NewLaw

Thai civil unrest closes firm doors, new boutique firm in Paris, and bonuses back on menu for Ken

Baker & McKenzie's London office is set to have managing partner Gary Senior in the top job for another three-year term following his recent re-election, reports The Lawyer. Senior has…

May 31, 2010 • By Lawyers Weekly

Baker & McKenzie's London office is set to have managing partner Gary Senior in the top job for another three-year term following his recent re-election, reports The Lawyer. Senior has already served two terms, one of which was marked by the effects of the global financial crisis, spoiling his plans to focus on growth. Senior's top priority for his new term will be driving "significant" increases in profitability.

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UK firm Kennedys will reward its top-performing lawyers with a nice little payout following a reversal of the firm's earlier decision to scrap year-end bonuses, reports legalweek.com. Senior partner Nick Thomas admitted he had "got it wrong" when he announced the firm would scrap its bonus scheme and instead implement a firm-wide pay rise. But in light of last year's turnover of £67.3million ($114.7 million), the firm will reward its highest billing fee earners.

Two partners from Thomas Cooper's Paris office have left the firm to start up a shipping boutique, reports The Lawyer. Peter Iglikowski and Lars Lewis founded Lewis & Co in May along with three other associates. The boutique firm will primarily advise on French and English law for shipping, international trade and insurance matters. Many of its clients operate in Francophone Africa.

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The civil unrest gripping Bangkok led the Thai Prime Minister to declare a government holiday between May 17 and May 21, forcing the temporary closures of several international law firms, including Baker & McKenzie, Herbert Smith, Linklaters and Mayer Brown, reports The Am Law Daily. A Linklaters representative told The Am Law Daily that limited transportation, along with the deteriorating political situation forced the firm to close to ensure its employees were safe.

Herbert Smith and Allen & Overy have advised oil and gas company Perenco on the formation of a £1.9 billon ($3.24 billion) reserve-based lending facility, reports legalweek.com. The facility will be the largest of its kind ever created and will allow the company to make new acquisitions and grow its current assets. Initially capped at £1.2 billion, the facility was provided by a consortium of banks including Societe Generale, BNP Paribas and Credit Agricole.