Legal Week

July 23, 2009 | International Edition

Ashurst has won the lead European adviser role for Intel on its appeal against one of the largest fines ever dished out by the European Commission (EC). Last May Intel was handed a penalty of €1.06bn (£914m) by the EC for anticompetitive behaviour and abusing its leading position in the market for the production of microchips, in a case which dates back to the beginning of the decade.

By Legal Week

2 minute read

July 23, 2009 | International Edition

FoxMandal Little is considering external funding options as the firm grapples with an increase in late payments by overseas clients. The Indian law firm has admitted that the majority of its Delhi-based fee earners were not paid last month after around 70% of the firm's overseas clients failed to pay bills on time. The firm said that many payments had been delayed from a minimum of around 90 days to up to six months.

By Legal Week

2 minute read

July 23, 2009 | International Edition

Slaughter and May and Simpson Thacher & Bartlett have landed lead roles advising on a joint venture between media giant Bertelsmann and US private equity house Kohlberg Kravis Roberts & Co (KKR). Slaughters was drafted in to advise the German media group on the arrangement, which will see KKR putting in up to €250m (£214m) to acquire catalogues of songs.

By Legal Week

2 minute read

July 23, 2009 | International Edition

It's not easy to write about private equity right now – half of London's buyout partners seem to have headed to the beach early and, in the current market, who can blame them? With deal volumes plummeting and brand name houses including Candover, Permira and Terra Firma going through very public difficulties, there does not seem much reason to stay in the office.

By Legal Week

3 minute read

July 23, 2009 | International Edition

Lovells has advised long-standing client SABMiller on a €1bn (£859m) bond issue as the drinks giant bids to raise cash and repay debt. The issue, which is part of the brewer's €5bn (£3bn) medium-term note programme, saw capital markets partner Andrew Carey and corporate partner Richard Brown heading the Lovells team acting for SABMiller, assisted by senior associates Adam Hastings and John Holtrichter.

By Legal Week

1 minute read

July 23, 2009 | International Edition

The 2008 professional indemnity insurance (PII) renewal season came as a surprise for many legal firms. It was the first year for some time that premium rates went up. PII protects the insured and its clients against the cost of defending claims or paying damages if errors or omissions are made by the practice. Despite forecasts in previous years that cover would become more expensive, competition had continued to push rates down to unprofitable levels and solicitors became accustomed to paying ever-decreasing prices.

By Legal Week

8 minute read

July 23, 2009 | International Edition

With the severity of the recession beginning to bite across the profession, law firms and their insurers are naturally concerned about the claims and losses that may be coming their way. This article looks at one of the areas under scrutiny: pensions.

By Legal Week

8 minute read

July 23, 2009 | Legal Week

It's not easy to write about private equity right now – half of London's buyout partners seem to have headed to the beach early and, in the current market, who can blame them? With deal volumes plummeting and brand name houses including Candover, Permira and Terra Firma going through very public difficulties, there does not seem much reason to stay in the office.

By Legal Week

15 minute read

July 23, 2009 | International Edition

Travers corporate finance head Spencer Summerfield on advising in his sleep and cultivating sideburns

By Legal Week

3 minute read

July 23, 2009 | International Edition

Quietly changing third-party funding regulations have left a series of pitfalls for unwary solicitors. Jamie Carpenter reportsA quiet revolution has taken place in the law relating to third-party funding. Not so long ago, the idea of a party financing a claim in which it had no interest in return for a share of the proceeds would have been met with a cry of 'champerty', but under the banner of 'access to justice' parliament and the courts have, in recent years, opened the doors to forms of litigation funding which would have been unthinkable a generation ago.

By Legal Week

5 minute read