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  • February 11, 2014 |

    Barclays more than doubled litigation provisions in 2013

    Barclays increased the amount it sets aside for litigation by 142% last year, in a move to hedge itself against several outstanding disputes and enforcement actions by authorities in the UK and US.

    1 minute read

  • February 6, 2014 |

    Credit Suisse latest bank to see profits hit by legal costs

    Credit Suisse has become the latest investment bank to have its profits hit by escalating litigation provisions and costs. A financial report, published today (6 February), shows the group recorded net litigation provisions of 577m Swiss francs (£392m) in the fourth quarter of 2013.

    1 minute read

  • February 4, 2014 |

    Davis Polk and Latham aid Smith & Nephew's $1.7bn ArthroCare deal

    Davis Polk & Wardwell and Latham & Watkins have acted on Smith & Nephew's $1.7bn (£1bn) acquisition of Texas-based ArthroCare. The deal, which was run by lawyers' at the firms' US offices, sees the British medical technology company purchase the surgical device manufacturer at a 6% premium on the Friday's market valuation.

    1 minute read

  • January 30, 2014 |

    How Simpson Thacher and Paul Hastings brought home the bacon on $7.1bn Smithfield takeover

    The acquisition of American pork producer Smithfield Foods by Hong Kong-based meat manufacturer Shuanghui International Holdings came at a good time for Hong Kong's corporate lawyers. Last year's $7.1bn (£4.2bn) deal was the largest ever takeover of a US business by a Chinese company and was announced just as a host of law firms were focusing their energies on Chinese outbound investment. When it came to choosing their advisers, it was no surprise that both Shuanghui and Smithfield picked US firms with which they had long-term relationships. Wall Street firm Simpson Thacher & Bartlett was appointed lead counsel on the US side, having advised Smithfield since the turn of the century, while Paul Hastings was selected by Shuanghui, having assisted it on restructuring, offshore activities and other transactions since 2003.

    1 minute read

  • January 29, 2014 |

    Jonathan Fisher QC to advise select committee on Co-op investigation

    Devereux Chambers' Jonathan Fisher QC has been appointed as a specialist adviser to the Treasury Select Committee's inquiry into the Co-operative Bank's failed bid for 632 Lloyds branches.

    1 minute read

  • January 28, 2014 |

    RBS expects £3bn litigation hit as bank prepares for huge losses

    The Royal Bank of Scotland has set aside £3bn towards compensation and litigation costs, as part of an expected £7-8bn pre-tax loss for 2013...

    1 minute read

  • January 27, 2014 |

    US giants and magic circle trio advise on Liberty Global's €6.9bn Ziggo purchase

    A host of firms including Ropes & Gray, Latham & Watkins, Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have taken the lead roles on Liberty Global's cash and stock purchase of Dutch cable company Ziggo for €6.9bn (£5.7bn).

    1 minute read

  • January 21, 2014 |

    Eversheds' former Asia chief moves out of private practice

    Eversheds' former managing partner for Asia Nick Seddon has joined consultancy Beaton Capital as a partner and recruitment company Olivier Cheah as a director. Seddon, who left the UK firm last February, has moved out of private practice to take a corporate advisory role at Beaton, and to work alongside Hong Kong recruiter Jim Olivier to assist firms with lateral partner hires in the city.

    1 minute read

  • January 21, 2014 |

    Reed Smith hires ex-Dewey pair in Astana office push

    Reed Smith has hired two former Dewey & Leboeuf partners for its office in Astana, becoming the latest international firm to bulk up in the Kazakh capital. The firm, which has been based in the city since 2012, is strengthening the office with the recruitment of its first two partners, both of whom worked at Dewey before the firm collapsed in 2012.

    1 minute read

  • January 20, 2014 |

    Spiralling legal costs blamed as Deutsche and Morgan Stanley see profits hit

    Expensive litigation costs have resulted in significant profit dips for two of the world's biggest investment banks. Deutsche Bank and Morgan Stanley have both had to set aside additional cash for legal expenses arising from the fall-out of the financial crisis.

    1 minute read