‘It will be important whatever happens’: Pallas Partners represents ClientEarth in climate action against Shell’s board

‘It will be important whatever happens’: Pallas Partners represents ClientEarth in climate action against Shell’s board

In what the client has billed ‘the first case of its kind seeking to hold corporate directors personally liable’, Pallas Partners is representing ClientEarth pro bono in its case against Shell’s board of directors for ‘mismanaging climate risk’.

After nearly a year of pre-action proceedings, Pallas Partners has filed a derivative action against the energy giant for what its client says is a failure to adopt a business strategy that will mitigate its exposure to climate risk. Continue reading “‘It will be important whatever happens’: Pallas Partners represents ClientEarth in climate action against Shell’s board”

Shearman and Travers hit with losses as recruitment turns to restructuring and leveraged finance

Shearman and Travers hit with losses as recruitment turns to restructuring and leveraged finance

Ongoing talk of a merger with Hogan Lovells has prompted an exodus from Shearman & Sterling, with the departure of EMEA and Asia M&A head Philip Cheveley to Sidley Austin one of the headline moves in the London market in recent weeks.

The blow to Shearman will be even more keenly felt since the move represents a reversal for one of its stated ambitions to focus on corporate, and because Cheveley only joined from Travers Smith less than two years ago, in March 2021. Continue reading “Shearman and Travers hit with losses as recruitment turns to restructuring and leveraged finance”

Latham scores lead role in Man Utd’s potential sale as US outfits advise on Tom Ford deal

Latham scores lead role in Man Utd’s potential sale as US outfits advise on  Tom Ford deal

Latham & Watkins has had a busy November, picking up several multi-billion-dollar instructions across the sports, retail and telecoms sectors. Among the other firms securing lead roles are US peers Skadden, Paul Weiss and Orrick and Magic Circle competitors Linklaters and Allen & Overy (A&O).

Following Latham’s lead role in the £4.25bn acquisition of Chelsea FC earlier this year, the firm has been instructed by Manchester United as it pursues a potential sale.
Continue reading “Latham scores lead role in Man Utd’s potential sale as US outfits advise on Tom Ford deal”

In with the new: Big Law rings in the changes amid City leadership shake-up

In with the new: Big Law rings in the changes amid City leadership shake-up

For many law firms, the end of the year marks elections for various leadership positions. This year has been no exception, with DLA Piper, Osborne Clarke, TLT and Goodwin all voting in new management.

DLA has turned to IP litigator Ruth Hoy as its new office managing partner in London, taking over from London leadership stalwart Tom Heylen, who will move into the new role of UK client and sectors partner.
Continue reading “In with the new: Big Law rings in the changes amid City leadership shake-up”

HSF, Davis Polk and Eversheds act on Made.com collapse as market expects FTX fallout

HSF, Davis Polk and Eversheds act on Made.com collapse as market expects FTX fallout

Partners from Herbert Smith Freehills (HSF), Davis Polk and Eversheds Sutherland have secured advisory roles on the administration and £3.4m sale of online furniture retailer Made.com to Next.

In early November, Made.com filed notice of its intention to appoint administrators, advised by a HSF team led by London restructuring partner John Chetwood and including City corporate partners Ben Ward and Caroline Rae. Since the administration, 320 Made.com jobs have been axed as the company collapsed.
Continue reading “HSF, Davis Polk and Eversheds act on Made.com collapse as market expects FTX fallout”

Musk’s Twitter takeover sparks legal feeding frenzy, but leaves more questions than answers

Musk’s Twitter takeover sparks legal feeding frenzy, but leaves more questions than answers

Ask any City partner about the current state of the market, and they will point to a softening in the M&A market in line with the clouds gathering over the economy. It seems no one told Tesla and SpaceX owner Elon Musk, who recently completed a highly-publicised acquisition of social media giant Twitter. The initially hostile takeover pulled in some of the US’ premier law firms, but events since suggest that the legal proceedings may be only just beginning.

Musk’s headline-grabbing acquisition was completed in October. According to filings, the total payment was $44bn (£38.1bn), making the transaction one of the largest M&A deals of 2022. It also saw the company taken private, having previously been listed on the New York Stock Exchange.
Continue reading “Musk’s Twitter takeover sparks legal feeding frenzy, but leaves more questions than answers”

SRA defends year-long striking off process for Eversheds trainee convicted of sexual assault

SRA defends year-long striking off process for Eversheds trainee convicted  of sexual assault

After yet another galling sexual misconduct episode to blight the profession, the Solicitors Regulation Authority (SRA) has come out swinging after accusations it was slow to act.

In October 2021, former Eversheds Sutherland trainee Thomas Hagyard was jailed for eight years after being convicted of two counts of assault by penetration, and two counts of sexual assault. Hagyard had joined Eversheds only a month prior. Continue reading “SRA defends year-long striking off process for Eversheds trainee convicted of sexual assault”

Baker McKenzie breaks up UAE alliance following homophobic tweets

Baker McKenzie breaks up UAE alliance following homophobic tweets

Baker McKenzie in September announced that it is ‘parting ways’ with Dr Habib Al Mulla, name partner of member firm Habib Al Mulla & Partners, following a series of anti-gay Twitter comments.

Confirming that the ‘separation process is underway’, the firm said in a statement that it ‘strongly believes that however much we may disagree with the beliefs and personal views of others, we must find ways to disagree respectfully, encourage inclusive dialogue and to ensure an inclusive work environment for all.’ Continue reading “Baker McKenzie breaks up UAE alliance following homophobic tweets”

EU parliament eyes litigation funding regulation

EU parliament eyes litigation funding regulation

The EU is gearing up to regulate the third-party litigation funding market following an EU parliamentary vote in favour of the resolution.

The regulations are intended to increase transparency, fairness and proportionality in the market, which until now has escaped formal regulation. Among the proposals is a 40% cap on the percentage of a court award or settlement that funders can claim, requirement for disclosure of third-party financing and for court awards to be sent directly to claimants. Continue reading “EU parliament eyes litigation funding regulation”

Global 100 firms expand in Asia as Dentons and Goodwin establish new bases

Global 100 firms expand in Asia as Dentons and Goodwin establish new bases

Dentons has become the first global law firm to combine with a law firm in India, as it finalised its tie-up with full-service firm Link Legal in October.

Link Legal has five offices across India in Mumbai, Delhi, Bengaluru, Chennai and Hyderabad, as well as an existing New York office, which it launched in February 2022. It is ranked across nine practice areas in The Legal 500’s Asia-Pacific guide, with top-tier rankings in aviation and projects and energy. Continue reading “Global 100 firms expand in Asia as Dentons and Goodwin establish new bases”