Allen & Overy (A&O) and Herbert Smith are playing key roles in Transport for London’s (TfL) bid for Metronet Rail.

Under advice from Herbert Smith head of projects Nicholas Tott and corporate recovery chief Kevin Pullen, TfL has lodged a formal takeover bid for Metronet, a consortium that failed while upgrading two-thirds of the London Underground rail network.

As Metronet is in administration it is not receiving direct legal advice on the bid.

Administrator Ernst & Young is being advised on the bid by A&O insolvency partner Mark Sterling and restructuring partner Katrina Buckley.