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  • October 17, 2012 |

    Government to hand more power to judges in extradition cases

    The decision to block the extradition of Gary McKinnon is set to pave the way for a 'forum bar' which would give judges the power to bar prosecution overseas if they believe it is in the interests of justice. During yesterday's (16 October) announcement of the decision in the high-profile McKinnon case, Home Secretary Theresa May confirmed plans to introduce the forum bar, which would mean - in cases where prosecution is possible in both the UK and another state - UK citizens could present their defences in the UK rather than facing extradition.

    1 minute read

  • October 11, 2012 |

    Mills & Reeve line up with magic circle duo on Cambridge Uni bond issue

    Mills & Reeve has taken a lead role alongside Clifford Chance (CC) and Linklaters on the University of Cambridge's 40-year, £350m bond issue. Morgan Stanley, HSBC and Royal Bank of Scotland are joint-managing the offering from the university, which last week received an AAA credit rating from Moody's. The move marks the university's first foray into the public market in its 800-year history.

    1 minute read

  • October 10, 2012 |

    Multimillion-dollar Dewey partner settlement gets court go-ahead

    The $71.5m (£45m) settlement between Dewey & LeBoeuf's former partners and the defunct firm's estate has been approved by the bankruptcy judge overseeing the case, less than five months after the US firm's high-profile collapse. Around 450 of 670 former Dewey partners have so far opted to participate in the settlement, which requires partners to pay portions of their earnings from 2011 and 2012 in exchange for a waiver from future liability over the firm's debts, with individual payments ranging from $5,000 (£3,100) to $3.37m (£2.1m).

    1 minute read

  • October 4, 2012 |

    SRA disputes Parabis criticism over ABS licence delays

    The Solicitors Regulation Authority (SRA) has defended itself against claims from Parabis Group chief executive Tim Oliver that the regulator was under-resourced when dealing with its alternative business structure (ABS) application.

    1 minute read

  • October 4, 2012 |

    Cleary and White & Case lead on $500m Russian bank IPO

    White & Case and Cleary Gottlieb Steen & Hamilton are advising on Russian bank Promsvyazbank's plans to seek a $500m (£309m) dual London-Moscow initial public offering (IPO).

    1 minute read

  • October 1, 2012 |

    Nomura shakes up in-house team as wholesale legal chief departs

    Nomura global head of legal and general counsel for wholesale David Graham has left the bank just over a year after taking up the role, provoking a wider restructuring of the legal team. Graham left the Japanese bank in September. He has not yet been replaced, with his responsibilities set to be split between Nomura chief legal officer, Noriaki Nagai, and other regional legal heads.

    1 minute read

  • October 1, 2012 |

    News Corp hires ex-WilmerHale and Davis Polk lawyers in compliance push

    News Corporation has appointed five group chief compliance officers (GCCOs) in a shake-up of its global compliance structure, including an ex-US federal prosecutor and a former lawyer at the Securities and Exchange Commission (SEC). The new compliance structure will be headed up by the recently installed group GC and chief compliance officer Gerson Zweifach, who was brought in this February to steer News Corp's efforts to shake up its governance following the phone-hacking scandal.

    1 minute read

  • September 27, 2012 |

    Bakers leads as Zhengzhou plans to raise $500m in Hong Kong Stock Exchange IPO

    Baker & McKenzie is advising Zhengzhou Coal Mining Machinery Group as it prepares to raise $500m (£308m) in a listing on the Hong Kong Stock Exchange.

    1 minute read

  • September 21, 2012 |

    Dewey filing reveals full breakdown of partner payments to settlement plan

    Details of the individual contributions made by former Dewey & LeBoeuf partners to the defunct firm's settlement plan have been made public for the first time in a new court filing, reports The Am Law Daily. The filing, submitted late Thursday (20 September), contains a full breakdown of which partners have agreed to participate and how much they have agreed to pay the defunct firm's estate (click here for the full breakdown), including details of contributions from ex-partners from the US firm's London and international offices.

    1 minute read

  • September 20, 2012 |

    Growth is dead, part 1: law firm financials in the wake of the recession

    If you believe the structural environment for Big Law hasn't fundamentally changed since 2008, the series I'm inaugurating today is not for you. (I would also have to ask, from a mystified perspective and in the kindest of ways, if you're paying attention?) Call it the Great Recession, the Great Reset (my favourite), or whatever, the world palpably shook in September 2008 and the repercussions are still very much with us.

    1 minute read