Only nine firms will be included in the new Finance and Complex Legal Services Panel (FCLS), which is worth £90m based on tender documents, Legal Business said
. The last version of the panel included 24 firms.
The FCLS will operate for two years under the agreement, which can be stretched with two 12-month extensions. Applications end 12 June.
The refresh of the FCLS panel, which is expected to provide complex finance, capital finance, and regulatory capabilities, comes after the Crown Commercial Service’s (CCS) revamp of the government’s general legal advice panel. Announced in March, the general panel included only 18 firms, a steep reduction from the 40 the previous panel featured.
The previous complex projects panel was comprised of Addleshaw Goddard, Arthur Cox, Ashurst
, Bevan Brittan, Bircham Dyson Bell, Bond Dickinson, Browne Jacobson, Burges Salmon, Capsticks, CMS, Dentons
, DLA Piper
, Eversheds Sutherland
, Fieldfisher, Freshfields Bruckhaus Deringer
, Gowling WLG, Hempsons, Mills & Reeve, Nabarro, Pinsent Masons
, Simmons & Simmons, Slaughter and May, TLT, and Trowers & Hamlins.
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The UK government has launched the tender process for its renewed complex projects panel, reducing the roster by more than half.