Legal Week

July 14, 2009 | International Edition

Bird & Bird has seen revenues soar by just under 30% during the last financial year in part boosted by a merger with a City boutique and a tie up with a Finnish firm. The top 25 firm has reported gross revenues of £186.3m during 2008-09, a 29.6% increase on the £143.7m brought in during 2007-08.

By Legal Week

2 minute read

July 14, 2009 | International Edition

Even in the turbulent days of last autumn when the financial pages of the newspapers seemed out of date by mid-morning the big issue was not how offshore firms would survive the immediate economic crisis, but what shape the equally inevitable regulatory backlash would take and how that would impact them in the medium term.

By Legal Week

4 minute read

July 13, 2009 | International Edition

Cleary Gottlieb corporate partner Ashar Qureshi unleashes his penchant for untrammelled eloquence

By Legal Week

4 minute read

July 13, 2009 | International Edition

Mayer Brown is to bolster its London finance practice with a trio of partner hires from UK firms. The international firm is bringing in Lee Cullinane, Nicola Marley and Graham Wedlake as partners in the City, with the hires taking the headcount in the London leveraged finance team to 10 and the wider finance practice to 16.

By Legal Week

2 minute read

July 13, 2009 | International Edition

Freshfields Bruckhaus Deringer has brought in its first major lateral hire since the magic circle firm launched its US litigation earlier this year. David Onorato is to join the New York office as a partner in the litigation practice, coming in from Bank of America where he was deputy general counsel and director of litigation.

By Legal Week

2 minute read

July 13, 2009 | International Edition

Mayer Brown partner Joseph Collins has been found guilty of conspiracy and four other charges in connection with a massive fraud at now-bankrupt Refco, writes the New York Law Journal. Collins, who testified in his own defence that he was kept in the dark about more than $2.4bn (£1.5bn) in debt hidden by officials at the financial services firm, bowed his head as the jury foreman on Friday (10 July) recited the guilty verdicts before Southern District of New York Judge Robert Patterson.

By Legal Week

5 minute read

July 13, 2009 | International Edition

The public sector is enjoying a spell of popularity - both among out-of-work City lawyers looking for jobs and partners hoping to drum up business from a sector still with some money to spend.

By Legal Week

5 minute read

July 13, 2009 | International Edition

It really is a sign of the times when partners at major City firms start complaining about the behaviour of their most cherished banking clients. In this case, as we reported last week, the complaint is about increasing demands for secondees but it comes against a backdrop of mounting pressure on the once-unquestioned relationship between banks and law firms. A series of panel reviews from major banks have ushered in far tougher terms as hard-pressed institutions demand lower rates, predictable costs and more flexibility from their lawyers.

By Legal Week

3 minute read

July 13, 2009 | Legal Week

It really is a sign of the times when partners at major City firms start complaining about the behaviour of their most cherished banking clients. In this case, as we reported last week, the complaint is about increasing demands for secondees but it comes against a backdrop of mounting pressure on the once-unquestioned relationship between banks and law firms. A series of panel reviews from major banks have ushered in far tougher terms as hard-pressed institutions demand lower rates, predictable costs and more flexibility from their lawyers.

By Legal Week

5 minute read

July 13, 2009 | International Edition

I am qualifying in September and my firm has made me an offer. However, the offer they have made is £30,000. I think that this is a pretty poor offer as I am being paid £29,000 as a trainee, and at the beginning of last year they were offering NQ's £48,000. Everyone is telling me that the market is bad and there are no NQ positions out there. What should I do? Should I stay or should I go and take my chances?

By Legal Week

1 minute read