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Trio of firms in dispute over Lehman bankruptcy fees cut
Three US law firms are in a dispute over fees on the mammoth US bankruptcy of Lehman Brothers - which has already generated $300m (£200m) in legal costs - after their fees were reduced by marginal amounts, writes The Am Law Daily The fees dispute ...
18 Mar 2010 | 17:21
Shearman becomes latest firm to revamp pay for UK associates
Shearman & Sterling is to ditch associate lockstep for all of its lawyers in the UK, Asia and the Middle East in favour of a merit-based pay system. The new system, which will be effective from 1 May, will see all associates assessed twice a year a...
18 Mar 2010 | 16:03
White & Case City base posts 20% drop in revenues for 2009
White & Case's London office has emerged as the worst performing City arm of a US law firm in 2009 - a year in which results varied significantly between firms. White & Case saw London revenues plunge by just under 20% to $197m (£130m) during the ...
18 Mar 2010 | 00:01
Milbank revamps lockstep pay structure for London associates
Milbank Tweed Hadley & McCloy has become one of the first leading New York firms to move away from pure associate lockstep to a pay structure that also takes into account individual performance. The firm has introduced a three-tier banding system i...
18 Mar 2010 | 00:01
Milbank sees partner profits rise by 5% against fall in revenues
Milbank Tweed Hadley & McCloy has posted increased partner profits for 2009, despite a slight dip in revenue, reports The Am Law Daily. The firm's turnover fell by 3% to $601.5m (£391.7m), while the number of lawyers dropped by 8% and the firm's p...
17 Mar 2010 | 12:13
O'Melveny and Squire Sanders overhaul City management teams
US law firms O'Melveny & Myers and Squire Sanders & Dempsey have overhauled their London management. O'Melveny has named investment funds partner Solomon Wifa as the new head of its City office, with Wifa replacing funds partner John Daghlian, who ...
17 Mar 2010 | 10:41
Dewey appoints first London head since 2007 LeBoeuf merger
Dewey & LeBoeuf has named litigator Peter Sharp as the head of its London office. Sharp's appointment marks the first time the firm has had a office head in the City since the 2007 merger of Dewey Ballantine and LeBoeuf Lamb Greene & MacRae.
16 Mar 2010 | 15:47
Simpson Thacher and Wachtell lead on Apax's $3bn Tommy Hilfiger sale
Simpson Thacher & Bartlett and Wachtell Lipton Rosen & Katz have taken lead roles on buyout house Apax Partners' sale of Tommy Hilfiger to US clothing giant Phillips-Van Heusen for $3bn (£1.9bn). The sale comes around four years after Apax purchas...
16 Mar 2010 | 10:27
Unwanted attention: Linklaters takes headline role in Lehman report
For our purposes, the highlight of the 2,200-page report released last Thursday (11 March) examining the demise of Lehman Brothers starts at around page 700, when the examiner, Jenner & Block chair Anton Valukas, delves into the accounting tricks Lehm...
15 Mar 2010 | 12:04
Davis Polk posts 10% profits hike as elite NY trio unveil 2009 financials
Davis Polk & Wardwell has posted a 10% increase in profits per equity partner (PEP) for 2009, marking the firm out as one of the strongest performers among New York's elite law firms, reports The Am Law Daily. The firm also saw revenues rise by 7%,...
15 Mar 2010 | 10:25
College of Law to offer New York Bar course for UK law students
The College of Law has unveiled a new course that will enable students to sit the New York Bar exam. From September, students sitting the full-time Graduate Diploma in Law programme who go on to complete either the Legal Practice Course (LPC) or Ba...
12 Mar 2010 | 14:52
Linklaters opinion letter at centre of Lehman funding controversy
Linklaters has been embroiled in a fresh controversy over the collapse of Lehman Brothers after a new report revealed that the bank relied on an opinion letter from the firm for a transaction that flattered its financial strength. A report publishe...
12 Mar 2010 | 13:37
Mayer Brown partner quits to join Gibson Dunn's Brussels base
US firm Gibson Dunn & Crutcher has recruited a Mayer Brown antitrust partner in Brussels. Andres Font Galarza, who started at Gibson Dunn today (12 March), is also a former senior official of the European Commission's directorate general for compet...
12 Mar 2010 | 12:48
US briefing
Can the SEC's new head of enforcement get the battered watchdog back on track? Plus a look at the Wall Street firms back from the abyss...
12 Mar 2010 | 09:37
Simmons insurance chief joins Cadwalader
Cadwalader Wickersham & Taft has made its first lateral partner hire in the City since losing a seven-partner team to Paul Hastings Janofsky & Walker in January 2009. Simmons & Simmons insurance and reinsurance head Jennifer Donohue is set to join ...
11 Mar 2010 | 13:15
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