In restructuring property finance, enforcement is not your only option, says Nicholas Crocker. In the current economic climate the most commonly cited cause of borrower default is breach of loan to value (LTV) covenants. It has recently been said that anyone who in the last few years bought at above 70 per cent LTV is […]
What makes a great firm? What makes a market leader? And what makes the market leader? Today’s Web Week is dedicated to a spat between two posters on a couple of last week’s stories, who seek to answer just those questions in a heated debate. ‘Water’ fight Two positive Freshfields stories appeared on TheLawyer.com this […]
As financial institutions look back at their restructuring practices, it has become clear that lessons need to be learnt from past mistakes. The explosion of restructuring work since the start of the year means an increasingly large number of hedge funds, banks, agents and advisers are poring over 2005-07 leveraged loan deals. Now is the […]
LG is locked into paying 6.27 per cent interest on an £8.2m loan for the next nine years at a time when the UK base rate has dropped to 0.5 per cent. The firm agreed to the terms on the Barclays Bank loan last April, when Libor stood at around 5.8 per cent. The interbank […]
Ashurst has selected private equity partner Stephen Lloyd as managing partner of its corporate practice. He replaces Roger Finbow, who is due to retire at the end of the year.
Finbow has been a partner at Ashurst since 1985 and corporate managing partner for five years. He announced that he was going to stand down in January 2008. Adrian Clark remains the European head of corporate at the firm.
BT has further shrunk its panel for the third review in a row having appointed a total of 11 firms to its roster. The panel will run for three years and includes 10 firms that have been reappointed from 2020. Those continuing their relationship with BT after the latest review are the likes of Allen […]
Dentons has promoted 12 lawyers to partner in the UK, Ireland and Middle East (UKIME) this year, including nine partners in London. Of the remaining three promotions, two were made in Glasgow and one was made in Abu Dhabi. Most of the promotions have been made in the projects team, with Claudia Thomas and Graham […]
Freshfields Bruckhaus Deringer has made up 23 lawyers to partner globally in its smallest round for three years. Last year, the magic circle promoted 30 to partnership worldwide, with 27 making the grade in 2022. There were 22 elevations in 2021. As a result, the London set is also slightly smaller than in previous years. […]
The Lawyer‘s Christian Smith, Catrin Griffiths, Richard Simmons, Katy Dowell and Charlotte Lear are joined by College of Legal Practice CEO Giles Proctor for this emergency episode of The Lawyer Podcast as they discuss the latest Solicitors Qualification Exam debacle: marking errors that led to 175 students being incorrectly told they had failed. What went […]
Fieldfisher is bolstering its German presence with a sizeable team from local firm SKW Schwartz and a handful of other hires, in an effort to expand its media, technology and IP offerings. The firm has hired eight lawyers from SKW Schwarz including partners Martin Diesbach, Elisabeth Noltenius and Julia Schafdecker, all of whom specialise in […]
This report contains: an overview of the history of UK and US firm in Russia an analysis of the opportunities, challenges and litigation brought on by sanctions regimes a summary of the firms acting in Russian litigation in London
This report contains: an analysis of 15 UK firms’ cash flow management and lock-up trends over the past five years lock-up correlated with profitability to demonstrate the impact of strong financial management for firms’ bottom line details on the adoption of technology by firms to make their financial management more efficient
This report contains: an overview of the international strategies of the Iberian firms in The Lawyer‘s European 100 an analysis of the expansion strategies of Spanish and Portuguese-heritage firms in key jurisdictions outside of Iberia
This report contains: an analysis of the Scottish legal market as a whole, covering key locations and sectors the challenges and opportunities of doing business in the country analysis of the Scottish independent firms’ efficiency
This report contains: a look at the profitability and growth of Quinn Emanuel’s London office since its opening in 2008 an analysis of Quinn’s bench strength and how it weighs up against competitors an overview of Quinn’s practice in London
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Talent churn is accelerating among the junior ranks with today’s associates more mobile than the generations before them. The concept of long-term professional loyalty is fading as Gen Z rises. These lawyers ask not what they can do for you, but what your firm can do for them. This generational shift in working attitudes is […]
Hooray, big-ticket M&A is having a mini-revival and so are the firms that make so much of their money out of it. Already in 2024, major European M&A deals to have been announced include International Paper’s £5.8bn planned acquisition of London-listed packaging company DS Smith, which trumped another offer from rival Mondi. Other significant matters […]
On Tuesday last week (9 April), the SRA sought to quell a rising tide of discontent around the Solicitors Qualifying Examination (SQE). In its most recent SQE annual report, SRA chief executive Paul Philip said the public and profession could have “confidence” in this “rigorous assessment”. That confidence was short-lived. Yesterday (15 April), Philip was […]
For one firm, the pan-Nordic dream is dead. For another, it’s just begun. Hannes Snellman’s announcement that its Stockholm and Helsinki offices will be going their separate ways later this year represented the end of a strategic gamble that started 16 years ago. Back then, its leadership bet that opening in Stockholm (2008) and Copenhagen […]
It seems that one of the chief attributes of managing partners is wild optimism. You can’t move for law firm leaders committing their firms to hardcore five-year targets – particularly in the upper mid-tier, where we’re hearing of plans to double or even triple revenues by the end of the decade. We’d like some of […]
Debevoise & Plimpton is hiring from Goodwin Procter as it adds a new partner to its London investment funds team. Shawn D’Aguiar is switching to a new US firm in London eight years after joining Goodwin from King & Wood Mallesons (KWM). He was part of a four-partner team move led by then funds head Michael […]
Barclays lost 44 lawyers in its legal team over 2023, almost four times the average number of leavers across the UK’s top banks. The banks with the second highest number of leavers is tied between HSBC and NatWest, with 12 lawyer exits each, according to indicative data. On the other end of the scale, Royal […]
CMS’s promotion numbers have ebbed slightly in its latest round seeing 10 elevated to the partnership in the UK and a total of 54 globally. In 2023, CMS promoted 65 lawyers to partner globally, with 16 of these in the UK, compared with 40 in mainland Europe. For this year the UK cohort is made […]
Another partner from Milbank’s financial restructuring team is set to leave the firm, this time joining Allen & Overy ahead of its merger with Shearman & Sterling. Karen McMaster is the latest partner loss from Milbank following last month’s news of a structured finance team led by partner John Goldfinch moving to Allen & Overy, soon […]
Herbert Smith Freehills (HSF) has promoted 27 lawyers to partnership, with eight making the grade in London. This year’s cohort is smaller than last year, when 32 promotions were announced, but it brings the figure back in line with pre-pandemic rounds. Over half of this year’s cohort has been promoted in the UK and Australia, […]
