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International Edition

Fired Bank of America GC tells his side of the story

When former Bank of America general counsel Tim Mayopoulos learned on 9 December last year that losses at Merrill Lynch were almost twice what he was originally told, he asked to speak with the bank's chief financial officer (CFO) about it immediately. Instead, he was told to wait until the next day. "We never met," Mayopoulos says, in remarks prepared for delivery to Congress today (17 November). That's because a little before noon the next day, Mayopoulos was pulled from a legal department meeting and told that he was fired on the spot, without notice and without reason.
5 minute read

International Edition

DLA appoints new head of Dubai office

DLA Piper has appointed its Middle East litigation chief to head up the Dubai office in the wake of the departure of the firm's current managing partner earlier this month. Jim Delkousis will take on the role from 1 January 2010, while remaining head of the Middle East litigation and regulatory practice group.
2 minute read

International Edition

CC asked to provide billing info as India tax dispute reaches Supreme Court

Clifford Chance's (CC's) India tax dispute has reached the country's Supreme Court, with the firm asked to provide details of fees it received for advising on projects during the late 1990s. The long-running dispute has been closely watched by lawyers hoping for greater clarity on how legal fees for India-related work are taxed.
2 minute read

International Edition

Bear Stearns hedge fund managers found not guilty of fraud

A federal jury in New York has found two former Bear Stearns hedge fund managers not guilty of fraud charges, reports The Am Law Daily. The jury found that Matthew Tannin and Ralph Cioffi did not lie to investors in painting a rosy picture of the health of two funds backed by subprime mortgages which later collapsed and cost investors $1.6bn (£960m).
3 minute read

International Edition

Duo charged with insider trading set for April trial date

The two lawyers charged with insider trading by the Financial Services Authority will go to trial in April next year. Details of the trial have been set, with the court hearing kicking off on 19 April at Southwark Crown Court under Judge Peter Testar.
2 minute read

International Edition

Plan to charge £350 for Supreme Court documents met with criticism

Litigators have reacted with disappointment to news that the new Supreme Court will charge a minimum fee of £350 to access court documents. Critics have lashed out after news emerged that members of the public wishing to see court records will now face an application fee of £350, with many claiming that the payment requirement will be detrimental to the court's stated aim of greater transparency.
2 minute read

International Edition

A&O targets white collar crime with hire of Hong Kong litigation partner

Allen & Overy (A&O) has added to its Hong Kong offering with the hire of a litigation partner from Mallesons Stephen Jaques. Hong Kong-based white collar crime specialist Simon Clarke is currently in discussions with Mallesons about the terms and timing of his intended departure from the firm.
2 minute read

International Edition

Career Clinic: What's more important – getting on with your colleagues or enjoying your work?

"I am currently nearing the end of my TC at a mid-sized City law firm and am considering my options on qualification. I have narrowed down my choices to two departments, but I'm torn between a team I got on really well with and an area of work I found much more interesting. I liked asset finance because I got on well with a young and dynamic team who were happy to take the time out to train me up and help me along, but the hours are long and the work is repetitive. On the other hand, litigation offers a good work/life balance and the work is intellectually stimulating, but the department is top-heavy, there's a lack of structured training and I didn't get on at all well with the team. Which should I choose? Any advice would be appreciated..."
1 minute read

International Edition

Ropes & Gray lawyer arrested in insider trading probe

Federal prosecutors have filed criminal charges against 20 hedge fund managers, traders, corporate executives, and at least two lawyers in connection with the US Government's crackdown on insider trading, writes The American Laywer. Arthur Cutillo, an intellectual property litigation associate in the New York office of Ropes & Gray, is one of the individuals charged in the scheme.
4 minute read

International Edition

Law professor withdraws legal blog lawsuit

A law school professor has withdrawn a lawsuit accusing the legal blog Above the Law of publishing a "viciously racist series of rants" after reporting the professor's arrest for suspicion of soliciting prostitution, writes The National Law Journal. University of Miami School of Law professor Donald Marvin Jones dropped his lawsuit against the popular US blog on Wednesday (4 November), nine days after he filed it pro se in the US District Court for the Southern District of Florida.
3 minute read

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