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International Edition

DLA Piper cuts 10 Hong Kong jobs in capital markets amid IPO slump

DLA Piper has made around 10 job cuts in Hong Kong amid an ongoing drop-off in capital markets work in the region. The group, which comprises associates and legal assistants in the firm's regional capital markets practice, is understood to have been laid off last month after news emerged in December that the firm planned to make a small number of redundancies across its Asia Pacific offices.
3 minute read

International Edition

DLA's Angel joins David Cameron's trade delegation to India

DLA Piper global co-chairman Tony Angel is joining Prime Minister David Cameron on his high-profile business delegation to India. The former Linklaters chief has been invited by the Government to join Cameron on the three-day trade-focused visit this week - the largest single business delegation taken to any country by the UK to date.
2 minute read

International Edition

Axiom sends legal work for key client EA to India as firm opens up new base

Alternative legal services provider Axiom is officially opening its new India base for business on Monday (18 February), with video game giant Electronic Arts (EA) on board as the office's first client. The formal launch comes after Legal Week revealed last August that Axiom was in the process of establishing a 5,500 sq ft base in Gurgaon to offer its clients a more cost-effective service in the region.
3 minute read

International Edition

Crunch time – the real work is just beginning for Norton Rose

Five quick-fire international mergers and three-and-a-half years are all it will have taken Norton Rose to transform its business from struggling UK mid-tier practice to global giant by the time its merger with Fulbright & Jaworski goes live this summer. Any way you look at it, the scale of what the firm has achieved is impressive, as our analysis this week illustrates. Even rivals – usually quick to criticise – readily concede that the mergers Norton Rose has pushed through are hard to knock.
3 minute read

International Edition

Iberia

Caroline Hill asks whether Spain's new 'bad bank' will help boost its economy, while Freshfield Bruckhaus Deringer looks at China's growing interest in Spanish companies
1 minute read

International Edition

Firms tackle debt conundrum as LLP accounts expose borrowing burden

Half of the UK's 20 largest law firms are carrying some degree of bank borrowing, limited liability partnership (LLP) accounts have revealed, as law firm debt comes increasingly into focus in the wake of the recent collapse of Cobbetts. Accounts filed with Companies House for the 2011-12 financial year show that 10 of the UK top 20 are carrying debts, with seven seeing their debt increase since the 2010-11 financial year: DLA Piper, Herbert Smith Freehills, Clyde & Co, Simmons & Simmons, Berwin Leighton Paisner, Irwin Mitchell and SJ Berwin.
4 minute read

International Edition

Partners predict further law firm failures as recent collapses shake confidence

The vast majority of partners believe it is likely that more large law firms will collapse over the next two years, according to new Legal Week research. In the wake of Cobbetts' recent rescue takeover by DWF and Dewey & LeBoeuf's implosion last year, the latest Big Question survey found 95% of respondents acknowledging the possibility that more large corporate law firms would fail in the near term, including 32% who believed another collapse in the next two years was 'likely' and a further 42% describing such an event as 'very likely'.
5 minute read

International Edition

And now for the hard part – after five mergers, can Norton Rose's CEO tackle his biggest challenge yet?

When Norton Rose's merger with US firm Fulbright & Jaworski goes live on 1 June, it will have completed its fifth tie-up in just three-and-a-half years. Given that even one merger is beyond the ability of many of the UK's leading players, the achievement cannot be underestimated. The unions mean that in just 42 months, Norton Rose will have transformed itself from an also-ran UK law firm with a smattering of international offices and turnover of £314m into a global giant operating in 55 locations around the world with revenues approaching £1.3bn.
28 minute read

Legal Week

Crunch time – the real work is just beginning for Norton Rose

Five quick-fire international mergers and three-and-a-half years are all it will have taken Norton Rose to transform its business from struggling UK mid-tier practice to global giant by the time its merger with Fulbright & Jaworski goes live this summer. Any way you look at it, the scale of what the firm has achieved is impressive, as our analysis this week illustrates. Even rivals – usually quick to criticise – readily concede that the mergers Norton Rose has pushed through are hard to knock.
23 minute read

International Edition

4-5 Gray's Inn set to merge with public law set Atlas Chambers

4-5 Gray's Inn Square has merged with public law specialist Atlas Chambers, with Atlas director John Lister and a team of eight barristers set to start operating under the 4-5 Gray's Inn Square banner.
2 minute read

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