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  • June 25, 2009 |

    Kangaroo court - does Norton Rose's Oz deal deserve the stinging verdict?

    Those still nursing delusions that senior City lawyers are a charitable bunch would have been swiftly disabused of that notion had they this week discussed the merits of Norton Rose's surprise tie-up with Australia's Deacons. The response can be summed up as a double helping of negative with a large side-order of snide. I'm not sure that's fair. The move, which is the largest international union for years, is definitely a little off the beaten track – but then the road less travelled often turns out to be the most rewarding.

    1 minute read

  • June 22, 2009 |

    City firms line up on £553m LBO as debt market hints at revival

    A handful of City firms have won roles on the largest European leveraged buyout (LBO) so far this year. Ashurst, Allen & Overy (A&O), Macfarlanes and Dickson Minto all advised on as Charterhouse Capital Partners' £553m LBO of Candover-owned energy consultancy Wood Mackenzie.

    1 minute read

  • June 18, 2009 |

    Dentons, Fulbright and Ashurst dig deep into E647m oil and gas buyout

    Denton Wilde Sapte, Fulbright & Jaworski and Ashurst have played key roles in the E647m (£556m) consortium acquisition of the oil and gas division of Oranje-Nassau Groep.

    1 minute read

  • June 18, 2009 |

    Public and regulatory law: At your service

    As City law firms cut jobs and freeze pay levels, the public sector has become an increasingly attractive option to lawyers. Part of the allure is, no doubt, the relative security offered by government employers. But that's not the whole story. City associates who are tired of handling repetitive tasks such as due diligence and document review have long looked enviously at the more challenging work carried out by their peers in government bodies such as the Department for Business, Enterprise & Regulatory Reform (BERR) and the Treasury Solicitor's Office, but shied away from moving because of the carrot of law firm partnership and higher salaries. However, with uncertainty about future employment prospects – let alone partnership prospects – rife, increasing numbers have begun to consider a move into public service roles.

    1 minute read

  • June 12, 2009 |

    Norton Rose sees double-digit PEP drop while revenues rise 6%

    Norton Rose has become the latest top 10 City firm to unveil its financial results for 2008-09, reporting an increase in fee income but a double-digit fall in profits per equity partner (PEP). The firm's revenues climbed by 6% to £314m compared with the previous year's figure of £297m. However, despite the growth in turnover, PEP fell by 17% down to £517,000 from last year's figure of £625,000. During the previous financial year Norton Rose saw turnover increase by 27.5%, with PEP growing by 22%.

    1 minute read

  • June 11, 2009 |

    Ashurst taps CC in first partner hire for Hong Kong arm

    Ashurst has secured its first partner hire in Hong Kong, with the City law firm recruiting Lina Lee from Clifford Chance (CC) as a corporate partner. Lee, who was a senior associate at CC specialising in equity capital markets and M&A, will join the firm's Hong Kong office at the end of June.

    1 minute read

  • June 4, 2009 |

    Bar Council calls on firms to fund civil litigation

    City law firms could help fund some civil litigation cases as part of sweeping proposals to overhaul litigation funding mechanisms in the UK. Guy Mansfield QC, acting on behalf of the Bar Council, is considering asking firms to invest in a fund that would be used for cases such as professional negligence, personal injury and employment disputes, which currently come mainly under the 'no win, no fee' banner.

    1 minute read

  • June 4, 2009 |

    Top UK firms engaging in debate as clients push for real ground on billing

    If the general message from hard-pressed clients is that they are expecting real ground on costs this year from advisers, research from Legal Week suggests that the message is getting through to private practice. General information on billing policies from the UK's 10 largest law firms by revenue, reveals that at least half of the group have put in effect blanket freezes in charge-out rates this year with DLA Piper, Herbert Smith, Eversheds and Ashurst all confirming they have put benchmark rates on hold.

    1 minute read

  • June 4, 2009 |

    CC and Ashurst lead on property group's £220m IPO

    Clifford Chance (CC) and Ashurst have won roles on Europe's largest initial public offering (IPO) of 2009 – the £220m listing of Max Property Group. CC took the lead for Max Property Group, which last week listed on London's Alternative Investment Market (AIM) and the Channel Islands stock exchange (CISX). Equity capital markets partner Simon Thomas and corporate partner Adrian Levy led the CC team.

    1 minute read

  • June 1, 2009 |

    K&L Gates hires Ashurst partner for Dubai debut

    K&L Gates has launched an office in Dubai with the hire of Ashurst energy and transport partner Paul de Cordova. Senior dispute resolution partner Neal Brendel will relocate from K&L Gates' Pittsburgh office to co-found the Dubai base, which will focus on corporate and projects work.

    1 minute read