1 December 2008

1

Bakers acts on launch of green private equity fund

Baker & McKenzie has won a mandate to help set up a $5bn (£3.4bn) eco-friendly private equity fund run by former Man Group chief executive Stanley Fink. Earth Capital Partners will manage three funds, investing in projects and companies with a sustainable focus, dealing with climate change, water shortages and energy security. Bakers London head […]

Christie’s GC to create formal legal panel

Christie’s general counsel Nick Deeming has begun constructing the auction house’s first legal panel and has written to a number of firms inviting them to tender. Christie’s general counsel Nick Deeming has begun the process of constructing the auction house’s first legal panel and has written to a number of firms inviting them to tender. […]

1

Proskauer Rose makes 60 redundancies

Proskauer Rose has become the latest US firm to announce layoffs, shedding 35 associates and 25 support staff. A statement released by the firm said: “We are taking these actions in response to the worldwide economic crisis, as well as an unprecedented reduction in our historical lawyer attrition rate, which requires that we align our […]

2

UK and US firms win Singapore licences

Allen & Overy, Clifford Chance, Herbert Smith, Latham & Watkins, Norton Rose, and White & Case win right to practise local law in SIngapore. The Singapore Government has awarded Qualifying Foreign Law Practice (QFLP) licences to four UK firms and two US firms. Allen & Overy, Clifford Chance, Herbert Smith, Latham & Watkins, Norton Rose […]

1

Mayer Brown, Wachtell lead in Chevy Chase sale

Latham & Watkins, Mayer Brown and Wachtell Lipton Rosen & Katz have snared key roles advising on US bank Capital One’s acquisition of Chevy Chase Bank. Partner Ed Herlihy led a team from Wachtell advising Capital One on the $520m acquisition, while Mayer Brown partners Jim Carlson and Scott Anenberg advised Chevy Chase. Latham partner […]

1

Knowing your outplace

As redundancy packages go, that offered by Nabarro to the 22 staff currently in consultation is on the good side of average. The firm is offering the statutory minimum payout and the notice period pay – plus an extra month – and outplacement services. Outplacement is increasingly trendy and a must-do for any self-respecting law […]

Osborne Clarke makes nine redundant

Osborne Clarke is to make eight fee earners and one member of support staff redundant. It comes as the firm reported a five per cent dip in revenues to £44.2m from £46.4m at the half-year point. The Bristol headquartered firm said these numbers were “better than expected” given the fall off in deal volumes valued […]

14

SFO faces £10m legal bill on collapsed pharma investigation

The Serious Fraud Office (SFO) could face a £10m legal bill following the collapse of its £25m, six-year investigation into alleged price fixing by drug manufacturers. The SFO had accused pharmaceutical companies Goldshield, Kent Pharmaceuticals, Generics (UK) and Ranbaxy, of conspiring to defraud the NHS through an alleged pharmaceutical cartel. The SFO’s original indictment only […]

Cleary, Dewey, Milbank cut associate bonuses

Cleary Gottlieb Steen & Hamilton, Dewey & LeBoeuf and Milbank Tweed Hadley & McCloy have matched the new market rate for year-end associate bonuses. Both firms will pay associates bonuses ranging from $17,500 for the class of 2008 and up to $32,500 for the class of 2000. Milbank and Cleary have matched the precedent set […]

Reed Smith to shed 11 City associate jobs

Reed Smith to shed 11 City associate jobs” />Reed Smith has launched a redundancy consultation in the UK with 11 associate jobs under threat. In a memo sent to staff the firm said it is looking to lay off 115 embers of support staff across its US offices as well as the redundancies in the […]

O2 slashes panel to two firms as GC quits

Mobile phone company O2 has completed a radical overhaul of its legal function that has seen general counsel Justine Campbell leave the company and Clifford Chance and Herbert Smith appointed as sole advisers in Europe. Many former panel firms, including Freshfields Bruckhaus Deringer, Olswang, and SJ Berwin, missed out in the wide-ranging panel review, which […]

1

White & Case unveils new management structure

White & Case unveils new management structure” />White & Case has revamped its management structure for the second time in two years, electing new practice and regional group heads. Earlier this year The Lawyer revealed that the US firm was overhauling its management structure to create regional and practice group divisions after management consultant McKinsey […]

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