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Virtual law: Mercedes-Benz UK GC sets up Radius Law

The virtual law space has a new entrant after former Mercedes-Benz UK group general counsel and head of compliance Iain Larkins this month left his role at the luxury vehicle company to found virtual commercial firm Radius Law.

Speaking to Legal Business, Larkins, who has worked in-house for 14 years, says the fundamental premise of Radius Law is to provide good commercial advice in areas including contract, disputes and competition at a ‘highly competitive’ rate, something he says is still difficult to achieve at many traditional law firms. Continue reading “Virtual law: Mercedes-Benz UK GC sets up Radius Law”

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Tension and infighting as barristers resign from BSB panel over quality assurance scheme

Tensions surrounding the regulation of the various limbs of the legal profession are at an all-time high as this week saw a number of barristers resign from the Bar Standards Board (BSB) disciplinary prosecution panel in protest at the imminent launch of a new quality assurance scheme.

The resignations come in a month that have revealed in more detail than ever the infighting between the various regulatory and representative bodies after the Ministry of Justice called for evidence on how best to regulate the profession going forward. Continue reading “Tension and infighting as barristers resign from BSB panel over quality assurance scheme”

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Trial begins in the SFO’s first prosecution under the UK Bribery Act

The Serious Fraud Office’s (SFO’s) long-awaited first prosecution under the UK Bribery Act began yesterday (23 September), as four men from biofuel investment promoter Sustainable AgroEnergy went on trial in Westminster Magistrates Court.

Four of the men, all former employees of AgroEnergy, which parent company Sustainable Growth is now in administration, are charged with conspiring to conduct a £23m fraud operation in relation to the promotion and selling of bio fuel investment products to UK investors between April 2011 and February 2012, while three of them are also charged with making and accepting a financial advantage contrary to section 1(1) and 2(1) of the act. Continue reading “Trial begins in the SFO’s first prosecution under the UK Bribery Act”

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Herbert Smith Freehills to have a new CEO next year as Bell and Willis step down

David Willis and Gavin Bell, joint chief executive officers at Herbert Smith Freehills (HSF), have announced today (24 September) that they will step down from their roles next Spring.

Willis’ term as managing partner was expected to end in April this year but he agreed to a one-year extension following the merger of Herbert Smith and Freehills last autumn. Bell has been managing partner of Freehills since 1995 but due to serious health issues earlier this year, from which he has fully recovered, he has decided to step down and spend more time with his family.

Continue reading “Herbert Smith Freehills to have a new CEO next year as Bell and Willis step down”

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Surprise and strong words as a nine-partner Hogan Lovells team quits for MoFo’s German launch

While Hogan Lovells has had its integration challenges since the three-year Anglo/American union that created it, the firm’s well-regarded German practice had seemed one part of the empire enjoying prosperous tranquillity.

As such there was some surprise – not least at Hogan Lovells – with the announcement today (24 September), that a nine-partner team is to leave the firm’s Berlin arm to launch a German law practice for top 50 US practice Morrison & Foerster. The team constitutes Hogan Lovells’ entire partnership ranks in Berlin.

Morrison carried out a partner vote to ratify the addition of the team of nine partners, who are currently working with more than 20 associates and counsel. A statement from the firm subsequently confirmed that the US firm had taken on a 30-lawyer team from Hogan Lovells in Berlin.

Continue reading “Surprise and strong words as a nine-partner Hogan Lovells team quits for MoFo’s German launch”

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Texan draw: Dentons opens in Houston as shale gas draws players in

Partly thanks to the shale gas energy phenomenon Texas has become one of the most attractive markets in the US and it is little surprise that Dentons yesterday (24 September) announced it is to open in Houston.

Home to energy giants Baker Botts, Vinson & Elkins and Jones Day, the widening draw of Houston was affirmed in 2010 when Latham & Watkins opened an office with the hire of lawyers from Baker Botts and Akin Gump Strauss Hauer & Feld, including former energy head Michael Dillard. In 2011 Norton Rose was reportedly looking at the region: that ambition was achieved this year with its merger with Houston-founded leading energy firm Fulbright & Jaworski. Continue reading “Texan draw: Dentons opens in Houston as shale gas draws players in”

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The Bar: Littleton Chambers QC heads to Kobre & Kim as Ince & Co partner joins Stone Chambers

The increased fluidity between the various limbs of the legal profession has been in evidence over the past few days as offshore litigation boutique Kobre & Kim hires Littleton Chambers’ Andrew Stafford QC as a partner and high profile Ince & Co partner Jonathan Lux joins Stone Chambers, while Devereux Chambers has also announced the arrival of tax specialist Jolyon Maugham from 11 New Square. Stafford QC, who becomes Kobre’s third QC appointment, specialises in commercial litigation, with a particular emphasis on financial services, pensions and employment related disputes. Continue reading “The Bar: Littleton Chambers QC heads to Kobre & Kim as Ince & Co partner joins Stone Chambers”

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SJ Berwin to collect on unpaid legal fees from Qatari sheikh

Middle-Eastern high-net-worth individuals are probably the last clients you would expect to be forced to chase for money but SJ Berwin is set to receive over £260,000 in unpaid fees from a Qatari sheikh client in a judgment revealed last week.

Reported on Bloomberg Businessweek on Friday (20 September), the decision was handed down by the High Court in April after Sheikh Saud Bin Ali Al-Thani failed to respond to a lawsuit brought by the City firm. SJ Berwin, which will merge with King & Wood Mallesons on 1 November, is owed $419,000 for its advice when Al-Thani’s assets were frozen last year after he failed to pay auction houses for bids that he won. Continue reading “SJ Berwin to collect on unpaid legal fees from Qatari sheikh”

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Ashurst gears up for new chairman election as Oz merger vote is brought forward

As Ashurst nears a crucial vote on full integration with Australian partner Blake Dawson – now known as Ashurst Australia – the firm’s partners are also poised to elect the firm’s next chairman.

Partners were informed this morning (23 September) that Ashurst dispute resolution partner Ben Tidswell and Ashurst Australia competition and consumer protection partner Peter Armitage will be running for the role alongside current senior partner Charlie Geffen, whose role will be replaced by the new chairman position.

Continue reading “Ashurst gears up for new chairman election as Oz merger vote is brought forward”

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Legal aid cuts blamed by Tooks Chambers as set announces its dissolution

Leading civil liberties and human rights set Tooks Chambers has announced today (23 Sept) that it is to wind up its operations as a ‘direct result of government policies on legal aid’, following months of speculation surrounding its future.

In a statement published on its website this afternoon, the 30-year old set, which has been involved in tackling many high profile miscarriages of justice, including currently advising on the Hillsborough inquest, was scathing about the government’s legal aid cuts, saying: ‘The public service we provide is dependent on public funding. 90% of our work is publicly funded. The government policies led by Justice Secretary Chris Grayling are cumulatively devastating the provision of legal services and threatening the rule of law.’ Continue reading “Legal aid cuts blamed by Tooks Chambers as set announces its dissolution”

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Moving in-house: Broker AKJ brings in former LSE-lawyer as first general counsel

The trend of companies increasingly enhancing their teams to include sophisticated and growing in-house legal departments shows little sign of abating as independent brokerage and financial software group AKJ becomes the latest to boost its legal capabilities, hiring its first general counsel and in-house lawyer, the former legal chief for the London Stock Exchange Tom Mackay.

Announced yesterday (19 Sept), Mackay has acted as an external legal consultant for AKJ for over 12 years however, with the establishment and growth of fund AKJ Accelerator last year, the group has created a senior position for the veteran.

Continue reading “Moving in-house: Broker AKJ brings in former LSE-lawyer as first general counsel”

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Further PI shake up appears imminent as Pannone votes on Slater & Gordon part acquisition

Acquisitive Slater & Gordon looks set to acquire the personal injury practice of Manchester-based Pannone as sources close to the firm say it will vote next week in what is tipped to be a done deal.

The Australian Stock Exchange (ASX) listed firm, which last month announced its acquisition of Manchester-based personal injury firm Fentons, is understood to have been in talks with Pannone for several months.

Continue reading “Further PI shake up appears imminent as Pannone votes on Slater & Gordon part acquisition”

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SRA reviews firm finances amid ‘perfect storm’ while KPMG reveals cost of Cobbetts collapse

The Solicitors Regulation Authority (SRA) has begun an evaluation of financial data gathered from 2,000 law firms after warning earlier this summer that an increasing number of the UK’s 11,000 law firms face financial collapse due to a ‘toxic combination of factors causing a perfect storm’. Elsewhere, the latest report from KPMG reveals the total bill for winding down Cobbetts currently stands at nearly £1.7m.

Continue reading “SRA reviews firm finances amid ‘perfect storm’ while KPMG reveals cost of Cobbetts collapse”

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Outsourcing giant Capita unveils plans to enter legal market as first ABS posts healthy financial results

Outsourcing giant Capita is to re-enter the UK legal market, having reached a conditional agreement to acquire Optima Legal Services, subject to approval from the Solicitors Regulation Authority (SRA). Capita submitted an alternative business structure (ABS) licence application last week.

In an ironic twist, Capita’s plans have emerged three years after the SRA ordered Optima to break ties with the outsourcing group after the regulator found the relationship had breached rules governing non-lawyer investment in firms.

Continue reading “Outsourcing giant Capita unveils plans to enter legal market as first ABS posts healthy financial results”

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Sorry the hardest word as Bar Council apologises for getting its sums wrong

In an embarrassing setback The Bar Council has apologised for incorrect figures submitted to the Ministry of Justice in support of its proposals to abolish the Legal Services Board (LSB).

The error came as the Bar’s representative body on 17 September put forward its proposals in response to the government’s call for proposals on ‘what could be done to simplify the regulatory framework and reduce unnecessary burdens on the legal sector while retaining appropriate regulatory oversight.’

Continue reading “Sorry the hardest word as Bar Council apologises for getting its sums wrong”

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Close to the wire: Freshfields and Herbert Smith settle £142m London Underground negligence claim

Freshfields Bruckhaus Deringer and Herbert Smith Freehills have reached an eleventh hour settlement of the £142m professional negligence claim brought against them by London Underground (LUL).

Due to be heard over a four week period in October, the case is arguably the largest ever filed against a City firm. Continue reading “Close to the wire: Freshfields and Herbert Smith settle £142m London Underground negligence claim”

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Asia-Pacific: DLA moves to strengthen Australia offering with double corporate partner hire

DLA Piper has considerably strengthened its corporate practice in Australia with the appointment of two partners from leading local firms, veteran Bryan Pointon from Gilbert + Tobin and David Ryan from Ashurst Australia.

Private equity specialist Pointon has been a partner in Gilbert + Tobin’s corporate practice since 2007. Prior to that, he was a partner for 10 years at King & Wood Mallesons legacy firm Mallesons Stephen Jacques.

Continue reading “Asia-Pacific: DLA moves to strengthen Australia offering with double corporate partner hire”

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Barclays £5.8bn rights issue sees Clifford Chance, Sullivan & Cromwell and Freshfields in the lead

Barclays has begun the biggest capital raising by a UK bank since 2009 under which Clifford Chance (CC), Sullivan & Cromwell and Freshfields Bruckhaus Deringer will lead on its initial £5.8bn rights issue, as the global financial institution moves to plug a £12.8bn funding gap.

A team from 3017-lawyer Magic Circle firm CC led by London corporate partner Patrick Sarch and capital markets partner Simon Thomas is advising on English law for Barclays, while a Sullivan & Cromwell team in London is advising the bank on US law, led by client relationship partners George White and John O’Connor.

Deputy general counsel Michael Shaw is leading the Barclays team. Continue reading “Barclays £5.8bn rights issue sees Clifford Chance, Sullivan & Cromwell and Freshfields in the lead”

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Recruitment drive for Cadwalader in London reaps double Mayer Brown hire

Cadwalader, Wickersham & Taft’s efforts to rebuild its London finance team were today rewarded with the hire of two leading Mayer Brown structured finance partners to boost its City offering.

Former Mayer Brown finance and banking practice head Bruce Bloomingdale joins the 435-lawyer firm today (18 September) alongside Chicago banking and finance partner Jeremiah Wagner, who has been on secondment to Mayer Brown’s London office. Continue reading “Recruitment drive for Cadwalader in London reaps double Mayer Brown hire”

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European tax boost for Shearman as it becomes BFs with Tremonti

Shearman & Sterling has boosted it European tax offering by entering into a ‘best friends’ cooperation agreement with tier one Italian tax practice Tremonti Vitali Romagnoli Piccardi e Associati.

The firms have previously worked together on high profile transactions for corporates and financial institutions and will remain fully independent but will now jointly pitch for work from both Italian and international clients. Continue reading “European tax boost for Shearman as it becomes BFs with Tremonti”