Slaughters wins Treasury role in Northern Rock saga
Slaughter and May has joined Freshfields Bruckhaus Deringer as the latest firm to cash in on the ongoing Northern Rock saga, with the elite law firm instructed on behalf of the Treasury to advise on options for the beleaguered bank. Slaughters will advise the Treasury alongside Goldman Sachs in the high-profile crisis surrounding the UK mortgage lender.
October 03, 2007 at 11:54 PM
1 minute read
Slaughter and May has joined Freshfields Bruckhaus Deringer as the latest firm to cash in on the ongoing Northern Rock saga, with the elite law firm instructed on behalf of the Treasury to advise on options for the beleaguered bank.
Slaughters will advise the Treasury alongside Goldman Sachs in the high-profile crisis surrounding the UK mortgage lender.
Freshfields, meanwhile, has secured a role advising the bank, with the firm's team led by its co-head of worldwide financial institutions, William Lawes, and head of structured finance Alan Newton.
The firm is a regular adviser to the Newcastle-based institution, advising on its acquisition of Legal & General Bank and Legal & General Mortgage Services in 2001.
It emerged last week (25 September) that Northern Rock had received a number of approaches for divisions of the bank. Interested parties are believed to include US buy-out house Cerberus, which is being advised by Ashurst.
Fellow fund Citadel – which has been advised by Allen & Overy in the past – and a group of Spanish investors lead by entrepreneur Jose Maria Ruiz-Mateos are also thought to be interested.
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