Freshfields Bruckhaus Deringer and Linklaters have both set up Chinese walls to act on major project financing deals that saw them acting for both the financiers and the guarantors.

The deals saw Freshfields advise on the £170m refinancing by The Hospital Company of the Swindon & Marlborough PFI, while Linklaters advised on the financing of the €258m (£174m) Limerick tunnel PPP.

After gaining client consent, Freshfields fielded three teams to advise the bank's guarantor MBIA UK Insurance, as well as the financiers Bank of Scotland Corporate and HBoS Treasury Services and the trustee Citi-corp Trustee Company.