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  • November 29, 2012 |

    Carillion to drive panel firm work through new low-cost legal arm

    Carillion is to make all of its recently appointed panel firms use its new low-cost arm in Newcastle for commoditised work as the FTSE 250 construction group considers offering the service to other companies or law firms. The Newcastle base, known as Carillion Advisory Services (CAS), currently houses 60 paralegals providing support to Carillion on the commoditised elements of deals and other work, as well as providing legal aid advice to clients.

    1 minute read

  • November 29, 2012 |

    Asia lawyers forecast market upturn after landmark leadership changeover in China

    International law firms in Asia are eyeing an increase in market activity following the change in China's leadership, citing a possible return to investment by the country's largest companies. This month saw the confirmation of Xi Jinping as China's new president, succeeding Hu Jintao after almost 10 years at the top of the Communist Party. Jintao's presidency will formally come to an end in March next year, with many lawyers in the region believing the succession will lead to a revival in work levels.

    1 minute read

  • November 28, 2012 |

    Simmons and Stephenson Harwood announce half-year financials

    Simmons & Simmons has reported a 3% decrease in revenue for the first half of the financial year, while Stephenson Harwood has seen H1 revenues hold steady. Simmons has posted a revenue figure of £124.8m for the first six months of 2011-12, with the 3% drop equating to a total of around £121m for the first half of 2012-13.

    1 minute read

  • November 27, 2012 |

    Weil and Hogan Lovells among law firms on $6.5bn Lehman sell-off

    Weil Gotshal & Manges and Hogan Lovells are among a line-up of firms to have advised on Lehman Brothers Holdings' $6.5bn (£4.1bn) cash and equity sale of property group Archstone Enterprise. Archstone, Lehman's single largest asset, is set to be sold to real estate investment trusts Equity Residential (EQR) and AvalonBay (AVB). EQR will acquire 60% and AVB the remaining 40% stake.

    1 minute read

  • November 26, 2012 |

    Ashurst defers quarterly profit distributions after tough half year

    Ashurst is deferring payment of profits to partners this quarter as the firm responds to a drop in revenues in the first half of 2012/13.

    1 minute read

  • November 23, 2012 |

    Ashurst cites currency fluctuations & tough markets as H1 revenues dip 6%

    Ashurst has reported a 6% drop in half-year revenues, citing tough markets and currency fluctuations as the reasons behind the dip. The £145m figure for the first half of 2012-13 contrasts with a strong H1 in 2011-12, which saw the firm take in £154m.

    1 minute read

  • November 22, 2012 |

    Travers takes top law firm prize at British Legal Awards 2012

    Travers Smith, Norton Rose and LV= were among the prize winners at last night's (22 November) British Legal Awards, which took place at London's Old Billingsgate Market. Travers saw off competition from Berwin Leighton Paisner, Clifford Chance, Latham & Watkins, Mishcon de Reya and Olswang to scoop the coveted Law Firm of the Year award.

    1 minute read

  • November 21, 2012 |

    The Transfer Window: recent moves including White & Case, Stephenson Harwood and A&O

    US firm Goodwin Procter has added a fifth partner to its London office with the hire of Allen & Overy (A&O) tax counsel Ben Eaton. Eaton, whose tax practice focuses on investment funds and real estate transactions, also has broad tax experience of private equity, infrastructure and renewables, debt, hedge funds and real estate.

    1 minute read

  • November 21, 2012 |

    SJB, Freshfields, Ashurst lead £3.2bn Terra Firma property purchase

    SJ Berwin, Freshfields Bruckhaus Deringer and Ashurst are among a line-up of firms advising on Terra Firma's £3.2bn takeover of Annington Homes from Japanese investment bank Nomura. Annington, which owns the Ministry of Defence's married quarters estate, comprises around 40,000 properties. The deal value of £3.2bn includes £1bn of new equity from a Terra Firma specialist fund and new debt financing and £2.2bn assumed debt.

    1 minute read

  • November 20, 2012 |

    Bakers joins law firm rush into Korea with application for local licence

    Baker & McKenzie has become the latest international law firm to apply to open in South Korea following the country's move to liberalise its legal market last year. The US outfit is among a slew of global players eyeing the Asian sovereign state for opportunities, with Nam Hung Paik, an M&A partner in Bakers' corporate practice, appointed to lead the new office upon receiving the necessary approvals.

    1 minute read