sutcliffe has scooped work from the State of California to advise on a $9bn (£5.67bn) municipal finance deal, the largest such offering made in a single day
The firm acted jointly with Los Angeles-based Curls Brown & Duran on the second tranche of the two-part deal, which involved a $3.5bn (£2.21bn) note programme. The notes were issued to fund California's cash requirements for the 2002-03 fiscal year, including the repayment of $7.5bn (£4.73bn) of short-term warrants sold last June, which will mature between now and January 2003.
The deal was led by San Francisco partner Robert Feyer, with support from special counsel Bill Donovan and tax partner Perry Israel.
Feyer said the timing was critical, because the short-term warrants issued in June matured only a month after the budget had been approved. As the state was prevented from issuing further notes until the budget was approved, it had one month to complete the deal.
California had experienced high levels of debt because, during the 2001 energy crisis, the state used over $6bn (£3.78bn) of then surplus cash to buy electricity from generating companies.