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Denton Wilde Sapte LLP has landed a dual role on the administration of London Scottish Bank, the latest financial institution to apply for administration after entering financial difficulties. The firm is advising Ernst & Young, who have been appointed as administrators, as well as representing the Financial Services Compensation Scheme (FSCS) which will be involved in paying compensation to certain customers of London Scottish Bank. Denton Wilde Sapte has recently advised the FSCS on compensation arrangements for the UK customers of the Icelandic banking group Landsbanki, namely depositors in Icesave and Heritable, as well as depositors in Kaupthing Singer & Friedlander. The firm was also appointed as conflict counsel to Ernst & Young for the administration of Heritable and Kaupthing. Preceding the Icelandic instructions, Denton Wilde Sapte advised the FSCS on its role in compensating customers of Bradford & Bingley. Dispute Resolution partner Richard Caird is leading the FSCS team with Reconstruction & Insolvency partner Richard Cook. The team advising Ernst & Young is being led by Reconstruction & Insolvency partner Nigel Barnett, who is working with Banking & Finance partner Catherine Astruc and Dispute Resolution senior associate Linda Ralli.
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