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International Edition

Hong Kong ranks third most popular destination with expat lawyers - survey

Hong Kong is the third most popular destination in the world for expatriate lawyers, according to a new report commissioned by business school ESCP Europe and recruiter Hydrogen. Some 9% of legal professionals surveyed ranked the North Asian financial hub as their preferred relocation destination, beating Australia, which was the favourite of 7%, and Canada which was number one among 6%.
3 minute read

International Edition

Ex-Cobbetts partners face £100k penalty to break two-year DWF lock-in

Legacy Cobbetts partners could face a financial penalty of up to £100,000 if they choose to break the two-year lock-in set out in the failed firm's pre-pack purchase agreement with DWF. The former Cobbetts partners, who had their capital contributions protected following the Manchester firm's collapse earlier this year, all joined DWF as fixed-share partners as part of the £3.8m distressed purchase. In order to protect its investment, DWF imposed a two-year lock-in on the transferring partners and it is now understood that this includes a release clause penalty of £100,000 for any partners trying to leave during the first year and £70,000 for any trying to leave in the second.
2 minute read

International Edition

Singapore's Stamford Law hires Norton Rose funds partner

Singapore firm Stamford Law has added to its corporate team with the hire of Norton Rose funds partner Daniel Yong. Yong, who will be the first dedicated funds partner for the firm and a director in the corporate department, boosts the number of overall partners at Stamford to 16.
2 minute read

International Edition

Bingham launches Tokyo funds practice with seven-lawyer White & Case team

Bingham McCutchen has launched a funds practice in Tokyo with the hire of a seven-lawyer team from White & Case. Partners Christopher Wells and Tomoko Fuminaga, who headed the investment funds and regulatory team at the US rival firm, have joined the Boston-headquartered outfit this week along with five associates.
3 minute read

International Edition

Herbert Smith seeks cash injection of up to £20m from equity partners

Herbert Smith has issued a cash call to its equity partners, of up to £20m, ahead of its full financial merger with legacy Australian firm Freehills. The outfit, whose partnership with Freehills went live on October 1 last year, has asked its equity partners to pay £2,000 per equity point into the firm, in a bid to improve its capital structure.
3 minute read

International Edition

Linklaters boosts Washington tax practice with Bingham partner duo

Linklaters has strengthened its US tax practice with the hire of a partner duo from Bingham McCutchen. David Brockway and Jasper Howard join the magic circle firm's Washington DC office with immediate effect. Brockway previously served as chief of staff of the Joint Committee on Taxation of the US Congress and specialises in international tax planning. He focuses on corporate acquisitions and disposals, cross border structured finance and asset-based finance transactions.
2 minute read

International Edition

Sidley Austin bulks up in Singapore with Morgan Lewis & Bockius partner

Sidley Austin has taken further steps to ramp up its Singapore practice this week with the hire of Morgan Lewis Bockius M&A partner Gregory Salathé. The US firm was one of the four international outfits granted a Qualifying Foreign Law Practice (QFLP) licence in the Asian city-state in February this year, allowing it to advise on local law.
3 minute read

International Edition

Baker & McKenzie boosts Sydney team with DLA hire

Baker & McKenzie has added to its Sydney team with the appointment of DLA Piper life sciences partner, Amanda Turnill. Turnill, who was also based in Sydney with DLA, co-chairing the firm's global life sciences group and heading the practice in Asia Pacific, joins the US firm this week.
2 minute read

International Edition

Newly merged Bond Dickinson to combine partnerships with two-tier structure

Newly merged Bond Dickinson is planning to revamp its partnership into a single two-tier structure as the firm's management pushes ahead with the integration of legacy firms Bond Pearce and Dickinson Dees. The union, which went live on Wednesday (1 May), will see the firm adopt Dickinson Dees' two-tier partnership rather than Bond Pearce's three-tier structure, with the merged firm to operate a full equity and junior equity rank with a modified lockstep. A final decision on the move is expected later this year, but it is likely to see Bond Pearce's 25 fixed-share members, who are effectively salaried partners, join either the junior or full equity rank.
3 minute read

International Edition

Transfer Window Asia: recent moves including Hogan Lovells and K&L Gates

Hong Kong law firm Deacons has added to its corporate team with the hire of private equity partner Robert Woll from Wilmer Cutler Pickering Hale and Dorr (WilmerHale). Woll, who headed the US firm's Beijing office for six years, is a specialist in M&A and private equity transactions, and deals involving venture capital and real estate investment funds.
6 minute read

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