Hogan’s dinar time

Lawyers in ’big bags of cash’ shock – hardly much of a story you’d think?

But hang on. This time it’s a really big bag. Huge. Big enough for the contents to fill a football field chest-high. Or, indeed, block the sun from the windows on several planes.

We’re talking about 1.86bn Libyan dinar. That equates to around £950m of newly printed banknotes, approximately 200 million of them in all.

That kind of wedge is enough to keep most lawyers happy for at least an hour. In this case it’s Hogan Lovells, the firm that picked up the role advising the Libyan National Transitional Council (NTC) on its successful bid to have the Libyan currency held in the UK by printer De La Rue released and flown back to the country (see story).

Hogan isn’t the only big firm involved in the rapidly changing Libyan situation. Yesterday, we revealed how Stephenson Harwood had secured a High Court order for British Arab Commercial Bank allowing it to act on the instructions of the NTC (see story)

Sadly it’s not known whether either Warren Gorrell or Sharon White got the chance to stand on a bed and throw fistfuls of dinar up in the air while grinning inanely.

Let’s hope so.