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  • February 21, 2008 |

    Sky calls in A&O for ITV competition battle

    Allen & Overy (A&O) is set to battle on behalf of BSkyB as the satellite television operator launches a legal challenge against the Competition Commission over its stake in rival broadcaster ITV. A&O is fielding a team under City competition partners Antonio Bavasso and John Wotton to represent Sky, after the Commission last month ordered the company to sell the majority of its stake in ITV.

    1 minute read

  • February 21, 2008 |

    Slaughters gears up for headline role on landmark Northern Rock nationalisation

    Slaughter and May is preparing to handle the UK's first full nationalisation since the 1970s following the announcement this week that the Government plans to take control of Northern Rock.The decision to reject two private sector bids for the ailing mortgage lender will come as a blow to a number of City firms, including Allen & Overy, which was advising Virgin Group, the front-runner to acquire the bank.The news leaves Slaughters, which is fielding a team under partner Charles Randell, working on an unprecedented corporate takeover under intense scrutiny. The bid, which will be backed by emergency legislation, will notably have to avoid falling foul of European Commission rules on state aid and is also likely to face a legal challenge from Northern Rock shareholders.

    1 minute read

  • February 19, 2008 | International Edition

    Sullivan's Plapinger hands City reins to new co-heads

    Sullivan & Cromwell has appointed new London management, with partners Vanessa Blackmore and Robert Schlein stepping up to lead the elite Manhattan firm's City base. Blackmore and Schlein have been named as co-managing partners of Sullivan's London office, taking over from veteran City chief William Plapinger, who has headed the office for the past 13 years.

    1 minute read

  • February 19, 2008 |

    Sullivan's Plapinger hands City reins to new co-heads

    Sullivan & Cromwell has appointed new London management, with partners Vanessa Blackmore and Robert Schlein stepping up to lead the elite Manhattan firm's City base. Blackmore and Schlein have been named as co-managing partners of Sullivan's London office, taking over from veteran City chief William Plapinger, who has headed the office for the past 13 years.

    1 minute read

  • February 14, 2008 |

    Latham and Freshfields set for Middle East push as firms target new markets

    Latham & Watkins and Freshfields Bruckhaus Deringer are set for key strategic initiatives in the Middle East as top law firms move to ramp up their practices in the world's main emerging markets. US-based Latham looks set to become the latest adviser to launch in the competitive Middle East market after hiring a partner from Vinson & Elkins, while Freshfields is transferring more lawyers from London to the region.

    1 minute read

  • February 14, 2008 |

    Editor's Comment: Fortune favours...

    It is hard to believe that there has ever been a US reporting season that has been as keenly watched by the magic circle as this one. Global market conditions, continued international integration and the weak dollar mean the City's leaders have never had a better chance of closing the gap on New York's elite. Last year, Linklaters joined Slaughter and May as the only UK practices in the world's 10 most profitable law firms. This year, given the initial results from the US, it looks like Allen & Overy (A&O), Clifford Chance (CC) and Freshfields Bruckhaus Deringer will come tantalisingly close. On a rough estimate, to have an outside shot of making that select band, the UK triumvirate need profits per equity partner (PEP) of at least $2.4m (£1.2m). This means Freshfields needs bottom-line growth of 16%, A&O 17% and CC 18%.

    1 minute read

  • February 13, 2008 |

    Herbies launches emergency benefit scheme

    Herbert Smith has expanded its benefits package with new measures to give its UK staff access to emergency care for children and elderly relatives. The City firm has become one of the first UK law firms to offer a full subsidy for emergency care for dependants, through a new scheme introduced last month with benefits provider My Family Care. The service gives all employees access to emergency childcare and elder care services, with employees able to book nannies, emergency elder carers, childminders and nursery places within walking distance of either the office or their home on as little as 30 minutes' notice through My Family Care's website.

    1 minute read

  • February 13, 2008 |

    US duo kop Liverpool FC refinancing roles

    Weil Gotshal & Manges and Winston & Strawn have bagged roles advising on the £350m refinancing of Liverpool Football Club.The deal, which closed at the end of last month (25 January), saw Weil Gotshal advising Liverpool FC's parent company, Kop Football, with Winston & Strawn advising one of Kop's co-owners, George Gillett. Weil Gotshal's team on the refinancing was led by London finance partner Richard Ginsburg, assisted by real estate counsel Rupert Jones.

    1 minute read

  • February 13, 2008 | International Edition

    A&O leads for new client on $1.5bn power plant sale in CIS

    Allen & Overy (A&O) has taken a lead role on the $1.5bn (£770m) acquisition of Kazakhstan's largest power producer, bagging a new client in the process.The deal saw A&O advising new client, copper producer Kazakhmys, on its acquisition of Ekibastuz power plant and Maikuben West coal mine in Kazakhstan for up to $1.5bn. The magic circle law firm, which won the client after taking part in a competitive pitching process last year, fielded a team under corporate partner Keith McGuire and projects partner Nigel Pritchard. A&O acted alongside Salans' Almaty office, which advised on local law.

    1 minute read

  • February 13, 2008 |

    A&O leads for new client on $1.5bn power plant sale in CIS

    Allen & Overy (A&O) has taken a lead role on the $1.5bn (£770m) acquisition of Kazakhstan's largest power producer, bagging a new client in the process.The deal saw A&O advising new client, copper producer Kazakhmys, on its acquisition of Ekibastuz power plant and Maikuben West coal mine in Kazakhstan for up to $1.5bn. The magic circle law firm, which won the client after taking part in a competitive pitching process last year, fielded a team under corporate partner Keith McGuire and projects partner Nigel Pritchard. A&O acted alongside Salans' Almaty office, which advised on local law.

    1 minute read