Friederike Heine

July 31, 2012 | International Edition

Bankers involved in the Libor-rigging scandal could face jail terms after the Serious Fraud Office (SFO) confirmed that existing legislation will suffice to bring criminal actions against banks and individuals. In a statement, the SFO said: "The Director of the Serious Fraud Office, David Green QC, is satisfied that existing criminal offences are capable of covering conduct in relation to the alleged manipulation of Libor and related interest rates. The investigation, announced on 6 July, involves a number of financial institutions."

By Friederike Heine

3 minute read

July 27, 2012 | International Edition

LG has picked up a lead role advising the British Bankers Association (BBA) on an independent investigation into the Libor rigging scandal. The firm, which is fielding a team led by employment partner Helga Breen, was appointed last week after the BBA confirmed an investigation prompted by evidence of rate rigging gathered by the Financial Services Authority (FSA), the US Commodity Futures Trading Commission and the US Department of Justice (DoJ).

By Friederike Heine

2 minute read

July 27, 2012 | International Edition

The High Court has overturned the conviction of a man who tweeted a joke about blowing up an airport, bringing an end to the long-running 'Twitter joke trial'. The conviction of Paul Chambers for sending a menacing electronic communication via Twitter was challenged earlier this year (8 February) by his barrister Ben Emmerson QC of Matrix Chambers, instructed by Preiskel & Co head of media David Allen Green.

By Friederike Heine

2 minute read

July 26, 2012 | International Edition

There is little doubt that Ashurst has been one of the worst-affected City players since the 2008-09 recession. The firm has been further weighed down in recent years by a protracted round of partner exits and a continued struggle to build upon the sizeable US structured finance practice it acquired in 2009.

By Friederike Heine

2 minute read

July 26, 2012 | International Edition

The UK's top 50 law firms have grown their partner ranks by almost 6% during the past financial year, fuelled by major merger deals and partnership expansion in the face of an uncertain market.

By Friederike Heine

3 minute read

July 26, 2012 | International Edition

Norton Rose and Ashurst have emerged as the fastest-growing firms over 2011-12 in Legal Week's global rankings, which take into account revenues generated across both UK and international profit centres tied with the firms.

By Friederike Heine

2 minute read

July 26, 2012 | International Edition

Asia and litigation tipped as growth targets in Legal Week business confidence survey. Friederike Heine reports

By Friederike Heine

4 minute read

July 25, 2012 | International Edition

Senior figures in the legal profession have called for lower taxes and a less bureaucratic regulatory regime to protect the UK's £167bn professional services industry from growing threats posed by emerging economies. The call is contained in a report published this week by the Professional and Business Services Group (PBSG), a body established in March 2010 whose membership includes the senior partners of Linklaters and Freshfields Bruckhaus Deringer, Robert Elliott (pictured) and Will Lawes.

By Friederike Heine

2 minute read

July 25, 2012 | International Edition

Baker & McKenzie is set to launch a new office in Morocco with a team led by corporate partner Kamal Nasrollah, who joins from the local office of French law firm August & Debouzy. Nasrollah will head the new Casablanca base, which will become Bakers' third office on the African continent alongside Cairo and Johannesburg. He will join the firm alongside four associates, two of whom will be based in Paris.

By Friederike Heine

2 minute read

July 22, 2012 | International Edition

The London office of US firm O'Melveny & Myers has taken the lead role for longstanding client Coller Capital on the $5.5bn (£3.5bn) final closing for its sixth private equity fund. Coller VI, which exceeded its initial $5bn (£3.2bn) target, is thought to be the second-largest secondaries fundraising ever.

By Friederike Heine

2 minute read