In brief: Clyde & Co

Clyde & Co and Allen & Overy both scored multimillion pound deals as insurance club Ocean Marine Mutual finally sank into liquidation. A&O is representing Ernst & Young, the accountant called in by Midland Bank to oversee the protection and indemnity club which went under on 5 March. The bank is owed between £30m and £65m. Clyde & Co will act for the club's Australian reinsurer FAI.