City firms still getting support from banks despite credit squeeze
Ailing banks may be squeezing swathes of corporate Britain, but leading commercial law firms seem to be escaping the worst of the credit crunch, according to new research.The latest Legal Week Big Question survey underlines the extent to which banks are continuing to cultivate links with large law firms, despite the ongoing credit squeeze. Sixty-two percent of partners said their firm's commercial banks had been 'supportive', including 16% who said the banks had been 'extremely supportive'.A further 29% of respondents said their bank's stance had been 'OK', though 8% said their lender was 'not very supportive'. Only 1% viewed their banks as 'not at all supportive' in light of the current downturn. Likewise, only 13% of partners said banks had put pressure on their firm to improve performance.
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