The Freshfields Podcast

In this episode of the MedTech podcast, Freshfields partner Vinita Kailasanath and Cimbal Capital Group principal Derek Underwood talk about his experience at the intersection of life sciences and tech, developing trends, and innovation in the space.

In the latest episode of "No Worse Off," hosts Lindsay Hingston and Emma Gateaud review 2024's key legal headlines. This year-end special showcases legal milestones, team achievements, and landmark events that have transformed the restructuring landscape throughout the year. Stay tuned for more insights into the world of restructuring in 2025, and thank you for listening to "No Worse Off."

In this podcast series, the Freshfields People & Reward team discusses key topics in the executive reward space for publicly listed and private companies, including considerations for remuneration committees, transatlantic regulatory concerns, and the structure of specific incentive arrangements. In the fourth episode of this series, Applying Malus and Clawback in practice, partners Alice Greenwell and David Mendel discuss the ‘pointy end’ of malus and clawback – what happens when companies want to use malus and clawback, and how to address the employment and other legal issues that may arise.

On 01 December 2024 the new European Commissioner for Competition Teresa Ribera took office. A refreshed approach to competition policy has been tasked to her by President Ursula von der Leyen including tackling killer acquisitions, speeding up state aid and antitrust enforcement as well as a new approach to mergers that could help to boost the EU’s competitiveness. In this edition of the Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partners Meghan Rissmiller and Andreas von Bonin, as well as Natalie Pettinger Kearney, Head of EU Regulatory & Public Affairs, to discuss the next five years is likely to hold in terms of competition enforcement and policy.

Changes at the U.S. Securities and Exchange Commission (“SEC”) resulting from the 2024 election will have significant implications for the private funds industry. Tim Clark, Freshfields’ Global Co-Head of Private Funds and Secondaries, and David Nicolardi, a counsel at Freshfields and former SEC Branch Chief, discuss the expected impacts on SEC regulation, exams, and enforcement priorities related to private funds. Tim and David explore, among other issues, the Marketing Rule, ESG and DEI, and regulatory challenges posed by the growth of Artificial Intelligence (“AI”).

In our latest podcast episode of "No Worse Off," Freshfields partner Craig Montgomery is joined by colleagues Madlyn Primoff from New York, Kristina Weiler from Hamburg, and Mijke Sinninghe Damsté from Amsterdam for an in-depth look at how litigation risk impacts restructurings from start to finish. They delve into the complexities that arise in cross-border multi-process restructurings, focusing on key themes such as the role of expert evidence, privilege and discovery issues, and the timing of challenges across different jurisdictions. Stay tuned for valuable insights into anticipating and managing litigation risks throughout the restructuring process, and thank you for listening to "No Worse Off."

The UK Chancellor of the Exchequer, Rachel Reeves, has delivered the Autumn Budget 2024. In the first Budget delivered by the Labour Party since 2010, Reeves announced an extensive array of tax reforms designed to 'stabilise' public finances and facilitate increased government spending.  Altogether, tax rises totalling £40 billion were announced - some expected, others less so. In our latest podcast Peter Clements, Sarah Bond, Rose Swaffield, Josh Critchlow and Chris Gotch from our London tax team discuss the tax measures they found the most noteworthy in the Autumn Budget 2024, including: Headline Budget announcements, including: increases in the capital gains tax (CGT) main rates and reforms to business asset disposal relief and investors' relief, accompanied by anti-forestalling measures;an increase in employer National Insurance contributions by 1.2% from April 2025; andan increase in the CGT rates for carried interest from April 2025, with more significant reforms expected to follow; Publication of the Corporate Tax Roadmap designed to provide stability for businesses and foster inward investment, including: capping the headline UK corporation tax rate at 25%;confirmation the permanent 'full expensing' capital allowance regime and existing R&D reliefs will be retained; andplans to provide increased tax certainty to investors in major projects; Measures designed to 'close the tax gap', including: an increase in the interest rate for unpaid tax;targeted anti-avoidance measures applying with immediate effect; andthe recruitment of additional HMRC compliance and debt management staff; and Other changes to the UK's tax code, including: confirmation the UK will introduce the Pillar Two undertaxed profits rule (the 'UTPR') for accounting periods from January 2025, along with the related repeal of the offshore receipts in respect of intangible property (or 'ORIP') rules;the replacement of the remittance basis of taxation for non-UK domiciled individuals ('non-doms') with a new residence-based regime; andconfirmation of increases to the rate and duration of the Energy Profits Levy and the removal of the associated investment allowance.

On October 10, 2024 the US Federal Trade Commission (FTC) and the US Department of Justice (DOJ) issued a final rulemaking implementing the most significant update ever to the US HSR merger control filing. While these changes won’t be effective until the end of January 2025 at the earliest, understanding now how tackle new features such as expanded document requirements and new substantive narratives will position companies and dealmakers alike to hit the ground running.  In this edition of the Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partners Mary Lehner and Bruce McCulloch, as well as Sebastian Fain, Global Transactions partner, to discuss the key changes that parties will have to contend with starting in early 2025.

In our latest podcast episode, Freshfields partner Lindsay Hingston and Senior Associate Alex Thomson are joined by Georgina Peters, Barrister at South Square, for a further look at of Liability Management Exercises (LMEs). They examine how LMEs might be shaped by different legal regimes, with a particular focus on potential issues under English law. Stay tuned for more insights into the world of restructuring and thank you for listening to “No Worse Off”.

As we enter the final stretch of the set up of a new European College of Commissioners, tune into our latest EUnpacked podcast to hear insights from our policy team on the ground in Brussels. Together they discuss what the new Commission structure reveals about what lies ahead, who are likely to be the big personalities driving forward policy and legislation, and what steps remain to be taken before they take office later this year.

Over the past few years, the function and scope of private credit within financial markets has increased greatly. As private credit funds play a greater role in activities traditionally undertaken by banks, they are attracting growing scrutiny from both regulators and governments who are concerned about heightened risks to the financial system. In this special podcast, a selection of senior Freshfields lawyers from different jurisdictions explore the increasing regulatory scrutiny of private credit across the world. Matt O'Callaghan, a partner in the firm’s Hong Kong office and head of the financial services regulatory team in Asia, hosts an insightful discussion featuring Nariné Atamian from Freshfields in New York, Greg King in London, and Theresa Kreft in Munich, in which they look beyond the headlines and share their perspectives on the changing regulatory landscape.

In our latest podcast episode, Freshfields partner Lindsay Hingston hosts a candid discussion on the subject of women in restructuring, featuring Katharina Crinson, counsel at Freshfields, and Jo Hewitt, managing director at Alvarez & Marsal. Drawing on personal experience as well as insights from Katharina and Jo’s former and current leadership roles for the London chapter of the International Women's Insolvency and Restructuring Confederation (IWIRC London), they explore their career journeys in a field where women are still under-represented, the importance of gender diversity, and strategies for promoting an inclusive industry. Stay tuned for more insights into the world of restructuring and thank you for listening to “No Worse Off”.

The sixth episode of our restructuring podcast series, No Worse Off, which provides legal and commercial insights, and practical tips, on the world of restructuring. Liability management has become a key strategy in the US distressed markets as the restructuring community seeks alternatives to bankruptcy.  These transactions can enhance liquidity, restructure debts, and extend runway via an out-of-court process. In this episode, we are bringing together our experts from our London, New York and Hong Kong offices to discuss the nuances of liability management, the opportunities it presents for creditors, and its potential for growth in European and Asian markets. Stay tuned for more valuable discussions and expert advice in the upcoming episodes of “No Worse Off”.

Two years have elapsed since the introduction of new vertical block exemptions and guidelines in the EU and the UK. Since then, the European Commission has imposed the highest record fine on file for unlawful territorial restrictions imposed by a supplier on its resellers, in contravention of EU competition law. On the opposite side of the Atlantic, key developments in the US include increased enforcement of vertical restraints by US antitrust agencies. In this episode of our Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partners Charlotte Colin-Dubuisson, Meghan Rissmiller and Al Mordaunt to discuss recent enforcement trends in the EU, the UK, the US and Asia.

The healthcare industry is one of the most vulnerable sectors to cybersecurity risk. In this episode of the MedTech podcast, Freshfields partners Vinita Kailasanath and Brock Dahl explore some recent examples of credible threats to the industry and how companies can implement technological innovation to help mitigate these risks.

In this second episode of our EUnpacked podcast series that looks at key hot topics being tackled in Brussels, podcast host Natalie Pettinger Kearney is joined by her colleagues Léa Bareil and Victor Garcia Lopez to talk about the EU elections and what it means in terms of the outlook for business.

The fifth episode of our restructuring podcast series, No Worse Off, which provides legal and commercial insights, and practical tips, on the world of restructuring. The cross-border restructuring landscape has transformed in recent years, with the introduction of the UK restructuring plan and the arrival of similar, Chapter-11 inspired processes in jurisdictions across Europe. This has driven a rise in cross-border restructurings which use processes in multiple jurisdictions to deliver the restructuring – as in the recent Cimolai, Vroon and McDermott restructurings. In this episode, we are bringing together a panel of our experts from across Europe and the US to discuss the rise of these multi-process restructurings. The panel will explore both the opportunities these multi-process restructurings present to deliver restructurings that otherwise would not be possible, and the complexities and pitfalls to watch out for.

Two former CFIUS Chairs discuss Treasury’s recently released draft rules and impending U.S. capital controls. In this episode of our Essential Antitrust podcast, host Jenn Mellott is joined by Freshfields’ Aimen Mir and Brian Reissaus to analyze some breaking news out of the U.S. Department of the Treasury: draft rules operationalizing controls on outbound investment. Though targeted at China, the rules generate new risks and potential consequences for U.S. investments in Chinese companies or in companies and funds that themselves have operations or investments in China.

The geopolitical climate involving the US-China relationship has created opportunities in Southeast Asia, leading many businesses to look to Southeast Asia for growth. The region’s GDP growth is forecasted to reach 4.6% in 2024 and 4.7% in 2025, and businesses are keen to capitalise on its growth potential. In this episode, Ninette Dodoo, an antitrust partner in our Asia antitrust practices, discusses the opportunities and challenges in Southeast Asia with partners from our Singapore office - Simon Weller, Jon Bowden and Samantha Tan - and Eric Johnson, a partner based in Vietnam. Join our panellists for some on the ground insights on recent legal and business trends in the region, including in disputes and arbitration.

Keeping you up to date on executive compensation matters. In this podcast series, the Freshfields People & Reward team discusses key topics in the executive reward space for publicly listed and private companies in 2024, including considerations for remuneration committees, transatlantic regulatory concerns, and the structure of specific incentive arrangements. In the third episode of this series, Next Stop: CSOP, partner David Mendel and senior associate Nicola Jones cover all things related to tax favoured company share option plans, also known as CSOPs. David and Nicola discuss the recently increased flexibility of these share plans, and their attractiveness to companies, including in the private capital space, who are looking to incentivise key employees in their workforce.