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  • June 27, 2013 |

    Weil rivals cite wind-down of Lehman work as factor behind job cuts

    Weil Gotshal & Manges' lucrative role on the Lehman Brothers bankruptcy has been cited as a potential contributing factor to the news this week that the firm is embarking on a major round of layoffs set to affect as many as 170 lawyers and support staff. From Lehman's fall in 2008 to its emergence from Chapter 11 protection in March last year, Weil racked up more than $400m (£260m) in fees advising on the collapse – the largest bankruptcy in history.

    1 minute read

  • June 24, 2013 |

    Weil to cut 170 jobs across firm with both lawyers and support staff to go

    Weil Gotshal & Manges is set to cut around 170 jobs in a major round of layoffs affecting both lawyers and support staff. The firm has announced that it is aiming to reduce associate headcount by around 60, with roughly 110 support staff positions also set to go.

    1 minute read

  • June 20, 2013 |

    Linklaters and Simpson Thacher forge close relationship for key deals

    Linklaters has struck up a relationship with Simpson Thacher & Bartlett to jointly advise clients on corporate and finance deals as the magic circle firm continues its push into the high-yield bond market. The UK firm is working increasingly closely with the Wall Street leader in a non-exclusive relationship that sees it combine its banking and high-yield expertise with Simpson Thacher's strengths on the sponsor side. The relationship has seen the firms jointly advise major private equity houses including Apax and KKR, with the firms both advising the clients independently in the past.

    1 minute read

  • June 20, 2013 |

    Quality workload key as choppy job market hits lawyer morale

    The continuing turmoil in the legal job market has not had a negative impact on the quality of work being handled by lawyers at the UK's top firms, according to a major new research project. Legal Week's annual Employee Satisfaction Report, which this year canvassed the views of almost 4,000 lawyers below partner level, found a belief that the standard of work and the quality of firms' clients has returned to pre-crisis levels, having dipped significantly in the years since 2007. The survey found the perception of both the quality of clients and work being done for them at its highest point in four years, with fee earners recording an average satisfaction level of 8.3 out of 10 this year for quality of work, matching pre-recession scores. The score for quality of clients saw near identical results.

    1 minute read

  • June 13, 2013 |

    DLA and Weil lead on AXA and China's Fosun Club Med bid

    DLA Piper and Weil Gotshal & Manges have secured advisory roles on a deal that could see Chinese conglomerate Fosun International and Paris-based AXA Private Equity buy French resort operator Club Mediterranee for a reported €556m (£473m). The deal, should it go ahead, would see Fosun and AXA each owning a 46% stake in Club Med, with the remaining 8% of shares to be held by the resort group's management team. The two investors currently own 20% between them. DLA Piper is advising China's Fosun, with Paris-based corporate partner Jeremy Scemama leading a team that also includes Palo Alto-based M&A partner Paul Chen.

    1 minute read

  • May 15, 2013 |

    Shearman to boost City ranks with Weil partner duo

    Shearman & Sterling is to bolster its London practice with the hire of a three-lawyer team from Weil Gotshal & Manges' in the City, including private equity partner Mark Soundy and tax partner Sarah Priestly. The trio, who are set to join in the coming weeks, is completed by associate Simon Burrows.

    1 minute read

  • May 10, 2013 |

    Quinn Emanuel to launch in Australia with Herbert Smith Freehills duo

    Quinn Emanuel Urquhart & Sullivan has announced plans to launch in Australia following the hire of two Herbert Smith Freehills partners. The Los Angeles litigation firm has recruited disputes partners Michael Mills and Michelle Fox from Herbert Smith Freehills in Sydney, and will be joined by IP litigation partner James Webster who is relocating to Australia from LA.

    1 minute read

  • May 5, 2013 |

    The Transfer Window: recent moves including Latham, CC and A&O

    Latham & Watkins has turned to Norton Rose for its latest London partner hire, recruiting banking partner Dean Naumowicz for its City finance team. Naumowicz, who joined Norton Rose as a partner in 2006 from Barclays Capital, focuses on derivatives and structured finance. Roles he has taken on recent deals have included acting for project company Societa di Progetto Brebemi on a €2.3bn (£1.9bn) toll motorway project in Italy, on which he worked with a team of lawyers from the firm's Milan office.

    1 minute read

  • April 25, 2013 |

    Weil Gotshal's London arm rolls out range of alternative billing methods

    Weil Gotshal & Manges' City arm has introduced a menu of alternative billing methods as part of a push to offer its clients better value for money. The US firm's London office has been actively promoting the use of alternative billing to its partnership since last summer, with private equity partner Marco Compagnoni and funds partner Ed Gander leading the initiative and drawing up a list of 15 options for partners to use

    1 minute read

  • April 11, 2013 |

    GTM and Stephenson Harwood advise on hotel group's £302m Park Lane sale

    Greenberg Traurig Maher (GTM) and Stephenson Harwood have taken lead roles on InterContinental Hotels Group's (IHG) £302m sale of its Park Lane London hotel to investment group Constellation Hotels Holding. The deal, which has seen IHG secure a 30-year contract to manage the 447-room hotel, with a possible extension to 60 years, comes after Constellation's acquisition in February of four luxury hotels in France from Starwood Capital.

    1 minute read