Sofia Lind

April 05, 2011 | International Edition

A group of activists is targeting Allen & Overy (A&O) as part of a protest march this afternoon (5 April) after accusing the magic circle firm of "representing vulture funds". The march will target the firm's Canary Wharf office, which formerly housed a 200-strong banking team but which was vacated last year when A&O reunited the team with the rest of the firm in its Spitalfields HQ.

By Sofia Lind

3 minute read

April 05, 2011 | International Edition

Allen & Overy (A&O) has become the first law firm to sign up to the Government's new 'business compact' which will see companies agree to offer internships to young people from deprived backgrounds. The compact is part of the Government's wider social mobility strategy unveiled today (5 April) by Deputy Prime Minister Nick Clegg.

By Sofia Lind

2 minute read

April 05, 2011 | International Edition

Berwin Leighton Paisner (BLP) has made up 13 new partners, marking the firm's largest partnership round since 2006. The majority of the new partners, who will be made up as of 1 May, are based in the firm's City headquarters, which receives nine promotions, while three are based in Moscow and one in Singapore. The firm's corporate department sees the largest number of new partners with five, followed by three each in finance and litigation. Tax and real estate receive one new partner apiece.

By Sofia Lind

3 minute read

April 05, 2011 | International Edition

Fears of an oversupply of aspiring lawyers have been reinforced by new research showing a 16% fall in the number of available training contracts last year, despite the profession as a whole continuing to expand. The latest annual statistical report from the Law Society shows that the number of registered training contracts offered in the 12-month period ending 31 July 2010 was 4,874, a decrease of 16.1% on the previous year's figure of 5,809. The level of training contracts has now fallen 23% from a 2007-08 peak of 6,303.

By Sofia Lind

4 minute read

April 05, 2011 | International Edition

Clifford Chance (CC) is set to open its first office in Africa, with the magic circle firm in the early stages of planning a launch on the ground in Morocco. The office, for which the firm has yet to seek regulatory approval, is expected to focus on infrastructure and the energy and mining sector, as well as targeting other major international corporates doing business in the region. It is understood the firm plans to relocate at least one Paris partner to the new office

By Sofia Lind

2 minute read

April 04, 2011 | International Edition

A quartet of UK law firms have taken roles on the buyout of high street food chain EAT by private equity group Lyceum Capital. Travers Smith advised Lyceum on the deal, while CMS Cameron McKenna acted for EAT and its management. Dickson Minto took the key role for private equity sellers Penta Capital, while DLA Piper advised HSBC on the financing.

By Sofia Lind

2 minute read

April 04, 2011 | International Edition

Allen & Overy (A&O) has made up 21 new partners, including six in the firm's City office. The London haul is up on last year, when A&O made up two new partners in the City in a global promotion round of 18. Seventy-one percent of this year's promotions come in the magic circle firm's international offices, compared with 89% last year.

By Sofia Lind

3 minute read

March 31, 2011 | International Edition

Clifford Chance (CC) and DLA Piper have advised on a £300m renewable energy project that will see around 30,000 properties across the UK gaining free solar power. Newcastle-based clean-tech company Eaga is to use £300m of funding to add solar panels to the social housing properties, with the funding including £75m of equity from Eaga, HSBC Environmental Infrastructure Fund and Barclays European Infrastructure Fund II and £225m of debt from a syndicate of banks.

By Sofia Lind

2 minute read

March 31, 2011 | International Edition

Nearly half of City partners do not understand the move towards principles-based regulation by the Solicitors Regulation Authority (SRA), with a similar number believing the body has not been effective in its efforts to build links with commercial law firms. The results come as part of a Legal Week Big Question survey focusing on the SRA's move away from prescriptive rules-based regulation to a more risk-driven approach known as outcomes-focused regulation (OFR), which will come into effect on 6 October.

By Sofia Lind

4 minute read

March 30, 2011 | International Edition

City law firms may have to renegotiate their outsourcing arrangements as the Solicitors Regulation Authority (SRA) moves to regulate outsourcing for the first time. The new Code of Conduct to be published next week (6 April) sees the SRA assert that it should be given access to law firms' outsourcing contracts and files, as well as potentially to outsourcers' premises for regulatory checks. This would affect all legal and business process outsourcing arrangements the SRA deems critical to the firms' activities.

By Sofia Lind

3 minute read