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  • September 24, 2010 |

    Brazil Bar rules against associations with foreign law firms

    International law firms with Brazilian alliances look set to come under renewed regulatory pressure after the Sao Paulo Bar Association this month concluded that formal tie-ups breach local practice rules. The recent opinion from the Sao Paulo Bar (Ordem dos Advogados do Brasil - Secao de Sao Paulo) illustrates the mounting tension over the recent influx of foreign law firms into Brazil's fast-growing market. Though the decision by the ethical and disciplinary tribunal of the Sao Paulo Bar is only advisory, it is regarded as giving an indication as to which way a ruling would go if a case were to be pursued against one of the foreign firms operating in Brazil in alliance with a local firm.

    1 minute read

  • September 22, 2010 |

    Latin America: Tomorrow's country today

    From the dark days of the 1980s, a newly-confident Brazil has emerged. Alex Aldridge reports on one of the most hotly-tipped emerging economies and the lawyers scrambling to keep up

    1 minute read

  • September 17, 2010 |

    Freshfields and Cleary take top roles on €9.8bn Deutsche deal

    Freshfields Bruckhaus Deringer and Cleary Gottlieb Steen & Hamilton have won lead roles on Deutsche Bank's plans to raise €9.8bn (£8.1bn) to bolster its balance sheet and complete its proposed takeover of Deutsche Postbank. The bank has instructed Cleary to advise on the capital raising, with Frankfurt-based capital markets partner Ward Greenberg and securities partner Hanno Sperlich leading the team.

    1 minute read

  • September 6, 2010 |

    Cleary takes top role for Brazilian oil firm on record $75bn share offering

    Cleary Gottlieb Steen & Hamilton is advising Brazilian oil and gas giant Petrobras on its plan to raise nearly $75bn (£49bn) in the world's largest-ever share sale, reports The Am Law Daily. The US firm is acting as issuer's counsel on the sale, which will finance investments in developing offshore oil fields.

    1 minute read

  • August 18, 2010 |

    Herbert Smith and A&O advise on billion-dollar Gazprom financing

    Herbert Smith and Allen & Overy (A&O) have taken lead roles on a major Russian finance deal which has seen Gazprom Neft secure loans of up to $1.5bn (£963m). The oil unit of Russia energy giant Gazprom has lined up financing of $1.35m (£866m) so far, a figure which could rise to $1.5bn if more lenders are signed up. Herbert Smith is advising Gazprom Neft with a team led by Moscow-based energy finance partner Ed Baring.

    1 minute read

  • August 18, 2010 |

    Slaughters, A&O act on BHP's $40bn hostile bid for world's largest fertiliser company

    Jones Day and Cleary Gottlieb Steen & Hamilton have secured lead roles on BHP Billiton's $40bn (£25.6bn) hostile bid for the Potash Corporation of Saskatchewan, writes the Am Law Daily. Potash rejected the mining giant's unsolicited offer on Tuesday (17 August), with BHP today (18 August) confirming a hostile bid at $130 (£83) a share for the Canadian-based company, which is the world's largest producer of fertiliser.

    1 minute read

  • July 30, 2010 |

    Nokia Siemens appoints new general counsel with Hewlett-Packard hire

    Nokia Siemens Networks has appointed in-house veteran Joyce Norcini as its new general counsel. Norcini joined the telecoms company earlier this week (2 August) from Hewlett-Packard (HP), where she was regional general counsel for Europe, Middle East and Africa (EMEA). She is taking over the role from Sirpa-Helena Sormunen, who has been acting general counsel since the departure of Kirsi Komi earlier this year. Sormunen will continue in her role as head of legal and compliance in the customer operations division.

    1 minute read

  • July 29, 2010 |

    The italian job - Telecom Italia's GC on one of Europe's most eventful in-house roles

    Life at Telecom Italia (TI) is rarely dull. Italy's largest telecoms company is currently embroiled in two major scandals, each containing enough intrigue and drama to fulfil the war story quota of TI general counsel and company secretary Antonino Cusimano for a good few years. Not that he can share such tales publicly, of course. The first involves illegal gathering of personal information. Between 2001 and 2006 the phones of more than 5,000 Italians - among them journalists, politicians and other prominent individuals - were allegedly tapped. Since the scandal was uncovered four years ago there have been a host of arrests, including that of TI's former head of security, Giuliano Tavaroli.

    1 minute read

  • July 28, 2010 |

    RenCap reviews panel after Cleary hire in bid to expand outside counsel ranks

    Russian investment bank Renaissance Capital (RenCap) has kicked off a review of its advisers, aiming to double its panel to 12 law firms. The bank has asked around two dozen law firms to pitch for the review, which comes less than a year after the bank appointed its first formal panel last August. The review is being led from London by executive vice chairman Ashar Qureshi, who joined the bank earlier this year from Cleary Gottlieb Steen & Hamilton. RenCap is due to conclude the review in August and has not set a limit on the length of the panel appointments.

    1 minute read

  • July 28, 2010 |

    SJ Berwin and Cleary act for buyout houses on $1.9bn frozen food sale

    SJ Berwin and Cleary Gottlieb Steen & Hamilton have advised on private equity firm BC Partners' $1.9bn (£1.2bn) sell-off of its French frozen food business to Lion Capital, reports The Am Law Daily. SJ Berwin took the lead role for buyout house Lion Capital on its acquisition of Picard Surgeles, reportedly the largest leveraged buyout in France since 2008. Lion Capital, which was formed in April 2005 after splitting off from HM Capital Partners, specialises in acquiring consumer products companies such as Weetabix, lingerie retailer La Senza, restaurant chain Wagamama, and t-shirt retailer American Apparel.

    1 minute read