Isabelsr's Blog

isabelsr — Tue, 15 Sep 2009 03:33:39 +0000

Student round-up: BPP signs Dechert and CoL targets in-house

http://www.legalweek.com/legal-week/news/1533246/student-round-bpp-signs-dechert-col-targets-house

Alex Aldridge legalweek

Dechert has become the latest law firm to sign an exclusive training deal with an external provider. The agreement, which starts this month, will see the Anglo-American firm’s future

Dechert has become the latest law firm to sign an exclusive training deal with an external provider.

The agreement, which starts this month, will see the Anglo-American firm’s future UK trainees study at BPP Law School in London, Leeds or Manchester.

It takes the total number of major law firms sending future trainees exclusively to BPP to 18. The College of Law has tie-ups with 17 firms and Kaplan Law School has nine deals, having signed up Field Fisher Waterhouse and Mills & Reeve last month.

Meanwhile, the College of Law has introduced a new professional skills course targeted specifically at those undertaking training contracts in the legal teams of companies. The course, which begins in October, was designed by Rachel Short, who spent nine years as a director in the finance group at US investment bank Citigroup.

It considers in-house lawyers’ duties to their employers, as well as their relationship with third parties, and also recognises that solicitors working in-house will not have the same level of regulatory support as those working in law firms.

In other student news this week, the Solicitors Regulation Authority (SRA) has approved proposals for a new Qualified Lawyers Transfer Scheme (QLTS). The scheme enables internationally-qualified lawyers, barristers and Scottish and Northern Irish solicitors to qualify as solicitors in England and Wales.

The new QLTS will be open to lawyers from a larger number of jurisdictions than at present, include a separate English language test for non-native speakers and feature more objectively assessed practical exercises.

Jonathan Spencer, chair of the SRA’s education and training committee, said: “We are confident that the new scheme will be rigorous, robust and fairer than the present system, ensuring all solicitors qualifying to practise in England and Wales have the same standards of knowledge, skills and intellect, and meet the same test of character and suitability.”

Finally, in an unusual development, Nottingham Law School is set to explore how its curriculum can be redesigned “to prompt a better understanding of emotions and values involved in teaching and learning law”. The move follows research in the US which concluded studying law often leaves students feeling stressed and detached from their studies.

Commenting on the plans, Rebecca Huxley-Binns, senior lecturer at Nottingham Law School, commented: “We’ll be looking at how the curriculum could be changed to include opportunities for discussion throughout each course. We’re not talking about one specific assessed module but a built-in aspect which recognises the emotions and feelings associated with each area of law. It should alleviate student distress and have a positive impact on drive, achievement and attainment.”

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Lovells forms alliance with local Saudi firm

isabelsr — Tue, 15 Sep 2009 03:32:59 +0000

http://www.legalweek.com/legal-week/news/1533388/lovells-forms-alliance-local-saudi-firm

14 September 2009, PM 5:17:00

Sofia Lind legalweek

Lovells has launched an alliance with a Saudi law firm in a bid to service the market on the ground. The top 10 City firm has signed an agreement with Al-Yaqoub Attorneys & Legal Advisers (AYALA), led by former Trowers & Hamlins ally Montasir Al-Yaqoub.

Lovells has launched an alliance with a Saudi law firm in a bid to service the market on the ground.

The top 10 City firm has signed an agreement with Al-Yaqoub Attorneys & Legal Advisers (AYALA), led by former Trowers & Hamlins ally Montasir Al-Yaqoub.

Al-Yaqoub is the only partner in the three-lawyer firm, although Lovells’ counsel Imran Mufti and associate Mustafa Kamal are also being seconded to the firm. Al-Yaqoub is currently based in Riyadh but will also open in Jeddah, where Mufti will be based.

Lovells said the launch came in response to increasing client demand in Saudi Arabia which has stemmed from the growth of its Middle East practice since launching in Dubai in 2007. International firms can only set up offices in Saudi Arabia in association with a local lawyer.

Lovells Asia and Middle East head Crispin Rapinet said: “For us Saudi was the next logical step for our Middle East practice. We need to have an association in order to have lawyers there and for us Montasir is the right lawyer to work with.”

“He very much thinks like an international lawyer and is someone our clients can relate to. In addition, Montasir himself also has very interesting client relationships.”

Al-Yaqoub, who previously worked with Andersen Legal and Ernst& Young, set up his own firm in 2006. The firm had an alliance with Trowers & Hamlins and another Saudi firm, The Law Office of Hassan Mahassni, however the relationship was short-lived and negotiations with Lovells began in 2008.

Lovells and Al-Yaqoub’s association will not have a formal relationship with Mahassni, although they will continue to have a referral relationship

Lovells on the Legal Week Wiki

LG looks to fixed-share partner rank in restructuring

isabelsr — Tue, 15 Sep 2009 03:32:26 +0000

http://www.legalweek.com/legal-week/news/1533418/lg-looks-fixed-share-partner-rank-partnership-restructuring

14 September 2009, PM 7:21:00

Claire Ruckin legalweek

LG is hoping to restructure its partnership structure with proposals to get rid of its salaried partner rank. The firm has been consulting with all 22 salary partners about the possibility of them joining the fixed-share partner rank – in a move that would leave LG with a two-tier structure comprising equity and fixed share partners only.

LG is hoping to restructure its partnership structure with proposals to get rid of its salaried partner rank.

The firm has been consulting with all 22 salary partners about the possibility of them joining the fixed-share partner rank – in a move that would leave LG with a two-tier structure comprising equity and fixed-share partners only.

Any move would be voluntary, with the firm waiting to hear the decisions of each individual partner. Providing it gets the support, partners will make the switch over the coming months. It is thought the discussions have looked at issues including how much capital each partner would be expected to contribute to the firm in order to join the fixed-share partnership.

The firm stated that the changes, which would be likely to cut salary costs in the short term, would help generate savings in terms of national insurance and tax.

LG currently has 12 fixed share partners which will increase to 34 if the changes go ahead, with a further 40 equity partners. Average profits per equity partner fell by 35 % during the 2008- 09 financial year down to £281,000 from £430,000 the previous year.

LG’s senior partner, Penny Francis (pictured) commented: “We are suggesting that our salaried partners move to become fixed-share partners because it makes business sense that everyone should be treated as an equity partner, whether that is junior or senior.”

Brown Rudnick bolsters City arm with Orrick partner hire

isabelsr — Tue, 15 Sep 2009 03:31:47 +0000

http://www.legalweek.com/legal-week/news/1533423/brown-rudnick-bolsters-city-arm-orrick-partner-hire

14 September 2009, PM 7:26:00

Jeremy Hodges legalweek

Brown Rudnick has grown its corporate and securities practice in the City, taking on Lena Hodge from Orrick Herrington & Sutcliffe. Hodge, a partner at Orrick, advises on general corporate matters for companies listed on London’s Alternative Investment Market (AIM).

Brown Rudnick has grown its corporate and securities practice in the City, taking on Lena Hodge from Orrick Herrington & Sutcliffe.

Hodge, a partner at Orrick, advises on general corporate matters for companies listed on London’s Alternative Investment Market (AIM).

She is the fourth partner to join the US firm’s London arm this year, following litigation partner Neil Micklethwaite’s move from litigation boutique Gherson in July with a small team. Tax partner Tracy Fisher arrived from DLA Piper at around the same time.

Hodge becomes the firm’s eighteenth partner in its London office, which the firm says it plans to by between 20%-30% over the next 18 months, according to the recent Legal Week international law firms in London survey.

Brown Rudnick’s chief executive officer, Joseph Ryan, commented: “[Hodge] has a versatile and demonstrated track record in the complexities of the equity capital markets. Her IPO expertise and cross-border perspective will be a valuable resource, particularly at a time when the investor landscape is continuously changing.”

Prior to Orrick, where Hodge had been since October 2007, she was head of corporate at US firm Mintz Levin.

Linklaters makes Cuatrecasas partner hire for Madrid office

isabelsr — Tue, 15 Sep 2009 03:31:09 +0000

http://www.legalweek.com/legal-week/news/1533465/linklaters-makes-cuatrecasas-partner-hire-madrid-office

14 September 2009, PM 9:29:39

Jeremy Hodges legalweek

Linklaters has secured a significant boost to its Spanish offering with the hire of Cuatrecasas partner Francisco Malaga to head up the firm’s litigation practice in Madrid. Malaga will be the firm’s first litigation partner in the region, although the magic circle firm already has five associates in the practice. He will take the partner count in the 70-lawyer office to 12.

Linklaters has secured a significant boost to its Spanish offering with the hire of Cuatrecasas partner Francisco Malaga to head up the firm’s litigation practice in Madrid.

Malaga will be the firm’s first litigation partner in the region, although the magic circle firm already has five associates in the practice. He will take the partner count in the 70-lawyer office to 12.

Malaga, who was a partner with Cuatrecasas, previously served as an alternate judge at the Audiencia Provincial court of Barcelona.

Sebastian Albella, a member of Linklaters’ Madrid management committee, said: “We have been looking for someone just like Francisco to lead our Spanish litigation. Our goal has always been to be able to offer to clients the highest quality integrated Spanish practice. We’re delighted to welcome him to the team.”

Linklaters’ Madrid arm saw a number of partner departures earlier this year, with four leaving to join Herbert Smith.

Herbert Smith launched in Madrid in May with three Linklaters partners – corporate partner Alvaro Sainz, energy and infrastructure partner Miguel Riano and administration law partner Ignacio Paz.

Subsequently Spanish tax head Nicholas Martin joined the City firm with a team of two associates.

However, Linklaters this year made up two lawyers to partner in the office, with Ben Crosse (banking) and Jesus Varela (real estate) joining the partnership.

Linklaters on the Legal Week Wiki

GTM hires partners for competition and IP launches

isabelsr — Mon, 14 Sep 2009 11:20:17 +0000

http://www.legalweek.com/legal-week/news/1533148/gtm-hires-watson-farley-partner-competition-launch

10 September 2009, PM 7:28:00

Emma Sadowski legalweek

Greenberg Traurig Maher (GTM) has continued its aggressive drive to build a UK practice after hiring new heads of competition and intellectual property (IP). Watson Farley & Williams competition head Stephen Tupper is set to join the US law firm on 21 September after five years with the top 50 UK practice.

Greenberg Traurig Maher (GTM) has continued its aggressive drive to build a UK practice after hiring new heads of competition and intellectual property (IP).

Watson Farley & Williams competition head Stephen Tupper is set to join the US law firm on 21 September after five years with the top 50 UK practice.

Tupper, who is dual-qualified, will bring partner headcount to eight in London. He is set to bring two associates with him and will focus on advising clients on competition and regulatory matters.

Prior to Watson Farley, Tupper was managing partner of Hammonds’ Brussels office before moving to London to head up the national law firm’s UK competition practice.

In addition, Mayer Brown City IP head Stephen Gare is to launch a new IP practice for GTM in the UK.

The hires follow a stream of recent appointments as the Florida-based Greenberg Traurig continues to invest in rapidly growing its recently-launched City arm, which is branded as GTM.

The UK practice was launched in June with the hire of a three-partner team led by former Mayer Brown co-vice chairman Paul Maher.

GTM followed up in August with the hire of three White & Case partners: banking specialists Andrew Caunt, Andrew Croxford and capital markets lawyer Tim Jeveons.

Commenting on Tupper’s arrival, London chairman Maher (pictured) said: “Stephen has a significant depth and breadth of experience in this field and clear ability to grow a practice and team that will assist us in building our London office.”

At the time of the launch, Maher was joined by fellow Mayer Brown corporate partner Cate Sharp and environment partner Fiona Adams.

Click here for more on Paul Maher’s time at Greenberg Traurig Maher

White & Case City head joins main executive body

isabelsr — Mon, 14 Sep 2009 11:19:57 +0000

White & Case City head joins main executive body

10 September 2009, PM 9:53:00

Jeremy Hodges legalweek

White & Case London head Oliver Brettle has been handed a seat on the firm’s executive committee after US intellectual property partner Dimitrios Drivas stepped down to concentrate on fee earning. Brettle is the first London representative on the firm’s top executive body since the committee was overhauled in 2007.

White & Case London head Oliver Brettle has been handed a seat on the firm’s executive committee after US intellectual property partner Dimitrios Drivas stepped down to concentrate on fee earning.

Brettle is the first London representative on the firm’s top executive body since the committee was overhauled in 2007.

The rest of the committee is made up of chairman Hugh Verrier, New York corporate partner Anthony Khan and Istanbul corporate partner Asli Basgoz. Drivas was based in the firm’s New York office.

The four will work with the eight member partnership committee which deals with partner and compensation matters.

Brettle, an employment specialist, was appointed as London office head last December taking over from Peter Finlay when the firm revamped its global management structure.

The 2008 shake-up saw management shift away from individual offices in preference of key regional groups with the Americas, Asia and Europe, Middle East and Africa (EMEA) each gaining a separate operations council.

Previous years have also seen claims from some quarters that White & Case’s London arm was lacking representation in firm-wide management. This issue was believed to be a factor in the high profile departure of finance partners Maurice Allen and Mike Goetz in 2008.

Commenting on his new role Brettle said: “As well as my general responsibilities as a member of the Firm’s Executive Committee I will be specifically looking at all things to do with people and development including career paths, work life balance and career alternatives to partnership. Clearly, ensuring that the Firm’s people are correctly treated and encouraged is an important issue for any international law firm.”

CC advises Vivendi on $2.9bn Brazil bid

isabelsr — Mon, 14 Sep 2009 11:19:35 +0000

CC advises Vivendi on $2.9bn Brazil bid

11 September 2009, PM 4:04:57

Zach Lowe legalweek

Clifford Chance (CC) is advising French media conglomerate Vivendi on its surprise offer to buy Brazilian telecom company GVT Holding for $2.9bn (£1.76bn), writes The AmLaw Daily. Vivendi, which owns Universal Music Group and the video game company Activision Blizzard, plans to finance the deal with existing credit facilities it set aside for acquisitions, according to Bloomberg and the Wall Street Journal. Marcus Billam is leading the CC team from the firm’s Paris office.

Clifford Chance (CC) is advising French media conglomerate Vivendi on its surprise offer to buy Brazilian telecom company GVT Holding for $2.9bn (£1.76bn), writes The AmLaw Daily.

Vivendi, which owns Universal Music Group and the video game company Activision Blizzard, plans to finance the deal with existing credit facilities it set aside for acquisitions, according to Bloomberg and the Wall Street Journal. Marcus Billam is leading the CC team from the firm’s Paris office.

The offer may create even more activity for M&A lawyers, since Vivendi’s offer brings an unexpected competitor into the Brazilian market, and may spur one of GVT’s two main competitors in the country (Spain’s Telefonica and Mexico’s Telmex) to make a competing bid. GVT’s two largest stockholders have given their preliminary approval to the Vivendi offer.

CC has done previous work for Vivendi, including a joint venture with Spanish construction company FCC in 2000 to develop water and waste companies in Spain and Latin America.

In the past, Vivendi has used Gibson Dunn & Crutcher partner Ruth Fisher on large transactions, including its acquisition of Activision in 2007 and the sale of a majority stake in a Vivendi unit to General Electric in 2003. Fisher says Gibson Dunn is not working on the GVT deal but that Vivendi remains a client. Weil Gotshal & Manges has also done occasional M&A work for Vivendi.

The American Lawyer is a US sister title of Legal Week.

$2.3bn Pfizer settlement strips legal team of compliance brief

isabelsr — Mon, 14 Sep 2009 11:19:09 +0000

$2.3bn Pfizer settlement strips legal team of compliance brief

11 September 2009, PM 4:56:00

Amy Miller legalweek

Pfizer general counsel will no longer oversee its compliance programme under the terms of the $2.3bn (£1.4bn) settlement resolving allegations of illegal marketing of painkiller Bextra and several other drugs, writes Corporate Counsel.

Instead, the chief compliance officer at the world’s largest drug maker will report directly to the chief executive. The move is required by Pfizer’s corporate integrity agreement with the office of the inspector general of the US Department of Health and Human Services (HHS), part of the company’s civil and criminal settlement with the Department of Justice.

The agreement will be watched closely as compliance functions at US and UK companies are commonly overseen by legal teams.

The change is intended to eliminate conflicts of interest, and prevent Pfizer’s in-house lawyers from reviewing or editing reports required by the agreement, said Lewis Morris, chief counsel for the inspector general’s office. Officials at Pfizer did not respond to requests for comment.

“The lawyers tell you whether you can do something, and compliance tells you whether you should,” Morris added. “We think upper management should hear both arguments.”

Pfizer’s historic settlement, the largest in the US for claims of off-label marketing practices, has fueled calls for changing how drug companies do business.

A “corporate integrity agreement” is an administrative alternative to excluding Pfizer from participating in US federal health care programmes, such as Medicare and Medicaid, Morris said. Many large drug companies have also entered into corporate integrity agreements, such as Schering-Plough, Eli Lilly, and Bristol-Myers Squibb.

Excluding a drug giant like Pfizer from such programmes would not just be a death knell for the company, said Morris. It would also have a profound adverse impact on the health and welfare of the people who need Pfizer’s drugs.

This is Pfizer’s fourth settlement with the Justice Department over illegal marketing activities since 2002, and its third corporate integrity agreement. The other agreements were similar in most respects, Morris said. But this is the first one that compels Pfizer’s chief compliance officer to report to the company’s chief executive, instead of the general counsel.

Pfizer will have to hire an independent review organisation, such as an accounting auditing, consulting firm, to perform reviews required by the agreement. The inspector general’s office has the right to reject the organization’s work if it’s found to be inadequate.

Corporate Counsel is a US sister title of Legal Week.

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Student round-up: BPP signs Dechert and CoL targets in-house

isabelsr — Mon, 14 Sep 2009 11:18:31 +0000

Student round-up: BPP signs Dechert and CoL targets in-house

11 September 2009, PM 6:06:00

Alex Aldridge legalweek

Dechert has become the latest law firm to sign an exclusive training deal with an external provider. The agreement, which starts this month, will see the Anglo-American firm’s future

Dechert has become the latest law firm to sign an exclusive training deal with an external provider.

The agreement, which starts this month, will see the Anglo-American firm’s future UK trainees study at BPP Law School in London, Leeds or Manchester.

Click here for more student news.

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