Herbert Smith joins insolvency rush with oil company mandate
Herbert Smith has become the latest firm to benefit from the run of UK restructuring and insolvency mandates, winning a role on the collapse of London and Toronto-listed Oilexco. Finance head Jason Fox and restructuring partner Kevin Pullen are leading a five-partner team advising administrator Ernst & Young on the collapse, which sees Oilexco become the oil industry's first casualty of the crunch. McCarthy Tetrault is advising Oilexco, with Freshfields Bruckhaus Deringer advising the banks involved in the deal. The administration is the latest in a stream of instructions for City firms in recent weeks, as well-known names ranging from Waterford Wedgwood to Zavvi have gone under.
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