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The Lawyer's daily analysis of the legal market, bringing you emerging trends informed by our latest data. Read recent posts here

Sunak’s loan scheme offers a lifeline to law firms

It’s safe to say that any firms that have tried to access the government’s coronavirus business interruption loan scheme (CBILS) would agree it’s a work in progress. The government has put in place a £330bn package, meaning businesses generating less than £45m in revenue can access a loan of up to £5m that is 80% […]

Magdalen College’s BAME challenge

When Dinah Rose QC takes up her role as principal of Magdalen College, Oxford in September she will have more on her mind than the deer park. Tucked away on her list might be some scrutiny of why Magdalen, the alma mater of Lords Denning and Sumption, is one of the lowest-performing colleges at the […]

The options for retiring Slaughters partners

Life After Slaughters – wait, there is one? For those partners in Slaughter and May considering what light exists outside of Bunhill Row, then fear not. Those 30 years of hard graft can open doors in all sorts of areas, as history has shown. Ex-Slaughters partners have ended up at the regulators, with Charles Randall […]

The old normal: European lawyers are still coming to London

Back in February 2017, our sister title Lawyer 2B conducted a survey. Six months after the Brexit vote, we asked foreign lawyers if they were thinking of returning to their country of origin. Around 10.8 per cent of the over 400 foreign-born lawyers polled said yes, and the figure rose to 16.5 per cent among […]

US and UK flags: Laterals help US firms in London grow

There are now just two US super-heavyweights in London

One of the most eye-catching deals of recent weeks was the sale of the Ritz, which completed late last Friday despite the best efforts of the virus and featured Weil Gotshal advising the iconic hotel. It provided a reminder that while Covid-19 has understandably shunted 99 per cent of all other news off the agenda, […]

News

Reed Smith strikes NewLaw deal with Elevate

Reed Smith has struck a deal with Elevate for its Leeds service centre, in a move that will enable the US firm to start offering a flexible resourcing service. As part of the multi-year agreement, the value of which was not disclosed by the parties, Elevate will support the firm’s lawyers in the EMEA regions […]

real estate

Eversheds’ RE group: “Property is no longer just about location, but connectivity”

Around a fifth (17 per cent) of Eversheds Sutherland’s total revenue is generated from the real estate sector, according to The Lawyer’s Global Real Estate 50 report, and its focus on the market stretches back decades, particular in the UK. Consequently, there are few firms better placed to comment on the state of the real estate market […]

financial

Brown Rudnick furloughs City fee-earners and temporarily docks pay

A group of fee-earners at Brown Rudnick’s London office have been asked to join the UK Government’s furlough scheme, as the firm implements a series of protective measures globally. The Lawyer understands that approximately 17 members of staff across practices areas such as white-collar, litigation and corporate have been furloughed, with employees ranging from paralegals […]

HSF to split out bonus payments for 2019/20 financial year

Herbert Smith Freehills is the latest City firm to reduce partner profit distributions, while maintaining it will still award bonuses in two separate payments over the next year. The firm confirmed today that all employees will remain on their current respective salaries, with this pay freeze set to be reviewed in six months. While some […]

Government

UK Government delays panel reviews to focus on Covid-19 pandemic

The UK Government’s Crown Commercial Service (CCS) has put most of its current panel reviews on hold while it reprioritises work in light of coronavirus. The CCS has paused procurement activity for its general legal advice services, finance and complex legal services, rail and edisclosure panels, as firms wait in the lurch about when the […]

Pinsent Masons furloughs staff amid coronavirus shutdown

Pinsent Masons is placing some of its non-fee-earners on furlough in response to the coronavirus pandemic, while it also considers a change to its quarterly cycle of partner payouts. These are just two of the latest measures put in place by the firm. Senior figures are now undertaking a programme of scenario planning to consider what […]

business woman using mobile payments online shopping and icon customer network connection on virtual screen, m-banking and omni channel

3PB debuts virtual courtroom to assess family finance disputes

Family chambers 3PB has launched a remote courtroom to assist on the financial aspects of claims brought in the family court. Members at the set have decided to launch the Remote Access Financial Dispute Resolution (FDR) Court Room for instructing law firms and clients, who are now having to engage remotely. The set, which had […]

Eversheds debuts social media app to fight loneliness

Eversheds Sutherland has created an app that allows staff to interact on themes that go beyond their routine jobs, as it seeks to counteract the sense of loneliness sparked by the sustained remote working period caused by the Covid-19 crisis. The app, called Open House, was sponsored by the firm’s managing partner Keith Froud, and […]

law school fees

Freshfields halts partner distributions for Q4

Freshfields Bruckhaus Deringer will not be dishing out partner profits for Q4, while the magic circle firm has also called off its partner conference, which had been scheduled for this summer. It comes as firms across the board decide whether to hold back or reduce partner distributions, or ask partners to put in slightly more […]

Debenhams

Freshfields and Kirkland in action as Debenhams lines up administrators

Department store Debenhams has revealed its intention to appoint administrators, with Freshfields Bruckhaus Deringer and Kirkland & Ellis among the firms acting on the lengthy restructuring process. The department store filed a notice of intent to appoint administrators early this morning, with FRP Advisory working on matters related to an administration. Freshfields has been acting […]

Deals

carluccio's

Ashurst and Freshfields swoop in on collapse of Carluccio’s and Brighthouse

Ashurst and Freshfields Bruckhaus Deringer were on call as two high street businesses plunged into administration in one day. Ashurst is acting on the administration of Carluccio’s, which has become the first major casual dining casualty since the coronavirus lockdown. Led by restructuring partner Drew Sainsbury and corporate partner Bruce Hanton, the firm is advising […]

the ritz

Macfarlanes and Weil Gotshal lead on Ritz Hotel sale

Macfarlanes and Weil Gotshal & Manges were the two firms leading on the sale of the iconic Ritz Hotel completed late on Friday evening. The acquisition means an unnamed Qatari investor now owns the Ritz hotel on the same night that the property closed its doors for the first time in more than 100 years […]

BCLP and HSF secure timely logistics deal for Blackstone

Bryan Cave Leighton Paisner (BCLP) and Herbert Smith Freehills (HSF) have acted on Blackstone’s £120m acquisition of a logistics portfolio from Clearbell Capital. BCLP acted for Clearbell from its London and Southampton offices, led by funds and investment management head Justin Cornelius and partner Kieran Saunders. Partners Claire Milton and Verity Waington advised on real […]

BT parts ways with legal tech business after eight years

Telecoms giant BT has sold its legal technology business Tikit, with legal advisers including Kirkland & Ellis and Addleshaw Goddard. The sale came after BT scanned the market for potential buyers as part of a divestment process that began in the summer of 2019. Financial terms were not disclosed. Tikit provides technology solutions to legal […]

ted baker

City trio act on £80m sale of Ted Baker’s HQ

Addleshaw Goddard, Greenberg Traurig and Forsters have seen through the £80m sale of Ted Baker’s London HQ to the British Airways’ Pension Fund (BAPF). Addleshaws corporate M&A partners Simon Wood and Andrew Rosling acted for Ted Baker, alongside co-head of the firm’s real estate sector William Boss. The stricken retailer bought the 8,920 sq ft […]

pharma

Paul Hastings and Freshfields lead as Fosun strikes $135m deal for COVID-19 vaccine

Paul Hastings, Freshfields Bruckhaus Deringer, Stephenson Harwood and Covington & Burling formed the legal lineup behind Fosun Pharma’s $135m (£113.7) deal with Germany’s BioNtech, in the hunt for a COVID-19 vaccine. Shanghai Fosun Pharmaceutical (Group) is advised by Paul Hastings. The US firm’s team is led by Shanghai-based corporate partner Jia Yan, who is also […]

chambers

Covid-19 case study: how Trinity Chambers tackled the digital challenge

The old saying goes that necessity is the mother of invention, and this has been starkly demonstrated within the legal industry over the past few weeks. ‘Necessity’ here is represented by the Covid-19 pandemic, and ‘invention’ by the rapid pace with which professionals have had to rethink the way that they operate while coping with […]

Reed Smith partner re-joins the Bar at Atkin Chambers

Atkin Chambers has brought in a partner from Reed Smith, as Shourav Lahiri becomes the second barrister to leave private practice for the Bar in as many weeks. Last week, The Lawyer reported that Stuart Isaacs QC has joined Wilberforce from King & Spalding and Atkin has followed suit in hiring the energy lawyer from Reed Smith. […]

Global News

Guangzhou

The Virus Diaries: Lessons to learn from Gowling’s China lockdown

Every festivity has its own set of traditions, and Chinese New Year is no exception. In towns and cities, during the celebrations, red envelopes containing money are usually exchanged among families and friends as a good luck wish. This year, however, the tradition was partly broken. Instead of cash, envelopes were filled with face masks. […]

paris

BCLP grabs two more partners from Paris boutique

The ever-expanding Paris office of Bryan Cave Leighton Paisner (BCLP) has hired yet more lawyers from a boutique French firm, this time adding in employment and antitrust. The lawyers all join from Franklin; they are antitrust partner Julie Catala Marty, employment partner Claire Fougea and employment of counsel Marion Brière Ségala, who joins BCLP as […]

ladder promotion

London lawyer gets the nod in Skadden promotions round

Skadden Arps Slate Meagher & Flom has promoted one London partner in its round of 13, bolstering its white-collar crime practice in the City. Andrew Good has been made up in the Canary Wharf office, effectively immediately, following on what may be the start of a trend for the US firm after it made one London […]

Singapore

Gowling WLG’s Singapore ally chief decamps with entire IP team to CMS

The founder and managing partner of Gowling WLG’s Singapore association firm JurisAsia, Sheena Jacob, has left for CMS with her entire IP team. The move comes three years after the Singaporean IP boutique entered into an exclusive association with Gowling WLG. JurisAsia was launched by former Tan Rajah & Cheah IP partner Sheena Jacob, who is […]

Hundreds of Irish barristers lend support to virus contact tracing scheme

Almost 400 barristers registered to the Irish Bar have volunteered to carry out coronavirus contact tracing in order to help relieve pressure on health staff. A total of 385 barristers, which is about one-sixth of all practising barristers in Ireland, have signed up to volunteer for the Health Service Executive. Under the scheme, which is […]

Shearman opts against salary hikes in Italy

Shearman & Sterling’s Italian arm has told its staff that it will not be handing out any pay rises this year. Following a management decision, which is understood to have been made slightly before the coronavirus outbreak, staff in the Milan and Rome offices of the US firm will not be granted raises for the […]

Global Features

barrister bar bptc

King & Spalding loses QC to Wilberforce

Wilberforce Chambers has secured the services of a high-profile silk from private practice, with Stuart Isaacs QC joining the set from King & Spalding. After a five-year stint as a partner in the global disputes team at King & Spalding, the commercial specialist will now resume his practice at the Bar. Isaacs is the second […]

Forsters real estate

Forsters lures 10-lawyer real estate team from Orrick

A ten-lawyer real estate team, led by partner Anne O’Neill, is to leave Orrick Herrington & Sutcliffe’s London office for West End firm Forsters. O’Neill joined Orrick in 2005 from the now-dissolved Coudert Brothers, and was one of eight of its London partners to move in one go. She led Orrick’s UK real estate practice […]

Exit sign

DLA bulks up in restructuring with Paul Hastings hire

DLA Piper has hired one of Paul Hastings’ restructuring partners to bolster its offering in the City. David Manson will jump ship to DLA after just over two years at Paul Hastings, which he joined in 2017 from White & Case. He was a senior associate at White & Case from 2006 to 2012 and […]

Offices

Addleshaws recruits second finance partner from McDermott

A partner from McDermott Will & Emery’s finance practice has left the firm after 18 months for Addleshaw Goddard. Rachel Kelly, who specialises in structured finance and debt capital markets, moves to Addleshaws with fellow lawyer Kerry Pettigrew, who joins Addleshaws as a legal director. Kelly was one of the first partners to depart the […]

Covington replenishes competition ranks with BCLP hire

Covington & Burling has made its first London lateral hire in two years, bringing in a new partner from Bryan Cave Leighton Paisner to boost its competition capabilities in the City. James Marshall joins the Washington DC-based firm after more than 10 years at BCLP, having spent nine of those years at Berwin Leighton Paisner […]

Reed Smith finance partner to exit for US rival

McDermott Will & Emery has hired a finance partner from Reed Smith, the latest in a string of senior laterals to join over the past few months. The US firm has taken on longtime Reed Smith London partner Ranajoy Basu. The finance lawyer has spent over seven years in the City outfit of the US […]

Latest Briefings

Croatia: Temporary measures to mitigate the consequences of the COVID-19 pandemic and Zagreb earthquake in civil, insolvency and criminal procedure law

On 14 March 2020, the Croatian Ministry of Justice issued recommendations to prevent the transmission of the novel coronavirus (COVID-19) and control the pandemic (“Measures“). The Measures are applicable until 1 April 2020. The Measures advise temporary adjustments to legal requirements in civil, insolvency and criminal procedure law to avoid hardship that would otherwise arise as a result of […]

Amendment On The Directive Regarding Authorised Institutions For Ships

Provisional Article 3 of The Directive Regarding Authorised Institutions for Ships which was published in Official Gazette with 29952 numbered and January 18th,2017 dated, has been amended through a new amending directive published in Official Gazette with 31078 numbered and March 24th,2020 dated, as follows;

COVID-19: impact on commercial contracts

In light of the escalating status of the COVID-19 as a pandemic and the UK moving into the delay phase of disease control, a number of businesses are looking for more guidance around what they should be doing to manage their contracts. As a follow on from our previous update, more and more businesses are […]

Coronavirus: Buying and selling property in times of social distancing

We are facing a Coronavirus (Covid-19) pandemic and, as a result, administrative solutions have been adopted and a state of emergency has been declared. All this has had an impact on the whole of the economy and it has also had serious adverse effects on property (real estate) transactions, which are subject to specific formalities […]

The territorial limitations of the black swan jurisdiction

On 30 March 2020, the Court of Appeal of the Eastern Caribbean Supreme Court (the Court of Appeal) delivered a decision of some practical importance to the practice relating to applications for injunctive relief. It confirms: That the so called “Black Swan” line of authority cannot be developed and extended by the courts to permit free standing […]

Coroners’ Courts open for urgent and essential business only

The Chief Coroner’s Guidance on COVID-19 (No.34) was issued on 26 March 2020 and reinforced on 27 March 2020 with further guidance (No.35). It is helpful to be read in conjunction with the Chief Coroner’s COVID-19 Note #3. It is intended to be the main piece of guidance for all coroners. The message overall is that coroners have discretion […]

Revised IR35 rules delayed until April 2021

Stephen Barclay, Chief Secretary to the Treasury, announced that the commencement of the revised IR35 rules will be delayed until April 2021. The move has been widely welcomed and allows businesses to focus on dealing with the Covid-19 crisis.

Hungary: Information on conditions of employment with regards to coronavirus

The appearance and spread of the coronavirus in Hungary made extraordinary measures necessary. Therefore, the Government of Hungary decided to declare a “state of emergency” on 11 March 2020 and introduced numerous preventive measures, with practically immediate effect. Primarily, the handling of the pandemic and the disease prevention is the task of state institutions. In […]

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