Georgina Stanley

April 06, 2011 | International Edition

Clifford Chance (CC) has topped Mergermarket's European deal rankings by volume for the first three months of 2011 - a quarter that saw deal volumes fall both globally and in Europe. The magic circle law firm jumped from sixth place in Europe at Q1 2010 to first place in 2011, with roles on 43 deals worth $34.6bn (£21.3bn). These include transactions such as Criteria CaixaCorp's takeover of the banking business of majority owner La Caixa, worth around $13bn (£8bn).

By Georgina Stanley

3 minute read

April 05, 2011 | Legal Week

Given M&A trends clearly reflect what's happening in the global economy, Mergermarket's latest quarterly M&A data covering the first three months of the 2011 calendar year largely confirms the general feeling of uncertainty in the market currently. While there has been a visible increase in private equity mandates and big-ticket transactions such as AT&T and T-Mobile and BP/Rosneft, Mergermarket's data shows deal volumes are broadly down on both the equivalent quarter last year and Q4 2010 - leaving law firms' corporate practices facing another uninspiring year. Even those deal markets that have so far seemed to defy the impact of the recession, such as the Middle East and Africa and Asia, saw bid volumes down significantly. In Africa and the Middle East, volumes were down by 25% in Q1 2011 compared with the last quarter of 2010, and by 30% looking at Q1 last year, with 58 transactions worth $11.4bn (£7.1bn). Meanwhile, volumes fell by nearly 32% in the Asia-Pacific region between Q4 2010 and the beginning of 2011, and by 8.2% looking at January to March last year.

By Georgina Stanley

14 minute read

April 05, 2011 | International Edition

Given M&A trends clearly reflect what's happening in the global economy, Mergermarket's latest quarterly M&A data covering the first three months of the 2011 calendar year largely confirms the general feeling of uncertainty in the market currently. While there has been a visible increase in private equity mandates and big-ticket transactions such as AT&T and T-Mobile and BP/Rosneft, Mergermarket's data shows deal volumes are broadly down on both the equivalent quarter last year and Q4 2010 - leaving law firms' corporate practices facing another uninspiring year. Even those deal markets that have so far seemed to defy the impact of the recession, such as the Middle East and Africa and Asia, saw bid volumes down significantly. In Africa and the Middle East, volumes were down by 25% in Q1 2011 compared with the last quarter of 2010, and by 30% looking at Q1 last year, with 58 transactions worth $11.4bn (£7.1bn). Meanwhile, volumes fell by nearly 32% in the Asia-Pacific region between Q4 2010 and the beginning of 2011, and by 8.2% looking at January to March last year.

By Georgina Stanley

3 minute read

March 22, 2011 | International Edition

Too much expectation can sometimes be a bad thing. Take libel reform. Given that campaigners have for years sought substantive changes to defamation laws, the emergence last week of a draft bill delivering reform should have been a good thing. Instead, the reforms have managed the neat track of leaving many practising lawyers grumbling that it merely codifies current case law (a debatable point) while supporters of the status quo have howled with indignation.

By Georgina Stanley

4 minute read

March 22, 2011 | Legal Week

Too much expectation can sometimes be a bad thing. Take libel reform. Given that campaigners have for years sought substantive changes to defamation laws, the emergence last week of a draft bill delivering reform should have been a good thing. Instead, the reforms have managed the neat track of leaving many practising lawyers grumbling that it merely codifies current case law (a debatable point) while supporters of the status quo have howled with indignation.

By Georgina Stanley

7 minute read

March 17, 2011 | Legal Week

Given last week's headline-grabbing arrest of property tycoons Robert and Vincent Tchenguiz as part of a Serious Fraud Office (SFO) investigation into the collapse of Icelandic bank Kaupthing, there's no doubt which topic dominated discussion at the mammoth real estate schmooze-fest that is Marche International des Professionnels d'Immobilier (MIPIM). But while even in their absence the Tchenguiz brothers' yacht party was clearly the place to be in Cannes, property lawyers more generally are not in the mood for parties right now. As one partner comments: "The one night we went to Hotel Martinez it was empty as everyone had gone somewhere cheaper... we're still a long way from the exuberance of pre-2007, after all."

By Georgina Stanley

12 minute read

March 17, 2011 | International Edition

Given last week's headline-grabbing arrest of property tycoons Robert and Vincent Tchenguiz as part of a Serious Fraud Office (SFO) investigation into the collapse of Icelandic bank Kaupthing, there's no doubt which topic dominated discussion at the mammoth real estate schmooze-fest that is Marche International des Professionnels d'Immobilier (MIPIM). But while even in their absence the Tchenguiz brothers' yacht party was clearly the place to be in Cannes, property lawyers more generally are not in the mood for parties right now. As one partner comments: "The one night we went to Hotel Martinez it was empty as everyone had gone somewhere cheaper... we're still a long way from the exuberance of pre-2007, after all."

By Georgina Stanley

4 minute read

March 01, 2011 | International Edition

Given the initial scepticism that greeted the flashy launch of Greenberg Traurig Maher (GTM), the first thing that must be acknowledged is that the firm has defied critics to build a large practice at an astonishing pace. With 27 lateral partner hires joining since its launch was announced in June 2009, the firm has made more hires in the last 18 months than all other US firms have managed in the last five years bar Reed Smith. US firms have often promised this kind of aggressive growth but rarely, if ever, has it been delivered.

By Georgina Stanley

4 minute read

March 01, 2011 | Legal Week

Given the initial scepticism that greeted the flashy launch of Greenberg Traurig Maher (GTM), the first thing that must be acknowledged is that the firm has defied critics to build a large practice at an astonishing pace. With 27 lateral partner hires joining since its launch was announced in June 2009, the firm has made more hires in the last 18 months than all other US firms have managed in the last five years bar Reed Smith. US firms have often promised this kind of aggressive growth but rarely, if ever, has it been delivered.

By Georgina Stanley

32 minute read

February 08, 2011 | Legal Week

The Ministry of Justice may have pushed back the implementation of the Bribery Act after an intense period of industry lobbying, but companies shouldn't sit back and look forward to their next corporate jolly just yet. The message from advisers is clear: the delay in publishing the guidelines is just that - a delay. Despite the protests, the best companies should expect from the Government is clarification and further guidance - not the substantive overhaul in the law some businesses may have been longing for. "It's inconceivable that it will come into law in any fundamentally different way," says Pinsent Masons partner and co-author of thebriberyact.com, Barry Vitou. "The UK has been subjected to widespread, justified international criticism that our existing patchwork of anti-bribery laws aren't fit for purpose. The US already thinks nothing of prosecuting overseas businesses and if our laws don't change, they'll just do it for us."

By Georgina Stanley

7 minute read