12 October 2012 Issue 14 www.globallegalpost.com Twitter: @globallegalpost

Guru Talk: Page 12 Bounty Hunters Paying large amounts of money to whistleblowers is commonplace in the US, but should other countries follow suit?

The Voice: Page 13 Europe: page 6 Corporate Counsel: page 16 Out of Africa Scotland: costliest Why law firms The Arab Spring: a new era for business legal aid in Europe face the sack Talking Points: Page 14 Asia: Page 9 Management Speak: Page 17 The innovators Seoul: green light Maternity coaching Ahead of the game in the land of ABS for foreign firms makes its mark Bookshelf: Page 23 Corporate law as a progressive force in society Eurozone €10.00. UK: £7.99. USA: US$13.00. UAE: AED49.00. South Africa: ZAR99.00. Canada: C$15.00. Bahrain: BD5.00. Australia: A$15.00 THANK YOU

Shoosmiths has hosted a record-breaking World Services Group 10th Annual Conference.

More than 160 delegates visited London from law firms and other professional services organisations worldwide to discuss key issues, forge new partnerships, meet old friends and make new ones.

World Services Group has 150 member firms in more than 117 countries, maximising business opportunities through cooperation and knowledge exchange.

It’s been an honour to act as host.

See you all at Rio 2013.

w www.shoosmiths.co.uk ANNUAL CONFERENCE 2012 ANNUAL CONFERENCE 2012 10TH ANNUAL CONFERENCE 10TH ANNUAL CONFERENCE w www.worldservicesgroup.com 2 The Global Legal Post 12 October 2012 www.globallegalpost.com

WSG_Global_Legal_Post_AfterEvent.indd 1 04/09/2012 16:44:50 At a glance

Financial regulations and euro trigger ‘uncertainty’ Scots law firms finalise £38m tie-up Legal professionals working in the financial sector cite uncertainty Burness and Paull & Williamsons are set to create the biggest all- caused by regulatory changes and instability of the euro as their Scottish legal merger, forming a firm with an estimated turnover of biggest challenges. around £38 million. Speaking at a forum this week hosted by DMJ Recruitment The firms say the deal – which will create one of the largest and London law firm Macfarlanes, lawyers blamed legislative firms inS cotland with more than 400 staff, including 60 partners amendments for causing widespread confusion, with the Alternative – contrasts positively with other recent merger activity, which has Investment Fund Managers Directive (AIFMD) singled out as a main seen McGrigors lose its independence and other ‘big four’ firms abort source of uncertainty. English tie-ups, reports the Herald Scotland. Beatriz Meldrum, general counsel at London-headquartered fund Burness chairman Philip Rodney, who will lead the merged firm Edoma Partners, told the meeting: ‘We know where the flags are but from 1 December, said the merger would create a firm with established don’t have the answers. Ultimately investors may end up picking up offices of similar size inA berdeen, Edinburgh and Glasgow. the costs.’ The future of the euro was also a cause for concern, with Ms Baker & McKenzie sets sights on Peru Meldrum adding: ‘It is the uncertainty that is killing us.’ US law firm Baker & McKenzie is to expand its presence in Law leaders accused of big firm bias South America by merging with A local legal profession leader has criticised the Law Council of a Lima-based practice. It will Australia (LCA) for allegedly supporting the interests of the country’s become the first global player large firms over reform issues. to launch an office in Peru, says THANK YOU Frank Moore, president of the Law Society of Tasmania, said the Chicago-based firm. the council had prioritised national and international firms over The deal with Estudio local players and ignored the views of representative law bodies in Echecoper will be Baker’s 15th Shoosmiths has hosted a record-breaking World Queensland, Western Australia, South Australia and Tasmania – Lima: rapidly growing importance office inL atin America and its which rejected the extension of the National Legal Profession Reform 72nd worldwide. Services Group 10th Annual Conference. (NLPR) scheme to their states. Expansion in Peru will be seen as recognition of the potential importance of the rapidly growing economies in the ‘Andean Three’ US firm revives non-lawyer investment case – Peru, Chile, and Colombia – which many predict will grow faster New York-based law firm Jacoby & Meyers has resurrected a than Brazil and Mexico over the next five years.R ecently, the three More than 160 delegates visited London from law challenge against a state rule preventing law firms from seeking nations have developed close free-trade ties and have merged their investment from non-lawyers, claiming the prohibition is stock exchanges to encourage investment. firms and other professional services organisations unconstitutional. According to a report from The Wall Street Journal, lawyers at the Courage needed to change law firm structures worldwide to discuss key issues, forge new firm maintain the current rule violates the FirstA mendment, and Leading law firms must take drastic action to remain competitive in breaks equality protection and due process rights under the 14th the rapidly changing English legal profession, a panel of specialists partnerships, meet old friends and make new ones. Amendment. meeting in London has advised. The firm saw its first appeal dismissed by a district court in March, The debate, based on the work of US legal sector guru Mitch with Judge Lewis Kaplan citing a lack of standing to bring the claims Kowalski, suggested that lawyers must have the courage to make against New York’s judicial system. However, commentators point out changes at their firms that will ‘re-imagine’ structure and processes. World Services Group has 150 member firms in more that a challenge to that ruling was inevitable, as the firm has already Mr Kowalski told the meeting – organised by recently launched formed a limited liability company with the expectation of being legal practice Riverview Law – that most established law firms have than 117 countries, maximising business opportunities allowed to accept outside investments. not changed since their creation, comparing them to software that is still running at ‘law 1.0’. through cooperation and knowledge exchange. Reed Smith opens Singapore office ‘Law firm 1.0 is not about long-term vision,’ MrK owalski said. ‘It’s Pittsburgh-based international about keeping the ship afloat.’ law firmR eed Smith has opened He added that law firm leaders must have the courage to make its fourth Asian office, adding sweeping changes to reach ‘law firm 2.0’, possibly ditching the It’s been an honour to act as host. Singapore to its already existing partnership model in favour of a corporate design so ‘the firm is presence in Hong Kong, Beijing greater than the sum of its parts’. and Shanghai. IBA extends economic development collaboration See you all at Rio 2013. The office will be headed by Gautam Bhattacharyya, who The International Bar Association (IBA) and the Organisation for will relocate from London. New Economic Co-operation and Development (OECD) have announced partners Barry Stimpson and Singapore: venue for Reed Smith an extension to their relationship devoted to improving legal Simon Sloane (joining from frameworks, expertise and development. Holman Fenwick Willan) as well as Philip Antcliffe (joining from The two plan to target sectors including employment, energy, Citigroup) and an additional lawyer from the firm’sL ondon office environment and natural resources, financial services, trade and will also relocate. the rule of law. The IBA will assist in training initiatives and drafting The firm is currently in the process of adding several associates in guidelines for the G20 High-level Principles on Financial Consumer the local market. Protection and contribute to the OECD policy-making process.

Editorial: +44(0)20 7332 2590, Editorial email contacts by region: Europe: [email protected]; Asia: [email protected]; North America: [email protected]; Latin America: [email protected]; Africa: [email protected]; Middle East: [email protected]; Oceania: [email protected] Subscriptions: +44(0)20 7332 2586, [email protected], Subscription on line: www.globallegalpost.com/subscribe, Commercial: +44(0)20 7332 2576, [email protected], Global Jobs: +44(0)20 7332 2588, [email protected] General enquiries: +44(0)20 7332 2572, Fax: +44(0)20 7332 2599, General Email: [email protected], Post: The Global Legal Post, FutureLex Ltd, 23/24 Smithfield Street, London EC1A 9LF, UK,Website: www.globallegalpost.com ISSN 2050-165X Subscription for one year: £155 Print; £105 Digital e-zine. Printed in England by Headley Brothers, Ashford, Kent. © FutureLex 2012. Published 25 times per year by FutureLex Ltd, Hereford House, 23-24 Smithfield Street, London EC1A 9LF, UK. While all reasonable care has been taken to ensure the accuracy of the publication, the publishers cannot accept responsibility for any errors or omissions. All rights reserved. No paragraph or other part of this publication may be reproduced or transmitted in any form by any means, including photocopying and recording, without the written permission of FutureLex Ltd or in accordance with the provisions of the Copyright Act 1988 (as amended). Such written permission must also be obtained before any paragraph or other part of this publication is stored in a retrieval system of any kind. w www.shoosmiths.co.uk ANNUAL CONFERENCE 2012 ANNUAL CONFERENCE 2012 10TH ANNUAL CONFERENCE 10TH ANNUAL CONFERENCE Commercial: +44(0)20 7332 2576 Global Jobs: +44(0)20 7332 2588 Subscriptions: +44(0)20 7332 2586 w www.worldservicesgroup.com www.globallegalpost.com The Global Legal Post 12 October 2012 3

WSG_Global_Legal_Post_AfterEvent.indd 1 04/09/2012 16:44:50 From the editor

International respect

The International Bar Association needed to have a good the organisation as an almost personal fiefdom. But, on annual conference last week, and it did. The pressure was on the other, it retains an influential global reputation that because slightly more than a year earlier, its 2011 event in affords it a degree of influence in the corridors of some Dubai was beset with controversy that all but overshadowed international governments. the meat of the organisation’s premier gathering. For example, earlier this week, the association announced Following much ballyhoo over the Dubai venue – during a deal that sees it form an enhanced working relationship which senior IBA figures hailed the Gulf region as joining with the Organisation for Economic Co-operation and the global legal profession fold – the emirate’s hard-line Development (OECD). That Paris-based body is a high- authorities threatened to cancel the whole show only weeks powered talking shop, representing, effectively, the richest before the curtain was scheduled to rise. The reason? Several Jonathan Ames, countries in the world. conference sessions – for example, those on gender and editor-in-chief According to an IBA statement, the two bodies will sexual orientation issues, assessment of capital punishment now collaborate ‘on improving legal frameworks, in various jurisdictions and human rights matters generally – expertise, and development across a number of sectors’, including offended the sensitivities of Dubai’s ruling sheiks, for whom concepts employment, energy, environment and natural resources, of free speech are, shall we say, still evolving. financial services, migration, trade and investment, and the rule of After some eleventh-hour negotiations, a compromise was law and democratic values. struck and the conference went ahead, although not without some grumbling and much unwanted publicity. Favourable fees Dublin itself will have been sweeping up the plastic cups, getting the Recuperation spilt red wine out of the carpet and generally tidying up after the Arguably, there’s no better place to go for a spot of wound-licking party left town.I ts top-flight business law firms will have relished and recuperation than Dublin. The Irish love a party and even in the opportunity to reinforce their position of being perched between straightened economic times, they are prepared to put on good show. the US, the UK and Europe, highlighting their common law training, And as our commentator writes this week (see page 12), a range while likewise pointing out to international clients that their fee rates of highly relevant issues to the modern global legal profession were measure up extremely favourably when compared to London’s magic intellectually debated without any threat of interference. Indeed, if circle, or even top 20 firms. anything, the Irish government would probably have been happy Next year, the IBA’s annual bash will be in Boston, which, for many for the IBA to do, and talk about, anything – provided the 5,000 Americans, might as well be in Ireland. For as long as almost anyone delegates and their guests spent as liberally as possible in the local who has anything to do with the organisation can remember, the hotels and hostelries. IBA has touted each successive annual conference as being better The IBA is an odd beast – part professional networking body, attended than its predecessor. With organisers claiming that more part social club, part human rights campaigning organisation. On than 5,000 lawyers crammed onto the banks of the Liffey last week, the one hand, it has its fair share of old-stager members who treat the city on the Charles River has a high hurdle to jump. Et cetera The best of opinion and comments from around the world’s legal media

Ottawa-based lawyer Jordan (and remember, it always does), than expected. But from a ‘So, if the SRA come Furlong, partner with it will look different and behave client’s perspective, it doesn’t a-knocking, you have four global consulting firm Edge differently than it did before. work so well. It gives lawyers weeks to comply with an International, discusses law firm Your firm must be ready for that. an incentive to overstaff and investigation – and it’s all profits on the Law21 blog If you have an expenses problem to over-research cases. And for about evidence of processes ‘Many law firms believe today, prepare to change the way me, hourly billing was a raw being demonstrably in place their “expenses problem” you do business tomorrow.’ deal. I ran the risk of being and followed by all. Could is all about cutting costs to underpaid because I answered you be ready? There are also preserve profit in the face of Robert Pozen, a senior lecturer at questions too quickly and far more rigorous reporting declining revenue. It’s not. Harvard Business School, considers billed a smaller number requirements that must be It’s a concrete sign of the work-place efficiency and billable of hours.’ implemented by January 2013.’ growing misalignment between hours in The New York Times law firms’ lawyer-intensive ‘It’s an unfortunate reality Richard Hinton, business The applications manager at global workflow models and the that efficiency often goes development director at US-based law firm DLA Piper, Jason Plant, market’s emerging requirement unrewarded in the workplace. consultancy Decision Insight blogs about mid-tier regional for a better use of resources in I had that feeling a lot when I Information Group, looks at the law firms opening small offices the delivery of legal services. was a partner in a Washington introduction of the new handbook in London ‘The “expenses problem” can’t law firm. Because of my of England’s Solicitors Regulation ‘The legal IT revolution and be solved by making deeper expertise, I could often answer Authority in a blog on the Legal innovation in business process workforce cuts or by playing a client’s questions quickly, Futures website within law firms, in my view, around with outsourcing and saving both of us time. But ‘The new regime may feel will remain a talking point automation. It can only be because my firm billed by the intimidating, but the new in conferences while there solved by recognising that firms hour, as most law firms do, my standards and requirements is no movement in simple must be configured differently efficiency worked against me. ensure that, for the great many, innovative cost savings. in order to deliver legal services ‘From the law firm’s it serves to reinforce the quality However, maybe these regional profitably. perspective, billing by the hour they already demonstrate with upstart neighbours shaking up ‘Business is down for law has a certain appeal: it shifts their clients, with the operation the London mid-tier will finally firms, and it will stay down for a risk from the firm to the client of their practice and the calibre be the start of the revolution while. But when it comes back in case the work takes longer of their staff. we’ve talked about since 2008?

4 The Global Legal Post 12 October 2012 www.globallegalpost.com Global view: The Americas

US – politics ’Big law’ backs Obama with $2m fighting fund awyers at the top 20 US law firms have firms White &C ase and Weil Gotshal & Manges. given US President Barack Obama almost Kirkland also took the accolade of giving the twice as much in campaign donations as largest amount of direct donations in total, with its they have to his Republican election rival, lawyers slipping $118,000 to the president as well. A LMitt Romney. spokesperson for Kirkland declined to comment on Law.com reports that Mr Obama has received $1.9 the firm’s hefty donations. million from law firms, with his biggest backers at Under federal election laws, individuals may DLA Piper stumping up a whopping $345,000 in donate $2,500 per candidate per election. es

direct donations. g Meanwhile, a Montana judge who sent a racially a

Lawyers at Kirkland & Ellis – based in Mr Obama’s Im charged email about President Obama is set to take

hometown of Chicago – are Mr Romney’s main tty so-called senior status next year. supporters, chipping in $338,000 to his overall Barack Obama: funding boost Judge Richard Cebull, a judge in the District Court © Ge © lawyer donation tally of just over $1m. of Montana, is currently the subject of a misconduct In fact, Kirkland was just one of five of the top 20 firms where review after he forwarded to friends an email sent to him by his employees gave more in direct contributions to Mr Romney than to brother. He will take senior status in March 2013. the president. The others were Los Angeles-founded Gibson Dunn & The blog of Legal Times reports that the move will allow Judge Crutcher, Philadelphia-based Morgan Lewis & Bockius and New York Cebull to vacate his seat while still hearing some cases.

California – litigation against SNR seeks indemnity against Citigroup’s claims and a declaration that the law firm is responsible to Citigroup. SNR Denton accused of compliance filing error An SNR Denton spokesman said: ‘We stand behind the advice and A former client has accused Anglo-US law firm SNR counsel provided in this matter and look forward to a successful Denton of a serious filing slip up, potentially making resolution of the case.’ Impac’s representative, Mark Eisenhut the firm liable for a $7 million mortgage-backed – a partner at Californian law firm Call & Jensen – declined to securities deal that turned sour. comment. The National Law Journal reports that California’s Impac Secured Assets issued proceedings last week alleging that SNR Denton US – intellectual property acted too slowly in correcting a 2007 Securities and Exchange Commission filing – a delay which, Impac claims, led to a Citigroup Authorities open anti-piracy war chest lawsuit against the company. More than $2.4 million will be allocated to 13 US The suit centres on lawyer Richard Simonds, who was instructed jurisdictions to fight theft of intellectual property, after by Impac in 2007, when he was at now-dissolved Thacher Proffitt Attorney General Eric Holder stressed that protection & Wood, to file SEC documents regarding the sale of mortgage- from piracy is vital to the nation’s economy. backed securities. The claim alleges that Mr Simonds – not named According to a report from Law.com’s Corporate Counsel magazine, as a defendant in Impac’s action – failed to include a provision on the Department of Justice said the funds will be used to enforce, debt securities. investigate, prosecute and prevent intellectual property crimes. The alleged mistake was not noticed until January 2010, when Mr Holder said: ‘These new investments are coming at a critical Impac discovered an unrelated SEC filing error and asked Mr time. As our country continues to recover from once-in-a-generation Simonds – now at SNR Denton – to check the 2007 filing. economic challenges, the need to defend IP rights – and to protect The suit then alleges that Mr Simonds and SNR Denton discovered Americans from IP theft – has never been more urgent.’ the 2007 mistake and, in March 2010, alerted Impac. Over the past three years the US Justice Department has granted In April 2010, Mr Simonds and SNR Denton advised Impac to more than $10m to 34 law enforcement agencies in the war against amend the filing, which they did. IP theft. The new cash injection is aimed primarily at creating new However, Citigroup bought around $7m in Impac’s mortgage- police department positions with specificI P investigation focus. backed securities in March 2010 and – because of the SEC filing Enforcement and prosecutor training schemes will also be developed. mistake – allegedly lost millions of dollars. Citigroup sued Impac ‘IP theft is not a victimless crime,’ MrH older added. ‘It can in May 2011, winning summary judgment in May 2012 on most of devastate lives and business as well as undermine our nation’s its claims. financial stability, jeopardise the health of our citizens and even According to The National Law Journal report, Impac’s lawsuit threaten our national security.’ > LAW IS CHANGING LOD allows you to flex the size of your legal team just when you need to

www.globallegalpost.com The Global Legal Post 12 October 2012 5 Global view: The Americas

New York – banking According to a report in The Wall Street Journal, former Crowell & Moring lawyer Douglas Arntsen,34, began working for the firm in Mortgage securities claim hits JP Morgan February 2007 and started embezzling money from the investment Authorities in New York are suing one of the US’s fund Doina Capital in 2009. biggest banks for allegedly defrauding investors who To cover the shortfalls, he began stealing from Regal Real Estate lost more than $20 billion during the country’s the following year. He then used the funds to pay for ‘expensive housing boom restaurants, sporting events and strip clubs,’ according to prosecutors. Manhattan banking corporation JP Morgan Chase is being sued by A Regal Real Estate employee confronted Arntsen in September the New York Attorney General over charges relating to mortgage- 2011 about the missing funds, which he confessed to stealing. He backed securities sold by New York investment bank Bear Stearns, then resigned from the firm and fled toH ong Kong where he was which was acquired by JP Morgan in a fire sale in March 2008. JP arrested and extradited to the US. Morgan has confirmed it will contest the allegations. Arntsen was ordered to pay $9.8 million in restitution to Crowell & According to The Guardian newspaper in London, the civil suit – filed Moring and $967,501 to Doina Capital. Three other lawsuits brought by New York Attorney General Eric Schneiderman – contends that by real estate companies, claiming the lawyer stole funds from their Bear Stearns and its lending unit EMC Mortgage defrauded investors accounts, were settled but not publicly disclosed. who purchased mortgage securities packaged by the companies from Arntsen pleaded guilty to three counts of grand larceny and one 2005 to 2007. count of fraud; he is scheduled to be sentenced on 17 October. The firms allegedly distorted the quality of the loans in the securities, ‘We regret the harm caused by Douglas Arntsen to our clients and ignored evidence of broad defects. and our firm and are pleased Mr Arntsen has acknowledged his Unlike other mortgage crisis cases, the JP Morgan suit does not crimes with a guilty plea,’ said Ellen Dwyer, Cromwell & Moring’s focus on a particular deal, but institution-wide improper practices managing partner. affecting numerous deals. A spokesman for Mr Schneiderman declined to comment on US – technology the case, but JP Morgan spokesman Joseph Evangelisti said: ‘We’re disappointed that the New York AG decided to pursue its civil action Apple faces raft of IP infringement claims without ever offering us an opportunity to rebut the claims and Electronics giant Apple has been targeted in two without developing a full record – instead relying on recycled claims separate lawsuits by its long-time rival Samsung for already made by private plaintiffs.’ allegedly infringing patents with its recently released Gerald Silk, a lawyer at New York’s Bernstein Litowitz Berger & iPhone 5 device. Grossmann, commented: ‘The government’s action represents a South Korea’s Samsung – slapped a few weeks ago with a huge $1.5 complete validation of the cases brought by investors who were billion jury verdict in California after losing a patent battle toA pple duped by the fraudulent sale of mortgage-backed securities by JP – claims the iPhone 5 infringes two standard patents and six feature Morgan, WaMu and Bear Stearns.’ patents, covering actions such as synchronising photos, music, and video files across several devices, and a method to capture and send US – legal profession video over the internet, reports Law.com’s Corporate Council magazine. According to the report, Samsung has added its latest claims to a Firms face autumn lawsuit spree separate patent infringement lawsuit filed inA pril, which accuses Autumn has begun with a bang for several major US Apple of several other patent violations. That case is expected to go to law firms, as they face high-profile litigation in trial in March 2014. courtrooms across the country. ‘As soon as the iPhone 5 was available for purchase, Samsung Among those on the defensive are Atlanta-based began its investigation of the product,’ the company said. ‘We have King & Spalding, which is being sued in California by an expert always preferred to compete in the marketplace with our innovative witness who claims the firm blamed a bankrupt former client for its products, rather than in a courtroom. failure to pay invoices in connection with a huge International Trade ‘However, Apple continues to take aggressive legal action that Commission case, reports The Am Law Daily. will restrict market competition. Under these circumstances, we Also in court is Newark’s McCarter & English – which is being have little recourse but to take the steps necessary to protect our sued in a royalties row by the actor who played a childhood bully innovations and intellectual property rights.’ in A Christmas Story – and SNR Denton, which is in the dock over an The additional action was announced just as a federal judge allegedly botched Securities and Exchange Commission filing. dissolved a three-month-old ban on sales of Samsung’s Galaxy Tab Meanwhile, numerous firms are involved in offensive action, 10.1 device in the US – another side-show in the battle with Apple. including San Francisco-founded Gordon & Rees, which has sued aquatic conservatory Ocean Embassy in Florida over $577,161 the US – sport firm says it is owed by its former client. Elsewhere, New York’s Pillsbury Winthrop Shaw Pittman and San Lawyers score as NFL referees reach agreement Francisco’s Orrick Herrington & Sutcliffe have filed a suit against the Union officials representingA merican football players City of San Francisco regarding what the plaintiffs allege are unfair are considering legal action over health and safety on payroll taxes on partner profits. the pitch following a deal ending strike action that Others firms gearing up for litigation include LAD Piper’s action saw inexperienced officials controversially take against former client David Thurman over $189,372 in allegedly control of NFL matches unpaid bills and Quinn Emanuel Urquhart & Sullivan’s suit against Recent US media reports suggest that the National Football League Yoshio Nakano and his company, the International Poker Players players’ union is considering legal action over the health and safety Association, over allegedly unpaid bills connected to trademark- issues that replacement referees are said to be creating on the field. related work. The less experienced officials had already caused outrage following a number of botched decisions, reports The Am Law Daily. New York – corruption The new eight-year deal over employment conditions will put regular officials back into the game. White-collar crime expert admits $10m fraud New York-based Proskauer Rose partner Robert Batterman A high-flying Manhattan-based white-collar crime represented the league in its talks with the Referees Association, defence lawyer pleaded guilty earlier this week to along with NFL general counsel Jeffrey Pash and in-house pilfering more than $10 million from his firm’s clients counsel David Gardi. The referees turned to named partner and squandering the cash in strip clubs and up- Michael Arnold of Kansas City-based firm Arnold Newbold market restaurants. Winter & Jackson.

6 The Global Legal Post 12 October 2012 www.globallegalpost.com Global view: Europe

UK – legal profession Top firms feel the pinch he UK’s top 100 law firms have everyone faces the same challenges to win work. experienced their slowest quarterly The fact that larger firms are growing the least income growth for nearly two years, isn’t too surprising – the bigger the firm, the more according to a recent survey by mouths to feed.’ professionalT services consultancy Deloitte. Meanwhile, UK law firm expenses have risen at The quarterly survey reports that the top 100 a faster pace than revenues over the past five years firms by revenue showed an average rise in fee according to further research, which supports income of 3.8 per cent in the three months ending similarly disappointing recent figures from theUS . 31 July, compared to the same period last year, The research – conducted by The Lawyer reports Legal Week newspaper. This represents the slowest year-on- newspaper – analysed the top 50 UK firms outside the magic circle year quarterly growth since January 2011. and discounted recent entrants. It found that, during the past five The top 10 firms suffered heavily, with just a 1.7 per cent rise, while years, the average cost per lawyer (CPL) increased by 20 per cent the figure stood at 2 per cent for firms ranked 11 to 25. From 25 to 50, from £199,000 to £236,000. However, there has been only a 12.8 per the figure rose considerably to 4.5 per cent. cent rise in revenue per lawyer (RPL), from an average £289,000 Deloitte professional services partner Jeremy Black commented: to £326,000. ‘There isn’t much M&A activity, which is probably why smaller firms But, somewhat encouragingly, the survey also revealed the growth have been performing better – the [lower-ranked firms] cover areas in CPL is slowing, rising just 6.8 per cent over the past two years. of work that are more mixed, while the larger firms that focus more Meanwhile, RPL held steady at 12.8 per cent. on transactional work have taken a hit.’ Last month’s survey of US firms by Wells Fargo’sL egal Specialty Simmons & Simmons senior partner Colin Passmore said: ‘The Group revealed that, despite average revenues rising by 3 per cent in market remains tough and it’s a comfort to be reminded that the first half of 2012, overall profits fell by 0.7 per cent.

England – recruitment an arrangement with the law firmC ogent Law – is considering expanding into property and employment advice. A spokesman for Legal sector hiring boosts London job figures the organisation told the newspaper: ‘While we have no immediate The legal services sector provided the biggest increase plans to provide additional services, the licence would open up some in professional and financial employment inL ondon exciting opportunities.’ in the first six months of 2012, accounting for 3.3 per The AA announcement was followed by reports that a major US cent of the 666,400 positions on offer, a survey legal brand is to push into the UK market. released last week reveals. The Law Gazette newspaper reported that Rocket Lawyer – which Management consulting and accountancy saw a combined growth provides clients with online legal services as well as referrals to panel of 0.4 per cent, while, within financial services, the insurance sector firms in theUS – will launch in the UK next month. experienced the biggest decline at 2.3 per cent, followed by banking The company’s corporate vice president, Mark Edwards, told The at 1.6 per cent and fund management at 0.8 per cent. Law Gazette that Rocket Lawyer was aiming at ‘unlocking the bottom The report – TheCityUK’s London Employment Survey – found end of the market that’s not currently being served’. The newspaper there was a net increase of 2,700 jobs in the first half of the reports that, in the US, the five-year-old,S an Francisco-based Rocket year, propelled by a 1.5 per cent growth in professional services. Lawyer has some 3 million monthly visitors to its website. The increase offset a 0.5 per cent decrease in financial services • Meanwhile, a senior US lawyer has slated England’s ABS revolution, employment over the same period. describing it as embedding an ‘inherent conflict of interest’ between Overall, the survey showed that 2012 growth was slower than law firms and clients. expected, but overall London headcount had remained stable. The Law Gazette reports on remarks made by William Robinson, a ‘The financial and professional services sector is critical to the former president of the American Bar Association, who was speaking at UK economy and London is the number one financial centre in the this week’s International Bar Association annual conference in Dublin. world,’ said Chris Cummings, chief executive of TheCityUK. According to the report, Mr Robinson told IBA delegates: ‘There is ‘However, we can’t afford to be complacent. The job market is a strong sense that in the ABS approach there is an inherent conflict still sluggish and London is facing competition from other financial of interest. Investors invest to make money and, as we say, he or she centres, including those in Asia and the US. We need to do all we can who has the gold makes the golden rule. They don’t bring a higher to ensure London remains attractive to talented employees as a place quality of practice or integrity.’ to work, and that firms are able to compete against their peers in the US and Far East.’ EU – legislation England – legal profession Call for sharper medical device regulation Greater supervision over medical devices produced AA to crack legal market as shake-up gathers pace and used throughout the EU is urgently needed, Britain’s biggest motoring organisation will be the according to the European Commission, which latest group to break into the legal services market, as released a package of proposals last week. reports last week said the AA has applied for an According to Brussels, the current regulatory regime – which has alternative business structure licence. been in place for more than 20 years – is not keeping pace with The announcement comes only a day after lifestyle businessS aga recent medical developments. revealed its licence application, and coincides with a move by one Michael Gavey, an intellectual property and regulator partner at of America’s biggest cut-price legal services businesses into the UK international law firmS immons & Simmons, said: ‘There has been market. heightened public awareness recently of safety issues due to the The flurry of activity aroundE ngland’s evolving post-Legal Services silicone breast implant scandal and problems with metal on metal Act world will further strengthen existing views that the consumer hip replacements, which has undoubtedly damaged confidence in end of the country’s legal market is on the verge of a revolution that the industry.’ could seriously impact on high street law firms. Several changes are proposed: the extension of regulations According to London-based newspaper Legal Week, the AA – over implants for aesthetic purposes, more stringent supervision which already offers members some legal document services via of independent assessment bodies by national regulators, and > www.globallegalpost.com The Global Legal Post 12 October 2012 7 Global view: Europe

better traceability of devices through the supply chain in the case the financial year running from 1 May 2011 to 30A pril 2012 and of a recall. leaving their firms altogether. However, the regime must continue to encourage innovation Wim Dejonghe, the managing partner of magic circle firm Allen in the medical device industry, added Mr Gavey, especially given & Overy, told the newspaper: ‘Greater financial and operational that fresh regulations and extra costs will be shouldered by discipline is definitely necessary to remain competitive in a low- manufacturers and distributors. growth environment. For us, it’s been a question of balancing the ‘Industry associations have already raised concerns over need for growth in the global network with continued focus on the proposed scrutiny procedures and the costs of traceability good housekeeping.’ requirements,’ he said. Meanwhile, a report by accountancy and advisory firm Wilkins Kennedy says the number of law firm partners has shrunk for the UK – corruption first time since 2008. Business leaders happy to flout anti-bribery laws Scotland – state funding Significant numbers of British executives are prepared to flout recently introduced anti-corruption laws on Lawyers top Europe’s legal aid pay charts the grounds that the tough economic climate merits Critics have lambasted Scottish legal aid as being ‘out risk taking and that the authorities are unlikely to of control’ after lawyers in the jurisdiction collected prosecute offenders, research released this week has found. £161 million public fees in 2010. Two-fifths ofUK businesses surveyed by a US-based consultancy According to The Daily Record newspaper, the haul said current economic conditions encouraged potential breaches of by Scotland’s legal aid practitioners was more than £60m more than the Bribery Act 2010. And more than a quarter are confident that that of their counterparts in Italy – a country 12 times the size – a even if the authorities were aware of breaches, ministers would not European Commission report has revealed. encourage them to pursue prosecution. According to the research from the European Commission for the The survey – conducted by Florida-based researchers FTI Efficiency of Justice, legal aid inS cotland cost around £31 for each Consulting – also identified a high degree of boardroom ambivalence citizen in 2010, while in Italy the figure stood at just £1.50 per person. towards the legislation. It said that 25 per cent of board-level In countries with a population closer to that of Scotland, the employees claimed they might breach the act to win business. differences were even more stark, with Denmark – which has a But, despite what appears to be significant levels of disregard for population of 5.6m compared to Scotland’s 5.2m – paying its lawyers the legislation, a considerable majority of respondents – 63 per cent – just £70m overall. said the act would eventually have a positive effect on the prospects The study also found that only an extremely small proportion for British business. of lawyers in Scotland received any disciplinary measures. Just Commenting on the survey, FTI researcher John Higgins three were struck off and 13 reprimanded in Scotland in 2010, said: ‘While most leaders want ethical business practice, many while Denmark took action against 309 lawyers, with six struck off organisations still face the challenge of managing a hard core of risk and 145 fined. The commission report – which looked at 47 criminal takers – and we see evidence of the disproportionate damage they justice systems across the continent – found that the cost per person cause in the news every week.’ of legal aid in Scotland was third-highest, behind only Northern Ireland and England and Wales. UK – legal profession The Scottish Legal Aid Board countered demands for reform following the report’s publication: ‘Across Europe, there are Firms fret over increasing fee pressure substantial differences between judicial systems and very different Mounting pressure from clients to slash fees is the approaches to the provision of legal aid and its cost. The Scottish greatest risk to law firm probability, more than half of system is highly regarded internationally for the efforts made to UK practices have told researches in a survey ensure access to justice.’ published this week. Legal profession researchers Sweet & Maxwell found that 58 per Poland – regional law firms cent of finance directors at top 100 firms say that pressure from clients to discount fees will pose a high risk to profitability, up from Wolf Theiss expands eastern Europe empire 54 per cent in 2011. Vienna-based law firm Wolf Theiss has acquired the Other factors highlighted include the continued slowdown in Polish subsidiary of German firm Beiten Burkhardt in corporate work – ranked a high risk by 54 per cent of firms (46 per a move that expands the Austrian firm’s regional cent in 2011), and, more surprisingly, increased competition created network, it was announced last week. by the Legal Services Act, which is rated as a high risk by 19 per cent Wolf Theiss – which already has a strong presence in Central and of respondents. Eastern Europe – will begin operations at the new base, known as More than 40 per cent of the firms surveyed added that they view Wolf Theiss Warsaw, from the beginning of next year. cost overruns on fixed fee work as a high risk to profitability. The two firms are set to continue their co-operative efforts on a project-by-project basis, but will also maintain ties with other UK – legal profession collaborative law firms throughout the region. ‘We are very excited about this opportunity as Warsaw will ’Housekeeping’ drive sweeps out 439 partners complete our footprint in Central and Southeastern Europe and More than 400 partners shuffled out through the exit makes us the largest integrated law firm in the region,’ commented doors of the UK’s top-20 law firms in the last 12 Wolf Theiss Managing Partner Erik Steger. months, as firms continued to impose ‘good ‘We see Warsaw as a strategic location, given the growth prospects housekeeping’ measures in the face of a continuing of the Polish economy, and believe it will provide significant tough economic climate. opportunities and services for a wide variety of CEE/SEE companies Ashurst and SJ Berwin were among the firms towards the top end and international investors.’ of partner exit rates, with the former losing 24 from its ranks of 217 Beiten Burkhardt managing partner Frank Obermann added: partners – an 11 per cent drop. ‘We will concentrate in the future on our presence in the CIS in The top 20 firms saw 439 partners leave in total. While some Moscow, St Petersburg and Kiev. With regards to Poland we will former partners may have stayed on with their firms in consultancy continue to support the interests of our clients working in co- roles, the research – conducted by Legal Week newspaper – showed operation with Wolf Theiss.’ that 342 (78 per cent) were listed on the Companies House register The deal sees Wolf Theiss expand its network to 14 offices across as resigning from their firm’sUK limited liability partnerships during the region, with 340 lawyers employed.

8 The Global Legal Post 12 October 2012 www.globallegalpost.com Global view: Asia/Oceania

South Korea – practice rights Seoul flashes green light to US firms S law firms PaulH astings and Cohen deploy Jong Han Kim to head the firm’s office, & Gresser were approved last week to while Cohen & Gresser will field partnerSC Son as open offices inS outh Korea following its local head. authorisation from the country’s Ministry In addition, the publication says 17 other law ofU Justice. firms have applied to openS outh Korean offices – Los Angeles-based Paul Hastings and New York or are rumoured to have done so: CliffordC hance, player Cohen & Gresser are the fourth and fifth Cohen & Grasser, Paul Hastings, Ropes & Gray, firms to gain official approval, followingL ondon Sheppard Mullin Richter & Hampton, Cleary magic circle firmC liffordC hance, Boston’s Ropes Gottlieb Steen & Hamilton, Covington & Burling, & Gray and Los Angeles-headquartered Sheppard Mullin Richter & DLA Piper, H. Park & Associates, K&L Gates, McDermott Will & Emery, Hampton. McKenna Long & Aldridge, O’Melveny & Myers, Simpson Thacher & According to a report in Asian Legal Business, Paul Hastings will Bartlett, Squire Sanders, Herbert Smith and Linklaters.

China – criminal justice News. WA Law Society president Christopher Kendall said: ‘This is an Sentence highlights ‘harsh’ legal environment enormous loss to the court and to the legal profession as a whole.’ A lawyer imprisoned for 18 months after being Australia – government detained in a ‘clean up’ in the Chinese city of Chongqing has lashed out at ‘prejudice and inequality’ Gleeson takes on Oz solicitor-general role he claims is rife in the country. Justin Gleeson is Australia’s new acting solicitor- Beijing-based Li Zhuang led a ‘smash black’ campaign during general, taking the post until a permanent which thousands of people were said to have been thrown in prison appointment is made next year. without fair trials. Australian news network NineMSN reports that But subsequently, police chief Wang Lijun has been sentenced for Attorney General Nicola Roxon appointed New South Wales-based defection, taking bribes, bending the law for ‘selfish needs’ and abuse Mr Gleeson because of his expertise in public and constitutional law. of power after standing trial last week inC hengdu. Mr Gleeson – who was admitted as a barrister in 1989 and made Mr Wang is also linked to Gu Kailai, whose murder of British senior counsel in 2000 – will begin his new role on 15 October. businessman Neil Heywood Mr Wang helped to cover up reports Meanwhile, current solicitor-general Stephen Gageler will succeed The Australian newspaper. Justice William Gummow in the High Court later this month. Mr Li maintains that Mr Wang’s abuse of legal process is typical of the Chinese approach as a whole to the law, which shows little India – regulation respect for due process. ‘Thousands of innocent people and cases need to be rehabilitated,’ Allen & Overy cuts local alliance said Mr Li, who still has not recovered a practising licence after his London-based magic circle firmA llen & Overy and arrest in 2009 for his alleged involvement with organised crime in Indian law firm Trilegal have parted ways, declaring Chongqing. the ‘lack of progress’ in the liberalisation of the Indian Another lawyer, Ma Ziaopeng, told the newspaper: ‘Though the legal market as causing the split. legal environment is harsh in China, I still believe that the majority of When the relationship between the firms began in 2008, hopes lawyers in China have a desire to work for justice, and the majority of were high that reforms allowing foreign practices to enter India’s lawyers believe Li Zhuang was innocent.’ market were in the works. However, the country remains closed to overseas lawyers, who are not even allowed to have offices in the Australia – legal profession country, reports Law.com. The move follows a similar break between magic circle firm Queensland ditches national regulation scheme CliffordC hance and Mumbai-based AZB & Partners, which started a Queensland has walked away from plans for a relationship in 2009, but split at the beginning of last year. national regulation scheme for Australia’s legal In a statement, Allen & Overy and Trilegal said: ‘The lack of profession amid concerns over increased costs and progress towards legal sector liberalisation in India has led both firms bureaucracy. to conclude their existing arrangement is restricting their ability fully The government of the ‘sunshine state’ said that the National Legal to exploit the growing opportunities in India.’ Profession Reforms were ‘unnecessary’, while Queensland Attorney Jonathan Brayne, the London-based head of Allen & Overy’s India General Jarrod Bleijie added that ‘the cost of setting up this board is practice, pointed out that the break up was amicable. ‘We have the also vague and would be passed on to the participating states.’ highest opinion of Trilegal and we look forward to continuing to Australian news network NineMSN reported Mr Bleijie, who is work with them when the opportunity presents itself,’ he said. also the Justice Minister, as saying: ‘Approximately 85 per cent of Queensland solicitors are sole practitioners and they have nothing to Nepal – lawyers gain from these reforms other than increased costs.’ Meanwhile, Western Australia’s longest serving sitting family court Magic circle lawyer killed in air crash judge, Justice Carolyn Martin, has died aged 59 following a battle A recently qualified lawyer atL ondon-based magic circle with cancer. law firmA llen & Overy was among those killed in last The West Australian newspaper reports that Justice Martin was the week’s aeroplane crash in Nepal. state’s first female stipendiary magistrate when appointed in 1985 Ben Ogden, 27, was one of 19 dead as the flight plunged and the first woman to be appointed a judge of the state’s family into a river shortly after taking off from the country’s court bench in 1996. capital, Kathmandu. He had been on a post-qualification trekking WA Family Court Chief Judge Stephen Thackray said Justice holiday in the Everest region, having been scheduled to begin work at Martin was an astute judge with ‘a quick mind and ready wit’, who A&O’s London employment department. would be greatly missed. The Lawyer newspaper published a statement from the firm, The Law Society of Western Australia said Justice Martin was greatly describing Mr Odgen as ‘an excellent lawyer’, who was ‘a very popular respected for her legal skills and tireless work ethic, reports Big Pond member of the firm’. www.globallegalpost.com The Global Legal Post 12 October 2012 9 Global view: Africa/Middle East

UAE – human rights Concern over fairness as doctor battles manslaughter charges 77-year-old South African doctor is to the company that employed him during his stint appear in an Abu Dhabi court next week at Abu Dhabi’s Sheikh Khalifa Medical City – was to discover his fate in a manslaughter trial aware that an Emirati court had sentenced him to that western observers say illustrates on- three and a half years in prison. goingA concerns over Gulf region justice systems. ‘My reports from people who were in the court Cyril Karabus – a cancer and blood disorder were that the man appears to be broken. He was specialist who has worked at several globally hunched. He was shackled. He appears to have his renowned hospitals – was arrested in August as spirit broken... Yet the man has not done anything he spent 10 hours in transit in Dubai between wrong.’ Canada and South Africa, having attended his son’s Abu Dhabi: questions over justice According to a report in the Abu Dhabi-based wedding. Authorities in the United Arab Emirates The National newspaper, Dr Krabus’s local lawyer, allege that his failure 10 years ago to give a blood transfusion to a Khalfan Al Kaabi, maintained that documents relied on by the three-year-old patient ultimately resulted in the girl’s death. prosecution had been tampered with or were incomplete. He was initially convicted in absentia of murder, but his lawyers There has been mounting concern among the international legal have recently had that finding overruled.H owever, he now faces profession and human rights campaigners over the transparency and manslaughter charges and has been refused bail. fairness of the UAE’s justice system and those throughout the Gulf Dr Karabus denies the allegations and maintains that the first he region. At the beginning of last month, a US businessman fighting heard of the charges and the decade-old initial conviction was when corruption charges in Dubai was reported to have been moved to a police hauled him from an airline queue at Dubai airport several secret location outside the emirate’s formal prison system. weeks ago as he attempted to board a flight toS outh Africa. According the Associated Press, his local lawyer, James Jatras, According to a report yesterday in South African newspaper The maintained the UAE authorities refused to provide details of his Globe and Mail, neither Dr Karabus nor Toronto-based InterHealth – client’s health or where he was being held.

UAE – global law firms UAE – banking Hogan Lovells to close Abu Dhabi branch Abu Dhabi bank sues Dubai prince’s business Anglo-US law firmH ogan Lovells is closing its doors in The Abu Dhabi Commercial Bank has filed a legal Abu Dhabi and transferring work to its Dubai office by claim against Dubai’s Zabeel Investments, which is the end of this year. owned by the crown prince of Dubai, Hamdan bin The practice is currently in talks with the Abu Dhabi Mohammed al-Maktoum. office’s five partners, three associates and counsel to determine where The recently filed case is claiming £66 million from Zabeel – which they will be based after the closure, but it is likely that some will once had stakes in Sony – for allegedly failing to meet repayment transfer to Dubai, reports London-based newspaper Legal Week. obligations, reports the Reuters news agency. In addition to its Dubai practice, Hogan Lovells also has two offices According to the report, Zabeel owes some $1.6bn to local banks. in Saudi Arabia with a focus on corporate and commercial practice. Talks on restructuring the debt came to a standstill in January. One A spokesman for the firm said it had ‘opted for Dubai as it has a source close to the matter said: ‘It’s about time. People can’t let things slightly larger footprint, with more partners and associates in that linger like this; a decision regarding the debt and restructuring had to office. By and large you are starting to see Dubai as the stronger be made.’ regional hub.’ The case represents the latest legal action taken against Dubai Hogan Lovells decision flies in the face of much conventional entities after three foreign banks, including Royal Bank of wisdom in the region, which has seen the UAE capital as the heart of Scotland, filed proceedings against Dubai Group – which is owned government and oil and gas-related work in this part of the Persian by Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum – Gulf. last month. The development comes after reports ofS idley Austin’s appointment State-owned Dubai Real Estate has taken over management of of Matthew Cahill to its London branch. Mr Cahill is moving from Zabeel and will lead new debt discussions, sources claim. Officials at CliffordC hance’s Abu Dhabi office, where he has worked since 2011. the business are yet to comment.

Saudi Arabia – finance South Africa – insolvency Authorities crack down on market abuse Liquidations plummet in wake of reformed law Capital markets regulators in Saudi Arabia have fired a Liquidations in South Africa have decreased by more warning shot to institutions undertaking securities than 10 per cent for the first eight months of 2012 business in the country despite not being authorised compared to the year before, following the recent or exempt. introduction of updated business rescue laws. A briefing note from the local office Lof ondon-based magic circle The laws – which came into effect last year as part of the 2008 law firmC liffordC hance quotes the Saudi Arabian Capital Market Companies Act – help avoid job losses and liquidation by giving Authority (CMA) as saying the warning ‘reflects the legal position businesses protection against creditors, allowing for time to provided by the laws and regulations governing the securities reorganise and restructure. industry’ in the jurisdiction. The figures, released byS tatistics SA this week, also show a year- The on-shore regulatory model will make sure that an entity on-year decrease of 20.2 per cent in August. carrying out any securities activity must be licensed by the CMA or Adam Harris, director of the litigation department at South African be exempt, as defined in the securities business regulations. corporate law firm Bowman Gilfillan, commented: ‘The decrease in Under article 6 of those rules, a breach of the requirement the number of liquidations in August 2012 was due to voluntary may result in a fine or even imprisonment.A ny agreement or liquidations declining by 110. contract made in relation to a security transaction conducted by an ‘In contrast, compulsory liquidations increased by 49 over the unauthorised person will also become void. period. Lower voluntary liquidations suggest that the business rescue The rule tightening is accompanied by a CMA call to Saudi securities procedure is taking hold in the economy and that there has been an investors to deal only with authorised persons. increase in the number of companies seeking assistance.’

10 The Global Legal Post 12 October 2012 www.globallegalpost.com Doing the deals

France: investing in the future The big deal Paris-based global law firm Gide Loyrette Nouel advised Siparex, a leading French private equity investment specialist, on the launch UK: fit for a king of its venture capital fund Siparex MidMarket III. The fund, which held a first closing at €90 million, has a long- term objective to raise €150m. Dedicated to financing the domestic and international growth of up-and-coming mid-cap companies, this French simplified- procedure, fonds commun de placements à risques (FCPR) has collected the commitments of French and foreign institutional investors and family offices alike. Siparex was advised by Gide’s investment funds team, including partner Stéphane Puel, Julien Vandenbussche and Caroline Herrgott. Germany: big offering Insurance and Investments group Talanx was advised by German law firm Hengeler Mueller on its now successfully completed initial public offering following a listing of shares on the Frankfurt Stock Exchange. The IPO is the largest in Germany since March 2010, with a gross issue volume of more than €500 million. The Hengeler Mueller team, led by partners Reinhold Ernst and Maximilian Schiessl, advised Talanx together with New York law firm Simpson Thacher, which advised on the US private placement. The Dubai and London offices of global law firmN orton Rose advised a syndicate of Middle Eastern banks led by ABC Spain: supermarket sweep International on a senior Shariah-compliant facility to King’s Leading Spanish global law firm Uría Menéndez advised Reach Estates – a joint venture between London developer CIT and Distribuidora Internacional de Alimentación (DIA) on its Jadwa Investment – for the redevelopment and refurbishment of acquisition of 100 per cent of the shares in Schlecker, Unipersonal the Kings Reach Tower on London’s south bank. (Schlecker Spain). The financing comprised a £100 million facility and a £145m The deal, which will see DIA indirectly assume the operation of mezzanine tranche provided by Saudi Arabia’s Mohammed Al Schlecker Portugal, values Schlecker Spain at €70.5 million. Subeai & Sons Investment. Schlecker specialises in the retail discounting of household, The Norton Rose team was led by Dubai-based Mohammed beauty and health-related products. DIA will add Schlecker Spain’s Paracha. Senior associate Martin Botik advised on the banking 1,127 shops and three distribution centres, as well as 41 shops and aspects with assistance from Thomas Lindley. London-based one distribution centre in Portugal, to its network. As a result, the partners Wasim Khan, Chris Hill and John Challoner advised on supermarket will have a network of more than 4,000 shops and 21 property, construction and tax aspects respectively. warehouses in Spain in addition to 600 shops and four warehouses King & Spalding advised the mezzanine financiers and Jones in Portugal. Day advised CIT. Isle of Man advice was provided by Appleby Partner Ramiro Rivera led the Uría Menéndez team advising on acting for the senior banks and Cains acting for CIT and the the transaction. mezzanine financiers.A ppleby and Mourant Ozannes provided Cayman Islands law advice and Al Tamimi Riyadh advised the Japan: good to talk senior banks in relation to Saudi law aspects. Washington DC-based firmA kin Gump advised Japanese telecommunications company eAccess on its purchase by rival also involved the retention by Tawa of a significant reinsurance debt Softbank for $2.6 billion. book of KX Re. The deal sees Softbank – Japan’s third-ranked carrier – absorb Partner PK Paran and senior associate Amar Maan led the DLA fourth-ranked eAccess, resulting in a combined user base of more Piper team. than 34 million. The merged company is valued at more than $5 billion. Switzerland: snap, crackle and pop Corporate partner Gregory Puff, head ofA kin Gump’s Hong Kong German law firm GleissL utz advised Swiss agrochemical group office and the firm’sA sia practice, led the team on the deal. Syngenta on its submission, via its subsidiary Syngenta Crop Protection, to initiate a takeover bid for the Belgian agro-biotech UK: performance counts company Devgen. Anglo-US law firm LAD Piper advised London specialist investor Devgen is a global leader in hybrid rice, but also specialises in Tawa on the sale of KX Reinsurance Company and OX Reinsurance crop protection and insect control. Syngenta has offered €16 for Company to Catalina UK Holdings. each Devgen share, representing a total consideration of around The sale includes 100 per of the shares in OX, which is wholly €403 million. owned by KX Re. The total consideration will be a minimum of $28 Gleiss Lutz, which regularly advises Syngenta in international million in cash and could reach $30m, depending on the financial mergers and acquisition transactions, fielded a team led by partner performance of KX Re between now and completion. The transaction Patrick Kaffiné.

Winston & Strawn: Into Africa

www.winston.com www.globallegalpost.com The Global Legal Post 12 October 2012 11 Guru talk

A global legal village More than 5,000 lawyers descended on the Irish capital last week. It wasn’t all parties and networking lunches, maintains Reuben Guttman, a wide range of serious issues also received a chewing over The International Bar Association – which responsibility, but also legal obligation. held its annual conference in Dublin last For multinationals incorporated in the week – is a melting pot of nationalities, US, at least some aspects of corporate languages, styles, and legal systems. responsibility may be mandated by The record turnout in Ireland of more the laws of a foreign nation under than 5,000 delegates is perhaps, more the sometimes forgotten doctrine than anything, a reflection of the global of ultra vires. Examine the articles economy and the financial crisis – a of incorporation for numerous reminder that the impact of regulatory multinationals and there will be language dereliction does not confine itself to restricting the company to endeavours geographic boundaries. that are legal. Even on the way to the conference While some nations struggle to enforce centre, a taxi driver pointed out the compliance with their laws, foreign headquarters of the agency charged with Dublin: provided the backdrop for the world’s lawyers regulations should not be considered picking up the pieces of the country’s irrelevant and compliance by large property crash and dealing with troubled real estate assets. corporations should not be optional. One can argue corporate At a meeting of the IBA’s Anti-corruption Section, money directors have a duty to ensure their companies comply with laundering, the US Foreign Corrupt Practices Act, UK anti-bribery local and foreign laws. Accordingly, enforcement of these duties legislation and compliance enforcement with anti-corruption laws in can improve the impact that corporations have on stakeholders Africa were all hotly debated. worldwide, including consumers, workers and the local environment. ‘The crimes are international, the victims are international, the float money is international, but the laws are not,’ arguedUK lawyer Political issues Brian Spiro of London-based BCL Burton Copeland. Understandably, much of the IBA conference focussed on issues The melding of different legal systems or calls for uniformity of of specific interest to global lawyers and their firms, but broader laws were constant topics. Delegates at a meeting of the Antitrust political matters also fell in the spotlight. There is perhaps no bigger Section clashed over the application of US laws and the jurisdiction’s forthcoming geo-political event than the US presidential election, contingency fee system, whereby lawyers can be paid based on the level and the IBA provided a platform for an interesting development. of damages recovered. One lawyer from a US national law firm probed Keynote speaker and Nobel Prize winning economics professor European colleagues over whether they could take a contingency Joseph Stiglitz announced his support for the re-election of Barack interest in cases they refer to US lawyers who file suits inA merica. There Obama, in a speech that also called for additional regulation of was no clear response from a panel of UK, Irish and Polish members. the banking and financial services sectors. ‘The first fiscal stimulus worked, but it was too small,’ he told delegates. ‘We need another; we Bounty hunters cannot afford not to do another stimulus.’ Similarly, delegates at another session debated whether other Prof Stiglitz’s support for Mr Obama came as a surprise response countries should adopt the US practice of paying bounties to to a question from a British lawyer. ‘Clearly Obama is better,’ he whistleblowers. Currently three US laws provide for bounties to be said. ‘When compared to the alternative there is no choice.’ But Prof paid to individuals or entities providing information leading to the Stiglitz also said that Mr Obama could have done ‘more with the recovery of government money. restructuring of home mortgages’. The Internal Revenue’s code allows the Treasury Department to He went on to compare the conduct of the banks to gambling, pay individuals who provide information enabling the government which is why ‘regulation is so important’. While Prof Stiglitz urged to collect unpaid taxes. The False Claims Act provides for bounties more regulation, he expressed concern that political gridlock may to be paid to those who have brought suit in the name of the preclude timely government intervention. ‘People say they believe in government against entities or individuals that have filed or caused free markets, but one person’s freedom is the right not to be injured to be filed false statements causing the payout of monies which – in by others,’ said Prof Stiglitz. whole or in part – came from the government. He commented that the ‘disparity in income brought about by the The Dodd-Frank Amendments provide for the payment of bounties economic crisis means there will be a disparity in political clout’. And to those whose original information or analysis enables the Securities he urged IBA members to respond by making sure there will always be and Exchange Commission to collect sanctions against those that access to justice for those without the economic means. have violated securities laws including the Foreign For sheer volume of participants, nationalities and Corrupt Practices Act, which proscribes the bribery of Reuben Guttman is head subjects covered, the IBA conference stands alone. As one foreign government officials by companies trading their of the False Claims Act Continental European lawyer summarised over lunch in stock on US exchanges. practice at New York and Dublin: ‘I don’t know any other organisation where you Delegates also wrestled with the vexed issues Washington DC-based can have the opportunity to meet lawyers from all over of whether being environmentally conscious and litigation boutique Grant & the world. It’s an opportunity to network and learn about treating workers fairly are not just matters of moral Eisenhofer systems of law that could come to our country.’

12 The Global Legal Post 12 October 2012 www.globallegalpost.com The Voice

The view from Tunis The Middle East and North Africa (MENA) region is actively seeking  business in the post Arab Spring era. Steven Friel reports from  an event looking at opportunities and risks The MENA region in general, and Tunisia Financial Board, described the creation of in particular, are open for business. The the Casablanca Finance City (CFC), which economic and legal environment is coping aims to make Casablanca a business hub well following the Arab Spring, which has for the region and leading financial centre heralded a new era, and UK investors and in North and West Africa. Like the Dubai their lawyers are encouraged to co-operate, International Financial Centre (DIFC), it but not colonise. Those were the clear will have a standing arbitral body – able to messages coming out at an event – North resolve disputes according to international Africa in Focus: The View from Tunis – that standards and principles. An oft-cited took place last week. complaint of international arbitration is the The gathering featured a galaxy of domination of most tribunals by western local businesses and political stars and European and North American arbitrators, companies and law firms were given a often to the exclusion of arbitrators from high-flying perspective on the area. other parts of the world, particularly Africa. The British Ambassador to Tunisia, This point was addressed by Sami Christopher O’Connor, emphasised how Hourebi of the ICC, who provided an important it was to rebuild trust in the overview of the ICC’s statistics relevant region. He said that not only must foreign to the continent. It was agreed that more investors rebuild their trust in the people mages needs to be done to develop and encourage and institutions, but the domestic business I y a larger pool of talented and experienced ett

communities must also work towards G © African arbitrators. restored trust and confidence in their own national governments, a point echoed by the Governor of the Central Arbitration and assets Bank of Tunisia. Another complaint of international arbitration is that it has become One of the key complaints about Tunisa was the government’s too slow and too expensive. Early adoption of mediation and other lack of transparency since the fall of the Ben Ali regime. At a forms of ADR, which have risen to prominence in Europe relatively session moderated by Nicholas Tse of Brown Rudnick, high-profile recently, need be considered. speakers debated this issue with Ahmad Al Karam, director- Expropriation and other risks to investments were actively general of Amen Bank, Jaafar Khatteche, chairman of Tunisia’s debated, with a number of animated questions from the floor about Banque National Agricole and Maher Kallel of the Poulina Group new laws introduced to cancel investments supported by members on the panel. of the Ben Ali government. Perhaps unsurprisingly, there is a level of The government’s failure to prepare a draft constitution and confusion about how to treat contracts entered into by a regime that to agree on a road map for elections, despite having continually is now considered corrupt. promised to do so over recent months, received particular Asset-tracing and asset-recovery also came under the spotlight. criticism. One of the core themes coming out of the discussions from participants including Paul-Gully-Hart of Schellenberg Wittmer Circling vultures in Geneva and Andrew Durrant of FTI in London, was the need Vulture funds, which see private companies trying to profiteer from for pragmatism in finding and recovering assets dissipated by the debts of some of the world’s poorest countries by buying up debts corrupt regimes. from poor companies and litigating to recover the full amount, came An example given was the need to provide amnesties to certain under the spotlight at the event. former members of those regimes in return for information on the The African Legal Support Facility, which provides assistance whereabouts of assets. to Highly Indebted Poor Countries (HIPCs) facing claims from The prospects for business in the MENA region, and indeed across these funds, is seeking to build up know-how and expertise within African, are obvious. There is much good work that international law reputable law firms in the region. firms can do on the continent. Relationships with good local firms There are good investors and, as we know from the vulture are key. What comes across loud and clear from events like this is fund cases, there are bad investors. The task for those of us that we will be greeted with a warm welcome if we come in a spirit of interested in the development of the region is to cooperation, but not if we seek to colonise. attract good investors with the right economic and The event was organised by Brown Rudnick in legal conditions, but to deter the bad investors by association with the International Chamber of educating local governments on how to avoid these Commerce, the Tunisian Bar Association and the Law funds in the first place and to work with them in Steven Friel is a partner in Firm Network, in Tunis on 4 and 5 October. defending against the vultures. litigation and arbitration Attendees included the African Development Bank, Dispute resolution is another area which is growing at international law firm Petrofac, Africinvest and several oil, banking and public in the region. Hicham Zegrary, of the Moroccan Brown Rudnick sector organisations from Morocco, Libya and UAE. Your essential digest of the very best of the world’s legal media www.globallegalpost.com www.globallegalpost.com The Global Legal Post 12 October 2012 13 Talking points

Game changers Riverview Law is still waiting for its alternative business structure licence, but the firm is already carving a reputation for innovation in the evolving English legal landscape. Jonathan Ames meets the two driving forces behind the organisation, who warn the rest of the players that the market is changing for good In the extended run-up to business on a mission. Under chief implementation of the most executive Karl Chapman it has controversial elements of England’s already launched a service in New Legal Services Act 2007, much of York and claims to be on the verge the country’s law firm élite were of merging with another, so far dismissive of the legislation’s potential unnamed, English practice. impact on their business models. Global law firms were rich enough Before implementation of the Legal not to require external investment Services Act, many – especially those at and focused enough not to need to the business law end of the English legal bring in non-lawyer partners. profession – were dismissive of the idea Now that the legislation is live that alternative business structures would – and amid an unanticipated rush make a serious impact. Were they wrong? of applications for alternative Nigel Knowles: Although it has taken 10 business structure licences – that years, from people thinking about the analysis doesn’t appear to be quite so act to writing it to implementation, confident. While so far no global firm now all systems are go. There will has announced a bid for a licence, soon be many changes and a new there is nonetheless a perceptible normal as a result. shift in mood, with senior partners In the period of turbulence that we at top firms at least are in – partly fuelled CV acknowledging that the by the financial crisis, Sir Nigel Knowles, legislation is likely to but definitely fuelled joint chief executive change the nature of the ‘How many people by the Legal Services and managing partner English legal profession. walk through Act – there will be a of DLA Piper. Likewise, US bar the doors of the re-ordering of the legal authorities have market. Certain people Sir Nigel has been managing ratcheted up their Co-op each week? will rise in that process partner since 1996 and, during negative rhetoric Those are all potential and some people will fall that time, has led its growth from regarding external customers for its away. But it is it all there a regional UK law firm to what is investment, possibly legal services’ to be grabbed, for those now the world’s largest. Globally, a sign that they fear who get it right. DLA Piper has a turnover in the inevitable. Indeed, The ABS rules will excess of £1 billion. only a few days ago, attract market entrants New York-based Jacoby & Meyers that initially will be likely to target Career history resurrected a challenge against a domestic private clients – for He joined Yorkshire firm state rule preventing law firms from example, wills, probate, residential Broomheads as a trainee in seeking investment from non- conveyancing work. But they will also 1978 and became a partner only lawyers, claiming the prohibition is tackle the small and medium-sized six years later, specialising in unconstitutional. enterprise end of the business market. corporate finance, private equity And some of the partners at In the new environment, SMEs will and mergers and acquisitions. arguably the world’s biggest law firm be able to get much better support By 1990, he was appointed head by number of lawyers – Anglo-US on a retainer-based arrangement that of the commercial group at post- behemoth DLA Piper, which has 77 will be very cost effective. merger Dibb Lupton Broomhead, offices in 31 countries – clearly take ABSs will also bring some becoming managing partner the view that ABSs and new models of refreshing re-engineering to high- in 1996. practice are unavoidable, and, indeed, value, low-volume commodity legal Since that time, he has led the potentially very lucrative. work. What will allow them to do practice through several mergers, At the end of last winter, the firm’s this is that they will be structured culminating in a three-way joint chief executive and managing completely differently – they will transatlantic deal that created partner, Sir Nigel Knowles, announced have far fewer equity partners, they the current firm. that DLA Piper was taking a share of will have lots of paralegals and LawVest, the parent company to an junior lawyers, they will have a high innovative new legal practice called dependency on technology, most of Riverview Law. the advice will be given online; they time and resolve. Once they’ve There were subsequent reports that won’t occupy city-centre locations, worked out what they want from not all the partners at the global firm but out of town locations. the market and a plan to execute were happy when it emerged that Sir that, then there is nobody out there Nigel and several other partners had The Co-operative supermarket has already to stop them. How many people also made personal investments in been granted an ABS licence, and other walk through the doors of the Co-op the business. large retailers are waiting for regulatory each week? Those are all potential Internal scuffles aside,R iverview authorisation. How much of a threat will customers for its legal services. Law – which blends solicitors and they present to England’s traditional legal barristers and offers business clients profession? If the ABS model will primarily target fixed fee deals – appears to be a NK: These people have got resource, private consumer clients, why is it

14 The Global Legal Post 12 October 2012 www.globallegalpost.com Talking points

or introduce the client to them. The hate to be the managing partner of arrangement gives more strategic a firm based just inL ondon, with an options, but we are not forsaking our exclusive London cost base and with strong local client base. no business outside of London or We now have in our midst an anywhere else in the world – with my offering that will be relevant toS MEs, only selling point being that I might some of our smaller clients that have charge less than other firms. That been with the firm for 20 years but for would be fatal. whom we are not appropriate now, as we are a firm with aspirations to be Riverview Law itself has already made the leading global business law firm. moves internationally with the opening of an outpost in New York. What is the Nonetheless, it has been reported that rationale behind that? your firm’s involvement with this Karl Chapman: Our current US strategy project has caused some concern among is to provide a route into the English DLA partners. Have you made mistakes justice system for US corporations and internally in the way this deal has been US law firms. handled – or are some people always We are providing that direct route going to be uneasy with such a on a fixed-price, absolute cost- new model? certainty basis. And there is a lot of CV NK: ABSs and businesses arising out demand for it. I don’t think it would Karl Chapman, of the provision of the LSA are here be surprising if, after a while, we saw chief executive of to stay. There is no point in being US law firms working in partnership Riverview Law in denial and pretending it is not with us. And we will open in other Read law at Birmingham happening. Businesses have got to parts of the world, creating a roadmap University before joining adjust to a different competitive into the English justice system. Guinness Mahon Investment landscape. And, as far as DLA Piper Management in 1985 as a unit trust is concerned, Riverview is not in the Back in England, how has the traditional fund manager. least threatening. legal profession reacted to your launch? He left in 1989 to launch KC: We are currently not having recruitment and training The international legal services market any problem recruiting lawyers consultancy CRT Group, which has been a huge success story for a coterie domestically – there is definitely grew to a market capitalisation of of US and English law firms over the an oversupply. more than £600 million. past 15 to 20 years. But there are signs Invariably every general counsel In 2001 he left to set up of difficulties at least in some regions with whom we sit down for resources outsourcing business of the world. Are you worried that the discussions is having an internal AdviserPlus Business Solutions. international market could contract debate over whether to expand the He founded LawVest in June 2011. significantly? in-house legal team. Why do they NK: There has been a paradigm shift consider doing so? Because they are in the way in which buyers of legal dissatisfied with law firms and their services buy those services. In general pricing models – and we say there is terms, consolidation in the an alternative, which we call relevant to DLA Piper? Why have some of international market is just legal advisory outsourcing. the partners at the firm invested in a new about to start. The magic circle We ask general counsel: ABS firm in waiting? firms are the global élite, then ‘Invariably every general what type of legal advice is NK: We are simply taking a strategic there are global business law counsel with whom we sit crucial to your business and stake in Riverview. We don’t influence firms, and the super-niche and down for discussions is your sector that you will it or manage it; we are shareholders. It the more general niche. having an internal debate never outsource? And then gives us a foot in the new camp with a But there are still a lot of ask yourself, how do I source dynamic offering. firms out there that have not over whether to expand the advice for the rest? We say Also, the work that Riverview Law is made up their minds or not in-house legal team’ to GCs – give us all your looking to do and is doing is not work addressed what they are going employment work, all your that DLA Piper is doing – so there is to do and they will be the commercial contract work, a perfect match. If a client realises subject of consolidation. Some may or intellectual property work, or that we don’t do that type of work cease to exist; some may merge and commercial property leases… any more, we can introduce them to sort themselves out. The use and perspective the market Riverview, which can take its own I am very relieved that DLA Piper has on the word ‘commodity’ is view. And when we are preparing made as much progress as it did interesting. Commodity adds up to large tenders for corporates that are before the crisis, because the crisis has billions of pounds a year in the UK looking to outsource commodity allowed us to use our differentiation market. It is not a small amount of work that we can’t do competitively, to continue to attract business and money and we can do it much more we can do a joint venture with RV take market share. Right now, I would efficiently and effectively. Reach more than 97,000 business lawyers worldwide when you advertise in The Global Legal post. Call Maria Sunderland now on +44(0)20 7332 2576 [email protected] www.globallegalpost.com The Global Legal Post 12 October 2012 15 Corporate counsel round-up

how best to avoid law suits. ‘When hiring High fees main reason law firms sacked an outside law firm, make sure they know all the facts – and also make sure the Price is the main reason for ending clearly unhappy with the services received. other parties know you have hired outside relationships with law firms, say in-house Around 30 per cent of the in-house counsel… Be very careful what you say counsel at leading blue-chip companies, lawyers had ditched a firm within the during correspondence with adverse parties.’ according to a survey released this week. past year, with reasons ranging from ‘they The research – undertaken by UK market were doing a bad job: no results and a lot $700m fine for pharma giant research firmA critas and reported by The of invoices,’ to ‘poor service; lots of delay; Chicago-based healthcare company Abbot American Lawyer – found that unhappy when challenged, they were completely up Laboratories has been hit with the second- clients tended to bunch together their front and just said [they] don’t have enough largest criminal fine for a single drug, after reasons for firing a firm into four clear resources, which is pretty astonishing for an marketing Depakote for uses that had not categories. With 21 per cent, costs formed the international law firm.’ been approved. biggest slice of the pie, while lack of expertise One of the more worrying issues for Judge Samuel Wilson of the Western wasn’t far behind on 18 per cent. Some 15 law firms was the inability to maintain a District of Virginia dished out a $500 million per cent cited poor service as a reason for relationship when the partner handling a criminal fine, a forfeiture of $198.5m, and a firing a law firm, while the departure of a key client left the practice.O ne in-house lawyer $1.5m award to the Virginia Medicaid Fraud lawyer was mentioned by 11 per cent. said: ‘I find that often, when partners leave, Control Unit, reports the blog of Legal Times. The companies – of whom 20 per cent those firms neglect to contact clients to say we Depakote was promoted as being able reported revenues of more than $6 billion, still want your business and we have signed to control behavioural disturbances in and another 40 per cent reported more than a new relationship manager. They tend not dementia patients and to treat schizophrenia. $1bn in turnover – were frank with their to correspond with you. Yet the partner who However, according to the Justice answers, with some of the in-house lawyers leaves always contacts you from the new firm.’ Department, these uses were not approved by the US Food and Drug Administration. In-house counsel under fire be acquitted by a judge who said she ‘never The fines followA bbott’s guilty plea to a In-house lawyers are being increasingly should have been prosecuted’. criminal misdemeanour charge regarding targeted by lawsuits and prosecutors, In a post on The Wall Street Journal’s blog, the mis-branding last May. Abbott also according to the former vice president and she says in-house lawyers should ensure all entered a civil settlement agreement under general counsel of British multinational their work is above board, as the authorities which it agreed to pay $800m to the federal pharmaceutical company GlaxoSmithKline. will be monitoring them closely. ‘I know that government and several states to resolve Lauren Stevens was indicted in 2010 on sometimes it feels as though we have a target claims that its practices caused false claims four counts of making false statements to the on our back,’ she said. to be submitted to government healthcare US Food and Drug Administration, only to Ms Stevens gave several clear points on programmes.

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16 The Global Legal Post 12 October 2012 www.globallegalpost.com Management speak

Bringing up baby Lawyers as employers need to take maternity leave seriously, argues Sarah Priestley, highlighting an innovative project taking place at her own global law firm

Law firms should be dedicated to The final sessions help the fostering an inclusive, vibrant work employee to readjust into the environment – not least because office. Returning can be a difficult doing so generates positive and experience, as perspectives of creative solutions for clients. working life may have changed. To strive towards that goal, my law Indeed, a loss of confidence can firm has developed several employee be one of the biggest challenges in networks to support and encourage the return to work. The coaching all forms of diversity, one being helps with this, as the final sessions ‘Women@Weil’, a global network of focus on aims, achievements and the employees focusing on mentoring, transition back to work. networking, pro-bono initiatives and My firm recognises the diverse business development. needs of its employees, in particular As part of Weil’s family-friendly the need sometimes to change benefits programme, the firm offers responsibilities of both work and employees several family-related personal lives. It operates a flexible initiatives, including a specialist working policy, which is open both provider to assist with all aspects to mothers returning from maternity of parenting, including emergency leave as well as other employees childcare, recruiting/hiring nannies, more widely. child-minders and nurseries. This Some mothers choose to return service is provided to all employees, to existing roles, while some prefer with the cost borne by the firm. a different role or working pattern. Coaches help them move back to Confidential sessions Sarah Priestley which means they can relate directly their roles and make sure their new An issue particularly close to is a corporate tax to the experiences involved. working patterns function well. my heart is the firm’s maternity partner at the There are usually between three coaching initiative, launched London office of and five sessions. The first two are Sounding board in summer 2009, which grew New York-based typically held before maternity The feedback on our initiative out of feedback from women law firm Weil leave, helping the employee demonstrates why it is so important who were going on, or returning to plan a smooth transition by – the changes and upheaval to from, maternity leave. They had communicating with colleagues and working and personal lives women highlighted the fact that becoming a clients, and setting aims for desired undergo when they have children working mother, particularly for the achievements from maternity leave, cannot be underestimated. first time, was daunting. as well as discussing a possible date As one Weil London associate I was one of the first women to for returning to work. said following her maternity leave: receive the coaching on the birth ‘I was initially sceptical and didn’t of my second child – and found a Isolating appreciate the potential benefits marked difference between that The session conducted during [of maternity coaching]. However, experience and returning to work maternity leave can be essential I really clicked with my maternity the first time. Having spoken with to keep track of goals and aims. coach and found the sessions a other women in the office who have Maternity leave can be isolating useful tool in helping me navigate a had the coaching, there is an equally as there is little contact with the totally unfamiliar experience. [My positive view of the initiative. working world. coach] provided an independent During the coaching, we arrange This session helps employees think and objective sounding board that individual confidential sessions at about returning to work, while also forced me to focus and structure my the firm’s expense. Employees meet ensuring they enjoy their time with thoughts on what I wanted from separately with around three coaches a new baby. The session explores maternity leave and the process and choose the one with whom they any concerns around the status of of returning to work. Articulating have the best rapport. the employee’s work role, as well as those thoughts, and thinking All coaches are qualified helping with questions such as: will about my plans in more detail in psychologists, counsellors, and/or I be able to concentrate if I leave my response to [the coach’s] questions, have relevant experience in human baby? What are the possible childcare was invaluable to me making the resources and/or law. And the options? Will I be able to show I am transition from work to mother and majority are mothers themselves – committed while working flexibly? back again as smooth as possible.’

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global lawyer.indd 1 12/03/2012 12:08 www.globallegalpost.com The Global Legal Post 12 October 2012 17

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Previously, he was a partner at UK Hong Kong legal and accountancy firm Tani & Associates. Steve Wardlaw has returned to the London office ofH ouston law George Pinkham has been Paris-based firm CB W & Associés firm Baker Botts. appointed head of SJ Berwin’s has announced the arrival of Mr Wardlaw, who had spent Hong Kong office as the firm Patrick Glebocki as a partner in seven years in the firm’s Moscow looks to focus on expanding its its Strasbourg office. Mr Glebocki outpost, returns as partner in presence in Asia. The London- will manage the office – which charge of the global law firm’s based firm plans to build on its opened in 2011 – while also office in theUK capital. existing practices in Hong Kong taking charge of the firm’s tax and Shanghai, focusing on private practice. Magic circle firmL inklaters equity, corporate, litigation and has appointed Paul Wilson as dispute resolution work. Northern European law firm head of its London construction Mr Pinkham has taken leading Roschier has appointed Håkan practice. Mr Wilson, currently at roles for the firm before, having Sterner as intellectual property global rival DLA Piper, will join founded the Paris office in 2001 and life sciences counsel. He the firm as counsel inN ovember. and also participated as a member will be based in the firm’s He began his career at Linklaters, of the firm’s strategy committee Stockholm office. gaining expertise in major real for 10 years. George Pinkham The move strengthens the estate construction projects. firm’s expertise in multi- Chicago-headquartered London technology and media jurisdictional patent litigation, Winston & Strawn has recruited law firmO lswang has appointed patent strategies, licensing, Joe Tirado to be co-chairman outsourcing specialist Craig compliance and regulatory work of its international arbitration Rattray as a partner. He joins related to the pharmaceutical practice. Mr Tirado – formally from global law firm Berwin industry. Prior to joining of Norton Rose, where he Leighton Paisner. Mr Rattray Roschier, Mr Sterner had was head of international is the firm’s fourth technology worked as in-house counsel for arbitration and alternative appointment this year following AstraZeneca for 14 years. dispute resolution – will join the arrivals of Ian Ferguson, Ross the firm’s London office. McKean and Martin Hammer. German law firmL uther has bumped up its Berlin and Stuttgart offices with the Tuvi Keinan Dutch law firm Boekel has Europe bolstered its London office with recruitment of Jörg Alshut and Boston-headquartered Brown three partner appointments: Kris Armin Weinand. Mr Alshut joins Rudnick has secured Tuvi Keinan Ruijters (corporate/mergers and Pittsburgh-based international the Berlin office as a partner in as a partner in its London real acquisition), Angelique Thiele law firmR eed Smith has the intellectual property and estate and restructuring office. (banking and finance) and launched a strategic alliance technology team, while Mr Mr Keinan has experience in Eugenie Nunes (employment). with Greek firmPapapolitis & Weinand joins the Stuttgart cross-border restructuring and The firm’sL ondon office opened Papapolitis. The deal follows two office as a partner in the finance, and has previously in 2010. years of close, informal work corporate law department. worked with high net-worth between the firms. individuals, private equity Regional law firmH arrison Clark They will now concentrate Ohio-founded Squire Sanders and hedge funds. He joins has launched a licensing and on the large projects and has boosted its Prague labour from New York-based global regulatory service, led by partner transactions anticipated and employment practice with financial services business Heath Thomas. Mr Thomas, in Greece as a result of the the lateral hire of partner and Morgan Stanley, where he was who only recently joined the economic situation and ongoing former head of employment head of European real estate firm, specialises in licensing structural reforms. at Baker & McKenzie, restructuring. and gaming, and is a recognised Karin Konstantinovová. Ms expert in applications under the Konstantinovová is regarded as Simmons & Simmons has Licensing Act 2003, Gambling one of the leading employment followed up the recruitment Act 2005 and associated lawyers in the Czech Republic, of banking partners Ross legislation. having advised local and Miller and Richard Cook with multinational clients on a range the announcement that of Nigel Dickenson is set to boost of matters under Czech and EU Helen Hancock will join the the financial services and law over the past 15 years. London-based partnership in products team at the London She joins the global legal December. With more than 20 office of global franchised practice with colleague Hana years’ experience in advising firmC MS, following his Machýčková, also from Baker & on transactional banking move from magic circle Andrea Sparano McKenzie. and capital markets work, practice Allen & Overy. Mr Ms Hancock specialises in Dickenson specialises in a Corporate restructurings expert Washington DC-based law corporate banking, property, range of derivative transactions, Andrea Sparano is to join the firmC ovington & Burling project and acquisition finance. focusing on ‘over-the-counter’ Milan office ofS immons & has announced the hiring She joins from Bristol-based derivatives, structured products Simmons. With more than 20 of leading European public law firm Burges Salmon, where and structured finance.H is years’ experience in corporate affairs advisorPaul Adamson. she was director of banking. appointment follows the restructurings, workouts Mr Adamson joins the firm’s Ms Hancock was previously promotion of Michael Cavers to and insolvency, Mr Sparana Brussels office as it senior policy a partner at Simmons & partner in May and brings the moves from law and chartered advisor and will work closely Simmons between 1995 and total number of derivatives and accountancy firm D&S De with the global government 2005. She will be based in the structured product partners at Dominicis & Sparano, where affairs team alongside former firm’s Bristol office. CMS in London to four. he was a founding partner. Ambassador Jean De Ruyt, who www.globallegalpost.com The Global Legal Post 12 October 2012 19 Global people

served as Belgium’s permanent ‘Pete’s visionary role in bribery, and Shaoyu Chen, food representative to the EU. creating a truly integrated global and drug law, both in Beijing; Asia platform, combined with his Christopher Eppich, intellectual Multinational law firmS alans strong commitment to Europe property litigation in San Diego; London law firmO lswang has has promoted Igor Ostrowski to as part of that platform, have Ingrid Rechtin, corporate and beefed up its technology and its partnership. He will take over been, and will continue to Winslow Taub, patent litigation, sourcing practice with the as head of the practice’s central be, the source of inspiration, both in San Francisco. And appointment of two partners to and eastern European intellectual encouragement, energy, and in Washington itself: Michael its Singapore and London offices. property, technology and success for the entire European Fanelli, antitrust, white collar After an initial period in telecommunications department. practice of this great law firm,’ investigations and litigation; London, Ian Ferguson will be A high-profile lawyer in Poland, said Martin Lane, Europe Holly Fechner (Washington), joining Olswang’s Asian base in Mr Ostrowski spent 15 years in managing partner. government affairs;Jonathan Singapore. private practice before switching Gimblett, international He arrives from New York- to the Polish Ministry of Elsewhere, K&L Gates has arbitration and antitrust law; based firm Pillsbury Winthrop Administration and Digitisation, added Hugh Matsubayashi to Rukesh Korde, commercial Shaw Pittman, and has expertise where he served as deputy its Seattle office as a partner litigation; Mark Mosier, appellate in outsourcing transactions, minister. He was also a member in its intellectual property litigation; Chris Pistilli, litigation; advising both suppliers and of a team that provided advice to procurement and portfolio Michael Riella, corporate and customers. the Polish prime minister. management practice. securities; Simone Ross, litigation; Ross McKean will join Mr Matsubayashi joins from Peter Swanson, litigation and Olswang’s London team US NeuroVista Corporation, where intellectual property. early next month after 16 he was vice president of legal years at Baker & McKenzie’s affairs and intellectual property. Leading international law firm office in the UK capital. Mr Peter Kalis has been unanimously Maples and Calder has added McKean specialises in non- elected to a fifth term as chairman Global six funds partners to its Cayman contentious and contentious IT, and global managing partner of Islands office:H eidi de Vries, outsourcing, communications Pittsburgh-headquartered law Julian Ashworth, Sheryl Dean, and telecommunications firmK &L Gates. Washington DC-based firm David Marshall, Philip Millward projects. Mr Kalis – who has served as Covington & Burling has elected and Gwyneth Rees. The lawyers The moves follow the the firm’s head since 1997, when 15 lawyers to its partnership. The join another recently arrived addition of green technology it was known as Kirkpatrick & new partners are: Robert Amaee, partner, Tim Clipstone, who and renewables partner Martin Lockhart – will continue in the white collar criminal defence started at the firm’s British Virgin Hammer to the firm’s German role until at least February 2017. in London; Eric Carlson, anti- Islands office in June. team in May.

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20 The Global Legal Post 12 October 2012 www.globallegalpost.com Blagging the blogs

A wander through the global legal profession’s blogosphere

The stress test question, which unfortunately to potentially sow the seeds of all lead to spills. As a result, this case Law firm partners may cite the as yet has no clear answer due sorts of problems for the future.’ could find itself in the hands of pressure of bringing in business to the sad fact that the Solicitors a jury. Obviously, the school has and keeping clients happy as Regulation Authority (SRA), Dangers of soup some duty to look out for the crucial causes of their stress who will be policing the ban, still Following up on a series of hot safety of students. But how far levels being alarmingly high. haven’t provided any detailed drinks litigation, Nick Farr, an should that duty extend?’ However, a four-year research guidance on the subject.’ associate at South Carolina law project conducted by Harvard Despite the lack of guidance firm Gallivan White & Boyd, Keep a lid on it Kennedy School’s Decision and vague indications of what posts that if a consumer orders Following an editorial piece Science Laboratory, Stanford the ban may entail, Mr Kevan a beverage to be served hot, no from The Washington Times University and the University suggests four potential scenarios. legal action should ensue as the which stated ‘Princess Kate of California has found that First, rather than buying cases, restaurant meets the consumer’s needs to remember there is those in leadership positions are solicitors’ firms will have to do expectation. no privacy, so keep your top significantly less stressed than their own marketing, possibly However, in Wisconsin an on’, Daniel Solove – the John those further down the chain. even on the high street. eight-year-old girl is suing the Marshall Harlan Research Vivia Chen – chief blogger Alternative business structures Beloit Turner School District Professor of Law at George at The Careerist website – isn’t may be a potential way around over burns sustained from a spilt Washington University Law surprised one bit. the ban – something the SRA cup of soup. School – has contended that ‘In a law firm context, at noted in its discussion paper She alleges that the school this view is plain wrong. least, associates are expected – although the authority may district and its canteen staff were ‘These sentiments are the to be at the beck and call of the impose extra conditions through ‘negligent in serving a substance typical reactions to media partners they work for,’ writes a licensing system. at an unsafe temperature’ and invasions of privacy – people Ms Chen. ‘I know it’s a cliché, Another point addressed ‘negligent in failing to properly should expect no privacy but I think it’s still true that by the SRA was the possibility instruct its students on how to whenever they are outside when partners ask you to jump, of solicitors joining forces for carry the unsafe substance. the confines of their homes. the only acceptable response is, promotion purposes. Again, ‘As an initial matter, this I contend that this view isn’t “How high”.’ the regulator said it would not case is clearly distinguishable correct both descriptively and prevent this. from many of its hot beverage normatively,’ says Mr Solove – Confusion over ban But the main problem centres predecessors,’ says Mr Farr. also a senior policy advisor at Barrister and author Tim Kevan on marketing companies, where ‘First, the plaintiff is a minor and Hogan Lovells – in a post on the has discussed the implications of the lines between referring cases doesn’t share the same degree LinkedIn website the 1 April 2013 referral fee ban and simple marketing will be of culpability for assuming the He goes on to assert that, for English solicitors in his latest blurred. risk of her food choice (if she while liability for photographing post on the Legal Terrier blog. Mr Kevan suggests that actually had one). Second, she Kate Middleton would be far ‘How are they going to the language used so far ‘is was required to transport the hot from clear in some jurisdictions, respond?’ asks Mr Kevan. ‘Now sufficiently ambiguous not only soup on a lunch tray through the in the EU she has a much that’s the multi-million dollar to cause massive uncertainty but cafeteria – a scenario that can stronger claim.

The Barometer in association with a Berwin Leighton Paisner innovation Should law firms give equity shares Is your legal department increasing to all staff and not just or decreasing its legal team qualified lawyers? in the next 12 months? UK law firmE versheds is reported to be considering giving stakes Forecasts for the global economy – and especially those of the US and in the firm to all non-partner legal and support staff.S uch a move Europe – predict low growth or stagnation at best and, in many cases, could see staff being able to buy shares or receive them for good continued recession. But there is often as much, if not more, work to performance. It is a bold move should it happen and one which be done in a downturn – particularly as areas such as regulation and would help move barriers between partners and their subordinates litigation increase for companies. Pay packets for general counsel in law firms. The great legal public have, however, overwhelmingly and other senior in-house lawyers are reported to be shrinking. It is rejected taking similar steps in their law firms.O ur survey reveals no surprise to find legal departments are taking a cautious view on that most partners in law firms would never consider offering equity recruitment as evidenced by the results of our research which reveals to non-qualified staff. little inclination to increase the lawyer count. Consider offering equity shares to non-qualified staff Plan to increase legally qualified staff

73.9% 65.8% 18.4% Never consider 26.1% Are making no offering equity changes to their shares to non- numbers 15.8% qualified staff

Plan to decrease legally qualified staff www.globallegalpost.com The Global Legal Post 12 October 2012 21 Hot gossip

Sincerest form of flattery; tabloid newspaper bitten; trouble over a stolen kiss; purple haze; and lawyer lashes out about weighty issues

You hum it ... Nestlé led to a lengthy legal The early favourite for Britain’s battle. X Factor, Lucy Spraggan, has The Daily Telegraph newspaper sought legal advice after a reports that Cadbury – which number of cover versions of her was acquired by US food giant songs appeared for sale on the Kraft in 2010 – first introduced iTunes media platform. the purple tinted wrapper in The Sun newspaper reports 1914 as a tribute to Queen that X Factor rules prevent Victoria. contestants from releasing any In a similar case, a Pantone original material online during tint was trademarked by show the competition. However, designer Christian Louboutin to after Ms Spraggan caught protect his signature red soles. the attention of competition Commenting on the judges with her original music Louboutin case, Fiona McBride, – including Last Night and partner at UK patent and Beer Fear – fan-made versions trademark specialist law firm began to appear on iTunes Withers & Rogers, said: ‘The billed as ‘tributes’. instant association of colour Ms Spraggan said: ‘It’s with a brand is a lucrative

disappointing to see other es opportunity which adds g people making money off a value to the brand. However, Im the back of my music. I just achieving this recognition and tty want to assure people I don’t being able to protect the colour endorse these recordings in any Ge © through trademark registration way and thank fans for their Lucy Spraggan: unimpressed by supposed ‘tribute’ recordings is not easy.’ continued support.’ readers might infer she had rights’ – used the picture during behaved inappropriately by a primary election involving Telly tubby Not a wild cat pursuing a relationship with a Colorado state senator Jean A morning newsreader on a A journalist at UK television younger man. White, one of a handful of Wisconsin television station network ITV has won ‘Such reading was particularly Republicans who supported a has grabbed headlines after she undisclosed damages from daily damaging and distressing to Mrs local civil unions bill. was attacked in a viewer’s email tabloid newspaper The Sun Whitmore, since she has been The mailer, which replaced for being obese and failing to after an article implied she was with her husband for 17 years the Manhattan skyline with a promote a healthy lifestyle. involved with youthful singer and married for the last two,’ snowy background, read: ‘State The Above the Law website Harry Styles. said Ms Varley. Senator Jean White’s Idea of discovered the sender of the Caroline Whitmore accepted “Family Values?”.’ Ms White lost message was local personal undisclosed damages, an the Republican primary vote. injury lawyer Kenneth Krause. apology and payment of her Started with a kiss ‘This case is about the In the email to Jennifer legal costs from News Group A homosexual couple from defilement of a beautiful Livingston, Mr Krause said: ‘I Newspapers, reports the BBC. New Jersey is suing a campaign moment,’ the couple’s lawyers was surprised indeed to witness Mrs Whitmore, who is in her group that used their image – from civil rights organisation that your physical condition early 30s, made the complaint in a mail-shot against a local Southern Poverty Law Centre -- hasn’t improved for many after an article was published in Colorado politician who told the BBC. years. Surely you don’t consider the newspaper in July entitled supported civil unions. The photographer who took yourself a suitable example for ‘Harry and cougar No 3’. In the photo, Brian Edwards the photo is also a plaintiff in this community’s young people... The article – which followed and Tom Privitere are shown the action. I hope that you’ll reconsider an interview by Mrs Whitmore holding hands while facing each your responsibility as a local with Mr Styles’ band, One other and kissing, with a New public personality to present and Direction, in which the 18-year- York City skyline as a backdrop, Cadbury colour win promote a healthy lifestyle.’ old kissed her on either cheek reports The Huffington Post. British confectionary giant In response to the email, – led to Ms Whitmore becoming However, the pair learnt in Cadbury has won a High Court which caused outrage on the the subject of abuse on social June that the photo had been legal battle in England over network’s Facebook page, Ms media network Twitter. used in a political campaign in a Swiss rival Nestlé in a result that Livingston said: ‘You could call Speaking in London’s High state far from their home. will prevent other confectioners me fat and yes, even obese on a Court on Thursday, advocate Virginia-based Public from copying its distinctive doctor’s chart. But do you think Julia Varley told Mr Justice Advocate of the United States purple packaging. I don’t know that? You don’t Tugendhat that in referring to – which describes itself as Cadbury trademarked the know me. You are not a friend Ms Whitmore as a ‘cougar’ and opposing abortion rights, same- colour – Pantone 2865c – in of mine... I am much more than linking her to Mr Styles, some sex marriage and ‘so-called gay 2008, but a challenge from a number on a scale.’

22 The Global Legal Post 12 October 2012 www.globallegalpost.com Bookshelf

Business as a whole. Among which he argues that once law from taking into account its resources are: corporate law is correctly seen the interests of the public Operations information regarding as public law, corporate interests when making decisions, if in so in Norway governmental can be nudged in the direction of doing those of the company’s regulation, intellectual the public good. shareholders are harmed’. That Published by: property rights, Mr Greenfield cites a long situation encourages more Bloomberg BNA and Norwegian history of public corporations corporate scandals and less Authors: Eva Linn immigration rules and that valued the public’s well- concern for a company’s own Gjerlaug, Espen labour laws. being as essential to good workers or the public interest. Nordbo The book is part of business, a concept that has all Additionally, Mr Greenfield Product Code: the Foreign Income but disappeared from today’s lambasts the loopholes in TPOR43 Portfolios Library, corporate environment, the Delaware’s corporate law as a $400.00 a comprehensive author maintains. way of ‘bypass[ing] democratic Putting a wide range of collection of issues concerning Like constitutional law or pressures... to export the costs Norway’s business law issues international taxation. environmental law, the laws of its legal structure to other under the microscope, this controlling corporations ought states’, which sets a dangerous publication is designed to inform The Failure of Corporate always to protect the public precedent for other states to foreign companies on how to interest, since the effects of a follow. conduct business in a country Law: Fundamental company’s decision-making The author sees corporate situated in a region of Europe Flaws and Progressive reach far beyond their select law optimistically, as a vehicle that is performing far better shareholders. for realising the progressive economically than many of its Possibilities Among the trends dream of creating neighbours. Published by: ReadHowYouWant Mr Greenfield is prosperity across In addition, some areas – such Author: Kent Greenfield particularly keen economic classes as tax – are explored, as the book September 2012 P/B £24.99 to see reformed, and shrinking breaks down the laws governing ISBN: 1459606167 the tyranny of the social stratification. individuals and corporations, Conventional wisdom has long shareholder’s interest With more prudent residents and foreigners. held that public corporations are ranks the highest. and publicly It also delves into the current not public in the true sense of the The pursuing of oriented corporate problems facing foreign word. Their accountability lies not shareholder interests governance, wealth businesses operating in Norway with the public, with society at is taken as gospel in can be generated from a practical point of view, large, or with their workers, but law schools, he argues, to benefit society at while also providing a cursory with their shareholders. and in many public large, and not just a explanation of the judicial But Kent Greenfield challenges companies, executives small oligarchy system and economic climate that notion in this book, in ‘are prohibited by of shareholders. Events

US The event will be hosted by the European Regional Forum of the The Life of a Start-up: From Initial Financing to IPO/Exit – 4-6 November, International Bar Association and will feature a number of speakers Silicon Valley from leading European law firms, government officials, financial As the stellar success of start-ups continues to bedazzle professionals experts and legal academics. and entrepreneurs from every industry, several distinct international Conference delegates will study current problems facing businesses legal and economic challenges facing these companies have arisen. operating in the central and eastern European region, particularly And this conference will seek to address the obstacles and issues in a those conducting cross-border investments. Key topics will consider part of the world where just about every other business is a start-up – the conditions of both new and old EU member states, and consider the Silicon Valley. a potential lull in business operations following the initial positive The issues facing start-ups feature myriad topics, and so it is phase after accession. fitting that the conference is hosted by a number of divisions of the Details: Held at InterContinental Hotel Warszawa, ul Emilii Plater 49, International Bar Association, including the its Intellectual Property 00-125 Warszawa, Polska; contact Dr Szymon Kubiak +48 22 437 84 02; and Entertainment Law Committee and the Technology Law email [email protected]; web: http://www.ibawarsaw2012.com Committee. Among the topics considered will be international legal and UK regulatory strategies for fast-growing companies; issues facing multi- The Private Equity Transactions Symposium 2012 – 15 November 2012 jurisdictional start-ups; and company liquidity and strategies for Anyone embroiled in the world of private equity will be well aware exiting. Experts from venture capitalists to top international legal that trends and issues affecting the market cause almost continual professionals will offer expertise in three days of workshops and adjustments. This symposium will aim to analyse those trends, as other sessions. well as study the implications of new policies affecting the sector. Details: Rosewood Sand Hill Hotel and Resort, 2825 Sand Hill Road, Menlo Sessions will address recent updates in global financing markets Park, Silicon Valley, California, USA; contact Judith Hawkes +44 (0)20 7842 and the experiences of buyers and sellers involved in recent deals 0090; email [email protected]; web: http://www.int-bar.org and their capacity to address market volatility and risk. The emerging markets of Brazil, China, and India will also be addressed, as will the Poland issue of what enhanced tax and regulatory scrutiny could mean for The Central-Eastern Europe Regional Conference – 21-23 November, private equity lawyers. Warsaw, Poland Recent moves taken by tax authorities will also be addressed, with With the incorporation of the Visegrad Group – the Czech Republic, enhanced scrutiny characterised in the programme as a global threat Hungary, Poland and Slovakia – into the EU, a raft of distinct to the private equity industry. challenges and opportunities emerged. This conference will confront Details: The Langham Hotel, 1C Portland Place, London W1B 1JA; contact those issues head on, as well as the economic and legal challenges that Natasha Dullaway +44 (0)20 7842 0090; email Natasha.dullaway@int- have transpired as a result of the economic woes wracking the EU. bar.org; web: http://www.ibanet.org www.globallegalpost.com The Global Legal Post 12 October 2012 23 HOW DO YOU SUSTAIN GLOBAL BUSINESS IN REAL TIME?

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