Claire Ruckin

June 01, 2010 | International Edition

LG is set to overhaul its partnership deed for the first time in over a decade, including making a number of changes to partner voting rights. The UK top 50 firm has consulted specialist partnership counsel on the proposed changes, which are set be unveiled to the partnership.

By Claire Ruckin

2 minute read

June 01, 2010 | International Edition

Memery Crystal has hired a new partner to head up its intellectual property (IP) group, taking on Eversheds City IP chief John Hull. Hull joined the City firm earlier this week (1 June) as head of the group, replacing David Hansel who left earlier this year to set up his own practice.

By Claire Ruckin

2 minute read

June 01, 2010 | International Edition

Memery Crystal has advised Gulf Keystone Petroleum on one of the largest Alternative Investment Market (AIM) fundraisings of the year so far. Corporate partner Nick Davis led a team from the City law firm advising long-term client Gulf Keystone on the placing of new common shares on AIM, a move that saw the oil and gas exploration and production company raise £114m.

By Claire Ruckin

2 minute read

June 01, 2010 | International Edition

Charles Russell could have to pay out as much as £1m in two related negligence claims after providing defective advice to a pension scheme. In a judgment handed down last month (13 May) by Justice Warren in the Royal Courts of Justice, Charles Russell was found to have given negligent advice in relation to the Snell & Wilcox Pension Plan.

By Claire Ruckin

2 minute read

June 01, 2010 | International Edition

City law firms may help to fund the Ministry of Justice (MoJ) under new proposals to pool all client money into a nationwide account. A joint Bar Council and Law Society committee is debating plans to create a single account into which all firms would be obliged to deposit client money, with a percentage of the interest accrued siphoned off by the Government.

By Claire Ruckin

2 minute read

June 01, 2010 | International Edition

DLA Piper has pushed back plans to consult its partners over broad-ranging proposals to overhaul its partnership and remuneration structure. The firm has opted to delay sounding out its partners on proposals put forward by consultants at PricewaterhouseCoopers (PwC) in order to make a number of changes to the suggested framework.

By Claire Ruckin

2 minute read

May 28, 2010 | International Edition

Eversheds has posted a 28% increase in profits per equity partner (PEP) as the firm becomes the first of the UK top 10 to release its 2009-10 financial results. PEP rose to £517,000 from last year's figure of £404,000, while total profits also grew by 20%, with all staff and lawyers set to receive a £1,000 firmwide bonus payout in August.

By Claire Ruckin

2 minute read

May 27, 2010 | International Edition

Irwin Mitchell has made up two non-lawyers to the firm's equity, becoming one of the first UK top 50 practices to convert to Legal Disciplinary Partnership (LDP) status. Financial director Mark Dakin and costs manager Steven Green have become members of the firm's equity partnership after the firm converted to LDP status on 1 May.

By Claire Ruckin

2 minute read

May 27, 2010 | International Edition

Allen & Overy (A&O) private client spin-off Maurice Turnor Gardner (MTG) has bolstered its ranks with the hire of two new partners for its trusts and pensions practice. Jenny McKeown and Helena Berman are set to join the boutique's partnership in September from pensions and HR consultancy Mercer, where they are currently senior in-house pensions litigators.

By Claire Ruckin

2 minute read

May 26, 2010 | International Edition

The Law Society of Scotland (LSS) is to retain both its trade union and regulatory roles following a members' vote, in the latest stage of the heated debate regarding legal services reform north of the border. Seventy-three percent of members voted in favour of the LSS maintaining its dual role when asked a single question: 'Should the Law Society of Scotland as statutory regulator continue to be responsible for promotion of the interests of, and the representation of, solicitors in Scotland?'

By Claire Ruckin

2 minute read