There was a time when the love-in between telecoms giant NTL and Travers Smith knew no bounds. In its heyday NTL work alone was generating about 10% of the firm’s annual revenue.
How the firm must miss those days now. After NTL filed for US bankruptcy in 2002, Travers pledged that it would diversify its client base, admitting it had too many eggs in one basket, yet still NTL remained a major client. Now that the company looks set to merge with its rival Telewest, Travers’ position as lead counsel looks precarious to say the least.
