Firms cash in after MG Rover collapse

The collapse of Birmingham-based MG Rover has gifted a raft of national and City firms with key advisory roles.

Herbert Smith has landed the plum role to advise Rover's parent company Phoenix Venture Holdings (PVH) and its directors - the so-called Phoenix Four. It is understood that the City firm won the mandate because of its relationship with an in-house lawyer at PVH.

Meanwhile, Wragge & Co is advising the defunct carmaker's pension trustees. The Birmingham-based firm's relationship with the trustees spans several years. However, Wragges was replaced by rival Eversheds as Rover's principal adviser after the latter firm acted for PVH when it bought Rover from BMW.

Meanwhile, DLA Piper Rudnick Gray Cary's Birmingham office and Wragges have joined forces with a number of other local law firms to offer pro bono advice to Rover's employees and suppliers.