26 June 2006

DLA Piper Europe and Asia reaps £366m

The Europe and Asia offices of DLA Piper Rudnick Gray Cary generated a fee income of £366.7m for the last financial year. DLA Piper Europe and Asia recorded a turnover of £322m during the 2004-05 financial year, ending in April 2005. Although the firm now reports figures based on a calendar year in line with […]

Cravath and Cadwalader snare key roles on $16.6bn Johnson & Johnson deal

New York firms Cravath Swaine & Moore and Cadwalader Wickersham & Taft have both grabbed the top roles on Johnson & Johnson’s $16.6bn acquisition of Pfizer Consumer Healthcare. Cravath partner George Schoen said old connections helped the firm win its role: “Johnson & Johnson is a long term client of Cravath. It’s a carve-out business […]

DLA gets the cheap seats as Tulkinghorn endures two days without football

Two days without football – can you believe it? Tulkinghorn couldn’t either, and went into hibernation in silent protest at the lack of legitimate reasons to duck out at 4pm for a swift pint or three. Joachim Fleury, head of TMT at Clifford Chance flew out to Germany for the biggest anti-climax of the World […]

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CPS hit by racism allegations

The Crown Prosecution Service has been rocked by accusations of racism by one of its own prosecutors, former barrister Uma Bhardwaj. Bhardwaj is taking the CPS to the Central London Employment Tribunal, claiming its recruitment strategy discriminates against black and Asian recruits. In 2004, the CPS offered Bhardwaj a role as a senior prosecutor but […]

Law Soc deficit rises to £8m

The Law Society’s annual deficit rose again last year to nearly £8m, the recently-published accounts reveal. The society’s income from practising certificate fees, investments and other sources totalled £110m in 2005, up from £103m in 2004. But expenditure rose by a greater amount to £118m, from £108.6m the previous year. However the society’s acquisition of […]

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Hammonds boosts profit 61 per cent; cuts borrowing by 38 per cent

Hammonds has seen a dramatic turnaround in fortune with average profit per equity partner (PEP) up 61 per cent to £328,000 after a year of tough management. The firm’s results, announced this morning (29 June) saw turnover rise by four per cent to £132.7m. Hammonds is now running with a profit margin of 23 per […]

Lovells rebuilds in Germany with Luther raid

Lovells has finally moved to rebuild its German securitisation practice with the hire of a three lawyer team from the Ernst & Young associate firm Luther. Partner Sven Brandt starts at the firm in August and brings with him Isabelle Knoché-Hess, who joins as of counsel, and associate Richard Reimer. Brandt said: “There is a […]

Howrey takes Haarmann competition partner

Howrey has scooped a third new lawyer for its Brussels office with the hire of former Haarmann Hemmelrath competition partner and Martina Maier. Maier is due to join Howrey at the end of July, according to German legal website JUVE. She worked in the Brussels and Paris offices for the now defunct Haarmann Hemmelrath, which […]

University set to build £10m Salford Law School

The University of Salford is building a new law school to compete with local rivals BPP Law School’s Manchester branch, the University of Manchester Law School and Manchester Metropolitan University Law School. Professor Alistair Alcock, formerly dean of law and later deputy vice-chancellor at Buckingham University, has been appointed as founding law professor. Alcock commented: […]

Freshfields launches Pac-Man defence for EMI

Freshfields Bruckhaus Deringer has scooped an instruction to advise EMI as its larger rival Warner Music launches a counter-bid for the UK music company. Known as the Pac-Man defence, Warner Music, which received a bid approach from EMI on 3 May, launched a bid for its smaller rival on 14 June. Warner Music’s initial alternative […]

White & Case wins Arcelor financing role

White & Case has won the instruction to advise the lead arrangers providing the financing of Mittal Steel’s EUR26.9bn acquisition of rival Arcelor. The deals will be financed through a EUR10.8bn syndicated loan, one of the biggest European deals of recent years. The loan consists of a EUR5bn and a EUR2.8bn acquisition line. The remainder […]

Freshfields to ditch all-equity partnership

Freshfields Bruckhaus Deringer’s partners have voted in favour of introducing salaried partners across all of the magic circle firm’s offices. The voting concluded earlier today (28 June) with the majority of Freshfields partners voting in favour of radical plans to abolish the firm’s cherished all-equity partnership. Freshfields’ partnership council approved the plans to create fixed-share […]

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