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Freshfields heads up German banking bailout
Freshfields Bruckhaus Deringer has won two lead roles as Germany becomes the latest country to bail out its stricken banks.It is understood that Freshfields advised the German Government on the set-up of a €500bn (£395bn) rescue fund, established earlier this week (20 October). The magic circle firm's team was led by Frankfurt-based corporate and finance partner Gunnar Schuster.The UK firm is also understood to have taken the advisory role for the first bank to make use of the fund after BayernLB yesterday (22 October) became the first German bank to apply for state aid, calling for an injection of €5.4bn (£4.3bn).
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