Sofia Lind

February 09, 2012 | International Edition

"Parabis is already a very successful company and all of the stakeholders have done well out of it. The primary motivation was not cash out but to grow the business. The only change will be that it has now got access to deep-pocket capital for investment..."

By Sofia Lind

6 minute read

February 09, 2012 | International Edition

Hogan Lovells and Allen & Overy (A&O) have emerged as two of the biggest beneficiaries of legal spend by Ireland's National Asset Management Agency (NAMA) since it was set up to address the crisis in the country's banking system in December 2009. The two firms have collected more than €5m in fees between them since the start of 2010 - with Hogan Lovells earning €2.9m (£2.5m) and A&O €2.5m (£2.1m) - around a fifth of the body's €27.6m (£23.1m) total legal spend over the period.

By Sofia Lind

2 minute read

February 08, 2012 | International Edition

Hogan Lovells has confirmed the appointment of London real estate litigator Nicholas Cheffings as the first sole chairman of the transatlantic law firm. Cheffings will take up the post on 1 May for a three-year term, replacing current co-chairs Claudette Christian and John Young. Young is set to retire when his term ends on 30 April, while Christian will continue to practice at the firm.

By Sofia Lind

2 minute read

February 08, 2012 | International Edition

US firm Katten Muchin Rosenman has hired Mayer Brown City real estate head Peter Sugden as its new London managing partner. The firm said the appointment had come as part of its expansion plans in its core areas of real estate and financial services. Sugden is taking on the role one year after Katten saw its former London head, funds partner Martin Cornish, depart for K&L Gates in early 2011. Finance partner Edward Black has headed up the office in the interim period.

By Sofia Lind

3 minute read

February 07, 2012 | International Edition

SNR Denton saw profit before tax shrink by around 40% last year across its operations outside the US, with the firm's latest limited liability partnership (LLP) accounts showing a fall in profit from £37.9m to £22.5m. The transatlantic firm's UK LLP accounts, which cover operations across the UK, Europe, the Middle East and Asia, show profit available for discretionary division fell from £6.2m to £615,000, against a slump in audited turnover from £166m to £152.5m.

By Sofia Lind

3 minute read

February 07, 2012 | International Edition

Allen & Overy (A&O) has strengthened its US intellectual property (IP) litigation practice with the hire of Steven Adkins from Orrick Herrington & Sutcliffe. Adkins has joined the firm's Washington DC office as a partner in the US litigation and global IP practice. He specialises in Section 337 investigations and trials before the International Trade Commission (ITC) involving patent infringement and other unfair trade issues.

By Sofia Lind

2 minute read

February 06, 2012 | International Edition

Private equity house Duke Street has acquired a majority stake in the Parabis Group, the parent company of insurance litigation law firms Plexus Law and Cogent Law. The deal, which values Parabis between £150m and £200m, is subject to approval from the Solicitors Regulation Authority (SRA), but is expected to be completed in the first quarter of 2012.

By Sofia Lind

4 minute read

February 03, 2012 | International Edition

SJ Berwin senior partner Jonathan Blake will not stand for a third term at the firm's helm, he confirmed earlier today (3 February). Blake told partners today that he will step down from the role when his term closes on 30 April this year, ending months of speculation about whether not he would be seeking re-appointment.

By Sofia Lind

2 minute read

February 03, 2012 | International Edition

Taylor Wessing is set to offer legal process outsourcing (LPO) services to other law firms with plans to spin off its document review business now underway. The firm is currently appointing an adviser to look at a demerger of its New Street Solutions document review business to become an entirely separate entity.

By Sofia Lind

2 minute read

February 02, 2012 | International Edition

Norton Rose saw staff costs increase by £12.3m during 2010-11 in the wake of significant international expansion, the firm's limited liability partnership (LLP) filings have revealed. The LLP accounts, which cover all of the firm's operations with the exception of its Australia, Canada and South Africa arms, show staff costs rising over the year from £138.9m to £151.2m.

By Sofia Lind

2 minute read