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A&O looks to restructuring work to keep banking team ticking over

A view from inhouse As an inhouse counsel on the lender side, I'd like to make a couple of observations: (a) there is room enough for all 3 of links, A&O and CC in the world of big ticket financings and more besides; one of the problems I face is that there are so few firms in a position to act on a consistent basis for us. Links has a small number of qualify partners, CC has many quality partners but is hit and miss on the junior end of things, and A&O, notwithstanding some of the above comments which i would agree with, is still our first choice for consistent quality of banking lawyers across the board. (b) sponsors requesting not to have A&O on our side is something I have seen (although seldom, and not confined to A&O). However the idea that this is because of a firm being "over-lawyerly and insufficiently commercial" is nonsense! It is because they are bloody tough negotiators and know their stuff. Of course a sponsor would prefer us to use a regional or west end firm given the choice (!) but that is because they want the best deal asap with little negotiation on our side! This is why A&O and other firms with an established (and tough) lender practice will always be on my speed dial.

5-Nov-2008

4:14 pm