QC appointments have declined for the fourth year running with the number of applicants also on a downward path.
In this year’s annual silk round, announced on 27 February, just 84 QCs were appointed from a total of 183 applicants. This was down from 88 awards in 2012 and 120 in 2011 from 214 and 251 applications respectively.
Continue reading “Falling QC appointments reflect fears for criminal Bar’s prospects”
Linklaters and Davis Polk & Wardwell have won a settlement agreement in the long-running Lehman Brothers bankruptcy that ‘unlocks’ $9bn of assets and sees them returned to the bank’s customers.
Linklaters acted for administrators PwC, an instruction the firm has enjoyed since Lehman collapsed in 2008, on all English law matters.
The Magic Circle firm has fielded a large team acting for PwC, including restructuring partners David Ereira, Tony Bugg and Richard Holden in London and litigation partner James Warnot in New York.
Continue reading “Davis Polk and Linklaters win landmark Lehman settlement”
White & Case has launched its first office in Spain, recruiting Latham & Watkins’ Spanish corporate head Juan Manuel de Remedios to joint lead its new Madrid office as an executive partner.
The Spanish launch comes as the firm concentrates on strengthening its global footprint to take advantage of Spain’s strong links to Latin America.
White & Case Spanish practice head Michael Doran, who is based in London, said the Madrid launch ‘provides our clients with local knowledge coupled with access to our global network’.
Continue reading “White & Case launches in Madrid with Latham hire”
Addleshaw Goddard and Nabarro have confirmed that they were in merger talks at the start of the year but the former is understood to have called the talks off.
In separate statements released by both firms, Addleshaws and Nabarro said that discussions would not progress any further.
Nabarro said: ‘Nabarro and Addleshaw Goddard did hold very preliminary conversations to explore a possible merger. However, both firms agreed not to pursue discussions further.’
It is thought that Addleshaws decided that there weren’t sufficient business interests for the firm to merge with Nabarro. One former Nabarro partner said the talks were being held before Christmas, with the firms exchanging financial information, although both firms declined to comment on this point.
Continue reading “Addleshaw Goddard and Nabarro end merger talks”
Media boutique Wiggin has officially opened its doors in Brussels, as the firm’s pursuit of sustainable alternative revenue streams sets a benchmark for non-legal services for law firms.
The Brussels office, which launched in February, is key to developing a distinct arm of the firm’s business, Incopro, into Europe. Incopro was launched in March 2012 as a partnership between Wiggin’s rights protection practice (led by partner Simon Baggs) and Bret Boivin, formerly of Warner Bros and NBC Universal, to provide content protection services to media companies.
Continue reading “Wiggin opens Brussels office in push for alternative income”
Scotland’s Semple Fraser has gone into administration, with Tom MacLennan and Kenny Craig, partners with accountants RSM Tenon, appointed joint administrators.
The move comes less than a week after the firm announced its intention to appoint administrators on 6 March. Although a raft of firms have stepped in to take over parts of Semple Fraser’s business, 62 people at the firm, including lawyers and support staff, have been made redundant.
‘It is with great regret that after having considered every possible option to secure the future of the business it was clear that administration is the only option,’ said Simon Etchells, managing partner of the firm.
DWF acquired Cobbetts’ work in progress (WIP) from KPMG in February for £3.8m as details emerge of the Manchester firm’s fire sale.
KPMG was instructed on 17 January to start administration proceedings, although Cobbetts’ lender, Lloyds TSB, had engaged KPMG in September to formulate contingency plans as the firm was beginning to falter. Continued trading was dependent on the support of Lloyds TSB, which was only prepared to provide monies to pay January wages and other outgoings if Cobbetts granted security.
Continue reading “Details emerge of terms of Cobbetts’ fire sale”
BT and Carillion have separately extended their legal arms recently to offer more external legal services.
BT Law launched in early March after the telecoms giant received an alternative business structure (ABS) licence from the Solicitors Regulation Authority (SRA). BT Law will provide services to customers in the motor claims market and will expand into other areas such as employment law and public liability.
Continue reading “BT and Carillion to expand external legal services”
The software firm’s legal head shares his unique viewpoint after a temporary stint as chief executive.
Tom Kilroy stands out in several notable regards from the ranks of prominent general counsel (GC). For one, the down-to-earth legal head of software firm Misys is one of a very select band of senior in-house counsel who have turned to social media as a means of communicating with peers.
As such, his ‘GC’s Eye View’ blog has built a considerable audience on the back of witty pieces on the realities of legal practice and the management of an in-house team, though work pressures have meant that in recent months Kilroy has turned more to commenting on the legal industry via Twitter, where he has amassed well over 2,000 followers.
