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News

money finance

CMS’s corporate lawyers set to benefit from salary uplift

CMS Cameron McKenna Nabarro Olswang bumped up the salaries of its corporate lawyers this month, it has emerged, a day after it was confirmed the firm would be losing its UK private equity head to Goodwin Procter. The pay packets for London lawyers in the corporate team are understood to have been reviewed by the […]

mitie

Osborne Clarke set for High Court hearing in outsourcing clash with MoJ

The Ministry of Justice (MoJ) is continuing to defend itself from legal action launched by outsourcing giant Mitie, with the facilities management company calling on Osborne Clarke ahead of a High Court hearing next month. Mitie’s pursuit of the government department follows on from this month’s decision to award a contract to French rival Engie […]

Slaughter and May

Slaughters swoops for Mayer Brown partner

Following on from its first lateral partner hire in London two years ago, Slaughter and May has looked externally again for an entirely new role in its pensions team. Richard Goldstein joins Slaughters as a consultant and head of pensions knowledge from Mayer Brown, where he was a partner for nearly a decade. He began […]

CMS’s private equity head exits for Goodwin

Goodwin Procter’s private equity group in London have secured the hire of CMS’s practice head James Grimwood. Grimwood has been a partner at CMS Cameron McKenna since 2007 and played a pivotal role in the setting up of the firm’s Mayfair office. Appearing in The Lawyer Hot 100 for 2016, Grimwood saw an opportunity to grow […]

Düsseldorf

HSF transfers German offices to UK LLP to fend off Brexit concerns

Herbert Smith Freehills (HSF) has incorporated its German arm into its UK limited liability partnership so it can continue to operate as an international business in the jurisdiction after Brexit. The change, which took place at the end of 2019, was implemented because, in a Brexit scenario, the firm could not operate in the country […]

law school fees
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Era of borrowing ends as firms hoard cash in hand

The average level of borrowings at a cross-section of UK 200 firms fell for the first time in at least five years despite the cost of debt, often used to fund strategic goals such as office openings and lateral hires, remaining at record low levels. In 2017/18 the average amount borrowed by a representative sample […]

Talk

CMS, DLA and Osborne Clarke lead on CityFibre’s £200m acquisition

CMS Cameron McKenna Nabarro Olswang, DLA Piper and Osborne Clarke have all bagged roles in CityFibre’s latest acquisition in the network infrastructure sector. CMS advised the buyer on the acquisition of FibreNation from telecoms and network provider TalkTalk Group, which was in turn counselled by teams from DLA and Osborne Clarke. Corporate partner Katie Nagy […]

DACB raids Spanish firm for 20-lawyer group hire

DAC Beachcroft continues its Spanish expansion, as it gains a 20-lawyer team in Madrid from local firm Asjusa Abogados. The firm has integrated its Spanish office with lawyers joining from Asjusa, a boutique insurance and civil responsibility firm – specialising in Spanish healthcare law. Three partners and 20 lawyers – specialising in professional liability and […]

DLA Piper leads on restructuring of department store Beales

DLA Piper has taken a lead role in the administration of the latest retail company in the UK to fall into administration. Partner Barney Smedley from the firm’s Leeds office is leading a team acting for KPMG, which was appointed as administrators for Beales following a court hearing yesterday. The Bournemouth-based department store started facing […]

Brussels

Mayer Brown’s Brussels head departs for Noerr

The head of Mayer Brown’s Brussels office is to join German firm Noerr next month. Jens Peter Schmidt has been the managing partner of Mayer Brown’s Brussels office since 2014, and a partner at the firm since 2001 when he joined from Shearman & Sterling. He will join Noerr’s partnership on 15 February. The partner’s […]

Offices

Cadwalader ramps up in London with Norton Rose Fulbright hire

Cadwalader Wickersham & Taft has recruited its third London lateral in as many months, with the firm now set to bring on board a funds partner from Norton Rose Fulbright. This time the firm has picked Michael Newell, who specialises in funds and has been at Norton Rose Fulbright for a decade. As part of […]

BCLP loses another private client partner

Farrer & Co has boosted its private wealth offering with a hire from Bryan Cave Leighton Paisner (BCLP). Partner Georgina James joins Farrer & Co’s private wealth team after nearly 11 years at BCLP. She advises international families, trustees and family offices on cross-border taxation and estate planning issues. In particular, she has worked with […]

moves, lateral hires and exits

RPC hires DWF quartet to bolster restructuring group

RPC has hired a four-lawyer restructuring team to boost its restructuring and insolvency practice in the City. Finella Fogarty, the former head of business restructuring at DWF, will join RPC to lead the practice at her new firm. She brings with her three new joiners; counsel William Beck, senior associate Danielle Bennett and associate James […]

Hong Kong

Clifford Chance duo exit for Gibson Dunn in Hong Kong

Clifford Chance’s veteran Hong Kong litigation partner Brian Gilchrist has resigned from the magic circle firm and will join Gibson Dunn, as global firms focus on building up litigation practices in Hong Kong. Gilchrist will be joined by fellow litigation partner Elaine Chen as Gibson Dunn’s first major litigation hires in Hong Kong. They will […]

O’Melveny funds veteran resurfaces at HSF

One of O’Melveny & Myers’ last remaining London funds lawyers has emerged at Herbert Smith Freehills, continuing an exodus that began last year. Private equity veteran Jonathan Blake has joined Herbert Smith Freehills as head of its international private funds strategy. Blake’s departure leaves the US firm’s Paternoster Square office with just four remaining partners. […]

Latest Briefings

The international comparative legal guide to: Oil & Gas regulation 2020

By Bernd Rajal, Felix Schneider, Petra Šantić, Adrian Guzun The International Comparative Legal Guides provide current and practical comparative legal information on a range of practice areas, following a Q&A format to ensure thorough coverage of each topic within different legal systems worldwide. Chapter 6: Austria (Bernd Rajal & Felix Schneider) Chapter 11: Croatia (Bernd […]

Commercial concession agreements

Application by analogy of article 33(1)(c) of Decree-Law 178/86 of 3 July governing agency agreements On 4 November 2019, the Supreme Court of Justice issued judgment no. 6/2019 on an appeal for standardisation of case law. This followed the identification of two decisions of that court, handed down under the same legislation, that contain a […]

New rules on current invisible transactions and goods transactions

Banco Nacional de Angola (“BNA”) has approved another legislative package intended to contribute to the liberalisation the foreign exchange market. The package contains BNA Notices 1/2020 and 2/2020, both of 17 January 2020. Notice 1/2020 amends the rules on payment for goods transactions in Notice 5/2018 of 17 July 2020 and extends the exemption from […]

Competition and Markets Authority fines AppNexus £20,000 in digital market study

By Angela Gregson, Helen Saunders AppNexus Europe Limited (AppNexus) has been fined £20,000 for failing, without reasonable excuse, to comply with a Competition and Markets Authority (CMA) information request. It responded to a notice for information ten weeks after an already extended deadline and following a warning by the CMA that it would issue a […]

Predatory marriage and probate

By Andrew Bishop, Tara McInnes The concept of ‘predatory marriage’ may not mean a great deal to English lawyers, and certainly not probate practitioners, but with an aging population, and legislation in apparent need of reform, the harm caused by predatory marriage seems set to increase and can have serious and permanent testamentary effects. The […]

Beyond subscription lines: Fund financing trends spreading across the Atlantic

When we talk about “fund financing”, discussions tend to focus on subscription line facilities – the traditional “capital call” facility is the original cast member in an industry which has evolved and grown substantially over the last 15 to 20 years. Data today suggests 90 percent or more of European closed-ended funds currently being established […]

Walkers Fundamentals 2019 Private Equity Trends – Part 1

From our vantage point as advisers to many of the world’s top investment fund managers and financial institutions, broad market forces flow through to our instructions, and ultimately drive many of the terms of the funds we advise. In this four-part series we look at the current themes we have noticed in the investment funds […]

Shareholders agreements under Turkish law

By Demet Özkahraman 1. GENERAL The trading companies especially the joint stock companies are affected by the global economic growth and as a result of that, institutionalization of the internal managements of the companies has become essential impact. Particularly, since Turkey takes attention of the foreign investors, the merger and acquisition transaction (“M&A” or “M&A […]

Acquisition finance

By Igor Popa What Is Acquisition Finance? Acquisition financing is the funding a company uses specifically for the purpose of acquiring another company. By acquiring another company, a smaller company can increase the size of its operations and benefit from the economies of scale achieved through the purchase. Bank loans, lines of credit, and loans […]

Legal briefing on combating money laundering and terrorism financing of Mongolia

By Bolormaa Volodya By having failed to adequately comply with the recommendations of the Financial Action Task Force (FATF) on concerning anti-money laundering and counter-terrorism financing (AML/CFT) measures, Mongolia has been added to the FATF’s grey list along with Iraq and Zimbabwe on October 4, 2019. The FATF is an inter-governmental body established in 1989 […]

Vavilov: A comprehensive review in brief

By Kaisha Thompson, Guy Régimbald The last weeks of 2019 presented a new trilogy from the Supreme Court of Canada, which clarified the law on standard of review and provided guidance on the application of the reasonableness standard. The primary case is Canada (Minister of Citizenship and Immigration) v. Vavilov, 2019 SCC 65, which has […]

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