Tom Moore argues profession must deal with changing attitudes on tax and reputation
The offshore market is being redrawn following the leak on 3 April of 11 million documents from Panama law firm Mossack Fonseca & Co, which led to a public outcry about tax evasion. The leak revealed some 12 world leaders, including close associates of Russian president Vladimir Putin and 143 politicians, used the firm to avoid tax in developed countries.
Herbert Smith Freehills (HSF) and Jones Day were among a raft of firms that advised the investors behind residential schemes at the Olympic Park in Stratford and Elephant and Castle on a joint venture (JV) to combine the developments and create a £1.4bn JV vehicle for rented housing. Amid a booming London real estate market, intensified by supply not keeping up with housing demand, the firms were instructed by Qatari Diar Real Estate Investment Company, property firm Delancey’s flagship fund DV4 and Dutch pension fund asset manager APG, combining to create 4,000 London homes. Olswang, Mishcon de Reya, Simmons & Simmons and London firm Michael Conn Goldsobel also won instructions on the deal.
Continue reading “HSF and Jones Day lead firms on £1.4bn London housing JV”
Freshfields Bruckhaus Deringer and Linklaters advised on Glencore’s $2.5bn sale last month of a 40% stake in Glencore Agricultural Products to Canada Pension Plan Investment Board (CPPIB).
Glencore instructed a Linklaters team led by corporate heavyweights David Avery-Gee and Charlie Jacobs, while Freshfields corporate partners David Higgins and Richard Thexton advised CPPIB. Freshfields’ Amsterdam managing partner Winfred Knibbeler also advised on the antitrust aspects of the deal.
Continue reading “Magic Circle take the lead as Glencore sells $2.5bn stake in agricultural arm”
US firm returns to King & Wood Mallesons to staff Paris offering
The first quarter of this year has proved slow for many private equity (PE) practices in Europe but this has not deterred Goodwin Procter from recruiting in France.
Continue reading “Mirror images: Goodwin expands in Europe to recreate London practice”
Last month DAC Beachcroft became one of a few firms to take advantage of the liberalisation of the Malaysian market as it applied to the country’s Bar council for a joint venture (JV) licence with Kuala Lumpur-based association firm Gan Partnership.
According to Gan Khong Aik, one of four partners at Gan Partnership, the two firms have been in a formal association for the last four or five years. The Malaysian practice, which specialises in corporate commercial, dispute resolution and intellectual property is hoping to expand its offering in reinsurance and insurance through formalising its relationship further with DAC.
Victoria Young talks to the long-serving Europe and Middle East managing partner
When Legal Business last profiled Squire Patton Boggs’ UK legacy firm Hammonds in 2005, the cover line was ‘Bad habits’ – profits had slumped, lock-ins had been introduced and outgoing partners were considering legal action. New managing partner Peter Crossley pledged to get his house in order.
FRESHFIELDS PLANS VANCOUVER HUB
After launching a nearshoring office in Manchester, Freshfields Bruckhaus Deringer is planning to open another outpost in Vancouver, Canada. The office is set to cover a range of business services roles. The firm is looking to hire at least 20 legal services employees to launch the office.
FORSTERS AND SLAUGHTERS LEAD ON TATA STEEL SELL OFF
Forsters and Slaughter and May acted on Greybull Capital’s rescue deal to buy Tata Steel’s European long products business, which includes the Scunthorpe steel works employing 3,500 people. Slaughters advised Tata, while Forsters acted for family office Greybull.
Continue reading “Deal watch: Corporate activity in April 2016”
My career couldn’t be better. Nice work, nice clients, good money… The culture of this firm lends itself to being an enjoyable place to work. We don’t have the bureaucracy or warfare other firms have.
I started at Clifford Turner. Matthew Layton was still in shorts. The head of commercial litigation in the early 1980s was a South African called Leon Boshoff – very tall, powerfully built… Behind that fearsome appearance he had a razor-sharp mind. One of the cases involved Lloyd’s of London. He took them on four square. He taught us to be fearless and not judge a situation by: ‘Well, this is a reputable institution, they can’t have done anything wrong.’ Drill down. Find the evidence. Form your own judgement.
Continue reading “Life During Law: Stephen Paget-Brown, Travers Smith”
Following its landmark combination with Dentons to create a 7,500-lawyer legal giant, legacy Dacheng is restructuring its practice to reduce the number of profit pools from 15 to five.
With Dentons striving to integrate what is now the world’s largest law firm by employee headcount, the China arm of the firm, headed by senior partner Jinquan Xiao, has carried out a reorganisation to create increased profit-sharing between the firm’s 44 Chinese offices.
Continue reading “Reform underway as Dentons shakes up profit-sharing arrangement in China”
