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International Edition

Macfarlanes advises as Trafigura class action reaches £30m settlement

The long-running class action brought by 30,000 claimants against oil company Trafigura has settled for £30m. The settlement, approved by Mr Justice MacDuff yesterday (23 September) will see the claimants, represented by Leigh Day & Co, receive £950 each. The class action claimed that they were poisoned by 'slops' - toxic waste dumped near Abidjan, Ivory Coast in 2006.
2 minute read

International Edition

Norton Rose hires A&O and Eversheds partners in City push

Norton Rose has secured two partner hires for its City headquarters - strengthening its corporate finance and dispute resolution practices. Former Allen & Overy (A&O) corporate partner Ian Lopez is set to join the top 10 City firm's corporate practice next month and will sit within the firm's communications, media and technology team.
2 minute read

International Edition

Jon Fortnam: Buffett's ebbing tide makes professionals claim targets

Warren Buffett remarked that 'only when the tide goes out do you discover who's been swimming naked'. Professionals may - rightly or wrongly - be targets for the deflection of some of the ensuing embarrassment. Professional negligence claims are already on the increase.
4 minute read

International Edition

US litigation: Prevention is the best defence

According to a recent study by PricewaterhouseCoopers, the number of securities class actions filed in the US against non-US companies hit an all-time high in 2008. Numerous factors contributed to this trend, and none show signs of reversing any time soon. European companies can reduce their exposure to the risk of US securities litigation by employing preventative measures, including best practices for internal investigations.
5 minute read

International Edition

The Bank of America Chronicles: pondering the bank's litigation strategy

It didn't come as a complete surprise to us, but federal district court judge Jed Rakoff's fire-breathing rejection of Bank of America's $33m (£20m) settlement with the Securities and Exchange Commission (SEC) was a stunner. His anger at BoA and the SEC radiated off the page. They didn't tell him what he wanted to know - namely, who was responsible for disclosure decisions about the $5.8bn (£3.5bn) approved for Merrill Lynch bonuses - and he wasn't buying either sides' arguments about why this settlement was reasonable.
3 minute read

International Edition

Linklaters and Stewarts lead on €30m Dresdner bonus dispute

Seventy-two current and former Dresdner Kleinwort bankers have launched a €30m (£26m) claim in one of the first major banking bonus-related cases to be brought in the UK in the wake of the credit crunch. The claim, filed in the High Court today (8 September) sees Dresdner bankers attempting to secure bonuses and interest amounting to €33.6m which they say was not paid to them following the bank's takeover by Commerzbank last year.
2 minute read

International Edition

High-profile Skadden litigation partner quits firm to join Hogan

Skadden Arps Slate Meagher & Flom partner Robert Bennett is leaving the firm to join Hogan & Hartson, reports The Am Law Daily. Bennett, who was co-leader of both the international government enforcement litigation group and the criminal and civil litigation practice in Skadden's Washington DC office, will join Hogan along with fellow defence litigator Carl Rauh. The pair had been at Skadden since 1990.
2 minute read

International Edition

Macfarlanes adds partner duo with A&O and Jones Day laterals

Macfarlanes has made a double partner hire to strengthen its restructuring and litigation teams with Francis Bridgeman and Barry Donnelly joining from Allen & Overy (A&O) and Jones Day respectively. Jones Day partner Donnelly and former A&O consultant Bridgeman will both join Macfarlanes' partnership later this month (10 September), with the firm predicting an increase in litigation and restructuring mandates in the wake of the credit crunch.
2 minute read

International Edition

Pinsents Hong Kong partner joins Lovells in Singapore

Pinsent Masons has lost a partner in Hong Kong, with construction disputes specialist Paul Teo set to relocate to Singapore to join Lovells. Teo joins the top 10 UK law firm later this month, where he will be part of the infrastructure and construction group and the office's arbitration practice.
2 minute read

International Edition

Career Clinic: Are legal directories a reliable guide?

"I'm a two years' qualified litigator with a mid-tier City firms, mainly doing general negligence work, but I'm interested in moving into financial services litigation or regulation, probably with another firm. However, I feel like I need to know more about the area, including getting a better handle on the firms that excel in this type of work. "My question is - how reliable are legal directories in terms of working out which firms are really committed to individual practice areas?
1 minute read

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