Pui Guan Man

March 21, 2013 | International Edition

Bird & Bird has signed an exclusive cooperation agreement with Australian law firm Truman Hoyle as the firm targets growth in the Asia-Pacific region. The Sydney-based firm, which has 30 lawyers specialising in telecoms, technology, media, ecommerce, music, leisure, travel, advertising and biotechnology industries, will now jointly market its services with Bird & Bird.

By Pui-Guan Man

3 minute read

March 20, 2013 | International Edition

Berwin Leighton Paisner (BLP) has appointed David Collins as its new head of corporate, with former Linklaters corporate chief David Barnes succeeding him as head of the firm's corporate finance practice. Collins, who also leads the firm's betting and gaming sector group, has led BLP's corporate finance team since 2001, when he also became a member of the firm's strategy group.

By Pui-Guan Man

2 minute read

March 19, 2013 | International Edition

Stephenson Harwood has landed a role on a deal that has seen Airbus seal a record $24bn (£16bn) order for more than 200 passenger jets from Indonesian low-cost carrier Lion Air. The transaction, which comprises 234 aircraft from the France-based planemaker, was finalised yesterday (18 March) at a ceremony attended by French President Francois Hollande.

By Pui-Guan Man

2 minute read

March 18, 2013 | International Edition

Berwin Leighton Paisner (BLP) head of corporate John Bennett is stepping into the newly created role of international business partner at the firm. Bennett, who has led the global corporate practice since Berwin Leighton merged with Paisner & Co in 2001, will be responsible for growing BLP's international business, with a particular focus on client relationships in Asia and the US.

By Pui-Guan Man

2 minute read

March 18, 2013 | International Edition

Salans saw turnover creep up last year ahead of its combination with SNR Denton and Canada's Fraser Milner Casgrain (FMC). The European law firm - which is set to merge with its transatlantic and Canadian counterparts later this month - saw revenues rise to €209.5m (£179.5m) during the 2012 calendar year, up 1.6% from the 2011 figure of €206.3m (£177.8m).

By Pui-Guan Man

2 minute read

March 18, 2013 | International Edition

Clifford Chance (CC) has scored a trophy role to advise Qatar's 2022 FIFA World Cup organising committee on infrastructure and projects. The magic circle firm has been appointed by the Supreme Committee for Qatar 2022 to advise on its technical programme, which covers the development of the proposed Lusail Iconic Stadium.

By Pui-Guan Man

2 minute read

March 14, 2013 | International Edition

Growing numbers of law firms have been holding back profit distributions in response to the ongoing economic uncertainty, it has emerged, with Field Fisher Waterhouse and SNR Denton joining the ranks of firms to have deferred payments to partners. Field Fisher has opted to delay payment of its March partner distribution ahead of a period of investment after paying the last three 'special drawings' to partners in full and on time. Monthly drawings have been paid as normal. Incoming managing partner Michael Chissick pointed to the firm's change of head office, lateral hiring programme and international expansion as reasons for a "more prudent approach" to distributions.

By Pui-Guan Man

2 minute read

March 14, 2013 | International Edition

Nabarro has raised its default partner retirement age from 60 to 62 and brought in a provision allowing partners to continue working beyond this limit if they desire. The move comes after the firm began a review of its retirement policy in the wake of legislative changes in 2011 to phase out default retirement ages for UK employees. Nabarro partners reaching the new retirement age will be able to continue working at the firm, subject to board approval.

By Pui-Guan Man

2 minute read

March 14, 2013 | International Edition

The majority of partners see moves by firms to hold back profit payouts as sensible financial management, as new Legal Week research highlights the widespread use of such measures across the profession. The latest Big Question survey found that 45% of respondents have seen regular profit distributions delayed or withheld at their firm over the past 12 months, including 10% whose firms have held back 'all or several' payments in that timeframe. The remaining 55% said all distributions at their firms had been paid out in full and on time.

By Pui-Guan Man

5 minute read

March 14, 2013 | International Edition

Allen & Overy (A&O) and Slaughter and May have led on a deal that has seen the Royal Bank of Scotland (RBS) give up control of UK insurer Direct Line with a £507m share sale. RBS, which sold a 34.72% share in Direct Line when it listed on the London Stock Exchange last year, has now sold a further 15.3%, reducing its stake in the insurer to just below 50%.

By Pui-Guan Man

2 minute read