Legal Week

June 18, 2009 | International Edition

DLA Piper has launched a second round of job cuts in the Middle East, with the firm cutting 9% of staff in the region, including one partner. In total, 22 staff will lose their jobs in the region, including nine fee earners. Staff were informed last week, with the cuts taking effect immediately.

By Legal Week

2 minute read

June 18, 2009 | International Edition

Field Fisher Waterhouse has become the latest firm to announce its financial results, with turnover growing by 8% but the firm predicting a slump in profits per equity partner (PEP). The UK top 40 firm saw revenues rise to £95m during the 2008-09 financial year, up from £88m the previous year. The firm has yet to finalise its PEP figure, but confirmed that it does not expect profits to reach last year's high of £750,000.

By Legal Week

2 minute read

June 18, 2009 | International Edition

A £275m (£169m) dispute involving UBS and HSH Nordbank - cited as the first true bank-on-bank dispute to hit the UK as a result of the credit crunch - has been refused jurisdiction in the English courts following a Court of Appeal ruling today (18 July). The judgment, handed down by Lord Justice Ward, Lord Collins of Mapesbury and Lord Justice Toulson, will be seen as a blow for UBS after the bank appealed a ruling handed down by Mr Justice Walker last July.

By Legal Week

2 minute read

June 18, 2009 | International Edition

Recent figures from legal recruitment firm GRS Legal revealed that in the first quarter of 2009 opportunities in pensions-based legal recruitment rose 19% compared with thesame period the year before.

By Legal Week

11 minute read

June 18, 2009 | International Edition

Family and private client law are usually treated as separate disciplines. At a recent Legal Week panel debate, however, a strong case was made for bringing family and private client teams together when it comes to advising wealthy clients.

By Legal Week

3 minute read

June 18, 2009 | International Edition

When Paul Beveridge, a partner at Heller Ehrman, took a buyout from the firm in autumn 2007, there was no doubt where he would invest the proceeds. Beveridge is a Washington State winemaker who, until that time, bought fruit from vineyards across the state. The buyout helped him fulfil the dream of owning a place to grow his own grapes.

By Legal Week

3 minute read

June 18, 2009 | International Edition

Despite much industry support for the current voluntary regime of regulation of retail banking business, the days of self-regulation under the Banking Codes are numbered. On 1 November, 2009, the Financial Services Authority (FSA) will implement the new Banking and Payment Services Conduct Regime including a new Banking Conduct of Business Sourcebook (BCOBS). So what, in practise, does BCOBS mean for the future of UK retail banking?

By Legal Week

5 minute read

June 18, 2009 | International Edition

Denton Wilde Sapte, Fulbright & Jaworski and Ashurst have played key roles in the E647m (£556m) consortium acquisition of the oil and gas division of Oranje-Nassau Groep.

By Legal Week

2 minute read

June 18, 2009 | International Edition

The London offices of White & Case and Latham & Watkins have advised on two high-yield deals worth nearly £400m for European video, voice and broadband internet services provider UPC.

By Legal Week

2 minute read

June 18, 2009 | International Edition

Standard Chartered head of legal for Europe, the Middle East, Africa and Pakistan David Brimacombe has left the bank after a restructuring of the legal and compliance teams. Brimacombe, who was based in Dubai, is planning to set up a consultancy in the UK focusing on the legal and regulatory aspects of corporate governance. He will not be replaced at Standard Chartered.

By Legal Week

2 minute read