Only 2 firms return to UK government’s new finance panel

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Only two firms have returned in the UK government’s revamped lineup of firms it will turn to for complex legal advice in finance matters.

Only Simmons & Simmons and Slaughter and May have been retained by Britain, according to Legal Week. The seven firms that debut on the panel are Ashurst, Berwin Leighton Paisner, Clifford Chance, Dentons, Freshfields Bruckhaus Deringer, Hogan Lovells, and Linklaters.

The firms that were previously on the panel but did not secure a spot are Addleshaw Goddard, Allen & Overy, Burges Salmon, Mills & Reeve, Nabarro (now part of CMS), Pinsent Masons, and Squire Patton Boggs.

The appointments run for a two-year period that began on 21 August, which can be stretched by two 12-month extensions.

The panel means £90m in business for the firms involved. Legal Week said the panel is not tiered so all of the firms chosen will provide all core specialties, including corporate finance, rescue, restructuring and insolvency, and investment and commercial banking.

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