Legal Week

July 21, 2009 | International Edition

Cleary Gottlieb Steen & Hamilton has made a rare hire in the City, bringing in former Allen & Overy (A&O) intellectual property (IP) partner Colin Pearson as a consultant. The addition of Pearson, who will start his full-time role in September, represents the most senior IP hire the London office has made to date, having historically used associates to staff the practice area.

By Legal Week

2 minute read

July 21, 2009 | International Edition

The legal profession has been singled out as too socially exclusive by a government report on fair access to professions. The report, compiled by a panel chaired by former cabinet minister Alan Milburn, calls on occupations such as lawyers and doctors to widen access to their professions after becoming increasingly more exclusive in recent decades.

By Legal Week

2 minute read

July 21, 2009 | International Edition

Squire Sanders & Dempsey has bolstered its German practice with a three-lawyer team from Faegre & Benson in Frankfurt. The firm has hired Faegre corporate partner Karl Walter and banking partner Manfred Baumbach as a partner and of counsel respectively. Meanwhile special counsel Louis Wakatsuki, a corporate lawyer, is also joining as of counsel.

By Legal Week

2 minute read

July 21, 2009 | International Edition

BPP Law School has announced a tie-up with Withers which will see the City firm send its trainees to the school to study the Graduate Diploma in Law and the Legal Practice Course (LPC). Withers trainees will study the courses at BPP's centres in London, Leeds or Manchester, attending lectures and tutorials alongside students with training contracts at other firms.

By Legal Week

2 minute read

July 21, 2009 | International Edition

TLT has seen its partner profits drop by 26% for 2008-09, while revenue has taken a 5% hit. Profits per equity partner (PEP) at the Bristol-based firm fell to £198,000 from the previous year's mark of £268,000. The firm also saw revenues decrease over the year, with fee income now standing at £39m, a 4.85% drop on last year when the firm pushed past the £40m mark to £41m.

By Legal Week

2 minute read

July 21, 2009 | International Edition

Skadden Arps Slate Meagher & Flom and Paul Weiss Rifkind Wharton & Garrison have taken lead roles in ailing financial services firm CIT Group's negotiations to stave off bankruptcy, reports The Am Law Daily. Under the terms of the proposal, approved late Sunday (19 July), CIT will receive $3bn (£1.8bn) from some of its largest bondholders. The loan, which has a two-and-a-half year maturity and a relatively high interest rate, is expected to give CIT some breathing room as it embarks on a global restructuring.

By Legal Week

3 minute read

July 20, 2009 | International Edition

Stephenson Harwood has boosted its corporate practice with the hire of former Ashurst partner Duncan Stiles. Stiles will join the top 40 UK firm on 3 August after leaving Ashurst earlier this year. He had spent 18 years at the firm, making partner in 2000.

By Legal Week

1 minute read

July 20, 2009 | International Edition

Corporations are using fewer law firms because short-staffed corporate legal departments have little time to manage outside firms, according to new research. The study, carried out by BTI Consulting Group, canvassed 550 companies with average revenues of £16bn and average annual legal spend of £12m.

By Legal Week

2 minute read

July 20, 2009 | International Edition

Halliwells is to lose a heavyweight corporate trio to Davies Arnold Cooper (DAC), leaving the national firm with just one corporate partner in London. Former senior partner Clive Garston - currently a consultant at the top 40 firm - is set to join DAC in September alongside London corporate partners Ian Brent and Steven Raize. They will be joined by Halliwells corporate solicitor Melissa Needham.

By Legal Week

2 minute read

July 20, 2009 | International Edition

Reed Smith and Olswang have landed plum roles advising on talks between Channel 4 and BBC Worldwide. The two broadcasters are in advanced talks to set up a joint venture intended to secure the future of Channel 4.

By Legal Week

2 minute read