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Clifford Chance leads on VW’s $9.2bn offer for remaining shares in Scania

Magic Circle giant Clifford Chance (CC) has scored a key advisory role on Volkswagen’s (VW’s) $9.2bn offer for a remaining stake in Swedish truck company Scania.

CC, a longstanding adviser to the German automobile manufacturer, is leading on the German and US legal aspects of the offer, led by Frankfurt-based M&A partner Wolfgang Richter and banking partner George Hacket. Leading Nordic firm Roschier is also advising VW on Swedish law matters. Continue reading “Clifford Chance leads on VW’s $9.2bn offer for remaining shares in Scania”

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Revolving Doors: Lateral hires for Squire Sanders, Olswang, Irwin Mitchell, DAC Beachcroft and Osborne Clarke

In the latest series of lateral appointments across the UK’s leading firms, Squire Sanders has hired former Berwin Leighton Paisner (BLP) director of China business as a partner in its global corporate practice, as Olswang welcomes former Gateley contentious insolvency partner Louise Bell, Irwin Mitchell hires restructuring and insolvency specialist Edward Judge, and DAC Beachcroft brings in Eversheds’ former head of procurement in Newcastle, Ruth Connorton.
Continue reading “Revolving Doors: Lateral hires for Squire Sanders, Olswang, Irwin Mitchell, DAC Beachcroft and Osborne Clarke”

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Guest post: Notes from the frontline of Grayling Day – ‘The whole system is in revolt’

At Friday’s ‘Grayling Day’ demonstration in London, chairman of the Criminal Bar Association Nigel Lithman QC told the audience that ‘an indispensable part of our democracy is the criminal justice system. It’s taken centuries to build; it is taking this government a blink of an eye to demolish.’

Continue reading “Guest post: Notes from the frontline of Grayling Day – ‘The whole system is in revolt’”

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Nabarro bolsters City disputes capability with DLA IT litigation head hire

Top 30 LB100 firm Nabarro has bolstered its City disputes capability with the addition of DLA Piper’s IT litigation head Lee Gluyas.

Gluyas specialises in both commercial litigation and arbitration in complex IT disputes. Having acted for and against technology companies, the 424-lawyer firm said his appointment is part of a strategic move to build on its existing presence in the sector. Continue reading “Nabarro bolsters City disputes capability with DLA IT litigation head hire”

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Race to provide direct legal services sees Allianz convert to an ABS

Last year they hit your television with an advert comparing the stresses of the daily commute and school run to a formula one race but this week multi-billion UK personal and business insurer Allianz entered the race to provide direct legal services to their customers by converting to an alterative business structure, after being granted a licence by the Solicitors Regulation Authority. Continue reading “Race to provide direct legal services sees Allianz convert to an ABS”

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Trucking ahead – King & Spalding, Hill Dickinson and Minter Ellison advise on £280m Eddie Stobart majority stake sale

Rare in the transport world for having its own television show, King & Spalding, Hill Dickinson and Minter Ellison have secured roles on the £280m sale of a majority stake in iconic UK haulage company Eddie Stobart, announced this week. Continue reading “Trucking ahead – King & Spalding, Hill Dickinson and Minter Ellison advise on £280m Eddie Stobart majority stake sale”

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Last chance saloon – criminal Bar stage major protest against final legal aid reform package

Resentment against the Government’s final package of legal aid cuts has reached new heights as hundreds of criminal barristers and lawyers today (7 March) staged a major protest outside Westminster, their second protest this year, with a further call made for Law Society president Nicholas Fluck and chief executive Desmond Hudson to resign. Continue reading “Last chance saloon – criminal Bar stage major protest against final legal aid reform package”

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Jones Day hires CC Frankfurt head of automotives and McKenna Long Brussels regulatory partner

Fresh from its run of lateral hires from Berwin Leighton Paisner (BLP) in London, Jones Day has made two prominent European partner hires, as Clifford Chance’s (CC) Frankfurt-based automotive head Johannes Perlitt joins the firm’s corporate practice while the head of EU product regulatory practice at McKenna Long & Aldridge in Brussels, Ursula Schliessner has also joined the firm as a partner. Continue reading “Jones Day hires CC Frankfurt head of automotives and McKenna Long Brussels regulatory partner”

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Asia: Herbert Smith rethinks Singapore; EY targets major Asia expansion; CC leads $1.93bn South Korea deal for Carlyle

The most notable headlines to emerge from Asia this week include Herbert Smith Freehills (HSF) deciding not to renew its coveted qualifying foreign law practice (QFLP) licence in Singapore, while EY has announced plans to expand throughout the region.

Meanwhile, Clifford Chance‘s private equity practice has demonstrated its ties to key client Carlyle, despite high-profile exits in London, with a sizeable deal in South Korea.

Continue reading “Asia: Herbert Smith rethinks Singapore; EY targets major Asia expansion; CC leads $1.93bn South Korea deal for Carlyle”

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‘We’re flat out – our strategy won’t change’ – Tinkler on CC’s private equity playbook

In mid-February, Latham & Watkins confirmed its third London private equity partner hire from Clifford Chance (CC), with Kem Ihenacho set to follow on the heels of global head of private equity David Walker and newly-made up partner Tom Evans.

Ihenacho was co-head of the Magic Circle giant’s Africa practice, but here London head of corporate, Simon Tinkler, talks to Legal Business about CC’s position in the private equity market.

Continue reading “‘We’re flat out – our strategy won’t change’ – Tinkler on CC’s private equity playbook”

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Global turnover nudges up at Reed Smith while London posts equally steady growth

Top-30 global firm Reed Smith has seen its 2013 revenue grow by 6% to $1.075bn from $1.013bn, while its profit per equity partner figure rise by 5.5% to $1.14m from $1.08m in the previous financial year. In London, Reed Smith’s largest office, revenue reached $190m, an increase of around 5%.

Revenue per lawyer at the firm is unchanged at $690,000.

Continue reading “Global turnover nudges up at Reed Smith while London posts equally steady growth”

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Orrick duo join DLA Piper to bolster financial regulatory team

DLA Piper has bolstered its London financial regulatory capability with the appointment of Orrick, Herrington & Sutcliffe duo Tony Katz and Sam Millar.

Prior to joining the litigation team at Orrick in October 2011, both Katz and Millar, who join DLA today (5 March), worked at financial derivatives trading company Liquid Capital Group, where Katz held the position of group head of compliance and legal adviser, and Millar was general counsel. Continue reading “Orrick duo join DLA Piper to bolster financial regulatory team”

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A&O bolsters corporate practice as PE star follows Lloyd from Ashurst

He was singled out as one of Ashurst’s rainmakers of the future but private equity specialist Karan Dinamani has become the second high-profile corporate exit to Allen & Overy (A&O) in six months.

Dinamani (pictured) joins Ashurst’s former global head of corporate, commercial and competition Stephen Lloyd, who resigned within weeks of the firm fully integrating with Australian partner Blake Dawson and post-merger management elections. Lloyd joined A&O as co-head of its private equity practice in November. Continue reading “A&O bolsters corporate practice as PE star follows Lloyd from Ashurst”

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Quinn sees London revenue and profit drop by around 30% as Weil Gotshal’s 2013 numbers decline

Expansive US litigation boutique Quinn Emanuel Urquhart & Sullivan has posted conflicting global and London results for 2013, with overall turnover up by 14% to $972.7m while the firm’s City office has posted its first ever decline in revenue and profit since launching in 2008, both down by around 30%. Continue reading “Quinn sees London revenue and profit drop by around 30% as Weil Gotshal’s 2013 numbers decline”

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Magic Circle leadership: Slaughters appoints Ryde and McClean as head of corporate and finance

In a week that has seen Freshfields Bruckhaus Deringer appoint firm lifer Julian Long as London managing partner, Slaughter and May today announced that Andy Ryde has taken over as head of corporate and Andrew McClean as head of finance, both who trained with the Magic Circle firm. Continue reading “Magic Circle leadership: Slaughters appoints Ryde and McClean as head of corporate and finance”