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Latest Briefings

FCA opens notifications for temporary permissions regime in case of no-deal Brexit

By François Pfister, Anne-Gaëlle Delabye In order to ensure that investment funds that are currently marketed in the United Kingdom under the European Economic Area (EEA) passporting regime continue to be able to do so in the event of there being no implementation period based on the withdrawal agreement after 29 March (no-deal Brexit), the […]

Changes in the procedure for admission of foreign medical devices and medicines to public procurement in Russia

On 1 January 2019, amendments to the Resolution of the Government of the Russian Federation No. 102 of 05.02.2015 that provides for restrictions and conditions for the admission of certain types of medical devices originating from foreign countries for the purpose of procurement for state and municipal needs (“Resolution No. 102”). And the Resolution of […]

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Simpson Thacher cuts associate bonuses

Simpson Thacher & Bartlett has joined the growing number of US firms that are cutting associate bonuses this year. The firm has halved bonuses for the 2008 financial year and is understood to have abandoned special bonuses. Last year junior lawyers received a bonus of $35,000 but this year the figure has dropped to $17,500. […]

Hammonds promises layoffs are a ‘one-off’

Hammonds chief Peter Crossley has vowed that there will be no more redundancies at the firm once the current consultation affecting 95 staff is completed. Crossley told The Lawyer: “This is a one-off. It’s ­unfortunate that we have announced the consultation, but we’re taking a ­considered and pessimistic view of the next six months.” The […]

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Magic circle takes prudent approach to US bonuses

Magic circle firms have vowed to take a conservative approach to this year’s round of US associate bonuses as economic conditions continue to worsen. The US managing partners of Allen & Overy (A&O) and Freshfields Bruckhaus Deringer highlighted financial prudence as a key factor in setting year-end bonuses, adding that it is also important to […]

Davis Polk advises Citigroup on US government bailout

Davis Polk & Wardwell has scored another credit crunch-related mandate, advising US bank Citigroup on its $20bn (£13.4bn) government bailout. Davis Polk partners Gar Bason, Randall Guynn, Louis Goldberg and Avishai Shachar are leading the team acting for the bank. Cleary Gottlieb Steen & Hamilton is advising the US Treasury on the deal. The move […]

Hammonds faces former partners in High Court

Hammonds was up in the High Court today for a £3m profit dispute hearing with former partners. Hammonds attended the High Court today for a £3m profit dispute hearing that will determine whether the firm’s managing partner Peter Crossley (pictured) will become embroiled in the case. The case management conference, which is set down for […]

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