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  • March 13, 2008 |

    Lehman cost-cutting seals panel place for Simmons

    US investment bank Lehman Brothers has extended its main UK legal roster, adding top 10 City firm Simmons & Simmons to its list of preferred advisers.Simmons, which has been doing an increasing amount of work for the bank over the last 12 months, joins Lehman's established UK advisers - Linklaters, Allen & Overy, Ashurst, Lovells, Freshfields Bruckhaus Deringer and Weil Gotshal & Manges - following a review that also saw the bank crack down on fee arrangements with outside counsel.

    1 minute read

  • March 13, 2008 |

    Pinsents loses out as National Grid completes panel review

    FTSE 100 energy giant National Grid has finalised its UK-based general commercial and disputes panel with historic adviser Pinsent Masons missing out on a place on the main roster. Wragge & Co and Berwin Leighton Paisner (BLP) have won places as general advisers to National Grid, with Eversheds mandated to advise on commercial litigation and construction work. National rival Hammonds will advise on general commercial and health and safety matters. Pinsents, while missing out on a formal place on the panel, will continue to provide competition advice.

    1 minute read

  • March 12, 2008 | International Edition

    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 |

    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