Morgan Stanley is to continue to act as debt restructuring adviser to NTL, despite the lawsuit the US investment bank has brought against the UK cable company over $11.4m (€10.9m) of unpaid fees from M&A and other financing transactions in 1999.

Morgan Stanley has carried out advisory work for NTL on several occasions, including advising on the UK company's acquisition of Cable & Wireless' cable assets in 1999. It has also been NTL's primary bond house, acting as sole lead manager of a €810m ($849.7m) three-tranche high-yield bond in November 1999 and sharing the books on a sterling-denominated bond in April the same year.