In a fillip for the Serious Fraud Office (SFO), the first person to go on trial after a global investigation into interest rate manipulation scandal, Tom Hayes, has been found guilty at Southwark Crown Court and convicted on eight counts of conspiracy to defraud.
Revolving doors: Mishcon loses City funds chief to OMM as firms bulk up in Asia
O’Melveny & Myers (OMM) made a strategic move last week as it continues to ramp up its City office with the hire of Mishcon de Reya’s co-head of funds and financial services while Eversheds also looked to bolster its London presence. In Asia, Morrison & Foerster made a high-profile hire when it recruited Winston & Strawn’s Asia head of litigation.
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Trading partners: Kirkland recruits Freshfields’ Blackstone and Goldman relationship partner Steele
Freshfields Bruckhaus Deringer and Kirkland & Ellis continue to swap talent in the City, this time with Kirkland hiring the Magic Circle’s finance partner Michael Steele.
Bristol fashion – regional leader Burges Salmon drives revenues up 6% as PEP closes in on £500,000
Top-50 UK law firm Burges Salmon has posted another year of solid growth as results released for the 2014/15 year show revenue up by 6% to £80.8m from £76.5m while profit per equity partner jumped 11% to £485,000.
PEP up to £265k as BLM’s mergers lift firm past £100m turnover mark
Helped by its Scottish and Northern Ireland mergers, BLM has surpassed the £100m turnover mark and posted £104m in revenues for the 2014/15 financial year.
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Judicial watchdog investigates Justice Peter Smith after BA ‘lost luggage’ case
Mr Justice Peter Smith is set to face an investigation by the Judicial Conduct Investigations Office (JCIO) after his recent recusal from the high-profile litigation involving British Airways (BA).
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Guest post: Tales of an Unhappy Client – The Search for a Smarter Way to Bill
I knew better and that only makes this worse. Recently, I needed a lawyer to review an agreement. There was some vague language that made me anxious. So I called an old friend who recommended one of the partners at his big firm. The partner gave me good advice, spotted an issue I hadn’t considered, re-drafted a couple clauses, and left me feeling reassured. The problem went away.
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SRA promises new in-house rules by April 2016 as LSB gathers thoughts on reform
The Solicitors Regulation Authority (SRA) has laid out its timetable to overhaul rules for in-house lawyers in a response to the Legal Services Board’s (LSB) consultation on whether current rules are too restrictive.
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‘We are determined to re-build’: Ashurst brings in ex-Goldman banker to revive US structured finance team
Following the recent blow of a nine-lawyer team walkout from Ashurst’s US offices, the Anglo-Australian firm has hired former managing director at UBS Securities Eric Bothwell to boost the firm’s New York-based collateralised loan obligation (CLO) practice.
BLP, A&O and Ashurst get the gig on Lone Star’s £700m takeover of Wembley Arena owner
Berwin Leighton Paisner (BLP) and Allen & Overy (A&O) have taken the lead roles on US private equity firm Lone Star’s £700m acquisition of Wembley Arena-owner Quintain Estates and Development.
Lord Chief Justice calls on Justice Briggs to undertake ‘urgent’ civil courts review
In the latest development of the government’s ongoing push to reform the courts system, the Lord Chief Justice and the Master of the Rolls, as head of civil justice, this week asked Lord Justice Briggs to carry out an ‘urgent’ review of the structure of the civil justice courts, from the Court of Appeal to County Courts.
Clifford Chance looks to strengthen local ties as it opens Academy in Singapore
As the firm looks to grow its revenues in Asia-Pacific, Clifford Chance (CC) has expanded its Academy training programme with the launch of a new base in Singapore to service the region.
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City moves: Simmons builds construction team with Trowers’ disputes partner
Partner exits continue to mount in Trowers & Hamlins’ construction practice as City-based construction disputes partner Rob Horne moves on to join Simmons & Simmons.
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Addleshaw Goddard wins claim for £12.6m in ‘hard earned’ fees from Berezovsky estate
In a judgment published today (28 July) at the Senior Courts Costs Office, Addleshaw Goddard has won its case against the administrators of Boris Berezovsky estate over £12.6m in ‘hard earned’ fees.
Pinsents and CMS miss out as DLA Piper, DWF and Weightmans make it onto Scots government legal panel
Both Pinsent Masons and CMS Cameron McKenna have missed out on spots as nine firms were awarded places on the Scottish government’s legal services framework which is open to public sector bodies across Scotland.
In-house: Royal Mail’s GC Harnby to leave role by end of the year
Royal Mail’s general counsel (GC) Neil Harnby is due to leave his role by the end of this year, nearly two years after the postal services’ high profile and controversial initial public offering (IPO).
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Raft of firms bag spots as Deutsche Bank finalises legal panel arrangements
A host of law firms have been awarded positions as Deutsche Bank’s go-to advisers with the lender having finalised its global legal panel after kicking the process off at the end of last year.
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Teva’s $40bn generic-drug buy sees Latham & Watkins and Sullivan & Cromwell lead
Cross-border teams from Sullivan & Cromwell and Latham & Watkins have landed the lead roles on the $40bn takeover of Allergan’s generic-making business by Teva that has seen the Israeli pharmaceutical powerhouse also abandon its bid for Mylan.
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Revolving doors: Pinsents and Irwin Mitchell both hire from CRS as Gateley brings in two new partners
With the summer break fast approaching, there was a flurry in the lateral market among law firms last week as they looked to sign off key appointments. Pinsent Masons and Irwin Mitchell both turned to Charles Russell Speechlys (CRS) partners for strategic appointments while Gateley made two laterals.
Brodies’ rise continues with fifth year of revenue growth and profits up 14%
Scottish firm Brodies has once again turned in a strong financial performance, reporting a double-digit growth in both revenue and profits per equity partner (PEP) in its audited accounts for the 2014/15 financial year.
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