Elite UK firm Linklaters has played a key role in securing a £925m rescue deal for the embattled British high street banking group, Metro Bank. The banking group, first established in the summer of 2010 marking the first new UK High Street bank in over a century, has been grappling with profitability challenges in recent years, in addition to a major accounting scandal in 2019. Law.com reports that Linklaters acted as the legal adviser to Metro Bank in its negotiations.
Herbert Smith Freehills, another leading law firm, is said to have also contributed to these negotiations, advising one of the investors. However, due to the article being behind a paywall, further information regarding their precise involvement and other relevant details is currently not readily available.