TCLA Vacation Scheme Applications Discussion Thread 2022-23

[Sachin Chandra]

Seeing a lot of Sidley PFO's....is it worth still applying?

I don't think it's rolling... Can someone please confirm this? I'm applying for the 27th Jan deadline

 

[bibss]

I don't think it's rolling... Can someone please confirm this? I'm applying for the 27th Jan deadline

Yes, Sidley is rolling basis

 

[Sachin Chandra]

Yes, Sidley is rolling basis

Ok, thanks for this information

 

[CorporateCrocodile]

Anyone heard anything from Milbank lol, their deadline was on the 8th

 

[lawstudent9]

Does anyone have advice for Latham VI please? Much appreciated as this is my first VI and I don't know what to expect!

re-posting this!

 

[user9809]

Anyone heard anything from Milbank lol, their deadline was on the 8th

Nope!

 

[Sachin Chandra]

Anyone heard anything from Milbank lol, their deadline was on the 8th

Nowt.

 

[Ameliaa]

Has anyone heard from Squire Patton Boggs?

 

[Ghana M.]

Hi guys! I had a bit of commercial question regarding the drop in M&A deals. We’ve seen how this affected Goldman Sachs, but what kind of effect will this have on law firms?

Some of the corporate teams at law firms handle M&A transactions, so it is the bread and butter for these firms. The reduced borrowing ability to finance the new acquisition and get these transactions done will likely hinder deal activity, and ultimately, there will be less revenue/profit for these firms. I hope this helps!

 

[Chouette]

Good afternoon!
Someone mentioned here that their DLA and FF portals change over time - where do you see those changes in the portal? Puzzled. Thank you!

 

[kokothemagicdragon]

Some of the corporate teams at law firms handle M&A transactions, so it is the bread and butter for these firms. The reduced borrowing ability to finance the new acquisition and get these transactions done will likely hinder deal activity, and ultimately, there will be less revenue/profit for these firms. I hope this helps!

I don't fully agree with this. While total deal flow has decreased and this has been reflected by the significant drop in the top IB's fees during the past year it doesn't necessarily mean that a law firm will see a dip in revenue. American acquirers still need London’s legal services. With the dollar growing stronger against both the euro and pound, and European company valuations decreasing due to socioeconomic uncertainty, now could be an opportune moment for law firm's American acquirers to cement themselves further in the European market. I therefore believe that this potential increase in American based deal flow would signal increased work for certain law firms. Not only is it probable that law firms would be asked to provide more in-depth due diligence checks to better securitise against risks, but with the FCA and EU tightening antitrust and competition laws, I imagine that both London and Brussels offices would be required to advise. Lastly, I think that full service law firms could use their advantage over other transactional shops as a full-service firms to utilise their practice groups such as tax, employment and environment to support their M&A practice. Overall, while global risk appetite falters, law firms can provide more in-depth due diligence to their clients, aid American acquirers by utilising their full-service identity (if they have one), and can even aim to act for the companies being acquired. One can also mention that the countereffect is a rise in Rx work for law firms.

 

[BeGrateful.101]

I don't fully agree with this. While total deal flow has decreased and this has been reflected by the significant drop in the top IB's fees during the past year it doesn't necessarily mean that a law firm will see a dip in revenue. American acquirers still need London’s legal services. With the dollar growing stronger against both the euro and pound, and European company valuations decreasing due to socioeconomic uncertainty, now could be an opportune moment for law firm's American acquirers to cement themselves further in the European market. I therefore believe that this potential increase in American based deal flow would signal increased work for certain law firms. Not only is it probable that law firms would be asked to provide more in-depth due diligence checks to better securitise against risks, but with the FCA and EU tightening antitrust and competition laws, I imagine that both London and Brussels offices would be required to advise. Lastly, I think that full service law firms could use their advantage over other transactional shops as a full-service firms to utilise their practice groups such as tax, employment and environment to support their M&A practice. Overall, while global risk appetite falters, law firms can provide more in-depth due diligence to their clients, aid American acquirers by utilising their full-service identity (if they have one), and can even aim to act for the companies being acquired. One can also mention that the countereffect is a rise in Rx work for law firms.

makes sense but what does 'rx' stands for?

 

[kokothemagicdragon]

makes sense but what does 'rx' stands for?

Restructuring (and insolvency)!

 

[thelastshah]

CMS Academy Offer!

Congrats! How was the AC?

 

[thelastshah]

congrats!! was this for summer?

Spring!

 

[SCM]

Macfarlanes AC!

 

[Equal_Rites]

Anyone heard from Trowers & Hamlins?

 

[Future Six Figure Fee Earner]

Anyone heard from Trowers & Hamlins?

They’re non-RB

 

[CorpLawyer00]

Macfarlanes AC!

Did you just get invited ?

 

[HopefulFutureTrainee123]

A firm wants two work referees. I have one who I'm currently working for, so I'll give their details. The second is one I haven't spoken to for a few months, so I am unsure if I can put them down right now (as I don't have permission). Can I leave one blank for now, and add details if the firm wants to contact my referees? The deadline is tomorrow, and I don't know if I'll get a reply before then. @Jessica Booker