The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
A&O acted for longtime client Nationwide Building Society, which struck a deal with the Government to take over Dunfermline’s branches, deposits and some of its loan book. Corporate finance partner Alistair Asher led the A&O team.
The Bank of England, which used new powers to prevent Dunfermline from collapsing after posting a £26m loss, turned to Freshfields.
Dunfermline instructed Dundas & Wilson, led by head of retail financial services Philip Mackay. The building society recevied advice on English matters from Addleshaw Goddard partner Ian McIntosh.
The Treasury, represented by Slaughter and May partner George Seligman, has taken on £1bn of risky mortgage debt as part of the rescue package.
A separate Freshfields team advised KPMG, which had been appointed as the company’s administror, with SJ Berwin acting as conflict counsel. Scottish firm Tods Murray also acted for the Bank of England, led by partners Hamish Patrick and Robert Dobie.
The Treasury said that Dunfermline would not have been able to pay depositors without the rescue package, which was carried out using new powers allowing the government to take control of failing financial institutions.
Freshfields used a large team on the transaction, with financial institutions partner Michael Raffan assisted by tax partner Richard Ballard, IP partner Chris Forsyth, head of finance Alan Newton, corporate partner James Smethurst and restructing partner Richard Tett.
Restructuring and insolvency partners Neil Golding and Nick Segal led the team advising KPMG, alongside SJ Berwin partners Michael Woollard and Dan Wheatley.