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  • March 12, 2008 |

    Commentary: Pressure is on for Kirkland as McKeeve heads for the exit

    For many in the private equity community it was only a matter of time, but last week's announcement that one of its most-trumpeted signings, Raymond McKeeve, had resigned leaves Kirkland & Ellis facing awkward questions about its UK strategy. Rumours, which partners had conceded internally were not baseless, had been circulating for months that all was not well with the firm's private equity team. Even ignoring claims that McKeeve's informal style was not playing well within a conservative partnership and judging the team purely on performance, the situation did not look good, with many questioning whether McKeeve and his ex-Linklaters colleague Graham White had delivered

    1 minute read

  • March 12, 2008 |

    Online special: City partners name BLP as most upwardly mobile in chasing pack

    Berwin Leighton Paisner (BLP), Herbert Smith and Ashurst have seen their market reputation improve more in the last three years than any other 'chasing pack' firm, according to new Legal Week research. The latest Legal Week/EJ Legal Big Question survey of leading City lawyers asked them to rank which two firms had made the most progress improving their market positions over the last three years, with respondents ranking BLP as the firm which has made the most progress.

    1 minute read

  • March 10, 2008 |

    City giants top slashed LS Trillium panel

    Land Securities Trillium (LST) has slashed its roster of external advisers, with two-thirds of its previously preferred firms missing out, following the property outsourcing giant's first-ever formal panel review. Allen & Overy (A&O) and Freshfields Bruckhaus Deringer are handed coveted roles as LST's main strategic advisers at the top of a three-tier panel system.

    1 minute read

  • March 6, 2008 |

    LLP status goes live as Pinsents taps Eversheds for property duo

    Pinsent Masons has hired two property partners from rival Eversheds as the top 20 UK firm last week went live with its conversion to a limited liability partnership (LLP).

    1 minute read

  • March 6, 2008 |

    Firms undercut fees to grab slice of Dubai pie

    The raft of firms opening in Dubai in recent months is leading to falls in charge-out rates in the region. Top 10 UK firms, as well as smaller City rivals, are among those reported to be undercutting fees for work, with lawyers operating in the market saying the trend has increased significantly over the last 12 months.Energy, project finance work and construction are named as practices where undercutting is most likely to happen, with those trying to build relationships with sovereign wealth funds also likely candidates.

    1 minute read

  • March 5, 2008 |

    Commercial and Chancery Bar: Centre point

    In an article entitled 'Starting from Scratch' on 29 March, 2007, Legal Week reported on the ambitious plans for the Dubai International Financial Centre (DIFC) and its Court. In the subsequent year the world's leading financial institutions have continued to pour into the centre and the list of law firms with a presence in the DIFC now include Akin Gump, Allen & Overy, Al Tamimi & Co, Ashurst, Clifford Chance, Conyers Dill & Pearman, Denton Wilde Sapte, Freshfields Bruckhaus Deringer, Linklaters, Lovells, Maples and Calder, Norton Rose, Reed Smith Richards Butler, Simmons & Simmons and Walkers. In addition, the UK law firms Kennedys and Clyde & Co, which are based in greater Dubai, have also been active in the DIFC Court. It is notable that in January the International Bar Association (IBA) established its Middle East office in the DIFC. The opening of the office was timed to correspond with the IBA's Arab regional forum's conference on Islamic finance in the Middle East. The DIFC has set its sights on becoming the world centre for Islamic finance and is itself an active investor. In June 2007, DIFC Investments listed a $1.25bn (£630m) sukuk on the Dubai International Financial Exchange, taking the total value of sukuk listed on the exchange to $10.43bn (£5.26bn) - the highest of any exchange worldwide. The DIFC has also been an active investor in international markets and acquired a 2.2% stake in Deutsche Bank, which, according to publicly-available market data, makes it the largest external strategic shareholder in the international investment bank.

    1 minute read

  • March 5, 2008 |

    Paul Hastings taps Ashurst Paris projects team

    Paul Hastings Janofsky & Walker has hired a four-lawyer projects team from Ashurst in a boost for the US firm's Paris office. Pascal Cuche and Marc Lordonnois join Paul Hastings as partners alongside associates Karine Debaecker and Mounir Letayf. All four were previously associates at the top 10 City firm.

    1 minute read

  • February 28, 2008 |

    Gender gap narrows as female partner count increases 30% from 2006 total

    UK law firms have moved to open up their partnerships to female lawyers during the last year, according to the latest annual statistical report by the Law Society.The report found the total number of female partners in England and Wales increased by nearly 30% over the 12-month period ending 31 July, 2007. Female lawyers now make up 23.5% of all private practice partners, with the number of women partners hitting 7,420 - up from 5,727 female partners in England and Wales the previous year.

    1 minute read

  • February 28, 2008 |

    Pressure to open in Abu Dhabi sees licence approval backlog

    Some of the UK's leading law firms are having to push back their long-awaited launches in Abu Dhabi due to delays in receiving their licences from local authorities. The move comes as growing numbers of firms rush to the region amid increasing pressure from local clients, including coveted sovereign wealth funds, to launch offices in Abu Dhabi as well as Dubai.

    1 minute read

  • February 27, 2008 |

    QNB instructs Eversheds on debt financing for The Shard

    Eversheds is the latest firm to score a lead role on the development of London's iconic new skyscraper, The Shard. The firm won a role advising Qatar National Bank (QNB) on its recent debt and equity investment in the £2bn development. Real estate partner Nicholas Bartlett led the Eversheds team advising QNB, which provided at least £195m of debt with further debt expected.

    1 minute read