UK Government...particularly in relation to tax and insurance and the accounting treatment desired....
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UK Government February 2018 Strictly private and confidential
Transcript of UK Government...particularly in relation to tax and insurance and the accounting treatment desired....
UK Government
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Strictly private and confidentiaFebruary 2018
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Core strengths With over 25 years' experience of advising Central Government Departments on more than 50 major
transactions with a combined value of over £100 billion, we help our UK Government clients turn
policies and objectives into contracts, to complete high profile, complex and innovative transactions
efficiently and effectively and to deliver transformative projects.
We continuously seek out efficiencies in the delivery of legal services without compromising the
quality of our advice and ensure that our understanding of our clients and their objectives remains at
the highest level. In particular, our firm’s has a long standing focus on five key industries of relevance
to UK Government business – Financial Institutions, Asset Management & Investment Funds, Media
& Telecommunications, Life Sciences, Energy & Infrastructure. Our deep understanding of these
important industries enables us to provide genuine market insight to better help shape strategic
decisions.
The Group has around 60 lawyers (22 partners and 38 associates/consultants) experienced at all
levels of seniority in acting on UK Government matters.
Our services We undertake contentious and non-contentious work, acting for a broad range of government
agencies including ministerial and non-ministerial department UK departments, executive agencies,
and non-departmental public bodies, public corporations and their subsidiaries which are sponsored
by Central Government Department. We also act for sponsors, contractors, banks, regulators and
other stakeholders in the supply of goods and services where the public sector is involved.
“Simmons & Simmons has been superb, every inch of the way.”
Ministry of Defence
Expertise in practice Our lawyer’s key experience included advising:
Asset Finance
MoD on the financing of the RAF’s Future
Strategic Tanker Aircraft (FSTA), one of the
most innovative and complex aircraft
financing deals put together in 2008;
Government on a series of aircraft financing
procurements within the overall framework
of the UK Military Flying Training System.
This involved the acquisition of Hawk;
Beechcraft; Grob; Embraer; and Airbus
aircraft financed through an innovative
“wrap direct agreement” mechanism
enabling flexible and incremental acquisition;
Transport for London/London Underground
Financial Services, Market and Competition Regulation
We are currently advising a number of the
world’s largest institutions on their strategic
Brexit planning across our European practice
as well as feeding into the HM Treasury
process looking at licensing issues, ongoing
cross border business, governing law and
jurisdictional issues. We are advising these
firms on which jurisdictions they may set up
new entities in, the impact on their
documentation and people and ongoing
continuity of contracts. These are projects
which are being discussed at the highest
levels within these organisations and across
“The excellent support to the Committee was hugely appreciated and they showed the greatest commitment to removing the difficulties in the way of a robust and timely conclusion.”
Hogg Tendering Advisory
Committee
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Limited on the financing of two Tamping
machines and on the financing of a rail
based system for the transportation and
installation of pre-assembled P&C modular
elements for E2 Gauge;
Corporate Finance
MoD on the sale of its trading fund, the
Defence Support Group, the main provider
of maintenance, repair and overhaul services
of Army vehicles to MoD employing
approximately 2,400 civilian staff, and a
major and complex service provision
contract;
advising BIS on the proposed £28bn merger
between BAES and EADS. The potential
combination was proposed to be
implemented through the creation of a dual
listed company structure, under which both
the UK and Dutch companies would operate
as one group by means of equalisation and
other agreements but would be separately
listed on their existing exchanges. After
discussions, BAES and EADS announced their
decision to terminate the proposal;
Department of Health on the design/delivery
of the global Dementia Discovery Fund, the
world’s first venture capital fund for
innovative pre-clinical research into curing
and treating dementia;
UK Green Investments (the first private
sector co-funded ‘green’ investments), and
the Energy Technologies Institute, a not for
profit public/private partnership to research
lower carbon energy to tackle climate
change;
their European businesses which provides us
with exposure and providing advice to the
senior stakeholders and decision makers to
provide a huge insight into the impact on
the UK market as well as on the individual
institutions
High Value or Complex Transactions and Disputes in Regulated Markets / Environments
Department for Transport on HS2, including
the negotiation of the HS2 development
agreement and on governance of HS2 Ltd;
British Business Bank in its consultancy role
for HM Treasury under The Small and
Medium Sized Business (Finance Platforms)
Regulations 2015;
MoD in relation to the Logistic Commodities
& Services Transformation (LCS(T)) project,
involving the procurement of all non-
explosive commodity items, the inventory
management and the storage and
distribution of such items together with all
other non-explosive stock across the MoD.
We advised the Nuclear Decommissioning
Authority (NDA) on its litigation strategy
after Energy Solutions’ (ES) successful High
Court procurement challenge, involving
sophisticated procurement law advice and
litigation and contractual advice, over three
related mandates by the NDA Board and
Government on the settlement of litigation
and the termination and renegotiation of
the contract for the management and
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decommissioning of 12 redundant Magnox
sites.
High Value or Complex Merger and Acquisition Activity
legal adviser to the Hogg Tendering Advisory
Committee for LIBOR alongside HM Treasury
Legal Advisers. We worked with HM Treasury
and the FCA to support the Committee.
Although there was no precedent for this
work. We provided clear, robust and
constructive advice to the Committee and
facilitated the Committee’s final
recommendations, as between the BBA and
the NYSE entity and through the
announcement of the new administrator, in
an orderly way over a very short timescale.
Insurance and Reinsurance
we acted for the British Business Bank (BBB)
and Government on the establishment of
the former. We looked at the regulated
activities that the BBB might be undertaking
and considered their implications,
particularly in relation to tax and insurance
and the accounting treatment desired.
Credit/Bond Insurance
advising the British Business Bank in relation
to its ground-breaking ENABLE guarantee
project to stimulate lending to SMEs in the
UK. We provided strategic advice, applying
our extensive experience of risk transfer
structures across a range of specialist areas
to create a guarantee which ensured an
efficient use of public money and, through
our tax advice, ensured the transaction was
not subject to £3.25M of insurance premium
tax.
elexica.com is the award winning online legal resource of Simmons & Simmons© Simmons & Simmons LLP 2018. All rights reserved, and all moral rights are asserted and reserved. This document is for general guidance only. It does not contain definitive advice. SIMMONS & SIMMONS and S&S are registered trade marks of Simmons & Simmons LLP. Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to simmons-simmons.com/legalresp
Simmons & Simmons LLP is a limited liability partnership registered in England & Wales with number OC352713 and with its registered office at CityPoint, One Ropemaker Street, London EC2Y 9SS. It is authorised and regulated by the Solicitors Regulation Authority.
A list of members and other partners together with their professional qualifications is available for inspection at the above address. B_LIVE_EMEA1:4620688v5
Key international contacts Key contact biographies can be viewed at simmons-simmons.com
Charles Mayo Partner Corporate T +44 20 7825 3691 E [email protected]
Piers Summerfield Partner Capital Markets T +44 20 7825 3181 E [email protected]
Helen Hancock Partner Banking T +44 20 7825 4496 E [email protected]
Jeremy Arscott Partner Banking T +44 20 7825 2085 E [email protected]
Juliet Reingold Partner Energy Natural Resources, Infrastructure Projects T +44 20 7825 3013 E [email protected]
Penny Miller Partner Financial Services T +44 20 7825 3532 E [email protected]
Richard Dyton Partner, Energy Natural Resources, Infrastructure Projects T +44 20 7825 4203 E [email protected]
Chris Horton Partner Corporate T +44 20 7825 3034 E [email protected]
Simon Moore Partner Energy Natural Resources, Infrastructure Projects T +44 20 7825 3188 E [email protected]
Ed Crosse Partner Dispute Resolution T +44 20 7825 2072 E [email protected]
David Williams Partner Financial Services T +44 20 7825 4175 E [email protected]
Mark Carroll Partner Corporate T +44 20 7825 3581 E [email protected]
David Toole Partner Capital Markets T +44 20 7825 3338 E [email protected]
Pollyanna Deane Partner Dispute Resolution T +44 20 7825 4303 E [email protected]
Matthew Pitman Partner Financial Services T +44 20 7825 4629 E [email protected]
Richard Cook Partner Banking T +44 20 7825 4482 E [email protected]
Simon Ovenden Partner Capital Markets T +44 20 7825 4663 E [email protected]
John Sayers Partner Banking T +44 20 7825 3618 E [email protected]
