Ashurst, Herbert Smith and Slaughter and May have all won leading roles on Bradford & Bingley’s (B&B) rescue.
After a weekend of emergency talks, Spanish bank Santander will take over B&B’s savings business and branches, while the £50bn lending business will be nationalised.
Herbert Smith corporate head Michael Walter advised B&B with corporate partners Will Pearce and Adam Levitt and restructuring partners Kevin Pullen and Laurence Elliott. Santander called on Ashurst’s new senior partner Charlie Geffen along with corporate partner James Perry and commercial partner Clive Tucker. Slaughters is advising the Government.