Clyde & Co advises Olswang on claim arising from £460m Esporta sale

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Clyde & Co’s professional financial disputes team led by rated team head Sarah Clover is advising Olswang on a multi-million pound claim stemming from the £460m acquisition by a Halabi family trust of fitness club chain Esporta from private equity firm Duke Street Capital. Olswang in 2006 fielded a cross-disciplinary team to advise the Ironzar III trust on the high-profile acquisition, …

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Two birds, one stone – A&O finance veterans joins Co-op team as GC as firm acts on rescue

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Securing a major deal and having one of your partners take a senior role with the same client is a nice trick to pull off but Allen & Overy (A&O) appears to have managed that this week after securing a lead role on the Co-op’s rescue plan and ‘donating’ a veteran partner to the lender’s …

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Clyde & Co continues to reap benefits of Barlows merger with 17% hike in revenue

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Clyde & Co has posted a 17% hike in turnover for 2012-13 as the firm continues to reap the benefits of its 2011 merger with Barlow Lyde & Gilbert. The insurance focussed firm’s revenues have increased from £287m in 2012 to £336.6m in 2013, amidst a sluggish prevailing European economy. According to chief executive Peter …

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CC bumps starting pay to £63,500 with bonuses giving junior associates chance to earn over £100,000

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Despite generally gloomy market conditions there were renewed signs of underlying confidence at top London firms with Clifford Chance (CC) joining its peers today (4 June) in announcing rises in associate and trainee pay and bonuses for the year ahead. The firm is the last of the Magic Circle to announce pay changes across the board, …

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Global Expansion: Bingham continues recruitment drive with hire of HSF London funds partner

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Bingham McCutchen has expanded its transatlantic offering to European fund managers with the hire of Herbert Smith Freehills (HSF) rated partner Thiha Tun, only weeks after seven White & Case funds lawyers joined in Tokyo. Tun, who works with private equity, real estate, infrastructure and hedge funds, will join Bingham’s investment management practice in September, …

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Kennedys seals tie-up with Gates and Partners in aviation sector shake up

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International dispute resolution law firm Kennedys and rated aviation and aerospace outfit Gates and Partners have merged in a move designed to achieve ‘an even greater international platform’ and strengthen their offering to global insurance and reinsurance clients. The merger, which went live on 1 June, will enable Kennedy’s to offer comprehensive legal support to …

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Magic Circle unveils new pay levels

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Four of the five Magic Circle firms have now revealed their decisions on newly qualified (NQ) and trainee salaries, with decisions pending from the remainder of the top ten City firms. Freshfields Bruckhaus Deringer so far tops the table for NQs, despite its decision to freeze pay for its career milestone foundation. Junior-banded associates – equivalent …

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Cinven gifts Freshfields with IPO while HSF defends Severn Trent

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A handful of major corporate mandates were unveiled last month as private equity house Cinven kicked off its £1.4bn proposed initial public offering (IPO) of annuity provider Partnership Assurance Group and Severn Trent rejected a preliminary takeover offer by an international consortium. Amid signs of renewed confidence in the IPO market, Cinven instructed Freshfields Bruckhaus …

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Few are chosen – is partnership still worth the contest?

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Partnership prospects continue to decline in a gloomy economy, while UK law firms are increasingly promoting abroad or associates hired from other firms. Legal Business investigates whether the odds of making partner make it still worth the contest When a trainee joins a firm, aspirations are high and the road to success is inviting. The …

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Forward thinking: Ashurst appoints independent non-execs to its board

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Ashurst has taken the unusual step of appointing two high level non-executive directors to its board as the firm beds down its merger with Australia’s Blake Dawson and seeks experienced counsel on its strategic direction and corporate governance. Former director general of The Takeover Panel Robert Gillespie will join the board of Ashurst with immediate …

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