Virgin Group kicks off review of legal panel
Virgin Group has launched a review its legal panel, which currently runs to eight firms, ahead of possible changes to the roster.
November 12, 2013 at 11:29 AM
2 minute read
Virgin Group has launched a review its legal panel, which currently runs to eight firms, ahead of possible changes to the roster.
A Virgin spokesperson said the group reviewed its panel arrangements every two years "to determine whether there are any issues that require particular attention and that may prompt a fuller review of sections or all of the panel".
Firms on the group's panel include Allen & Overy, Herbert Smith Freehills and Macfarlanes.
Bird & Bird, Burges Salmon, Bond Dickinson, Dentons and Harbottle & Lewis complete the roster, which mainly applies to UK legal matters.
The Virgin Group includes subsidiaries Virgin Atlantic, Virgin Money and Virgin Active.
At the end of last year HSF, Simpson Thacher & Bartlett, Norton Rose and Shearman & Sterling were among a host of firms that advised on Delta Air Lines' $360m (£223m) acquisition of a stake in Virgin Atlantic.
The deal saw Delta take a 49% stake in Richard Branson's transatlantic carrier from Singapore Airlines, alongside a joint venture between Virgin and Delta, and a revised brand licence with the Virgin Group. Virgin Atlantic was represented by Herbert Smith in London, Simpson Thacher in New York and US firm Holland & Knight in Washington.
Also last year, Virgin Media general counsel Scott Dresser resigned from the company, just over 18 months after his promotion to the top legal role.
During his stint as GC, Dresser oversaw the appointment of Virgin Media's debut legal panel, which saw places handed to Linklaters, Latham & Watkins and Sullivan & Cromwell as well as existing advisers Ashurst and US firm Fried Frank.
In addition to the main roster, which advises the company on corporate, finance and M&A and supports its in-house legal team, a raft of firms including Simmons & Simmons, Baker & McKenzie and Reed Smith were appointed to provide commercial, industry, employment and regulatory advice.
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