Sofia Lind

February 01, 2011 | International Edition

Linklaters has topped Dealogic's 2010 global project finance rankings by value, working on 37 mandates worth an aggregated $23.1bn (£14.6bn). The score sees Linklaters head the table above India's Luthra & Luthra, which worked on 25 deals worth $22.5bn (£14.2bn), and Allen & Overy (A&O), which came third by value but topped the rankings by volume with roles on 59 global deals worth $20.1bn (£12.7bn). The leader of the 2009 rankings by value, Latham & Watkins, fell to ninth place.

By Sofia Lind

3 minute read

January 28, 2011 | International Edition

Taylor Wessing cut staff costs by 17% during the last financial year after reducing staff headcount at the firm. The Anglo-German firm's UK limited liability partnership (LLP) accounts for 2009-10 show a drop in total staff costs from £37.4m to £31m. This comes against a 12% reduction in headcount, with total staff numbers dropping from 541 to 476. Support staff numbers fell from 262 to 227 - a drop of 13%. Meanwhile, fee earner numbers dipped by 9% from 258 to 235.

By Sofia Lind

2 minute read

January 28, 2011 | International Edition

Clifford Chance (CC) and Allen & Overy (A&O) have taken lead roles on a €5bn (£4bn) debt capital markets (DCM) transaction by the European Financial Stability Facility (EFSF). The bond issuance, one of the latest transactions relating to the eurozone sovereign debt crisis, aims to tap capital markets to raise funds to make loan disbursements to Ireland under its loan facility agreement with the EFSF.

By Sofia Lind

2 minute read

January 26, 2011 | International Edition

Sixteen Government departments racked up legal fees of more than £1m each over the last three years through the panel designed to centralise Whitehall legal spend, with JobCentre Plus emerging as the biggest spender. The data, obtained by Legal Week through a Freedom of Information Act request, shows JobCentre Plus spent just under £11m in legal fees through the Government's legal services framework panel.

By Sofia Lind

3 minute read

January 26, 2011 | International Edition

Linklaters and Allen & Overy (A&O) have topped Thomson Reuters' EMEA equity and debt capital markets rankings for the full 2010 calendar year. Linklaters has held its spot at the top of the equity capital markets (ECM) rankings by manager, advising underwriters on 57 deals worth a total of $39.2bn (£24.8bn). The tally equates to four more deals than in 2009 – although the value is down from last year's figure of $53.3bn (£33.7bn) – putting it significantly ahead of its nearest rival by volume, Davis Polk & Wardwell, which advised on just 14 deals.

By Sofia Lind

2 minute read

January 26, 2011 | International Edition

Berwin Leighton Paisner (BLP) is launching a key client programme as part of a drive to boost revenues from major client relationships. The UK top 20 law firm intends to focus on around 30 relationships across all practice groups, with names expected to be finalised by the spring.

By Sofia Lind

2 minute read

January 26, 2011 | International Edition

CMS Cameron McKenna's ambitious bid to outsource virtually its entire back office function to Integreon could result in more than half of the firm's London support staff either relocating or being made redundant. Details of the move, announced earlier this week (24 January), when the City law firm formally launched a consultation on the plans, revealed that 9% of 363 global business services staff will face redundancy, with a further 21% asked to relocate to either Bristol or India.

By Sofia Lind

3 minute read

January 26, 2011 | International Edition

A Parliamentary watchdog has called on the Ministry of Justice (MoJ) to improve its financial management following a critical report. The Public Accounts Committee (PAC) published a report on the MoJ this week (25 January), criticising the ministry for not placing a strong enough focus on financial management as it embarks on spending cuts set to trim 23% from its £9bn budget.

By Sofia Lind

3 minute read

January 25, 2011 | International Edition

A trio of City firms have won roles advising on the £208m management buyout of gambling technology provider OpenBet backed by London private equity house Vitruvian partners. The deal saw OpenBet, which is one of the leading software providers in the e-gaming and online betting arena, sold by digital pay TV provider NDS.

By Sofia Lind

2 minute read

January 25, 2011 | International Edition

CMS Cameron McKenna is to either lay off or relocate almost one third of its support staff as a result of its outsourcing agreement with Integreon. The firm began informing staff internally about the final details of the agreement yesterday (24 January), with 9% of its current back office staff set to be made redundant as a result of the deal.

By Sofia Lind

4 minute read