Commerzbank has today (26 April) lost its appeal in its high-profile four-year battle over unpaid bankers’ bonuses – one of the largest cases against a bank to run since the credit crunch.
Represented by Linklaters, Germany’s second largest bank will have to pay €52m to 104 London-based bankers, unless it obtains leave to appeal to the Supreme Court.
Continue reading “Commerzbank loses bankers’ bonuses appeal”
Taylor Wessing has more than doubled its partner promotions this year to 16, of which only one is in its City office.
City private client lawyer Kirstie McGuigan was made up to partner while the firm’s other promotions were spread across Munich (four), Berlin (two), Frankfurt (one), Dusseldorf (two), Hamburg (one), Budapest (one), Vienna (one), and Prague (two), Bratislava (one).
Continue reading “Taylor Wessing boosts partnership by 16 in latest promotion round”
Steve Davis, former chairman of Dewey & LeBoeuf, has offered to pay over half a million dollars to settle claims against him following the firm’s collapse last year.
Davis has agreed to pay $511,145 in the form of a promissory note to the firm’s liquidation trust, after Dewey became the largest law firm in US history to file for Chapter 11 bankruptcy last May.
Continue reading “Former Dewey chairman to pay $500k mismanagement settlement”
Allen & Overy has increased trainee pay rates bringing to an end a three-year freeze and has promoted 24 lawyers to the role of counsel.
The Magic Circle firm is the first to raise the stakes amongst its peers this year, with second-year trainee rates increasing by £800 to £44,000 – £200 less than the previous increase in May 2010, where pay packets grew from £42,200 to £43,200.
Continue reading “A&O introduces first trainee salary increase since 2010”
Third party financier Harbour Litigation Funding is to bankroll a claim against Barclays alleging the bank mis-used confidential information in its 2010 takeover of Tricorona.
The £164m claim is being brought by UK trading and investments firm CF Partners, which alleges that Barclays used confidential information it supplied to the bank when requesting funding for its own bid for Tricorona.
Continue reading “Harbour Litigation funds claimant in dispute with Barclays”
Mishcon de Reya has enhanced its real estate finance offering with the addition of former SJ Berwin partner Raji Bartlett.
Bartlett joined Mishcon as a consultant this week, having previously been a partner in the finance department at SJ Berwin for the last 16 years.
Norton Rose has promoted 33 lawyers to its global partnership ahead of its merger with US firm Fulbright & Jaworski in June.
That number represents only a marginal drop on last year, when Norton Rose promoted 36 lawyers to its partnership.
Continue reading “Norton Rose makes up 33 partners in latest promotions round”
Ropes & Gray is to bolster its City and Hong Kong arms with a two-partner hire from US rival Fried Frank Harris Shriver & Jacobson.
In London former Allen & Overy finance partner Mark Wesseldine will join from Fried Frank on 1 May, bringing the City partner and counsel total to 20, while Fried Frank capital markets and M&A partner Victoria Lloyd is to join the Hong Kong office on 13 May.
Continue reading “Ropes & Gray boosts London and Hong Kong with double Fried Frank hire”
Mills & Reeve today (24 April) announced that it is to expand its presence in the North through a merger with Manchester-based law firm George Davies, after partners voted in favour of the move.
Public sector and sports law specialist George Davies will add around £7m in revenue to Mills & Reeve’s £69.4m, based on 2011-2012 results, consolidating the national firm’s position in the Legal Business 100 rankings where it currently sits at position 47.
Continue reading “Mills & Reeve confirms merger with Manchester firm George Davies”
Herbert Smith Freehills (HSF) and Ashurst have both announced their latest partner promotions today (23 April), with Herbert Smith promoting considerably more associates than last year while Ashurst made up fewer partners this time around.
Herbert Smith Freehills (HSF) has promoted 19 lawyers to its partnership, up from just 10 last year, with the majority of the partners come from the firm’s self professed twin engines of corporate and dispute resolution, with seven partners being made up in each practice areas.
Following the firm’s merger with Australian outfit Freehills last summer, seven partners have been made up in Australia. These include corporate lawyers Paul Branston in Brisbane and Mark Currell in Sydney; disputes specialists Leon Chung and Hugh Paynter in Sydney; Matthew Bull, a competition associate in Brisbane; and projects associate Daniel Zador and finance lawyer Rowen Cross, both based in Perth.
Continue reading “HSF and Ashurst announce partner promotions”
Pinsent Masons has promoted 14 lawyers to its partnership with a further 11 awarded the position of legal director.
The firm made up 11 partners across its UK offices and a further three in Asia, in the second round of promotions since its merger with Scottish firm McGrigors last May.
Olswang has concluded an extensive governance review that has seen the creation of an executive committee responsible for the firm’s management and strategy.
The review, led by general counsel Simon Callander, has also resulted in a complete overhaul of the firm’s board, which will now reflect the voice of the partnership and act as a check and balance to the committee’s primary decision-making role.
Continue reading “Olswang creates executive committee in management overhaul”
Freshfields Bruckhaus Deringer continues to boost its disputes practice in Hong Kong with Herbert Smith Freehills’ (HSF) financial services regulatory partner Tim Mak set to join the firm.
Mak will work alongside Asia head of financial services Royce Miller and contentious regulatory partner Georgia Dawson. Mak is tri-lingual and will specialise in both contentious and non-contentious regulatory matters but has particular experience in civil and criminal proceedings and investigations.
Continue reading “Freshfields hires HSF financial services regulatory partner”
Dentons has hired SJ Berwin corporate finance partner Nicholas Plant to lead its private equity group in the UK, Middle East and Africa.
Plant’s practice focuses on advising private equity houses on domestic and cross-border leveraged buy-outs. He also advises on general M&A and joint ventures. Most recently, he has been particularly involved in acting for US corporates, healthcare sector clients and on deal-by-deal financings.
Continue reading “Dentons strengthens private equity offering with SJ Berwin hire”
Allen & Overy has hired Shearman & Sterling’s corporate partner Hans Diekmann as a partner in its Düsseldorf office.
Diekmann, whose start date at A&O is yet to be confirmed, joined Shearman as a partner in 1999. Before that he worked in the legal department of Deutsche Bank’s headquarters in Frankfurt for over seven years. Diekmann will become the sixth partner in A&O’s Düsseldorf office, all of which have been hired in.
LPO provider Integreon has lost its business development chief John Croft to legal services provider Elevate, just weeks after CMS Cameron McKenna and Osborne Clarke scaled back their agreements with the outsourcing giant.
Elevate, whose founder is former Integreon CEO Liam Brown, announced Croft’s London-based appointment on 19 April, as the company seeks to launch a ‘new alternative legal services provider’ in the UK. Croft will establish Elevate’s technology and services in the UK and European markets.
Continue reading “Integreon loses business development chief to Elevate”
DAC Beachcroft has announced the appointment of a five-strong professional indemnity (PI) team from Morgan Cole to its Newport office.
The team, led by partner Clare Hughes-Williams, comprises one associate and three solicitors who will work as part of the professional and commercial risk practice from 1 May.
Continue reading “DAC Beachcroft boosts professional negligence practice with hire of team in Wales”
Network Rail has cut its legal roster from 12 to five core firms in a review that sees newly merged firm Dentons appointed to the panel.
Other firms awarded full service contracts for work in England and Wales are Bond Pearce (Bond Dickinson on 1 May), Eversheds and Addleshaw Goddard. Maclay Murray & Spens has been awarded the contract for Scottish law matters. All four were reappointed from the previous panel.
Continue reading “Dentons wins spot as Network Rail announces panel revamp”
King & Spalding has recruited King & Wood Mallesons Melbourne co-head of arbitration Peter Megens as a partner in its Singapore office.
Megens, a senior construction partner, is King & Spalding’s third Singapore lateral hire in under a year. Clifford Chance oil and gas partner Merrick White joined the firm in October of last year, shortly followed by project finance partner Kelly Malone from Norwegian firm Wikborg Rein in December.Malone was previously head of his firm’s global projects team.
Continue reading “King & Spalding recruits high-profile arbitrator in Singapore”
Irwin Mitchell announced yesterday (17 April) that it is to promote to partnership four non-lawyers in a bumper round of promotions.
The four will be promoted to rank of associate director, which is the equivalent of partner at the Major UK firm. They are: Manchester-based head of communications, Mark Duffell; head of talent and resourcing, Janet Sandford, and two from the operations team, David Robinson and Danny Varhalamas.
Continue reading “Irwin Mitchell promotes four non-lawyers in record partnership round”
