Over 130 jobs axed in Norton Rose Fulbright’s business overhaul
Norton Rose Fulbright (NRF) is implementing a drastic restructuring across its Europe, Middle East and Asia (EMEA) offices, with 132 jobs being cut.
Contenders emerge as Linklaters’ election race kicks off
Linklaters’ senior partner election race has begun in earnest, The Lawyer understands, as Charlie Jacobs looks set to leave the firm at the end of his term. The magic circle firm has begun a process that will conclude by mid-May, sources told The Lawyer. Jacobs is understood to have communicated internally that he will be […]
In court this week: Barclays, luxury property and Phones 4U
This week the courts will hear a claim brought by local authorities in England, in a dispute with Barclays Bank over loans worth more than £500m. The councils allege they were fraudulently sold the loans and that the bank manipulated interest rates on the ‘lobo loans’. A lobo loan, or lender option borrower option, is a […]
Taylor Wessing takes legal duties for Pfizer in vaccine rollout
Taylor Wessing is advising pharma giant Pfizer on aspects around the rollout of its Covid-19 vaccine across Europe, The Lawyer understands. The firm is understood to be counselling the company on patent issues arising from the unprecedentedly large-scale distribution of the vaccine it developed in conjunction with German biotech company BioNTech. It is understood that […]
Cayman DITC Portal Open for Economic Substance Filings
The Department for International Tax Cooperation (“DITC”) recently advised that an economic substance function is now available on its online portal (“DITC Portal”) for economic substance notifications and reporting to the Tax Information Authority (“TIA”).
British Virgin Islands – Regulatory Update
On 11 February 2021, the British Virgin Islands Financial Services Commission published the Financial Services (Prudential and Statistical Returns) (Amendment) Order 2021.
Cayman Islands Economic Substance Filing Deadline Looms Large for IP Companies and TROs
The Cayman Islands Department for International Tax Cooperation’s online portal (“DITC Portal”) opened in January 2021 to facilitate economic substance reporting to the Cayman Islands Tax Information Authority pursuant to the International Tax Co-operation (Economic Substance) Act (2021 Revision) (the “ES Act”).
Filing an economic substance declaration in Bermuda
In 2018, Bermuda enacted legislation with respect to economic substance requirements for entities based in the jurisdiction. All other major offshore jurisdictions enacted similar legislation at the same time.
Cayman Islands securities & banking country update
Partner Matthew Stocker and counsel Alex Davies from our Cayman Islands office provide an update on securities and banking regulations in the jurisdiction for Thomson Reuters Regulatory Intelligence.
Cayman Islands AML country update
In the Cayman Islands AML Country Update, Partner Matthew Stocker and Associate Zeppi Barefoot provide an outline of the Cayman Islands Anti-Money Laundering regime.
Over 130 jobs axed in Norton Rose Fulbright’s business overhaul
Norton Rose Fulbright (NRF) is implementing a drastic restructuring across its Europe, Middle East and Asia (EMEA) offices, with 132 jobs being cut.
Contenders emerge as Linklaters’ election race kicks off
Linklaters’ senior partner election race has begun in earnest, The Lawyer understands, as Charlie Jacobs looks set to leave the firm at the end of his term. The magic circle firm has begun a process that will conclude by mid-May, sources told The Lawyer. Jacobs is understood to have communicated internally that he will be […]
In court this week: Barclays, luxury property and Phones 4U
This week the courts will hear a claim brought by local authorities in England, in a dispute with Barclays Bank over loans worth more than £500m. The councils allege they were fraudulently sold the loans and that the bank manipulated interest rates on the ‘lobo loans’. A lobo loan, or lender option borrower option, is a […]
Taylor Wessing takes legal duties for Pfizer in vaccine rollout
Taylor Wessing is advising pharma giant Pfizer on aspects around the rollout of its Covid-19 vaccine across Europe, The Lawyer understands. The firm is understood to be counselling the company on patent issues arising from the unprecedentedly large-scale distribution of the vaccine it developed in conjunction with German biotech company BioNTech. It is understood that […]
DWF sets £25m revenue target for NewLaw units
DWF has set a target to achieve £25m in revenue for its Connected Services division, one of its biggest business bets beyond traditional legal services. The target is the result of a business plan aimed at expanding the innovation and consulting services tentpole of the listed firm throughout 2021. It is accompanied by a headcount […]
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Deliveroo heralds a bumper crop for ECM lawyers
There have been eight completed main market IPOs in 2021 so far.
Working to live, not living to work: it’s an easy sell
The demographics of the legal market are in flux with Covid 19 creating the conditions for a generational shift in working patterns.
A&O’s accidental LA office
With the arrival of the Akin Gump team, A&O’s US bench has doubled at a stroke.
Hausfeld loves a bit of competition
Calls for reform of the CMA will be music to the ears of claimant litigators.
Latham is taking both more and less space in London
If Latham’s growth rate continues unabated, its future home could end up offering proportionately less space per staff member.
£30m isn’t enough to get you into the Premier League
DMH Stallard has reached critical mass size – but it now has more work to do to secure its future.
Goodwin’s City revenue nears $100m after lateral hiring spree
Goodwin Procter’s London revenue soared by 34 per cent in the last financial year, as its headcount too increased by nearly a third. The US firm’s London outpost saw turnover rise from $74m to $99m. Meanwhile, global revenue at the US firm increased by 11.7 per cent to $1.49bn, while profits per equity partner rose […]
Magic circle trio paid just £10m in UK corporation tax in 2019/20
Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters paid just under £10m in corporation tax to the UK Treasury, their most recent LLP accounts reveal, as rate increases formed a key part of this week’s Budget proposals to repair the economy. The figures shine a light on how UK firms are likely to be impacted by […]
Newcastle United fails to dismiss Blackstone QC from arbitration panel
Newcastle United (NUFC) has been unsuccessful in its bid to have Blackstone’s Michael Beloff QC dismissed as an arbitrator in the club’s dispute with the Premier League. NUFC, which is owned by Mike Ashley, is currently engaged in arbitration proceedings with the Premier League over the failed takeover of the club. The club brought the […]
Kirkland and Slaughters lead on Aggreko’s £2.3bn sale
Kirkland & Ellis has taken the lead role for the private equity bidders on the £2.3bn buyout of equipment supplier Aggreko. TDR Capital turned to Kirkland yet again after last year seeking the firm’s counsel on its £6.8bn purchase of ASDA. Partners David Holdsworth and Mark Thompson led for TDR and I Squared Capital, with […]
Clifford Chance brings in consultancy to vet promotion process
Clifford Chance has concluded an independent review of its partner promotion process, to ensure criteria around diversity and inclusion are being fulfilled. The firm commissioned Chicago-based consultancy Nextions, which specialises in inclusion across leadership roles, to review its path to promotion. The effort started last autumn and wrapped in time for the beginning of the […]
CMS plants 8,000 trees after tracking staff’s carbon footprints
CMS has planted thousands of trees around the world, following its pledge to plant one for every new user of its in-house sustainability app. Last year, The Lawyer reported that the firm had created a mobile app to help lawyers reduce their carbon footprint. It came with the commitment of planting a tree for every […]
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