In a move which could curb law firms’ ability to share profits based on actual performance, yesterday’s (23 November) Autumn Statement by Chancellor Philip Hammond revealed plans to shake up profit sharing arrangements in partnerships. Continue reading “Law firm model at risk as Hammond reveals plans to tackle ‘partnership taxation’ in autumn statement”
Simmons defends Barclays on former executive’s employment dispute
Simmons & Simmons has been gifted with a high-profile instruction defending Barclays as it faces an unfair dismissal dispute taken by a former top executive, who alleges he was sacked after investigators at the UK’s Serious Fraud Office (SFO) passed the bank a transcript of his interview with them.
Continue reading “Simmons defends Barclays on former executive’s employment dispute”
Dechert’s new PE duo lead for Mid Europa on €533m Romanian supermarket deal
Dechert has picked up work from key White & Case client Mid Europa Partners, as new partners Ross Allardice and John Markland took roles on the private equity house’s €533m acquisition of supermarket Profi Rom Food. Continue reading “Dechert’s new PE duo lead for Mid Europa on €533m Romanian supermarket deal”
Irwin Mitchell LLP’s show profits fell 59% as a result of ‘fast-tracked’ Thomas Eggar integration
Irwin Mitchell‘s first LLP accounts since the acquisition of Thomas Eggar in December last year show the firm’s profit on ordinary activities has dropped by 59% to £8.4m from £20.6m.
US partner promotions: Weil and Simpson Thacher promote two each in London
Weil, Gotshal & Manges and Simpson Thacher & Bartlett have both promoted two new London partners in their latest partnership rounds. Weil made up 13 across the firm while there were promotions 11 at Simpson Thatcher. Continue reading “US partner promotions: Weil and Simpson Thacher promote two each in London”
‘Feel good factor’: Norton Rose and Stephenson Harwood advise on £350m Civitas IPO
After a slow spell for the initial public offering (IPO) market, Norton Rose Fulbright and Stephenson Harwood have picked up mandates on Civitas Social Housing’s float on the London Stock Exchange (LSE). Continue reading “‘Feel good factor’: Norton Rose and Stephenson Harwood advise on £350m Civitas IPO”
Freshfields and Hengeler act as Blackstone inks largest European real estate deal this year
Freshfields Bruckhaus Deringer and Hengeler Mueller have won spots advising as Blackstone Group purchased a portfolio of offices from IVG for €3.3bn, the largest European real estate transaction this year. Continue reading “Freshfields and Hengeler act as Blackstone inks largest European real estate deal this year”
Nabarro boosts Middle East fee income as office prepares for Camerons merger
Nabarro has increased its Middle East fee income to around AED 7m (£1.65m) for 2015/16 in the firm’s loss-making Dubai office. Continue reading “Nabarro boosts Middle East fee income as office prepares for Camerons merger”
Ashurst shakes up payment model following halted quarterly payments
Ashurst is to get rid of its quarterly profit distributions in favour of a single yearly profit payment, in a move subject to a partnership vote. Continue reading “Ashurst shakes up payment model following halted quarterly payments”
King & Wood’s European recap programme fails as firm considers options
King & Wood Mallesons‘ European arm has failed to complete its planned recapitalisation programme, which was paused last month after a number of partner departures. Continue reading “King & Wood’s European recap programme fails as firm considers options”
Nuclear windfall: Slaughters gifted with £12m fees for Hinkley Point C
Slaughter and May earned £12m in fees for its government work on the controversial £18bn Hinkley Point C project, it has emerged.
Continue reading “Nuclear windfall: Slaughters gifted with £12m fees for Hinkley Point C”
Freshfields PE heavyweight Higgins to stand down as head of GFI group
Freshfields Bruckhaus Deringer private equity head Adrian Maguire is to become head of the firm’s global financial investors (GFI) sector group taking over the role from heavyweight David Higgins. Continue reading “Freshfields PE heavyweight Higgins to stand down as head of GFI group”
Goodwin Procter to take Halford and other KWM partners as recap fails
After resigning last month, King & Wood Mallesons’ (KWM) influential head of investment funds and major biller Michael Halford will be joining Goodwin Procter and has taken several other partners with him.
Continue reading “Goodwin Procter to take Halford and other KWM partners as recap fails”
Revolving doors: Another two out at Olswang as Clydes and WFW add to their benches
Arnold & Porter and Withers take the latest Olswang leavers, while Watson Farley & Williams (WFW), Clyde & Co and Shakespeare Martineau have all added laterals this week.
Government proposes 15% pay raise for judges to battle recruitment crisis
With members of the judiciary the target of spiteful press coverage just weeks ago following the Brexit High Court ruling, the latest move by government to gift judges a pay rise of 12 to 15% will likely stir tensions further. Continue reading “Government proposes 15% pay raise for judges to battle recruitment crisis”
‘A key integration initiative’: Dentons to cut 25 UK roles as Warsaw service centre finalised
Dentons will cut around 25 UK roles as part of the launch of a new shared services centre in Warsaw.
Goodbye Fleet Street: Freshfields picks 100 Bishopsgate for new headquarters
After doubling space at its Manchester low cost-hub last year, Freshfields Bruckhaus Deringer is to sign a new lease in the City at 100 Bishopsgate. Continue reading “Goodbye Fleet Street: Freshfields picks 100 Bishopsgate for new headquarters”
US partner promotions: Mayer Brown promotes two in the City while McDermott adds one
Mayer Brown has made up another two partners in the City, the same number as last year, while McDermott Will & Emery has promoted one in London. Continue reading “US partner promotions: Mayer Brown promotes two in the City while McDermott adds one”
CC criticised for conflict issues in Excalibur case as COA finds claimants liable for costs
The high-profile Excalibur dispute continues to haunt Clifford Chance (CC) as London’s Court of Appeal has handed down a critical ruling, saying the Magic Circle firm had an ‘an acute conflict of interest’ on the case.
Travers Smith acts on latest Bridgepoint deal as Oasis sold to Bupa for £835m
Travers Smith, White & Case and DLA Piper have landed roles advising Bridgepoint on its sale of Oasis Dental Care to Bupa, valuing the business at £835m.
Continue reading “Travers Smith acts on latest Bridgepoint deal as Oasis sold to Bupa for £835m”