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Linklatersputs 20 partners on Lehman job” />The number of Linklaters partners advising on the Lehman Brothers UK administration has climbed to 20 in the space of five days - one of the biggest senior legal teams on an insolvency this decade.
On Monday, the first day of the administration, eight partners were known to have been assigned the Lehman job. They included corporate partner Matthew Middleditch, restructuring partners Richard Holden and Tony Bugg and finance partners David Ereira.
In addition to the 20-partner team, 60 associates are already working on the Lehman administration. Linklaters insiders are predicting that due to the complexity of the insolvency, the lawyer tally is likely to approach 200 within months.
In a statement today, Lehman joint administrator and PwC partner Tony Lomas said: “There is unprecedented uncertainty and complexity in the market; nobody designed their systems or transaction structures to cope with the current situation.”
PwC and Linklaters are also negotiating with potential purchasers for Lehman’s asset management and corporate finance businesses, which are likely to be sold in the next week.
Other partner involved on the deal are:
- Richard Bussell, Rebecca Jarvis, Yushan Ng (banking) - Michael Kent, peter Bevan (financial markets) - Simon Firth, Pauline Ashall (capital markets) - John Turnbull, Euan Clarke (litigation) - James Knox (real estate) - Raymond Jeffers, Catrina Smith (employment)