Allen & Overy (A&O) and Skadden Arps Slate Meagher & Flom have advised the Royal Bank of Scotland (RBS) and Lloyds TSB on a $215m (£123m) Chapter 11 re-organisation of US bus manufacturer Blue Bird Body.

Blue Bird, advised by Skadden US corporate restructuring partner Jay Goffman, filed for Chapter 11 in the US courts on 26 January, with court approval of the re-structuring following on 27 January, making it the shortest stay in bankruptcy in US history.