Legal Week

July 16, 2009 | International Edition

A raft firms have landed roles advising on the £510m buyout of Pearl Group by acquisition vehicle Liberty International. Freshfields Bruckhaus Deringer, Simpson Thacher & Bartlett, Lovells, Clifford Chance (CC), Olswang and Greenberg Traurighave all won roles on the deal, which reduces Pearl's debts.

By Legal Week

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July 16, 2009 | International Edition

Hammonds and DLA Piper are among a number of top 50 law firms considering spreading their July tax bill out over a number of months to boost short-term cash flow. The firms are considering applying to HM Revenue & Customs to pay the biannual tax bill, due 31 July, over monthly installments over up to six months. They could be eligible for the HMRC scheme because their profits have dropped over the last year - although each firm applying to HRMC will be assessed on a case-by-case basis.

By Legal Week

2 minute read

July 16, 2009 | International Edition

DLA Piper has advised administrator Begbies Traynor on the sale of Southampton Football Club to Switzerland's Markus Liebherr. The deal, which was announced last week (8 July), saw DLA Piper London restructuring head Michael Fiddy advising Mark Fry and David Hudson - the administrators to Southampton Leisure Holdings - on its sale of Southampton FC to Liebherr, for an undisclosed sum.

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July 16, 2009 | International Edition

Former Denton Wilde Sapte corporate partner Richard Hierons has left the firm's partnership to launch a boutique. Hierons left the City firm's partnership last month to set up the boutique along with barrister Richard Southall, who joins from an in-house position.

By Legal Week

2 minute read

July 16, 2009 | International Edition

Freshfields Bruckhaus Deringer has come off General Electric's (GE) European M&A panel, Legal Week has learnt. The magic circle firm was one of five firms appointed in 2007 to advise the energy giant on European M&A matters. However, it came off the panel late last year through mutual agreement.

By Legal Week

2 minute read

July 16, 2009 | International Edition

Freshfields Bruckhaus Deringer has brought in its first major lateral hire in New York since the magic circle law firm launched its US litigation practice earlier this year. David Onorato is to join the New York office as a partner in the litigation practice. He was previously deputy general counsel and director of litigation with Bank of America (BoA).

By Legal Week

2 minute read

July 16, 2009 | International Edition

Specialist after-the-event insurance broker The Judge has set up in Asia after entering into a partnership with international broker Lockton. The tie-up with one of the world's largest privately-owned brokers means The Judge will offer litigation insurance in Hong Kong and Singapore.

By Legal Week

2 minute read

July 16, 2009 | International Edition

Barclays has asked all of its newly-appointed panel firms to sign up to a range of diversity initiatives - expanding a pilot introduced for its main general advisory panel three years ago across some 50 firms. General counsel Mark Harding confirmed that he has asked all of the firms on its main panel, as well as those on its 10 specialist panels, to confirm to the bank their diversity and inclusion policies, including details of how they measure and manage diversity.

By Legal Week

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July 16, 2009 | International Edition

It's now more than a decade since major plcs began using the panel model to manage their relationships with law firms. As Legal Week has noted before, despite the rapid adoption of the model in Europe, it has plainly failed to deliver on one of supposed benefits: securing value and containing fee inflation.

By Legal Week

3 minute read

July 16, 2009 | International Edition

Weil Gotshal & Manges' London office has helped secure a new £750m credit arrangement for British Sky Broadcasting (BSkyB). The US-based law firm advised the broadcaster on the syndicated credit facility, which is available for drawing from 30 July 2010, replacing an existing £1bn facility.

By Legal Week

2 minute read