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  • January 7, 2009 |

    Ashurst LLP accounts reveal £20m staff costs hike

    Ashurst's staff costs jumped by almost £20m during the last financial year as the top 10 City firm increased its headcount by nearly 200 staff.The firm's first limited liability partnership (LLP) accounts for the 2007-08 financial year show that the firm paid out £109.2m on staff costs, up from £89.4m the previous year. The bulk of the figure (£96.9m) went on salaries, with the remainder going on social security, pensions and associated costs. The accounts show that the firm had 190 more staff during the 2007-08 financial year, with total legal and support staff for the period numbering 1,646, excluding LLP members.

    1 minute read

  • December 24, 2008 |

    Dundas wins lead role on $50bn Madoff fraud case

    Dundas & Wilson's London corporate recovery team has bagged a top role advising on UK and European aspects of the high profile Bernard Madoff fraud case. Dundas insolvency partner John Verrill is leading a team advising Grant Thornton as joint provisional liquidator to Madoff Securities International.

    1 minute read

  • December 11, 2008 |

    Employment, benefits and pensions team of the year

    It is sometimes assumed that it is impossible to win the same award for two years' running. Sacker & Partners obviously does not subscribe to this view. Nor does the judging panel, which once again gave the nod to the pensions boutique, which was also successful in 2007. In doing so the judges were keen to stress that Sackers had provided ample evidence that this is a firm that is not content to rest on its laurels. New clients in 2008 include pension schemes at Whitbread, Siemens, BSI Group and Northrop Grumman.

    1 minute read

  • December 11, 2008 |

    Capital markets team of the year

    To say there has been turmoil in capital markets would perhaps win an award for understatement of the year. These extraordinary times have placed new demands on lawyers, and the finalists demonstrated that they have what it takes to help clients through the turbulence. The judges hailed the way Allen & Overy's (A&O's) capital markets team has adapted to the downturn. Much of A&O's recent work has involved crisis management, whether restructuring transactions, making existing structures more resilient or advising on derivatives and structured finance. A&O has been particularly active in the structured investment vehicles field and the covered bond market, while its equity capital markets work includes advising Imperial Tobacco on a £4.9bn rights issue, the second largest underwritten issue in the UK ever.

    1 minute read

  • December 11, 2008 |

    Property team of the year

    It is a sign of the times that this year's winner, Forsters, secured the crown on account of its strength in property litigation rather than its transactional activity. The panel was impressed by the team's innovative work in relation to leasehold enfranchisement, where it appeared in the House of Lords and the Court of Appeal. Clients are appreciative - "their commitment to us was fantastic and it felt like a real team effort, not a traditional lawyer/client relationship" was one admiring comment. Revenues for the property litigation team also grew by 38%.

    1 minute read

  • December 11, 2008 |

    Best use of technology

    The launch of Eversheds' Global Accounting Management System (GAMS) could not have been better timed. A matter management tool developed by the firm originally for global manufacturing group Tyco, the system hands clients much greater control over their legal spend at a time when every pound counts. The extensive range of management information provided in a consistent format means clients can identify trends and anomalies - one client, for example, was able to establish that the businesses in one of its countries were litigating excessively. Eversheds claims GAMS' deployment reduced Tyco's fees by 30% within six months.

    1 minute read

  • December 11, 2008 |

    Managing/senior partner of the year

    Running a modern law firm is a complex challenge, and many a talented lawyer has been burnt by the experience. The judges agreed that all six finalists showed they have what it takes to deliver outstanding performance. David Gray is stepping down as Eversheds' chief executive after five years, having notched up a litany of achievements. These include a £10m investment in the project management skills of its lawyers as well as the Global Account Management System. Gray has led from the front - partners can rate his performance on an intranet page. But he can be tough too, introducing a yellow and red card scheme to improve partners' approach to cash management.

    1 minute read

  • December 11, 2008 |

    Law firm of the year

    This award is always one of the most hotly contested, and 2008 proved to be no exception.Ashurst has continued to invest heavily in its international network, doubling its headcount in Dubai, opening an office in Abu Dhabi and recruiting shrewdly in Tokyo and Singapore. A Hong Kong office is planned for 2009. With a focus as well on identifying new areas of demand for legal expertise, Ashurst is showing the initiative required to succeed in turbulent conditions, the judges said.

    1 minute read

  • December 10, 2008 |

    Asia and Latin America: The future is...

    With the US and Europe set to plunge deeper into recession next year, the so-called emerging markets of Asia offer some hope of a more buoyant environment in which law firms and their clients can do business.Lawyers in the closely linked Hong Kong and China markets are not exactly brimming with optimism about the year ahead - but neither are they as despondent as their western counterparts, summing up the general mood across much of the East Asia region.

    1 minute read

  • December 10, 2008 |

    Dealmaker: Florentin Tuca

    Tuca, Zbarcea & Associatii managing partner Florentin Tuca on fulfilling his lifelong dreams, fishing and pretending to know about cheese

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