THE best thing about this story is not that Lai See can claim to be doing a bit for charity by publicising the following scheme.
No, the best thing is that solicitors from Clifford Chance have given us written permission to make slanderous references about them in the column, if you can believe that. Just thinking about it makes us tingle.
Andrew Taylor, Jamie Gibson and Pip Tan work in the Clifford Chance capital markets department. They are normally in charge of drawing up loan syndication documents for bankers so that nasty little accidents do not occur - like the client adding the words 'unless the borrower doesn't feel like it' after the repayment terms.
But currently they are working the other side of the street by hitting the telephones and faxes to try to drum up support from banks for their loan syndication.
The size of the syndication has not yet been determined, but then this is a rather odd CD. For one thing, CD in this case does not mean certificate of deposit but charitable donation.
For another thing, Clifford Chance is not collecting any fees and is even paying the expenses.
