Sofia Lind

May 28, 2010 | International Edition

CMS Cameron McKenna has posted a double-digit drop in both profits and revenues for the 2009-10 financial year. The UK top 15 firm has informed its partners that total turnover for the last financial year was £214m, down by 11% from the 2008-09 figure of £240m.

By Sofia Lind

2 minute read

May 28, 2010 | International Edition

Clarke Willmott has announced a change in leadership with chairman Stephen Rosser to succeed long-time leader David Sedgwick in the role of chief executive. It is the first transition in leadership for over a decade at Clarke Willmott as Sedgwick has managed the national law firm for 11 years, having first been elected in 1999. Rosser was named chairman of the firm in December last year and will now assume both roles, which include advising the firm on its operational management and strategy.

By Sofia Lind

2 minute read

May 26, 2010 | International Edition

Norton Rose has decided against unfreezing pay for its newly-qualified (NQ) lawyers, while carrying out discretionary pay reviews for the firm's more experienced associates. Pay for first-year associates will remain at £59,000, while trainee rates have been increased from £35,700 to £37,000.

By Sofia Lind

2 minute read

May 26, 2010 | International Edition

Allen & Overy (A&O) is advising Rwanda as the once war-torn nation changes from civil to common law to boost foreign direct investment. A&O currently has a 12-lawyer team on the ground in the country, training its legal community on the common law system and general commercial law as part of the changeover process.

By Sofia Lind

2 minute read

May 26, 2010 | International Edition

Bird & Bird is set to launch its first Middle East office after partners approved plans for a base in Abu Dhabi last week. The expansive City firm filed an application to practise in Abu Dhabi earlier this week following a firmwide vote, which closed last Friday (21 May) with a vast majority of partners backing the plans.

By Sofia Lind

2 minute read

May 26, 2010 | International Edition

Simmons & Simmons and Allen & Overy (A&O) have taken key roles on Thomas Cook's refinancing, as the travel company attempts to bolster its balance sheet. The process, which has taken almost six months to complete, has seen the company secure financing worth almost £2bn in total.

By Sofia Lind

2 minute read

May 26, 2010 | International Edition

Sweeping curbs on public spending are set to have an early impact on the legal sector, with the Government this week announcing deep cuts in regional development agencies (RDAs) as part of an initial £6.2bn round of cuts. England's nine RDAs will lose £270m this year - roughly 20% of their budget.

By Sofia Lind

4 minute read

May 26, 2010 | International Edition

Tube Lines is pressing ahead with a panel review despite Transport for London's (TfL) plan to take over the running of the privately-owned consortium. Tube Lines kicked off a tender process last month in a bid to trim down legal spend and is expected to finalise the review in July.

By Sofia Lind

2 minute read

May 21, 2010 | International Edition

Freshfields Bruckhaus Deringer has taken the lead role on a $1.4bn (£971m) private equity deal for aircraft leasing startup Avolon. The deal saw a consortium comprising Cinven, CVC Capital Partners and Oak Hill Capital Partners commit $750m (£521m) alongside a $615m debt package.

By Sofia Lind

2 minute read

May 19, 2010 | International Edition

Citigroup has overhauled its external legal arrangements, creating two new panels of preferred law firms. The banking giant has unveiled new panels of advisers in the Europe, Middle East and Asia (EMEA) region and the US, formalising its previous roster of law firms.

By Sofia Lind

3 minute read