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"Established in 1930, Cabinet Beau de Loménie is one of the largest patent and trade mark attorney firms in Europe. The firm has offices in the main French business centres (Paris, ..." read more
"BDGS Associés was founded in April 2013 by four partners, three of whom (Antoine Bonnasse, Youssef Djehane, and Jean-Emmanuel Skovron) have over 20 years of experience in M&A a..." read more

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Legal market overview

The mood is grey in the City of Light these days despite most law firms reporting a small rise in turnover for 2013. Transactional activity is in steady decline and some believe the French market will never be the same again; it is now accepted that overseas deals – notably the African market – are the new transactional drivers for French law firms.

Anxiety in the market has, however, created a high demand for non-transactional advice. Restructuring and insolvency work have become the bread and butter of a majority of law firms as cases become larger each year. Litigation is also growing as large corporations are ensnared in major proceedings and banks are being called to account before courts, while global investigations are also increasingly common. White-collar crime is another concern across all disciplines and many companies are implementing compliance programmes.

Employment advice is absolutely thriving – one major player in that area reported a 40% increase in 2013 from an already high base – as the country debates the possibility of Sunday and late evening work. Tax law also hit the headlines in 2013 – one famous casualty being former budget minister Jérôme Cahuzac, who lost his government position following revelations of tax evasion. In arbitration, Linklaters LLP and Clifford Chance – two firms that had a relatively low profile in the field in France – considerably boosted their practice with major hires, moves which confirmed the reputation of Paris as a major international arbitration platform.

The continuous transactional decline is a challenge to the business model of many law firms as clients have adapted and increased their resources in-house. Fees and remuneration are major issues as panels and flat fees are becoming the rule. Two senior figures at the Paris Bar commented: the ‘lawyer profession is suffering: we work more to earn less’; the ‘real challenge now is to survive’.

As a result, some law firms are shrinking to specialise and move away from a commoditised market with high levels of competition. Regulatory law is becoming a major trend as regulatory activity has intensified across the EU and globally. Chasing growth in emerging markets such as Africa has become an alternative strategy for some.

Gide, the leading French law firm internationally in terms of lawyer numbers, lost many high-profile figures in 2013 including its top corporate teams – with one group creating its own boutique, BDGS Associés AARPI, and another joining Lacourte Raquin Tatar. Gide responded by hiring a 19-lawyer team from Morgan Lewis LLP.

There were also a number of very significant individual moves such as the high-profile Dominique Bompoint leaving Sullivan & Cromwell LLP to join Cabinet Bompoint and Maurice Lantourne quitting Willkie Farr & Gallagher LLP to create Lantourne & Associés.

Linklaters LLP also lost its leading 15-lawyer capital markets team to White & Case LLP, which has emerged as arguably the most dynamic player currently in France – appointing 11 partners over a 12-month period. DLA Piper and King & Spalding LLP are also among the up-and-coming players, with both firms again making major hires in 2013.

A number of international firms also recently opened offices in Paris including Pinsent Masons LLP, Osborne Clarke and Brown Rudnick LLP. Risk specialised and boutique firms are also a major trend, while medium-sized French law firms are increasingly opening offices in the regions and overseas.

Global mergers have also impacted the French market: recent examples include Dentons and King & Wood Mallesons SJ Berwin, which both have offices in France.

The podium of law firms in France is made up of the following: French law firms Bredin Prat, Darrois Villey Maillot Brochier, Gide – which remains the largest French law firm internationally with some 600 hundred lawyers worldwide – and De Pardieu Brocas Maffei A.A.R.P.I; UK firms Allen & Overy LLP, Clifford Chance, Freshfields Bruckhaus Deringer LLP, and Linklaters LLP; and US firms Cleary Gottlieb Steen & Hamilton LLP – which is widely regarded as the top US firm in France – along with Davis Polk & Wardwell LLP, Sullivan & Cromwell LLP, Weil, Gotshal & Manges, and White & Case LLP.

France also has a large and expanding market of high calibre medium-sized firms and boutiques, which addresses ‘a real need’, according to clients. Among these, the following are particularly noteworthy: Cotty Vivant Marchisio & Lauzeral, Franklin, De Gaulle Fleurance & Associés, Scemla Loizon Veverka & de Fontmichel (SLVF) are very good firms while newly created BDGS Associés AARPI, Cabinet Bompoint and Dethomas Peltier Kopf Juvigny also stand out, giving high-end advice.

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Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in France

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • The new French regulation applying to national insurance contributions for managers and shareholders

    French insurance contributions on executive and shareholder remuneration (pay + dividends) have been substantially increased by the National Insurance Funding for 2013 Act, No. 2012-1404, of 17th December 2012. Until 31st December 2012, all dividends were subject to national insurance contributions on unearned income but henceforth, under Article L136-3 of the National Insurance Code, amended by Act No. 2012-1404, certain dividends   are considered as pay received by executives and shareholders and are therefore subject to the national insurance contributions on pay. The Act also abolished the ceiling on health insurance contributions payable by the self-employed and all this means that businesses must rethink the way that they have been structured until now.

    The People's Republic of China has initiated an overhaul of its social security system, reformed the personal taxation regime and has extended the scope of these laws to foreigners residing in China.

    The Kingdom of Morocco is supporting the ambition of becoming the leading financial place for Africa. In this context, a wave of draft laws is to be passed and implemented within the following months, amongst which, the Law No. 53.08, setting up a new financial authority, and the Law No. 54.08, reforming public offering rules, are of paramount importance to Moroccan and foreign issuers, and financial institutions.

    The opportunities offered to foreign investors by the Chinese mergers and acquisitions market are increasing every year: in 2010, transactions involving foreign companies came to 60.1 billion euros, an increase of 21.2% compared with 2009. Seen from the West, where markets are declining, all sectors of the Chinese economy seem to be undergoing promising development and the statistics indicate that the Middle Empire will be a lasting springboard for growth.
  • Prime de Partage des Profits

    Le dispositif L’article 1er de la loi de financement rectificative de la Sécurité sociale pour 2011 oblige les sociétés commerciales de 50 salariés et plus, dont les dividendes par part sociale ou par action sont en augmentation par rapport à la moyenne des deux années précédentes, à verser une prime à l’ensemble de leurs salariés

    Types of investors The private equity (PE) funds that are active in Bulgaria are not raised or registered in the country. Some Bulgarian PE funds were raised recently, but there are no statistics as to the sources of their funding, their number, the funds that were accumulated, etc.

  • Landmark decision by French Competition Authority in conditioned LPG case

    cartel case closed after discovery that leniency application was largely based on forgeries and rejection of collective dominant position objection.
  • 2012 supplementary budget

    The second supplementary budget published in the Official Gazette September 19, 2011 provides for two key measures that affect the deferral of tax losses and taxation of capital gains realized on the sale of equity securities .
  • Actualité législative fiscale

    Au delà des mesures applicables à l’ensemble des contribuables (telles que la limitation du report des déficits ou la réforme du mode de calcul des plus values sur cessions de participations),le plan de réduction des déficits annoncé le 24 août dernier par le gouvernement comprend des mesures qui intéressent spécifiquement les acteurs du secteur financier.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Austria/Malta: Schoenherr advises Oesterreichische Volksbanken on sale of Volksbank Malta

    Schoenherr, a leading corporate law firm in Central and Eastern Europe, advised Österreichische Volksbanken-AG (OeVAG) on the sale of its fully-owned subsidiary Volksbank Malta Limited to Malta-based Mediterranean Bank plc. On 11 April 2014, OeVAG and Mediterranean Bank signed a Share Purchase Agreement for 100% of the shares in Volksbank Malta. Closing shall take place after the required approvals of the relevant regulatory bodies are received. read more...
  • Austria: Stefan Kuehteubl new head of Employment practice at Schoenherr

    Stefan Kuehteubl will join Schoenherr, a leading corporate law firm in Central and Eastern Europe (CEE), as a partner and the head of the firm's Employment practice as of July 2014. A highly-regarded employment law practitioner, Kuehteubl will be returning to Schoenherr, where he previously worked as a member of its employment team between 1999 and 2004. During the past ten years, he worked in a well-known Vienna-based employment law boutique, in which he was a partner since 2008. read more...
  • Proud to continue charitable donations in 2014

  • New Swiss Law on Product Safety

    The Swiss law on product safety ( Produktesicherheitsgesetz, PrSG) is currently scheduled to enter into force on July 1, 2010. This new law aligns Swiss product safety requirements with EU law. It applies not only to manufacturers, but to anyone who commercially or professionally markets products in Switzerland, and it introduces substantial new obligations before and after the sale of a product.
  • Chambers Global has once again recognised Pepeliaev Group's tax practice as the best in Russia

    The Chambers Global 2014 international ratings have hailed Pepeliaev Group's tax practice and the firm's managing partner Sergey Pepeliaev as Russia's best in the area of taxation (band 1 and Star Individuals). Commentators describe Mr Pepeliaev as "the father of Russian taxation." He has an outstanding reputation in tax litigation, for which he is said to be "absolutely brilliant." In addition, Chambers Global  lavishes praise on Rustem Ahmetshin (band 2), one of the firm's senior partners, who has considerable expertise in areas such as VAT and audit advice. Chambers Global sources commend Pepeliaev Group partner Valentina Akimova (band 3) as a "smart tax specialist." She has significant experience in a wide range of tax matters such as VAT, income tax and excise duties. Sources recommend Andrey Nikonov (band 3), another senior partner in the firm, as an authority on VAT, mineral extraction tax and unified social tax.  Chambers Global also rates Mr Nikonov highly for his experience in resolving tax disputes advising on the tax aspects of M&A transactions.

    Dhir & Dhir Associates advised National Housing Bank, wholly owned by Reserve Bank of India, on the Tranche- II of public issue of tax free bonds in the nature of secured, redeemable, non-convertible debentures with benefits under Section 10(15)(iv)(h) of the Income Tax Act, 1961, aggregating upto Rs. 1,000 Crore.

    In a recent landmark judgment of the Hon'ble Andhra Pradesh High Court in the matter of Deccan Chronicle Holdings Ltd. (DCHL) & Ors. Vs. Union of India & Ors ., the Hon'ble Court has laid down an important principal of law to the effect that SARFAESI Action can be taken by an assignee/ successor in interest only if the original lender had SARFAESI power.

    Dhir & Dhir Associates advised National Housing Bank, wholly owned by Reserve Bank of India, on the public issue of tax free bonds in the nature of secured, redeemable, non-convertible debentures with benefits under Section 10(15)(iv)(h) of the Income Tax Act, 1961, aggregating upto Rs. 2,100 Crore.
  • Angel Buzalov from “Popov & Partners” has participated in “Legal Day 2014”of GBICC

    On 20.03.2014 was carried the first part of the annually organized forum "Legal Day" of German-Bulgarian Industrial Commercial Chamber. Representatives of the leading legal companies in Bulgaria and industry representatives also took part in the event.
  • “Popov & Partners” took part in the consultations organized by the German-Bulgarian Industrial C

    On 24.03.2014 a meeting of the Advisory Board "Law" of the German-Bulgarian Industrial Commercial Chamber (GBICC) was held. The event was attended by representatives of the business as well as lawyers from major law firms in Bulgaria, including the law firm "Popov & Partners."