Claire Ruckin

June 09, 2010 | International Edition

Walker Morris has taken a lead role on the £778m sale of Netto Foodstores to Asda. The Leeds-based firm advised Danish retail group Dansk Supermarked, a long-term client, on the sell-off of its Netto subsidiary to Asda, which is owned by US giant Walmart.

By Claire Ruckin

2 minute read

June 09, 2010 | International Edition

Eversheds is reviewing its presence in a number of jurisdictions and taking a closer look at emerging markets under proposals outlined at the firm's partnership conference. At the conference, which took place in London last month (20 May), China, India, Russia and Latin America were highlighted as priority jurisdictions for the firm.

By Claire Ruckin

2 minute read

June 09, 2010 | International Edition

Taylor Wessing is set to create an affiliated corporate services business to offer clients standardised work. The firm is in the early stages of setting up a business unit in its Cambridge office to offer clients more lower-cost options to handle work such as corporate due diligence.

By Claire Ruckin

2 minute read

June 09, 2010 | International Edition

Halliwells has arranged with its lender to delay repaying a number of professional practice loans in a bid to keep cash in the business. Following the departure of a number of partners, the national firm has agreed with its bank that in six individual circumstances it will delay paying back professional practice loans - money that individuals borrow from the bank to put into the firm on joining the equity. The money will now not be repaid in full until the former partners' official notice period has come to an end, even if the partner has left the firm before the notice period is up.

By Claire Ruckin

2 minute read

June 09, 2010 | International Edition

Pinsent Masons and Salans are taking steps to extend their alliance in a move that could see the firms' relationship become exclusive. The two firms' management met last month in Paris to discuss how they can progress the relationship. While neither firm ruled out a future merger, current discussions centre on how the two firms can work more closely together, including discussing making the year-old alliance exclusive.

By Claire Ruckin

2 minute read

June 08, 2010 | International Edition

Freshfields Bruckhaus Deringer has bolstered its London arm with the relocation of two partners to the firm's City headquarters. US-qualified finance partner Perry Sayles transferred to Freshfields' City derivatives and structured finance practice at the end of last month after spending two years seconded to the firm's Hong Kong office.

By Claire Ruckin

2 minute read

June 07, 2010 | International Edition

Freshfields Bruckhaus Deringer has entered into discussions with national firms Mills & Reeve and TLT Solicitors to establish a referral system ahead of an upturn in work. The magic circle firm has held discussions about sending out work to a select number of national firms including Mills & Reeve and TLT in a bid to boost efficiency levels.

By Claire Ruckin

2 minute read

June 03, 2010 | International Edition

Former McDermott Will & Emery partner Michael McFall has been found not guilty in the insider trading case brought against him by the Financial Services Authority (FSA). McFall was acquitted in Southwark Crown Court today (3 June) after a unanimous verdict was delivered by an 11-member jury. The jury took just an hour and a half to reach its verdict.

By Claire Ruckin

3 minute read

June 03, 2010 | International Edition

The Financial Services Authority (FSA) has handed out a record £33.32m fine to JP Morgan in the latest sign of a tougher regulatory stance from the City watchdog. The penalty, which was announced today (3 June), was handed out after JP Morgan failed to protect client money by keeping it with its own money for almost seven years between 2002 and 2009 following the merger of JP Morgan and Chase Manhattan.

By Claire Ruckin

4 minute read

June 02, 2010 | International Edition

Olswang has become the latest firm to announce its 2009-10 financial results, reporting a 38% increase in profits per equity partner (PEP). PEP rose to £420,000 in the last financial year, up from last year's figure of £305,000. Meanwhile, turnover at the UK top 50 firm increased by 2% to £91m, up from £89.2m in 2008-09.

By Claire Ruckin

2 minute read