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  • September 8, 2010 |

    Ashurst takes lead advisory role for buyout giant Candover on wind down

    Ashurst has taken a lead role on the wind down of listed buyout group Candover, which announced plans to return cash to investors last week (31 August), having failed to conclude a deal to sell its assets to Alberta Investment Management six weeks ago. Candover Investments said in the announcement of its first half results last week that it was set to conduct a sale of its portfolio in order to distribute value to investors.

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  • September 8, 2010 |

    Switzerland: Letting the outside in

    Switzerland's legal market has long been dominated by domestic law firms but recent changes in the banking sector and in financial legislation are encouraging a more international outlook, says Suzanna Ring

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  • August 31, 2010 |

    Kirkland makes up nine lawyers to partnership in London office

    Kirkland & Ellis has made up nine lawyers to partner in the US firm's London office. The promotions, which are effective as of 1 October, are spread across several practice areas, including corporate, tax, funds, restructuring and arbitration. Kirkland London office head Jim Learner (pictured) commented: "This reflects the fact that we continue to grow in London, and a number of people who have worked up the ranks here have now had the opportunity to be admitted. The nine lawyers who were promoted are all terrific candidates."

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  • August 16, 2010 |

    Simpson Thacher and Sullivan head up firms on $4.7bn Blackstone LBO

    A raft of US firms have taken roles on The Blackstone Group's $4.7bn (£3bn) acquisition of energy company Dynegy in one of the largest leveraged buyouts of 2010 so far, reports The Am Law Daily. Simpson Thacher & Bartlett is representing longstanding private equity client Blackstone on the deal, with corporate partner Wilson Neely and energy and infrastructure practice chair David Lieberman leading the firm's team.

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  • July 30, 2010 |

    Simpson Thacher: ambling slowly towards the gate

    For private equity watchers, Glover brings a serious pedigree to the proceedings, having acted for a string of clients including Permira, Duke Street, EQT and Charterhouse. But an even greater attraction will be Glover's track record in building up CC's funds team to the point where it can be regarded alongside SJ Berwin as a leading player in Europe's private equity funds market. It is also known that Glover had wearied of what he saw as excessive bureaucracy at CC. Simpson's head of private funds Tom Bell says that it required protracted discussions to secure the services of Glover, who previously turned the firm down, citing concerns over whether it would have a strong enough platform i

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  • 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.

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  • July 27, 2010 |

    Long-serving CC litigation partner quits to join Mallesons in Hong Kong

    Clifford Chance (CC) litigation partner Denis Brock is leaving the firm after almost 25 years to join Australian leader Mallesons Stephen Jaques in Hong Kong. The new role will mark Brock's third spell in Hong Kong after he spent five years in the region with CC from 1987 and 1992, before taking on the leadership of the magic circle firm's local practice from 1997 to 2006. He returned to London in 2006 and last year lost out to Jeremy Sandelson in a contested election for the role of global head of litigation.

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  • July 26, 2010 |

    Lehman US legal fees near $400m as Weil Gotshal bills total $200m

    Legal fees billed on Lehman Brothers' US bankruptcy have have reached almost $400m (£266m) according to public documents, writes The American Lawyer. According to a filing with the Securities and Exchange Commission on Thursday (22 July), adviser fees since the case was filed in September 2008 have now reached $873.1m (£582m) with 17 law firms being paid almost $396.7m (£265m) by the debtor. Lehman's lead counsel at Weil Gotshal & Manges is by far the biggest earner on the matter. The firm's Lehman bill now stands at nearly $200.6m (£134m).

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  • July 26, 2010 |

    Freshfields adds high yield partner with Simpson Thacher hire

    Freshfields Bruckhaus Deringer has boosted its high yield capabilities with the hire of Simpson Thacher & Bartlett counsel Gil Strauss. Strauss, whose practice focuses on US corporate finance and securities, will join Freshfields in the City as an equity partner in September. Freshfields joint head of capital markets Sarah Murphy said: "Gil's expertise in acquisition financing, high yield debt offerings and bridge financing will be a valuable addition to our high yield, US and capital markets practices and we are very excited about the opportunities that will come from the combined experience of Gil and our existing teams."

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  • July 23, 2010 |

    Letter from Asia: Should US firms build local practices in Hong Kong?

    The Agricultural Bank of China's initial public offering (IPO), expected to become the world's largest, debuted this week, landing squarely in the middle of a debate over whether leading Wall Street law firms should build local practice capability in Hong Kong. The IPO on the Hong Kong and Shanghai exchanges would seem an obvious rallying cry for those arguing that top US capital markets firms will miss out on deals without their own Hong Kong lawyers - except that the lead lawyers on the AgBank deal are from New York's Davis Polk & Wardwell, which only practises US law.

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