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  • May 8, 2008 |

    Cleary leads as US firms hit 20% mark on diversity

    Cleary Gottlieb Steen & Hamilton has been crowned as the US's most ethnically-diverse major law firm, according to research that shows US firms drawing on a wider pool of talent. The research, conducted by Legal Week sister title Minority Law Journal, puts Cleary at the head of an extensive ranking based on diversity of workforce.

    1 minute read

  • May 7, 2008 |

    Dechert and Skadden Arps secure trophy public float on Czech £1.1bn mining IPO

    Dechert has landed a trophy corporate role advising Czech coal mining company New World Resources (NWR) on a flotation on the main stock exchanges in London, Prague and Warsaw that could be worth up to £1.1bn.The deal, which was scheduled for an early May listing as Legal Week went to press, is set to be the largest ever in Czech history and the largest European initial public offering (IPO) this year. It will also be the first to have a triple listing on the three bourses.

    1 minute read

  • May 7, 2008 |

    Client lows, credit woes

    Law firms needing extra capital from banks to weather the rough economy are finding that the times - and the terms - have changed. Many law firms are seeing a slowdown in work and a lengthening in their client payment cycle. At the same time, banks that provide lending to law firms to help cover their revenue gaps and fund bigger projects are implementing more onerous requirements for doling out credit.

    1 minute read

  • May 1, 2008 |

    First-half M&A boom drives US firms to $64.5bn record in 2007

    The US's top 100 law firms have capped off a record-breaking five-year run that has seen partner profits soar and combined fees last year hit $64.5bn (£32.4bn), according to the definitive snapshot of the world's largest legal market.The American Lawyer's eagerly-awaited top 100 rankings confirm that the M&A boom of the first half of 2007 has driven the US's top law firms to record financial results.

    1 minute read

  • May 1, 2008 |

    O'Melveny to align pay for US and UK partners

    O'Melveny & Myers is in talks to bring its remuneration structure for London partners into line with the rest of the firm. The move comes amid two senior City partner departures from the office and talk of pay disputes between the firm and the outgoing partners.

    1 minute read

  • April 30, 2008 |

    Commentary: A real American law firm lands in the Square Mile

    Unlike most US firms landing blinking in the City, one problem that Quinn Emanuel Urquhart Oliver & Hedges will not have is standing out. After all, these self-consciously combative trial lawyers extraordinaire manage to stand out in their home town, having grown at staggering speed from their 1986 launch to become a top 100 US practice in just two decades. But it is far more than startling growth that the Los Angeles-based upstart is known for: it remains one of the very few law firms of any significance to focus exclusively on litigation, a focus that the firm has turned to its advantage by freeing itself from conflicts.

    1 minute read

  • April 30, 2008 |

    Training and education: Power play

    Is the Government's decision to allow private law schools to award degrees a controversial move, or a natural step in the institutions' educational evolution? Choongo Moonga reports

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  • April 30, 2008 |

    US results 2007: high growth, high anxiety

    Here’s a telling story regarding the ambiguous mood in the outwardly-robust US legal market.At the time its well-received union was being finalised…

    1 minute read

  • April 29, 2008 |

    Bullish Linklaters leads on pay but will others follow?

    It certainly wasn’t a forgone conclusion but Linklaters set the agenda for the City pay round today (30 April) when it confirmed that it was lifting…

    1 minute read

  • April 25, 2008 |

    Lovells in talks to recruit O'Melveny heavyweight

    Lovells is in talks to bolster its London corporate practice with the hire of O'Melveny & Myers partner Chris Ashworth. Partners at Lovells are understood to be voting on the hire at the moment but it is thought that Ashworth is likely to join the firm as head of corporate finance.

    1 minute read