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
An exhaustive analysis of the UK market including every firm in the top 200 ranked, analysed and benchmarked, UK chambers ranked by turnover, revenue per barrister and which international firms are most active in the UK.
Eversheds has been mildly rebuked in an otherwise damning report into the collapse of MG Rover.
The Government-commissioned report, which was carried out by Guy Newey QC of Maitland Chambers and Gervase MacGregor of accountants BDO Stoy Hayward, found that Eversheds was unable to do full due diligence in relation to Phoenix Venture Holdings’ PVH acquisition of Rover.
Eversheds usurped Wragge & Co as Rover’s go-to adviser when the company was reborn as MG Rover following Phoenix’s 2000 acquisition from BMW.
After MG Rover went into administration in 2005 the Government commissioned the investigation into the company’s demise.
While the report criticised Eversheds in some respects it did not find that the firm’s advice contributed to the company’s collapse. The report pointed out that PVH did not follow Eversheds’ advice to the letter, particularly in relation to the sale of its parts business Xpart to Caterpillar Logistics Services (Cat), a deal that was designed to keep MG Rover afloat.
“While those concerned may have understood Eversheds to have endorsed the basis on which Xpart was transferred to PVH, the way in which the proceeds of the sale to Cat were treated did not accord with advice which Eversheds had given,” it said.