The Legal 500

A&L Goodbody continues to lead the market, giving ‘practical and commercial’ advice to the majority of leading Irish banks on the NAMA crisis. Clients regard Ciaran Rogers as ‘best-in-class in the Irish finance market’. Practice head Catherine Duffy advised on one of the few securitisations recently: GECAS’ $336m securitisation of a portfolio of engines. Adrian Burke is leading the team’s advice on the ongoing Quinn Group restructuring, and Peter Murray recently represented EBS during its acquisition by AIB and in obtaining its banking licence.

Arthur Cox ‘offers a wide range of solutions across the board’. Practice head Grainne Hennessy is ‘an experienced banking lawyer who is at home on large complex deals’; Ultan Shannon is ‘a strong practitioner’; Orla O’Connor ‘can provide advice on any aspect of Irish banking law’; and Kevin Lynch is also highly regarded. The firm has remained the lead legal adviser to the Irish government throughout the financial crisis and was the first private law firm globally to have negotiated legal terms of a sovereign bailout under the European Financial Stability Fund (EFSF). The team also advised NAMA on a number of matters.

Matheson Ormsby Prentice has ‘excellent industry knowledge’ and strength in depth. The practice has had a particular emphasis on restructuring and refinancing recently, but there was something of a return to traditional lending methods in 2011 especially in PPP and renewables projects, and the firm advised lenders on a number of deals. Patrick Molloy led advice to Deutsche Bank as global co-ordinator and book runner of a €700m notes issuance. Other notable clients include Bank of Ireland and Barclays Bank Ireland. Marie O’Brien has ‘built a sound understanding of the business’, and is recommended along with Libby Garvey and practice head William Prentice, who are both widely praised. Peter O'Brien is recommended for project finance.

McCann FitzGerald ‘impresses more than any other’, according to one client. It acts for all of the leading Irish banks and does ‘great work, is excellent value and easy to work to work with’. As with many Dublin firms, work continues to flow from NAMA. It is also the leading firm for aviation and asset finance, where regular clients include AerCap Holding, HSH Nordbank and Gulf Air. Joe Fay ‘finds the best legal way out of a situation’ and team head Ambrose Loughlin and Catherine Deane are considered to be leaders in their field.

William Fry’s ten-partner group constitutes ‘a very experienced team’ of ‘good negotiators’ that ‘goes well beyond normal client service expectations’. Elaine Hanly heads the practice, in which Orla Brennan and Rachel Stanton are highlighted for their ‘all-round excellence’. Owen O’Connell advised investors, including Fairfax Financial Holdings and WL Ross, on the €1.1bn acquisition of a 34.9% stake in Bank of Ireland. The group also advised Northern Foods on Irish aspects of its affiliate Boparan Finance’s dual-tranche offering of £400m senior notes and €340m senior notes, making it one of the largest European high-yield issuances in 2011.

Led by the highly rated Conor Houlihan, Dillon Eustace’s banking team has ‘an excellent reputation and experience’, and is a leading funds practice. It advised a number of Fidelity’s funds on the €1.23bn acquisition of common stock in Bank of Ireland. Other clients include GA Capital and FBD Holdings, and the team regularly receives referrals from UK firms including Clifford Chance and Norton Rose LLP. Conor Keaveny is also recommended.

Eugene F. Collins has an ‘industry knowledge and depth of experience one would associate with a top-tier firm’, and team head Laura MacDermott ‘combines a deep-thinking appreciation of law with robust commercial experience’. Highlights included acting for JD Sports on the acquisition of debt and equity in the Champion Sports Group as well as advising clients such as the Kepak Group and Ulster Bank on new facilities.

Maples and Calder’s ‘first-class’ team is ‘up there with the best’. David Maughan led a team advising the Investec Global Aircraft Fund on the establishment of its aircraft-leasing platform in Ireland. Liam Carney advised RBS Citizens as joint arranger for the syndicate providing a new facility to Penn Engineering. Nollaig Murphy heads the practice.

Mason Hayes & Curran provides comprehensive, ‘excellent service’, and is ‘one of the most knowledgeable firms around’, particularly for financial services regulation and asset and project finance. Team head Christine O’Donovan is an aviation finance expert. The firm was instructed by Simpson Thacher & Bartlett LLP as local counsel on the financing aspects of the Odeon Group’s acquisition of the UCI/Storm group of cinemas.

Beauchamps Solicitors has picked up its fair share of work from NAMA on loan portfolio due diligence. Daniel Cashman heads the practice, which advises clients such as EBS Building Society and Ulster Bank on security reviews and loan restructurings. On the regulatory side, Niall O’Brien is someone who ‘can explain complex matters in a straightforward way’.

ByrneWallace’s banking and financial services team has been advising alternative lenders on filling the void that the banks have left. Eileen Prendergast heads the team, which has been seen an increase in refinancing work and has been appointed by NAMA on seven significant mandates.

Eversheds advised Lloyds Banking Group on a number of Irish restructurings. Steve Rodgers heads the team, which sits on a number of key panels, including that of AIB, and counts EirGrid and the financial regulator among its regular clients.

Richard Curran’s team at LK Shields Solicitors has a deep pool of institutional and corporate clients. It advised Bank of Scotland on a portfolio of performing and non-performing loans.

The newly arrived Walkers has a wealth of asset finance expertise with a particular focus on aircraft financing. Ken Rush leads the team, which advised Global Aviation Asset Management on corporate and finance aspects of the $1.4bn sale of an aircraft-leasing platform.

Brian O’Donnell Solicitors’ small but prominent team represents several leading banks including Deutsche Bank and RBS. Brian O’Donnell is one of best known lawyers in Dublin.

Limerick-based Holmes O’Malley Sexton’s widely praised team is ‘professional and supportive’, and one of the largest outside of Dublin. Joseph O’Meara and Audrey Healy are both ‘professional’ and ‘knowledgeable’.

McDowell Purcell acts for a number of Irish banks including Bank of Ireland on the Dreghorn Group refinancing. Breen Purcell heads the practice.

Cork-based O’Flynn Exhams counts KBC Bank and Ulster Bank among its core clients. Frank O’Flynn leads the team.

Cork-based Ronan Daly Jermyn is the only Irish firm outside of Dublin to feature on NAMA’s refinancing panel, and also acts for all of the leading Irish banks.

WhitneyMoore advises on asset and project finance, and has particular expertise in commercial property finance.