29 July 2002

Good lucking

While some may regard him as the Don Quixote of law, Kathryn Hobbs finds out that Hammonds managing partner Chris Jones’s optimism is well-founded

P&I club makes lawyer 'correspondent'

An English-qualified lawyer has been appointed as a front line problem solver by a protection and indemnity (P&I) club which mutually insures shipowners in Vancouver, one of the busiest ports in the world It is highly unusual for a P&I club to hire a lawyer as a so-called ‘correspondent’. Correspondents are based in large ports […]

Norton Rose reneges on partner payments

Cashflow problems hit partners by up to £100K each; firm rejects bank loan Norton Rose has run into a cashflow crisis and has failed to pay its equity partners their full profit share for the financial year ending April 2001. It is understood that partners are owed up to £100,000 each.Partner drawings have continued to […]

Finers blames 25 per cent profit slump on 'optimistic' accountancy

Finers Stephens Innocent is blaming accounting irregularities for its financial results this year, which have seen profits per partner slashed by 25 per cent In 2001, the firm reported its average profits per partner as £220,000; this year they were down to £176,000. However, the firm has now admitted that its estimates of the average […]

Profits hit by £1m fee on Withers' US merger

Withers has recorded flat profits this year after spending at least £1m on fees for legal advice on its transatlantic merger The firms used included Fried Frank Harris Shriver & Jacobson.Withers merged with US private client firm Bergman Horowitz & Reynolds in early 2001, making a net profit of £9m in the last financial year […]

All or nothing

Conditional fees for personal injury cases are one thing, but when it comes to major commercial litigation, Jon Robins finds out that the big City firms have yet to take CFAs to their hearts Most City lawyer might be forgiven for thinking that conditional fees were the exclusive preserve of their colleagues on the high […]

WorldCom pleads with US courts for extra law firms

Weil Gotshal to be joined by a host of extra US firms as bankrupt telecoms giant fights for rebirth Bankrupt telecommunications giant WorldCom has mounted a plea to the US courts to have five more law firms help it out of bankruptcy. Weil Gotshal & Manges is currently advising the telecoms company on its bankruptcy […]

Director action

John Madden and Lisa Toporek take a look at new directions for corporate governance in the US The recent corporate scandals at companies such as Enron and WorldCom have given rise not only to the perception that the ‘gatekeepers’, on whom investors rely to assure market integrity, have failed, but also to widespread expectations that […]

Terra Firma lands senior Nomura lawyer

Terra Firma Capital Partners, the new fund run by Nomura’s ex-head of principal finance Guy Hands, has poached a senior lawyer from the bank to take up the newly-created position of global general counsel Tim Pryce was the section head of transactions and legal for the principal finance group at Nomura before joining Hands’ team.Hands […]

Hogan extends its reach into China

Hogan & Hartson is expanding its international operations into China The Washington DC-based firm will open an office in Beijing in August.The office will comprise seven lawyers, including two resident partners – Jun Wei and Steven Robinson – who will share the role of managing partner. Wei, who has practised in China since 1993, has […]

Norton Rose completes rejig of management

Norton Rose has finalised its management team and appointed corporate finance partner James Bateson and litigation partner Patrick Farrell to fill the two remaining posts The appointments are very much in line with the firm’s strategy to modernise its management structure by including a number of younger partners.Chief executive officer (CEO) Peter Martyr said: “Patrick […]

Addleshaws licensing practice faces closure after head leaves

Addleshaw Booth & Co is facing the demise of its licensing practice following the pending departure of head of licensing Anthony Lyons The Lawyer can reveal that Manchester-based Lyons is one of the 11 equity partners being culled by Addleshaws’ management in April as part of the firm’s strategy for national growth. For the time […]

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