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  • January 19, 2009 |

    Herbert Smith wins global role on Nortel collapse

    Herbert Smith has won the lead role on the administration of the UK subsidiary of telecoms manufacturer Nortel, a deal which will see the UK firm representing the company throughout 18 jurisdictions. The firm was appointed by administrators Ernst & Young after it had been advising Nortel on pre-administration matters.

    1 minute read

  • January 16, 2009 |

    Davis Polk wins deal double on Citi restructuring

    Davis Polk & Wardwell has landed two roles advising Citi on its business redistribution and its joint venture with Morgan Stanley. The US giant is advising Citi with a team from its New York office, including corporate chief George Bason, corporate partners Louis Goldberg and Marc Williams, tax partners Avishai Shachar and Neil Barr and financial institutions cheif Randall Guynn.

    1 minute read

  • January 16, 2009 |

    Cleary boosts revenue 8% while profits rise 12%

    Cleary Gottlieb Steen & Hamilton has posted its financial results for 2008, with the firm defying the downturn to record increases in both revenue and partner profits. Revenue at the US firm is up by 8% to $965m (£646m), while profits per partner increased by 12% to $2.4m (£1.6m).Revenue per lawyer, however, remained flat, decreasing by less than 1%.

    1 minute read

  • January 15, 2009 |

    RPC signs exclusive agreement to send trainees to BPP

    City firm Reynolds Porter Chamberlain (RPC) has signed an exclusive deal with BPPlaw school. The agreement will see all of RPC's future trainees studying the Legal Practice Course (LPC) with BPP from September this year. The course will be specifically tailored to RPC's needs. The deal makes RPC the latest in a stream of firms to sign exclusive training agreements with individual law schools, with BPP running programmes for 12 firms. Last September, the City LPC consortium of Freshfields Bruckhaus Deringer, Herbert Smith, Lovells, Norton Rose, and Slaughter and May extended their relationship with BPP by agreeing to send all their Graduate Diploma in Law (GDL) students to the school.

    1 minute read

  • January 8, 2009 |

    Cleary seals hire of Citi GC for capital markets team

    Cleary Gottlieb Steen & Hamilton has boosted its New York capital markets practice with the rehire of Edward Greene from Citi. Greene is general counsel of Citi's institutional clients group. He joined the banking giant in 2004 from Cleary.Greene, who is currently based in London, will relocate to New York to rejoin the firm in February. His joined Cleary in 1982, prior to which he was general counsel of the US Securities and Exchange Commission (SEC) as well as director of the Division of Corporation Finance.

    1 minute read

  • December 18, 2008 |

    Herbies hires Paris competition partner

    Herbert Smith's Paris office has hired its first dedicated competition partner, with Sergio Sorinas set to join the City firm in the new year (5 January) from Cleary Gottlieb Steen & Hamilton. Sorinas, who was a counsel with Cleary, focuses on European and French competition law, including merger control, cartels, restrictive practices and state aid. He joined Cleary in 1997 and was based in the US firm's Brussels office until 2000. He is admitted to the Bar in Paris and Barcelona.At Herbert Smith, Sorinas will work closely with the firm's Paris head of corporate, Jacques Buhart - who also specialises in EU competition and merger issues - and competition of counsel Dominique Brault.

    1 minute read

  • December 14, 2008 |

    Restructuring round-up: the happy holidays edition

    Looking for some seasonal cheer? One might be hard-pressed to find it in this economy, unless of course you're a bankruptcy lawyer. The long-awaited 'tidal…

    1 minute read

  • December 12, 2008 |

    Cleary takes top role on French bank bailout

    Cleary Gottlieb Steen & Hamilton has landed a lead advisory role as two leading French banks take up more than €5bn (£4.5bn) worth of state aid, in a deal that closed yesterday (11 December). The Wall Street firm acted for European banking giant BNP Paribas and France's largest retail bank Credit Agricole as they issued €2.55bn (£2.28bn) and €3bn (£2.7bn) worth of securities respectively.The securities were issued to an entity established by the French State as part of plans to aid its stricken banks. Four other banks issued securities simultaneously, including Societe Generale and Credit Mutuel. In total, €10.5bn (£9.4bn) was injected into the banks.

    1 minute read

  • December 10, 2008 |

    Asia and Latin America: The future is...

    With the US and Europe set to plunge deeper into recession next year, the so-called emerging markets of Asia offer some hope of a more buoyant environment in which law firms and their clients can do business.Lawyers in the closely linked Hong Kong and China markets are not exactly brimming with optimism about the year ahead - but neither are they as despondent as their western counterparts, summing up the general mood across much of the East Asia region.

    1 minute read

  • December 10, 2008 |

    Asia and Latin America: Brazilliant opportunities

    As a result of its rapid recent economic growth, Brazil must make significant efforts to carry out a major renovation of its infrastructure. This is crucial for creating jobs and business opportunities, and increasing the necessary competitiveness to facilitate continued growth in a difficult market.Furthermore, events that will be held in Brazil in subsequent years, including the 2014 World Cup, will require the completion of some major infrastructure projects in a short period of time.

    1 minute read