Avis, which has annual revenue of $8.5bn, has conducted a detailed panel review that will see it move from using around 650 firms to a seven-firm global panel. The process was run by executive vice president and general counsel Michael Tucker and EMEA head of legal Gail Jones.
The panel bars its law firms from competing with each other for work and each firm has been given pre-determined areas of work. Eversheds, Reed Smith, Dentons and K&L Gates have secured spots for European legal work; three US firms have also been selected. The firms have agreed to a global blended rate. Source: Legal Business
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