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  • March 20, 2008 |

    Advisers scramble as credit turmoil claims Carlyle fund and Bear Stearns

    Finance lawyers are scrambling to position themselves globally after renewed turmoil in credit markets led to the collapse of two hedge funds in Europe and the fire-sale of Wall Street giant Bear Stearns.First to secure lead roles were Skadden Arps Slate Meagher & Flom and Linklaters as Carlyle Capital Corporation announced its liquidation after defaulting on debts of $16bn (£7.8bn).

    1 minute read

  • March 20, 2008 |

    Dechert loses competition partner as Watson quits for telecoms focus

    Dechert competition partner Chris Watson has left the firm's City office after just two years, it has emerged.Watson, who joined the US firm's London competition team in March 2006 from Allen & Overy (A&O), officially withdrew from Dechert's partnership on 29 February.

    1 minute read

  • March 20, 2008 |

    Dechert appoints ex-ICC lawyer as of counsel

    Dechert has hired former ICC International Court of Arbitration secretary general Anne Marie Whitesell to its US arbitration practice. Whitesell is due to join the firm as of counsel next month - joining in Paris before moving to Washington DC. She will help develop the firm's US arbitration team, headed by partners Robert Heim, Robert Cohen and Daniel Malone. Whitesell held her ICC role from 2001 until 2007.

    1 minute read

  • March 18, 2008 |

    JP Morgan sets aside $6bn to combat Bear Stearns claims as Wachtell secures trophy mandate

    JP Morgan Chase is setting aside $6bn (£2.9bn) to cover potential litigation as it agrees to buy stricken Wall Street giant Bear Stearns for just $240m (£119m). Following the announcement on 16 March that it is buying the bank for a fraction of its previous value, JP Morgan said it is estimating the cost of the transaction at around $6bn - taking into account the potential of litigation stemming from the drop in Bear Stearn's stock value and severance costs.

    1 minute read

  • March 5, 2008 |

    The art of retention

    The day Walfrido Martinez joined Hunton & Williams to open the firm's Miami office in 1999, all he had to do was show up and start working. The firm had in place a receptionist, a head of office services and secretaries ready for him and the four colleagues who moved with him from Holland & Knight. A group of associates had already been flown in from other Hunton offices to work on their matters. The prep work paid off. In his first month Martinez billed 200 hours. "You can't do that if you don't have the resources in line," says Martinez. He hasn't forgotten that early lesson. Now Hunton's firm-wide managing partner, Martinez has tried to continue-and extend Hunton's lateral integration programme. So far, it seems to be working. Of the 28 lateral partners the firm hired in 2005, 25 are still there.

    1 minute read

  • March 5, 2008 |

    ...Legal Week Lunchbox 5/03/08...

    The five most popular articles on legalweek.com today; plus the pick of the day's posts; Alex Novarese on McKeeve leaving Kirkland; and more

    1 minute read

  • March 4, 2008 |

    ...Legal Week Lunchbox 4/03/08...

    The five most popular articles on legalweek.com today, the pick of the day's posts; and Bar chairman Timothy Dutton QC talks to Legal Village's Mike Semple Piggot

    1 minute read

  • March 3, 2008 |

    Dechert hands lay-off notices to unlucky 13

    Dechert has became the latest US firm to tighten its belt after issuing lay-off notices to 13 associates in its finance and real estate (FRE) practice, writes the Legal Intelligencer. Shortly after the firm confirmed the planned lay-offs, Dechert chairman Barton Winokur issued a statement on Friday (29 February) saying the firm would then offer the 13 associates positions in other practice groups.

    1 minute read

  • March 2, 2008 |

    ...Legal Week Lunchbox 3/03/08...

    The five most popular articles on legalweek.com today, plus the pick of the day's posts; a new Career Clinic dilemma; and more

    1 minute read

  • February 14, 2008 |

    US quartet post healthy revenue rises for 2007

    US firms Sidley Austin, Nixon Peabody, Dechert and King & Spalding have all posted positive results for 2007.Top 10 firm Sidley Austin announced an 11% increase in revenues to reach $1.39bn (£709m) compared to $1.25bn (£638m) in 2006, while profits per equity partner (PEP) grew by 5.7% from $1.31m (£667,000) to $1.38m (£704,000).

    1 minute read