Irish firm Arthur Cox has been called in by the Irish Government to work on the nationalisation of Anglo Irish Bank.
A bill is being heard in the Irish parliament today to enable the government to take control of the bank, which has been hit by a private loans scandal.
Arthur Cox managing partner Pádraig Ó Ríordáin is leading a team advising the government. He is the chairman of the government’s advisory forum on financial legislation and has been advising the Republic since September last year, when ministers announced a bank rescue plan.
Other partners from the Irish firm working on the nationalisation include capital markets partner Cormac Kissane, and corporate partners Thomas Courtney and Cianran Bolger.
Matheson Ormsby Prentice, which has been a regular adviser to Anglo Irish for the last few years, advised the bank in the run up to nationalisation and continues to act as its main legal adviser.
Partner Robert Heron is leading the team advising the bank alongside a group of partners including Tim Scanlon, Fergus Bolster and Pauline O’Donovan.
Shares in Irish banks have plummeted following the nationalisation of Anglo Irish, which was plunged into crisis when it was revealed that former chairman Sean FitzPatrick had secretly borrowed up to €127m (£115m).
Eight directors have since resigned from the board.