Irwin Mitchell shortlisted by Lloyds to take on litigation unit

SHEFFIELD law firm Irwin Mitchell is among a shortlist to take over Lloyds’ retail and asset finance litigation teams, according to The Lawyer.

DWF and Shoosmiths are also on the shortlist, which comes to light days after the general counsel of retail and wealth Stuart Morgan, the lawyer driving the project forward, resigned from the bank, the publication has reported.

Sources have told The Lawyer that his exit is unlikely to change what is internally known as Project Canberra – the bank’s decision to outsource its retail and asset finance litigation teams to a panel firm.

Irwin Mitchell, which posted revenues of £200.2m last year, is thought to be leading the pack after firms were invited to pitch for the tender in July.

If a deal with one of the shortlisted firms goes ahead, the chosen firm is likely to take on the group of 70, according to The Lawyer, but said Lloyds declined to confirm this. The retail and asset finance litigation teams are spread across five  offices, including Hove, Chester and Edinburgh, and total around 70 staff.

The Lawyer says a final decision is still thought to be some months off, though the three firms shortlisted are understood to have been told that they are the front-runners. None of the firms commented when contacted by The Lawyer.