Cleary Gottlieb Steen & Hamilton, Stibbe, Linklaters, Clifford Chance (CC) and Belgian firm Liedekerke Wolters Waelbroeck & Kirkpatrick are among a raft of firms to have picked up roles on the state rescue of Dexia bank in Belgium.
Cleary is advising Dexia, which today (10 October) confirmed that its Belgian operations would be bought by the Belgian government for €4bn (£3.5bn), while the Belgian, Luxembourg and French states will guarantee a further €90bn (£78.4bn) to secure borrowing over the next 10 years. The bank also intends to sell its Luxembourg operations to investors.
