Latest

The latest legal news from The Lawyer, covering UK and international deals, disputes, lateral hires and updates on law firms and the Bar.

News

Exit sign

Squires quartet part ways with firm

Four more partners have left Squire Patton Boggs’ London office, in the wake of former managing partner Robert Weekes’ move to Crowell & Moring earlier this month. UK litigation head Laurence Winston and restructuring partners Paul Muscutt and Cathryn Williams are to part ways with the firm, while Robin Baillie in the infrastructure practice is […]

Dublin

Burges Salmon braces for no-deal Brexit with “defensive” strategy

Burges Salmon is preparing for the possibility of a no-deal Brexit, with plans to resort to a newly-created Irish partnership structure if Britain cannot agree terms with the EU. The firm is concerned that a no-deal outcome could derail the firm’s IP and trademark work in Europe, a fear that led it to create a […]

Shearman’s revenue closes in on $1bn barrier

Shearman & Sterling’s global turnover increased by 5 per cent over 2018, though the pace of growth has fallen behind some of Shearman’s US peers who have all reported double-digit gains this year. Turnover at Shearman rose to $955.5m in 2018, an increase of 4 per cent. This followed the addition of just $5m to […]

Addleshaws’ senior partner faces fresh challenge in firm elections

Addleshaw Goddard’s senior partner Charles Penney faces a challenge to his bid for another term, with another contender stepping forward to take on the role. Penney, who is seeking a second term in the top job, will run against contender Michael Leftley, who heads the employment, incentives & immigration group in London. Leftley has been […]

Ashfords and Boyes Turner walk away from £60m merger

South-West pair Ashfords and Boyes Turner have backed away from a merger that would have created a firm with around £60m in turnover. The firms revealed last December that their tie-up would go live on May 1, trading under the name Ashfords. That firm was by far the bigger party, generating £42.2m in 2017/18. Yesterday […]

law school fees

DWF borrowings skyrocket to nearly £60m ahead of IPO

With the firm just weeks away from listing on the London Stock Exchange, DWF has revealed its borrowings increased by 43 per cent over 2017/18 to nearly £60m. According to its LLP accounts, DWF’s borrowings rose from £41.5m to £59.2m between April 2017 and April 2018. The figure is understood to be one of the largest […]

art

Charles Russell Speechlys snares partner duo for arts law foray

Charles Russell Speechlys is launching a new practice aimed at capturing the legal issues surrounding the art market on an international level. The practice, which will advise market players including dealers, collectors, gallery owners and artists themselves, will be spearheaded by partners Tim Maxwell and Rudy Capildeo, who will join the firm in April from London-based […]

Reed Smith’s recovery continues as turnover rises 5 per cent

Reed Smith’s global revenue has risen for the second consecutive year, exceeding levels recorded in 2015 for the very first time. Despite the 5 per cent uptick, the firm’s revenue continues to be around the $1.1bn mark. Over 2018, Reed Smith’s turnover increased from $1.119bn to $1.175bn. This compares to Reed Smith’s financials four years ago […]

City

Cadwalader’s London results suffer after restructuring exits to Milbank

Cadwalader Wickersham & Taft’s London office recorded a double-digit decrease in its revenues, after a series of big-billing partners left the firm for Milbank Tweed Hadley & McCloy at the start of last year. City turnover fell from $50m to $43m, although the firm added that revenues increased overall when discounting the partners who exited. […]

money

Akin Gump City revenue soars past $100m mark

Akin Gump Strauss Hauer & Feld’s City figures jumped 28 per cent over 2018 in the firm’s best set of London results since its deal with Bingham McCutchen in 2015. The London office’s turnover increased from $96.2m (£73.8) to $123.5m (£94.7m) over 2018, outpacing global growth by some margin. Akin Gump’s overall revenue nudged up slightly […]

Freshfields Bruckhaus Deringer

Freshfields weighs in on £3bn tussle for plastics group RPC

The battle for UK plastics company RPC is heating up after it was revealed that US giant Berry Global, represented by Freshfields Bruckhaus Deringer, may bid against Apollo for the group. Slaughter and May partners Andy Ryde and Paul Mudie have been advising RPC Group throughout the process. Ryde leads Slaughters corporate practice, while Mudie […]

New York Stock Exchange

New Law momentum continues as Axiom gears up for IPO

Flexible legal resources provider Axiom has filed for an IPO after several years of deliberation, in a bid to obtain extra investment for further expansion. The provider has submitted a draft registration statement with the Securities and Exchange Commission in New York, but the filing did not disclose a range for the pricing of shares or […]

Deals

DWF grabs mandate on Flybmi’s collapse

Flybmi has become the latest airline to enter into administration, with the company citing Brexit uncertainty as one of the main reasons for its collapse. DWF is acting for the administrators BDO, with a team led by Leeds-based associate partner Matthew Brown. The airline cancelled all flights over the weekend with immediate effect. DWF is understood to […]

Patisserie Valerie

Bristol firm enlisted in surprise buyout of Patisserie Valerie

Burges Salmon has been summoned to the rescue of scandal-struck café chain Patisserie Valerie, which has been bought by an Irish private equity company. Corporate restructuring partner Andrew Eaton is acting for Causeway Capital Partners, which has rescued Patisserie Valerie from its administrators KPMG for an undisclosed sum. Prior to joining Burges Salmon in 2016, Eaton […]

Liberty

Scottish firm grabs mandate in Liberty’s potential sale

Burness Paull is acting in the potential sale of landmark department store Liberty, as it is poised to change hands for the first time in nearly a decade. It is understood that private equity firm BlueGem Capital Partners, which bought Liberty for £42m in 2010, has recruited bankers to explore a potential sale. Glasgow-based capital markets […]

Global News

Future of K&L Gates’ Warsaw office in doubt as firm enters strategic review

K&L Gates is considering closing its office in Warsaw, The Lawyer understands, mirroring similar strategic reviews held at other US firms with outposts in the CEE region. A management meeting is understood to have been set up for this week to discuss plans around a potential pull-out from the city. The firm declined to comment on the […]

Budapest

Squires pulls the plug on Budapest in latest CEE exit

Squire Patton Boggs has closed its Budapest office following a strategic review that echoes the destiny of a number of international firms in the region. The US firm’s five-strong Budapest office, which officially shut in late January, was helmed by managing partner Akos Mester, who previously co-led the office with M&A lawyer Akos Eros as […]

Hong Kong

Ropes quartet defects to White & Case in Hong Kong

A four-lawyer private equity team led by partner Daniel Yeh has left Ropes & Gray’s Hong Kong office for White & Case. Yeh, who joined Ropes from Weil Gotshal & Manges in 2015, is to be appointed head of PE for White & Case in Asia Pacific. He is taking a team of three; Ropes […]

oil gas

Former A&O partner embroiled in Dutch corruption probe

Allen & Overy’s (A&O) former Dutch senior partner Sietze Hepkema has been called to appear in court as a witness, in the latest development to a long-running corruption saga involving oil and gas company SBM Offshore. The probe into SBM Offshore has been rumbling on for well over seven years and concerns allegations that bribes […]

Global Features

DAC hires Kirkland partner to lead banking practice

DAC Beachcroft has hired Kirkland & Ellis partner Chris Wall to head the firm’s banking practice after 18 months in the US firm’s London partnership. Wall – a former Clifford Chance associate – is now tasked with leading the practice, alongside areas of both real estate finance and corporate law. His arrival follows the firm’s […]

moves, lateral hires and exits

Latham hire proves US firms are on the hunt for real estate PE talent

Latham & Watkins has hired a new partner from Jones Day, making him the US firm’s latest recruit into its City private equity practice. Neil Ferguson has worked at Jones Day for 22 years, so is something of a lifer. His client list includes Goldman Sachs, China Vanke, Hansteen Holdings, Bain Capital Credit and Davidson Kempner. […]

Elle Todd, Reed Smith

Reed Smith brings in CMS digital head in effort to boost tech practice

CMS Cameron McKenna Nabarro Olswang digital and data head Elle Todd has moved to Reed Smith, as the firm looks to expand its tech presence. Todd was a partner at Olswang for 18 years before the merger with CMS. She spent three of those years in the firm’s Singapore office. At CMS, Todd led the Digital Academy, […]

Morgan Lewis pulls off 15-lawyer Squires raid to open Abu Dhabi office

Morgan Lewis & Bockius has completed a multi-office 15-lawyer raid on US rival Squire Patton Boggs, bringing over a seven-lawyer team in Washington DC, and an eight-lawyer team to launch in Abu Dhabi. The office will open at the beginning of March and will be the firm’s 31st office globally. It is the firm’s second UAE-based […]

Latham’s Kandel in surprise exit as MoFo makes belated London push

Latham & Watkins partner Christopher Kandel has left the firm to join Morrison & Foerster. The London-based partner has until now co-chaired the US firm’s global banking practice, acting on leverage finance and restructuring transactions. Throughout his career, he advised European acquisition financing matters, capital markets and structured loans. He recently provided legal advice on […]

Freshfields loses insurance regulation head to Mayer Brown

Freshfields Bruckhaus Deringer head of contentious insurance regulation Chris Chapman has moved across the City to join Mayer Brown as a partner. Chapman will start his new role on 20 March and strengthens the firm’s banking and regulatory disputes practice which was understood to have been identified has been a key part of London strategy. […]

Myles Mantle

Jones Day project finance partner finds new home

Ex-Jones Day project finance lawyer Myles Mantle is to join Haynes and Boone, having left the partnership at Jones Day at the end of last year. Mantle was one of two Jones Day project finance lawyers to leave the firm in one go. His contemporary, Nick Collins, took a job in the partnership at Baker […]

Bakers adds to M&A bench with White & Case hire

Baker McKenzie has poached another lawyer from White & Case, its fourth hire from the US firm in the space of under a year, as it seeks to pursue its transactional growth strategy. Peter Lu joins Bakers as a partner and head of the firm’s China group in London. He was previously a counsel in White […]

Weil Gotshal & Manges

Weil Gotshal replenishes PE ranks after McGonigle exit

Following the exit of several notable players in its City office, Weil Gotshal & Manges has begun to rebuild, with the hire of private equity partner Mark Thompson from Sidley Austin. Thompson is a US qualified lawyer, and joins Weil Gotshal off the back of six years at Sidley, where he was a partner in […]

McGuireWoods exits Brussels as entire team joins local firm

US firm McGuireWoods has closed its only base in continental Europe after almost 30 years, with its entire Brussels team joining Benelux firm AKD. The team joining AKD’s Brussels office consists of four partners, one counsel and four associates, as well as five other staff. The four partners are Hubert André-Dumont, Paul Van den Bulck, […]

Kathryn Cecil

Fried Frank invests in fund finance with Linklaters hire

Fried Frank Harris Shriver & Jacobson has hired its latest new joiner in London, bringing on board its first dedicated fund finance lawyer in the City from Linklaters. The US firm has hired managing associate Kathryn Cecil, who will join as a partner. Her arrival on Monday coincides with that of Milbank Tweed Hadley & […]

Latest Briefings

The basics: How to wind up a corporate debtor

A company has outstanding debts and it seems they are struggling financially. What can you do to try and get your debts settled? Is applying to have the company wound up the answer? Here, we take a look at what you will need to consider before a decision is made and we take a look […]

Blowing hot and cold on the jurisdiction of an adjudicator

In the recent case of SKYMIST HOLDINGS LIMITED v GRANDLANE DEVELOPMENTS LIMITED [2018], the Technology and Construction Court (TCC), considered the principle of “approbation and reprobation” in “satellite litigation” over the jurisdiction of adjudicators. But is challenging the jurisdiction of an adjudicator worth the cost involved? We review the key points in the Skymist decision, and the TCC‘s […]

Is legislation pending on bankruptcy, pension plans and lenders?

Public consultations on enhancing retirement security led by the Ministry of Innovation, Science and Economic Development Canada closed in late 2018. Given the importance and complexity of the subject matter, the one-month consultation period offered by the government was curiously short. Given that 2019 is an election year, the quick completion of the process could […]

Apples to Oranges: how investigations differ from a litigation approach when implementing eDiscovery solutions

Competition matters, and investigations more generally, differ greatly in execution from the approach to eDiscovery taken in litigation.  Understanding the potential issues is paramount in developing an eDiscovery model that tackles the regulatory pressures faced by legal teams and their corporate clients. In the first article in this series we compare the different approaches and examine […]

The employment law 2019 horizon: Top 12 hot topics

Despite Brexit’s near monopoly of Parliamentary and legislative draftsmen’s time, the Government did find time to publish its ‘Good Work Plan’ in December. The plans set out are more a tweak of employment laws over the next two years rather than a major reform. Nevertheless, it does offer some real improvements aimed at protecting more vulnerable workers. […]

Annual review of the 2018 patent cases

In January 2019, Gowling WLG’s co-head of global Intellectual Property (IP), Gordon Harris, delivered his much anticipated annual review of the year’s UK patent. Gordon gave his usual comprehensive review, backed by a thorough and extensive paper. Gordon commented that there was no lodestar this year, with the Supreme Court decision in Warner Lambert having fallen short of […]

Does my food advert market to kids? Draft guidance on Bill S-228

On January 25, 2019, Health Canada sent members of its stakeholder registry a draft “Guide to the Application of the Child Health Protection Act (Bill S-228)” (the “Guide”). Stakeholders have until February 15, 2019 to provide comments. The Guide is still in draft form, and operates on the presumption that Bill S-228 will become law, which is […]

Developments in China’s new draft foreign investment law

China released a new draft Foreign Investment Law (“Draft Law”) soliciting public comments. The Draft Law further liberalises the Chinese economy to foreign investments and primarily provides broad principles governing foreign investment activities in China. The successful implementation of the Draft Law would depend in part on subsequent supporting regulations, smoothly harmonising existing rules and […]

A note of caution before granting waivers, no interest letters and estoppels

A lender holding security interests in a borrower’s property may be asked by the borrower or a third party to provide a waiver, no interest letter, estoppel or similar confirmation (each referred to as a “waiver”) that the lender has no security with respect to certain specific property of the borrower. The lender may be […]

Supreme Court confirms impact of a debtor’s bankruptcy on CRA deemed trusts GST and HST

In Callidus Capital Corporation v. Her Majesty the Queen, the Supreme Court of Canada overturned a troubling 2017 decision of the Federal Court of Appeal. The Supreme Court held unanimously that the bankruptcy of a debtor extinguishes the deemed trust for unremitted GST and HST created in favour of the Crown (“CRA”) by section 222 of the Excise […]

Causation and loss of chance in professional negligence claims: Supreme court clarity

By Sandip Singh How to assess causation and loss in cases where claimants sue for loss of a chance following a professional’s negligence has long been a tricky area. An earlier decision on that issue in this long-running litigation had also resulted in potentially greater risk of exposure for professionals.  In the eagerly awaited judgment in Perry […]

Timor-Leste – key legislative developments

2019 state budget Law No. 2/2019, of 2 February enacted the 2019 State Budget. Revenue and expenditure are forecasted at approximately USD 1,256,000 and USD 1,482,000, respectively. First amendment to the Petroleum Act Law No. 1/2019, of 18 January enacted the first amendment to Law No. 13/2005, of 2 September (Petroleum Act). In essence, this […]

Register now to The Lawyer to access our latest news stories, read selected briefings from key firms and gain essential careers insight to help you make the most of your current and future roles.

Contact Us: if you have any questions regarding your subscription, call us on +44 (0)20 7292 3716 or email us at customerservices@thelawyer.com

Register now

Having problems?

Contact us on +44 (0)20 7292 3716 | email: customerservices@thelawyer.com

If you are looking for our Jobs site, please click here