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  • June 25, 2009 |

    A&O, Lovells and Eversheds secure adviser roles for major US company

    Schering-Plough has added five international firms to its roster of external legal advisers. Allen & Overy (A&O), Lovells, Eversheds, DLA Piper and Baker & McKenzie, have joined the pharmaceutical giant's legal panel.

    1 minute read

  • June 19, 2009 |

    Sidley Austin and Taylor Wessing take pole position in F1 dispute

    Sidley Austin and Taylor Wessing are among a raft of top firms in line to win advisory roles on the ongoing Formula One crisis. Eight F1 teams - the overwhelming majority of participants in the competition - are threatening to break away and set up their own series as a result of a dispute with the motorsport's governing body, Federation Internationale de l'Automobile (FIA), over budget capping for 2010.

    1 minute read

  • May 15, 2009 |

    Microsoft drops K&L Gates as preferred provider

    Microsoft has completed a review of its preferred legal providers - and K&L Gates, the firm named after Bill Gates' father, is nowhere on it. Microsoft carried over to the firm after Preston Gates & Ellis merged with Kirkpatrick & Lockhart Nicholson Graham in 2007. At the time, Microsoft general counsel Brad Smith welcomed the merger as a positive step for both firms and its clients.However, following an extensive review of the firms it uses, Microsoft has announced a new list of legal providers, without K&L Gates.

    1 minute read

  • May 14, 2009 |

    BLP boosts finance investment with Sidley Austin partner hire

    Berwin Leighton Paisner (BLP) has hired structured finance partner Richard Hughes from the London arm of Sidley Austin to boost its finance team. Hughes joined BLP last week after five years as a partner in the US law firm's City securitisation team. He takes the partner headcount in BLP's London banking and capital markets practice to 16 and will advise on structured finance, securitisation, asset finance and property finance matters.

    1 minute read

  • April 22, 2009 |

    Top firms share roles in Taylor Wimpey debt restructure deal

    A raft of City and US firms have advised as troubled house-builder Taylor Wimpey agreed £2.47bn of debt facilities. The deal, agreed earlier this month, generated roles for firms including Ashurst, Allen & Overy (A&O), Slaughter and May and Davis Polk & Wardwell as the company restructured its borrowings.

    1 minute read

  • April 3, 2009 |

    Former Brown & Wood partner faces six years

    A former partner at legacy New York practice Brown & Wood has been sentenced to six and half years in prison for his role in a fraudulent tax shelter promoted by two former KPMG executives. Southern District of New York Judge Lewis Kaplan on Wednesday denied leniency for the three men convicted in the case, sentencing former Brown & Wood partner Raymond Ruble to six and half years in prison.

    1 minute read

  • April 1, 2009 |

    Major US firms' City partner promotions hit a four-year low as only 34 make the grade

    Partner promotions at some of the largest US law firms in London hit a four-year low in 2009, with just 34 lawyers making the grade compared to 54 the year before, according to research from Legal Week. A survey of promotion trends at 28 leading US firms in London found promotions had increased each year between 2005 and 2008, before this year's fall. In 2005, 36 lawyers were made up, with that figure increasing to 38 for 2006 and 48 for 2007, before last year's bumper haul.

    1 minute read

  • March 26, 2009 |

    US firms in City reach new high for lateral hires

    Lateral partner hiring across the top US and international firms in London has almost doubled over the last five years, according to research from Legal Week.A survey of hiring trends at 33 US and transatlantic firms with operations in the City found the group made a total of 79 lateral partner hires during 2008 - 11 more than in 2007, despite the banking crisis and the onset of the global recession.

    1 minute read

  • March 13, 2009 |

    Sidley cuts jobs as widespread layoffs continue

    Sidley Austin has laid off off 89 associates and staff attorneys as well as approximately 140 members of staff, reports The National Law Journal. The cuts, which affect the firm's US offices, are in addition to "routine departures," according to an internal memo. Sidley Austin said that it is expecting its work slowdown to continue for 12 to 18 months. "The economy continues to present unprecedented challenges to the firm and its clients," the memo said. "While the quality and diversification of our practice and our conservative financial management have put the firm in a strong position to deal with these challenges, we are not immune to the current turmoil." The memo said it would provide the departing workers with financial and job assistance, but did not specify the length of the severance package it is offering.

    1 minute read

  • March 12, 2009 |

    UK firms to miss out as Korea green-lights liberalisation

    UK law firms will not benefit from moves to open up the Korean legal market to foreign law firms due to the lack of a trade agreement between the two countries. The Korean authorities last week (2 March) gave a green light to the first step in a three-stage process to open up the local legal market. The process will effectively allow foreign law firms to set up representative offices in the country, however, it only applies to those countries with an active free-trade agreement (FTA) with Korea.

    1 minute read