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International Edition

White & Case under scrutiny as 12 finance partners quit for Latham

White & Case has been hit by a 12-partner walkout to US rival Latham & Watkins. It was confirmed on 29 January that a four-partner banking team has quit the London office, with Chris Kandel, the co-head of London bank finance, leaving alongside partners Sam Hamilton, Brian Conway and Jayanthi Sadanandan.
2 minute read

International Edition

Lovells brings in former Reed Smith partner to build Middle East practice

Lovells has hired former Reed Smith partner Stephen York to head up its Middle East dispute resolution practice. York, who left Reed Smith's London office last autumn, will join Lovells next week (1 February) as a consultant, with a brief to grow the firm's regional disputes practice.
2 minute read

International Edition

Eversheds gears up to launch its own outsourcing business

Eversheds is in talks to set up an outsourcing business with its South African ally, positioning it to become the first major law firm to enter the legal outsourcing market. The firm this month launched a six-month pilot which will initially see it approaching clients about outsourcing in-house legal work to its South African ally, which last year rebranded from Routledge Modise to Eversheds. The firm is also planning to send some of Eversheds' own UK legal work to South Africa to cut costs as part of the trial.
3 minute read

International Edition

White & Case and CC act on $2.6bn Saudi securities deal

Clifford Chance (CC) and White & Case's Saudi bases have taken lead roles on a $2.66bn (£1.66bn) fundraising by petrochemical giant Saudi Basic Industries Corporation (SABIC). The deal, which has a local currency value of SAR10bn, closed last month (29 December) and marked the largest notes programme in the Kingdom of Saudi Arabia in 2009.
2 minute read

International Edition

Herbert Smith transfers senior associate to Riyadh for Saudi finance launch

Herbert Smith is to launch a finance practice in Saudi Arabia with the relocation of Dubai-based senior associate Adil Hussain to Riyadh. Hussain joined the UK top 10 firm in November from Sharia-compliant City investment bank Gatehouse Bank, where he was general counsel. He will be Herbert Smith's first full-time lawyer based with its Saudi alliance firm Al-Ghazzawi Professional Association, which the firm entered into an excusive relationship with last year.
2 minute read

International Edition

Global 100

A closer look at the key players in Legal Week and The American Lawyer's 2009 Global 100 rankings - including the full table of results...
1 minute read

International Edition

Debt chaos signals the end of West's love affair with Dubai

It was already looking somewhat strained, but now the West's love affair with the debt-fuelled desert oasis of Dubai has come to an abrupt halt. While the initial panic in response to the Dubai Government's decision two weeks ago to ask creditors for a debt standstill on the obligations of Dubai World has died down, there is no doubt the emirate's reputation as a business centre has taken a knock.
4 minute read

International Edition

Morris: Reports of Dubai's death are greatly exaggerated

"The reports of my death are greatly exaggerated" said Mark Twain when his obituary was published. And so might be said about Dubai. It doesn't mean the emirate isn't feeling lousy, but the story isn't finished - the patient is sick and the cure may be hard to find, but the schadenfreude and stereotyping do no justice to the problem. My firm - Denton Wilde Sapte - has for years been heavily committed to the Middle East, a region containing immense wealth and natural resources. The feedback from our clients - and we've been operating in the region since the early 1960s - is that, Dubai's role as a centre, a regional hub, and a tolerant and exciting place to live, will remain. If we judged the economic future of any city primarily by ostentation, profligacy and an excess of property speculation, then New York and London would be written off too. The fact is that there are some great and ingenious businesses in the emirate, and they will survive.
4 minute read

International Edition

Africa

Werksmans, Edward Nathan and PLMJ assess the key business law issues facing Africa.
1 minute read

International Edition

DLA makes new round of layoffs in Middle East as market slumps

DLA Piper has made a new round of job cuts in the Middle East, with the firm set to make another 9% of staff in the region redundant in response to the continued deterioration in the markets. The latest round of cuts, which follow a review of the business, equate to seven lawyers and 10 support staff losing their jobs with effect from Monday (7 December). The firm did not provide a breakdown of the job losses but said the majority of the layoffs were in Dubai and affected the construction, real estate, project finance and development projects teams.
2 minute read

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