Plans to return to the City from London’s Docklands could have cost Clifford Chance millions in fees and its relationship with a longstanding client.
Canary Wharf Group is reported to have ditched the magic circle law firm as legal adviser to its recent £535m loan investment deal, which will fund its Wood Wharf expansion.
The group, which is owned by Brookfield Property Partners and the Qatar Investment Authority, had for the last two decades instructed Clifford Chance. But on the loan deal for the 1,300-home scheme, which was struck on Tuesday, it instructed the London office of Gibson Dunn, a US law firm.
