18 July 2011

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Board games

Independent directorships for hedge funds are in the spotlight as investors express concerns about governance. One of the last real operational areas of concern in the world of offshore hedge funds has to be the issue of corporate governance, especially the number and role of independent directors sitting on the boards of hedge funds domiciled […]

Top cats

Cat bonds, which cover the risk of natural disasters, have become big business offshore. Anthony Smyth and Philip Paschalides report on Irish and Cayman dominance in the sector The recent earthquakes and tsunami in Japan, together with other major natural catastrophes in both Australia and New Zealand, have caused large-scale devastation and tragic loss of […]

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Gib boom

Since the implementation of the Gibraltar Financial Services (Experienced Investor Fund) Act (2005), the territory’s ­Experienced Investor Fund (EIF) has proved a popular vehicle among the ­international investment management ­community. To date the majority of managers have chosen to structure EIFs as limited or protected cell companies, but there is increasing interest in using Gibraltar’s […]

Rebekah Brooks

Kingsley Napley partner advises Rebekah Brooks after phone-hacking arrest

Kingsley Napley partner Stephen Parkinson has been instructed by former News International chief executive Rebekah Brooks following her arrest in the wake of the phone-hacking scandal. Brooks resigned from her post as chief executive of News International, which owned defunct tabloid News of the World (NoW), on Friday 15 July. She was arrested by appointment […]

Latin love-in

It is estimated that more than 15,120 Latin Americans have an individual worth exceeding $30m (£19m), with their combined wealth amounting to at least $2.3tr. Brazil hosts some 31 per cent of the region’s high-net-worth ­individuals (HNWIs). These people in Latin America, like their counterparts elsewhere, are interested in taking steps to protect and enhance […]

King & Spalding acts on Mecca development

King & Spalding has advised on the first phase of a $27bn ($17bn) real estate development in Mecca, Saudi Arabia. Dubai-based King & Spalding partner Leroy Levy led on the project financing and negotiations for the Makkah Gate Project, working alongside partner Nabil Issa and counsel Tim Tucker. The team advised Bawabat Makkah Company, a […]

A&O, Links guide energy company Ophir’s debut on London exchange

Allen & Overy (A&O) and Linklaters took the advisory roles in the London IPO of Africa-focused oil and gas company Ophir Energy. The company, backed by steel magnate Lakshmi Mittal, expects to raise around $375m (£236m) from the listing, with shares priced at 250p. The listing valued the company at £798.7m. The IPO comes on […]

Pinsents bags solo role on broadband project

Pinsent Masons has won the role to act as sole legal adviser on the Department for Culture, Media and Sport’s (DCMS) £530m project to deliver super-fast broadband across the UK. The firm, led by partner Simon Colvin, is advising Broadband Delivery UK (BDUK), which was set up by the DCMS to deliver the Government’s strategy […]

CC and SJ Berwin lead as British Land buys 17 Virgin sports clubs

Clifford Chance and SJ Berwin scooped headline roles as British Land acquired 17 Virgin Active racket clubs for £179m from health club chain New Esporta Holdings. The portfolio of freehold and leasehold clubs was sold through a share sale agreement in a rare venture by British Land into the health clubs industry. Clifford Chance corporate […]

Nick Syson, Linklaters

Senior, junior or in the middle: the battle goes on

IMO, European Directories and WorldPay have done little to sort out intercreditor disagreements. Linklaters” src=”Pictures/web/c/c/i/Syson_150.jpg” /> Nick Syson, Linklaters It all used to be so beautifully binary. In the 1990s, workout ­battles were usually between the company and its banks. But that was before the complex financing arrangements associated with the leveraged market became the […]

Milan: Pedersoli and Marena D’Angelo have joined forces
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Hilex launch and Pedersoli expansion signals change for Italy’s independents

The Italian independent law firm market has undergone a shake-up, with the creation of a new firm and the merger of two existing practices. Milanese firms Pedersoli e Associati and Marena D’Angelo & Fagotto have merged, creating a firm of almost 100 lawyers. The merger follows the ­departure earlier this year of former Marena D’Angelo […]

Bar suffers knock-on effects of fees squeeze

Growth at the bar has slowed over the past ­financial year as a result of litigators piling pressure on fees to get the best deals for clients. Matrix Chambers chief executive Lindsay Scott said firms were becoming “much harder” at negotiating. “They’re driving down rates and want to get value for money,” she adds. “We’re seeing many […]

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