The high profile Tchenguiz brothers’ lawsuit against the Serious Fraud Office (SFO) for around £300m has finally settled after the SFO agreed to pay Vincent Tchenguiz £3m.
Simmons & Simmons expands in Saudi Arabia
Top 20 UK firm Simmons & Simmons is set to expand in Saudi Arabia through the opening of a new office in the country’s capital, Riyadh, by alliance firm Hammad & Al-Mehdar.
Shearman & Sterling secures historic $50bn arbitration award in epic Yukos dispute
Russia has been ordered to pay $50.08bn to the majority shareholders in Yukos Oil Company, once Russia’s largest oil producer, by an arbitral tribunal sitting in The Hague under the auspices of the Permanent Court of Arbitration (PCA).
Guest post: ‘Stockholm syndrome’ in legal services – GCs are captured by their advisers
A caricature may reveal a truth…
‘Why, if there is all the talk of change, is change so slow?’
One might be forgiven for thinking that there is rather too much talk of change in the legal profession and perhaps rather less evidence of it happening. It is not easy to see the wood from the trees sometimes, but I would like to offer a perspective on why this may seem to be the case from both a law firm and a client point of view.
Edwards Wildman sees final corporate partner exit for Olswang as Arnold & Porter emerges as ‘in talks’ with disputes team
US firm Edwards Wildman has seen the last of its quintet of disgruntled corporate partners resign as it has emerged that Niall McAlister has departed for Olswang.
Slaughters and Links lead on £3bn Carillion/Balfour talks; HSF and A&O advise on BSkyB’s £7.4bn European acquisitions
Construction group Carillion has instructed Slaughter and May’s corporate heavy hitter William Underhill and fellow corporate partner Kathy Hughes to advise on a proposed £3bn merger with UK rival Balfour Beatty, which has turned to Linklaters’ M&A veteran and longstanding adviser Iain Fenn.
Mayer Brown cuts trainee intake by half and retains 67% while Weil retains 100% of trainees
Mayer Brown will be cutting its September 2016 trainee intake by half, taking in just ten applicants compared to their usual intake of 20.
BP announces specialist panel with Fieldfisher returning to the fold
BP has selected nine firms to provide niche legal services as part of its wider panel. Firms appointed are Baker & McKenzie, Fieldfisher, Hill Dickinson, Holman Fenwick Willan, Reed Smith, Stevens & Bolton, Sullivan & Cromwell, Watson Farley & Williams and arbitration boutique Three Crowns.
Clifford Chance ushers in more streamlined constitution with end to regional and practice head votes
As part of the first major changes to its corporate governance structure in 14 years Clifford Chance yesterday (24 July) voted to dispense with regional and practice head elections in favour of appointment by managing partner Matthew Layton.
Guest post: Where now for legal regulation? – A consensus to change the UK regulatory framework has emerged, but none over direction
A direct consequence of the government’s decision in May not to make any major changes to the regulatory framework for legal services is that it simultaneously fired the starting gun for the race to introduce major changes to the regulatory framework for legal services.