The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
Slaughter and May is the latest City firm to be enlisted into the saga of Northern Rock.
The top 10 firm is representing the Treasury and the Financial Services Authority (FSA) on their advice to the beleaguered mortgage lender, which has turned to Freshfields Bruckhaus Deringer.
It is also understood that Cerberus is one of the as-yet unconfirmed parties that is mooting a bid for Northern Rock. The Lawyer understands that the US private equity house has turned to longstanding advisers Ashurst but the firm declined to comment.
Corporate partner and former New York head Giles Boothman manages the Cerberus relationship at Ashurst. He did not return calls for comment.
Freshfields plumped for Northern Rock - for which it has done some securitisation work in the past - over its more regular client the Bank of England.
The news comes as Northern Rock has scrapped plans for a £60m dividend pay out, waiting instead to see if any potential bids come to fruition.
Northern Rock last night announced that it had received preliminary approaches from a number of unnamed parties, of which Cerberus is predicted to be one. Revelations of the approaches has caused Northern Rock’s share price to leap 14 per cent overnight.
One name that has been floated in the press is controversial Spanish businessman José María Ruiz-Mateos, who told the bank last Friday (21 September) that he wanted to buy a controlling stake in it with other Spanish investors.
Slaughters will work with Goldman Sachs on options the Treasury and the FSA could present to Northern Rock.