Morgan Stanley and Lehman Brothers will lose a controversial $15m (€18m) success fee if Versatel, the struggling Dutch telecom company, fails in its unpopular debt buy-back.

Bondholders were furious that Versatel agreed to pay a up to €19m in fees to Morgan Stanley and Lehman Brothers for advice on the buy back that is asking investors accept more than €1bn of losses.

Lehman and Morgan Stanley to lose $15m Versatel bonus

Jeremy Adams in New York

Morgan Stanley

Wanted: Top lawyers for FN’s legal list

Coming soon: Black leaders in finance tell their stories

A&O Shearman boss Hervé Ekué confirmed as guest speaker for FN networking event

Artemis names ex-Man GLG boss Johnston as next CEO

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Teun Johnston will take over from Mark Murray, who leaves in the summer after 28 years with the fund house

SJP hires ex-Aberdeen marketing boss Rob Sanders as chief client officer

https://images.fnlondon.com/im-12469782?size=1.58

CEO Mark FitzPatrick continues to overhaul the wealth manager’s leadership team a year after taking the helm

Coutts’ Camilla Stowell joins Rathbones as wealth CEO

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Stowell, who survived the Nigel Farage debanking scandal, will lead Rathbones’ investment management and financial planning divisions

The administration improperly targeted the firm based on its clients’ political positions, according to a court ruling.

Judge Halts Trump Order Targeting Law Firm Perkins Coie

Behind closed doors, business leaders air plenty of their concerns about the administration and its policies.

CEOs Don’t Plan to Openly Question Trump. Ask Again If the Market Crashes 20%.

Europe would pack a strong punch if it were forced to defend itself against Russia without the U.S., American military brass and officials who have served across the Atlantic say.

How Europe’s Military Stacks Up Against Russia Without U.S. Support

Kyiv has seized the diplomatic initiative but Russia retains the advantage on the battlefield, having chewed through Ukrainian land.

By Matthew Luxmoore, Michael R. Gordon in Shannon, Ireland, and Jane Lytvynenko in Kyiv 

Ukraine Turns Tables With Cease-Fire Proposal, but Putin Has Little Incentive to Sign

Ukraine Turns Tables With Cease-Fire Proposal but Putin Has Little Incentive to Sign

A skirmish for talent at Wall Street’s elite law firms continues with this latest shake-up.

Paul Hastings Hires Top Kirkland Dealmaker to Lead M&A Practice

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