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Dechert condemns former partner Gerrard after High Court rules the firm breached ENRC client duty

Royal Courts of Justice, London

Dechert has strongly condemned retired white-collar partner Neil Gerrard after the High Court today (16 May) ruled that he and the firm itself breached their duty of care to mining giant and client ENRC.

The £70m claim brought in 2019 was heard by the High Court in an 11-week trial between May and September 2021. It centered around allegations that Dechert – which represented ENRC between 2011 and 2013 – colluded with the Serious Fraud Office (SFO) during an investigation into the company.  Gerrard led on the matter for Dechert, with ENRC specifically alleging he passed on confidential information to the fraud watchdog and the press. Continue reading “Dechert condemns former partner Gerrard after High Court rules the firm breached ENRC client duty”

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Revolving Doors: BCLP hires Brown Rudnick restructuring duo as Greenberg bolsters white-collar practice

 

Greenberg Traurig continues to bolster its white-collar crime and investigations team with the addition of Rebecca Meads. Meads joins as the chair of the London white-collar practice from corporate crime boutique Peters & Peters. She arrives alongside senior associates Gavin Costelloe and Alex Swan.

This follows the firm’s hire of Jo Rickards, now co-chair of its global white-collar defence and special investigations practice, as part of a seven-shareholder coup from Mishcon de Reya in October 2021. Continue reading “Revolving Doors: BCLP hires Brown Rudnick restructuring duo as Greenberg bolsters white-collar practice”

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Comment: A personality crisis and the great WFH salary cut brouhaha

Hasn’t what I’m snappily calling ‘Stephenson Harwood WFH pay cut-gate’ caused a furore?

In case you’ve missed it, the RollOnFriday report that the City firm is offering staff the option to work from home full time – but with a 20% salary reduction – has sparked righteous indignation, the level  of which has not been seen since… forever. Continue reading “Comment: A personality crisis and the great WFH salary cut brouhaha”

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Ince in firing line over ‘inappropriate’ restaurant behaviour allegations

Ince & Co

Ince has launched a formal internal investigation after a viral tweet from a Cardiff restaurant owner claimed a group of its lawyers had behaved inappropriately towards a waitress.

In the social media post, which as of today (9 May) has been ‘liked’ close to 132,000 times, Cora owner Lee Skeet alleged in an email that the group had ‘talked down to, disrespected, and touched unwantedly’ a 22-year-old waitress named Lily.

Continue reading “Ince in firing line over ‘inappropriate’ restaurant behaviour allegations”

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Leadership shake-up sees Stevens & Bolton unveil new managing partner

Richard King has been succeeded by corporate partner James Waddell as Stevens & Bolton’s managing partner as part of a leadership revamp.

King is stepping down after a successful five years in the role. In 2021, the Guildford-headquartered firm reported turnover of £29.1m, bringing the firm to 11 consecutive years of solid revenue growth. Corporate was among the fastest-growing practice areas last year posting 10% growth on 2020, behind only the firm’s intellectual property team, which reported a 17% growth. Continue reading “Leadership shake-up sees Stevens & Bolton unveil new managing partner”

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Sponsored briefing: As data breach becomes a battleground for class action litigation, companies need to take a risk-based approach to cyber security

The pandemic and GDPR regimes have heightened the litigation risk presented by data breaches and other cyber security issues in recent years.

Cyber attacks have grown in number and sophistication as businesses relied more than ever on technology to deliver their products and as remote working became the norm. According to a UK government report1, two in five businesses in Britain suffered cyber security attacks in the 12 months to March 2021, with an attached cost of £13,400 on average per data breach for medium and large companies. Continue reading “Sponsored briefing: As data breach becomes a battleground for class action litigation, companies need to take a risk-based approach to cyber security”

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Revolving doors: Four in three out for Squire as Ropes brings in private equity trio

Ropes & Gray London office

Ropes & Gray has taken further steps towards its goal of becoming the go-to private equity practice in the city with the addition of partners Dan Oates, Simon Saitowitz and Angela Becker in the London office.

The trio, all of whom have joined from Fried Frank, are the latest in a string of London recruits by the Boston-headquartered firm, which has seen a 25% increase in fee earners in the capital since last year. All three bring expertise in cross-border M&A and private equity transactions. Continue reading “Revolving doors: Four in three out for Squire as Ropes brings in private equity trio”

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Eversheds and Clifford Chance Moscow teams launch independent firms following Russia exodus

Moscow, Russia, Kremlin, Bolshoy Kamenny Bridge

Following on from the spate of Moscow office closures in March as a response to Russia’s invasion of Ukraine, international firms have started to set out their future plans for practices and teams.

Clifford Chance outlined plans for its Moscow team, having announced that it would begin an ‘orderly wind down’ of its business in Russia in March. Continue reading “Eversheds and Clifford Chance Moscow teams launch independent firms following Russia exodus”

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Sponsored foreword: What’s next for M&A?

The key question at the present time is ‘what’s next for M&A’? Ever since the financial crisis, the M&A market has been strong, driven by a favourable economic backdrop, a large pool of liquidity and fundamental structural dynamics being driven by digitalisation and more recently by the move towards net zero. This strength in activity has only ever been seriously held back by the pandemic, which was – at least for M&A – a relatively short lived affair. At no time in the last decade have we faced as many headwinds as we do now, but how will the M&A market adapt? Continue reading “Sponsored foreword: What’s next for M&A?”

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Sponsored briefing: The impact of ESG on M&A transactions

In recent years, environmental, social and governance (ESG) issues have become increasingly important to shareholders and boards, as the regulatory landscape has developed quickly in multiple jurisdictions, and the financial and reputational risks of non-compliance with ESG regulation and best practice have increased. Listed companies, large corporates, private equity funds and financial institutions are all now subject to increased ESG-related reporting and disclosure obligations, and are demanding greater transparency and standards from investee companies in ESG matters. ESG factors are also increasingly relevant to acquisition finance, with the growth of the sustainable finance market.
Continue reading “Sponsored briefing: The impact of ESG on M&A transactions”

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Clifford Chance makes up 17 City partners in largest promotion round since 2007

Jeroen Ouwehand

Clifford Chance (CC) has promoted 37 lawyers to the partnership including 17 in the City, making it the latest Magic Circle firm to announce increased partner rounds in 2022.

All of the Magic Circle firms saw a jump in partner promotions this year, including the typically conservative Slaughter and May, which made up eight lawyers, an increase from five in 2021. Meanwhile, Allen & Overy’s 39-strong promotion round globally – including 13 in London – marks a step up from 30 last year. Linklaters promoted 41, up from 35 in 2021 and Freshfields Bruckhaus Deringer minted 27 compared with 22 last year.

Continue reading “Clifford Chance makes up 17 City partners in largest promotion round since 2007”

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Marching on

‘People typically underestimate the innovative powers that are out there,’ reflects Rick van Aerssen, Freshfields Bruckhaus Deringer’s global managing partner. ‘The adaptability of society has been significant. The way that the different economies have weathered the storm from the pandemic has been north of what we would have anticipated two years ago. I personally think the same will hold true for any crisis.’ Continue reading “Marching on”

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Shining a light on the next generation of dealmakers

It’s no secret that the M&A markets have been busier than ever of the last 18 months. Here, UK Legal 500 editor Georgina Stanley asked some of those set to dominate the City deal market over the next ten years to take a short break from their negotiations to share their tips for success. All ten of the lawyers featured over the coming pages have demonstrated the client relationship and transactional skills required to secure their spots as Next Generation M&A partners in the UK Legal 500 2022. From the deals that have defined their careers, through to the importance of staying calm in a crisis and the growing significance of ESG considerations and legal tech, they offer their insight into the profession and its future.

Continue reading “Shining a light on the next generation of dealmakers”