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The U.K. Bribery Act arrived this summer in a hail of publicity. But that act won't move mountains without a change in Britain's legal structure. "There's a real need [in the U.K.] for a middle ground between full-on criminal prosecution and civil recovery," said the former U.K. corruption prosecutor Matthew Cowie, now with Skadden, Arps, Slate, Meager & Flom.
Since 1993, Winston & Strawn's Thomas Buchanan has led the charge in an epic shareholder battle with the federal government over the FDIC's seizure of Meritor Savings Bank during the savings and loan crisis. It's finally over--almost.
Associates React to Jones Day and Weil Gotshal Salary Raises
Jones Day and Weil, Gotshal & Manges have joined the list of law firms paying California first-year associates $160,000 rather than the $145,000 embraced by most homegrown firms. And now California's associate messageboards are crammed with anonymous young lawyers carping about their firms' failure to match the higher New York scale. But many associates accept the idea that New York and California are distinct markets -- and some would like to keep it that way.Will Glass-Steagall Really Fall?
As the House began debating a bill on July 1 to modernize the financial services industry, it appeared that Congress, weary of 20 years of failure, was moving to allow banks, securities firms and insurance companies to merge with one another. The Senate approved similar legislation on May 6. Assuming that, as expected, the House does the same by July 2, it will be the first time that both chambers voted to break down the walls of the 1933 Glass-Steagall Act.Shareholders' lawyers will get to see whatever the bank has turned over to Congress, the SEC, the New York attorney general, and other investigators--including, most likely, the communications between BofA and its lawyers that have already been turned over to the government.
Rogers Deal Could Lead To More Mergers
The just-announced merger of two big law firms in the United States and Britain should lead to more trans-Atlantic link-ups--but not of the biggest firms--top lawyers on both sides of the Atlantic say.Mergermarket Ranks Europe's Most Active Deal Lawyers of 2007
Clifford Chance Dusseldorf competition partner Marc Besen and Linklaters U.K. private equity partner Richard Youle have been named as Europe's most active deal-doers for 2007, according to Mergermarket. Individual rankings produced for Legal Week rank the top 10 legal advisers in European M&A, with lawyers from American, British, Dutch and Italian firms handling billions of dollars in deal work.State AI Legislation Is on the Move in 2024
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