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International Edition

Simmons reconsiders opening Beijing arm

Simmons & Simmons is considering reviving its shelved plans to open in Beijing. The firm, which is particularly keen to tap into demand from clients in the energy sector, is reviewing a proposal to extend its mainland China presence beyond Shanghai, despite the economic crisis. The plans come after the firm brought in Asia head of projects, Brian Downie, from Minter Ellison in November 2008 and energy partner Tom Deegan from Denton Wilde Sapte in 2007 in Hong Kong.
2 minute read

International Edition

Eversheds hires five-partner DLA HK team

Eversheds has boosted its new office in Hong Kong with the hire of a five-partner team from DLA Piper. Banking partners King Tak Fung and Michael Yau and litigation partners Ivan Ng, Ronald Sum and William Leung will join Eversheds over the next three months, while the firm has also recruited Fried Frank corporate partner Stephen Mok, who will join next month (1 March).Eversheds launched in Hong Kong last year with the hire of Heller Ehrman Asia head Nick Seddon.
2 minute read

International Edition

Japan set to ramp up restrictions on junior staff

Japan's umbrella Bar group has shaken up the country's international legal community by stating that all foreign lawyers, regardless of position, must be formally registered to practise. Most foreign law firm partners are registered as gaikokuho-jimu-bengoshi, or gaiben, but the majority of associates and counsel are not. In a letter issued on 27 January, the Japan Federation of Bar Associations stated that "even if a lawyer qualified in a foreign country who has not been registered as a registered foreign lawyer is not a partner, but an associate, assistant, advisor, consultant, of counsel or any person with another title or position, providing any service that is substantially a legal service will constitute a violation of Article 72 of the Attorney Act."
3 minute read

International Edition

India is first choice for referrals, say UK firms

India has emerged as the most important emerging market referral country for UK law firms, according to new research that highlights the differences between UK and US firms' approaches to key emerging economies. Legal Week Intelligence's 2008 Emerging Markets Report shows that while India is followed by Russia and the United Arab Emirates (UAE) as the biggest destination of referral work for UK firms, Brazil is deemed the biggest referral market for US firms. China, despite its increasingly powerful position in the world economy, was flagged by relatively few UK or US firms.
3 minute read

International Edition

Analysis: Market forces

Among the mining companies, banks, and the rest of Australian corporate might on Sydney's stock exchange, it is easy to miss. The share price acronym, SGH, hardly gives the game away. But Slater & Gordon Holdings is a world first.In May 2007 the Melbourne-based plaintiffs firm became the first law firm ever to go public. Overnight, the firm's seven senior lawyers - effectively the equity partners, although Slater & Gordon (S&G) ditched its partnership when it incorporated in 2001 - saw their stakes in the business converted into shareholdings worth between A$2.7m (£1.25m) and A$10m (£4.9m) at the A$1 offer price. Three of the most senior lawyers - managing director Andrew Grech, executive director Peter Gordon, and senior personal injury specialist Paul Henderson - made A$4.6m (£2.2m) that day by selling part of their stakes.During the past 20 years S&G has gone from a law firm with an uncertain future to a public company with a market cap of about A$140m (£66m), its share price now hovering around the A$1.30 mark. It has profited from a radical overhaul of the legislative and regulatory framework in the Australian legal market that has enabled firms to form multidisciplinary partnerships with non-lawyers, to incorporate and, starting in 2004, to seek external investment. As such, the firm has been understandably viewed as a bellwether for the revolution set to sweep through the UK under the Legal Services Act, which will usher in full external investment in law firms by 2011. For the 21st century law firm, going public is suddenly an increasingly viable option.
17 minute read

International Edition

Eversheds seals Singapore launch with DLA hire

Eversheds has continued its Asian expansion with the opening of a new office in Singapore, while the firm is also in the early stages of preparation for a Hong Kong launch. The firm has recruited DLA Piper's former Singapore managing partner Desmond Ong to head up the new operation. Ong quit as DLA's Singapore chief last November and was replaced by Linklaters partner Martin David.The Singapore office will be Eversheds' second office in Asia in addition to its Shanghai base, with Hong Kong set to become the third. Last year Eversheds recruited former DLA Piper and Heller Ehrman Asia head Nick Seddon to lead the Hong Kong launch.
2 minute read

International Edition

Lovells powers up with Herbert Smith hire to build Tokyo energy practice

Lovells is launching an energy practice in Tokyo with the hire of a lawyer from Herbert Smith's Japanese arm. Anthony Raven, who had spent the last year on secondment to Mitsubishi, joined Lovells as a partner yesterday (21 January) from top 10 rival Herbert Smith, where he was a senior associate. His hire comes after Lovells last year hired its first dedicated energy partner in Singapore with the addition of White & Case partner Brad Roach in July.
2 minute read

International Edition

Sidley and DLA Piper secure roles on Asia IPO

Sidley Austin and DLA Piper have played key roles in one of the first initial public offerings (IPOs) of the year on the Hong Kong Stock Exchange. Sidley Austin served as issuer's counsel to Chinese oil products trader Strong Petrochemical Holdings, whose 12 January IPO raised about HK$250m (£21m).The firm's team was led by Hong Kong partner Constance Choy, alongside associates Eugene Lai and Iris Yuen. China's King & Wood represented Strong on issues involving mainland Chinese law. DLA Piper represented the sponsor and underwriter, China Everbright Capital. The DLA Piper team was led by partner Esther Leung.
2 minute read

International Edition

Amarchand drafted in to handle 'India's Enron'

Embattled technology outsourcing company Satyam Computer Services has hired one of India's top law firms to advise it on issues arising from the accounting fraud scandal that has rocked the local business community. Amarchand & Mangaldas & Suresh A Shroff & Co was appointed legal adviser to the board of directors at a meeting convened on Saturday (17 January) at Satyam's Hyderabad headquarters.The Mumbai-based Amarchand is one of the largest firms in India with over 400 lawyers. It is also one of the most familiar to US and UK lawyers, as it commonly advises on Indian law aspects of major cross-border deals. The firm counts as clients major Indian conglomerations like the Ambani brothers' Reliance Group as well as major multinationals.
2 minute read

International Edition

Herbert Smith wins global role on Nortel collapse

Herbert Smith has won the lead role on the administration of the UK subsidiary of telecoms manufacturer Nortel, a deal which will see the UK firm representing the company throughout 18 jurisdictions. The firm was appointed by administrators Ernst & Young after it had been advising Nortel on pre-administration matters.
2 minute read

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