The exact total of Slaughters’ takings were revealed in a freedom of information (FOI) request by The Times, which also discovered fee payments for other key advisers on the Hinkley Point C development. At £12m, Slaughters’ fees where almost three times of that handed to the project’s second highest-paid external adviser, Big Four accounting firm KPMG (£4.4m), and well above those of financial adviser Lazards (£2.4m) and management consultancy firm Leigh Fisher (£1.2m).
Law firms cash in
A suite of other big-name firms secured mandates in relation to the controversial project, including Clifford Chance, Herbert Smith Freehills, Pinsent Masons, Eversheds and Ashurst. Slaughters own team for advice to the Department of Energy and Climate Change has been led by financing partner Paul Stacey, banking partner Robert Byk, corporate partner Robert Chaplin and competition special adviser Jackie Holland. The £18bn Hinkley Point C development will be the first new nuclear power station in the UK in more than two decades, and was only given the go-ahead after months of deliberation and opposition from anti-nuclear groups and advocates. The development is expected to supply 7 per cent of the country’s energy needs and create around 25,000 jobs.
Source: Legal Week; Legal Business; BBC
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