Herbert Smith Freehills advises on record-breaking loan deal
Herbert Smith Freehills has advised a group of 23 international banks on what is believed to be a record-breaking loan deal. The U$5 billion reserve loan for Lundin Petroleum reportedly beats previous similar deals for an upstream oil and gas firm in the Europe region. The team were led by London partner Thomas Bethel. Lundin was advised by Ashurst.
Regulators, professional bodies should be separate says survey
A survey of adults in England & Wales has found that 82 per cent of respondents believe that lawyers’ regulators should be separate from their professional bodies. The poll, conducted by ComRes, found that independent regulation would be more trusted by 68 per cent and 77 per cent support the UK government’s attempts to do so.
Promotion for Melbourne lawyer at Corrs
Alan Colman has been promoted to partner at Corrs Chambers Westgarth in its workplace relations team. Colman was with Herbert Smith Freehills for 13 years and spent six years at the European Bank for Reconstruction and Development and initially joined Corrs as a consultant.
Singapore’s Big Four dominate rankings
The Big Four law firms in Singapore have once again topped the Chambers Asia Pacific rankings for the city state. Allen & Gledhill ranked in Band 1 in 13 categories; Rajah & Tann and WongPartnership had 7 Band 1 rankings each; Drew & Napier has five. Asiaone.com reports that WongPartnership has become the first law firm to tie with Allen & Gledhill in Banking & Finance (both with Band 1).
Yahoo in discrimination lawsuit
The internet firm Yahoo has been accused of discrimination by a former employee. The New York Times
says that the lawsuit, filed this week, alleges that Yahoo wrongfully terminated the employment of Gregory Anderson, a former editor of a number of its sites. Anderson claims that the whole performance review system operated by the company is discriminatory and is a violation of both California state and federal laws. He says that the company is required by law to provide workers who are being laid-off a 60-day notice period but that it was not given. If the allegations are proven then Yahoo could face a fine of $500 plus back pay and benefits in lieu of the notice for more than 1,000 employees who lost their jobs.