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  • June 21, 2010 |

    Nixon Peabody loses five-partner team to Pillsbury in wake of DLA defections

    Pillsbury Winthrop Shaw Pittman has hired a five-partner team from Nixon Peabody's New York office, reports The New York Law Journal. The exact size of the team is still being finalised and could reach 20 lawyers, said Pillsbury chairman James Rishwain. The departing partners include Mats Carlston, Nixon Peabody's former head of global finance.

    1 minute read

  • June 18, 2010 |

    Herbert Smith wins role on record IPO of Chinese banking giant

    Herbert Smith has won a role on what is set to be the world's largest-ever initial public offering (IPO) as the Agricultural Bank of China (AgBank) goes public. The UK top 10 firm is advising the underwriting banks on the landmark listing, which was initially valued at as much as $30bn (£20.2bn), although market estimates have since been tempered by a drop in China's stock market, with a figure of $23bn (£15.5bn) now thought to be more likely.

    1 minute read

  • June 17, 2010 |

    City lawyers unimpressed by overhaul of banking regulation

    A sweeping shake-up of banking regulation has met with a cool reception from City lawyers with doubts raised about the move to largely abolish the Financial Services Authority (FSA). The overhaul, which was announced last night (16 July) by Chancellor George Osborne at the annual Mansion House speech, will see a major increase in power for the Bank of England, which will take on a new remit to police market risk.

    1 minute read

  • June 16, 2010 |

    DLA Piper faces fresh battle over disability discrimination claim

    DLA Piper is to defend itself for a second time against a high-profile disability discrimination claim after a ruling this week from the Employment Appeal Tribunal (EAT). In a judgment handed down yesterday (15 June), EAT president Mr Justice Underhill sent the claim to be heard again in an employment tribunal later this year.

    1 minute read

  • June 11, 2010 |

    Weil leads on French private equity firm's billion-pound IPO exit

    Weil Gotshal & Manges has taken a lead role advising on the DKK12.4bn (£1.4bn) initial public offering (IPO) of Danish food company Chr Hansen. The Weil Gotshal team advising on the flotation was headed up by capital markets partners James Cole and Peter Schwartz, assisted by associates Jesse Zigmund, Aparna Ravi and Augustine Bourne.

    1 minute read

  • June 9, 2010 |

    Ex-City lawyers acquitted in insider trading case

    Former McDermott Will & Emery partner Michael McFall has been found not guilty in the insider trading case brought against him by the Financial Services Authority (FSA). McFall was acquitted in Southwark Crown Court on 3 June after a unanimous verdict was delivered by an 11-member jury in just an hour and a half.

    1 minute read

  • June 4, 2010 |

    A defeat for the FSA, but there's no turning the regulatory tide

    Well, you win some you lose some. On the day that the Financial Services Authority (FSA) announced its largest-ever civil fine, against JP Morgan, the City watchdog also suffered a defeat in its high-profile attempt to secure an insider trading conviction against three men, two of them former City lawyers. The first case illustrated once more the FSA's sometimes melodramatic determination to reinvent itself as a get-tough enforcer for the post-crunch age, with the regulator seemingly now digging out the grand rhetoric for every fine over fifty quid.

    1 minute read

  • June 3, 2010 |

    CC takes lead role as FSA hands out record £33m fine to JP Morgan

    The Financial Services Authority (FSA) has handed out a record £33.32m fine to JP Morgan in the latest sign of a tougher regulatory stance from the City watchdog. The penalty, which was announced today (3 June), was handed out after JP Morgan failed to protect client money by keeping it with its own money for almost seven years between 2002 and 2009 following the merger of JP Morgan and Chase Manhattan.

    1 minute read

  • May 26, 2010 |

    Trio of firms lead $23.8bn Ukrainian cell company deal

    Orrick Herrington & Sutcliffe, Skadden Arps Slate Meagher & Flom and Magisters have lined up on a $23.8bn (£16.4bn) deal - the largest merger in Ukrainian history. The deal, completed on 21 April, saw Russia's Altimo and Norway's Telenor combine their stakes in cellular operators Russian Vimpelcom and Ukrainian Kyivstar GSM to create Vimpelcom.

    1 minute read

  • May 26, 2010 |

    Litigation: The long arm of the law

    The evolving state of extradition law calls to mind the process of ageing. One day you have not a care in the world. Seemingly, the next morning everything has changed and it hurts to put on your socks. The new day of extradition law is upon us. While we were looking elsewhere, the big decisions were made. For at least the past decade, the US has been aggressively reaching out to extradite citizens of other nations who have been charged with business crimes. Since the signing of the new extradition treaty between the US and the UK in 2003, the UK has evidenced its willingness to turn its own citizens charged with white-collar crimes over to the US for prosecution.

    1 minute read