Skadden and Linklaters cash in on Nomura's Lehman rescue
Skadden Arps Slate Meagher & Flom and Linklaters this week landed lead roles on Japanese investment bank Nomura's $230m (£124m) acquisition of Lehman Brothers' Asian operations and the fallen bank's European and Middle Eastern equities and investment banking businesses. Skadden is fielding a team from its London and Hong Kong offices for the Japanese bank, with partners including Hong Kong corporate co-head Nick Norris, London restructuring partner Lynn Hiestand and London corporate partner John Adebiyi all playing central roles in the rescue.Linklaters, meanwhile, has been instructed to act for liquidators KPMG in Hong Kong, with Asia corporate chief Keith Johnson and litigation partner Melvin Sng advising. The magic circle firm was already acting for Lehman's European administrators, PricewaterhouseCoopers, under a heavyweight team including restructuring head Tony Bugg. Nomura, which beat bidders including Barclays to the European assets, has also turned to panel firm Osborne Clarke to advise on the employment aspects of the European deal, with the firm fielding a team under employment partner Victoria Parry. Nomura relationship partner and employment chief David Cubitt and employment partner Richard Brown are assisting.
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