The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Allen & Overy has won one of the biggest insolvencies this year, with Barclays instructing it on the receivership of Independent Energy.
After billing problems, Independent Energy collapsed with a bank debt of £165m on 8 September, despite having reached a market capitalisation of £1.3bn in the spring. It is the largest receivership in the UK since TransTec in December 1999.
"It was a complex job, especially the interrelationship with the other electricity companies," says A&O partner Francis Bridgeman. The A&O team advised Roger Oldfield of accountancy firm KMPG on the receivership, and continues to advise on ongoing issues.
Independent Energy has been sold out of receivership to Innogy, the demerged UK part of National Power, advised by a Linklaters & Alliance team led by banking and restructuring partner Robert Elliott.
Herbert Smith acted for the regional electricity companies and was instructed by Northern Electric.
Stephen Gale, who led the corporate recovery team at Herbert Smith, says: "This is clearly of significance. If one reason why Independent Energy went down was difficulties with collecting revenue, then it needs to be addressed. It's for the receivers to discuss that with the industry, which includes regional distributors as well as generators."