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Slaughter and May

Government 2009 (3)

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InnovationSolutions to the Icelandic banking collapse
Originality7
Rationale6
Impact7
Total20
DescriptionAn unusual mixture of international insolvency law and political turmoil formed the backdrop to the firm’s work to recover Icesave funds from the failed Landsbanki, as well as transferring further bank deposit books to ING Direct

Government 2009 (2)

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InnovationTransferring banks and building societies into different hands
Originality6
Rationale7
Impact8
Total21
DescriptionThe firm developed the Banking (Special Provisions) Act, enabling the transfer of £20bn (€21.7bn) from the ailing Northern Rock in 48 hours. It also acted as key adviser on the transfers for Bradford & Bingley and the Dunfermline Building Society

Government 2009

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InnovationThe blueprint for Europe-wide crisis intervention measures
Originality8
Rationale8
Impact9
Total25
DescriptionThe firm devised the threefold structure of increased liquidity, guarantee schemes and recapitalisations for the UK Treasury. Later, work on the asset protection scheme for Lloyds and RBS involved exceptional complexity