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Revolving Doors: Chadbourne, A&O, Trowers and Pinsent Masons boost City offering

London dominated the lateral hiring scene over the past week with firms including US Chadbourne & Parke, Allen & Overy (A&O), Eversheds and Pinsent Masons strengthening their City offering.

Chadbourne’s 36-lawyer London office, which acts a hub for the firm’s emerging and developing markets practice, has hired banking and finance partner Partha Pal from the City arm of top 15 US firm Sidley Austin. Continue reading “Revolving Doors: Chadbourne, A&O, Trowers and Pinsent Masons boost City offering”

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Still the divorce capital of the world – Supreme Court orders businessman to hand over assets in key ruling

The landmark divorce battle between Yasmin and Michael Prest has come to an end as the Supreme Court  today (12 June) ruled Prest should hand over properties held by companies under his control.

The ruling – the most significant divorce case to reach the UK’s highest court since the 2010 judgment in Radmacher v Granatino – has been touted as instrumental in establishing whether London remains a key forum for resolving big-money divorce cases. The case has also been watched for its impact on the court’s treatment of the corporate veil, which protects company assets. Continue reading “Still the divorce capital of the world – Supreme Court orders businessman to hand over assets in key ruling”

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Sort of offshoring – Ashurst to create new Glasgow unit to lower costs as City leaders push for value

Major law firms continue to appropriate ideas from legal process outsourcing with Ashurst today (12 June) announcing a venture to create a 150-strong unit in Glasgow to support its practice.

The venture, which will launch later this year, will cover back office support and volume legal work, initially covering areas like document review in litigation and corporate. Continue reading “Sort of offshoring – Ashurst to create new Glasgow unit to lower costs as City leaders push for value”

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Guest post: What does thinking like a professional mean?

Ask yourself this question: do you think of yourself as a professional? For many readers of this blog, I suspect the answer to that question is a rather straightforward, Yes. Now ask yourself this question. Does thinking of yourself as a professional make you more or less ethical?

That is the fascinating issue explored in a new paper from Maryam Kouchaki from the Edmond J. Safra Center for Ethics at Harvard. I urge all of you with an interest to read it. 
Continue reading “Guest post: What does thinking like a professional mean?”

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Clyde & Co continues to reap benefits of Barlows merger with 17% hike in revenue

Clyde & Co has posted a 17% hike in turnover for 2012-13 as the firm continues to reap the benefits of its 2011 merger with Barlow Lyde & Gilbert.

The insurance focussed firm’s revenues have increased from £287m in 2012 to £336.6m in 2013, amidst a sluggish prevailing European economy. According to chief executive Peter Hasson, without including Barlow’s revenues, Clyde & Co would have reported a single digit growth of around 6%. Continue reading “Clyde & Co continues to reap benefits of Barlows merger with 17% hike in revenue”

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SFO to recruit 10 more barristers in defence of Tchenguiz brothers multi-million pound claim

The Serious Fraud Office (SFO) is to recruit an additional 10 junior barristers to join the team involved in the defence of the multi-million damages claims brought by the Tchenguiz brothers.

Last year property tycoons Robert and Vincent Tchenguiz sued the SFO for more than £200m after the agency made serious mistakes in its investigation of their role in the collapse of Icelandic bank Kaupthing, of which they were executives. Continue reading “SFO to recruit 10 more barristers in defence of Tchenguiz brothers multi-million pound claim”

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Merger watch – Norton Rose Fulbright Dubai team in talks to join rival

It’s a cliché that you can’t do large legal mergers without some fallout, a truism that Norton Rose Fulbright now has the chance to contemplate, as it emerges that its Festival Towers Dubai office is likely to move in the wake of its merger this month.

Dubai is one of the few international jurisdictions where Norton Rose and US partner Fulbright & Jaworski had overlapping offerings, which has resulted in a clash of personalities. The two firms combined on 3 June forging a top 10 global practice in revenue terms. Continue reading “Merger watch – Norton Rose Fulbright Dubai team in talks to join rival”

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RPC second City firm today to announce high double digit revenue increase

Reynolds Porter Chamberlain has become the second City firm today (11 June) to announce a high double digit increase in revenue, with turnover up by 20% for 2012-13.

The top 50 LB100 firm has seen its revenue rise from £68m in 2011-12 to £82.1m this year. Its profits are yet to be announced. Continue reading “RPC second City firm today to announce high double digit revenue increase”

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Deal Watch: Clutch of US firms including Skadden, Cleary and Kirkland secure high value corporate mandates

After the slowest opening M&A quarter for a decade the past week saw signs of the forecasted uptick in M&A activity as a clutch of US firms including Skadden, Arps, Slate, Meagher & Flom, Kirkland & Ellis and Cleary Gottlieb Steen & Hamilton secured high value mandates.

In what is said to be the largest Chinese takeover of a US company, Hong Kong-based meat processing giant Shuanghui International Holdings has acquired the world’s largest pork processor, Smithfield Foods, in a deal worth $4.7bn, or $7.1bn including assumed debt. US Paul Hastings led by Hong Kong-based partner Raymond Li advised the buyer alongside LB Global 100 US firm Troutman Sanders, led by corporate partners Mason Bayler, David Myers and Coburn Beck. Smithfield Foods was advised by Simpson Thacher & Bartlett led by M&A partners Robert Spatt and Patrick Noughton and McGuireWoods led by corporate partners David Oakey and James Anderson.

Continue reading “Deal Watch: Clutch of US firms including Skadden, Cleary and Kirkland secure high value corporate mandates”

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Comment: The ABS dilemma – join them sure, but shouldn’t you be beating them?

Amid all the hype surrounding alternative business structures (ABS) one story that emerged last month stood out – the aggressively-marketed Riverview Law’s eye-catching alliance with 48-partner practice DMH Stallard.

In an ABS market heavily focused on the high street and volume insurance work, the deal stands out for aiming to provide something different to corporate buyers of legal services. Continue reading “Comment: The ABS dilemma – join them sure, but shouldn’t you be beating them?”

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After Travers defeat, Linklaters faces discrimination claim by former paralegal

Linklaters is being sued by a former paralegal for unfair dismissal and discrimination just weeks after top 50 law firm Travers Smith was found to have discriminated against a former trainee because she had fallen pregnant.

The case against Linklaters started today (10 June) in the London Central Employment Tribunal and the hearing is scheduled to run for six days. Continue reading “After Travers defeat, Linklaters faces discrimination claim by former paralegal”

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Guest post: Legal aid reform – a fiscal realist’s view

Even I’m concerned about Chris Grayling’s proposals for criminal legal aid. When the government announced cuts to civil legal aid, I broadly backed them, in contrast to most lawyers. Now, the government’s proposing some further cuts to civil legal aid as well as major changes to the criminal legal aid system most dramatically, a move to competitive tendering of publicly-funded criminal defence work. Continue reading “Guest post: Legal aid reform – a fiscal realist’s view”

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Asia round-up: K&L Gates, Akin Gump, Addleshaws and Milbank bolster presence

A raft of leading UK and US firms boosted their East Asian presence this past week, including K&L Gates, Akin Gump Strauss Hauer & Feld, Milbank Tweed Hadley & McCloy and Addleshaw Goddard, with Hong Kong, Beijing and Tokyo a continuing focus of international attention.

On 31 May, Hong Kong corporate partner Virginia Tam moved from White & Case to US rival K&L Gates’ established 19-lawyer office, set up as its first Asian post 15 years ago. Continue reading “Asia round-up: K&L Gates, Akin Gump, Addleshaws and Milbank bolster presence”

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Dundas cancels vacation scheme as trainee intake is deferred

Dundas & Wilson’s beleaguered City office has deferred its 2014 trainee intake by a year and cancelled its London summer vacation scheme just weeks before students were due to arrive.

Around 24 students who were due to spend two weeks at the Scottish firm’s London office next month have been told the scheme will no longer go ahead, which it blames on the ‘firm’s strategic business objectives.’ Continue reading “Dundas cancels vacation scheme as trainee intake is deferred”

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Reports season 2013 – DWF’s acquisition trail sees bumper revenue and profit increase

It has swiftly moved from obscure regional player into one of the most closely watched practices on the national scene and financial results announced today (6 June) confirm the extent of its dramatic ascent. DWF, which has completed five mergers in under 18 months, has unsurprisingly reported significant revenue and profit increases for the 2012/13 financial year.Turnover at the law firm is up 84% to £188m, while the firm’s net profit is up 41%, with profit per equity partner standing at £429,000, against £408,000 the previous year.

Continue reading “Reports season 2013 – DWF’s acquisition trail sees bumper revenue and profit increase”

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TLT announces 10% hike in turnover as Maclay Murray kicks off redundancy round

As Bristol-based TLT yesterday posted a double-digit hike in turnover and announced a dual hire to launch an office in Manchester, in contrasting fortunes Glasgow-based Maclay Murray & Spens became the latest UK firm to announce a redundancy consultation in a move that could affect up to 30 roles. Continue reading “TLT announces 10% hike in turnover as Maclay Murray kicks off redundancy round”

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We’ve implemented the Legal Services Act – how about another review of legal regulation?

One man’s slashing red tape is another’s endless tinkering. Either way, the much-meddled field of legal regulation may face more intervention with news this week that the Ministry of Justice (MoJ) is to conduct a wholesale review of the profession’s regulatory landscape, little more than a year after the Legal Services Act (LSA) came into full force. Continue reading “We’ve implemented the Legal Services Act – how about another review of legal regulation?”

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Leadership: Linklaters elects four new partners to its most senior board

Linklaters has elected four new members to its most senior governance board responsible for strategic and other major decisions at the Magic Circle Firm.

The new members of the international board are London capital markets partner Paul Lewis in place of outgoing City partner Michael Kent, Düsseldorf corporate partner Klaus Hoenig who takes over from Frankfurt partner Eva Reudelhuber, Moscow capital markets partner Dmitry Dobatkin in place of retired former Moscow colleague John Goodwin, and Antwerp corporate partner Jean-Pierre Blumberg in place of Brussels-based litigation head Francoise Lefevre. Continue reading “Leadership: Linklaters elects four new partners to its most senior board”

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Revolving Doors: Osborne Clarke, Eversheds and Bryan Cave among firms to make key strategic hires

Europe has been the focus of much lateral partner activity over the past week, as firms including Eversheds and Osborne Clarke make senior hires across the continent.

On 3 June, Osborne Clarke announced it is to open in Brussels with a two-partner, five-lawyer team from former Belgian ally De Wolf & Partners, led by De Wolf’s head of employment Thierry Viérin and commercial partner Stefan Deswert. Continue reading “Revolving Doors: Osborne Clarke, Eversheds and Bryan Cave among firms to make key strategic hires”

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Strategic Recruitment: King & Spalding continues City drive with Steptoe hire

King & Spalding has continued its City recruitment drive with the hire of Steptoe & Johnson’s London dispute resolution partner and co-head of the Russia and CIS group, Egishe Dzhazoyan.

Listed by Legal 500 as a leading arbitrator with ‘excellent common sense’, Dzhazoyan is a UK and Russian-qualified lawyer who has represented clients in more than 50 arbitration and litigation proceedings across a host of international jurisdictions. He has a particular focus on the banking, telecoms and energy sectors. Continue reading “Strategic Recruitment: King & Spalding continues City drive with Steptoe hire”