Friday, October 31, 2008

Comrades! Witches! Wizards!

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LAWYER NEWS DAILY - 31/10/2008
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Comrades! Witches! Wizards!
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The forces of socialism and evil are uniting tonight to "dance on capitalism's grave" outside the offices of A&O and Clifford Chance (see story).

The unlikely alliance of the red and the dead will see protesters in Halloween costume congregate on Bank Street by the old Lehman Brothers office "for a solemn mortuary ritual" in celebration of the financial crisis.

Though billed as "a family-friendly, anti-violent" event on websites, police and the Wharf's own faintly sinister private security force are taking no chances, and will be out in number should the dancers of the dead threaten to liven-up the due diligence room.

The Clifford Chance intranet, meanwhile, warns staff leaving before the witching hour that they run the risk of being trick-or-treated and "may wish to use the shopping mall entrance to the tube this evening to avoid any harassment".

As Mark Twain might have noted, reports of the death of capitalism have been greatly exaggerated, but then the finer points of current affairs have rarely troubled the anti-capitalist hardcore - least of all those in pursuit of a party. Don't forget your magic wand.

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Credit crunch-related redundancies in the UK 200 have tipped the 800 mark for the first time - see our Legal Job Watch page for details and for some advice for those concerned about job security. Plus: in-house and outside counsel urged to work together to avoid disputes; New York to the rescue as Shearman Europe flounders new banking & finance special reports and readers are discussing the Chadbourne & Parke hiring freeze; Indian liberalisation and Norton Rose's hunt for Indian trainees.

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BREAKING NEWS
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31-October-2008
Magic circle, Latham advise in GBP7.3bn Barclays injection
http://www.thelawyer.com/cgi-bin/item.cgi?id=135447&d=415&h=417&f=416
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31-October-2008
HBOS legal chief handed post-merger GC role
http://www.thelawyer.com/cgi-bin/item.cgi?id=135445&d=415&h=417&f=416
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31-October-2008
A&O, Clifford Chance warn staff over Halloween protest
http://www.thelawyer.com/cgi-bin/item.cgi?id=135446&d=415&h=417&f=416
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31-October-2008
Camerons revamps business development capability
http://www.thelawyer.com/cgi-bin/item.cgi?id=135442&d=415&h=417&f=416
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30-October-2008
Shearman loses Latin America head to Linklaters
http://www.thelawyer.com/cgi-bin/item.cgi?id=135441&d=415&h=417&f=416
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30-October-2008
Heller chairman finds a home at Dechert
http://www.thelawyer.com/cgi-bin/item.cgi?id=135439&d=415&h=417&f=416
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30-October-2008
Baker & McKenzie to open in Abu Dhabi
http://www.thelawyer.com/cgi-bin/item.cgi?id=135438&d=415&h=417&f=416
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Thursday, October 30, 2008

Card work

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LAWYER NEWS DAILY - 30/10/2008
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Card work
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The referee at last night's Spurs and Gunners match may have been handing out yellow cards like sweeties, but at Eversheds the entire equity partnership has been red-carded.

The partners have not been hitting their lockup targets, leading to Eversheds' ref, chief executive David Gray, pulling out the red cards - an initiative he brought in last spring (see story).

No, Eversheds isn't sending its entire partnership to sit on the sidelines. Rather partners will not receive their quarterly profit share in November - and possibly not in February - if the billing performance does not improve.

Eversheds decided to get out the red cards instead of borrowing to pay partners, as it felt the partnership should bear the cost of failing to improve lockup.

With redundancy talks with 33 Eversheds' staff members ongoing, it was only a matter of time before the cost cutting moved up the food chain.

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Plus: in-house and outside counsel work together to avoid disputes; NY to the rescue as Shearman Europe flounders and an amazing eight new banking & finance special reports. Oh, and they've enjoyed eight years of Republican tax breaks, so just why are US lawyers donating to the Democrats? Log on to join the debate.

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BREAKING NEWS
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30-October-2008
Indian Bar Council "ready to discuss" liberalisation
http://www.thelawyer.com/cgi-bin/item.cgi?id=135434&d=415&h=417&f=416
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30-October-2008
Eversheds red cards equity partners
http://www.thelawyer.com/cgi-bin/item.cgi?id=135428&d=415&h=417&f=416
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30-October-2008
Cobbetts in third round of redundancy talks
http://www.thelawyer.com/cgi-bin/item.cgi?id=135430&d=415&h=417&f=416
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30-October-2008
Lovells advises Iceland government on action against the UK
http://www.thelawyer.com/cgi-bin/item.cgi?id=135429&d=415&h=417&f=416
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29-October-2008
Proskauer hires Addleshaws partner for City push
http://www.thelawyer.com/cgi-bin/item.cgi?id=135424&d=415&h=417&f=416
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29-October-2008
Halliwells begins third redundancy consultation
http://www.thelawyer.com/cgi-bin/item.cgi?id=135422&d=415&h=417&f=416
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The end of the year as we know it

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The Lawyer.com
Thursday 30th October 2008 12.20 GMT
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The Lawyer in New York

The end of the year as we know it

This Friday (31 October), Proskauer Rose's financial year ends. No, we don't know why it's October and not December either. Presumably it's to give the partners more time to plan the Christmas party.

But more important than any calendar quirks is the fact that this will be the first US firm to post its results after a full year of chaos on Wall Street. Proskauer's figures should offer some indication of how the year will be for the US legal market.

Except that Proskauer is not really your typical US firm.

For one thing, more than 60 per cent of its partners were lateral hires. The most recent arrival at the expansionist firm (which in the past year or so has opened offices in London, Sao Paulo, Beijing and Hong Kong) came earlier this week, when Proskauer hired Addleshaw Goddard finance partner Michael Crosby in London (see story).

Crosby will be working closely with his new colleagues in Proskauer's finance practice, most notably out of Boston, New York and Los Angeles. It's a transactional group that appears to be doing surprisingly well, credit crunch considered. But it's not the real driver of Proskauer's year.

That lies in litigation. The group has just enjoyed a barnstorming year and looks well set to exceed the $376.2m (£232.4m) generated by disputes in its last financial year. That was almost entirely generated by US domestic disputes, as currently Proskauer has no litigation capability in London or its other overseas outposts (Paris aside).

But as one litigator at a rival firm puts it: "Proskauer is well known in the US for its litigation muscle, but I think it's starting to exert that muscle outside the US."

Twenty bucks says Proskauer will have litigators sitting next to Crosby in London this time next year.

matt.byrne@thelawyer.com

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Wednesday, October 29, 2008

Third time lucky?

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LAWYER NEWS DAILY - 29/10/2008
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Third time lucky?
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They could be the unluckiest lawyers in London. Richard Eaton, Chris Grew and Struan Penwarden will hope that their latest career move is more successful than their last three.

Eaton, Grew and Penwarden were part of the European dream that was Brobeck Hale and Dorr - a joint venture between West Coast US law firm Brobeck Phlegher & Harrison and Boston's Hale and Dorr.

The trio escaped to Hale and Dorr when Brobeck went bust and were soon ushered in to a marriage with Washington DC's Wilmer Cutler & Pickering. But it was not a marriage made in heaven. Eaton and co. missed their West Coast bretheren so jumped at the opportunity to launch Heller Ehrman's London office in February 2007.

Less than two years later and Heller goes to the dogs. Orrick, which has successfully plundered the remains of a series of deceased law firms, will hope that this unlucky trio are not jinxed.

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The 277 data breaches by public and private bodies this year are "serious and worrying," Information Commissioner Richard Thomas said today - but then you read our special reports on data security and outsourcing and data protection, so you knew that, right? Plus: New York to the rescue as Shearman Europe flounders; an amazing eight new banking & finance special reports, and they've enjoyed eight years of Republican tax breaks, so just why are US lawyers donating to the Democrats?.

http://www.thelawyer.com/cgi-bin/item.cgi?id=134085
http://www.thelawyer.com/cgi-bin/item.cgi?id=134078&d=415&h=417&f=416
http://www.thelawyer.com/cgi-bin/item.cgi?id=135387
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http://www.thelawyer.com/cgi-bin/item.cgi?id=135336

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BREAKING NEWS
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28-October-2008
Thelen Reid to dissolve by December
http://www.thelawyer.com/cgi-bin/item.cgi?id=135417&d=415&h=417&f=416
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28-October-2008
Heller City corporate partners to join Orrick this week
http://www.thelawyer.com/cgi-bin/item.cgi?id=135412&d=415&h=417&f=416
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28-October-2008
Taylor Wessing, Nixon Peabody settle dispute; Nixon to launch in Paris
http://www.thelawyer.com/cgi-bin/item.cgi?id=135405&d=415&h=417&f=416
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28-October-2008
Chadbourne hiring freeze as recession bites
http://www.thelawyer.com/cgi-bin/item.cgi?id=135415&d=415&h=417&f=416
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28-October-2008
Thacher Proffitt VC takes team to Greenberg Traurig
http://www.thelawyer.com/cgi-bin/item.cgi?id=135414&d=415&h=417&f=416
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28-October-2008
Beresford to face tribunal over miners' claims
http://www.thelawyer.com/cgi-bin/item.cgi?id=135413&d=415&h=417&f=416
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Tuesday, October 28, 2008

Au revoir mes amis

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LAWYER NEWS DAILY - 28/10/2008
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Au revoir mes amis
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However you define 'amicable', few situations involving clandestine talks with rivals, simultaneous law suits and a devastating blow to one's local business are likely to be all that friendly.

Still, amicable is the word that Nixon Peabody and Taylor Wessing have chosen in a joint statement describing the end of a long-running row over the former firm having pinched some 13 of the latter's 20 Paris partners, including its Paris chief (see story).

Under the terms of a settlement reached this week that ends New York court proceedings, a subsequent appeal and proceedings in France, neither firm is allowed to comment on the settlement's other terms.

Still no wonder, they're keen to move on. Law suits over and done with, six of the 13 former Taylor Wessing partners have joined the Nixon Peabody equity, and all the lawyers joining the American firm have been assured their earnings till 2010.

Taylor Wessing, by contrast, now shorn of its Paris chief, 65 per cent of its partners and a third of its associates, must re-build its shaken French operation.

Taylor Wessing HQ is being discrete. But it's hard to believe that it isn't experiencing what Harold Wilson once described as "the old feeling that the French always betray you in the end".

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Linklaters and Reed Smith have both spawned them in recent weeks, but do breakaway firms last? Read our splitters feature to find out. Plus: how government ignored competition law to stabilise the economy; the UK 200: Corporate and UK 200: Finance features; New York to the rescue as Shearman Europe flounders; Ozzy lawyers set sail as Australian firms claw back their talent; the UK's crunch-hit firms shake off their property and an amazing eight new banking & finance special reports. -----------------------------------------------------------
lawyernewsdaily@thelawyer.com
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BREAKING NEWS
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28-October-2008
Law Soc overhaul rejected after GBP90k ballot
http://www.thelawyer.com/cgi-bin/item.cgi?id=135410&d=415&h=417&f=416
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28-October-2008
Clarke Willmott begins redundancy talks
http://www.thelawyer.com/cgi-bin/item.cgi?id=135409&d=415&h=417&f=416
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28-October-2008
Taylor Wessing, Nixon Peabody settle dispute; Nixon to launch in Paris
http://www.thelawyer.com/cgi-bin/item.cgi?id=135405&d=415&h=417&f=416
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28-October-2008
Memery Crystal makes two redundant in corporate
http://www.thelawyer.com/cgi-bin/item.cgi?id=135403&d=415&h=417&f=416
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28-October-2008
Paul Weiss leads Hexion and Huntsman dispute
http://www.thelawyer.com/cgi-bin/item.cgi?id=135402&d=415&h=417&f=416
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28-October-2008
Taylor Wessing senior partner handed second term
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Wachtell walloped

Activedition
The Lawyer.com
Tuesday 28th October 2008 12.50 GMT
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The Lawyer in New York

Wachtell walloped

The latest round in one of the emblematic battles of the credit crunch should kick off today.

Hexion v Huntsman is already making waves in the US, not least because NY M&A titan Wachtell has been slammed by a Delaware judge. It's not every day a Texas law firm gets one over on Wachtell. But thanks to Vinson & Elkins' David Harvin, that's pretty much what happened last month in Delaware (see story).

Now New York litigation shop extraordinaire Paul Weiss has got in on the Hexion v Huntsman act, with chairman elect Brad Karp picking up a role alongside Wachtell's Marc Wolinsky to try to keep the damages that are likely to be paid to Vinson's client in the low millions. Or at least the low hundreds of millions.

With Cravath also scooping a role and associated litigations sprouting left, right and centre, this is barnstorming stuff.

matt.byrne@thelawyer.com

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Monday, October 27, 2008

World Cup Finale

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LAWYER NEWS DAILY - 27/10/2008
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World Cup Finale
---------------------------------------------------------------------------------------------------------
It was a moment that shocked a billion TV viewers. French football captain Zinedine Zidane, playing his last professional match, headbutted Italian defender Marco Materazzi and was sent off in the World Cup Final in 2006.

Everyone wondered just what Materazzi had said to provoke Zidane.
Zidane's agent revealed only that the France captain headbutted Materazzi because the Italian made a "very serious" comment.

But apparently it wasn't calling Zidane's mother "a terrorist whore" as reported by The Daily Mail newspaper.

And the Mail, following in the path already taken by The Sun and Star, will now have to pay damages and publicly apologise to Materazzi, thanks to some sharp lawyering by Collyer Bristow (see story).

But it still begs the question: what exactly did Materazzi say on that fateful evening?

If Collyer Bristow media head Steven Heffer knows, he's keeping it close to his chest.

--------

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Plus: Why a job in the law is no safe haven; what the breakaway brigade did next and is abandoning competition rules the price of stability?

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BREAKING NEWS
==========================================================
27-October-2008
Herbies taps A&O for Moscow finance hire
http://www.thelawyer.com/cgi-bin/item.cgi?id=135399&d=415&h=417&f=416
-----------------------------------------------------------
27-October-2008
Mail to apologise to football star for World Cup coverage
http://www.thelawyer.com/cgi-bin/item.cgi?id=135396&d=415&h=417&f=416
-----------------------------------------------------------
27-October-2008
Scramble for legal jobs as graduates spurn banking
http://www.thelawyer.com/cgi-bin/item.cgi?id=135334&d=415&h=417&f=416
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27-October-2008
White & Case implements McKinsey-inspired strategy
http://www.thelawyer.com/cgi-bin/item.cgi?id=135335&d=415&h=417&f=416
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27-October-2008
US lawyers at UK firms dig deep for Obama
http://www.thelawyer.com/cgi-bin/item.cgi?id=135336&d=415&h=417&f=416
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27-October-2008
New York to the rescue as Shearman Europe flounders
http://www.thelawyer.com/cgi-bin/item.cgi?id=135387&d=415&h=417&f=416
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Friday, October 24, 2008

Thank crunch it's Friday

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LAWYER NEWS DAILY - 24/10/2008
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Thank crunch it's Friday
---------------------------------------------------------------------------------------------------------
With the pound as weak as water, firms like Halliwells 'reorganising' their finances (see story) and banks being nationalised at a rate not seen since revolutionary Cuba, it might be a surprise to hear that a few firms had really quite a nice 2007-08, thank you very much.

As our UK 200: Finance feature, published online today, reveals, the crunch came far too late to hit to ruin a good 2007-08 for finance teams at firms ranging from the magic circle to Norton Rose and Herbies (see feature). And a similar tale can be told about corporate (see feature).

Of course, since then most finance teams have seen tumbleweeds. And the less said about real estate the better. But we do have some good news. Well, sort of.

The latest posts on our Legal Job Watch include good news for those whose jobs are on the line. In the first, Luke McLeod-Roberts spotlights an employer that is actually hiring real estate lawyers.

And in the second, legal careers adviser Geoffrey Hand has a few words of advice to remember if you are unlucky enough to be in your redundancy discussion.

"Disdain the statutory minimum as an irrelevant concept - it is a safety net provided by the state to protect the vulnerable from exploitative employers. You - and your firm - are in a different league."

That's fighting talk. Read on.

--------------

Plus: new special reports on litigation examine the Court of Appeal's ruling in BSkyB v Virgin that the client's right to choose its legal team is paramount. The second report examines Springwell, the third report examines UBS v Vestra and the fourth report examines the increase in cross-border disputes in China, Russia and the US. The fifth litigation reports examines the outcome of Yeoman's Row Management v Cobbe. And Australian firms claw back their talent; why crunch-hit firms shake off their property and why A&O is changing tack in Asia.

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lawyernewsdaily@thelawyer.com
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BREAKING NEWS
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24-October-2008
Norton Rose advises HSBC on Indonesian bank buyout
http://www.thelawyer.com/cgi-bin/item.cgi?id=135329&d=415&h=417&f=416
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24-October-2008
Skadden breaks exclusive tie-up with Chiomenti
http://www.thelawyer.com/cgi-bin/item.cgi?id=135328&d=415&h=417&f=416
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23-October-2008
Law Soc forced into vote on changes after member protests
http://www.thelawyer.com/cgi-bin/item.cgi?id=135324&d=415&h=417&f=416
-----------------------------------------------------------
23-October-2008
Halliwells reorganises its finances
http://www.thelawyer.com/cgi-bin/item.cgi?id=135326&d=415&h=417&f=416
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23-October-2008
Big Brother producer hires ITV man as legal head
http://www.thelawyer.com/cgi-bin/item.cgi?id=135322&d=415&h=417&f=416
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22-October-2008
A&O, Addleshaws advise on building society rescue
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Thursday, October 23, 2008

Halliwells makes a statement

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LAWYER NEWS DAILY - 23/10/2008
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Halliwells makes a statement
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No firm is provoking more speculation than Halliwells at the moment.

The North-West terrier was a byword for aggressive national expansion a few years ago. But this year it became strangely coy about its profits, turnover flatlined and it became one of the first firms to make redundancies - 12 in March and a further 40 in consultation right now (see story).

Which brings us to its statement on its finances today (see story).

So Halliwells is increasing its capital base. But there's no cash call, it says, and it hasn't increased its debt obligations either. Rather, the borrowings - which according to the LLP accounts as at 30 April 2007, stand at GBP3.73m - are being 'reorganised'.

A prudent move, we'd all agree. Though you might have thought such an expansionist firm would have noticed a bit earlier in the cycle that it was under-capitalised.

-----

The last financial year marked the end of the good times in corporate, but there were diamonds in the ashes - read our UK 200: Corporate feature for the details. Plus find out just who is hiring real estate lawyers; new special reports on litigation and Australia; why crunch-hit firms are shaking off their property and why A&O is changing tack in Asia.

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BREAKING NEWS
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23-October-2008
Halliwells reorganises its finances
http://www.thelawyer.com/cgi-bin/item.cgi?id=135326&d=415&h=417&f=416
-----------------------------------------------------------
23-October-2008
Law Soc forced into vote on changes after member protests
http://www.thelawyer.com/cgi-bin/item.cgi?id=135324&d=415&h=417&f=416
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23-October-2008
Big Brother producer hires ITV man as legal head
http://www.thelawyer.com/cgi-bin/item.cgi?id=135322&d=415&h=417&f=416
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22-October-2008
A&O, Addleshaws advise on building society rescue
http://www.thelawyer.com/cgi-bin/item.cgi?id=135319&d=415&h=417&f=416
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22-October-2008
White & Case closes in Milan, pulls out of Italy
http://www.thelawyer.com/cgi-bin/item.cgi?id=135318&d=415&h=417&f=416
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21-October-2008
Dewey & LeBoeuf closes Charlotte, expands in Middle East
http://www.thelawyer.com/cgi-bin/item.cgi?id=135301&d=415&h=417&f=416
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21-October-2008
Bristows names new senior partner as Rowles retires
http://www.thelawyer.com/cgi-bin/item.cgi?id=135302&d=415&h=417&f=416
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Milan no more

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Milan no more

Two firm office closures in one week is a sign of the times.

News that White & Case has shut its Milan office (see story) came just two days after Dewey & LeBoeuf closed its base in Charlotte, North Carolina.

Dewey's 11-lawyer Charlotte team fell victim to the death of structured finance while White & Case could not commit enough investment to make Milan a success (see story).

Cracking Italy has always been problematic for Anglo-Saxon firms. Since launching in the country seven years ago, White & Case has been plagued by partner defections and suffered two doomed mergers with local firms Varrenti & Associati and Morano e Associati.

"There were a lot of problems with Italy since the day the firm launched there," says a source close to White & Case. "There has always been a number of people on the management committee that did not see the point in continuing with the operations there."

Cutting your losses seems sensible enough, but this isn't the only bit of trimming White & Case is doing. Its unwieldy structure is crying out to be streamlined. Italy looks like just the start.

matt.byrne@thelawyer.com

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Wednesday, October 22, 2008

Building relationship

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LAWYER NEWS DAILY - 22/10/2008
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Building relationship
---------------------------------------------------------------------------------------------------------
Another day, another building society merger - and another set of instructions for Addleshaw Goddard and Allen & Overy.

It's almost heartwarming.

A&O's corporate team looks to be considerably busier than its once-mighty finance practice, which slipped to third behind Clifford Chance and Linklaters in revenues, as revealed in our UK 200 Annual Report corporate feature.

A&O was one of the few firms to keep its restructuring lawyers busy over the last few years, from Marconi to Drax. But those lawyers have had nowhere near the same visibility in 2008.

By contrast, the magic circle firm's corporate roles this year for financial institutions - such as HBOS on the merger with Lloyds TSB - have been remarkably high-profile. (Just don't mention the competition implications.)

Meanwhile, Addleshaws' continued appearance in the building society sector shows what a firm can do if it hangs onto its regional roots. Northern building societies have produced a stream of instructions for Addleshaws lawyers ever since demutualisations in the 1990s - the latest of them today's Yorkshire-Barnsley merger (see story).

But given the rapid shake-up of that sector, Addleshaws will have to do some defensive footwork to maintain its practice. Will A&O's finance lawyers need to do something similar?

---------------

Plus: read our verdict on BLG, Bristows; Dentons, Hammonds and McGrigors; the UK 200: Problem firms.

And find out why Simmons & Simmons is ruthlessly efficient; our latest Wall St Woes post explains how to succeed in Charlotte and Monday's story on DLA co-chief Nigel Knowles and Obama attracted a raft of reader comment - read it and add your own.

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BREAKING NEWS
==========================================================
22-October-2008
A&O, Addleshaws advise on building society rescue
http://www.thelawyer.com/cgi-bin/item.cgi?id=135319&d=415&h=417&f=416
-----------------------------------------------------------
22-October-2008
White & Case closes in Milan, pulls out of Italy
http://www.thelawyer.com/cgi-bin/item.cgi?id=135318&d=415&h=417&f=416
-----------------------------------------------------------
21-October-2008
Dewey & LeBoeuf closes Charlotte, expands in Middle East
http://www.thelawyer.com/cgi-bin/item.cgi?id=135301&d=415&h=417&f=416
-----------------------------------------------------------
21-October-2008
Bristows names new senior partner as Rowles retires
http://www.thelawyer.com/cgi-bin/item.cgi?id=135302&d=415&h=417&f=416
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21-October-2008
Simpson Thacher earns $300k for Treasury bailout
http://www.thelawyer.com/cgi-bin/item.cgi?id=135300&d=415&h=417&f=416
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20-October-2008
Beachcroft takes Eversheds negligence team
http://www.thelawyer.com/cgi-bin/item.cgi?id=135298&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
DLA chief Knowles enjoys "brief chat" with Obama
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Tuesday, October 21, 2008

All change at Bristows?

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LAWYER NEWS DAILY - 21/10/2008
==========================================================
All change at Bristows?
---------------------------------------------------------------------------------------------------------
Bristows, a firm best known for its outstanding IP practice, has yet again strayed outside its field of excellence for its choice of senior partner.

Corporate lawyer John Lace is taking over from property lawyer Michael Rowles, who is retiring after just two years (see story).

Back in September when The Lawyer UK 200 Annual Report was published, we placed Bristows in a ripe-for-merger group along with Barlows, Dentons, Hammonds and McGrigors (see story).

The UK 200 argued that Bristows could not continue as an independent generalist: it should either slim down and become a real IP powerhouse, or merge into a larger firm.

But by voting in corporate lawyer Lace as opposed to, say, IP partner Sally Field, Bristows seems to be sending the message that it intends to carry on as it is. Read our analysis to see who you think is right.

------------------

Our story yesterday about DLA co-chief Nigel Knowles pressing the flesh with Obama attracted a raft of reader comment - read it and add your own.

Plus: Banks place law firms in intensive care; why A&O is changing tack in Asia; the UK 200: National Firms; why culture is the key to a non-bland brand; how innovation could help the City to keep its arbitration lead; the downturn keeps insolvency lawyers busy and why Lord Hunt of Wirral is a good choice as Law Soc diplomat.

-----------------------------------------------------------
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==========================================================
BREAKING NEWS
==========================================================
21-October-2008
Dewey & LeBoeuf closes Charlotte, expands in Middle East
http://www.thelawyer.com/cgi-bin/item.cgi?id=135301&d=415&h=417&f=416
-----------------------------------------------------------
21-October-2008
Bristows names new senior partner as Rowles retires
http://www.thelawyer.com/cgi-bin/item.cgi?id=135302&d=415&h=417&f=416
-----------------------------------------------------------
21-October-2008
Simpson Thacher earns $300k for Treasury bailout
http://www.thelawyer.com/cgi-bin/item.cgi?id=135300&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
Beachcroft takes Eversheds negligence team
http://www.thelawyer.com/cgi-bin/item.cgi?id=135298&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
DLA chief Knowles enjoys "brief chat" with Obama
http://www.thelawyer.com/cgi-bin/item.cgi?id=135296&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
Banks force troubled law firms to rethink structures
http://www.thelawyer.com/cgi-bin/item.cgi?id=135267&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
Linklaters curtails client base to focus attention on major players
http://www.thelawyer.com/cgi-bin/item.cgi?id=135268&d=415&h=417&f=416
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Simpson simply charitable

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Tuesday 21st October 2008 11.30 GMT
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The Lawyer in New York

Simpson simply charitable

Simpson Thacher & Bartlett may not be raking in hefty fees for its role on the US banking bailout (see story), but it is certainly garnering kudos for fulfilling its public duty.

Lead partner Lee Meyerson and his team are not used to billing a meagre $79 an hour on labour intensive deals such as this. But in this case, the partners seem to have decided that the lack of fees is more than compensated for by the knowledge that their work could help save the US markets from complete financial meltdown.

For once, it appears to be less about wads of cash and more about selfless patriotism.

"To perform a duty to the country like this is a wonderful opportunity," says one US corporate partner at a rival firm. "It's true that the publicity the firm is getting from its role with the Treasury is fantastic, but I think the good of doing something this significant for your country is a real win."

So Simpson Thacher has transformed itself overnight from the poster child for the private equity boom days of excessive leverage, to a 'charitable' firm running to the rescue of the US itself.

Oh, and did we mention that it's getting some great publicity at the same time. Just a thought, but maybe all that cutting-edge banking and finance experience will come in handy when - or if - the markets ever return.

matt.byrne@thelawyer.com

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Monday, October 20, 2008

News Briefs

Virginia Law


News Briefs

Date Sent: Monday, October 20, 2008



10.20.2008
Values Critical to Understanding Health Care Debate, Scholar Says
Differences in fundamental values are at the root of disagreements over the future of the U.S. health system, said Stuart Butler, a leading scholar at one of the nation's most influential think tanks. Butler was the third speaker in this year's Sadie Lewis Webb Program in Law and Biomedicine lecture series, "The Future of Health Care Reform."

10.20.2008
Ryan to Receive Award for Scholarship on Education
Law School Academic Associate Dean James Ryan will receive the 2008 Steven S. Goldberg Award for Distinguished Scholarship in Education Law next month at the Education Law Association's annual conference.
10.16.2008
Above the Law Founder: In Tough Times, Choose First Firm Job Carefully
Law students have reason to be concerned about the economy, but should be able to weather the storm if they thoroughly research the firms that offer them jobs, said David Lat, the influential blogger who launched Above the Law and Underneath Their Robes.

10.14.2008
Former Generals to Discuss U.S. Policy on Interrogation, Torture
Several retired military leaders will discuss U.S. interrogation policy and the treatment of military prisoners at a forum on Thursday, Oct. 23 at 11:45 a.m. in Caplin Pavilion.
10.14.2008
Bioethicist: Residents of Long-Term Care Facilities Need Election Reform
The election system needs reform to keep residents of long-term care facilities safe from political disenfranchisement and voter fraud, a bioethicist said Friday at the Law School.

10.10.2008
Law School Offers J-Term Course in Paris; More Programs Abroad to Be Offered
The Law School's first-ever January Term study abroad program offers students a new opportunity to study in France. The program offers up to 20 Virginia law students the opportunity to spend 11 days in Paris attending a one-credit intensive course, French Public and Private Law.
10.09.2008
Panel: Questions Remain in Wake of Boumediene
A recent U.S. Supreme Court decision paves the way for a new round of hearings for Guantanamo Bay prisoners, but leaves several procedural questions open, according to a panel of legal experts who convened Oct. 1 at the Law School.
10.09.2008
Students Work Abroad With Help From Law School Grants
Several students used PILA grants to support overseas work in public service jobs over the summer.
10.06.2008
Law School Improves Caplin Pavilion and Special Collections, Adds Faculty Offices
The Law School is putting the final touches on a series of construction projects carried out over the summer to meet the changing needs of faculty, the library and students.
10.03.2008
Intellectual Property Deserves Protection, Merges Says
Intellectual property creators deserve to be protected by institutional systems, just like any other kind of property owner, said Professor Rob Merges at the Law School's Lester Zittrain Distinguished Lecture.
10.03.2008
Sarbanes-Oxley's Ill Effects Show Cost of Government Regulation, Easterbrook Says
Onerous federal regulations enacted after the collapse of Enron haven't helped the way American corporations are governed, a federal judge said in a recent address at the Law School.

10.01.2008
Law School Partners with JustChildren, McGuireWoods for Child Advocacy Cases
Beginning this semester, some Law School students are joining with practicing lawyers from McGuireWoods to work on child advocacy cases in the community.
09.30.2008
Law School Launches Innocence Clinic
Students in a new clinic hope to win exoneration for innocent people convicted in Virginia.
09.26.2008
Wilkinson Addresses Race and Mormonism
Winston Wilkinson, director of the Office of Civil Rights for the U.S. Department of Health and Human Services, spoke to students about race and Mormonism during an event sponsored by the Black Law Students Association and the Rex E. Lee Society.



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Yes he can!

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LAWYER NEWS DAILY - 20/10/2008
==========================================================
Yes he can!
---------------------------------------------------------------------------------------------------------
First Joe the plumber, now Nige the lawyer - Barack Obama certainly is getting in touch with the common man.

Yes, as if running a presidential campaign wasn't demanding enough, Obama has also been busy pressing the flesh with DLA co-chief Nigel Knowles (see story).

OK, so GBP1m-a-year DLA co-chief Nigel Knowles isn't exactly the common man - but then Joe the plumber wasn't even a plumber.

And hell, unlike Samuel Joseph Wurzelbacher, at least Big Nige actually is called Nige.

Anyway, if good marketing is no more than aligning your brand with the glamorous, the ever-enterprising Knowles is probably doing the right thing. Aligning himself with a guy who if not the future leader of the free world, will remain the most totemic representative for all things young, diverse and optimistic since JFK has got to be a good thing.

Less totemic, however was Obama's former rival Hillary Clinton, now just an also-ran in the 08 primaries but until just months ago as likely as Obama to lead the Democratic charge to the White House.

Which with Knowles' co-chief Lee Miller having been heavily involved in the Lawyer for Hillary campaign, would have made an equally cosy relationship for DLA USA.

Let's just hope for their sakes McCain doesn't take it.


PS: after their people, real estate costs are the biggest cost law firms face - no wonder crunch-hit firms are shaking off their property. Plus: Banks tell law firms to shape up; A&O changes tack in Asia; why culture is the key to a non-bland brand; how innovation could help the City to keep its arbitration lead; the downturn keeps insolvency lawyers busy and the UK 200: National Firms.

-----------------------------------------------------------
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BREAKING NEWS
==========================================================
20-October-2008
DLA chief Knowles enjoys "brief chat" with Obama
http://www.thelawyer.com/cgi-bin/item.cgi?id=135296&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
Banks force troubled law firms to rethink structures
http://www.thelawyer.com/cgi-bin/item.cgi?id=135267&d=415&h=417&f=416
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20-October-2008
Linklaters curtails client base to focus attention on major players
http://www.thelawyer.com/cgi-bin/item.cgi?id=135268&d=415&h=417&f=416
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20-October-2008
Simmons axes 27 staff in three-year wages review
http://www.thelawyer.com/cgi-bin/item.cgi?id=135269&d=415&h=417&f=416
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20-October-2008
A&O changes tack in Asia after seven HK corporate partners quit
http://www.thelawyer.com/cgi-bin/item.cgi?id=135295&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
Westminster Council shakes up legal team
http://www.thelawyer.com/cgi-bin/item.cgi?id=135293&d=415&h=417&f=416
-----------------------------------------------------------
20-October-2008
Manches, Payne Hicks on Madonna divorce case
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Mouchel
In-house Legal Advisor
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London
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Friday, October 17, 2008

Bittersweet

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LAWYER NEWS DAILY - 17/10/2008
==========================================================
Bittersweet
---------------------------------------------------------------------------------------------------------
With the credit crunch causing a commotion in the legal world, there's nothing quite like a holiday in the tabloids to brighten the mood.

And so it is that today's Lawyer News Daily is dedicated to Madonna's split with husband Guy Ritchie, after the Brit film director failed to justify the love of the material girl (see story).

Payne Hicks Beach's Fiona Shackleton, of Macca divorce fame, is to assemble a body of evidence for Madge; while Ritchie is represented by Helen Ward of Manches, who in May secured the UK's largest divorce settlement by landing GBP'48m for Beverly Charman in her split from tycoon husband John.

Before you start, in seriousness we realise that gloating over other people's marital break-ups isn't really on.

But the notion that Guy Ritchie may possibly become Guy Richer isn't just of interest to low-brow celeb watchers and divorce vultures. By contrast, the split of the couple's estimated GBP'300m fortune could turn legal history on its head, not only likely to set a new record for Britain's biggest ever divorce settlement, but making the recipient of that settlement a man.

Doubtless now a little bored of playing the country lady after several years of life in the country with mockney-geezer-turned-squire Ritchie, Madge may soon be departing these fair isles in favour of a return to American Life.

But in her wake, the queen of pop is set to leave a legal legacy that is a landmark not only in family law but in the increased clout of women's role in British society, if not the Western world's. That's The Power of Good-Bye.

---------------

Good news: our latest Legal Job Watch post highlights a Brit employer actually hiring lawyers.

And what do reader comments on the A&O India story say about that market? Have your say. Plus: the UK 200: National Firms feature; top NHS drug supplier Teva's Alex Thrower; why Freshfields can't yet crack the US; how to turn the downturn to your advantage; new special reports on age discrimination; on driving partner behaviour, on who dominates Italy and on what to do if the firm collapses. And as its push on judiciary diversity fails, the JAC calls in solicitors.

-----------------------------------------------------------
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BREAKING NEWS
==========================================================
17-October-2008
Shackleton squares up to Manches' Ward on Madonna divorce
http://www.thelawyer.com/cgi-bin/item.cgi?id=135227&d=415&h=417&f=416
-----------------------------------------------------------
17-October-2008
Coca-Cola GC takes control of William Grant legal team
http://www.thelawyer.com/cgi-bin/item.cgi?id=135228&d=415&h=417&f=416
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17-October-2008
Thring Townsend at centre of foot and mouth action
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17-October-2008
Katten Muchin Rosenman makes 21 redundant
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16-October-2008
Shearman sends NYC partner to head Europe
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15-October-2008
Shearman bulks up arbitration in Washington, DC
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Thursday, October 16, 2008

India: caste off

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LAWYER NEWS DAILY - 16/10/2008
==========================================================
India: caste off
---------------------------------------------------------------------------------------------------------
Transatlantic lawyers might consider themselves the world's elite, but it is partners at India's top firms that are the world's richest.

Further down the hierarchy, however, the reality is quite different. And the disparity between the Indian bar's rich and less rich is causing unrest. Albeit not always in the most predictable places.

As revealed on TheLawyer.com today, Allen & Overy's Indian referral firm, Trilegal, has lost three of its 10 partners, who are setting up an independent firm with a banking partner from Indian firm Kochhar & Co (see story).

Trilegal founding partner Anand Prasad described the trio as "great guys" that he "enjoyed working with" and would "love to still have around."

"But," he added, "I guess we were set up as a lockstep system and they probably just wanted to get to the top a lot faster."

They're not the only ones. By Indian standards, remuneration at Trilegal is positively egalitarian. And our story in August that Clifford Chance had hired two lawyers from Indian major Amarchand & Mangaldas & Suresh A. Shroff & Co, a more traditionally-structured Indian firm, elicited a release of pent-up anger from readers (see story).

"Indian firms need to develop their people management skills and realise that they don't own people," wrote one. "All these firms are owned by families with three generations working and owning virtually all the equity, so maybe its time to change?"

Another described Indian firms as "run like personal fiefdoms" at which "the family gets the lion's share of the equity, special treatment; treat other partners and associates terribly and.. appoint family to run the firm."

All of which leads neatly to ye olde Indian liberalisation debate. India's richest partners warn international firms that poaching their lawyers will set back liberalisation. But as the lower echelons of India's legal caste system realise how bad a deal they get, critical mass for change will inevitably build.

As one site poster put it, "all these blackmail tactics 'you poach from us, we wont allow your firms in India' wont work after a point."

Or will they? Log on to join the debate.

------------

PS: Our latest Legal Job Watch post explains how for those willing to make the move, the Middle East can be a safe haven for your career - not to mention your bank balance. Plus how to turn the downturn to your advantage; new special reports on age discrimination, driving partner behaviour, on who dominates Italy and what do if the firm collapses; and after its push on judicial diversity failed, the JAC has called in solicitors.

-----------------------------------------------------------
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==========================================================
==========================================================
BREAKING NEWS
==========================================================
16-October-2008
Trio breaks away from A&O's Indian alliance firm
http://www.thelawyer.com/cgi-bin/item.cgi?id=135216&d=415&h=417&f=416
-----------------------------------------------------------
16-October-2008
Lord Hunt to lead Law Society review
http://www.thelawyer.com/cgi-bin/item.cgi?id=135209&d=415&h=417&f=416
-----------------------------------------------------------
16-October-2008
Layton takes Clifford Chance corporate crown
http://www.thelawyer.com/cgi-bin/item.cgi?id=135217&d=415&h=417&f=416
-----------------------------------------------------------
16-October-2008
BLG taps A&O for first COO
http://www.thelawyer.com/cgi-bin/item.cgi?id=135218&d=415&h=417&f=416
-----------------------------------------------------------
16-October-2008
Curtis Mallet-Prevost opens in Dubai
http://www.thelawyer.com/cgi-bin/item.cgi?id=135215&d=415&h=417&f=416
-----------------------------------------------------------
15-October-2008
Cadwalader restructuring partner to join Latham
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ORACLE
Director - Employment Counsel
EMEA

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Employment Associate
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Manchester Antitrust Conference 2008

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CC lawyers look for work

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Thursday 16th October 2008 11.30 GMT
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The Lawyer in New York

CC lawyers look for work

Twenty Clifford Chance associates are searching for employment today as news of the firm's litigation redundancies sinks in.

At a time when litigators should be at their busiest, Clifford Chance's severance package of three months salary and half of 2007's annual bonus will seem like a bitter consolation for the unlucky 20.

But with layoffs becoming more common in the US legal community, severance packages and the employment rights of US lawyers are becoming hot topics.

"Severance packages have clearly been used before, but these are unprecedented times," says one US partner. "Who is to say what is the norm now. US industry operates under employment at will so legally an employer does not have to provide those laid off with anything at all."

It may be technically easy to shed associates, particularly in the US, but damage to future recruitment drives can be hard to repair.

"You have to think about what lies ahead," says a US partner. "Any layoffs will make it hard for a firm to recruit in the future. If you're seen as not doing the best you can for those affected that will be remembered for a long time."

In that light, as Clifford Chance is a UK firm still struggling to crack the US market, its honest and open approach was definitely a choice well made.

matt.byrne@thelawyer.com

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Wednesday, October 15, 2008

CC's surprising redundancies

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LAWYER NEWS DAILY - 15/10/2008
==========================================================
CC's surprising redundancies
---------------------------------------------------------------------------------------------------------
Clifford Chance's announcement yesterday that it was making 20 lawyers redundant in New York and Washington DC is not the first time lawyers in the US have faced the chop this year (see story).

It's not even the first time that Clifford Chance lawyers have been made redundant; the firm laid off six structured finance lawyers back in November last year.

What has taken the New York market by surprise, however, is the fact that all 20 lawyers were litigators. Litigators being laid off in a downturn? Can this be true?

CC litigation head Mark Kirsch has been candid about the fact that none of these layoffs is for performance reasons - echoing Greg Markel of Cadwalader, who in The Lawyer Podcast in September argued that firms should be straightforward about layoffs in order not to damage lawyers' future employment chances. (Listen)

The Clifford Chance redundancies have the shadow of Merrill Lynch hanging over them. When Clifford Chance merged with Rogers & Wells in 2000, R&W was billing over GBP9m to Merrill alone, and virtually all of that was in securities litigation. With Merriill now subsumed into Bank of America, that workflow looks a lot more uncertain.

The news also underlines the point that litigation cannot compensate for a slump in M&A and private equity deals. Even when - as our survey this week showed - magic circle partners are now routinely billing GBP750 per hour (see story). Even those rates can't save jobs when the work isn't there.

-----------

PS: Hard times, greater expectations... has your team entered The Lawyer HR Awards? Deadline 7th Nov, it's at The Grosvenor and all we ask for entry is a donation to our charities - for details click here.

Plus: Redundancies at Clifford Chance NY weren't as surprising as all that, argues today's Wall St Woes; Pills and thrills with top NHS drug supplier Teva's Alex Thrower; Jomati's Tony Williams explains how to turn the downturn to your advantage; new special reports on age discrimination, driving partner behaviour, on who dominates Italy and what do if the firm collapses; and after its push on diversity in the judiciary fails, the JAC calls in solicitors.

-----------------------------------------------------------
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==========================================================
==========================================================
BREAKING NEWS
==========================================================
15-October-2008
Cadwalader restructuring partner to join Latham
http://www.thelawyer.com/cgi-bin/item.cgi?id=135202&d=415&h=417&f=416
-----------------------------------------------------------
14-October-2008
Clifford Chance stuns market with US litigation layoffs
http://www.thelawyer.com/cgi-bin/item.cgi?id=135200&d=415&h=417&f=416
-----------------------------------------------------------
14-October-2008
Kirkland launches Asia fund practice
http://www.thelawyer.com/cgi-bin/item.cgi?id=135199&d=415&h=417&f=416
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14-October-2008
Davis Polk advises UK Government on banking bailout
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-----------------------------------------------------------
14-October-2008
DWF bags second Weightmans team in a month
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14-October-2008
Four Bircham Dyson Bell lawyers face axe
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Tuesday, October 14, 2008

Nott hanging around

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LAWYER NEWS DAILY - 14/10/2008
==========================================================
Nott hanging around
---------------------------------------------------------------------------------------------------------
Our news that Nottingham Law School has split its LPC into two parts might not have blown your skirts up, but it's bigger than you might first think (see story).

Here's why.

First, the move allows wannabe lawyers to take a break between modules. That won't sound like a big deal to students who funded the GBP10k LPC with an interest-free loan from the Bank of Mum & Dad, but for those without a BMD account its a big deal, as it allows far wider access to the profession.

In fact, it's the same reason that the Bristol Institute of Legal Practice and Central Law Training launched a part-time LPC only last month (see story).

Second, both moves are signs that rather than waiting for the powers that be to finish their review of legal education and training, which has dragged on for almost a decade, some LPC providers have simply lost patience.

What's more, Nottingham is the postgraduate law school at the heart of that very same long-delayed shake-up of legal education and training.

It was picked to pilot a controversial model proposed by the Solicitors Regulation Authority that will enable paralegals to qualify as solicitors by taking responsibility of their own training and development while working in their current roles.

That even the SRA's own chosen postgrad law school can't be bothered to wait for it to finish the review is not a resounding vote of confidence.

---------

Today's Wall St Woes post examines how in getting the rest of Manhattan's top mandates, checking for client conflicts is more salient than ever.

Plus: Jomati's Tony Williams explains how to turn the downturn to your advantage; payback time at Hammonds, new special reports on partnerships and Italy and fresh from his recent gunpoint showdown with the cops, Brit hip hop lawyer Philip Trott.

-----------------------------------------------------------
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BREAKING NEWS
==========================================================
13-October-2008
DWF bags second Weightmans team in a month
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-----------------------------------------------------------
13-October-2008
Four Bircham Dyson Bell lawyers face axe
http://www.thelawyer.com/cgi-bin/item.cgi?id=135189&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
Paulson chooses Simpson Thacher to mastermind US bank bailout
http://www.thelawyer.com/cgi-bin/item.cgi?id=135183&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
Addleshaws cuts 16 jobs across its offices
http://www.thelawyer.com/cgi-bin/item.cgi?id=135171&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
SRA and Law Society face off over review
http://www.thelawyer.com/cgi-bin/item.cgi?id=135132&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
Abu Dhabi media city hires first GC
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Simpson Thacher: back in the fray

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Tuesday 14th October 2008 12.30 GMT
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The Lawyer in New York

Simpson Thacher: back in the fray

Simpson Thacher & Bartlett may have won a couple of roles related to the meltdown on Wall Street - acting for JPMorgan and Washington Mutual - but compared to Sullivan & Cromwell and Cleary Gottlieb its presence has been rather lacking.

However, the firm's position among the Sweet Sixteen group of firms in the transatlantic elite has been confirmed, with its instruction from the US government on the $700bn financial markets bailout.

Corporate star Lee Meyerson is leading the team on what is a timely win for the firm.

"It's a feather in the cap for Simpson, but I have to say it's much more about prestige than it is about bringing in big money," says one US partner close to the action, however. "These sorts of deals don't typically generate large fees for any firm."

If only it could compensate for the downturn in private equity transactions which Simpson normally thrives on. But at least it puts the firm right back in the action.

matt.byrne@thelawyer.com

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Monday, October 13, 2008

Magic realism

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LAWYER NEWS DAILY - 13/10/2008
===========================================================
Magic realism
-----------------------------------------------------------
It's Monday the 13th; 736 UK 200 lawyers have lost their jobs and the credit crunch is turning into something else, so reasons to be cheerful are few on the ground.

Unless of course you're a partner at a magic circle firm where, as we reveal today, hourly rates are still heading skyward (see story).

As one partner observed, "the trend of rates going up... has slowed," but the key word there is 'slowed,' not stopped - let alone reversed.

This takes place in a context in which, as we also reveal today, City firms are scrambling to offload office space (see story), regional property firms are making their second wave of culls (see story) and more than a fifth of firms have had to lay off staff (see story).

Partners at smaller firms have long claimed that their firm offers magic circle services at more affordable rates.

And in-house lawyers have long complained that the bills conjured up by magic circle firms are unreasonable. With belts tighter than ever, is now the time for in-housers to put their money where their mouth is?

--------------

PS: 736 UK 200 redundancies so far - today's Legal Job Watch post explains just what your rights are if you turn out to be number 737.

Plus: US-UK merger rumours abound; Freshfields' US strategy; the UK 200: West End firms, payback time at Hammonds, new special reports on partnerships and Italy and fresh from his recent showdown with gun-toting Brit cops, hip hop lawyer Philip Trott.

-----------------------------------------------------------
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==========================================================
==========================================================
BREAKING NEWS
==========================================================
13-October-2008
Addleshaws cuts 16 jobs across its offices
http://www.thelawyer.com/cgi-bin/item.cgi?id=135171&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
SRA and Law Society face off over review
http://www.thelawyer.com/cgi-bin/item.cgi?id=135132&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
Abu Dhabi media city hires first GC
http://www.thelawyer.com/cgi-bin/item.cgi?id=135133&d=415&h=417&f=416s
-----------------------------------------------------------
13-October-2008
Law ambiguous if client money gets lost in the crunch
http://www.thelawyer.com/cgi-bin/item.cgi?id=135164&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
Salans on course for 20 per cent revenue jump
http://www.thelawyer.com/cgi-bin/item.cgi?id=135161&d=415&h=417&f=416
-----------------------------------------------------------
13-October-2008
Kennedys takes eight from DLA's Brum office
http://www.thelawyer.com/cgi-bin/item.cgi?id=135160&d=415&h=417&f=416
-----------------------------------------------------------

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GSMA
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London

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Friday, October 10, 2008

It's alive!

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==========================================================
LAWYER NEWS DAILY - 10/10/2008
===========================================================
It's alive!
-----------------------------------------------------------
A classic Mary Shelley moment today as the Law Society has discovered that the monster it created is alive and kicking.

Having set up the Solicitors Regulation Authority only three years ago, the spawn has now snapped back at its parent, accusing Law Soc of "confusing representative and regulatory functions" - which was precisely what Parliament sought to prevent when it passed the Legal Services Act 2007 (see story). Ouch.

The source of the row is the Law Soc's plans for a dramatic regulatory review, which could ultimately result in a two tiered profession where solicitors working for Big Swinging Richard LLP operate under a seperate regulatory regime from their contemporaries at Highstreet & Paupers Solicitors.

Potentially the review could even recommend that the SRA be split in two - SRA Main Street and SRA Wall Street, to adapt a topical phrase.

No wonder the SRA feels hard done by, especially since it was only told that its powers would be reviewed a day before the general public was informed.

Here's to hoping that the Legal Services Board sets itself up soon to keep the squabbling bodies apart.

---------------

Today's Wall St Woes post concerns some canny lateral thinking at creditor client-heavy Bingham McCutcheon in response to the credit crisis. Meanwhile our Legal Job Watch suggests how lawyers can keep their jobs while enjoying time away. Plus: why the market's greatest need is for politicians; Orick and the beneficiaries of Heller Ehrman's demise, why loan market turmoil means re-examining the boilerplate, why German lawyers are cheery and the UK200: West End feature.

-----------------------------------------------------------
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==========================================================
==========================================================
BREAKING NEWS
==========================================================
10-October-2008
EMW makes further lay offs
http://www.thelawyer.com/cgi-bin/item.cgi?id=135098&d=415&h=417&f=416
-----------------------------------------------------------
10-October-2008
SRA hits out at Law Soc review
http://www.thelawyer.com/cgi-bin/item.cgi?id=135113&d=415&h=417&f=416
-----------------------------------------------------------
09-October-2008
Sullivan, Davis Polk win roles on $37.8bn AIG deal
http://www.thelawyer.com/cgi-bin/item.cgi?id=135096&d=415&h=417&f=416s
-----------------------------------------------------------
09-October-2008
Law Society to review regulation for top firms
http://www.thelawyer.com/cgi-bin/item.cgi?id=135095&d=415&h=417&f=416
-----------------------------------------------------------
09-October-2008
Law Soc advises on client money held in insolvent banks
http://www.thelawyer.com/cgi-bin/item.cgi?id=135094&d=415&h=417&f=416
-----------------------------------------------------------
09-October-2008
Orrick snaps up 26-strong Heller team
http://www.thelawyer.com/cgi-bin/item.cgi?id=135093&d=415&h=417&f=416
-----------------------------------------------------------
09-October-2008
Bates Wells holds poetry day breakfast
http://www.thelawyer.com/cgi-bin/item.cgi?id=135092&d=415&h=417&f=416
-----------------------------------------------------------


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UK General Counsel
Bristol

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London

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Thursday, October 9, 2008

From bad to verse

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==========================================================
==========================================================
LAWYER NEWS DAILY - 09/10/2008
===========================================================
From bad to verse
-----------------------------------------------------------
It's probably fair to say that with the end of capitalism upon us, the fact that today is national poetry day might just have slipped your memory.

But not so the lawyers at charity specialist Bates Wells & Braithwaite, who have experienced two close encounters of the poetry kind this fortnight alone.

For one, the firm hosted a breakfast yesterday with poet Sally Crabtree to test out the old adage that there's not much poetry in money and not much money in poetry (ho ho).

Crabtree read poems plucked from her 'Poetree' and offered employees 'edible words', AKA cakes with sugar-poetry on them while lawyers and bankers were also invited to engage in "poetic activities that resulted in poems to hang on the Poetree and inspire them throughout the day." (See story.)

Indeed. Less inspiring perhaps was partner Phillip Trott's own experience with a guest poet, rapper client Busta Rhymes, which involved in a 15-cop gunpoint showdown at Heathrow airport (see story).

Online readers have already been commenting hard on the Busta Rhymes story, as you're welcome to yourself. And to make our own contribution to poetry, The Lawyer commissioned Sally Crabtree to produce two bespoke poems of, er, a truly Hallmark standard. Here's a little taster:

It's National Poetry Day and this year,
The theme is 'Work ' so that's why we're here,
At a meeting at breakfast with all the law staff,
Hoping that poetry will make them laugh,
Having ' The Lawyer ' as the special guest,
Will make sure this Poetry Day is the best!

Rupert Bear eat your heart out. To read Sally's full contribution - or better still, to contribute your own - click here.

-------------

The latest post in our Wall St Woes blog discusses Citigroup's lawsuit over Wells Fargo's bid for US bank Wachovia. Plus: why loan market turmoil mean re-examining the boilerplate; why Herbies can't shake the litigation tag and new special reports on Irish renewable energy, why there's plenty of work for Ireland's projects lawyers and exporting the rule of law to Armenia. And cast your mind back: were you a magpie, a suit, a chick or a plank?

-----------------------------------------------------------
lawyernewsdaily@thelawyer.com
==========================================================
==========================================================
BREAKING NEWS
==========================================================
09-October-2008
Orrick snaps up 26-strong Heller team
http://www.thelawyer.com/cgi-bin/item.cgi?id=135093&d=415&h=417&f=416
-----------------------------------------------------------
09-October-2008
Bates Wells holds poetry day breakfast
http://www.thelawyer.com/cgi-bin/item.cgi?id=135092&d=415&h=417&f=416
-----------------------------------------------------------
08-October-2008
UK firms line up for Icelandic bank roles
http://www.thelawyer.com/cgi-bin/item.cgi?id=135085&d=415&h=417&f=416
-----------------------------------------------------------
08-October-2008
Eversheds curbs travel in bid to cut costs
http://www.thelawyer.com/cgi-bin/item.cgi?id=135086&d=415&h=417&f=416
-----------------------------------------------------------
08-October-2008
DLA Piper signs Kuwait tie-up
http://www.thelawyer.com/cgi-bin/item.cgi?id=135084&d=415&h=417&f=416s
-----------------------------------------------------------
08-October-2008
Citi and Wells Fargo battle for Wachovia
http://www.thelawyer.com/cgi-bin/item.cgi?id=135082&d=415&h=417&f=416
-----------------------------------------------------------
08-October-2008
Akin Gump launches in Abu Dhabi
http://www.thelawyer.com/cgi-bin/item.cgi?id=135081&d=415&h=417&f=416
-----------------------------------------------------------


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Commercial Lawyer
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Debevoise and the litigation dollar

BPP
The Lawyer.com
Thursday 9th September 2008 11.50 GMT
Total Recipients: 67,414
The Lawyer in New York

Debevoise and the litigation dollar

It's just over a year since Lord Peter Goldsmith QC, the former UK attorney-general, stepped away from his role at the centre of British government and into the European litigation chair at US firm Debevoise & Plimpton.

Although Lord Goldsmith is based in Debevoise's London office, he told The Lawyer yesterday (8 Wednesday) that a growing proportion of his work now is emanating from the continuing chaos on the other side of the Atlantic.

"The first few months of the credit crunch did not result in widespread litigation," Lord Goldsmith said. "This is different. People are losing real money, not just seeing their share prices fall."

Goldsmith added that a variety of parties such as vulture funds and shareholder action groups were already circling, looking to recoup investments through the courts.

"And they'll look to those with deep pockets," he warned.

Lord Goldsmith's words confirm what many in the market have suspected - that the events of the past month are likely to trigger an avalanche of litigation in London, New York and beyond.

Later this month, The Lawyer's Transatlantic Elite Disputes magazine will highlight that increase as well as the firms that, along with Debevoise, are benefiting from the long-awaited disputes bonanza.

Lord Goldsmith - and his fellow former British government member, Lord Falconer, now at Gibson Dunn & Crutcher - will feature prominently.

See if your firm can say the same on 27 October.

matt.byrne@thelawyer.com

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Wednesday, October 8, 2008

Take that to the bank - or not

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==========================================================
==========================================================
LAWYER NEWS DAILY - 08/10/2008
===========================================================
Take that to the bank - or not
-----------------------------------------------------------
Nervous about getting your money out of a bank?

And if that's not enough, how about safeguarding monies in the client account? It's enough to bring out law firm partners in hives. After all, GBP3bn is held in client accounts across England and Wales. That's a lot of money to lose.

As we report today, firms across the City have asked the Law Society for guidance on the matter, and several are preparing changes to their terms of business to take account of the banking crisis (see story).

We're already hearing of firms diversifying away from using one bank for their client accounts. But which banks are the safe ones? And could law firms be liable if clients lost their money?

Right now there's no firm answer to that question. But you can join the debate here.

----
As our investigations show, there have already been 722 announced redundancies among the top 200 firms in the UK.

Our dedicated Legal Job Watch webpage is the only one in the market with regular and accurate updates on redundancies, consultations - oh, and job opportunities too.

-----------------------------------------------------------
lawyernewsdaily@thelawyer.com
==========================================================
==========================================================
BREAKING NEWS
==========================================================
08-October-2008
Citi and Wells Fargo battle for Wachovia
http://www.thelawyer.com/cgi-bin/item.cgi?id=135082&d=415&h=417&f=416
-----------------------------------------------------------
08-October-2008
Akin Gump launches in Abu Dhabi
http://www.thelawyer.com/cgi-bin/item.cgi?id=135081&d=415&h=417&f=416
-----------------------------------------------------------
08-October-2008
Top City firms score roles on Government's bank bailout
http://www.thelawyer.com/cgi-bin/item.cgi?id=135077&d=415&h=417&f=416
-----------------------------------------------------------
07-October-2008
City firms move to safeguard client accounts
http://www.thelawyer.com/cgi-bin/item.cgi?id=135076&d=415&h=417&f=416
-----------------------------------------------------------
07-October-2008
Heller litigation teams joins Arnold & Porter
http://www.thelawyer.com/cgi-bin/item.cgi?id=135075&d=415&h=417&f=416
-----------------------------------------------------------
07-October-2008
Fox Hayes begins second round of redundancy talks
http://www.thelawyer.com/cgi-bin/item.cgi?id=135074&d=415&h=417&f=416s
-----------------------------------------------------------
07-October-2008
Wedlake Bell lays off 17
http://www.thelawyer.com/cgi-bin/item.cgi?id=135070&d=415&h=417&f=416
-----------------------------------------------------------

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Home Counties

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Tuesday, October 7, 2008

More bad news

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==========================================================
LAWYER NEWS DAILY - 07/10/2008
===========================================================
More bad news
-----------------------------------------------------------
Wedlake Bell has become the latest firm to announce redundancies, 17 in all, as the legal industry becomes increasingly affected by the economic downturn (see story).

The firm has axed six lawyers and 11 support staff, who together account for almost 10 per cent of its workers - the biggest proportion so far since Cobbetts.

The move takes the number of legal staff within the UK's top 200 law firms involved in redundancy consultations up to a total of 679, as our Legal Job Watch blog reveals.

It also means that law firm HR departments have suddenly had to retool. As Legal Job Watch notes today, Wragges' HR team has had to change its function from recruitment to outplacement. Read more on the redundancy aftermath at Wragges.

But look! Here's some good news! Covington & Burling and Kirkland & Ellis - have both announced new partners in London. At least that's a vote of confidence in the future.

--------------------

Plus: why Herbies can't shake the litigation tag; gender, ethnicity and sexuality at the BT Group conference; small firms suffer as PI rates rocket; credut crisis groups launch at Akin Gump, K&L Gates and Mayer Brown; we reveal Dewey LeBoeuf's plan for world domination and new special reports on Ireland and the rule of law. Oh, and when did you last spend a million pounds on photocopying?

-----------------------------------------------------------
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==========================================================
==========================================================
BREAKING NEWS
==========================================================

07-October-2008
Wedlake Bell lays off 17
http://www.thelawyer.com/cgi-bin/item.cgi?id=135070&d=415&h=417&f=416
-----------------------------------------------------------
07-October-2008
Reed Smith's Birmingham office goes it alone
http://www.thelawyer.com/cgi-bin/item.cgi?id=135072&d=415&h=417&f=416
-----------------------------------------------------------
07-October-2008
Covington, Kirkland partnership promotions: City wins out
http://www.thelawyer.com/cgi-bin/item.cgi?id=135071&d=415&h=417&f=416
-----------------------------------------------------------
06-October-2008
Hammonds ex-partners: we will not surrender
http://www.thelawyer.com/cgi-bin/item.cgi?id=135013&d=415&h=417&f=416
-----------------------------------------------------------
06-October-2008
Judge slams Wembley dispute's GBP22m costs total
http://www.thelawyer.com/cgi-bin/item.cgi?id=135014&d=415&h=417&f=416
-----------------------------------------------------------
06-October-2008
Bates Wells partner in rapper v police gun showdown
http://www.thelawyer.com/cgi-bin/item.cgi?id=135015&d=415&h=417&f=416
-----------------------------------------------------------
06-October-2008
DLA Piper launches in Romania with ex-Links man
http://www.thelawyer.com/cgi-bin/item.cgi?id=135061&d=415&h=417&f=416s
-----------------------------------------------------------


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Surrey

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London

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Merger surge

BPP
The Lawyer.com
Tuesday 7th October 2008 12.00 GMT
Total Recipients: 67,360
The Lawyer in New York

Merger surge

Is everyone obsessed with merger stories, or something?

Hard on the hilarious heels of the Shearman & Sterling - Allen & Overy merger rumours - roundly stamped upon, it should be said, by both firms - come one or two other tidbits.

Such as Cadwalader Wickersham & Taft. Late last week The Lawyer kept getting being told by all sorts of people in New York that the firm which has struggled more than most this year with the impact of the downturn could be seeking a suitor. The would-be spouse, if there is one, was widely assumed to be a non-US firm.

So far, so good, except the firm itself was quick to deny the goss. “There are absolutely no merger talks with anyone,” said a Cadwalader PR.

Elsewhere, Ashurst's managing partner Simon Bromwich poured cold water over the speculation about his firm and one-year-old Dewey & Leboeuf (see story). The speculation, by the way, emanated from Dewey's London associates. “I can tell you that it's not on the cards,” Big Man Bromwich assured us.

Meanwhile, back to more comedy merger rumours in New York. An Ashurst suitor from way back when, Fried Frank, has cropped up once more, this time in connection with another UK firm – this time Allen & Overy. (Why is everyone casting A&O as a potential acquisitor? We think it's all rather flattering.)

But pity poor senior partner David Morley, who has just relocated to the US for a few months – it looks like he'll have to spend most of his time in New York fending off the rumours swirling round the market.

The world's going mad, we tell you. But then, you know that already.

matt.byrne@thelawyer.com

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Monday, October 6, 2008

All beefed up

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==========================================================
LAWYER NEWS DAILY - 06/10/2008
===========================================================
All beefed up
-----------------------------------------------------------
So what's the beef? Now that the deals have dried up, associates and partners alike seem to be spending a lot of their time dreaming up hilarious merger rumours. (You've got to have a hobby.)

Last week it was Allen & Overy and Shearman & Sterling, which was subsequently denied by both sides, now Ashurst and Dewey & Leboeuf are said to be in talks.

At least that's the rumour doing the associate rounds at Dewey & The Beef's London office, but maybe the junior lawyers are more clued up than the partners.

One senior lawyer at the office says that he hasn't heard the rumour but "it's made me want to talk to people and find out".

Meanwhile Ashurst's managing partner Simon Bromwich says diplomatically: "I don't think we'll be merging with Dewey's. I can tell you that it's not on the cards."

Maybe he should tell that to the associates in Dewey's London office. They're getting a bit over-excited.

What does Ashurst's Charlie Geffen think about his firm's US strategy? Listen to our podcast and find out.

And what does Dewey's M&A chief Mort Pierce have to say about his firm, one year after it's merger? See our interview today. And see our UK200 London mid-market feature for some fantasy mergers.
________________

Plus: Word up! Those boyz in tha Bates Wells N Braithwaite hood are representin' Busta Rhymes against tha UK cops - read the story or we'll carry on writing in this style. Plus our new Legal Job Watch page counts the redundancies as they happen - and offers advice on where next to turn. And as today's Germany feature reveals, Germany could be that place. And Dewey LeBoeuf: on track for the Global top 10?

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==========================================================
BREAKING NEWS
==========================================================

06-October-2008
Hammonds ex-partners: we will not surrender
http://www.thelawyer.com/cgi-bin/item.cgi?id=135013&d=415&h=417&f=416
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06-October-2008
Judge slams Wembley dispute's GBP22m costs total
http://www.thelawyer.com/cgi-bin/item.cgi?id=135014&d=415&h=417&f=416
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06-October-2008
Bates Wells partner in rapper v police gun showdown
http://www.thelawyer.com/cgi-bin/item.cgi?id=135015&d=415&h=417&f=416
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06-October-2008
DLA Piper launches in Romania with ex-Links man
http://www.thelawyer.com/cgi-bin/item.cgi?id=135061&d=415&h=417&f=416s
-----------------------------------------------------------
06-October-2008
Reid Minty sues former partners
http://www.thelawyer.com/cgi-bin/item.cgi?id=135060&d=415&h=417&f=416
-----------------------------------------------------------
06-October-2008
SJ Berwin mulls of counsel position
http://www.thelawyer.com/cgi-bin/item.cgi?id=135059&d=415&h=417&f=416
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06-October-2008
Quinn Emanuel to go up against bank giants
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Friday, October 3, 2008

A&O, Shearman to merge?

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LAWYER NEWS DAILY - 03/10/2008
===========================================================
A&O, Shearman to merge?
-----------------------------------------------------------
Allen & Overy in talks with Shearman & Sterling?

We're only asking.

The rumours in New York are beginning to mount. Shearman sources deny it, though another source close to the firm did admit that "it would make good sense". Another spluttered: "there is absolutely nothing there."

In the meantime, we've rustled up some excellent evidence.

A&O is occasionally tempted by the thought of a market-busting merger. It approached Freshfields back in 2006, as exclusively revealed in The Lawyer (see story).

Senior partner David Morley is moving to New York next week for three months (see story). This is being taken in New York as proof that a deal is in the offing.

A&O has nicked a whole load of Shearman's Germans - though by rights this ought to rule out a deal with the rest of the firm.

Shearman needs help. (Actually, this is incontrovertible.)

No wonder half of New York is cheering A&O on from the sidelines. And they say the Brits are gossips.

Go, David, go!

-----
Fancy some more fantasy mergers? How about Linklaters and Fried Frank? Simmons and FFW? And for David Morley's predictions for the future of the magic circle, read here.

----- In The Lawyer and online on Monday: Simmons, Bird & Bird and Ashurst celebrate success in Germany; the real story behind the Cobbetts redundancies; why Blake Lapthorn made its layoffs; what's happening to Linklaters' Eastern European lawyers; Dewey & LeBoeuf a year on; and where is Herbies' corporate department nowadays? Plus: special report on Ireland.

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BREAKING NEWS
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03-October-2008
Barclays, HBOS face GBP850m law suit
http://www.thelawyer.com/cgi-bin/item.cgi?id=134998&d=415&h=417&f=416
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02-October-2008
CMS reviews real estate jobs
http://www.thelawyer.com/cgi-bin/item.cgi?id=134988&d=415&h=417&f=416
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02-October-2008
Three partners quit Hammonds
http://www.thelawyer.com/cgi-bin/item.cgi?id=134981&d=415&h=417&f=416
-----------------------------------------------------------
02-October-2008
Mayer Brown grabs final Northern Rock mandate
http://www.thelawyer.com/cgi-bin/item.cgi?id=134980&d=415&h=417&f=416
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02-October-2008
Blake Lapthorn to axe 43 staff
http://www.thelawyer.com/cgi-bin/item.cgi?id=134977&d=415&h=417&f=416
-----------------------------------------------------------
01-October-2008
Pillsbury raids Thelen a second time in three days
http://www.thelawyer.com/cgi-bin/item.cgi?id=134976&d=415&h=417&f=416
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01-October-2008
David Ryan re-elected as Pinsents chief
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Thursday, October 2, 2008

Last orders

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LAWYER NEWS DAILY - 02/10/2008
===========================================================
Last orders
-----------------------------------------------------------
To most people a lock-in is a jolly affair where everyone sits in a pub getting drunk after hours. At Hammonds, by contrast, a lock-in is where everyone sits around in the office doing work after hours because they can't resign.

But three partners have taken the opportunity to jump ship after the firm's lock-in for this year expired (see story).

Manchester partner Gregg Davison is off to Pinsent Masons, while Leeds and Birmingham partners Terry Saeedi and Ann Benzimra are still negotiating their terms. (At least now they'll have time to nip off to the pub and leave when they want to.)

It's a gloomy story, but the firm does have cause for a bit of cheer. One commentator on our story on TheLawyer.com has already congratulated the firm on how it handled the news after a spokeswoman wished the partners well in the future.

"Well done Hammonds," they write. "This gives you credibility. Now don't ruin it."

And talking of the future, redundancies in the law now stand at 668. With your help, The Lawyer has been closely observing layoffs in the market for the last few weeks.

The stories and analysis have proved so popular with our web readers that today we are launching a special section on the website: LegalJobWatch.

The new web page will cover everything job-related from the real stories behind the redundancies to practical advice on what to do next, and exclusive data from LawyerJobs on where the employment opportunities are.

And as with all stories on TheLawyer.com, you can post your comments - as many readers already have on the lay-offs at Wragges.

If you have a topic you want us to look at, or an opinion you want to get off your chest, you can also email us in confidence at LegalJobWatch@thelawyer.com

-----------

PS: Our revelation on Monday that an SRA director thinks trainees can't write properly caused a storm of poorly written reader comment. Now BPP chief exec Peter Crisp has waded in - arguing that the SRA is right.

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BREAKING NEWS
==========================================================

02-October-2008
Three partners quit Hammonds
http://www.thelawyer.com/cgi-bin/item.cgi?id=134981&d=415&h=417&f=416
-----------------------------------------------------------
02-October-2008
Mayer Brown grabs final Northern Rock mandate
http://www.thelawyer.com/cgi-bin/item.cgi?id=134980&d=415&h=417&f=416
-----------------------------------------------------------
02-October-2008
Blake Lapthorn to axe 43 staff
http://www.thelawyer.com/cgi-bin/item.cgi?id=134977&d=415&h=417&f=416
-----------------------------------------------------------
01-October-2008
Pillsbury raids Thelen a second time in three days
http://www.thelawyer.com/cgi-bin/item.cgi?id=134976&d=415&h=417&f=416
-----------------------------------------------------------
01-October-2008
David Ryan re-elected as Pinsents chief
http://www.thelawyer.com/cgi-bin/item.cgi?id=134975&d=415&h=417&f=416
-----------------------------------------------------------
01-October-2008
Freshfields partner to head Bank of England legal team
http://www.thelawyer.com/cgi-bin/item.cgi?id=134967&d=415&h=417&f=416
-----------------------------------------------------------
01-October-2008
Firms line up for MFI rescue
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First the rescue, now the pain

BPP
The Lawyer.com
Thursday 2nd September 2008 12.15 GMT
Total Recipients: 67,414
The Lawyer in New York

First the rescue, now the pain

This week the vultures are circling one of the largest of the US's growing list of crippled financial giants: Sullivan & Cromwell client AIG.

It is widely expected that by this Friday (3 October), the insurance giant that was bailed out by the US government to the tune of $85bn will outline a list of more than 15 assets it is putting up for sale to meet its debts.

Earlier this week, on the UK side of the Atlantic, the beleaguered insurer sold its 50 per cent stake in London City airport to its joint venture buddy Global Infrastructure Partners (a Slaughter and May client). The US firesale is expected to include billions of dollars worth of subsidiaries and properties and - understandably - the world's top law firms are already watching closely.

Firms with a strength in the insurance industry that can also throw in solid M&A expertise are in pole position to advise on these acquisitions. The Lawyer understands that US firms such as Dewey & LeBoeuf are among them, while their UK rivals jockeying for position include Lovells.

As if it needed to be said, the ubiquitous Rodgin Cohen over at Sullivan & Cromwell is representing AIG. A team from Debevoise & Plimpton featuring insurance industry group co-chair Nick Potter is also understood to be advising the insurer on additional pieces on its 'for sale' list.

Just to make the party even more crowded, a team from Milbank Tweed Hadley & McCloy is advising AIG on the sale of its aircraft leasing business, ILFC.

Heady days. As one of the lawyers involved put it: "AIG on its own takes a lot of the oxygen out of the room".

Maybe after this week, people will get a chance to draw breath.

matt.byrne@thelawyer.com

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Wednesday, October 1, 2008

The Old Lady's old boy

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LAWYER NEWS DAILY - 01/10/2008
===========================================================
The Old Lady's old boy
-----------------------------------------------------------
Nobody likes losing good partners, but if you're going to have one poached by anybody, the Bank of England is about as good as it gets.

Yes, not 24 hours after Freshfields announced its role advising the Bank on its role in the Bradford & Bingley rescue, corporate partner Graham Nicholson has moved over to become its legal chief (see story).

Nicholson is a Freshfields veteran, serving at the firm for 27 years.

And with the Bank already a long-standing Freshfields client under Dame Juliet Wheldon, Nicholson's predecessor, it looks set to remain tied to the magic circle firm for some time. (Either that or Nicholson will disappear from an awful lot of Christmas card lists).

After 37 years at Freshfields, including a spell as managing partner, Nicholson could arguably be said to deserve a break. But with the Bank set to play a pivotal role in, well, the rescue of the British economy, he's likely to be busy for quite a while yet.

Which is good news for his old colleagues.

-----------------

Plus: the Middle East might be tax free and sunny, but what's it like to be a gay lawyer where being gay is illegal? All that and four new special reports on our Middle East page.

-----------------------------------------------------------
lawyernewsdaily@thelawyer.com
==========================================================
==========================================================
BREAKING NEWS
==========================================================

01-October-2008
Freshfields partner to head Bank of England legal team
http://www.thelawyer.com/cgi-bin/item.cgi?id=134967&d=415&h=417&f=416
-----------------------------------------------------------
01-October-2008
Firms line up for MFI rescue
http://www.thelawyer.com/cgi-bin/item.cgi?id=134971&d=415&h=417&f=416
-----------------------------------------------------------
30-September-2008
Cobbetts to cut 40 jobs
http://www.thelawyer.com/cgi-bin/item.cgi?id=134964&d=415&h=417&f=416
-----------------------------------------------------------
30-September-2008
Shoosmiths to launch in Manchester
http://www.thelawyer.com/cgi-bin/item.cgi?id=134963&d=415&h=417&f=416
-----------------------------------------------------------
30-September-2008
Firms set up financial crisis response groups
http://www.thelawyer.com/cgi-bin/item.cgi?id=134962&d=415&h=417&f=416
-----------------------------------------------------------
30-September-2008
Stibbe lands role on second Belgian bank bail out
http://www.thelawyer.com/cgi-bin/item.cgi?id=134960&d=415&h=417&f=416
-----------------------------------------------------------
30-September-2008
Facebook hires former White House man as general counsel
http://www.thelawyer.com/cgi-bin/item.cgi?id=134957&d=415&h=417&f=416
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