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  • October 12, 2011 |

    Ambitious but pressured - the global market reaches a crunch point

    The international market is going through a period of flux, as forces that have been bubbling away for years gradually twist the industry into different shapes. Looking at the results from this year's Global 100 gives some indication of how this is playing out, but the patterns are still far from set. There is a growing push for firms outside the top tier to achieve real scale fast – as typified by international moves from Norton Rose, Ashurst and Hogan Lovells. Certainly, there is an increasing premium being placed on scale. Whether articulated or not, a common aspiration among many major firms in the UK is to secure a good position in the global top 50 by revenue.

    1 minute read

  • October 12, 2011 |

    Trio of firms lead on £660m sell-off of 'bad bank' debt

    Hogan Lovells, Weil Gotshal & Manges and DLA Piper have taken lead roles on Ireland's National Asset Management Agency (NAMA) sale of £660m in debt it held on hotels including Claridges to the Barclay brothers. The deal, which closed last month (27 September), saw a vehicle owned by the Barclay brothers buy £660m debt of Maybourne Hotels Group – parent company of Claridges, The Berkeley and The Connaught – from NAMA.

    1 minute read

  • October 12, 2011 |

    LG IP practice chief departs to Brown Rudnick

    Brown Rudnick has bulked up its London arm with the hire of LG intellectual property (IP) and media head Georgie Collins. Collins joined the firm last week after three years with LG, where she has been a partner since 2010 and practice head since 2008. Her practice focuses on both contentious and non-contentious IP matters with particular experience in international and cross-border disputes. Her departure leaves LG with no partners in its IP 
and media group.

    1 minute read

  • October 12, 2011 |

    Ashurst partner exits continue with senior litigation duo set to leave

    Ashurst is set to see two senior departures from its litigation practice, with litigation chief Michael Madden leaving the firm and partner Wil Thorburn set to join JP Morgan Chase in a newly-created role as EMEA litigation head. Madden, who has been a partner since 1995, is leaving at the end of this month and will be replaced by senior litigation partner Ed Sparrow in his management role. He initially took over the post from Sparrow in 2003.

    1 minute read

  • October 11, 2011 |

    Ashurst real estate funds partner duo join Goodwin Procter's City base

    Goodwin Procter is effectively relaunching its London office with a double partner hire from Ashurst. The US firm has hired Ashurst's European real estate funds chief David Evans, who sat within Ashurst's corporate practice, and fellow real estate funds partner Samantha Lake Coghlan.

    1 minute read

  • October 5, 2011 |

    The ICB provides an awkwardly, irritatingly British solution to what ails the banking sector

    Given the political charge it had built up, it was inevitable that media reaction to the final report from the Independent Commission on Banking (ICB) would be framed as a win or loss for the banks. Even on that basis, it was a tricky call – the final proposals issued last month proving a little tougher in terms than expected, but with a longer-than-predicted timeframe for implementation of 2019. And on reflection it becomes clear that this awkwardly British process totally defies easy categorisation.

    1 minute read

  • October 3, 2011 |

    India justice minister promises to 'fast-track' market liberalisation

    The Bar Council of India has agreed to set out a timeline for the liberalisation of its legal market, with Law Society president John Wotton claiming that he has "never been as confident" that the long-awaited process is finally underway. The first discussions will be held between the parties at the International Bar Association's annual conference in Dubai at the end of the month, with the Law Society hoping that the discussions will conclude by January, when a delegation from the Indian Bar Council is due to visit the UK.

    1 minute read

  • October 3, 2011 |

    Mallesons partners voice support for tie-up with China leader King & Wood

    Mallesons Stephen Jaques is pushing forward with plans for a tie-up with top Chinese law firm King & Wood in what could mark a highly significant union in the Asia-Pacific market. The top-tier Australian firm's partners were given the chance to air their views about the potential union at a meeting in Sydney last month, with discussions between the two firms now set to progress after partners offered broad support for a tie-up.

    1 minute read

  • October 3, 2011 |

    BLP strengthens City construction with Ashurst partner hire

    Berwin Leighton Paisner (BLP) has hired Ashurst's non-contentious construction head as its new head of engineering, construction and procurement. Marc Hanson is set to join BLP later this year, replacing current practice head John Hughes-D'Aeth, who will remain at the firm.

    1 minute read

  • September 30, 2011 |

    DLA and Ashurst head up pre-pack rescue deal for clothing retailer

    DLA Piper and Ashurst have taken lead roles on the pre-pack administration of Alexon Group, a deal which has seen the troubled clothing retailer sold into private equity ownership. The deal, which is expected to save as many as 2,700 jobs, closed yesterday (29 September) with a sale to Sun Capital, after shares in Alexon were suspended following the appointment of KPMG as administrators.

    1 minute read