Suzi Ring

January 25, 2012 | International Edition

Morrison & Foerster (MoFo) has signed off three multimillion-dollar listings on the Hong Kong Stock Exchange in recent weeks, as Asian capital markets work continues to grow in importance for international law firms. The US law firm advised the underwriters – China International Capital Corporation, UBS and Royal Bank of Scotland – on the $300m (£194m) initial public offering (IPO) of Chinese power company Guodian Technology and Environment Group, which listed on 30 December.

By Suzi Ring

2 minute read

January 25, 2012 | International Edition

Herbert Smith took out a £6.7m loan in 2010-11, according to recently filed limited liability partnership (LLP) accounts, with part of the loan going towards fitting out the firm's new Belfast office. Details of the loan are contained within accounts, filed earlier this month with Companies House, which also show that at the close of the financial year the firm's overdraft stood at £18.7m compared with £7.6m the previous year, taking total bank borrowings to £70.9m. Despite the increase, the firm's total overdraft facility remained unchanged.

By Suzi Ring

2 minute read

January 24, 2012 | International Edition

Freshfields Bruckhaus Deringer and Allen & Overy (A&O) have announced trainee retention rates for their first intake of 2012, with both firms set to see 89% of their newly-qualified lawyers (NQs) staying on. Freshfields has offered 42 of its 46 February NQs a place at the firm, with 41 accepting. The magic circle firm also posted a retention rate of 89% for its spring intake last year.

By Suzi Ring

2 minute read

January 24, 2012 | International Edition

Linklaters has taken the lead role for China Investment Corporation (CIC) on its acquisition of a 9% stake in Thames Water. The high-profile deal - which marks the Chinese sovereign wealth fund's first major UK share purchase - saw the magic circle firm field a team led by London corporate partner William Buckley and Hong Kong corporate partner Matthew Middleditch.

By Suzi Ring

2 minute read

January 23, 2012 | International Edition

Herbert Smith and Irwin Mitchell are among a growing list of firms picking up advisory roles stemming from the Costa Concordia cruise ship disaster earlier this month (13 January) which has left 13 dead and around 20 more missing. Herbert Smith is advising Costa Cruises' parent company Carnival Corporation on matters concerning future bookings, with instructions being handled by the firm's insurance team in Hong Kong.

By Suzi Ring

3 minute read

January 23, 2012 | International Edition

Freshfields Bruckhaus Deringer has appointed its first-ever chief operating officer for its US arm, with the hire of Sullivan & Cromwell's former chief legal personnel and development officer. Andrea Locklear started at the magic circle firm this month. She was most recently managing director of New York corporate recruitment firm FPC, prior to which she was at Sullivan for 10 years.

By Suzi Ring

2 minute read

January 20, 2012 | International Edition

Former Macfarlanes banking partner Francis Bridgeman has been sentenced to 12 months in prison after claiming he had been kidnapped in order to avoid being arrested for drink-driving.

By Suzi Ring

2 minute read

January 19, 2012 | International Edition

Freshfields Bruckhaus Deringer and Linklaters have taken lead roles on the first private finance initiative (PFI) monoline insurance company replacement since the start of the global financial crisis. The deal has seen Ambac Assurance UK – the guarantor of £97m of senior bonds raised to construct Worcestershire Hospital – replaced after the value of the credit enhancement it provided fell. Assured Guaranty (Europe) and Assured Guaranty Municipal Corporation have replaced Ambac.

By Suzi Ring

2 minute read

January 19, 2012 | International Edition

Olswang is set to appoint a panel of legal process outsourcers (LPOs) to carry out low-value document review work for the firm. The firm has identified a shortlist of seven LPOs with a view to selecting three to act as its preferred providers 
when required.

By Suzi Ring

2 minute read

January 19, 2012 | International Edition

Finance partners have welcomed plans by the UK Government to help strengthen London's position as a leading financial centre by turning it into an offshore trading hub for China's renminbi (RMB) currency. Chancellor of the Exchequer George Osborne signed a deal on Monday (16 January) in Hong Kong setting out plans to make London a trading centre for the currency, which is becoming increasingly important as China's economic power continues to grow.

By Suzi Ring

5 minute read