The Government’s much-derided record on legal procurement has come under fresh attack after it emerged that the panels set up in the wake of the banking crisis have generated little or no work for mandated City advisers. Allen & Overy (A&O), Herbert Smith and Simmons & Simmons were all appointed alongside Slaughter and May in November 2009 to advise UK Financial Investments (UKFI), the body managing the Government’s stakes in banks such as Northern Rock.
June 15, 2011 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Bank crisis mandates fail to deliver while Rock sale goes off panel
The Government’s much-derided record on legal procurement has come under fresh attack after it emerged that the panels set up in the wake of the banking crisis have generated little or no work for mandated City advisers.
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