Outspoken, opinionated and often right, K&L Gates head Peter Kalis has made financial transparency his latest mission. Legal Business talks to the Rhodes Scholar who runs a $1bn firm yet still can’t fit into the US legal establishment ‘I was embarrassed to be in the same profession as Dewey & LeBoeuf,’ states Peter Kalis, not …
The ravages of the global recession and the European sovereign debt crisis have threatened to turn the long boom law firms have enjoyed into a painful bust. But Europe’s resilient full-service firms are weathering the storm, and many are finding that economic turmoil is bringing opportunities as well as challenges. In law’s long boom years, …
DWF is set to acquire Cobbetts in a pre-pack deal, after the struggling Manchester-based firm called in administrators KPMG last month. The top 40 UK firm announced its intentions to acquire Cobbetts almost a year after merger attempts by the two firms failed. At the time, a joint statement said talks had finished because of …
Continue reading “DWF looks to acquire a stricken Cobbetts in pre-pack deal”
With HMV, Jessops and Blockbuster all entering into administration in the first few weeks of 2013, leading City firms have scored significant instructions. Linklaters is involved in the administration of HMV, with restructuring and insolvency partners Richard Hodgson and Richard Bussell taking the lead. Linklaters had also been advising the lenders, The Royal Bank of …
Continue reading “Insolvency teams line up on high-profile failures”
Dundas & Wilson has confirmed the departure of three more partners from the firm’s London arm. Corporate partners Julian Mathews and Simon Sale, along with banking and finance partner Michael Wrigley, have decided to leave the Scots leader, which has faced a difficult few years by any yardstick. These moves, which were confirmed in February, …
Continue reading “Dundas departures reflect pressure on Scots firms”
Liberty Global’s $23.3bn acquisition of Virgin Media and Dell’s proposed $24.4bn leveraged buyout have deal finance advisers asking whether this is a signal that leveraged buyout deals are making a comeback. The pair of mega deals were announced last month within weeks of each other and have handed roles to a raft of advisers on …
Continue reading “Leverage starts to resurface in dormant market”
Herbert Smith Freehills (HSF) has been hit by a string of key departures from its lucrative disputes practice. Simon Bushell, who co-chaired the corporate fraud and asset tracing group at HSF, is set to join Latham & Watkins’ City office imminently. His departure marks the fourth high-profile litigation exit since the start of the year …
Continue reading “HSF sees more City departures but secures German launch”
Freshfields Bruckhaus Deringer is launching a scholarship with the Stephen Lawrence Charitable Trust (SLCT) to help students from black and ethnic minorities gain access to the profession, in the latest of a string of diversity initiatives in law. The scholarship will allow four successful male candidates committed to pursuing a career in the legal profession …
The ongoing battle over what was to become of Russian oil joint venture (JV) TNK-BP finally concluded at the end of 2012, in one of the largest M&A deals of the year. Skadden, Arps, Slate, Meagher & Flom, Cleary Gottlieb Steen & Hamilton and Linklaters all played lead roles on TNK-BP’s multibillion-dollar sale to Russian …
Continue reading “TNK-BP takeover saga ends in largest Russian deal ever”
With the Financial Services Authority (FSA) issuing a record £300m of total fines in the UK in 2012, up from £65.5m in 2011, litigation teams in the City are predicting a further surge in banking litigation in 2013 thanks to the Libor scandal. Barclays’ fine of £59.9m in June was dwarfed by UBS’ £160m fine …
Continue reading “No let up for Libor claims as FSA issues record fines”
