A&O and Clifford Chance complete magic circle departures from Moscow

Host of prime worldwide corporations have shuttered workplaces in response to invasion

Moscow, Russia

Magic circle duo Allen & Overy (A&O) and Clifford Chance have confirmed they may “wind down” their Moscow workplaces in mild of Russia’s devastating invasion of Ukraine.

A&O, which beforehand introduced it was reviewing its “Russia-related portfolio”, stated the transfer can be managed according to all authorized, regulatory and skilled obligations.

An announcement from the agency learn: “This was not an easy decision to make as we have 55 people there and we needed to make sure that we could take this action with their best welfare in mind. We are very grateful for their hard work over many years.”

It added:

“We are doing everything we can to support and where possible will redeploy them to work elsewhere, in particular with other A&O offices as we continue to help those clients we can and choose to work with through this difficult transition period.”

Clifford Chance, in the meantime, stated it had begun “an orderly wind down” of its operations in Moscow. This follows its announcement final week that it could “not accept new mandates from any Russian state entity, Russian state-owned enterprises or individuals identified as having close connections to President Putin”.

The selections imply no members of the magic circle can have an workplace in Russia, after Freshfields and Linklaters made related bulletins earlier this week. Slaughter and Could doesn’t have an outpost within the nation.

Different corporations to shut their workplaces in Russia in response to the invasion embrace Bryan Cave Leighton Paisner, Eversheds Sutherland, Gowling WLG, Kennedys, Herbert Smith Freehills, Norton Rose Fulbright and Squire Patton Boggs.



Source link