2013 saw a sharp rise in high-value commercial litigation as major disputes arising from the recession filter down to the courts in greater numbers, according to research released today (7 April) by RPC.
Macfarlanes is the latest of a small number of City firms to announce growth in the number of lawyers made up to partner, with the firm confirming today (7 April) nine new partners, its highest number since 2005.
It has long been renowned as the top restructuring shop in the US but Weil, Gotshal & Manges was a late entrant to Europe’s work-out scene. As such the New York-bred law firm has taken a headline-grabbing step to take its City practice ‘to the next stage of growth’ with the hire of Goldman Sachs heavyweight Andrew Wilkinson, who is to join the firm at the end of April.
With the latest promotions round among the City elite so far showing a marked drop in the number of associates made up to partner, Linklaters has elected 21 new partners across its global network, with seven made up in London.
Freshfields Bruckhaus Deringer former corporate head Barry O’Brien last month (31 March) hung up his Magic Circle boots to move into a client development role at US investment bank Jefferies. Before joining, the former rugby playing high flyer spoke to Legal Business about diet coke partnerships, retirement, and moving away from the Magic Circle.
With the emerging markets continuing to dominate the expansion strategies of many City and international firms, the short term picture remains mixed as the value of M&A activity in the region bucked a global trend by dropping to $125.7bn during the first quarter of 2014, down by 4.7% from $131.9bn compared with the first quarter of 2013.
High emotion and anger over the Criminal Bar Association’s (CBA) decision to strike a deal with the Government on legal aid cuts has seen barristers given until next Wednesday 9 April to vote to accept the deal or take further industrial action, as further legal challenges were also brought this week to the controversial Quality Assurance Scheme for Advocates (QASA).
Ince & Co confirmed today (4 April) that ten shipping and insurance fee-earners along with six secretarial staff have been made redundant following the conclusion of a consultation launched in February.
Magic Circle firms Freshfields Bruckhaus Deringer and Linklaters have won lead roles advising on the sale of Alstom’s thermal power division to German private equity firm Triton in a deal worth around $1bn.
