Dubai Invests in U.S. Hedge Fund Managers

Dubai Multi Commodities Centre, a branch of the government-controlled group Dubai World, is investing a whopping $250 million in five U.S. Hedge-fund managers. The five hedge funds will conduct business in accord with shariah, or Islamic law, which will greatly affect their financial strategies. For example, they will not be allowed to invest in alcohol-related companies, nor will they be able to sell what they do not own, which eliminates short selling from the equation. The five hedge-fund managers include: Tocqueville Asset Management, BlackRock Inc., Zweig-DiMenna International Managers, Ospraie Management, and Lucas Capital Management.

Source: www.online.wsj.com

Tags:  Dubai

Samsung Counsel Has Moved to Quinn Emanuel

Quinn Emanuel Urquhart Oliver & Hedges has snagged an in-house litigator from Samsung Electronics. John Kim, previously senior intellectual property litigation counsel for the company, has joined the firm’s Silicon Valley office. starting June 9th. Kim has an excellent academic record, having graduating Cornell University with a mechanical engineering degree, and having received his J.D. from American University Washington College of Law. http://www.law.com/jsp/ihc/PubArticleIHC.jsp?id=1202422258508

Tags:  Quinn Emanuel Urquhart & Sullivan, LLP

Big Name New York Partner Switches Firms

It is rare for partners at top New York law firms be the subject of lateral moves, but one attorney Witold Balaban is today. Balaban has been with Davis Polk since he graduated from New York University School of Law in 1993. He became partner in 2001. He now has a second law firm to add to his resume, that of Latham & Watkins. He will be joining the corporate practice.

Source: www.law.com

Tags:  New York

Baker Botts New To Palo Alto

Hoping to increase their intellectual property practice, Baker Botts has launched an office in Palo Alto. The office is to focus on the IP field, but when expanding, it will take on more attorneys and more areas of law. Mark Spolyar, previous private IP firm owner. and Baker Botts’ Christopher Kennerly, a patent litigator, are to run the show.

Source: www.triangle.bizjournals.com

Tags:  Baker Botts L.L.P. | Silicon Valley

Haynes and Boones Honored for Pro Bono Work

Haynes and Boone has been honored for its pro bono work and has received the W. Frank Newton Award. The firm worked for 7 years to free Alberto Sifuentes and Jesus Ramirez, two wrongly accused Mexican nationals. The two were convicted of a 1996 murder of a convenience clerk in Texas, despite there being much evidence supporting their innocence. The Mexican Capital Legal Assistance Project, funded by the Government of Mexico, asked Haynes and Boone for their help. They agreed and in 2002, partners Sarah Teachout, Ron Breaux, and Berry McNeil got to work. These attorneys, plus others, would end up putting in 7,493 hours, which in firm terms, is equivalent to about $2.35 million. With the firm’s hard work, these innocent two men were freed after serving 12 years in prison.

Source: www.earthtimes.org

Tags:  Haynes and Boone, LLP

Bird & Bird’s Profits Fly High

Bird & Bird has announced an amazing 24 percent increase in revenue. This makes them the fastest growing technology and media firms out of all 100 top UK firms. Their new profit reaches £143m, their highest in three years, as well as £27m more than last year’s figure. This grand increase appears to be the result of their international expansion, particularly in Eastern Europe and India.

Source: www.thelawyer.com

Tags:  Bird & Bird LLP

Climate-Control Practice Groups Are Hot

Sullivan & Worcester is jumping on the bandwagon of law firms that profit from global warming. They too have created a climate-change group to aid companies on resulting issues from global warming. According to a January survey by Bloomberg News, 20 of the top 100 US law firms have already created such a practice group. The list includes: Akin, Gump, Strauss, Hauer & Feld, Heller Ehrman, Sonnenschein Nath & Rosenthal and last, but especially not least, Baker & McKenzie, who created their climate-control group in the late 1990s.

Source: www.news.muckety.com

Ashurst Raises Newly-Qualified Salaries

Ashurst has raised pay for newly-qualified lawyers. The new figure, £65,000, is £1,000 more than last year’s. However, last year’s salary increase of 16 percent is significantly more than this year’s 1.5 percent. In 2007-2008, the firm made £323m in revenue.

Source: www.thelawyer.com

Tags:  Ashurst

Greenberg Bags Another

Greenberg Traurig has added attorney Justin B. Mead to its Miami office. He joins as partner in the tax practice group. Mead concentrates on federal income tax and large corporations, and places special focus on the energy industry. He was a partner at McDermott Will & Emery.

Source: www.businesswire.com

Tags:  Greenberg Traurig, LLP | Miami