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Denton Wilde Sapte is advising its longstanding client the Financial Services Compensation Scheme (FSCS), on compensation arrangements for the UK customers of the Icelandic bank Landsbanki, namely depositors in Icesave and Heritable. The City firm is also acting for the FSCS on compensation arrangements for Kaupthing bank. The team is being led by Richard Caird, Richard Cook and Neil Griffiths. The Heritable Bank and Kaupthing Singer & Friedlander Ltd have gone into administration. To the extent there is a conflict between Freshfield's role in acting as counsel for the Bank of England and for the administrators Ernst & Young, Denton Wilde Sapte has been appointed as conflict counsel with Nigel Barnett acting. Denton Wilde Sapte is in a prime position to advise the FSCS and act as conflict counsel on the administration of Heritable and Kaupthing, following its role on the nationalisation and transfer of business of Bradford & Bingley and Northern Rock. The Restructuring and Insolvency Practice at Denton Wilde Sapte is well-placed to advise on this administration. Denton Wilde Sapte is the independent advisor to Northern Rock and acted on all five structured investment vehicles. Recent cases include Federal Mogul and Metronet. Partner Neil Griffiths, is noted by peers to be "tough opposition".
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