Dealmaker: Steven Cottee
LG restructuring partner Steven Cottee tells of his bake-off victory and encourages good dental hygiene...
February 16, 2011 at 06:30 AM
3 minute read
LG restructuring partner Steven Cottee tells of his bake-off victory and encourages good dental hygiene
What's your proudest professional moment? Managing to qualify as a solicitor and, not far behind that, finishing second place in the highly competitive secondee bake-off while I was on secondment at the Royal Bank of Scotland.
…and worst day on the job? We were about to complete a pre-pack administration at 7pm on Christmas eve only to find out that the appointment documents that had just been faxed to the High Court had not been received as the High Court fax machine was out of paper.
What's the closest you have come to doing something other than law? See above.
Aside from your clients, which business figure do you most admire and why? Sir Philip Green, for his ability to continue to make money whatever the economic climate. Although arguably it would be nice if he paid some UK income tax as well.
What's the best business book you have read? Too Big to Fail by Andrew Ross Sorkin.
Has the recession changed the face of the legal profession? Yes, though we will only start to see the actual effects over the next 12-18 months when there will be a number of law firm insolvencies and more M&A activity, particularly among mid-sized firms. A number of smaller practices have already struggled with personal indemnity renewals and a number also struggled to pay their partner tax bills at the end of January this year.
To what extent do you think the legal profession needs to change over the next 20 years? A massive change is required. The Legal Services Act will be a catalyst for such change. The shape of the legal market in even five years will look very different to today. Tesco law will change the face of high street firms and we will see the use of private equity for larger firms with distinct offerings.
What's the most memorable deal you've ever worked on and why? Acting for Hill Dickinson on the Halliwells administration – I have never come across so many lawyers on one transaction and it was fascinating to see the different approaches taken by the various firms involved.
What most annoys you about the banking profession? Most of my clients are banks, so I'm not going to criticise the banking profession, even though pretty much everybody else is at the moment!
What is the daftest piece of corporate jargon you have heard (and did you smirk)? When the lawyer on the other side asked whether the proposed pre-pack administration should in fact be a post-pack administration – and yes, I did smirk.
What's your favourite fictional representation of a lawyer and why? All of the lawyers on This Life.
To what extent do you agree with the following statement "Ally McBeal was a crime against a) the legal profession, b) television, c) the public"? I definitely agree with all of the above, though my wife would have a different view.
What's your motto? Always look after your teeth, which was the only piece of advice my grandad ever gave to me.
Who has been the biggest influence on your career? My bank manager.
What's your favourite cheese? Brie de Meaux or Vacherin.
Visit Legal Week's Dealmaker archive to read more profiles.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllBig Law Heavyweights Wrestle in High-Stakes Sale of Venezuela’s Citgo
Cleary vs. White & Case: NYC Showdown Over $5 Billion Brazilian Bankruptcy
Singapore's Drew & Napier Secures $3.5B Award in Civil Suit
Trending Stories
- 1South Florida Attorney Charged With Aggravated Battery After Incident in Prime Rib Line
- 2'A Death Sentence for TikTok'?: Litigators and Experts Weigh Impact of Potential Ban on Creators and Data Privacy
- 3Bribery Case Against Former Lt. Gov. Brian Benjamin Is Dropped
- 4‘Extremely Disturbing’: AI Firms Face Class Action by ‘Taskers’ Exposed to Traumatic Content
- 5State Appeals Court Revives BraunHagey Lawsuit Alleging $4.2M Unlawful Wire to China
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250