Slaughter and May and Ashurst Morris Crisp have landed lucrative instructions as primary advisers in the on-going legal shake up at property giant Rotch Group – while long-standing adviser Clifford Chance awaits to hear to its role.
Rotch last week completed the first phase of its panel review, appointing seven firms. A further five firms should be in place by July providing a final panel of four large firms, four medium and four small.
Slaughters and Ashursts were appointed as ‘Level 1 firms’ for securitisation, capital markets, telecoms and IT work – beating firms such as Simmons & Simmons and Bird & Bird which were in the running for appointments.
‘Level 2′ work – corporate and property – was awarded to Macfarlanes and Osborne Clarke. Davis Arnold Cooper’s former head of banking Chris Sykes, who joined Osbornes just over a year ago, was named as Osbornes’ contact partner.
The selections for ‘Level 3′ were divided into sector expertise: Salans Hertzfeld & Heilbronn HRK was appointed for employment and Memery Crystal for commercial litigation, IP and digital technology. Long-standing adviser, seven-partner firm Julian Holy, was included for property. A decision about Clifford Chance, which is involved in an instruction for Rotch, will be made during the next phase.
Rotch has more than £2.2bn worth of property under management. With an estimated legal spend of £5m per year, it is one of the UK’s largest consumers of legal work.
The review of advisers, overseen by group counsel Meena Heath, was prompted by the group’s need for advice on a wider range of work following a move into areas such as PFI and urban regeneration.
Rotch has also to appoint two firms in Scotland and two in Ireland. The group will also set up an international panel.
Rotch advisers: Client partners
