Sofia Lind

March 23, 2011 | International Edition

City lawyers have given the 2011 budget a "guarded welcome" with small tax relief measures included in Chancellor George Osborne's speech today aimed at encouraging businesses to operate in the UK.

By Sofia Lind

8 minute read

March 22, 2011 | International Edition

Mayer Brown has strengthened its City banking practice with the hire of Orrick Herrington & Sutcliffe's former European managing partner Stuart McAlpine. McAlpine, whose practice focuses on cross-border asset and project finance deals, in particular the shipping, offshore and energy industries, will join Mayer Brown's London banking and finance practice next week (28 March).

By Sofia Lind

2 minute read

March 22, 2011 | International Edition

CMS Cameron McKenna has begun the second round of voting to elect the firm's next senior partner, with three candidates remaining after Robert Lane was eliminated during the first round. Energy partner Lane stood against three other City candidates who remain in the running - former managing partner Dick Tyler, banking and project finance partner Andrew Ivison and consumer products head Louise Wallace.

By Sofia Lind

2 minute read

March 17, 2011 | International Edition

SNR Denton has voted in new management for its UK LLP, with City energy head Matthew Jones to take on the new UK chief executive officer role. The changes will also see legacy Denton Wilde Sapte chairman Martin Kitchen assume a new role as senior partner for the UK LLP, for which Brandon Ransley was recently named managing partner.

By Sofia Lind

3 minute read

March 17, 2011 | International Edition

White & Case and Clifford Chance (CC) have taken lead roles on a €2.5bn (£2.2bn) debt transaction that has completed the financing of the Nord Stream pipeline project. The loans pave the way for the second phase of construction of the natural gas pipeline which will run from Russia to Germany, with the total cost of the project estimated at around €7.5bn (£6.5bn).

By Sofia Lind

2 minute read

March 16, 2011 | International Edition

The Solicitors Regulation Authority (SRA) is investing £20m in IT systems as it prepares for the introduction of outcomes-focused regulation (OFR) later this year. The £20m figure includes the cost of upgrading the SRA's existing IT platform as well as the launch of a new project - dubbed Smartview - which allows the regulator to monitor law firms, alternative business structures (ABSs) and individuals on a case-by-case basis and track all regulatory breaches as part of the move to OFR.

By Sofia Lind

3 minute read

March 16, 2011 | International Edition

Norton Rose has won a coveted client mandate in Australia, with the firm appointed as a legal adviser to a local sovereign wealth fund with assets worth A$70bn (£45bn). The firm won the appointment in January this year after the Future Fund conducted the first review of its local law firm arrangements since it was formed in 2006. The review launched in October last year, with Norton Rose securing an initial three-year appointment, with the possibility of a one or two-year extension to its term.

By Sofia Lind

2 minute read

March 15, 2011 | International Edition

Allen & Overy (A&O) has reviewed its lateral partner hiring programme over the last seven years, with the firm retaining more than 90% of the partners it brought in over the period. The magic circle firm's research, which comes against a backdrop of increasing numbers of UK and US firms taking a detailed look at their lateral hiring record, found A&O has brought in 95 partners over the last seven years, 19 of whom were hired for the firm's Australia launch last year. Of the total, only nine have departed.

By Sofia Lind

2 minute read

March 15, 2011 | International Edition

The Solicitors Regulation Authority (SRA) board has approved the watchdog's application to become a licensing authority for alternative business structures (ABSs) today (15 March). The board has also approved the final draft of the handbook on the new Solicitors Code of Conduct, which is due to be published next month (6 April) following consultation.

By Sofia Lind

3 minute read

March 14, 2011 | International Edition

A group of nine partners are set to leave DLA Phillips Fox ahead of the Australian firm's full merger with 'best friend' firm DLA Piper. DLA Piper has confirmed that nine Brisbane partners are leaving the Australian alliance firm, with the group understood to be joining domestic firm Thomsons Lawyers.

By Sofia Lind

2 minute read