Patterson Belknap Webb & Tyler LLP’s employment law head, Lisa E. Cleary, was named co-chairwoman and managing partner of the firm. She succeeds Robert P. LoBue, who was co-chairman and managing partner, and joins William F. Cavanaugh Jr. as co-chairman.
U.K. service co. asked lenders to waive leverage covenant on its loans. * Request was made at lender meeting in London yesterday * Co. and owner Charterhouse Capital have hired Rothschild and Allen & Overy as advisers; Houlihan Lokey and Freshfields Bruckhaus Deringer are advising senior lenders * Information from a person familiar with the matter, who asked not to be identified because the deal is private * Gary Sunderland, the head of information resources at Charterhouse, declined to comment on the waiver and appointments * NOTE: Feb. 20: Co. breaches leverage covenant at December test date after ratio rises to 7.97x * NOTE: Jun. 7: Charterhouse paid GBP13m to lower co.’s debt ratio after ratio of debt to Ebitda reached 7.8x compared with 7.5x limit
Clifford Chance LLP and Allen & Overy LLP, two of the U.K.’s highest-grossing law firms, saw single- digit increases in both profit and revenue following expansions into emerging markets such as China, Turkey and Indonesia.