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International Edition

Criminal chambers launches first UK 'procureco' business unit

Criminal set Argent Chambers is to become the first UK set to launch a separate business unit intended to compete with solicitors firms to win work direct from clients. Argent Law - due to launch in April - looks likely to be the first UK 'procureco', a groundbreaking initiative encouraged by Bar Council chairman Nicholas Green QC that will see chambers forming separate businesses as a means of winning work directly from companies and public bodies - cutting out solicitors.
2 minute read

International Edition

Kelly hire settles dispute over Cleary's City litigation plans

With even the notoriously conservative Cleary Gottlieb Steen & Hamilton making a senior disputes appointment in the Square Mile, it appears that the much-touted banking litigation market really does have legs. The US firm made a big splash last week with the news that it was making a rare lateral hire in the shape of Jonathan Kelly from Simmons & Simmons, one of the best-known banking litigators in the City.
4 minute read

International Edition

CC transfers UK litigation chief to Moscow in Russia disputes drive

Clifford Chance's (CC's) UK litigation head Nicholas Munday has been seconded to the firm's Moscow office in a bid to strengthen and expand the disputes team in the region. Munday, who is responsible for overseeing the firm's Moscow and UK litigation practice, has been charged with expanding the two-partner, eight associate team in the country through a mixture of lateral hiring and organic growth.
2 minute read

International Edition

Will the FSA step up regulation as Sants steps down?

On 9 February 2010, the Financial Services Authority (FSA) announced that Hector Sants, the FSA's CEO, will stand down in the summer. He will have held the role for three years in July, leading the FSA through a time of extraordinary challenges for financial institutions and their regulators alike. As yet, Sants' successor has not been selected, but financial institutions, their advisers and commentators are wondering what impact a change of leader might have on the FSA's policies and approach to regulation.
4 minute read

International Edition

A suitable venue

Rivers of ink have been spilled on designing a regulatory response to the global financial crisis. On global financial dispute resolution, not so much. "The newspapers are full of stuff about regulation," complains derivatives guru Jeffrey Golden of Allen & Overy (A&O). "But there's not a word about judges and courts. The whole focus is on preventive medicine, and nobody's paying attention to the hospitals full of sick patients." By sick patients, Golden means banks caught in litigation over structured finance.
13 minute read

International Edition

Linklaters partner joins Darrois Villey in trio of hires for French leader

Leading French law firm Darrois Villey Maillot Brochier has bolstered its practice with the hire of three new partners, including one from Linklaters. Corporate partner Bertrand Cardi joins Darrois, having been a partner at Linklaters in Paris since 2004. He joined the magic circle firm as an associate in 2000, having previously worked with Gide Loyrette Nouel.
2 minute read

International Edition

Stephenson Harwood acts on $12bn Hong Kong property empire dispute

Stephenson Harwood has won a role advising on a multibillion-dollar dispute over the estate of one of Asia's richest women. Nina Wang, who died in April 2007, made out a will stating that the estate of her property empire, Chinachem Group, worth an estimated $12bn (£8bn), should go to the Wang family-run charity, the Chinachem Foundation.
2 minute read

International Edition

Cleary makes rare City lateral with hire of high-profile Simmons litigator

Cleary Gottlieb Steen & Hamilton has made a rare lateral hire in the City, picking up high-profile finance litigator Jonathan Kelly from Simmons & Simmons. Kelly, one of the City's best-known banking litigators, will launch a dedicated UK litigation practice for Cleary on his arrival at the US firm in April.
3 minute read

International Edition

Linklaters and A&O take headline roles as BAE settles bribery case

Linklaters and Allen & Overy (A&O) have taken key roles steering BAE Systems through the high-profile corruption case that saw the defence group on Friday (5 February) agree to pay fines totalling more than $400m (£250m). BAE's agreement with the US Department of Justice (DoJ) and the UK Serious Fraud Office (SFO) settles a six-year investigation into the company's alleged corruption in arms deals.
2 minute read

International Edition

Fried Frank hits back at allegations in discrimination lawsuits

Fried Frank Harris Shriver & Jacobson has responded forcefully to a former associate's $50m (£32m) lawsuit against the firm, reports The Am Law Daily. The suit was filed in December by Julie Kamps, a Harvard Law School graduate who worked at Fried Frank for a decade before the firm allegedly fired her during the middle of an arbitration in January 2009.
2 minute read

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