Overview
As Denmark emerges from the financial crisis, the focus is on consolidation. Despite two further bank failures in late 2010, insolvencies fell and businesses began to trade out of the recession. M&A and private equity markets started to pick up, with a few major IPOs.
The Big Four firms – Kromann Reumert, Bech-Bruun, Plesner, and Gorrissen Federspiel – dominate the market. While top banking and finance firms remain busy dealing with the aftermath of the crisis, the financial sector has been relatively quiet. Full-service firms Lett Law Firm and Horten face increased competition for public sector work.
Kromann Reumert is significantly bigger than its competitors and maintains an excellent reputation, while Bech-Bruun has reduced its numbers and Horten continues to expand through lateral hiring.
Accura Advokatpartnerselskab hired 35 transactional lawyers from Rønne & Lundgren. The remainder of that firm subsequently merged with Amstrup Jung & Partnere, a breakaway entity comprising the former Copenhagen partners of DAHL Advokatfirma. MAQS Law Firm recruited NORDIA Law Firm’s entire intellectual property and life sciences team. Seven corporate lawyers moved from Lind Cadovius to Nielsen Nørager.
Eversheds Advokataktieselskab, which was until recently the only foreign firm operating directly out of Copenhagen, has downsized significantly. In September 2010, Finnish firm Hannes Snellman Attorneys at Law Ltd launched a new office in Copenhagen, hiring three high-profile partners from Bech-Bruun.
Poul Schmith Law Firm, the Kammeradvokaten (legal adviser to the Danish State), is commended for its skills in all practice areas.
All the Big Four except Plesner have offices in Aarhus in Jutland, Denmark’s industrial heartland. As major deals are handled in Copenhagen, the leading Aarhus firms, such as Delacour Dania, also maintain offices in Copenhagen.
Lett Law Firm has offices in Copenhagen, Aarhus and Kolding, close to the German border. DAHL Advokatfirma has offices in Copenhagen, Aalborg, Esbjerg, Herning, and Viborg. Focus Advokater (LLP) is based in Odense, with branches in Copenhagen and Hamburg.