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  • Will an annual risk assessment audit become essential for a listed company? Eversheds partners Robin Johnson and Jonathan Sinclair argue that the Turnbull report* will create such a role for lawyers
  • Pillsbury Madison & Sutro, a San Francisco firm, has lost its executive director, a substantial group of compensation and benefits lawyers, and has had to fire another nine partners.
  • Eversheds’ associated Bulgarian office in the capital Sofia is to have a full time English qualified lawyer based there. Until now the UK firm has been represented in the jurisdiction by local firm Georgiev Todorov & Co, which has 32 lawyers.
  • Over 50% of UK law firms would consider forming a multi-disciplinary partnership (MDP) in the next five years. Accountants are the preferred partners, followed by barristers’ chambers.
  • UK firm Denton Hall has opened an office in Almaty, Kazakhstan.
  • A senior Chinese official has confirmed that the country’s expected future membership of the WTO will lead to a relaxation of restrictions on foreign law firms. In particular, the rule that firms may open only one office would be dropped, but joint ventures between local and foreign firms will not be permitted.
  • As the Czech Republic concentrates on getting privatization right — at the second attempt — lawyers can look forward to a glut of banking and M&A work. Rob Mannix reports
  • The $920 million sale in November of a 15% stake in state telecoms company TPSA doubled the capitalization of the Warsaw exchange overnight and affirmed the new government’s commitment to privatization. Ben Maiden reports as lawyers compete for further deals in banking, airlines, oil and steel
  • Pillsbury Madison & Sutro, a San Francisco firm, has lost its executive director, a substantial group of compensation and benefits lawyers, and has had to fire another nine partners.
  • New York-based firm Paul, Weiss, Rifkind, Wharton & Garrison has appointed a firm chairman for the first time, with the aim of focusing on long-term issues and studying international opportunities. Alfred Youngwood, who is both chair of the firm and chair of the firm’s management committee, reveals that the first option being considered is a London office.