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  • March 3, 2010 |

    US firms paused expansion in 2009 but are back on the hunt

    As Legal Week's survey of lateral hiring by US firms in London recently demonstrated, partner moves were thin on the ground in 2009, at least by the yardstick of recent years. The research found 59 hires across 37 of the largest US firms. This was substantially down on the senior recruitment seen at US firms over the last five years - this group managed 77 partner hires in 2008 - but in many ways it is surprising that the figure wasn't even lower. Lateral hiring virtually shut down in the first half of 2009 as firms drastically slashed costs in the worst phase of the global recession. The second half of the year, which saw an aggressive hiring spree from Greenberg Traurig Maher claim no less than 15 partners, was pretty active in contrast.

    1 minute read

  • February 18, 2010 |

    BLP and Kirkland advise as Reader's Digest goes into administration

    Kirkland & Ellis and Berwin Leighton Paisner (BLP) have taken key roles on the administration of Reader's Digest and the Chapter 11 of its US parent company. Readers Digest Association filed for Chapter 11 in August last year after struggling with payments on its $2.2bn (£1.4bn) debt, and the UK arm of the subscription-only magazine filed for administration yesterday (17 February) after plans to reduce its £125m pension deficit failed, putting 117 jobs at risk.

    1 minute read

  • February 17, 2010 |

    Kelly hire settles dispute over Cleary's City litigation plans

    With even the notoriously conservative Cleary Gottlieb Steen & Hamilton making a senior disputes appointment in the Square Mile, it appears that the much-touted banking litigation market really does have legs. The US firm made a big splash last week with the news that it was making a rare lateral hire in the shape of Jonathan Kelly from Simmons & Simmons, one of the best-known banking litigators in the City.

    1 minute read

  • February 12, 2010 |

    Simpson Thacher passes on City promotions as six make partner in NY

    Simpson Thacher & Bartlett has announced its 2010 promotions, with the Wall Street leader making up six new partners in its New York office. Five of the promotions come in the firm's corporate practice, with the litigation practice gaining the remaining partner. All six promotions are effective from January 2010.

    1 minute read

  • February 10, 2010 |

    Hammonds wins lead role on £280m private equity buyout

    Hammonds took a leading role advising on the sale of survival equipment maker Survitec Group to US private equity firm Warburg Pincus for nearly £280m. The national firm advised longstanding private equity client Montagu on its £274m disposal of the company, which focuses on serving the marine, military, aerospace and homeland security markets, to buyout house Warburg Pincus.

    1 minute read

  • February 3, 2010 |

    Slaughters and CC in on New Look IPO

    Slaughter and May and Clifford Chance have bagged leading roles on New Look's £650m Initial Public Offering (IPO), announced yesterday (2 February). Slaughter and May corporate partners Martin Hattrell and Simon Nicholls are leading a team advising the fashion retailer, whose majority shareholders include private equity houses Permira Advisers and Apax Partners, on its proposed floatation on the London Stock exchange.

    1 minute read

  • January 27, 2010 |

    Simpson Thacher wins lead role on KKR's £955m Pets at Home purchase

    Simpson Thacher & Bartlett, Travers Smith and DLA Piper have lined up on the sale of Pets at Home for almost £1bn, in the latest deal signalling a resurgence in the private equity sector. Simpson Thacher took the lead role for Kohlberg Kravis Roberts & Co (KKR), which won the high-profile auction to purchase the pet supplies chain from Bridgepoint Capital with a bid of £955m.

    1 minute read

  • January 20, 2010 |

    Skadden, Links and Lovells win roles as Travelport lines up £1.8bn float

    Skadden Arps Slate Meagher & Flom has taken the lead role on one of the largest initial public offerings (IPO) for almost two years. A team from Skadden advised online travel booking company Travelport on its hotly anticipated flotation, which values the company at around £1.8bn.

    1 minute read

  • December 15, 2009 |

    Weil Gotshal billings on Lehman bankruptcy rise to $127m

    Weil Gotshal & Manges' billings on the Lehman Brothers collapse have reached $127.1m (£78m), according to a new bankruptcy report filed yesterday (14 December). The monthly operating report filed by Weil bankruptcy partner Shai Waisman shows that Lehman has paid legal counsel and financial advisers nearly $533.5m (£328m) since entering Chapter 11 in September 2008.

    1 minute read

  • December 13, 2009 |

    Clifford Chance

    Tough markets currently face this leading finance firm, but no one expects CC to give up without a fight...

    1 minute read