Legal Week

August 10, 2009 | International Edition

Yes, things are bad out there. But this isn't just about the current economy, stupid. It's about the long-term survival of the law firm as we know it. No matter how much we would like to dismiss the recession-fed clamour that the end - of the billable hour, and the highly leveraged business model built upon that eroding foundation - is nigh, we shouldn't do so. Things are going to get worse in the years ahead, not better. If we don't fundamentally change how we do business, we won't - and don't deserve to - survive. Don't just take my word for it, though. Pay attention to Richard Susskind instead.

By Legal Week

9 minute read

August 10, 2009 | International Edition

Linklaters has topped the Thomson Reuters European debt and equity capital markets rankings, advising managers on twice as many equity deals over the first half of 2009 as its nearest rival and overtaking Allen & Overy (A&O) in the debt rankings. The magic circle firm advised underwriters on 21 European equity capital markets (ECM) deals worth $36.9bn (£22.2bn) during the first six months of this year, with key deals including a role advising JP Morgan and Goldman Sachs on HSBC's £12.5bn rights issue - the largest so far this year.

By Legal Week

3 minute read

August 10, 2009 | International Edition

Wedlake Bell has promoted four lawyers to the partnership, taking the firm to 43 partners in total. The promotions, which took effect from the beginning of the month (1 August) saw the firm add one partner apiece in residential property, private client, employment and commercial, IT and IP.

By Legal Week

1 minute read

August 10, 2009 | International Edition

K&L Gates has boosted its Singapore office with the hire of Watson Farley & Williams Singapore litigation and arbitration head Raja Bose. Bose will take up a management position at the expansive US firm, heading the international arbitration practice across Asia as well as launching the practice in Singapore.

By Legal Week

2 minute read

August 10, 2009 | International Edition

Ashurst is set to bolster its London restructuring team with the hire of White & Case partner Dan Hamilton. Hamilton - who was appointed to lead the US firm's London financial restructuring and insolvency practice last year - has informed the White & Case partnership that he will be leaving to join Ashurst.

By Legal Week

2 minute read

August 10, 2009 | International Edition

DLA Piper has appointed a new international board member, handing a role to its Kuwait managing partner. Abdul Aziz Al-Yaqout, who has headed the transatlantic firm's Kuwait offering since June this year, joins the international board as an elected member. He takes the place of litigation partner Janet Legrand, who was named senior partner of DLA Piper International in June. Legrand replaced Peter Wayte as senior partner.

By Legal Week

2 minute read

August 10, 2009 | International Edition

"Do we really need to spend money on full-on corporate entertaining to win clients? To what extent do boxes at Lord's, days out grouse shooting or tickets to rugby internationals actually cement client relationships? Oftentimes it can feel like the life of a partner is little more than a stomach-increasing succession of expensive lunches and dinners staged in the hope of winning work and keeping the teams working. To what extent should I be worried that my firm's business development budget has been slashed and coffee, rather than lunching (let alone grouse shooting) is the order of the day?"

By Legal Week

1 minute read

August 07, 2009 | International Edition

Several top commercial barristers' chambers are set to increase their pupillage salaries dramatically. Leading the way is One Essex Court, which will pay each of its four new recruits commencing pupillage in October 2010 a salary of £60,000 - a 33% increase on the £45,000 award that the set's pupils currently receive.

By Legal Week

2 minute read

August 07, 2009 | International Edition

Linklaters has confirmed that it is in discussions with a former employee relating to the redundancy programme it carried out earlier this year. Referring to reports on RollonFriday that the firm was facing legal action from at least one former staff member, Linklaters confirmed that it is in discussions with one ex-employee as a result of their redundancy. However, the firm would not be drawn on the details.

By Legal Week

2 minute read

August 07, 2009 | International Edition

Herbert Smith has advised the European Bank for Reconstruction and Development (EBRD) on its largest single loan since it was founded in 1991 – a $500m (£295m) financing in Russia.

By Legal Week

2 minute read