MAGIC CIRCLE DUO SERVE UP QUORN DEAL
Linklaters and Allen & Overy (A&O) took lead roles as the private equity owners of meat-substitute Quorn disposed of the business to a Filipino noodle maker. Linklaters advised Monde Nissin, which bought Quorn for £550m, while Quorn’s owners Exponent Private Equity and Intermediate Capital Group were advised by A&O.
Victoria Young reports on the diverse mix of law firms looking to take advantage as finance meets technology
UK Economic Secretary Harriett Baldwin isn’t holding back on the government’s ambitions for the fintech industry in the UK.
‘We are already a major player in financial technology; our ambition is now to be the major player – the leading fintech centre in the world,’ she recently said, ahead of announcing reviews of so-called ‘robo-advisers’ – online wealth management services.
The legal market has become more competitive. One way of measuring yourself is profit share. For some partners, the size of this share is very important. When I started getting offers, I realised money wasn’t something that motivated me. Other factors were much stronger.
I started out with a managing clerk – he was a bad influence in terms of litigation because he was at a stage where he couldn’t be bothered with the detail, but he was fantastic. He was the firm’s troubleshooter. Whenever the client had a problem – if there was fraud in the factory or somebody was stealing – he was the guy that got called in. He was like something out of a 1970s police programme. He was my first influence.
Morley and Dejonghe near end of terms as Magic Circle management shuffle continues
It will be the end of an era at Allen & Overy (A&O) come May 2016 when senior partner David Morley and global managing partner Wim Dejonghe step down from their current leadership roles, with Morley retiring from the firm after 36 years.
Continue reading “Allen & Overy gears up to replace its C-suite as Morley to retire in 2016”
Litigators at the London arms of Debevoise & Plimpton and Reed Smith have been drafted in on a €578m (£418m) professional negligence claim brought by British American Tobacco (BAT) against Big Four accountancy firm PwC.
BAT has instructed Kevin Lloyd, a partner at Debevoise & Plimpton, to bring the claim against PwC in the Chancery Division of the English High Court. The legal action stems from PwC’s audit of paper maker Windward Prospects, a company with which BAT has a long-running dispute over the cost of cleaning up a polluted river in Wisconsin. BAT alleges PwC failed to fully account for clean-up costs of the polluted river in its audit of Windward.
Continue reading “Debevoise and Reed Smith face off as BAT launches €578m claim against PwC”
The demise of 11 Stone Buildings (11SB) has led to a feeding frenzy as rival chambers begin to swoop on barristers from the commercial and chancery set.
Since 11SB announced it would close at the end of this month, it has emerged that Wilberforce Chambers and Radcliffe Chambers are to take on teams comprising 11SB’s most senior silks.
Gibson, Dunn & Crutcher’s appointment of Herbert Smith Freehills’ (HSF’s) capital markets duo Steve Thierbach and Chris Haynes is an important step in building the firm’s English law transactional capability.
Thierbach, who was HSF’s global markets chief, is one of the City’s most established capital markets lawyers. His hire, along with corporate partner Haynes, comes as part of Gibson Dunn’s wider corporate play in London.
Continue reading “Gibson Dunn swoop for HSF capital markets duo boosts English law capability”
Disputes practitioners contend another hike will deter foreign litigants
City lawyers have voiced concerns over government policy once again as submissions closed this month on the latest round of court fee hikes proposed by justice minister Shailesh Vara.
Continue reading “Concerns raised as consultation closes on court fee hikes”
Simpson & Marwick merger signed as firm eyes 2016 Miami launch
After months of negotiations, Clyde & Co successfully secured a merger with Scottish firm Simpson & Marwick last month, following other London-based insurance players in establishing a presence in Scotland and adding £30m to the Global 100 firm’s top line.
Continue reading “Vaulting ambition: Clydes expands with Scottish tie-up”
Victoria Young assesses legal education sector in wake of Kaplan exit and ULaw sale
With news breaking recently that Kaplan Law School is to close its doors in 2016, a contest between BPP University and The University of Law (ULaw) broke out in September as both institutions grappled for increased market share.
