JP Morgan and Morgan Stanley are among a roster of leading banks attempting to slash fee agreements with panel law firms. Both banks are known to have contacted preferred advisers within the last month with a view to securing a reduction in fees - thought to be up to 15% - going forward. Banks including Lloyds TSB and Deutsche Bank are also understood to be in discussions with legal advisers with fees thought to be a key consideration.
November 27, 2008 at 12:58 AM
1 minute read
The original version of this story was published on Legalweek
JP Morgan and Morgan Stanley are among a roster of leading banks attempting to slash fee agreements with panel law firms.
Both banks are known to have contacted preferred advisers within the last month with a view to securing a reduction in fees – thought to be up to 15% – going forward.
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