7 January 2002

Talking loud, saying nothing

Herbert Smith has long been trying to get away from its image as a litigation firm, offering many other talents. Including, it now seems, sound engineering.At its recent Paris conference, a group of somewhat inebriated partners rerigged the microphone equipment in the lecture hall so that, instead of amplifying the words of the speaker, it […]

Corporate summary

Ashurst Morris Crisp (Steven Fox, Mark Lubbock) advised SkyePharma on the licensing of its product Solaraze to Bioglan Pharma. Bioglan advised by Norton Rose (Rosalind Messer). Penningtons (Ron Allsopp) advised ICL Fertilizers, a division of Israel Chemicals, on the $45m (£31m) acquisition of potash producer Cleveland Potash from Anglo American. The transaction is conditional on […]

Baxendale-Walker partner faces charges over £2m pension fraud

Paul Baxendale-Walker, name partner in London, Nottingham and Glasgow firm Baxendale-Walker, is facing criminal trial over an alleged £2m serious fraud committed in 1994. City firm Russell Jones & Walker is also a defendant in a separate, but related, £4m civil claim to be heard later this month.Baxendale-Walker, a specialist tax lawyer, was indicted by […]

Out of arm's way

Tulkinghorn was delighted to hear that a young solicitor at Manches has come first in a competition to win the car of a famous television detective. How unfortunate, then, that the poor chap is temporarily without the most elementary of driving skills: the use of both arms. Manches solicitor James Went won the Mark II […]


Peter Scott, drector, Horwath Consulting If law firms really do need to develop their businesses internationally in order to meet their clients’ needs, then the starting point should be to examine those needs to find ways to better service them. That way they will be adding value and building competitive advantage for themselves.It is sometimes […]

Garretts pulls the plug on Cambridge

Andersen Legal firm Garretts has pulled out of Cambridge following the departure of lead partner Gerry Fitzsimmons. The office and two remaining corporate partners will be taken over by Taylor Joynson Garrett.Garretts’ decision was precipitated by Fitzsimmons’ move to a venture capital company, where he will become a non-legal director. Corporate partners David Mardle and […]

Law Society pension fund needs '£12m' cash injection

The Law Society has been forced to shore up its pension fund with emergency funds after suffering a loss of £12m due to a misguided investment strategy. Treasurer Ken Byass wrote to Law Society Council members late last year stating that the fund has “deteriorated to around 80 per cent” and “a contribution of approximately […]

Davis Polk, Simpson Thacher and Wilkie Farr make U-turn on associate bonuses

Davis Polk & Wardwell, Simpson Thacher & Bartlett and Wilkie Farr & Gallagher have made an abrupt about-face about reducing end-of-year bonus payments for associates. They have been forced to reconsider as competitors offered their associates twice that of the three New York firms.The most dramatic change will benefit associates at Slaughter and May’s best […]

Linklaters leads Investec into new DLC structure

Linklaters has advised niche investment bank Investec on a new dual-listed structure. It will allow the South African company access to the London Stock Exchange (LSE) and new sources of international finance.Although Linklaters has worked on several dual-listed mergers this year, this particular one is groundbreaking. Previously, dual-listed company (DLC) structures have been used when […]

Real Estate and Projects Summary

Gouldens (Suzanne Billington) advised Hercules Unit Trust on its £19m acquisition of Waterfields Retail Park, Watford, from Lancaster Holdings. Andersen Legal (Keith Barnett) advised Lancaster Holdings. Lovells (Jackie Newstead) advised BAA Lynton on an agreement that will see Radisson SAS (part of the SAS Airline Group) invest £40m in building a new hotel at Stansted […]

Finance Summary

Allen & Overy (Ulf Kreppel, Mark Friend, Paul Bedford) and Doralt Seist & Csoklich advised Schroder Salomon Smith Barney and the other managers in relation to the Blue Danube Loan Funding securitisation. Blue Danube issued e2.9m (£1.6m) floating rate asset-backed notes, due 2049, guaranteed by the State of Lower Austria. The proceeds were used to […]

Leading firms join P&O negotiations

Freshfields Bruckhaus Deringer, Slaughter and May and Herbert Smith are all advising on the proposed P&O-Royal Caribbean merger and the subsequent hostile takeover bid for P&O by Carnival.Freshfields and Slaughters were called in by P&O and Royal Caribbean late last summer. Freshfields worked on the demerger of P&O Princess from the parent company in late […]

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