Claire Ruckin

November 17, 2010 | International Edition

Maclay Murray & Spens reduced its net debt by more than 80% during the last financial year, according to the firm's latest limited liability partnership (LLP) filings. During 2009-10 the big four Scots firm saw net debt come down from £3.4m to £547,000 by the firm's year end of 31 May, according to the filings with Companies House. Cash at the bank and in hand increased to £935,000, up from £199,000 the previous year.

By Claire Ruckin

2 minute read

November 16, 2010 | International Edition

Herbert Smith, Linklaters and CMS Cameron McKenna have taken lead advisory roles on the £2.1bn disposal of the UK's first high-speed railway to two Canadian pension funds with the deal marking the first significant privatisation under the new coalition Government. Herbert Smith advised longstanding client London and Continental Railways (LCR) on its sale of the Channel Tunnel rail link - High Speed 1 - with global head of infrastructure Patrick Mitchell advising Government-owned LCR.

By Claire Ruckin

2 minute read

November 16, 2010 | International Edition

Unsung it may have been, but a deal to unite Hammonds and Squire Sanders & Dempsey has now arrived, less than three months after news of the talks was announced. With the tie-up set to go live on 1 January 2011, the question is not whether it can live up to expectations - rivals have not been kind - but whether the deal can deliver on its own terms. On that basis, the logic of the tie-up is understandable, with partners seeing a neatly-fitting global network as a key benefit. Squire Sanders will gain a sizeable London presence and some coverage across Western Europe in Paris, Madrid and Italy while also benefiting from a beefed-up presence in Brussels and a Berlin office to complement its Frankfurt base.

By Claire Ruckin

4 minute read

November 15, 2010 | International Edition

Lawyers are more than seven times as likely to have been privately educated than the general population, according to new research. A survey of almost 50,000 City professionals, conducted by legal recruitment consultancy Laurence Simons, found that 15% of lawyers were educated at the UK's 250 public schools, compared to just 2% of the general population. The figures add further weight to claims that social exclusivity is increasing in the legal sector.

By Claire Ruckin

2 minute read

November 10, 2010 | International Edition

Hammonds and Squire Sanders & Dempsey are set to start integrating their practices and partner pay after securing the vote of more than 95% of their combined partnerships to launch as Squire Sanders Hammonds in the new year. The decision means Hammonds partners will be remunerated entirely on merit by 2013, in keeping with Squire Sanders' existing practice. The move to a fully merit-based system at Squire Sanders Hammonds will begin to be phased in from 2012.

By Claire Ruckin

3 minute read

November 10, 2010 | International Edition

Pinsent Masons has posted a marginal increase in revenues for the first half of the 2010-11 financial year. The UK top 15 firm's total fee income for the first six months of the year stood at £98.3m, 0.5% up from the figure of £97.8m taken in during H1 last year. Pinsents managing partner David Ryan said: "I am pleased with the progress that we have made so far.

By Claire Ruckin

2 minute read

November 09, 2010 | International Edition

Wragge & Co has posted a double-digit increase in revenues for the first half of the financial year. The increase of 15% takes Wragges' fee income for the six-month period ending 31 October to approximately £55m, up from the figure of £47.5m reported last year. Senior partner Quentin Poole said that the increase was due to growth in both the UK and the firm's new Paris offering, which opened earlier this year after the hire of a 10-partner team from Wragges' French referral firm Lefevre Pelletier & Associes.

By Claire Ruckin

2 minute read

November 09, 2010 | International Edition

Former Eversheds chairman Alan Jenkins is set to retire from the firm at the end of the financial year in April 2011. His departure comes after Jenkins lost his chairman post to John Heaps in May this year following a contested election. Jenkins chaired the firm for two three-year terms. He was first elected in 2004 and was re-elected in an uncontested vote in 2007.

By Claire Ruckin

2 minute read

November 08, 2010 | International Edition

Bar Council chairman Nicholas Green QC has warned of growing concerns over the employment prospects for aspiring advocates completing their barrister training. Speaking at the 25th annual Bar Council conference on Saturday (6 November), Green told delegates he had "real qualms" about a system of education that encourages Bar Professional Training Course (BPTC) providers to educate more and more law students.

By Claire Ruckin

4 minute read

November 08, 2010 | International Edition

Hammonds and Squire Sanders & Dempsey will go ahead with their transatlantic merger on 1 January 2011, after securing the support of more than 95% of their combined partnership. All bar 17 of the firms' partners took part in the vote, with all voting in favour of the tie-up in a process that closed yesterday (7 November). The vote paves the way for the January launch of a top 50 global firm with combined revenues of around $625m (£386m).

By Claire Ruckin

4 minute read