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  • April 21, 2009 |

    Skadden, Simpson head up $2.5bn UBS Brazil sale

    Skadden Arps Slate Meagher & Flom and Simpson Thacher & Bartlett have taken lead roles on the $2.5bn (£1.7bn) sell-off of UBS's Brazilian financial services business to BTG Investments. M&A partner Alan Myers led the Skadden team advising BTG, alongside partners Paul Schnell and Sally Thurston. The elite US firm is connected to BTG by Jon Bisgaier, a former Skadden partner who left the firm last year to join BTG in Brazil, which is led by several high-level executives formerly of UBS's Brazilian unit, Banco Pactual.

    1 minute read

  • April 19, 2009 |

    Skadden lawyer survives plane crash, but loses job

    The good reporters at msnbc.com may have found the craziest legal layoff story yet: the tale of Frank Scudere, a former staff attorney at Skadden Arps…

    1 minute read

  • April 17, 2009 |

    Skadden offers one-year sabbatical on 33% salary

    Skadden Arps Slate Meagher & Flom is asking its City lawyers to take a one-year sabbatical on a reduced salary. The US firm is offering its London associates a 12-month sabbatical on one-third of their usual pay, with those taking up the scheme guaranteed a job once the year is over. Skadden's rates in London see a newly-qualified lawyer receiving £75,000 before bonuses, with a lawyer with one year's experience on £84,000.The move is an expansion of the firm's 'sidebar' programme, which was announced in the US earlier this year, with the initiative now rolled out across Europe.

    1 minute read

  • April 15, 2009 |

    Dealmaker of the Week: A&O's Kevin O'Shea

    On Tuesday 31 March, in a conference room in the midtown Manhattan offices of Skadden Arps Slate Meagher & Flom, the bidding for the IM Pei-designed…

    1 minute read

  • April 15, 2009 |

    ING and CMC set to review legal panels

    ING and CMC Markets are gearing up to review their rosters of external legal advisers. Dutch financial group ING has already launched a review of its global legal panel, with the process being run by general counsel Jan Willem Vink, who last overhauled the bank's panel in 2003. Allen & Overy (A&O), Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, Lovells, Sullivan & Cromwell and De Brauw Blackstone Westbroek all sit on the group's current global panel.

    1 minute read

  • April 13, 2009 |

    Report: Bankruptcy-related M&A at highest levels since 2004

    Citing data compiled by Thomson Reuters, The Financial Times has reported that bankruptcy-related M&A deals have hit their highest level globally since…

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  • April 9, 2009 |

    US firms outpace UK rivals to lead Q1 M&A rankings

    Wall Street has trumped UK rivals to top the global M&A rankings by value for the first quarter of 2009. Rankings compiled by Mergermarket show Skadden Arps Slate Meagher & Flom heading the global value table - working on 28 deals worth $169bn (£113bn). Wachtell Lipton Rosen & Katz, Sullivan & Cromwell and Davis Polk & Wardwell take the next slots by value, with Freshfields Bruckhaus Deringer the highest-placed UK firm in the table at number five.

    1 minute read

  • April 3, 2009 |

    Skadden partner round sees two made up in London

    Skadden Arps Slate Meagher & Flom has promoted nine lawyers to its global partnership, with two made up in London. Corporate counsel Lorenzo Corte and international arbitration and litigation lawyer Patrick Heneghan both join the elite US firm's partnership, bringing the number of London-based partners up to 29, following the recent hire of litigator David Kavanagh from O'Melveny & Myers.The number of partners made up in London is marginally down on last year's three City promotions; however, the overall total is significantly down on last year when the firm made up 25 new partners firmwide.

    1 minute read

  • April 1, 2009 |

    Major US firms' City partner promotions hit a four-year low as only 34 make the grade

    Partner promotions at some of the largest US law firms in London hit a four-year low in 2009, with just 34 lawyers making the grade compared to 54 the year before, according to research from Legal Week. A survey of promotion trends at 28 leading US firms in London found promotions had increased each year between 2005 and 2008, before this year's fall. In 2005, 36 lawyers were made up, with that figure increasing to 38 for 2006 and 48 for 2007, before last year's bumper haul.

    1 minute read

  • March 30, 2009 |

    Skadden cuts jobs across support staff ranks

    Skadden Arps Slate Meagher & Flom has begun a round of layoffs among its 2,000 non-lawyer employees, reports The Am Law Daily. Besides legal assistants, paralegals and secretaries, the layoffs are also said to affect staff attorneys.One source told The Am Law Daily that the layoffs do not exceed more than 5% of Skadden staffers in the firm's nine US offices, saying that the actual number of individuals laid off is likely to be much lower than that.At least 25 staff positions have been cut from Skadden's Washington DC office. Office head Michael Rogan said that the reductions were made for economic reasons.

    1 minute read