Looking stateside again: BLP in ‘surprising’ merger talks with Bryan Cave

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Looking stateside again: BLP in ‘surprising’ merger talks with Bryan Cave

‘Surprising’ was the adjective frequently deployed by City partners in October when merger talks between Berwin Leighton Paisner (BLP) and US firm Bryan Cave were unveiled, with BLP going back to the US market 19 months after its attempts to tie up with Greenberg Traurig ended brutally.

The new candidate for a transatlantic union is closer in size and profitability to BLP compared to Greenberg and the union would create a 1,700-lawyer entity with 32 offices in 12 countries.

Continue reading “Looking stateside again: BLP in ‘surprising’ merger talks with Bryan Cave”

‘Selling the crown jewels’ – Gateley partners in £10m share sale

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‘Selling the crown jewels’ – Gateley partners in £10m share sale

Following Gateley’s landmark listing in 2015 where partners pocketed a combined £25m, some senior partners have taken home almost £500,000 each after a stake in the top 50 UK law firm was sold for nearly £10m in October.

Documents at the London Stock Exchange (LSE) show a sale of 6.21% of the firm’s equity due to a ‘strong demand from new institutional shareholders’.

Continue reading “‘Selling the crown jewels’ – Gateley partners in £10m share sale”

Watchstone Group files defence as war of words with S&G over Quindell continues

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Watchstone Group files defence as war of words with S&G over Quindell continues

The ongoing Slater and Gordon (S&G) saga shows no sign of abating, as the Watchstone Group (formerly Quindell) in October denied fraudulently misrepresenting itself over the sale of its professional services arm to the beleaguered law firm.

The £637m buyout in May 2015 proved to be the beginning of a downward spiral for S&G as, following the deal’s completion, the Serious Fraud Office launched a probe into Quindell’s accounting practices. As a result, S&G’s shares tumbled. Continue reading “Watchstone Group files defence as war of words with S&G over Quindell continues”

As Nextlaw swells, will Dentons’ platform mark the end of referral clubs… or something bolder?

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As Nextlaw swells, will Dentons’ platform mark the end of referral clubs… or something bolder?

Marco Cillario assesses whether Nextlaw is a network or Dentonsʼ Uber

With typical distaste for the status quo, Dentons chair Joe Andrew last year described the launch of Nextlaw Global Referral Network as the beginning of the end for traditional law firm networks. The new platform, conceived and paid for by Dentons, differed from other networks in not charging membership fees and being open to any number of members globally. Continue reading “As Nextlaw swells, will Dentons’ platform mark the end of referral clubs… or something bolder?”

‘Good people are expensive’: Simmons to launch in Dublin through local hire

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‘Good people are expensive’: Simmons to launch in Dublin through local hire

As speculation continues in the Irish market as to which international law firm will be the next to come knocking on the door of local partners, Simmons & Simmons has confirmed plans to launch in Dublin with a lateral hire from Mason Hayes & Curran (MHC).

Simmons, which had long been rumoured to be considering a launch in the city, has hired MHC’s head of investment funds and financial regulation Fionán Breathnach. The firm will focus on asset management initially, a core practice area for Simmons, with plans to expand further into the financial institutions sector with more local hires. Continue reading “‘Good people are expensive’: Simmons to launch in Dublin through local hire”

The Legal 500 view: we are changing to reflect the needs of in-house UK

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Alexander Boyes and Hayley Eustace review the latest launch of the UK edition

The 2017 edition of The Legal 500 is our biggest yet, for a number of reasons. The demand for ʻlegal directoriesʼ has increased in the past few years, due in part to more movement in the market, firms getting smarter at marketing, clients having less time, globalisation – which all leads to a need for independent third-party review. Continue reading “The Legal 500 view: we are changing to reflect the needs of in-house UK”

NYLon focus continues as Kirkland and White & Case announce promotion rounds

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NYLon focus continues as Kirkland and White & Case announce promotion rounds

Elite US firms ramped up their London partner headcounts in October, with Kirkland & Ellis making up a record 97 new partners – equal to more than 10% of its existing partnership – 13 of them in its fast-growing London base, while White & Case’s more modest 31 included seven in its City arm.

The number of London promotions at Kirkland more than doubled last year’s round and its total tally is up on last year’s 81. The 2,000-lawyer US firm has an unusual model in that it makes up large ranks of salaried partners before considering promotions to its tightly-held equity, which at the end of 2016 totalled 359 of its 820 partners. Continue reading “NYLon focus continues as Kirkland and White & Case announce promotion rounds”

Litigators warn of impact on clients as ENRC wins right to appeal controversial privilege decision

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Litigators warn of impact on clients as ENRC wins right to appeal controversial privilege decision

Legal professional privilege (LPP) was thrown a lifeline last month, when mining giant Eurasian Natural Resources Corporation (ENRC) was granted the right to appeal against a controversial order to disclose documents in a Serious Fraud Office (SFO) investigation.

ENRC has been the subject of a long-running investigation by the SFO relating to alleged fraud, bribery and corruption. In May, the High Court ruled that certain documents prepared by ENRC in relation to the probe were not covered by LPP and therefore had to be disclosed. Continue reading “Litigators warn of impact on clients as ENRC wins right to appeal controversial privilege decision”

Autumn dealwatch: Euro mega deals keep Magic Circle busy

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Autumn dealwatch: Euro mega deals keep Magic Circle busy

Freshfields and K&E act on Monarch administration

Freshfields Bruckhaus Deringer’s restructuring chief Ken Baird and finance partner Catherine Balmond led the team advising KPMG as Monarch Airlines filed for administration. Kirkland & Ellis and Reed Smith advised the Civil Aviation Authority (CAA), while Stephenson Harwood acted for the Pension Protection Fund. Continue reading “Autumn dealwatch: Euro mega deals keep Magic Circle busy”