As a crunch parliamentary vote on Theresa May’s Brexit deal looks to be postponed, the European Court of Justice (ECJ) has ruled the UK is free to unilaterally revoke its decision to a divorce from the EU.
The landmark ruling means that UK parliament can instruct the government to bring an end to the Brexit process, if it so wishes. Continue reading “European Court of Justice makes landmark Brexit ruling as Fieldfisher prevails in $1.9bn Ukrainian banking dispute”
South west-based Ashfords and Thames Valley firm Boyes Turner are primed to merge, creating a 100 partner-strong £60m southern law firm.
The merger will go live on 1 May 2019, subject to due diligence and legal agreements, while initial talks taking place in early 2017. The new firm will have a total of 700 employees and seven offices, with scale, future investment opportunities and client wins the cited motivations for the move. Continue reading “‘Scale and investment capability’: Ashfords and Boyes Turner merger to create £60m southern force”
Newly-installed Serious Fraud Office (SFO) director Lisa Osofsky has suffered her first major setback, as the agency’s prosecution of two former Tesco executives was quashed this morning.
At Southwark Crown Court, Judge Sir John Royce instructed the jury to acquit John Scouler, formerly Tesco’s UK food commercial director, and Chris Bush, previously Tesco’s UK managing director. Both men had been prosecuted by the SFO on fraud and false accounting charges over a £250m profit overstatement by Tesco in 2014. Continue reading “First big defeat for Osofsky as SFO fails in Tesco prosecution”
Dechert is continuing a recent spate of investment in its London office with the promotion to partner of three in the City amid a scaled up 16-strong global round.
The Philadelphia-headquartered firm has continued its commercial litigation push by making up Matthew Banham and Timothy Bowden from its white-collar crime bench in London, while tax lawyer Daniel Hawthorne has also been promoted. Continue reading “‘Commitment to London’: Dechert makes up three in the City amid 16-strong partner promotions round”
London law firm Hodge Jones & Allen (HJA) has brought in sweeping changes to its ownership model, making it the first firm to be wholly owned by its employees.
The reform, which has been implemented through an employee ownership trust (EOT), is intended to secure the firm’s long-term future and address succession issues posed by the impending retirement of senior partner Patrick Allen. Continue reading “City criminal law firm HJA ushers in sweeping ownership changes amid succession problem”
There were signs of a pre-Christmas pick up in the City lateral market last week with Greenberg Traurig the leader following a double hire from US counterparts Ropes & Gray.
Gowling WLG, meanwhile, made a significant London hire to its planning and environment practice as Bates Wells Braithwaite (BWB) brought in a team from Pennington Manches. Continue reading “Revolving Doors: Greenberg capitalises on Ropes & Gray’s real estate cutback as Gowling and BWB make City moves”
Well-known media lawyer Mark Lewis, who received a Solicitors Disciplinary Tribunal (SDT) fine for responding angrily to online anti-Semitic abuse, has had the bulk of his fine paid by crowdfunding supporters.
Lewis, recognised for his work advising phone-hacking victims against the News of the World, was fined £2,500 and ordered to pay £10,000 in costs after he ‘wished death’ to social media abusers. Continue reading “Media lawyer Mark Lewis fined £2,500 in controversial SRA antisemitism row”
As the market hunkers down for the festive season, GlaxoSmithKline’s (GSK) £3.1bn sale to Unilever of Horlicks has warmed the cockles of City teams from Baker McKenzie and Slaughter and May, while Pinsent Masons and Addleshaw Goddard have won key mandates on what is likely the year’s last big London listing.
The GSK deal sees it sell its malted drink brand Horlicks and other consumer healthcare nutrition brands to Unilever and includes the merger of listed GSK Consumer Healthcare India with Hindustan Unilever. GSK will also sell its 82% stake in GlaxoSmithKline Bangladesh in the deal, which is slated to complete by the end of next year. Continue reading “Deal watch: Bakers and Slaughters drink in £3.1bn Horlicks acquisition as AJ Bell IPO yields dividends for Pinsents and Addleshaws”
In a move unlikely to inspire mirth from Middle Temple, the Bar Council is seeking to establish new top-tier pay grades for the practising certificate fee (PCF).
As set out in a recent consultation, the Bar Council wants to introduce two new payment bands: Band 7 and Band 8, for high-earning barristers. Continue reading “Bar Council seeks further PC fee hike as new figures uncover the millionaire barristers”
Cementing its reputation as one of the UK’s highest-performing firms, Fieldfisher has recorded an above-trend 26% uptick in revenue in its half-year results for 2018/19.
The £97m turnover outstripped the £76.7m for the comparable period, the first half of last year. The revenue figure covers Fieldfisher’s UK, France, Belgium, Germany, Luxembourg and Silicon Valley offices. The firm’s Swiss Verein offices in Netherlands, Italy, Spain and China are not included. Continue reading “‘Continues to fly’: Fieldfisher true to form with 26% revenue hike as Chissick gets re-elected”
Simmons & Simmons has landed a major Serious Fraud Office (SFO) investigation mandate at the expense of Freshfields Bruckhaus Deringer.
Simmons’ crime, fraud and investigations head Stephen Gentle and partner Nick Benwell have been enlisted to defend oil and gas company Petrofac in the SFO probe, taking on the mandate from Freshfields. Continue reading “Disputes round-up: Simmons wins Petrofac mandate as White & Case makes key regulatory hire”
Highly rated Royal Mail general counsel Maaike de Bie has resigned to become legal chief at FTSE 100 airline easyJet next year.
De Bie (pictured), who is expected to join up with easyJet in 2019, brings to an end a five-year tenure at Royal Mail. She joined in January 2014 as deputy GC and subsequently oversaw a legal panel review in November of the same year. Prior to Royal Mail, White & Case-trained de Bie had spells in-house at both GE and Big Four firm EY. Continue reading “Royal Mail GC de Bie posts resignation to take on new role at easyJet”
Weil, Gotshal & Manges is continuing to scale back its once-potent central and eastern Europe (CEE) operations with its entire Czech Republic-based team set to spin off at the end of the year.
The New York firm confirmed today (27 November) that veteran Prague managing partner Karel Muzikář will quit after more than 25 years to set up an independent shop from 31 December alongside fellow partners Karel Drevinek, Petr Severa and Karolina Horakova. Continue reading “Another CEE closure for Weil Gotshal as Prague team launches independent firm”
Regional player Shakespeare Martineau and national firm Shoosmiths have both implemented change at the top with the appointments of new chief executives.
Shakespeares made a rare leadership hire from another firm, bringing on Browne Jacobson chief operating officer Sarah Walker-Smith (pictured) as chief executive. Walker-Smith replaces long-serving chief executive Andy Raynor, who announced his intention to step down earlier this year, at the Midlands firm. Continue reading “Changing of the guard at Shakespeares and Shoosmiths with CEO appointments”
Reed Smith has dismissed a partner in its London office after a complaint of sexual harassment, it has emerged. Originally reported on RollonFriday, the unnamed partner was accused of sexually harassing a junior female trainee, though the nature of the incident has not been clarified.
The episode has just emerged but the partner was dismissed in late 2017. In a statement, Reed Smith commented: ‘As soon as we became aware of this incident, which took place over a year ago, we took swift and appropriate action. The safety and well-being of all of our colleagues matter greatly to us, and we are committed to providing a positive and professional workplace for all our people.’ Continue reading “Latest #MeToo episode emerges as Reed Smith dismisses partner following complaint”
Rankings, by definition, are never going to please everyone (nor should they). But, as the new UK editor of The Legal 500, there’s one issue in particular that I see as an area to progress: diversity.
Women make up more than half of those entering the profession, in general far less than 30% of firms’ partnerships and – for some core areas – they struggle to get recognition in the industry from peers and, yes, the legal publishing sector in general. Continue reading “The Legal 500 view: We’ll be championing women but we need your help”
Mayer Brown and Weil, Gotshal & Manges have minted four and three partners respectively in the City amid increased global promotion rounds for the US outfits.
Mayer Brown promoted 34 globally and Weil chalked up 11, with the US getting the lion’s share of promotions at both firms. Continue reading “Mayer Brown makes up four in London as Weil renews City commitment after last year’s promotion drought”
Clifford Chance has elected Amsterdam head Jeroen Ouwehand as its first ever senior partner based outside the City.
The news comes after Ouwehand, who also leads the firm’s continental European litigation and dispute resolution practice, was hotly tipped internally as being the successor to Malcolm Sweeting. Continue reading “‘An international guy’: Ouwehand wins Clifford Chance race to become first non-London senior partner”
After leading Worldpay into a transatlantic £22.2bn merger with Vantiv last year, general counsel (GC) Ruwan (Roo) de Soyza will be leaving the global payment processing company in 2019.
De Soyza (pictured) is expected to leave midway through next year to take up a GC and executive committee role at a FTSE 100 technology company. Continue reading “In-house: Worldpay GC de Soyza to move on next year”
Globetrotting firm Dentons’ chair Joe Andrew and chief executive Elliott Portnoy have been elected for their third and fourth terms respectively at the helm of the firm after an uncontested election.
Announced today (19 November) the duo ran unopposed and secured the needed backing of more than half of the partnership. Continue reading “More of Joe ‘n’ Elliott show for Dentons after unopposed leadership contest”
