Nick Segal, one of the leading partners in Freshfields' restructuring team, talks war zones, BCCI and Northern Rock

Why did you become a lawyer?

Preconceptions about the grandeur and dignity of the legal profession picked up mainly from TV shows, a keen interest in law as an academic discipline and a sense that you could earn a good living.

Who has been the biggest influence on your career?

I was inspired at university by Professor Dan Prentice, my company law tutor. After university, Peter Totty was my professional mentor with his mixture of calm pragmatism and deep learning in insolvency law. I have also learned from the brilliant writings of, and many hours of discussion with, Professor Sir Roy Goode. And last, but not least, is my wonderful wife, Genevieve.

What's your proudest professional moment?

Being elected a partner at three great law firms (Allen & Overy, Davis Polk & Wardwell and Freshfields Bruckhaus Deringer) has been a huge privilege.

What's the worst day on the job?

The day I learned that an elderly lady I had been counselling on a pro bono basis had committed suicide. She was a holocaust survivor who had run into financial problems, gone bankrupt and faced eviction from the flat she loved and had lived in for years. She would not accept any compromise despite my efforts and those of others to persuade her to be flexible. A principle was inviolate for her and she decided she would rather die than give in. I felt a huge sense of failure – and a sudden and sharp appreciation of the different dimension to practice with individual clients rather than large corporations.

Aside from your own firm, which lawyer do you most admire and why?

My former partner Don Bernstein of Davis Polk is my model for the great restructuring lawyer – a Rolls-Royce (he might say Corvette) intellect combined with an acute understanding of the business issues – plus vast experience. In London, I admire the corporate and restructuring team at Slaughter and May; Charles Randell, George Seligman, Sarah Patterson and Guy O'Keefe are all top-class lawyers. I also have great respect for my former partner in London, Mark Sterling of A&O, a fine technician with an enormous commitment. And some inspirational lawyers at the Bar who I have worked with over the years: Richard Sykes QC, Robin Potts QC, Sir John Chadwick, Michael Crystal QC, Richard Adkins QC, Stuart Isaacs QC and Robin Dicker QC.

What's your abiding memory of your time in New York?

I was delighted to find that law firm life was like it had been in London in the mid-1980s with a tightly-knit community and a long-cherished tradition. I loved getting inside the skin of another legal system – although I could have done without the trauma of the Bar exam taken with only four weeks of preparation after over 20 years without doing an exam (and the prospect of a large collective laugh emerging from London if I failed!).

What's the toughest ethical/moral dilemma your job has ever presented you with?

In 1991, I was working on the restructuring of BCCI, acting for the Government of Abu Dhabi and BCCI. Since the build-up of troops in Abu Dhabi and Dubai and the developing confrontation with Iraq, meetings had, thankfully, been held in London. Then in February I was summoned to Abu Dhabi for an urgent meeting. The bombing campaign had already begun and a land war was imminent. Did my professional duties to my clients require me to travel to a war zone? In the end I decided to go – and travelled out on the day the land war started – but only on the basis that my colleague, Alex Pease, who was then a major in the territorial army, would accompany me!

Most memorable deal you have ever worked on and why?

Acting for Northern Rock last year was an amazing experience. It was like advising in the middle of a tsunami. I have never been involved in a case before where everything you did played out on the front page of the newspapers and on the TV – to the extent that before going off to meetings you could tune in to the breakfast news to see the presenters and various experts discussing items on the agenda for your 10am meeting!

What most annoys you about the legal profession?

Pomposity.

What is the daftest bit of insolvency jargon you've heard?

The term 'administrative receiver' is both inelegant, a real mouthful and completely misleading – maybe that's why they were effectively abolished in 2003.

What's your favourite item of clothing?

The short-sleeve lambswool sweaters I wear at weekends – although my son, Tim, thinks that these and most of my out-of-office attire should be consigned to the museum where all things prehistoric have their proper place!

What's your favourite cheese?