Tony Bugg, global head of restructuring and insolvency at Linklaters, is heading the team advising PricewaterhouseCoopers on the UK administration of Lehman Brothers, the global investment bank that declared bankruptcy last month, reportedly the world’s biggest, with debts of £613 billion.

What are the main challenges in this case?

Assisting the administrators in getting to grips with a highly complex, sophisticated business from a standing start and helping to co-ordinate a team of 70 lawyers from diverse disciplines to address the demands of this insolvency.

What was your worst day as a lawyer?

I always have a positive outlook on life so tend not to focus on bad days although there was an unfortunate moment when I was a young articled clerk. On a trial we lost an action against the principal defendant with adverse costs consequences but were successful against the second defendant who disappeared, never to be seen or heard of again. Explaining this outcome to the senior partner was not pleasant.

What was your most memorable experience as a lawyer?

Leading the team that advised the administrators of Enron Europe and working on that assignment over the past seven years stands out, but even that has been eclipsed by the events of the past four weeks at Lehman.

Who has been the most influential person in your life?

I was fortunate to be mentored by Michael Prior and Richard Wright, the two senior partners of my first firm, William Prior & Co, who introduced me to the world of insolvency and gave me the independence and confidence to develop my own style.

Why did you become a lawyer?

As a teenager, I spent two summers working for a small suburban law firm. I enjoyed the challenge of problem-solving and communicating with an array of people. I decided that a career in the law would be stimulating and play to my strengths, as well as providing a degree of independence and financial security.

What would your advice be to anyone wanting a career in law?

Be focused, positive, committed and be careful to make the right choices when they arise. It is also important to be prepared to make sacrifices. It is unlikely that any of my children will wish to follow me into the law, albeit that they are all argumentative.

Where do you see yourself in ten years?

I hope to spend more of my winters in the mountains, part of the summer learning something new and as for the bits in between it will rather depend on what state the economy is in.

l_tsang@hotmail.com

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