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International Edition

SFO assistant director takes up new role

Serious Fraud Office (SFO) assistant director Helen Garlick has joined Nardello & Co as senior director of investigations. Garlick joins the investigative firm after serving as assistant director at the SFO for five years.While at the SFO, Garlick was named as the organisation's first head of the overseas corruption unit and led the high-profile investigation into BAE Systems.
2 minute read

International Edition

Halliwells grants RBS enhanced rights in loan deal

Halliwells has made the rare move for a law firm of agreeing a loan arrangement which effectively gives a bank security on the firm's assets.Information obtained from Companies House shows that the national law firm agreed a debenture with Royal Bank of Scotland (RBS) which gives the bank a "fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant and machinery".The debenture agreement - made in December and rarely used by law firms - would give the bank greater rights in the event of the firm going into administration, boosting its position as a creditor and giving it greater control of assets.
2 minute read

International Edition

The value of humble pie

Legal Week Intelligence's FTSE Client Satisfaction Report 2008, published last November, is a timely reminder of the extent to which many in-house counsel at leading corporates feel neglected by their law firms. They complain that large City firms in particular have been concentrating on lucrative mandates from banks and private equity houses at their expense. Now that such work has dried up, the report suggests that many companies may be less than receptive to firms' renewed advances."We were not as important as we used to be," says Hank Udow, chief legal officer at Cadbury. "And now, suddenly, we're important again." He believes it was natural that firms prioritised certain areas during the boom years. "But the bottom line is that they didn't show institutional loyalty, and institutional loyalty works both ways."
7 minute read

International Edition

Nabarro, Wragges land Mercedes-Benz panel roles

Mercedes-Benz has completed a review of its legal advisers with Nabarro and Wragge & Co winning new instructions from the luxury car company. The UK duo beat off competition from around 11 other firms vying for the two places on the auto manufacturer's panel. Pinsent Masons and Shoosmiths, who were both appointed to the panel in 2005, miss out on instructions this time round.Commenting on the review, Mercedes general counsel Iain Larkins said; "There are a variety of issues we looked at before choosing Nabarro and Wragges; the biggest of which was that they were the firms we felt were most likely to deliver on their promises. It really was a close-run thing."
2 minute read

International Edition

Wal-Mart appoints new general counsel

Wal-Mart has appointed deputy general counsel Jeff Gearhart as its new legal chief. The US retail giant has promoted Gearhart to the role of general counsel following the appointment of previous GC Tom Mars as Wal-Mart's first chief administration officer.Gearhart, who became deputy general counsel in 2007, joined the company in 2003 as general counsel for the Wal-Mart corporate division. In his new position, he will be responsible for all legal matters affecting the team both in the US and abroad.Mars will now be responsible for the company's compliance department as well as looking after human resources functions and employment matters for Wal-Mart US divisions
2 minute read

International Edition

Banks push for alternative billing as claims rise

Banks are clamping down on litigation fees as they move to cope in the face of spiralling claims against financial institutions. Top City firms are reporting growing numbers of banks pushing for alternative billing methods for litigation cases, with Barclays and Royal Bank of Scotland as well as a number of US investment banks understood to be among those increasing pressure on fees. Some banks facing bulk claims in response to failed finance deals are pushing for alternatives such as fixed rates per case, while others are trying to secure discounts on traditional hourly billing models that would see hourly rates reduce the longer the case progresses.
2 minute read

International Edition

BoA GC takes top Euro law job after Merrill

Bank of America Europe Middle East and Africa (EMEA) head of legal, Sajid Hussein, has retained his position following the bank's acquisition of rival Merrill Lynch. Hussein will lead the merged legal function while Rob Everett, general counsel of EMEA for Merrill Lynch, is set to take up another position - yet to be confirmed - within the combined bank.As part of his expanded role, Hussein will also be responsible for the merged bank's legal work in the UK. News of Hussein's appointment follows a number of changes at the combined function following Bank of America's $50bn (£38bn) takeover of Merrill Lynch in September.
2 minute read

International Edition

Easy as one QC?

Last June the de Grazia report slammed the Serious Fraud Office (SFO) for its low conviction rates and unfocused investigations, recommending, among other things, the appointment of a general counsel to oversee its team of 60 lawyers.Cue a period of soul-searching, the departure of former director Robert Wardle - replaced by Richard Alderman - and a recruitment process for the SFO's first ever GC, culminating in the arrival of leading criminal silk Vivian Robinson QC from QEB Hollis Whiteman chambers. Robinson, who will not formally take up his role until 14 April due to outstanding commitments, is making regular trips to the SFO's Holborn headquarters - conveniently located around the corner from QEB's building in the Temple - to familiarise himself with the challenges that lie ahead.
6 minute read

International Edition

SocGen shakes up adviser roster in global review

A raft of City firms have won places on Societe Generale's (SocGen's) global legal panel, in a review that has seen Freshfields Bruckhaus Deringer, White & Case and Orrick Herrington & Sutcliffe lose out. The bank has cut the number of global panel firms from nine to eight with Paul Hastings Janofsky & Walker and Salans winning places on the roster. The process has also seen Allen & Overy, Clifford Chance, Gide Loyrette Nouel, Shearman & Sterling, Linklaters and Norton Rose re-appointed.
2 minute read

International Edition

Newly-merged drinks giant names new legal VP for Western Europe

Anheuser-Busch InBev has appointed UK and Ireland legal director Claude Bahoshy as its new vice president of legal for Western Europe. Bahoshy, who took up the new role earlier this week, replaces long-serving Anheuser-Busch lawyer Oleg Moubarakshin, who is leaving the company after 11 years in the post.Bahoshy, who joined the company in 2002, will retain responsibilities for the UK while the company decides whether or to replace the UK role.
2 minute read

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