The Freshfields Podcast

In this episode, Lindsay Hingston and Alex Thomson dive into one of the most fiercely debated questions in European liability management: how far does the minority protection principle go? By reference to the expert opinion of Lord Neuberger and Dame Gloster — submitted as evidence in the ongoing Selecta litigation in New York — the team unpacks a fundamental disagreement between two of England's most eminent legal minds about the nature and reach of this principle under English law. With live cases keeping the issue firmly in play, this episode sets out what may become the bookends of the debate when it next reaches the English courts.

Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off."

Chi fa l'arbitro quando la partita riguarda la concorrenza? In questo episodio di Essential Antitrust – The Italian Voice guardiamo allo sport da una prospettiva diversa, esplorando il ruolo del diritto antitrust in un settore sempre più rilevante dal punto di vista economico. Dal caso Superlega alla recente sentenza ROGON, passando per il pattinaggio, il calcio europeo, le regole sugli agenti sportivi e i trasferimenti dei calciatori: analizziamo alcune delle decisioni che stanno ridefinendo i rapporti tra federazioni, club, atleti e organizzatori di competizioni, per capire come l’antitrust scende in campo quando si parla di sport.

Tune in to the latest episode of our EUnpacked podcast series, where we unpack the forthcoming revision of the EU Emissions Trading System (EU ETS) – the EU’s flagship climate policy and one of its most consequential regulatory frameworks for business. With the European Commission’s legislative proposal which has just been postponed for publication on 17 July. The debate is intensifying around key issues including the future pace of emissions reductions, reforms to free allocation, the role of carbon removals and international credits, and the possible extension of the system to new sectors. In this episode, Freshfields' EU Regulatory & Public Affairs Senior Consultant Karl Thies is joined by James Chapman, Partner in the firm's Energy and Infrastructure practice, and Stefan Schröder, Partner in the firm's Energy Regulatory practice, to discuss what the revision could mean for companies' investment decisions, competitiveness, and decarbonisation strategies in the years ahead.

In our latest episode of "No Worse Off," host Lindsay Hingston is joined by Amsterdam partner Michael Broeders and senior associate Huub Boekhorst for a deep dive into the Dutch restructuring market.

The Netherlands is one of Europe's most versatile restructuring jurisdictions - and this episode explains why. How does the WHOA compare to Chapter 11 and the UK scheme? How powerful is Dutch share pledge enforcement? Is the Dutch regime more receptive to LME transactions than elsewhere? They provide answers to all this and more, by reference to the leading cases including McDermott and Selecta.

Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off.

In this episode of Well-Caffeinated, host Tim Clark is joined by four Freshfields colleagues to examine one of the most significant trends impacting Private Capital today: the increasing focus on “retail” sources of capital for Private Capital investment strategies. Melissa Hodgman, David Nicolardi, Andrew Gladstein and Jeremy Barr unpack what it means for a Private Capital managers to add a retail component to its investor pool.  

The conversation covers the differences between the types of private funds traditionally managed by Private Capital managers and so-called retail funds, such as interval funds, tender offer funds and business development companies (BDCs); the different regulatory regimes applicable to retail funds as compared to traditional closed-end Private Capital products; and the risks associated with managing retail investors in open-ended funds versus institutional investors in closed end products. The panel addresses the areas of sharpest regulatory focus — valuation, liquidity, conflicts of interest, fees and distributions — before closing with practical guidance on how Private Capital managers should think about structuring their compliance programs and managing regulatory, litigation and reputational risks throughout the life cycle of a retail vehicle.

For additional context and resources related to today’s discussion, visit the referenced article on the retailization of Private Capital authored by the podcast panel.

Twelve months ago, Daniele Calisti, Head of Unit for Merger Policy and Case Support at the European Commission, joined us to discuss the launch of the Commission's public consultation on the revision of the EU Merger Guidelines. Now, with a draft text on the table, host Jenn Mellott welcomes him back — alongside economist David Foster of Frontier Economics and Brussels partner Thomas Janssens — to get the insider’s perspective on the most significant rewrite of EU merger control in over twenty years.

The conversation goes beyond the published text to explore the Commission's own thinking on the revamped efficiencies and "theory of benefit" framework, the new dynamic theories of harm, the differentiated evidential standard, resilience as a parameter of competition, and the Innovation Shield for acquisitions of small innovative companies. Whether you're a friend of the podcast or a new listener, you'll find everything you need in this episode to navigate the reform with confidence.

With the consultation closing on 26 June and the Commission already applying the new principles informally, this episode delivers the insight your deal team needs — directly from the source.

In questo episodio, analizziamo come il mercato del lavoro sia diventato un nuovo campo d’azione anche per l’enforcement antitrust in Europa e in Italia. Dalle recenti linee guida della Commissione Europea che contemplano anche gli accordi c.d. no-poach e wage-fixing, fino alle prime sanzioni in diversi Paesi del mondo, esploriamo come le pratiche che limitano la mobilità dei lavoratori stiano entrando nel mirino delle autorità della concorrenza.  

Activists are not monolithic and it is critical that companies today understand how activist types and styles impact engagement and campaigns. In this inaugural episode, Julian Pritchard and Leza Bieber are joined by Lauren Odell, Partner at Gladstone Place Partners to examine the nuances of engaging with first-time activists.

Moving beyond established funds, our experts analyze new entrants and the unique incentives driving their pursuit of market recognition. We explore why boards should treat every campaign with equal rigor and offer a specialized advisory lens on engaging with unconventional strategies designed to capture shareholder attention and bypass traditional communication channels.

The European Commission's draft merger guidelines land at a moment of real geopolitical flux — and its changes cut both ways. Scale, resilience, innovation and supply chain security are now embedded in the competitive assessment as key factors, and a new "theory of benefit" framework enables parties to argue efficiencies in novel and more comprehensive ways. At the same time, the Commission has equipped itself with a significantly expanded enforcement toolkit — from entrenchment and dynamic foreclosure to labour market effects and minority shareholdings.

In this episode of the Essential Antitrust podcast, Freshfields partners Jenn Mellott, Andreas von Bonin and Paul van den Berg discuss what has actually changed in practice: how the new innovation shield works for start-up acquisitions, where the new theories of harm create risk that deal teams need to plan for from day one, and what the expanded efficiencies framework means for how you build and present your deal to the Commission.

In our latest episode of "No Worse Off," we launch an exciting new series: Hot Topics. Host Lindsay Hingston is joined by Ken Baird, Freshfields' global head of restructuring, and senior associate Jamie Murray-Jones to introduce this fresh approach to exploring the world of restructuring.

This inaugural episode sets the scene for the series, which will take listeners across our international network, zooming into a different jurisdiction in each episode.  They discuss the intersection of international trends and techniques with local dynamics, and how this shapes the approach to cross-border restructurings.  

Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off."