Scottish firm Burness Paull is awarding a 10% bonus to all its eligible employees across the firm’s three offices in Aberdeen, Edinburgh and Glasgow following a strong set of annual results which saw a 20% rise in turnover and a 25% increase in profit.
Clydes hires Kennedys aviation heavyweight as it builds practice
Clyde & Co has hired Kennedys’ aviation liability and insurance star David Johnston with further lateral hires expected.
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Dewey liquidators confirm payout while Cobbetts’ payments are postponed
As the fallout from the demise of Dewey & LeBoeuf continues, liquidators of the UK arm are assessing paying an interim dividend to unsecured creditors of the City office having finished disbursements to secured and preferential creditors. Continue reading “Dewey liquidators confirm payout while Cobbetts’ payments are postponed”
Freshfields NY corporate partner joins King & Spalding as former Amsterdam chief joins boutique
With Magic Circle firms still vowing to break ground in the US legal market, Manhattan-based corporate partner Matthew Jacobson has left Freshfields Bruckhaus Deringer and joined top-40 US firm King & Spalding while in the Netherlands, well-respected Robert ten Have has joined Rutgers & Posch.
Paul Hastings and Weil Gotshal & Manges lead on German bank acquisition
US firms Paul Hastings and Weil, Gotshal & Manges have won lead roles on the OCEAN Holding acquisition of German mortgage bank Düsseldorfer Hypothekenbank, from the US investor Lone Star, in what is the largest German bank takeover since the economic downturn.
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Magic Circle duo advise on LSE’s £938m rights issue as part of £1.6bn Frank Russell acquisition
Magic Circle firms Freshfields Bruckhaus Deringer and Linklaters, alongside some of the leading US firms, have advised on the London Stock Exchange Group (LSEG) rights issue for £938m to help fund a £1.6bn acquisition.
Wachtell, Skadden and Goodwin Procter take lead roles on Bank of America’s $16.6bn settlement
Wachtell, Lipton Rosen & Katz; Skadden Arps Slate Meagher & Flom and Goodwin Procter have taken the lead roles on Bank of America’s $16.6bn settlement with the US Department of Justice (DoJ), federal agencies and six US states.
Another partner exit at Weil’s London office
Weil Gotshal & Manges’ head of European high yield Gil Strauss has become the most recent prominent partner to leave the firm, after several high profile London office exits within the last year, with his decision to re-join Simpson Thacher & Bartlett.
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Quindell hires new legal chief as legal services division posts huge growth
Alternative business structure (ABS) Quindell has posted a huge revenue increase in the first half of 2014 with its Legal Services Division bringing in £179.6m, 139% up on H1 2013.
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Accounts for Dechert’s UK LLP show revenues and profit falling
Profits at Dechert’s UK LLP dropped 21% from £35m to £27.7m for the 12 months to 31 December 2013, according to filings recently made to Companies House, with total revenue falling to £67.7m from £70.0m.
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Edwards Wildman posts 10% turnover slide in UK with latest LLP accounts
Having endured a difficult time in recent months with the exodus of multiple partners from its London office, US firm Edwards Wildman has also seen financial challenges in the UK as evidenced by its latest LLP accounts which recorded a 10% drop in turnover to £25.1m from £27.8m, alongside a 21% drop in profit available for discretionary division among members to £7.6m.
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Clydes continues to grow ME practice while Jones Day hires in Singapore
Following a string of international lateral hires over recent months, Clyde & Co continues to bolster its team in the Middle East with Herbert Smith Freehills (HSF) Islamic finance specialist Adil Hussain joining the firm.
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Ex-Clydes partner settles whistleblowing case
After a long-running dispute between Clyde & Co and former partner Krista Bates van Winkelhof, the firm has finally settled the whistleblowing case outside of court.
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Mishcon de Reya set to move to full-equity LLP structure in 2015
Mishcon de Reya is set to bring all partners into the equity and convert to a limited liability partnership at the end of autumn in 2015, following a vote made by the firm around eight months ago.
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Post-merger fallout: Squire Patton Boggs loses 23-strong team in the Middle East
The legacy Squire Sanders practice in the Middle East, a team of 23 lawyers that included five partners, has exited Squire Patton Boggs following the firm’s merger, leaving it with Patton Boggs’ legacy affiliate The Khalid Al-Thebity Law Firm.
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Slaughters and HSF lead as BHP Billiton undergoes major demerger
Slaughter and May corporate partners Richard de Carle and Susannah Macknay are spearheading a demerger at mining giant BHP Billiton, which is spinning off its less profitable aluminium, silver, South African coal, manganese and nickel businesses into a new company estimated to be worth around $14bn.
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Reed Smith and BLP lead on £430m business park buy up
Reed Smith and Berwin Leighton Paisner have led on a £430m purchase of three UK business parks by asset management groups Oaktree Capital Management and Patrizia.
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‘We’re actively looking at our growth’: PwC hires King & Wood managing partner duo to spearhead Asia legal arm
PwC Australia has hired former King & Wood Mallesons managing partners, Tony O’Malley and Tim Blue, to spearhead the expansion of the accounting giant’s corporate legal services business across the Asia Pacific.
Things to come – accountancy body handed power to grant ABS licences
There has been more attention of late on the corporate ambitions of major audit groups but news this week is a reminder that accountants are also targeting the high street legal services market.
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Asia: Fears over Hong Kong’s judicial autonomy see vote of no confidence passed in local law society head
Hong Kong lawyers turned out in force last night (14 August) to cast a vote of no confidence in local law society president Ambrose Lam, following his recent support of a Beijing white paper perceived to raise issues over Hong Kong’s judicial independence. Continue reading “Asia: Fears over Hong Kong’s judicial autonomy see vote of no confidence passed in local law society head”