Page 557 – Legal Business

Sochi over, the World Anti-Doping Agency brings in new GC as it looks to tougher 2015 code

As the excitement surrounding the successful albeit controversial Winter Olympics 2014 in Sochi fades, the World Anti-Doping Agency (WADA) will shortly, albeit with less fanfare, welcome the arrival of new general counsel and chief operating officer Olivier Niggli, who joins the global agency from Swiss law firm Carrard & Associés.

Currently a partner at the Lausanne-based business and sports boutique, where he specialises in sport, arbitration and commercial law, Niggli will in June join the agency he helped to set up in 1999, as it prepares to implement a new, far stricter code, which comes into effect on 1 January 2015 and will double the ban for athletes found guilty of doping from two to four years. Continue reading “Sochi over, the World Anti-Doping Agency brings in new GC as it looks to tougher 2015 code”

Continue reading “Family marketing teams on DEFCON 1 as Law Commission calls for gold-plated prenups in UK law”

Family marketing teams on DEFCON 1 as Law Commission calls for gold-plated prenups in UK law

For marketing teams at the family bar it’s been a tough wait but at last the Law Commission has issued its long-trailed proposals on matrimonial property laws.

Private practice teams across London have been lightening quick to respond to the report, published today (27 February), which proposes new legislation to take out the uncertainty surrounding the enforcement of pre-nuptial agreements, an issue that has dogged divorce cases of wealthy couples, setting London at a disadvantage to the majority of countries in Europe.

US merger talks: Patton Boggs and Squire Sanders confirm ‘early’ discussions

Washington-based Patton Boggs and transatlantic top 40 Global 100 firm Squire Sanders are in preliminary merger talks, the firms confirmed to Legal Business today (27 February), with a view to creating a 1,700-lawyer firm with 45 offices across 22 countries.

The confirmation, which comes after widespread reports of the talks across the US legal and financial media yesterday (26 February), stressed that ‘discussions are in very early stages, and there is no assurance that a combination will be completed.’ Continue reading “US merger talks: Patton Boggs and Squire Sanders confirm ‘early’ discussions”

US results season 2013: Hogan Lovells unveils highest post-merger results with 5.2% increase in turnover

Transatlantic firm Hogan Lovells has today (27 February) unveiled its highest post-merger global financial results, posting a fee-income increase of 5.2% while profit per equity partner (PEP) and revenue per lawyer (RPL) increased by 10% and 3.7% respectively.

Fee-income increased to $1.72bn, while PEP rose to $1.21m and RPL was up to $742,613. Across the regions, the Americas represented approximately 46% of total billings, while London and Continental Europe together equalled 47%, and the Asia & Middle East region totalled 7%. Continue reading “US results season 2013: Hogan Lovells unveils highest post-merger results with 5.2% increase in turnover”

‘Worst fears confirmed’ as Grayling announces final legal aid reform package

There was never likely to be much compromise and so it proved. The Government today (27 February) confirmed its final package of reforms to the legal aid system following consultation, that includes a range of measures ‘specifically designed to support lawyers through a period of transition and modernisation’. The package – which the Government hopes will slice more than £200m from the £1.2bn criminal legal aid budget – was swiftly condemned by the profession with the Bar Council claiming the measures confirmed its ‘worst fears’. Continue reading “‘Worst fears confirmed’ as Grayling announces final legal aid reform package”

Reforming the reforms: One-year-on Jackson soundings likely to lead to further calls for overhaul of DBAs

The first year bedding down Lord Justice Jackson’s extensive civil litigation reforms was always going to be challenging, but as the Civil Justice Council (CJC) this month announces a one-year-in soundings process, senior City litigators are expected to call for a radical overhaul of the largely unpopular damages-based agreements (DBA) provisions ushered in by the reforms.

Announced on 13 February, the CJC is inviting written submissions from the legal profession on the ‘practical impact’ of the reforms and will hold a conference in March to discuss the submissions with representatives of stakeholder groups such as practitioners, the judiciary, consumers, major court users and other interested parties. Continue reading “Reforming the reforms: One-year-on Jackson soundings likely to lead to further calls for overhaul of DBAs”

Hogan Lovells eyes growth in South Africa with hire of Edward Nathan Sonnenbergs partner as banking head

Transatlantic giant Hogan Lovells has made its first lateral hire in South Africa since merging last December with Routledge Modise, taking on finance partner Anina Boshoff from leading local firm Edward Nathan Sonnenbergs (ENS) to head up its banking and finance department in Johannesburg.

Boshoff (pictured), who returned to South Africa early in 2010 after working in the Singapore office of Allen & Overy for three years, will begin her new role on 1 March, and will be joined by ENS associates Candice Morgan and Sanrie van Tonder. Continue reading “Hogan Lovells eyes growth in South Africa with hire of Edward Nathan Sonnenbergs partner as banking head”

RBS litigation: Bird & Bird’s head of dispute resolution criticised for £500m fluctuation in value of claim

The highly complex Royal Bank of Scotland 2008 rights issue litigation has seen Bird & Bird’s dispute resolution head Steven Baker criticised at the High Court over a £500m fluctuation in the value of the claim.

In his fifth witness statement to the court in November Baker, who represents John Greenwood and the RBoS Shareholders Action Group Limited, with around 12,000 retail and around 100 corporate, institutional and charitable members (the BB Action Group), told the court: ‘the losses suffered by the members of the BB Action Group who have actually issued proceedings so far would equate to approximately £900m…and the total acquisition value of those claimants’ shares is £1.25bn.’ Continue reading “RBS litigation: Bird & Bird’s head of dispute resolution criticised for £500m fluctuation in value of claim”

Continue reading “Systems overhaul required as Treasury Solicitor’s Department falls foul of Data Protection Act”

Systems overhaul required as Treasury Solicitor’s Department falls foul of Data Protection Act

Whitehall’s largest legal department, the Treasury Solicitor’s Department (TSol) is to improve its data protection practices after an independent investigation found it had breached the Data Protection Act four times between 2011 and 2012.

The investigation by the UK’s independent data privacy authority, the Information Commissioner’s Office (ICO), found that TSol failed to comply with the act after it released the personal information of individuals to third parties on four separate occasions between August 2011 and November 2012.

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US financial results 2013: Paul Weiss builds on 2012 success with revenue increase of 7%

New York elite firm Paul, Weiss, Rifkind, Wharton & Garrison has built on its double-digit growth of 2012 by turning out a near 7% increase in revenue for 2013, up to $934.5m, while its profit per equity partner (PEP) figure rose by 8% to $3.62m.

The results follow the 803-lawyer firm’s 12% increase in turnover to $877m in 2012, coupled with a 6% increase in PEP to $3.35m. Much of the top 40 Global 100 firm’s success is credited to its top flight litigation practice, which has represented major financial institutions such as Bank of New York Mellon in its defence against a $1bn claim last May. Continue reading “US financial results 2013: Paul Weiss builds on 2012 success with revenue increase of 7%”

Continue reading “Profile: Alison Kay, National Grid”

Profile: Alison Kay, National Grid

The energy giant’s group GC discusses the overhaul of its legal function

When the in-house legal team of a large corporate announces a ‘review’, it’s often enough to instil a sense of foreboding in its external legal panel. For the law firm, it’s likely to mean months of painstaking paper pushing, parading in front of senior lawyers (and, these days, possibly their bosses) and making promises they hope they can keep, particularly when it comes to costs versus service levels.

But at National Grid, things are a little different, for now at least. There is a review planned, but group general counsel (GC) and company secretary Alison Kay is determined to analyse service levels closer to home, starting with her own 31-strong UK team.

Making a splash – partners from Shearman, Covington and Jones Day join breakaway Freshfields arbitration boutique

As brand new start-ups go, the Freshfields Bruckhaus Deringer-breakaway arbitration boutique set up by heavyweight arbitrators Constantine Partasides, Paris-based Georgias Petrochilos and former arbitration co-chair Jan Paulsson earlier this month is making quite a splash.

Following news of its launch on 17 February, the latest announcement today (26 February), less than ten days later, is that Shearman & Sterling Paris international arbitration partner Todd Wetmore, Covington & Burling’s London-based international arbitration co-chair Gaetan Verhoosel, and Washington-based Jones Day litigation partner Luke Sobota have all resigned to co-found the new venture. Continue reading “Making a splash – partners from Shearman, Covington and Jones Day join breakaway Freshfields arbitration boutique”

Energy run: Clifford Chance advises Shell on series of major M&A deals

Clifford Chance (CC) has secured a run of major mandates for Royal Dutch Shell including last week’s A$2.9bn ($2.6bn) agreement to sell the global energy giant’s Australia downstream businesses to Vitol and the sale of a number of businesses in Italy to affiliates of Kuwait Petroleum International.

The Vitol deal, which was announced on 21 February, saw CC led by London-based partner Kathy Honeywood, Singapore-based Geraint Hughes, and Australia-based Tracey Renshaw advise on all aspects of the transaction, which included the sale of Shell’s Geelong refinery and 870-site retail business in Australia. Continue reading “Energy run: Clifford Chance advises Shell on series of major M&A deals”

US results season 2013: McDermott and King & Spalding post 4% increase in revenue

Chicago-headquartered firm McDermott Will & Emery has continued its post-financial crisis recovery, unveiling a 3.5% increase in revenue to $881m, as close US rival in revenue terms, King & Spalding sees its turnover increase by 4% to $861.4m.

McDermott’s net income also grew in 2013, with a 7% increase to $297m, fuelling an increase in profit per equity partner (PEP) to $1.545m. The top 40 Global 100 firm’s profit margin rose by a percentage point to 34%, while its revenue per lawyer increased by 4.2% to $865,000. Continue reading “US results season 2013: McDermott and King & Spalding post 4% increase in revenue”

American without tears – succession planning at the increasingly transatlantic DLA Piper

So the experiment ends as a qualified success. News of the early-timed succession planning at DLA Piper confirmed that well-regarded IP and technology partner Simon Levine is to assume Nigel Knowles’ role as co-chief executive, with Knowles next year taking on the role of co-chair in place of Tony Angel.

Angel, of course, had been recruited two and a half years ago to sharpen up DLA Piper’s governance, financial management and improve links with its US business. Recruiting the former Linklaters managing partner was pretty much unprecedented in the profession in terms of hiring a c-suite executive from one major firm to another, and very different institutions at that. The official message was that Knowles had spontaneously pressed his old mate to join Team DLA. There was a degree of spin in that. While the pair had long been friendly, there was pressure from the US – which had grown weary over a series of missteps in Europe and the Middle East – for Angel’s appointment. Continue reading “American without tears – succession planning at the increasingly transatlantic DLA Piper”

Continue reading “One year on: enjoying it so much I hope I don’t mess it up”

One year on: enjoying it so much I hope I don’t mess it up

‘So, are you enjoying it?’ I’ve lost count of the number of times I have been asked the question since joining Legal Business last February.

The question makes me feel awkward because I’m not a positive person. I try to be but I know I’m not. But the honest answer as I pass the one-year mark is: ‘Yes, I’ve enjoyed it. So much actually that the gloomy part of myself keeps waiting for it to go wrong.’ I know of no better measure than that.