SRA reviews Dentons’ handling of work discrimination case
The Solicitors Regulation Authority (SRA) is investigating whether a formal inquiry should be launched into Dentons’ handling of a discrimination case.
Guy Norman wins second term as Clifford Chance corporate head
Clifford Chance global head of corporate Guy Norman has been reappointed to a second term in the role, effective from 1 May.
HSF teams up with SullCrom for Weir’s largest-ever acquisition
Herbert Smith Freehills (HSF) and Sullivan & Cromwell have teamed up to advise FTSE 250 engineering company Weir on its billion-dollar acquisition of US provider Esco.
Clydes promotes 12 as partner numbers pass 400 for first time
Clyde & Co has made up 12 associates to equity partner, swelling the firm’s partnership numbers to over 400 for the first time in its history.
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The most common name for a law firm partner is…
Exclusive research conducted by The Lawyer has revealed the most common names for male and female partners in the UK’s largest firms.
A&O guns for tech revenue stream with derivatives platform launch
Allen & Overy (A&O) has developed a new online platform in the wake of impending derivatives regulations.
Cadent Gas launches first panel since National Grid split
Cadent Gas has launched its first panel tender since the £13.8bn deal which saw it split from National Grid in December 2016.
Slaughters gets the call on Ultra Electronics corruption probe
Slaughter and May is acting as principal adviser for defence and technology group Ultra Electronics as it faces a criminal investigation by the Serious Fraud Office (SFO).
Stephenson Harwood makes up eight partners in London and Hong Kong
Stephenson Harwood has made up five lawyers to partner in its 2018 promotions round, while an additional three have been named as local partners.
Clifford Chance favours Europe with largest promotions round in six years
Clifford Chance has made up 26 new partners globally in the firm’s largest promotions round for six years, falling just short of 2012’s 27-strong group.
Freshfields leads for Advent in €2bn Sanofi deal
Freshfields Bruckhaus Deringer is advising Advent International on its potential €2bn deal with French pharmaceuticals company Sanofi.
Mishcon cleared in £6m tax battle with former client
Mishcon de Reya has been cleared of any wrongdoing in the Royal Courts of Justice over a dispute with former client Instant Access Properties (IAP) leading to the company’s insolvency.
Global growth obsession: Six firms that are setting the trend
In 2016 Global 200 billings totalled $128.4bn – a 3 per cent increase on 2015’s $124.4bn. A large part of that growth is thanks to six ambitious firms.
Herbert Smith Freehills tops mammoth settlements in 2017
If settlements are conducted behind closed doors then they seldom achieve the attention and excitement of the cases that make it to trial, for the fact there is no binary winner or loser. That may have to change, because so far, three of The Lawyer’s Top 20 cases for this year have settled.
The sad story of Cobbetts
As it emerges that eight former Cobbetts lawyers have been referred to the Solicitors Disciplinary Tribunal, we recall the story of an ambitious firm caught out by the recession.
Clifford Chance lances the boil with lockstep review
Clifford Chance partners have voted to extend the firm’s lockstep ladder once again this week. But who is going to benefit from this change?
LIA SocGen settlement: This saga is nowhere near over
As far as litigation is concerned, settlements are supposed to be the gentle way out. But in the case between the Libyan Investment Authority and Societe Generale, it has come to signify the end of one headache and the beginning of another.
How partner exits sparked Ashurst’s strategy u-turn
Last year Ashurst’s mounting partner exits signalled serious trouble within its ranks. But as firms prepare to release their year-end financials, the consensus is that the storm at Ashurst has calmed. Will it last?
Ince stalls merger talks despite promises made to partners
Ince & Co has stalled merger talks for a tie-up promised to partners earlier this year, despite indications that the firm was nearing a deal with Holland & Knight.
Allen & Overy enters merger talks with US firm O’Melveny
Allen & Overy (A&O) has entered merger talks with US firm O’Melveny & Myers which could create a £2bn global law firm, The Lawyer understands.
BLP and Bryan Cave: Merged firm leaders confirmed
Bryan Cave Leighton Paisner (BCLP) has today gone live following the vote between partners which saw the transatlantic merger go through last month.
Hunton & Williams and Andrews Kurth to merge
Addleshaw Goddard’s putative merger partner Hunton & Williams has turned its focus back to its domestic market and announced that it will be merging with Andrews Kurth Kenyon following partnership approval.
Bakers’ profits to highest-paid partner double to £2.6m
Baker McKenzie’s highest-paid UK partner received nearly £2.6m in 2016/17, more than double the amount handed out in the previous financial year, the firm’s LLP accounts have revealed. The accounts cover the UK side of the business, with the partner clinching the bumper packet believed to be a member of the corporate team. In the firm’s […]
Garrigues cements European lead topping €350m revenue for the first time
Iberian giant Garrigues has seen its revenue rise above the €350m mark for the first time, cementing its position as the highest earning firm in Europe.
Kirkland breaks $300m barrier in record City financials
Kirkland & Ellis’ London office revenue grew by almost 50 per cent in 2017 to a new record of $300m, The Lawyer understands. The rise makes it the second-largest US law firm in London on current data behind White & Case. The rise in 2017 follows a much smaller increase the year before, when Kirkland’s […]
Burford income grows by 109% to $341m
Litigation funder Burford Capital saw triple-figure increases in both income and post-tax profits, generating a record $341m (£244.5m) income last year.
King & Spalding City turnover nudges up as firm launches new strategy
King & Spalding has boosted its global revenue by nearly 8 per cent, while small gains in London failed to bring the firm back to 2014 levels in the City.
US financials: Covington’s top-line growth beats its closest rivals
Covington & Burling is the latest US firm to post a double-digit rise in London turnover, while the firm’s revenue globally grew nearly 13 per cent.
HSF makes four-partner asset finance hire from WFW
Herbert Smith Freehills (HSF) has made a four-partner hire from Watson Farley & Williams (WFW), taking two partners apiece in London and Singapore.
Stephenson Harwood boosts real estate team with Goodwin hire
Stephenson Harwood has recruited a new real estate partner in London from US firm Goodwin Procter, The Lawyer can reveal.
Dechert life sciences practice hit by further exits as Frankfurt team joins McDermott
McDermott Will & Emery has hired a life sciences team in Frankfurt from Dechert, which just yesterday saw a team decamp from its London office for Goodwin Procter. The team is being led by partner Rüdiger Herrmann, who joined Dechert in 2014 from WilmerHale. He was also a partner at Mayer Brown between 2001 and […]
Vinson & Elkins’ Tokyo head exits for new management role at Orrick
Orrick has hired Vinson & Elkins Tokyo managing partner James Atkin as co-head of the firm’s oil and gas practice globally.
Exclusive: Dechert to lose three partners as Goodwin boosts life sciences team
Goodwin is launching its European life sciences practice in London office with the hire of a team of four, from Dechert, The Lawyer can reveal. London-based corporate partners Graeme Defries and Andrew Harrow are best known for deals in the technology and life sciences sectors. Defries advises clients from a range of industry sectors on […]
Addleshaws takes Pillsbury hire to lead Qatar office
Addleshaw Goddard has made its second senior international hire in a week as the firm has named Pillsbury Winthrop Shaw PIttman Middle East and Dubai head Ahmad Anani to head up its operation in Qatar.
Cayman Islands beneficial ownership regime update
By Richard Fear, partner and Maree Martin, head professional support lawyer Since our Cayman Islands Beneficial Ownership Regime Alert in May 2017, the Cayman Islands Government has amended the beneficial ownership regime, and has issued further regulations. The Amending Laws modify who must comply with the beneficial ownership regime and impose new filing obligations on […]
Changes in Russian currency legislation
On 14 April 2018, the changes to the Federal Law ‘On Currency Regulation and Currency Control’ (the ‘Currency Regulation Law’) and the Code of the Russian Federation ‘On Administrative Offenses’ introduced by Federal Law No. 64-FZ dated 3 April 2018 became effective, which provide for the obligation of Russian residents to repatriate to their accounts […]
Can Kazakhstan tap Islamic Finance to become a regional Islamic Finance hub?
By Shaimerden Chikanayev As Central Asia’s largest and richest country, with a Muslim-majority population of around 18 million people, Kazakhstan wants its local Islamic banking industry, as an alternative source of capital for SMEs, to reach 3-5% of its total banking assets by 2020 from 0.08% in 2015…
Football Association of Ireland settles Athlone match-fixing case
The Football Association of Ireland (FAI) has settled High Court proceedings brought by two former Athlone Town football players suspended by the FAI for match- xing. The proceedings concerned an appeal by the players Igors Labuts and Dragos Sfrijan against a 12 month suspension imposed by the FAI Independent Disciplinary Committee (Disciplinary Committee). The suspension […]
Soft drinks industry levy is in force
As reported last year, Government has introduced legislation enabling the introduction of the Soft Drinks Industry Levy (SDIL) in an attempt to reduce the consumption of sugary drinks. This so-called sugar tax came into force earlier this month. A drink is liable for SDIL if it meets all of the following conditions…
Rules of origin and the possible effect of Brexit on the food and drink sector
The European Commission has issued a Brexit notice to food business operators regarding the legal repercussions of the UK leaving the European Union. The Commission warns that EU food law may cease to apply to the UK from 30 March 2019 onwards. The consequences of this may include that, among other things, labelling on food […]
New EU legislation designed to reduce acrylamide in food
Whilst it is not possible to eliminate acrylamide completely from foods, it is possible to take steps to try and ensure that acrylamide levels are as low as reasonably possible. This is the reasoning behind the new Commission Regulation (EU) 2017/2158 which came into force this month. As from 11 April 2018, all food business […]
ISDA Master Agreements and the calculation of close-out payments
A recent case in the commercial court has highlighted that the change in wording between the 1992 and 2002 ISDA Master Agreements in relation to the calculation of the amount payable on early termination is a significant one. Under the 2002 agreement, the calculation of the close-out amount has to be objectively reasonable and not […]
Court’s approach to the sale of the family home on divorce
By Sarah Green The power of the court (or otherwise) to order that a property be sold on divorce during the course of proceedings has often been the subject of debate. The default approach has tended to be to wait until a final hearing, where it is clear that the court has power to make […]
Slovenia: Food supply chain – changes to the menu
Following an examination by the Competition Protection Agency regarding unfair trading practices in the food supply chain (for further information please see “Unfair trading practices in food supply chain examined”), the government drafted a proposal to amend and supplement the Agriculture Act. The proposal contained some major changes to the food supply sector. Parliament accepted […]
There’s no place like home until the neighbour interferes
My home is my castle. Unfortunately, the Austrian Supreme Court (“OGH”) doesn’t think so. The Austrian Civil Code (ABGB) entitles property owners to prohibit all emissions that exceed the local norm and have a substantial effect on the customary use of their property. Here are some rulings that the OGH has made since 2011…
New deal for consumers in the EU: A proposal to strengthen collective redress
The European Commission has just published its comprehensive proposal for the so-called “New Deal for Consumers”, which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice. Collective redress […]