Herbert Smith scoops Standard Life brief
Herbert Smith has won a competitive beauty parade to secure a major role advising on the demutualisation of Standard Life. Corporate partners James Palmer and Geoffrey Maddock have been instructed by Merrill Lynch and UBS, which are coordinating the demutualisation. Slaughter and May (Glen James and Craig Cleaver) is advising Standard Life, while Dundas & Wilson is advising on Scottish issues.
SJ Berwin ramps up CIS advisory role
SJ Berwin has capitalised on its role in the outsourcing of the management of a £2.5bn property portfolio, picking up both parties as clients in the first sale from the portfolio. The firm advised the Co-Operative Insurance Society (CIS) in 2005 when it outsourced the management of its £2.5bn property portfolio to Axa Real Estate Investment Managers UK. SJ Berwin has now advised both Axa and CIS on the sale of properties for £87m. Nabarro Nathanson advised the purchaser, the property management arm of GE Commercial Financial Services.
Pinsent Masons secures win for KPMG pensioners
Pinsent Masons has successfully represented the trustees of KPMG Pension Scheme after the House of Lords upheld a High Court decision that KPMG was obliged to fund the scheme’s deficit. The Lords rejected KPMG’s application for permission to appeal the Court of Appeal’s judgment, ruling in favour of the pensioners who objected to the application. Pinsents head of pensions litigation Isabel Nurse-Marsh led the action and instructed Wilberforce Chambers’ Robert Ham QC and Michael Tennet. Linklaters acted for KPMG.