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.
Skadden Arps Slate Meagher & Flom's fees for its lead role on the NTL restructuring have topped nearly $4m (£2.5m) - almost double the bills from the three other firms on the deal
The US firm, which acted alongside Travers Smith Braithwaite, for longstanding client NTL, notched up $3.9m (£2.4m) worth of fees as well as $135,571 (£86,113) in expenses on the restructuring, which saw the cable group emerge from Chapter 11 this year.
While Skadden has applied for the largest amount of fees, Travers has also fared well. In making a formal application for compensation to the US Bankruptcy Court for the Southern District of New York, Travers is claiming for $1m (£670,502) in fees plus $27,851 (£17,693) in expenses.
For Fried Frank Harris Shriver & Jacobson's lead role in acting for the bond committee, the firm hopes to bill $1m (£670,502) and expenses of $24,652 (£15,658). While Cadwalader Wickersham & Taft is in line to reap $397,864 (£252,716) for legal advice and $32,664 (£20,747) in expenses.
NTL originally earmarked $68.4m (£43.4m) for paying its legal, accountancy and financial advisers on the deal.
While the application covers the period from when NTL originally filed for Chapter 11 in April last year, it is understood that a number of law firms were engaged on related work for which they have already been paid.