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  • August 25, 2009 |

    Skadden to cut summer intake in half and overhaul recruitment process

    Skadden Arps Slate Meagher & Flom is cutting the size of its 2010 summer associate class in half and adjusting its recruitment strategy by making all of its offers on a single day in late September, reports The Am Law Daily. Skadden recruited 225 summer associates this year and expects to hire a little more than 100 next year, though the precise figure will depend on offer acceptance rates, said Skadden recruiting partner Howard Ellin.

    1 minute read

  • August 20, 2009 |

    US firms unite to oppose shareholder nominations to corporate boards

    Seven elite US law firms have come together to lobby the Securities and Exchange Commission (SEC) on how the agency should implement a proposal to allow shareholders to nominate company directors. Lawyers involved in drafting the letter acknowledge it was rare for one letter to come from all the firms, which included Cravath Swaine & Moore, Sullivan & Cromwell and Wachtell Lipton Rosen & Katz. At least four of the firms also sent separate letters addressing concerns with the policy direction the SEC is taking.

    1 minute read

  • August 20, 2009 |

    CC and Slaughters take top roles on $15bn debt refinancing deal

    Clifford Chance (CC), Slaughter and May, Skadden Arps Slate Meagher & Flom and Cleary Gottlieb Steen & Hamilton and are among a host of firms to advise on the $15bn (£9.1bn) refinancing of cement producer CEMEX's debt. The company, dual-listed in New York and Mexico, completed the debt restructuring last week (14 August), with the deal involving the agreement of all of the company's participating creditors on debt including syndicated loans, bilateral facilities and US private placement notes.

    1 minute read

  • August 11, 2009 |

    Skadden IP litigation partner trio jump ship to Paul Hastings

    Paul Hastings Janofsky & Walker has brought in a high-profile patent litigation team from Skadden Arps Slate Meagher & Flom in the US. The firm has recruited a trio of partners from Skadden including Jeff Randall, who leads the US firm's patent litigation teams in Palo Alto, Washington DC and Boston.

    1 minute read

  • August 6, 2009 |

    Anheuser-Busch InBev completes post-merger panel review

    Anheuser-Busch InBev has completed the first review of its legal panel since the two companies merged in 2008. The drinks giant has selected Clifford Chance (CC), Freshfields Bruckhaus Deringer, Linklaters, Howrey, Skadden Arps Slate Meagher & Flom and Sullivan & Cromwell for its global panel, with all appointed for a two-year period.

    1 minute read

  • August 4, 2009 |

    Herbert Smith and Lovells win roles on RenCap panel

    Russian investment bank Renaissance Capital (RenCap) has finished its first formal legal panel review, with Herbert Smith and Lovells the only UK-based firms to win roles. The bank has appointed six law firms to its global roster with US-based Cleary Gottlieb Steen & Hamilton, White & Case, Skadden Arps Slate Meagher & Flom and Latham & Watkins also selected.

    1 minute read

  • July 23, 2009 |

    Ashurst takes Europe role for Intel on €1bn EC fine appeal

    Ashurst has won the lead European adviser role for Intel on its appeal against one of the largest fines ever dished out by the European Commission (EC). Last May Intel was handed a penalty of €1.06bn (£914m) by the EC for anticompetitive behaviour and abusing its leading position in the market for the production of microchips, in a case which dates back to the beginning of the decade.

    1 minute read

  • July 21, 2009 |

    Skadden and Paul Weiss head up $3bn CIT rescue deal

    Skadden Arps Slate Meagher & Flom and Paul Weiss Rifkind Wharton & Garrison have taken lead roles in ailing financial services firm CIT Group's negotiations to stave off bankruptcy, reports The Am Law Daily. Under the terms of the proposal, approved late Sunday (19 July), CIT will receive $3bn (£1.8bn) from some of its largest bondholders. The loan, which has a two-and-a-half year maturity and a relatively high interest rate, is expected to give CIT some breathing room as it embarks on a global restructuring.

    1 minute read

  • July 9, 2009 | International Edition

    Foreign firms put merger hopes on hold to hunker down for recession

    The number of international law firms in London looking for a tie-up has fallen to its lowest level in five years, as firms batten down the hatches in their City outposts during the downturn. Only 21% of non-UK headquartered firms in London said they would consider a merger with a UK firm according to Legal Week's annual survey of international law firms in London. The result marks a sharp decline from last year when 45% of firms said they would consider a UK deal.

    1 minute read

  • July 9, 2009 |

    Foreign firms put merger hopes on hold to hunker down for recession

    The number of international law firms in London looking for a tie-up has fallen to its lowest level in five years, as firms batten down the hatches in their City outposts during the downturn. Only 21% of non-UK headquartered firms in London said they would consider a merger with a UK firm according to Legal Week's annual survey of international law firms in London. The result marks a sharp decline from last year when 45% of firms said they would consider a UK deal.

    1 minute read