Pui Guan Man

June 27, 2013 | International Edition

White & Case is set to become the latest firm to open in Dubai after obtaining a licence to practise in the emirate. It is understood that the US firm will relocate a team of lawyers to run the new outpost, which will function as an offshoot of its operation in Abu Dhabi. The firm is still determining how the operation will be staffed, with an announcement due after the Eid holidays in early August. According to regulatory requirements, at least five lawyers are required to staff the base.

By Pui-Guan Man

2 minute read

June 27, 2013 | International Edition

Olswang is facing a multimillion-pound claim relating to advice it gave on the £460m acquisition of fitness club chain Esporta from private equity firm Duke Street Capital announced in 2006. The case, which has been assigned to the Queen's Bench Division of the Commercial Court, sees Olswang accused of negligence and breach of its duties of care under its client retainer in relation to advice it gave Esporta's acquirers Ironzar III, a trust owned by property investor Simon Halabi. Ironzar claims Olswang breached its retainer duty by failing to alert the trust of the potential pitfalls created by the format of letters of engagement between the trust and Ernst & Young (E&Y), which was conducting due diligence on the acquisition. It also alleges Olswang failed to provide E&Y with the necessary documents it required as part of its due diligence exercise.

By Pui-Guan Man

2 minute read

June 27, 2013 | International Edition

Simmons & Simmons senior partner Colin Passmore has been re-elected to the leadership role for a second term. Passmore's reappointment will see him take up a new four-year term at the UK top 15 firm from 1 August this year. He will continue to work alongside managing partner Jeremy Hoyland, who started a four-year term in 2011.

By Pui-Guan Man

2 minute read

June 27, 2013 | International Edition

Nabarro and Freeth Cartwright have landed spots on UK construction group Lafarge Tarmac's first-ever legal panel. The UK duo won roles after a competitive pitch process, seeing off around 20 other law firms. The panel is Lafarge Tarmac's first, following its establishment at the start of the year as a joint venture between French construction company Lafarge and mining company Anglo American's UK subsidiary Tarmac.

By Pui-Guan Man

2 minute read

June 26, 2013 | International Edition

Iberian leader Cuatrecasas Goncalves Pereira has appointed a new London managing partner, relocating Madrid-based corporate partner Antonio Baena to fill the role. Cuatrecasas' City office - which is staffed by Baena and an associate who has also relocated - offers international clients advice on entering the Iberian market.

By Pui-Guan Man

2 minute read

June 24, 2013 | International Edition

Offshore firm Conyers Dill & Pearman has closed its Moscow operation after relocating partner Claire McConway to London. McConway has taken up a newly created role as head of the London office's Russia and CIS practice. She has led the Moscow base since early 2012 after relocating from Bermuda.

By Pui-Guan Man

2 minute read

June 24, 2013 | International Edition

Weil Gotshal & Manges is set to cut around 170 jobs in a major round of layoffs affecting both lawyers and support staff. The firm has announced that it is aiming to reduce associate headcount by around 60, with roughly 110 support staff positions also set to go.

By Pui-Guan Man

3 minute read

June 21, 2013 | International Edition

Nabarro has increased pay for associates with more than three years' post-qualification experience (PQE), while freezing salaries for trainees and newly-qualified (NQ) lawyers for the second year in a row. Associates with between four and five years' PQE have seen median earnings rise by 3% to £80,000, up from £77,750, while median pay for those with three to four years' PQE is up from £74,500 to £76,000.

By Pui-Guan Man

2 minute read

June 20, 2013 | International Edition

Allen & Overy (A&O) and Norton Rose Fulbright have won leading roles on a £160m deal that has seen Centrica make its entrance into the closely watched UK shale gas market. Centrica, which owns British Gas, has taken a 25% stake in the Bowland shale gas exploration licence in Lancashire after negotiations with UK shale gas explorer Cuadrilla Resources and Australian engineering group AJ Lucas, which previously held 75% and 25% stakes respectively in the fracking fields. A&O won a first-time mandate for Cuadrilla on the deal following a competitive process. The magic circle firm's London-based team was led by corporate partner John Geraghty, with support from tax partner Lydia Challen.

By Pui-Guan Man

2 minute read

June 20, 2013 | International Edition

Competing against countries from Europe, South America and Asia, Dubai's bid to host the World Expo in 2020 is redolent of the growth in prominence of the Middle East in recent years. With the emirate pitching to bring the exhibition to the Middle East for the first time, delegates at Legal Week's Corporate Counsel Forum Middle East suggested the bid was symbolic of increasing scrutiny on how Gulf Co-operation Council (GCC) countries stack up against markets in Europe and Asia on the wider business stage. Speaking at the recent event, which was held at the Mina A'Salam, Madinat Jumeirah in Dubai, Iain Linney, a global capital markets regulatory specialist and formerly executive director at WestLB and Farouk Soussa, chief economist for the Middle East at Citi, sized up the opportunities for businesses looking to expand or invest in the GCC.

By Pui-Guan Man

6 minute read