Legal News

LETTER FROM LONDON: U.K. Law Firm Investment Countdown Enters Final Year

Posted on September 29, 2010
With just 12 months to go until the third and final stage of the U.K.'s Legal Services Act comes into force, permitting law firms to accept outside equity investment for the first time, firms are preparing themselves for what many experts believe will fundamentally re-shape the profession.

India Again Closes Door on Foreign Firms

Posted on September 29, 2010
India's Ministry of Law and Justice has issued two statements on behalf of The Bar Council of India stating that the regulatory body "has decided not to permit foreign lawyers into India." The reasoning behind the decision was not immediately clear.

The Tribune Legal Bill...And, Oh Yeah, Its Future

Posted on September 29, 2010
Repping a media company in bankruptcy ain't the same as repping Lehman Brothers, that's for sure. 

David Boies Seeks BP Litigation Role

Posted on September 28, 2010
Fresh off a withering cross-examination of Bingham McCutchen trusts and estates partner Lawrence Silverstein in the McCourt divorce case, David Boies's next trick could be obtaining a lead role representing plaintiffs in the oil spill litigation against BP.

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The Churn: Lateral Moves and Promotions in The Am Law 200

Posted on September 28, 2010
Three new partners join Jones Day offices in Texas and California; Dinsmore & Shohl welcomes a founding partner from Reed Smith's Silicon Valley office and the former deputy general counsel for the EPA; and Manatt recruits an IP team. The Churn is constant...

Paul, Weiss, Bingham Handle Moelis Acquisition of a Gracie Hedge Fund

Posted on September 28, 2010
Moelis & Company, an investment bank founded by former UBS investment banker Kenneth Moelis, will pay $2 billion for the hedge fund Gracie Credit.

Hildebrandt Consultant Explains Ominous Jobs Forecast

Posted on September 28, 2010
An analysis of the legal job market by a consultant at Hildebrandt Baker Robbins shows that nearly 27 percent of the 65,000 non-partner positions at Am Law 200 firms could be cut or recategorized as lower-paying positions over the next five to seven years...

Orrick-Akin the Next Mega-Firm?

Posted on September 28, 2010
It might be. 

Skadden, Kirkland on Endo's $1.2 Billion Qualitest Buy

Posted on September 28, 2010
Branded drugmaker Endo Pharmaceuticals has agreed to pay $1.2 billion in cash to buy privately held Qualitest Pharmaceuticals, the country's sixth-largest generic drugmaker.

LETTER FROM LONDON: Ashurst Structured Finance Head Leaves for Barclays Capital

Posted on September 28, 2010
Ashurst's structured finance and securities head Erica Handling is soon to join Barclays Capital as general counsel for Europe, the Middle East, and Africa. She leaves the firm with a market-leading CDO practice and a controversial U.S. operation.

"Granddaddy" of AIG Subprime Suit Goes On

Posted on September 28, 2010
AIG and (among others) Joseph Cassano are not out of the woods yet.

Gibson Dunn, Debevoise Advise as Vivendi Sells $2 Billion NBCU Stake to GE

Posted on September 27, 2010
With so many interconnected parts and regulatory challenges, Comcast's proposed NBC Universal aquisition is a gift that just keeps on giving to law firms.

The Supreme Court Could Kill the Corporate Alien Tort Sooner Than You Think

Posted on September 27, 2010
The U.S. Supreme Court can steal the Second Circuit's thunder by granting cert on another alien tort case this week. Even plaintiffs' counsel, who opposed the motion, thinks it wouldn't be a bad idea for the Court to take the case.

Four Firms Lead on Unilever's $3.7 Billion Hair Care Buy

Posted on September 27, 2010
Cravath, Slaughter and May, Arnold & Porter, and Sidley Austin are advising on a $3.7 billion acquisition of a leading U.S. hair care company by consumer products giant Unilever.

WaMu Escapes With Its Privileged Docs...Again

Posted on September 27, 2010
Anyone else want to give it a shot? 

Brazil Bar Concludes Foreign Law Firm Associations Break Rules

Posted on September 27, 2010
International firms allied with local Brazilian shops might see those relationships come under renewed scrutiny as the São Paulo Bar Association has concluded that such tie-ups could breach local practice rules. The news comes at a time when 150 leaders from Brazil's public and private sector gathered at the São Paulo office of Skadden Arps to proclaim a new financial future for the country.

Baker Hostetler, Skadden Lead on $1.27B Aircraft Supply Deal

Posted on September 27, 2010
If you don't want an airline, buy the next best thing: The companies that make airplane parts!

When Is a Waiver Not a Waiver?

Posted on September 27, 2010
Ask Winston & Strawn, apparently. 

List Ranks New White & Case Finance Head Among Europe's Most Influential

Posted on September 27, 2010
White & Case's recently appointed London head of bank finance Magdalene Bayim-Adomako has been named as one of Europe's 100 most influential businesswomen by business daily Financial News.

Judge: I'll Okay $75 Million Citigroup Settlement with SEC

Posted on September 27, 2010
Federal district court judge Ellen Segal Huvelle's announcement follows a monthlong delay created by her insistence that the Securities and Exchange Commission provide greater assurances that Citi truly revamp its disclosure policies, and that the settlement fund be used to compensate bank shareholders.

Law Firm Leaders Optimistic About 2011

Posted on September 27, 2010
A recent gathering of law firm managing partners in New York nearly took an unexpected turn when 21 of the attendees conducted a straw poll to gauge business prospects for next year. The results were better than expected.

It's Not All Misery

Posted on September 26, 2010
Let's give credit where it's due: Not all big firms are bad, and even those many might consider the most troubled don't necessarily present problems for everybody in them.

The Careerist: That Male Bond

Posted on September 24, 2010
Strong male bonds don't just develop organically, at least one California firm doesn't think so. They could use a boost from extreme boot camp of the kind where male lawyers get naked (literally).

American Lawyers Flock to the Hong Kong Bar

Posted on September 24, 2010
With a growing number of international firms looking to practice Hong Kong law, more and more U.S. attorneys are taking the local Bar exam.

Petrobras IPO Raises $67 Billion, Setting New Record

Posted on September 24, 2010
In its first day on the market, Petroleo Brasiliero SA, Brazil's state-owned oil company, successfully raised $67 billion in its public offering. Now, experts now are predicting an avalanche of new Brazil IPOs and public offerings.

Deferred Associate Diaries Part V: Returning To The Firm

Posted on September 24, 2010
Our Deferred Associate Diarist, Orrick's Andrew Ardinger, ends his internship and prepares--finally--to start at his firm. 

Latham Lawyers Advise on 'Wall Street' Sequel

Posted on September 24, 2010
Alexander Cohen, the cochair of the firm's capital markets practice, served as a technical advisor to Oliver Stone on his new film Wall Street: Money Never Sleeps, which opens in theaters today. Also advising the Hollywood director was Latham senior advisor Brian Cartwright, a former general counsel of the SEC.

Lawrence Silverstein's Very Bad Week Continues

Posted on September 24, 2010
But the Dodgers still stink.

Your Friday Hostile Deal Update

Posted on September 24, 2010
Rental cars and convenience stores, baby.

The Careerist: Law School Puppy Mills, Part 2

Posted on September 23, 2010
If your J.D. didn't get you a job, why not just shell out more money for another law degree--maybe a master of laws in some specialty like aquatic sports law or oenology antitrust. Will that finally land you that dream legal job?

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