These are tough times for another house that Stanley Berwin built, with exhibit B being the acrimonious end of merger talks between Berwin Leighton Paisner (BLP) and Greenberg Traurig. While the practice fit between the two looked both convincing and distinctive, these were two firms with plenty of strong characters.
Panama papers latest: Mossack Fonseca’s headquarters raided
Panamanian law firm Mossack Fonseca has had its headquarters raided by police following a data leak of more than 11 million documents which revealed how some wealthy people avoid tax using offshore law firms.
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Macfarlanes makes up six partners in male-only round
Macfarlanes has made up six new internal partner promotions across its tax, real estate, corporate and disputes practices, with senior partner Charles Martin (pictured) expressing concern that the group is ‘disappointingly lacking in women.’
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Airbnb appoints Ebay’s Chesnut as new GC as tech firms face growing legal challenges
Online accommodation finder Airbnb has appointed eBay’s vice president and deputy general counsel (GC) Rob Chesnut as its new GC following the promotion of Belinda Johnson to chief business affairs and legal officer.
Slater and Gordon LLP accounts show profits down and liabilities up in rocky period for listed firm
Slater and Gordon (S&G) which wrote down much of its UK business in February, has posted its LLP accounts for 2015, revealing while turnover was up and liabilities increased significantly at the PI firm.
Legal training provider launches competition claim against Law Society
The Law Society, already fighting to recapture full control of education standards for lawyers from the Solicitors Regulation Authority (SRA), is facing a claim at the Competition Appeals Tribunal (CAT) over ‘an abuse of its dominant position’ that is allegedly ‘restricting competition’ of financial crime training in the UK.
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Reed Smith enters merger discussions with Pepper Hamilton
As a sluggish US legal market drives consolidation, Reed Smith is lining up a merger with smaller American firm Pepper Hamilton.
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Ashurst corporate partner Clare quits for Stephenson Harwood
Stephenson Harwood has hired Ashurst corporate partner and board member Anthony Clare who is leaving the firm after 14 years.
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Comment: Gibson Dunn’s Geffen argues law firms can sell judgement or process but few can excel at both
A few years ago the general counsel of one of the big banks told me that they only went to outside law firms for three reasons. First to get advice on what to do. That could be on a deal, a dispute or some other objective of the bank. It requires senior time and is not particularly price sensitive. Let’s call that ‘advisory work’.
Linklaters makes key real estate finance hire with former Allen & Overy team leader
In a move to boost its real estate finance practice, Linklaters has hired former Allen & Overy (A&O) real estate finance head Mark O’Neill.
Freshfields European exits continue as four partner Paris team gears up to join Orrick
Partners from Freshfields Bruckhaus Deringer continue to exit the firm’s European offices as a four partner team is about to leave the Paris outpost to join Orrick, Herrington & Sutcliffe.
Snooper’s charter: Lawyers team up to launch new campaign as bill reaches committee stages
Lawyers have teamed up with journalists to condemn the so-called snooper’s charter as MPs began discussing the Investigatory Powers bill in parliament this week.
Partner promotions: Nabarro makes up four in the City as Olswang makes up one in reduced round
Olswang has made just two partner promotions firmwide including one in the City, while Nabarro has promoted five in a City-heavy round. Continue reading “Partner promotions: Nabarro makes up four in the City as Olswang makes up one in reduced round”
SRA to probe City firm connections to Panama Papers
The Solicitors Regulation Authority (SRA) has asked several law firms to clarify whether they are linked to the law firm at the heart of the Panama Papers leak, Mossack Fonseca.
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Gateley acquires tax adviser Capitus in first deal since AIM listing
AIM listed law firm Gateley has bought tax adviser Capitus in a deal worth £2.72m, the firm’s first acquisition since its listing in June 2015.
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Comment: KWM – ultimately it comes down to a question of confidence
These are tough times for the house that Stanley Berwin built, with exhibit A being recent news that King & Wood Mallesons (KWM) is undergoing a sweeping partnership restructuring set to trim its European business by nearly two dozen partners, or 15% of its ranks.
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Winston & Strawn makes double partner hire from Simmons in aviation finance boost
US firm Winston & Strawn has swooped on City rival Simmons & Simmons to take aviation finance duo Mark Moody and Christopher Boresjo.
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Steel deal: Forsters and Slaughters lead as Tata sells first chunk of UK business
Forsters lined up against Magic Circle firm Slaughter and May on Tata Steel’s deal to sell its European long products business to UK investment house Greybull Capital.
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Guest post: On David Cameron and inheritance tax
To avoid tax you have to do a thing which cuts your tax bill. Fail to do that thing and your tax bill is higher. But do it and you’ve avoided tax compared with an alternative world – economists call it a counterfactual but you and I would call it an overdraft – in which your tax bill is higher.
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Skadden names NY-partner as enforcement head in London in global investigations push
Skadden, Arps, Slate, Meagher & Flom has boosted its City-based investigations practice having relocated white collar partner Keith Krakaur (pictured) from New York to London to head the firm’s European government enforcement and white collar crime practice.