Libel reforms in the UK, M&A work sees partner profits surge in New York and Franco-German transactions lure French firm Frankfurt, in this week's global legal round up.
Bill to bolster free speech
Britain's Justice Secretary Kenneth Clarke has unveiled a swathe of new proposals aimed at reforming libel laws in England and Wales and bolstering freedom of speech, reports Legal Week. The draft Defamation Bill sets out numerous changes to current defamation laws, including a requirement that claimants demonstrate "substantial harm" before a claim can be pursued.
UK firm secures Brazil hire
UK firm Harneys has become the second foreign firm to establish a solid foothold in Brazil, following in the wake of rival firm Conyers Dill & Pearman, reports The Lawyer. The firm announced the hire of Brazilian lawyer Maria Pia Buchi, who will become Harneys' business development head in the Latin American country. The move follows the opening of the firm's Uruguay office in December last year.
NY partners rake it in
Partner profits at elite New York law firms recovered well in 2010 after a surge in M&A and capital markets work, reports The Am Law Daily. Six Wall Street firms in the $2 million-plus partner profits (PEP) group saw profitability soar last year, including Paul Weiss Rifkind Wharton & Garrison, which saw PEP rise 15 per cent to $3.05 million.
CC partner quits Terra Firma
Former Clifford Chance managing partner Peter Cornell has announced he will be standing down from his position of chair of Terra Firma's advisory committee, reports The Lawyer. Cornell, who was managing partner of Clifford Chance from 2002 until 2006, will continue to work for the private equity house in the area of investor relations, although his exact job title is yet to be finalised.
French firm goes east
Independent French firm Lefevre Pelletier & Associes will soon launch its first German office following the hire of a Frankfurt tax partner from Marccus Partners, the legal division of UK consultancy Mazars, reports Legal Week. Guillaume Rubechi will become the managing partner of the firm's new Frankfurt office, specialising in Franco-German corporate transactions.