The headline numbers from this year’s Global 100 report do not make upbeat reading, even before the Brexit effect and resulting vote began to chill the market in Europe.
Continue reading “Comment: Global 100 – It’s hard going all over”
Slaughters, Freshfields and MoFo chip in on £24.3bn ARM takeover
Slaughter and May, Freshfields Bruckhaus Deringer, Davis Polk & Wardwell and Morrison & Foerster have scored roles on Japanese telecoms group SoftBank’s £24.3bn deal to acquire UK tech flagbearer ARM Holdings. It is the largest public M&A deal in the UK in 2016 so far.
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Blame on Brexit: Nabarro acts as Lowcosttravelgroup goes bust
Nabarro is advising on the administration of Lowcosttravelgroup as the travel agency business left thousands of holiday makers at risk of losing their summer getaways.
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Making the point: Lord Faulks quits in protest over Truss appointment as Lord Chancellor
Conservative peer Lord Faulks QC has quit as Minister of State for Justice after Liz Truss became the third consecutive non-lawyer to be made Lord Chancellor. Continue reading “Making the point: Lord Faulks quits in protest over Truss appointment as Lord Chancellor”
Financials 2015/16: Disputes specialist Stewarts a standout performer with double digit revenue and PEP growth
Litigation powerhouse Stewarts Law has posted a second consecutive year of double digit revenue growth for the 2015/16 financial year, with revenue increasing 18.5% to £62.1m while profit per equity partner rose by 25% to £1.6m.
Revolving doors: US appointments from Ashurst and Bakers while DWF and Brodies bulk up in the UK
Brexit hasn’t put a brake on the lateral market in a busy week for hires which has seen both Ashurst and Baker & McKenzie make key appointments in the US, while DWF and Brodies have focused on the UK.
Lloyds former head of legal Pithouse takes on deputy GC role at Visa
The former head of legal at Lloyds Banking Group, Prini Pithouse, has taken the deputy general counsel (GC) role at Visa Europe, following a year serving as the payments business’ executive director of commercial law. Continue reading “Lloyds former head of legal Pithouse takes on deputy GC role at Visa”
Guest post: The new justice secretary – does it matter that she’s not a lawyer?
So, as anticipated, our new prime minister has favoured punishing disloyalty over rewarding competence and sent Michael Gove and his ambitious, compassionate prison reforms to the naughty back benches. Yesterday morning (July 14) brought a transfer-deadline-day-style frenzy to Legal Twitter, anticipation and trepidation converging as rumours and supposition threw up name after name as possible new secretary of state for justice and Lord Chancellor.
Continue reading “Guest post: The new justice secretary – does it matter that she’s not a lawyer?”
Here we go again: Law Society to splash £61m on new IT systems after joint project fails
The Law Society, which has overseen several IT failures in the last decade, has agreed to spend £61m on new technology systems.
‘An important step’: K&L Gates launches in Munich through King & Wood hires
K&L Gates has opened its third German office by launching in Munich, with a three-lawyer hire from King & Wood Mallesons (KWM).
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‘Please explain’: Linklaters writes to Olswang to question BHS fees
Arcadia Group adviser Linklaters has questioned Olswang on whether its client Retail Acquisitions Limited (RAL) broke its contract and breached covenants to pay the firm’s fees for the sale of BHS.
Continue reading “‘Please explain’: Linklaters writes to Olswang to question BHS fees”
Differing fortunes: Ince revenue takes another tumble down 4% to £76.2m, as Mills & Reeve sees 7% bump
Shipping and insurance specialist Ince & Co has had another disappointing year financially, with revenue down 4% from £79.4m to £76.2m. This follows on from an 8% drop in turnover last year from £86.7m, which was the worst income drop of all the UK’s top 100 law firms in 2014/15.
Simmons takes leading arbitration lawyer Dutson from Eversheds
Simmons & Simmons has hired Eversheds‘ star arbitration partner Stuart Dutson in a bid to strengthen its Africa practice.
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‘Robust position’: Shepherd and Wedderburn enjoys third year of growth with revenue up 10%
Scottish independent Shepherd and Wedderburn has enjoyed a third year of consecutive growth with revenues up 10% to £53m. Similarly profits have increased by 20% to £21.5m.
Bowing to pressure: DAC Beachcroft amends contract terms with preferred barristers
After pressure from lobby groups at the commercial Bar, DAC Beachcroft has amended its contractual arrangements with its preferred sets of chambers to reinstate a key contract clause that gives barristers insurance cover.
‘How did Grieve not get the job?’ – City lawyers react as Truss becomes new justice secretary
City lawyers have expressed disappointment as Liz Truss has been made the new justice secretary, replacing Michael Gove. Gove, a prominent Brexit campaigner and candidate for Conservative leader following the resignation of UK prime minister David Cameron, had spent just 14 months in the role.
Ringing the changes: Barclays appoints Mark Shelton as GC of corporate & international as divisions split
Barclays has appointed ex-Gibson Dunn & Crutcher partner Mark Shelton as general counsel (GC) of Barclays’ corporate & international business following a ring-fencing restructure which saw the bank split its legal team to create two new divisions – the other being Barclays UK. Continue reading “Ringing the changes: Barclays appoints Mark Shelton as GC of corporate & international as divisions split”
Financials 2015/16: Travers bucks the market to post double digit turnover growth
Travers Smith has posted its seventh year of revenue growth, boosting turnover to £120m, up 13% on the previous year.
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Comment: After the Brexit vote you can kiss the UK’s stability premium goodbye
The dust has yet to settle, indeed the horizon in post-referendum Britain is heavy with smoke and particles of an uncertain nature. But as the market turmoil of the vote to exit the EU subsides, the profession is left asking: what now?
Continue reading “Comment: After the Brexit vote you can kiss the UK’s stability premium goodbye”
De Souza resurfaces as GC for Goldman Sachs-backed property firm
Former Land Securities Group general counsel and company secretary Adrian de Souza has joined student accommodation firm Vero Group as interim general counsel and company secretary.
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