Herbert Smith Freehills (HSF) has posted a 17.5% dip in pay to its management committee as the firm’s turnover dipped for the 2014-15 financial year.
Continue reading “HSF management committee pay down 17.5% as revenues drop”
Dismissed: Mishcon de Reya defeats former QPR owner’s £5m professional negligence suit
The high-profile professional negligence dispute taken against Mishcon de Reya by former Queens Park Rangers chairman Antonio Caliendo has been dismissed by London’s High Court.
News in brief – February 2016
CASES AGAINST LAW FIRMS DOWN
Figures collated by RPC suggest the post-financial crisis wave of professional negligence claims against law firms has passed. High Court cases against firms were down 47% last year. While the number of cases spiked by 192% to 418 for the year 2013-14, the number of actions against solicitors for the 12 months to 30 June 2015 is lower at 221.
Flight to quality as big-spending JPMorgan signs entire Magic Circle to EMEA panel
Several London-headquartered law firms, including the entire Magic Circle, have won places on JPMorgan Chase’s panel for Europe, the Middle East and Africa (EMEA) following a review.
BLP on the hunt for a US tie-up as talks with Miami giant Greenberg Traurig confirmed
Berwin Leighton Paisner (BLP) is hunting for an ambitious union with a major US practice, with the City real estate leader currently in discussions with Greenberg Traurig. According to three separate sources, the talks between BLP and Greenberg have been taking place over the past three months as the London firm looks to secure a US merger.
BP turns to Herbert Smith as claims over Algeria terrorist attack mount
BP has instructed Herbert Smith Freehills (HSF) to defend it against claims the oil major’s security precautions at an Algerian gas plant were flawed at the time of a terrorist attack in 2013 that killed 40 people.
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Safe Harbour 2.0: City lawyers warn last minute data transfer deal ripe for legal challenge
City lawyers are warning an agreement made between the EU and the US yesterday (3 February) replacing the Safe Harbour scheme is likely to be challenged in court.
Simpson Thacher, Davis Polk and Bär & Karrer win mandates on $43bn ChemChina-Syngenta deal
Simpson Thacher & Bartlett, Davis Polk & Wardwell, and Swiss firm Bär & Karrer have landed key advisory roles on China National Chemical Corp’s (ChemChina’s) $43bn bid for Swiss seeds and pesticides group Syngenta, in what will be the largest ever acquisition by a Chinese firm.
‘The next phase’: McDermott Will & Emery names successor to London head Nineham
Private client partner Andrew Vergunst (pictured) is to become the head of McDermott Will & Emery‘s London office, replacing corporate lawyer Hugh Nineham when he retires at the end of March.
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Future UK chief Millar lays out expansion plans as CMS becomes first international firm in Iran
CMS Cameron McKenna‘s incoming managing partner Stephen Millar (pictured) has outlined his key priorities as the firm’s next UK chief, a plan which will focus both domestic and international strategic expansion. Millar’s plans for global development come as CMS Hasche Sigle has launched a new office in Iran, the making it the first international firm to do so.
‘Totally inappropriate’: Lawyers condemn Lord Jackson’s call to fix costs for civil claims
Calls by Lord Justice Jackson to introduce fixed costs for civil claims worth up to £250,000 have been majorly condemned by the legal profession.
Remuneration overhaul: DLA Piper votes to increases bonus pool and launches mini-lockstep
DLA Piper International partners have approved an overhaul of its pay structure, introducing a points-based remuneration system and a larger bonus pot as it targets greater profitability, while bringing in a separate lockstep for new partners while they grow their practices.
McDermott and DLA Piper partners join Orrick for Houston launch
Having announced it will open a new office in Houston, 13 partners have joined US firm Orrick, Herrington & Sutcliffe, including McDermott Will & Emery‘s global head of energy Blake Winburne, and DLA Piper‘s co-chair of global and US patent litigation Claudia Frost.
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White & Case to hire Linklaters big-biller Kelly to lead Asia push
White & Case is set to hire Linklaters‘ big-billing Hong Kong partner Christopher Kelly as its Asia head of corporate as develops its practice in the region.
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Cutting out the middle man: Capital Law opens £50m litigation fund
Welsh firm Capital Law has launched a £50m commercial litigation funding service, marking the first time a UK law firm has established its own disputes funding pot.
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Revolving doors: Nabarro, Pinsents and Hogan Lovells make key hires
Several firms have made noteworthy strategic appointments in the past week, with Nabarro, Pinsent Masons and Hogan Lovells all adding to their benches.
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CMS Cameron McKenna elects Millar as new managing partner
The partnership at CMS Cameron McKenna has elected energy partner Stephen Millar (pictured) to succeed longstanding chief Duncan Weston.
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DLA Piper expands Nordic footprint with Finnish tie-up
DLA Piper has agreed a combination with 30-lawyer Finnish law firm Peltonen LMR as it expands its Nordic footprint.
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Quinn Emanuel hires Clydes litigator Friedman as it expands City-based Israel offering
Clyde & Co litigator Paul Friedman (pictured) has left the firm after more than 12 years to join US firm Quinn Emanuel Urquhart & Sullivan as its expands its Israel practice.
Seventh term for Drummond at the helm of Brodies as Scots indy continues its emphatic form
Brodies has re-elected both its chair Christine O’Neill (pictured) and managing partner Bill Drummond to another term in each role.