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.
This is the first major deal Herbert Smith has done for GE Capital in this sector. It was approached to do the work on the back of a burgeoning reputation for demutualisations. The firm is also acting on the £4.2bn demutualisation and flotation of Friends Provident, and on Royal London's acquisition of Scottish Life. National Mutual decided to review its mutual status and opted to look for a buyer; GE Capital was the successful bidder. The deal is subject to a vote by the members of National Mutual, to approval of the court and to regulatory consents and approvals. A member vote is expected to take place at the end of this year and a High Court hearing is expected at the beginning of 2002. The financial components involve payments by GE of £370m, plus a capital support facility of up to £200m. The offer has to be accepted by three-quarters of the membership. The National Mutual board proposes a fixed-cash payment of around £500 to each of its 160,000 members.