Simon Petersen

November 30, 2011 | International Edition

Cleary Gottlieb Steen & Hamilton and Paul Hastings look set to be among the first law firms to launch in South Korea, with both firms confirming plans to open in Asia's fourth-largest economy. The news comes after a free trade agreement (FTA) between South Korea and the US was ratified by both governments late last month, paving the way for the country's legal market to open up to US law firms for the first time.

By Simon Petersen

4 minute read

November 29, 2011 | International Edition

DLA Piper has bulked up its Beijing corporate and M&A practice with a double partner hire from Mallesons Stephen Jacques. Mallesons Beijing corporate partner and office head John Shi is set to join DLA in the near future along with local M&A partner Nicolas Groffman, taking the total number of partners in the office to seven.

By Simon Petersen

2 minute read

November 29, 2011 | International Edition

Eversheds has turned to Norton Rose for the new head of its Paris-based China practice. Norton Rose Beijing corporate partner Virginie Deslandres joined Eversheds' Paris office this month, and will act as the cross-border coordinator of the firm's China practice in Europe, working across a number of the firm's Asian and European offices.

By Simon Petersen

2 minute read

November 29, 2011 | International Edition

Eversheds has turned to Norton Rose for the new head of its Paris-based China practice. Norton Rose Beijing corporate partner Virginie Deslandres joined Eversheds' Paris office this month, and will act as the cross-border coordinator of the firm's China practice in Europe, working across a number of the firm's Asian and European offices.

By Simon Petersen

2 minute read

November 28, 2011 | International Edition

Stephenson Harwood is entering the Indonesian market with the launch of a formal association with local firm Christian Teo Purwono & Partners (CTPP). The agreement, which was signed last Thursday (24 November), gives the UK top 30 firm an associated office in Jakarta, adding to its existing offices in Hong Kong, Guangzhou, Shanghai and Singapore.

By Simon Petersen

2 minute read

November 25, 2011 | International Edition

Expansive northwest firm DWF has sealed a deal to acquire Newcastle stalwart Crutes in the New Year. DWF will merge with Crutes, an insurance specialist with annual revenues of more than £5m, on 1 January 2012. The law firm employs 95 people, including 16 partners and has offices in Newcastle, Carlisle and Stockton on Tees.

By Simon Petersen

2 minute read

November 23, 2011 | International Edition

Nigel Knowles looks set to secure another term at the helm of DLA Piper, with no-one putting themselves forward to replace him as joint chief executive as Legal Week went to press. The formal nomination period for candidates to put themselves forward to stand against Knowles is due to end later this month, with Knowles currently running uncontested.

By Simon Petersen

2 minute read

November 23, 2011 | International Edition

The Italian legal market is bracing itself for the full impact of the country's debt crisis, as new Prime Minister Mario Monti comes under pressure to bring Italy's finances under control. Italy's borrowing costs for 10-year bonds this month hit 7%, a major problem given that the country needs to refinance around €200bn (£170bn) in maturing debt by next April.

By Simon Petersen

3 minute read

November 23, 2011 | International Edition

Charge-out rates at the City's top firms have remained broadly static throughout 2011, with leading firms coming under pressure to reduce rates. New research carried out by costs lawyer Jim Diamond shows magic circle firms have reduced partner charge-out rates marginally, with average rates falling by 8% at the lower end of the range and 3% at the top in 2011. The reductions equate to an average partner hourly rate in the magic circle of between £600 and £700, down from a range of £650 to £725 in 2010.

By Simon Petersen

5 minute read

November 22, 2011 | International Edition

Eversheds, Pinsent Masons and DAC Beachcroft have won roles on healthcare company United Drug's inaugural legal panel. The trio was appointed to the company's UK panel following a formal tender process over the summer and are expected to advise on a broad range of areas including M&A, commercial, competition and regulatory, dispute resolution and litigation, employment and tax.

By Simon Petersen

2 minute read