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  • October 15, 2009 |

    M&A pioneer and ex-Cravath lawyer Wasserstein passes away at 61

    Bruce Wasserstein, the most famous lawyer-turned-banker, has died at the age of 61. The former Cravath Swaine & Moore corporate lawyer died yesterday (14 October) after being taken to hospital with an irregular heartbeat at the weekend.

    1 minute read

  • October 15, 2009 |

    Asda shrinks legal panel from 16 to three and signs partnership charter

    McGrigors, Pinsent Masons and Ward Hadaway have won roles on Asda's new legal panel, with all three firms agreeing to sign up to a 'partnership charter'. The overhaul has seen Asda whittle down its advisers from 16 firms to just three, following an extensive review earlier this year overseen by Asda heads of legal Ellen McLaughlin and Sarah Dickson.

    1 minute read

  • October 14, 2009 |

    NY firms dominate league of world's most profitable but UK trio retain top 10 status

    Wachtell Lipton Rosen & Katz has maintained its position as the world's most profitable law firm, according to this year's Global 100, which also shows Freshfields Bruckhaus Deringer entering the rank of the five most profitable firms.

    1 minute read

  • October 14, 2009 |

    A storm is coming

    The Legal Week Litigation Forum was dominated by talk of client pressure for a new deal on costs and managing disputes. Claire Ruckin reports

    1 minute read

  • October 12, 2009 |

    Linklaters lands Government role on £16bn asset sell-off

    Linklaters has been drafted in by the Government to advise on the potential sale of £16bn worth of assets over the next two years in a bid to reduce the UK's budget deficit. The magic circle firm is understood to be one of a number of top law firms in line to benefit from the UK Government's plans to sell a portfolio of assets including the student loan book and the Dartford Crossing.

    1 minute read

  • October 9, 2009 |

    Leading firms nominated for 2009 British Legal Awards

    Allen & Overy (A&O), Bird & Bird and Norton Rose are among the nominees for a series of accolades at the 2009 British Legal Awards. The trio have been shortlisted for the prestigious Law Firm of the Year award alongside Cleary Gottlieb Steen & Hamilton, Clyde & Co, Kennedys and Stephenson Harwood. Norton Rose has also been nominated for a further two awards, including M&A Team of the Year, while Bird & Bird has secured nominations in three other categories, including Commercial Team of the Year.

    1 minute read

  • October 8, 2009 |

    Dewey takes top role on Aviva's US listing

    Dewey & LeBoeuf has won a lead role advising insurance giant Aviva on its New York Stock Exchange (NYSE) listing. The world's fifth-largest insurance group, formerly known as Norwich Union in the UK, will make a secondary listing on the NYSE on 20 October and trade under the symbol AV.

    1 minute read

  • October 7, 2009 |

    Care home operator debt restructure hands roles to Macfarlanes and A&O

    Macfarlanes and Allen & Overy (A&O) have scored roles as care home operator Four Seasons Healthcare restructured its £1.5bn debt pile after more than a year of negotiations with lenders. The deal, which signed last week (28 October), saw some 30 lenders agreeing a debt-for-equity swap that effectively halves Four Seasons' debt to around £780m and leaves primary lender Royal Bank of Scotland (RBS) with a 40% stake in the company.

    1 minute read

  • October 7, 2009 |

    Major UK law firms suffer drop-off in 2009 Global 100 results

    The UK's leading law firms have fallen back in the league of the world's largest legal practices, according to new research, with three City-based firms falling out of this year's Global 100. The ranking – a joint project between The American Lawyer and Legal Week – found total revenues at the world's 100 highest-billing law firms inched up 1.7% from the previous year, from $78.53bn to $79.92bn. Average fee income for a Global 100 practice was $799.2m, up from $785.3m in 2008.

    1 minute read

  • October 7, 2009 |

    Herbert Smith takes Virgin Atlantic role on BA investigation

    Herbert Smith has advised Virgin Atlantic on the European Commission's investigation into British Airways' (BA's) planned transatlantic alliance with American Airlines and Iberia. Last week (2 October) the Commission published a statement of objections in relation to plans to co-ordinate BA and American Airlines pricing, routes and marketing activities on certain transatlantic routes.

    1 minute read