Clifford Chance has won the first round of a multi-million pound dispute between the owners of Blackpool FC.
The matter was featured as one of The Lawyer’s Top 20 cases for 2017, with its legal fees already nearing the £1.5m mark.
The case was brought by Blackpool FC club president and Latvian millionaire Valeri Belokon, who claims that when the club was promoted to the Premier League, the majority owners (the Oyston family) took tens of millions of pounds ou
- Insurance firm set to make more redundancies after layoffs in Leeds and Manchester last year
- Reed Smith has seen its global revenue fall 4 per cent from $1.23bn to $1.1bn amid a reduction in lawyer headcount of over 80 in 2016.
The revenue decline is the second consecutive drop for Reed Smith, which last year reported a dip in turnover of 2.5 per cent. Reed Smith’s revenue in 2016 is now at the same level as it was in 2014, when the firm grew from $1.075bn to $1.15bn (£746m).
The firm’s PEP meanwhile stayed static last year at $1.1m, following a dramatic 8 per cent dec
- Partner profits creep up as US firm looks to capitalise on big KWM team hire
- Transatlantic firm fails to convert top-line growth into PEP gains
- Hogan Lovells reported revenue growth of 6 per cent over 2016, with average profit per equity partner (PEP) remaining flat.
The firm’s turnover increased from $1.8bn to $1.9bn globally, equivalent to nearly 6 per cent growth.
Hogan Lovells confirmed that if exchange rates had remained constant, it would have seen a revenue increase of 8 per cent.
The firm’s London office added nearly £20m to the top line, growing from £263m to £282m. A significant revenue booster wa
- Shearman also advises as Chinese energy firms take stakes in state-owned Abu Dhabi oil company
- Schoenherr has advised publicly traded, global sugar, starch and fruit processor AGRANA Beteiligungs–Aktiengesellschaft as issuer on its successful rights offering of 1,420,204 new shares, combined with a secondary offering of 500,000 existing AGRANA shares held by Südzucker AG, one of AGRANA’s core shareholders.
This is the first equity capital market transaction in the Austrian market in 2017, and the first deal of its kind in Austria following the entry into force of the
- Lawyers move over to CMS ahead of May tie-up as talks over Munich base continue
- Yelyubayev Zhumageldy Sakenovich, managing legal counsel of Eurasia Business Unit of Chevron Corporation, professor of the Al-Farabi Kazakh National University, and president of Kazakhstan Petroleum Lawyers Association (KPLA), led Unicase’s business-breakfast event on subsoil use in Kazakhstan.
His practical expertise and interesting analysis of the sector legislation captured the interest of the audience and led to vivid discussions of the current issues of the law on
- Richard Alomo of No5 acted for the Appellant father who was successful in setting aside an open ended passport order made by Roderic Wood J at the conclusion of related care proceedings.
In granting permission to appeal, Mcfarlane LJ commented that:
“The proposed appeal … raises important points of principle and jurisdiction … [and] concerns an issue (namely the making of an open-ended passport order at the conclusion of proceedings) which is a matter of importance and about
- Olswang has confirmed that its offices in Madrid, Brussels and Paris will close ahead of its merger with CMS Cameron McKenna and Nabarro.
There had been much speculation over Olswang’s European operations, with many of its offices overlapping with CMS’ geographic spread.
The Lawyer revealed that Olswang’s Paris office had been shut out of merger negotiations, with the team expected to disband.
The fate of Olswang’s Munich office is still unknown, with both Cooley and Fiel
- Andriy Nikiforov, Counsel and head of the banking, finance & capital markets practice at Kinstellar’s Kyiv office, spoke at the third Legal Banking Forum in Kyiv — a major national platform for Ukrainian lawyers specialising in banking and finance.
The Forum was a full-day event focusing on the latest changes in and prospects for Ukraine’s banking sector. Among attendees were senior officers of the National Bank of Ukraine and the Individual Deposits Guarantee Fund of Ukrai
- The Manchester office of Gateley Plc has advised leading technical infrastructure specialist Sudlows on the acquisition of Progressive Network Solutions, a provider of technical installation services across the UK.
A cross-discipline team, led by Corporate partner Charles Glaskie advised on the deal. The team included Employment senior associate Fran Read, Tax legal director Richard Clitherow and Corporate solicitor Michael Rock. The Corporate Finance team at CLB Coopers, with Simon Carrut
- Walker Morris continues to reinforce its specialist expertise in commercial law with the appointment of senior associate, Richard Butterworth.
Prior to joining Walker Morris, Richard worked at the Competition and Markets Authority (CMA) and its predecessor, the Office of Fair Trading.
The post Commercial law boost at Walker Morris appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.
- MIPIM, the world’s largest real estate event for property professionals, takes place from 14–17 March in Cannes, with over 23,000 participants from 90 countries attending. Arthur Cox partners, Deirdre Barrett, Simon Hannigan, David Molloy and Brian O’Rourke will all be attending the event which features over 350 expert property keynotes and speakers.
If you are attending MIPIM and would like to make an appointment to meet our team, please get in touch.
The post Arthur Cox
- The Supreme Court has handed down its judgment in Bloor Homes (Wilmslow) Ltd v HCA.
This case is about the planning status of land, the scheme for which it is acquired under a CPO and the disregard of increases and decreases in value arising from that scheme. The Supreme Court upheld the Upper Tribunal’s decision in favour of Bloor Homes, reversing the Court of Appeal’s judgment.
Martin Kingston QC and Richard Kimblin QC appeared for Bloor Homes in the Upper Tribunal, the
- The “hardship fund” initiative launched by three King & Wood Mallesons partners to help staff affected by the firm’s EUME failure has met with a positive response, The Lawyer has learned.
Former King & Wood Mallesons EUME managing partner Tim Bednall and two KWM London partners have launched plans to set up a fund aimed at providing financial support to former staff affected by the collapse of legacy SJ Berwin.
The initiative is calling for former partners to donate gen
- This week systemic coach Zita Tulyahikayo and barrister James Pereira QC discuss the difference between healthy and unhealthy firms, and what signs to look out for.Many lawyers have experienced the frustration of working in a firm where rivalry between individuals, teams or departments has undermined the performance of the firm as a whole.
When a firm’s employees work merely alongside each other, rather than working with each other, the effect can cause tremendous damage at best, at worst
- Latham & Watkins’ average profit per equity partner (PEP) has surpassed the $3m mark for the first time.
The PEP increase of 5 per cent from $2.91m to $3.1m means Latham has now joined an elite group of firms with PEP in excess of $3m.
According to The Lawyer’s Global 200 report, 11 other firms such as Kirkland & Ellis, Cleary Gottlieb Steen & Hamilton and Sullivan & Cromwell all have a PEP figure above $3m.
Global turnover grew by a similar percentage of 6.5 per cent
- US firm reports record results as revenues approach $3bn mark
- Uber has hired Covington & Burling to investigate allegations of sexual harassment within its business.
A blog post published by former employee Susan Fowler on 19 February gained widespread media attention over the weekend.
In it, Fowler describes her experience as a site reliability engineer at Uber, during which time she alleges that she was harassed by a senior member of staff. When she took her concerns to HR, no action was taken.
“Upper management told me that
- Bank's financial report reveals decrease in 'settlements and provisions in connection with legal matters'
- Khaitan & Co advised Mumbai Metropolitan Region Development Authority (MMRDA) in relation to the tender for implementation of Surya Regional Bulk Water Supply Scheme on Design, Build, Maintain, Operate and Transfer (DBMOT) basis, being implemented for Mira-Bhayander Municipal Corporation and Vasai Virar City Municipal Corporation at a project cost of over INR1,600 Crores.
Mumbai Metropolitan Region Development Authority is a body of the Government of Maharashtra that is responsible for the i
- Serjeants’ Inn has announced that Angus Moon QC and John Beggs QC were unanimously re-elected joint heads of chambers at a chambers meeting yesterday.
The post Serjeants’ Inn re-elects heads of chambers appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.
- Santhera Pharmaceuticals Holding Ltd has successfully placed CHF60m 5% convertible bonds due 2022. The convertible bonds will mature on 17 February 2022 at 100% of their principal amount unless previously redeemed, converted or repurchased and cancelled.
The terms of the convertible bonds provide for a reset of the conversion price if the average share price during a period immediately prior to the first anniversary of the issue date falls below a reference share price. Bank am Bellevue AG and K
- The Sheriffs Office have opened an office in Fetter Lane, London, to provide it with easy access to the High Court and also to be close to many of its London-based legal clients.
The address is:
The Sheriffs Office
1 Fetter Lane
London EC4A 1BR
The contact number is still 0333 001 5100.
The post Sheriffs Office opens new London office appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.
- James Badcock quoted in Accountancy AgeHMRC’s Counter Avoidance Directorate collected £92m in unpaid Stamp Duty Land Tax in the year 2015-16, down from £301.2m in the previous year, showing that the Government’s strategy has been successful in reducing SDLT avoidance opportunities.
James Badcock notes that the government has closed many of the loopholes which have previously allowed avoidance to take place. He also suggests that it could reflect a change in taxpayers&rsqu
- The private view for the Exceptional Graduate Show was a great success with around 450 guests coming through the doors of Collyer Bristow. They were coming to see up and coming talent from three of London’s top art schools, Goldsmiths, Middlesex University and City & Guilds of London Art School, which Exceptional showcases.
The Collyer Bristow Graduate award of £2,000 was won by Emmanuelle Loiselle, a 2016 graduate of City & Guilds Art School, for her work ‘Bonne Maman&
Clifford Chance uses lockstep 'super points' to reward top performers as offices face profit share cutsFirm goes above lockstep in London and New York with multiple partners also moved down
- Allen & Overy (A&O) has continued to grow its US finance practice with the hire of a three-partner team from Paul Hastings.
The magic circle firm made headlines last year as it broke lockstep for the first time through the recruitment of four finance partners from White & Case and Proskauer Rose.
The new hires from Paul Hastings expand A&O’s leveraged finance capabilities in New York and take partner numbers to 12.
The team is led by Paul Hastings former head of levera
- TGI Group International organised the 2nd Serbian Property & Infrastructure Development Conference in Belgrade under the auspices of the Chamber of Commerce and Industry of Serbia, the Embassy of Canada and the Embassy of Israel. Once again, the conference brought together state officials, legal and financial experts and professional stakeholders.
Foreign participants shared their experiences on the relevant topics and discussed the implementation of best solutions in Serbia.
- Holman Fenwick Willan was the most active firm in the Commercial Court in 2016, according to The Lawyer Court Rankings 2016.
The firm spent 48 days in the court last year, while Stephenson Harwood and boutique firm Byrne & Partners both spent 32 days.
Holman Fenwick takes the top place with 12 occasions. In its longest case, lasting 11 days, it represented Credit Suisse in a diesel sale contractual dispute with Euro-Asian Oil. In addition, the firm also advised Bangladesh private sector
- Aviva attracted national attention last weekend when it revealed it had threatened to terminate contracts with suppliers that fail to promote women to senior roles.
Sarah Morris, chief people officer at the insurer, told the Sunday Times that publicly backing women’s initiatives would give the company a “competitive edge”.
The warning contained in the letter – sent to a number of subcontractors including recruitment firms, catering suppliers and specia
- US firm posts 3.4% revenue rise alongside 3.1% PEP increase
- Magic circle firm ramps up New York office with trio of finance hires
- Magic circle firm continues New York push with trio of finance hires
- US firm recruits four-lawyer magic circle team
- Shearman & Sterling’s London office has boosted its revenue 14 per cent over 2016 to $169.7m.
The rise in the City is reflected globally, with the firm increasing its turnover by 6 per cent from $860.3m to $912m.
At the end of 2015, Shearman reported City revenue of $148.6m after modest growth of 3 per cent. Its 2015 global results were understood to have missed their revenue target by around $50m.
Firmwide profit per equity partner grew 18 per cent to $2.2m, having fallen to
- This article was contributed by Euclid Law founding partner Oliver Bretz and Edge Legal founding partner Damien Geradin. The two boutique firms merged in February 2017 under the banner Euclid Law
There is something strange happening in the legal market. A new breed of law firm is emerging – not the traditional geared partnership structure but a small agile animal that is highly specialised in its feeding habits: the boutique law firm. Unlike the traditional full service model, boutique fir
- Freshfields Bruckhaus Deringer has lost its entire Paris real estate capability, as real estate head Erwan Le Douce-Bercot leaves for Jones Day along with a three-lawyer team.
The new arrivals come as Freshfields looks set to take on an Ashurst private equity team in Paris consisting of five partners.
Freshfields saw a number of exits in Paris last year, losing four partners to US firm Orrrick Herrington & Sutcliffe over the summer.
The quartet who left for Orrick’s French ar
- US posts 6% revenue rise as equity cuts bolster partner profits
- Former partners asked to help support staff made redundant by firm's collapse
- US firm's London, Dubai and Moscow lawyers to merge with local Norton Rose counterparts
- Two partners from DLA Piper’s pension team are joining boutique firm ARC Pensions as it launches its first office outside London.
ARC currently has one office in London, with the new recruits tasked with opening the boutique’s first base outside the capital in Leeds.DLA Piper partner duo Kate Payne and Vikki Massarano will head the new five-lawyer office in the city.
Payne has worked in pensions for over 25 years providing strategic advice to trustees and employers in relation t
- Quinn Emanuel Urquhart & Sullivan’s London office saw revenue growth of 22 per cent over 2016 to £44.8m.
The firm has been in growth mode in London, hiring Macfarlanes head of financial services David Berman, Herbert Smith Freehills construction disputes partner James Bremen and Addleshaw Goddard civil fraud head Mark Hastings.
Total turnover in the City rose 22 per cent from £36.8m to £44.8m. Profits meanwhile increased 21 per cent from £27.
- Firm gears up for senior partner election as it sets out ambitious growth targets expected to see partner count climb by a third
- Khaitan & Co advised Stellar Value Chain Solutions Private Limited in relation to the acquisition of majority stake, with an option to acquire the remaining stake, in Kelvin Cold Chain Logistics Private Limited.
Stellar Value Chain Solutions Private Limited offers third-party logistics services. The company was incorporated in 2016 and is based in Mumbai.
The core transaction team included Siddharth Shah (partner), Deepak Jodhani (principal associate), Nayantara Kutty (senior associate), Nid
- The Environmental Industries Commission (EIC), the national body that represents businesses which provide the technology and services that deliver environmental performance – has called for a national debate on setting ambitious but realistic recycling targets for 2025 to provide a framework for the resources sector post-Brexit.
The call comes in a briefing paper published by EIC, with legal advice from B P Collins, on the implications of Brexit for waste regulations and the
- No5’s employment barrister Nabila Malick featured in a BBC Asian Network Radio programme on 17 February 2017 to discuss whether candidates with foreign-sounding names should change their name to get an interview.
Please click here to listen
The post No5 barrister discusses how foreign sounding names hinder employment on BBC Radio appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.
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