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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In the United Kingdon, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for eight years. These partners are highlighted below and throughout the editorial.
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United Kingdom > Scotland > Finance > Law firm and leading lawyer rankings

Editorial

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Banking and finance

Index of tables

  1. Banking and finance
  2. Leading individuals: Hall of Fame
  3. Leading individuals
  4. Next Generation Partners
  5. Rising stars

Leading individuals

  1. 1

Next Generation Partners

  1. 1

Rising stars

  1. 1

Brodies LLP's banking and finance team has recently undergone significant growth at the non-partner level, expanding on the existing strength of the highly regarded partner group, which is led by Bruce Stephen. The practice is noted for its infrastructure, renewable energy and oil and gas finance work, real estate finance issues and corporate and acquisition finance matters. Also key is its strength in the marine finance space, where it acts on numerous new construction and vessel acquisition financings at a global level; this expertise is led by Neal Richardson and is particularly strong in the pelagic fishing, cargo vessel, emergency response and rescue vessel, and passenger ferry markets. Other key practitioners include Michael Stoneham, who leads the energy and infrastructure practice; and real estate finance specialist Chris Dun.

Practice head(s):Bruce Stephen

Other key lawyers:Michael Stoneham; Peter Kelly; Alan Knowles; Neal Richardson; Chris Dun; Marion MacInnes

Testimonials

'Brodies has good levels of experience across the team.'

'The finance team at Brodies is efficient, known for its quick turnaround times, reasonable pricing and good client relationship skills.'

'The banking group is made up of approachable, sensible and smart lawyers. They take a business-focused approach to the advice they provide and are quick to anticipate issues and suggest options.'

'Neal Richardson is worthy of special mention. He is very efficient and always turns work around quickly to a good standard and reasonable price.'

'Bruce Stephen stands out for his quick responses. He identifies the issues and focuses on solutions and options. His counsel is always sensible and clear.'

'Housing sector expert Chris Dun is personally very hands-on in both the drafting of loan agreements and the project management stage. He takes a project from cradle to grave.'

'Alan Knowles is very quick to respond and always remains calm and good-humoured.'

'Kimberley Ryder-Forman, an associate in the team, provides high levels of service.'

Key Clients

Lloyds Banking Group/Bank of Scotland PLC

The Royal Bank of Scotland PLC

HSBC BankPLC

UniCredit BankAG

Shawbrook Bank

Whyte & Mackay

DNB Bank

Goldman Sachs & Co LLC

Toscafund

CBRE Loan Services Limited

Work highlights

  • Advised the asset management team of a German investment bank on a multi-jurisdictional real estate finance negotiation relating to the acquisition of an investment property in Glasgow's business district.
  • Assisted The European Investment Bank with a £185m debt facility to the Wheatley Housing Group.
  • Acted for Brickability Enterprises Investments on a syndicated acquisition financing transaction.
  • Instructed by a renewable energy developer as borrower on senior and mezzanine finance facilities for three English gas peaking projects.
  • Advising a challenger bank focused on international trade and development on its £150m financing of the acquisition of a portfolio of hydropower plants.

Alan Soppitt leads the banking team at Burness Paull LLP, which handles the full spectrum of financing transactions including structured finance and securitisation work, fund finance, leveraged finance and real estate finance. Jonathan Heaney is the key contact for corporate lending and real estate finance work, John Kennedy is experienced in the oil and gas sector, and Gaenor Cassell focuses on real estate and leveraged financings, restructurings and securitisation work. The group recently gained a number of high-profile appointments in the renewable energy space and counts several major UK clearing banks as clients. Allan Leal made partner in 2018.

Practice head(s):Alan Soppitt

Other key lawyers:Jonathan Heaney; John Kennedy; Gaenor Cassell; Allan Leal

Testimonials

'Burness Paull fields a very commercially aware team of knowledgeable individuals, who are always keen to help and proficient in doing so.'

'At Burness Paull, the finance lawyers are competent and give good advice.'

'Sophie Coffey has an excellent understanding of the energy industry and is able to combine this with her banking and finance expertise to provide solid, well-considered advice.'

'Jonathan Heaney and Gemma Young are both competent and have a good knowledge of market practice in the asset management sector.'

Key Clients

BlueGem Capital Partners

Stewart Milne Group

Tailwind Energy Limited

NatWest Markets Plc

Tuscola Group Limited

Santander UK plc

Maven Regional Buyout Fund

Work highlights

  • Advising Incremental Group Holdings on its acquisition of GAP Consulting, supported by a facility from Clydesdale Bank and a venture capital investment from Maven Capital and Scottish Investment Bank.
  • Acted for new client Tailwind Energy on the amendment and restatement of its existing facilities and the provision of new mezzanine facilities by Mercuria Energy Trading.
  • Advising Esson Properties on the amendment and restatement of an existing facility agreement.
  • Assisting Tuscola Group with the Islamic financing of a number of significant real estate assets by Gatehouse Bank.
  • Advising the Royal Bank of Scotland as sole underwriter and arranger of a £12.2m senior development and investment facility for the acquisition and development of mixed-use assets at Torwood Street, Torquay.

CMS fields a broad debt finance practice, which is led by Gordon Hay and covers corporate and organisation finance, real estate finance, all areas of project finance, fund finance, asset finance and shipping work, and also has a growing aircraft finance team. The firm's global footprint bolsters the team's international capabilities and its ability to manage energy and power cross-border deals in multiple jurisdictions. Former practice head Caryn Penley is highly regarded in the field; other key practitioners include Stephen Phillips, leveraged and acquisition finance expert Alan Fulton, Aberdeen-based Dawn Reoch and energy finance specialist Jenny Allan.

Practice head(s):Gordon Hay

Other key lawyers:Caryn Penley; Stephen Phillips; Alan Fulton; Dawn Reoch; Jenny Allan

Testimonials

'CMS' partners are able to explain complex legal risks to non-legal individuals, allowing clients to understand and manage the key risk items appropriately.'

'CMS always goes above and beyond in delivering the work.'

'Jenny Allan is knowledgeable, thorough and personable. She is able to step into transactions when required to, and is clearly very aware of where the transaction is and what is still needed to be done.'

Key Clients

Barclays Bank

Lloyds Bank

RBS

Investec

Clyde Blowers Limited

Close Brothers

Clydesdale Bank

John Wood Group

ISDA

Santander

Work highlights

  • Acting for a syndicate of lenders led by RBS on the provision of acquisition finance facilities to px Group to finance its acquisition of Saltend Chemical Park from BP.
  • Acting for Lonsdale Capital Partners and its portfolio companies on a number of separate acquisition finance transactions.
  • Acted for Close Leasing on the financing of a 12 turbine wind farm in East Lothian, Scotland.
  • Advised the noteholders and lenders on the Scottish law elements of a private placing and funding by KCA Deutag Group and the taking of security over the group's Scottish assets and entities for its acquisition of the Omani and Saudi Arabian business of Dalma Energy.
  • Instructed by RBS to oversee the banking and property aspects of the staged intra-group hive up and refinance of 19 commercial properties owned by a Jersey fund and located throughout the UK.

Dickson Minto WS advises on all aspects of debt finance work and has recently handled a substantial number of transactions involving private equity elements, financial services issues and real estate finance work. The firm fields three specialist banking partners based in Edinburgh, who also jointly lead the group; Colin McHale, Allan Fraser and Alasdair Proudfoot.

Practice head(s):Colin McHale; Allan Fraser; Alasdair Proudfoot

Work highlights

  • Acted for Target Healthcare REIT on the amendment, restatement and increase of debt facilities provided by HSBC.
  • Advised Lomond Capital on the refinancing of its debt facilities by Clydesdale and Toscafund.
  • Advised Growth Capital Partners and Arrow Business Communications on the provision of term and acquisition facilities by Lloyds Bank and Santander.

Pinsent Masons LLP covers the full gamut of finance work and also has specialist expertise in bank structural reforms, ring-fencings, loan sales and purchases, loan-on-loan financings, derivatives, ship finance work, asset-based lending and oil & gas reserve-based lending. The department, led by John MacIver, fields a specialist reserve-based lending sub-team and also has capabilities in debt capital markets. Michael Watson focuses on project finance work, Iain Macaulay handles project finance matters and Gillian Frew is a specialist in energy and infrastructure finance. Richard Scott is the main Aberdeen contact and was recently promoted to office head.

Practice head(s):John Maciver

Other key lawyers:Michael Watson; Iain Macauley; Richard Scott; Gillian Frew

Testimonials

'The banking and finance team is highly knowledgeable and experienced. It is extremely responsive, especially when dealing with anything that requires an urgent turnaround, and adopts a pragmatic approach to problems and challenges.'

'At Pinsent Masons, the knowledge of the market and expertise in executing transactions means the banking team exceeds its peers.'

'Pinsent's finance experts work hard to deliver a joint support and to maintain a healthy dialogue on pertinent issues.'

'It is a team built on in-depth corporate banking knowledge, which is applied in a careful and commercial manner to ensure a transaction can be completed successfully within the required timescales.'

'Richard Scott is a skilled and knowledgeable banking lawyer. When discussing new instructions, Richard takes the time to really understand the commercial aspects of the transaction and, as a result, always identifies the optimum legal solution.'

'John Maciver provides excellent leadership to the team and a deep understanding of the range of issues that need to be managed when delivering a complex lending transaction.'

Key Clients

The Royal Bank of Scotland

HSBC Bank

Santander UK

Clydesdale Bank

Homes England

Wheatley Housing Group Limited

Deutsche Bank

Faroe Petroleum

Cairn Energy

Verus Petroleum UK Limited

Bricks Capital

Ithaca Energy (UK) Limited

Dana Petroleum Limited

Zennor Petroleum Limited

Work highlights

  • Assisted Ithaca Energy (UK) with its refinancing of a $400m reserve-based lending facility and new $300m term loan.
  • Advised Cairn Energy on the amendment and restatement of its reserve-based facility.
  • Advised Verus Petroleum on its first reserve-based facility and the subsequent amendment and restatement of the facility.
  • Acted for Wheatley Group on its £185m new funding from EIB to build and improve affordable homes.
  • Acting for Solarplicity on its banking facilities from NatWest to fund its smart meter rollout.

Shepherd and Wedderburn has a strong track record in financing transactions, demonstrated by its broad client roster of commercial and investment banks, corporate borrowers, sponsors and developers. The group also has varied sector expertise, acting across the energy and natural resources, real estate and infrastructure, food and drink, healthcare, hotels and leisure sectors. Fiona Buchanan heads up the group, which also fields consultant Graham Burnside, Andrew Kinnes, who specialises in banking, asset-based lending and securitisation work; and Clare Foster, who leads the firm's clean energy practice and project finance team. Hamish Patrick heads up the firm's financial sector group and has substantial expertise in the securitisation space.

Practice head(s):Fiona Buchanan

Other key lawyers:Graham Burnside; Andrew Kinnes; Hamish Patrick; Patrick Bell; Clare Foster; Rob MacLeod; Iain Wishart

Key Clients

Clydesdale Bank

Lloyds Banking Group

HSBC Bank

Scottish Enterprise

Santander UK

Nord LB

Amber Infrastructure

Green Investment Group

Yorkshire Building Society

JP Morgan

Work highlights

  • Acted for HSBC as agent to a syndicate of lending banks including Bank of Montreal, Deutsche Bank, HSBC, ING and Lloyds Bank, on all Scottish law aspects of a significant increase to a reserve-base loan facility provided to Ineos UK E&P Holding and its subsidiaries following the acquisition of the Forties pipeline system in the North Sea from BP.
  • Acted as Scottish counsel for BNP Paribas and J.P. Morgan Securities as lead managers on the issuances by Durham Mortgages A and Durham Mortgages B of £2.8bn and £2.4bn in residential mortgage-backed notes respectively.
  • Advised Davidson Kempner Capital Management on the purchase, legal title transfer and residential mortgage-backed securities relating to a portfolio of residential mortgages.
  • Assisted Interplex with its establishment of a $500m medium-term note programme to be listed on the Singapore Stock Exchange.
  • Advising JP Morgan Asset Management on a £680m portfolio financing package.

Addleshaw Goddard's finance and banking team is highly active in asset-based lending matters, social housing financings and debt capital markets issuances. The group's client base includes many of the major UK banks, alternative lenders and a variety of borrowers. The practice is led by energy sector acquisition finance expert Alan Shanks, and fields Tom Speirs, who specialises in financings in the healthcare and social housing sectors; Catriona Smith in the Aberdeen office, who focuses on the onshore and offshore renewable energy sectors and shipping work, and Euan Cluness who has a strong track record in asset-based lending, corporate lending and acquisition finance mandates.

Practice head(s):Alan Shanks

Other key lawyers:Euan Cluness; Tom Speirs; Catriona Smith

Testimonials

'The banking lawyers at Addleshaw Goddard are hardworking, pragmatic and always deliver. They're very good at filtering out the issues that they can deal with themselves and escalating the key issues that their clients need to focus on.'

'What sets the finance team apart is the fact that it isn't just highly skilled but also has got a huge amount of strength in depth compared to its peers.'

'The firm nurtures good client relations while providing a broad number of legal services.'

'Euan Cluness is a real go-to for transactional banking work and wins the lion's share of that work.'

'Legal director Ann Frances Cooney truly understands the industry and what her clients need. Her advice is sound, concise and easy to follow.'

Key Clients

Clydesdale Bank

Royal Bank of Scotland

HSBC Bank

Santander (UK)

Lloyds Banking Group

Barclays Bank

Business Growth Fund

Route Finance

Cairngorm Capital

Gravis Capital Partners

Robertson Group

Topaz Energy & Marine

Red Rock Power Limited

Triodos Bank NV

Bank of China

Shawbrook Bank Limited

Work highlights

  • Acting for HSBC on its strategic re-banking of Albert Bartlett & Sons.
  • Assisted Cairngorm Capital Partners with the financing of Thornbridge Timber's acquisition of Rembrand Timber.
  • Acting for RBS on the provision of debt funding to support LDC's investment into Duncan & Todd Holdings, the leading optical provider in Scotland.
  • Assisted Aldermore Bank with providing development funding to Queensberry Properties, which will purchase and develop a residential block in a mixed-use development at New Waverley, near the Royal Mile in Edinburgh.

The Aberdeen-based Blackwood Partners LLP has niche expertise in banking and finance work in the oil and gas sector with substantial experience in oil and gas acquisition finance matters, a key area of focus for practice head Scott Swankie. Swankie also handles corporate banking, aviation finance, shipping finance and property finance issues.

Practice head(s):Scott Swankie

Other key lawyers:Andrew Lyndon

Testimonials

'Scott Swankie is at the top of his game and has a great team beneath him.'

'The team is responsive, knowledgeable, accurate, dilligent and fast.'

'Scott Swankie is a very experienced solicitor, who guides clients through transactions with ease. He is very good at taking care of the small points and providing guidance on the major points.'

Key Clients

Ardyne Holdings Limited

Ashtead Technology Limited

Bank of Scotland/LBG

Balmoral Group

Bluewater Energy

Buckthorn Partners

Business Growth Fund

Centurion Group

Clydesdale Bank

Consilium Group

CoretraxTechnology Limited

DNB Bank

Work highlights

  • Acted for a club of banks including the Bank of Scotland, DNB Bank and HSBC on the provision of additional growth facilities to EnerMech Group.
  • Appointed by Ashtead to advise on the financing aspects of its acquisition of Welaptega.
  • Acted for LDC on the financing aspects of its acquisition of Duncan & Todd.

Dentons' work is spread between its borrower and lender client base, which includes clients at a national and international level and spans a variety of sectors; the team has also recently focused on growing its lender side work. The practice covers all aspects of banking and finance mandates including fund financings, securitisations, loan portfolio transfers and corporate borrowing. Susan Kelly heads up the UK banking and finance group and Stuart Fitzsimmons leads the Glasgow and Aberdeen practices. James Wilson specialises in property, fund and corporate finance mandates.

Practice head(s):Susan Kelly; Stuart Fitzsimmons

Other key lawyers:James Wilson

Testimonials

'Susan Kelly has a fantastic reputation in the sector. Her level of experience and expertise is second to none. She is someone who remains calm and is not prone to grandstanding.'

'One of the key things at Dentons is the efficiency of the service provided. The heavy lifting is taken on by the banking team, not the client.'

Key Clients

Devro

Card Factory

Rothesay Life

Tenaga Nasional Berhad

Bank of Scotland

Close Leasing Limited

Atom Bank

Edrington Group

Work highlights

  • Advising Card Factory on the £200m refinancing of its banking facilities with a syndicate of banks.
  • Instructed by Rothesay Life to handle the Scottish aspects of its acquisition of a £860m portfolio of loans owned by UK Asset Resolution.
  • Advising Tenaga Nasional Berhad on the refinancing of a portfolio of 53 UK wind farms across Scotland and England.
  • Assisting Magi No4 Jersey Unit Trust with the financing of the acquisition of 122 Waterloo Street, Glasgow.

In addition to advising key domestic clients including Clydesdale Bank and HSBC, DLA Piper Scotland LLP's banking team regularly receives mandates from international clients providing inward investment to Scottish assets. The group also recently expanded its high-profile client base with the addition of ICICI Bank and ABN AMRO to its client roster, and enhanced its work on the early-stage funding of technology companies. Scotland finance head David Morton, legal director Michael Urquhart and senior associate William Reid are among the key names in the team

Other key lawyers:David Morton; Michael Urquhart; William Reid

Testimonials

'The practice at DLA Piper is responsive, pro-active and commercially minded, and is willing and eager to find solutions as well as highlighting risks. It is also pragmatic in dealing with other legal teams.'

'DLA Piper has an extensive network that allows it access to different markets and jurisdictions. This provides a significant advantage when dealing with cross-border or multi-national transactions.'

'David Morton has a calm, clear and considered manner, with a strong appreciation of commercial pressures as well as technical legal considerations. He is proactive in making progress in transactions.'

'David Morton is a highly experienced individual, who brings a very pragmatic approach to any transaction.'

Key Clients

Clydesdale Bank

Lloyds Banking Group

The Royal Bank of Scotland

RBS Invoice Finance Ltd

ICICI Bank

ABN AMRO

Santander

HSBC

Vespa Capital

MAS REI

Harrison Street

Tosca Debt Capital Fund

Energy Ventures

Investec

Work highlights

  • Acted for Clydesdale Bank on its £15m acquisition funding of Laing Glasgow Holdings.
  • Acted for HSBC Bank on its £17m acquisition funding of Herbert Group.
  • Instructed by new client ICICI Bank to handle its £13m financing of the Easy Hotel, Edinburgh.
  • Advising Harrison Street on its £19m development funding for student accommodation in Glasgow.

Anderson Strathern acts for primarily lenders across an array of banking and finance matters, with a substantial track record in real estate finance, renewables and energy finance, corporate and structured finance, agri-finance, private banking and charity and third-sector finance. The team also has a notable borrower client base and has cross-border capabilities, particularly in the financial services space. Gillian Anderson heads up the group, which also includes senior associate Gregory Stachura.

Practice head(s):Gillian Anderson

Other key lawyers:Gregory Stachura; Nicholas Howie

Testimonials

'Anderson Strathern provides guidance and advice on a level clients can understand.'

'Gregory Strachura and Kate Bond provide great assistance for a good fee.'

Key Clients

Clydesdale Bank plc

RBS Group

Adam & Co

Ineos

Buccleuch Group

Allied Irish Bank

Svenska Handelsbanken

Apex Hotels Group

Crown Estate Scotland

Hampden & Co

Rangers International Football Club plc/The Rangers Football Club Limited

The Roxburghe Estate

Work highlights

  • Advised The Crown Estate Scotland on the finance documentation relating to its £10m investment in the MeyGen Tidal Energy Project in the Pentland Firth.
  • Acted for Teague Homes (UK) on a £40m loan for part of its flagship waterfront development in Edinburgh.

DWF regularly acts on both the borrower and lender sides of corporate banking mandates; its client roster includes major banks including Santander, RBS and Lloyds Bank. With an established presence in the real estate finance space, the team has also recently expanded its work in the renewable energy sector, where it has advised funders and developers, particularly on onshore wind and biomass projects. Director Alan Glen leads the team following the departure of Grant Docherty to Rooney Nimmo.

Practice head(s):Alan Glen

Other key lawyers:Mikela Rochford

Key Clients

The Royal Bank of Scotland

Santander UK

Unity Trust Bank

Squarestone Growth LLP

Bladnoch Distillery Limited

Work highlights

  • Advising RBS on its funding of the acquisition of a mixed-used office block in Aberdeen.
  • Acted for Squarestone Growth LLP on its refinancing of existing term loan facilities and several real estate acquisitions.

Harper Macleod LLP is particularly active in the Scottish SME lending market, but advises across the full market for lenders and borrowers including entrepreneurial companies, start-ups, SMEs and large corporates. The team has a substantial network across five Scottish offices including Inverness and Shetland bases. Recently, the firm has continued to expand its expertise in the corporate banking and transactional space in Edinburgh and the East of Scotland. Tony Cameron heads up the group, which also fields Jacqui Fraser, who leads the property finance team; and John Pringle, who counts several fintech lenders as clients. Limor Wolfe made partner in 2018.

Practice head(s):Tony Cameron

Other key lawyers:Jacqui Fraser; John Pringle; Limor Wolfe

Testimonials

'Harper Macleod's team has excellent knowledge of securities law.'

'Jacqui Fraser is always on hand to give her opinion and advice, even if not through formal instruction.'

'The team is very hands on with transactions, and fields very strong communicators who are great at offering advice on various elements transactions. It is extremely knowledgeable and very efficient.'

'Tony Cameron, John Pringle and Paula Skinner all deserve a mention as clearly impressive individuals.'

'The group is very efficient, friendly, easy to contact and practical in its approach. Jacqui Fraser is very efficient and practical and nice to deal with.'

Key Clients

Bank of Scotlandplc/Lloyds Banking Group

Allied Irish Bank

Clydesdale Bank

Santander

Aberdeen Standard Investments

Atom Bank

Thincats

Handelsbanken

Abundance Investments Limited

HSBC

Work highlights

  • Advised Aberdeen Standard Investments' infrastructure debt team on its private debt facility of £43m to finance six operational hydro-electric schemes, all of which are situated on rivers in the Scottish Highlands.
  • Advised Balmer Care Homes Group on the sale of Rosepark Care Home and Croftbank House, together with the associated properties.
  • Appointed by Goldcrest Communities to advise on an investment from Scottish private equity house, Maven Capital.
  • Advised Clydesdale Bank on the provision of term loan facilities to support the MBO of Glasgow-based independent financial planning company, Intelligent Capital.

MacRoberts LLP has strong expertise across the main financing markets in Scotland including corporate banking, real estate finance and project finance. The team fields a dedicated property finance specialists group and is recognised for its knowledge of the healthcare sector; senior associate Fiona Armour, who is based in Glasgow, leads the healthcare expertise. Also noted is practice head Norman Martin's knowledge of the whisky industries and the expertise of John Crawford in the agriculture space; Martin sits in Edinburgh while Crawford is based in Glasgow. Roddy Maclennan retired from the partnership but remains with the firm as a consultant.

Practice head(s):Norman Martin

Other key lawyers:John Crawford; Fiona Armour

Testimonials

'Norman Martin and Fiona Armour provide a great service with regular ongoing dialogue throughout a transaction.'

Key Clients

HSBC UK Bank plc

Bank of Scotland plc

The Royal Bank of Scotland plc

Santander UK plc

Handelsbanken plc

Moneything Capital Limited

Legal & General Pensions Limited

Colony Capital LLC

Formation Capital LLC

Peel Ports Group

Work highlights

  • Acting for the Scottish Ministers on the provision of partially convertible facilities to Burntisland Fabrications to assist with the implementation of its obligations under various fabrication contracts, and to support a long-term future for the BiFab yards.
  • Providing Scottish law banking and finance advice to Chapman & Cutler and The 1887 Company on the note purchase agreement and related documentation to be entered into by The 1887 Company Limited and the other Scottish registered companies in its group.

Morton Fraser handles all aspects of financing matters and loan portfolio transactions, and Clydesdale Bank, Barclays, AIB Group and Close Leasing are notable clients in the firm's roster. The team's real estate finance expertise was recently bolstered by a series of arrivals; the group also has substantial experience in banking litigation and the fintech space. Group head Andrew Meakin specialises in corporate debt financing and general bank advisory work, while John Lunn heads the retail banking space.

Practice head(s):Andrew Meakin

Other key lawyers:John Lunn

The banking team at Gillespie Macandrew LLP has particular expertise in peer-to-peer debt funding and acts for a significant number of the peer-to-peer agents and lenders operating in Scotland. Also notable is the firm's substantial track record in the agriculture and estates, real estate and energy sectors, and in the SME bridging market, where the practice continues to handle a significant volume of deals. The group is jointly led by Kenneth Irons, Christopher Smith and Gregor Peebles; Irons and Peebles handle property finance work.

Practice head(s):Kenneth Irons; Christopher Smith; Gregor Peebles

Other key lawyers:Ross MacRae

Testimonials

'Known for its excellent client service, the banking team at Gillespie Macandrew is very responsive and easy to deal with.'

'Clients go to Gillespie Macandrew for its prompt, efficient service delivery, ability to keep advice simple and its commercial sense. The team is very supportive and makes itself available.'

'The finance practice is personable, responsive, technically excellent and focused on the advice and end point of getting the deal done.'

Key Clients

Assetz SME Capital Limited

Royal Bank of Scotland

Gresham House Forestry Limited (formerly Aitchesse Limited)

Avant Homes Group

Majestic (Belford) Ltd

Clydesdale Bank

Repro Finance

Ledingham Chalmers LLP's Aberdeen office specialises in acting for lenders in the oil and gas sector, particularly on financing transactions. The firm also regularly acts in the marine industry and its Inverness office fields significant expertise in the public sector. The main names to note are Jody Mitchell, John Mitchell and Tim Thomas, who are all based in Aberdeen.

Lindsays' banking practice handles a wide range of transactions for lenders and borrowers, and notably excels in the real estate finance space. The group's real estate-focused work consists of increasingly high-value, cross-border transactions. The team also draws from the expertise in the commercial property and construction groups. Gavin Buchan leads the practice.

Practice head(s):Gavin Buchan

Other key lawyers:Thomas Horton

Testimonials

'The banking experts at Lindsays are quick, efficient & responsive and clients should have no concerns about their commercial awareness with practical recommendations made throughout the lending process.'

'The team is always very helpful in dealing with cross-border transactions, particularly in terms of assisting with commentary on Scottish law.'

'Gavin Buchan and Thomas Horton are both knowledgeable, approachable and flexible. Ann Clark works tirelessly and likes to think outside the box to get results in very tight deadlines.'

'Gavin Buchan is knowledgeable and always available to turn requests round quickly.'

Key Clients

Maslow Capital

Octopus Property

OakNorth Bank plc

Assetz Capital

National Westminster Bank plc

Clydesdale Bank plc

Hampden Bank plc

Redwood Bank Limited

Glenisla Developments Limited

FundingSecure

Work highlights

  • Provided Scottish law advice to Maslow Capital as senior lender on a development finance facility.
  • Acted for a UK challenger bank specialising in property finance on the Scottish aspects of a bridging finance transaction  regarding the purchase of a large site in Glasgow city centre.
  • Acted for OakNorth Bank on the Scottish aspects of a portfolio refinance relating to 161 public houses located throughout the UK.

The team at Shoosmiths acts for a number of UK clearing banks and also counts challenger banks, peer-to-peer and other alternative lenders and corporate borrowers as key clients. Recent highlights include complex structured real estate finance work across a wide range of sectors, leveraged and acquisition finance mandates, and cross-border opinion and security work. Legal director Stuart Murray leads the group, which includes associate Sheelagh Cooley, who heads up the real estate finance group; and senior associate Liana Di Ciacca, who recently joined from CMS.

Practice head(s):Stuart Murray; Sheelagh Cooley

Other key lawyers:Liana Di Ciacca

Testimonials

'The banking experts at Shoosmiths are straightforward to work with and provide a practical, efficient, and pragmatic service.'

'The team is always up to date with every issue, which makes clients feel very appreciated.'

'The team at Shoosmiths is always available to assist and advise whenever needed with a partner-led commercial mind.'

'Senior associate Sheelagh Cooley and Liana Di Ciacca always provide advice from a commercial viewpoint, which is a key quality on most corporate transactions. They are both very personable and professional individuals who are always a pleasure to deal with.'

'Liana Di Ciacca is exceptionally efficient and provides clear, practical, strategic advice that is simple to understand.'

Key Clients

Origin Homes Manchester 1 Limited (part of the Select Property Group (Holdings) Limited group)

Origin Homes Manchester 2 Limited (part of the Select Property Group (Holdings) Limited group)

Santander UK plc

Santander Consumer UK plc

Clydesdale Bank plc

Close Brothers Invoice Finance

Svenska Handelsbanken publ

Sancus

Amicus Finance plc

Assetz Capital

Work highlights

  • Acted for Sancus on its funding of one of the largest mixed-use developments in central Scotland.
  • Advised Select’s new brand Origin Homes on two separate facilities from challenger bank OakNorth Bank to fund its flagship purchase and development in Manchester.
  • Advised Svenska Handelsbanken, a leading Swedish bank, on its multi-million loan to Thistle Property Group to acquire two office buildings, Forth House and Playfair House in Edinburgh.
  • Acted for Assetz Capital on a complex refinancing of assets owned by an individual and his pension fund involving complex title and access issues.


Insolvency and corporate recovery

Index of tables

  1. Insolvency and corporate recovery
  2. Leading individuals: Hall of Fame
  3. Leading individuals
  4. Next Generation Partners
  5. Rising stars

Leading individuals

  1. 1

Next Generation Partners

  1. 1

Rising stars

  1. 1

Addleshaw Goddard advises its high-profile client base on Scottish insolvency matters and the Scottish aspects of major cross-border restructurings. In recent highlights, the team, which is led by Jamie McIntosh from Edinburgh, represented the administrators of Havelock Europa, and advised the liquidators of Doonin Plant. Also notable is Addi Spiers, who leads the UK distressed real estate practice from the Aberdeen and Edinburgh offices.

Practice head(s):Jamie McIntosh

Other key lawyers:Tim Cooper; Addi Spiers; Jamie Nellany; Emma Widdowson

Testimonials

'The practitioners at Addleshaw Goddard go out of their way to build and maintain the relationship across the whole of the team. They are well respected in this specific line of work and can deliver what is required on time and within budget.'

'Tim Cooper provides very straight and practical advice when clients want to cut through the issues and have effective and efficient advice.'

'Jamie McIntosh, Lynsey Walker and Kirsten Fleming all have the ability to come up with solutions to potential problems.'

Key Clients

Lloyds Banking Group

The Royal Bank Of Scotland plc

Santander Bank

Clydesdale Bank PLC

HSBC

Barclays Bank plc

KPMG LLP

Clipper Holdings II S.a.r.l.

Cable Capital Partners Limited

FRP Advisory

Work highlights

  • Acting for the administrators of Havelock Europa on the sale of its business and assets to turnaround specialist RCapital.
  • Instructed by KPMG as liquidators to represent Doonin Plant in a case, which had a significant impact on the status of environmental obligations of companies for illegal waste activities prior to insolvency, and their enforcement as an expense of liquidation under insolvency law.

  • Acted for Santander Bank on the administration of Bertinaley Care.
  • Assisted KPMG as administrators of James Callander & Son with the negotiations to enable a disposal of assets, returns to plant and machinery finance creditors.
  • Advising The Royal Liverpool and Broadgreen University Hospitals NHS Trust on the managed termination of the Royal Liverpool Hospital PFI project.

Burness Paull LLP recently hired Michael Thomson from Pinsent Masons LLP to head up the restructuring and insolvency team; his recruitment has impacted the practice's client roster with new lender appointments and city law firm clients. On the contentious side, Gary Moffat is a dedicated insolvency litigation specialist and regularly represents the Insolvency Service.

Practice head(s):Michael Thomson

Other key lawyers:Gary Moffat

Testimonials

'The team at Burness Paull  is known for its excellent market knowledge and presence in both non-contentious and contentious restructuring; the team has reassuringly deep expertise fronted by exceptionally approachable and commercially-minded partners.'

'The team has a wealth of experience at all levels. It is clear that senior members of the team take time training those that are more junior. This means that all members of the team have a strong understanding of the law and also the commercial issues at play in this area.'

'Michael Thomson is incredibly user-friendly and commercial. Gary Moffat is experienced and unflappable. Jonathan Heaney has deep technical experience and a very impressive profile.'

'Michael Thomson is a highly capable and commercially minded lawyer in whom clients have a high level of confidence. He is also extremely client-focused, and builds and retains exceptional relationships.'

'Gary Moffat is excellent to work with and gets to the heart of difficult issues very quickly. He takes time to understand his client's aims and objectives and ensures that the approach taken is consistent with these.'

Key Clients

HSBC Bank plc as lender and Ernst & Young as administrators of House of Fraser

Lujo Properties Limited.

The Royal Bank of Scotland plc, Lombard North Central PLC and Lombard Technology Services Limited

T.O.M. Group (comprising ten distressed companies within the group) and Deloitte

The trustees of the pension scheme of Havelock Europa PLC (now in administration)

The Insolvency Service

Pension Protection Fund

James McFadden

Zhuoli Imaging Technology Co., Ltd

Work highlights

  • Acting for HSBC Bank and Ernst & Young as lender and administrator respectively on the administration of a national retailer.
  • Instructed by a project company forming part of a consortium to advise on the administration of the UK’s second largest building firm.
  • Assisting Lujo Properties with the company voluntary arrangement of a national retailer.
  • Acting for the Insolvency Service in investigating the activities of insolvent companies, undertaking public interest winding-up cases; and pursuing director disqualification court applications.
  • Advising the Pension Protection Fund on the administration of the Pringle Knitwear group.

Pinsent Masons LLP's insolvency and restructuring group is notably strong in the oil and gas, renewables, care homes, retail and financial services sectors, with particular expertise in distressed loan sales and purchases and UK bank ring-fencing projects. Claire Massie leads the practice, which also fields Stacey Bairner, who specialises in the trading and restructuring of distressed debt; and senior associates Jennifer McCormick, Ainslie Benzie and Natalie Colaluca. The group was also recently strengthened by the arrival of senior consultant Colin McIntosh from Brodies LLP.

Practice head(s):Claire Massie

Other key lawyers:Stacey Bairner; Jennifer McCormick; Ainslie Benzie; Natalie Colaluca; Colin McIntosh

Testimonials

'The Pinsent Masons team brings sector knowledge, an arsenal of AI capabilities and the ability to mobilise a much wider team across the UK.'

'The team's breadth of experience in the non-performing loan space (both sell and buy side), the quality of its service and the level of its expertise is what sets Pinsent Masons apart.'

'Senior associate Ainslie Benzie is always happy to help and provide guidance when needed. She has a wealth of support and experience available within Pinsents to support as required.'

'Stacey Bairner and her associates Ross Cooper and Kevin Mulligan are all excellent and build up a relationship of reliance and trust with their clients within a short time.'

'Stacey Bairner is an excellent partner. She is always available, very level-headed, an excellent communicator, knows her stuff and is an absolute pleasure to work with.'

'Natalie Colaluca is a standout senior associate.'

Key Clients

House of Fraser Limited House of Fraser

Tesco Personal Finance Plc

Lone Star Funds

Deloitte LLP

FRP Advisory LLP

Ernst & Young

BDO LLP

Work highlights

  • Advising on the Scottish law elements of the contingency planning and restructuring steps for House of Fraser.
  • Acting for Deloitte as administrator of Corby Developments and Northants Rockingham Speedway on the sale of Rockingham Motor Speedway and the associated property.
  • Appointed by Tesco Personal Finance as lead counsel to advise on all the Scottish and English law aspects of the sale of Tesco's Irish credit card business.
  • Acting for Ernst & Young as administrators and liquidators of a large international oil and gas group.
  • Instructed by Lowell Group to advise on the review and reporting of its entire portfolio of credit agreements.

Shepherd and Wedderburn's experience spans transactional, financial and contentious restructuring and insolvency matters for a client roster, which includes large restructuring and insolvency specialists and a number of niche practices in Scotland. The practice is led by Glasgow-based Yvonne Brady, who has a particular focus on the reorganisation and disposal of distressed and insolvent businesses in the SME and mid-market sector. Other noteworthy individuals include contentious specialist Gillian Carty, Fiona McKerrell, who focuses on complex financial restructurings and advising directors of distressed companies; and senior associate Allana Sweeney, who handles distressed M&A work.

Practice head(s):Yvonne Brady

Other key lawyers:Gillian Carty; Fiona McKerrell; Hamish Patrick; John Gallacher; Allana Sweeney

Key Clients

Ernst and Young (EY)

KPMG (UK and Ireland)

FRP Advisory

BDO

Johnston Carmichael

Deloitte

PwC

Latham & Watkins

Allen & Overy

Leonard Curtis

Sidley Austin

Work highlights

  • Assisted EY with the administration of the Tom Group.
  • Advised PwC on the potential restructuring and ultimate administration of Beaconhurst School.
  • Acting for a number of firms on the bulk transfer of portfolios of appointments following the departure of an insolvency practitioner.
  • Assisted JCE Group as majority shareholder with the initial standstill and rescue of Scottish offshore wind fabricator, Burntisland Fabrications.
  • Advising the liquidator of St Andrews Motorhomes on a range of issues arising from the conduct of the director of the company pre-insolvency.

Brodies LLP's contentious expertise was recently bolstered by the arrival of Tony Jones QC from BTO Solicitors LLP. The insolvency and restructuring team, led from Edinburgh by Rachel Grant, represents large corporates, SMEs, public sector and regulatory clients, high-profile retailers and construction companies. Peter Kelly leads the Glasgow-based group, and Bruce Stephen handles specialised insolvency processes.

Practice head(s):Rachel Grant; Peter Kelly

Other key lawyers:Bruce Stephen; Shirley Li-Ting; Louise Laing; Lucy McCann; Amy McVey

Testimonials

'Led by Rachel Grant, this is one of the strongest teams in the Scottish insolvency and corporate recovery field. At Brodies, the advice is robust, detailed and well thought through with a commercial application for the client.'

'Brodies fields a strong team at all levels with great expertise combined with practical experience.'

'The insolvency and corporate recovery team at Brodies provides strong technical and commercial advice, which enables insolvency practitioners to make important decisions on complex issues.'

'Rachel Grant is one of the leading insolvency and corporate recovery lawyers in Scotland.'

'Rachel Grant is an extremely capable solicitor who has always been able to offer a practical solution to any issue. She is always approachable and quick to respond, which is a huge asset when faced with a time pressured situation.'

Key Clients

PwC LLP

KPMG LLP

Ernst & Young LLP

FRP Advisory LLP

Grant Thornton LLP

BDO LLP

Aver Advisory Services

Tennent Caledonian Breweries UK Limited

Henderson Loggie

Scottish Enterprise

Work highlights

  • Advised the board of directors of Angus Cereals on its financial distress and subsequently acted for FRP Advisory as joint administrators.
  • Advised the board of directors of Deveron Homes and Deveron Construction and subsequently KPMG as joint administrators.
  • Instructed by the joint liquidators of RFC 2012 (formerly Rangers Football Club) to advise on all aspects of its liquidation.
  • Acted for Henderson Loggie Chartered Accountants as trustee on the sequestration of  Ross Harper Solicitors.

CMS' restructuring and insolvency team fields dedicated specialists, led by¬†Si√Ęn Aitken¬†from the Edinburgh. With a particular strength in oil and gas restructurings, the group regularly advises its client roster on a variety of issues including defaults, co-venturer insolvencies, acquisitions of assets in distressed situations, decommissioning liabilities and interactions with the Oil and Gas Authority.

Practice head(s):Sian Aitken

Other key lawyers:Jennifer Antonelli

Key Clients

KPMG

The Royal Bank of Scotland Group

FRP Advisory LLP

SSE Renewables

Ernst & Young LLP

Deloitte LLP

Lloyds Banking Group

Davidson Kempner Partners

PwC

Natwest Markets

Work highlights

  • Acted for RBS on a security enforcement relating to a Learjet aircraft and engines owned by First Aviation by way of a receivership appointment.
  • Assisted the Bank of Scotland with the review of the security documentation, drafting of demand letters, review of administration appointment documentation, and the release and discharge of security in the Havelock administration.
  • Advised SSE Renewables on the liquidation of Brims Tidal Array, a joint venture between SSE and Openhydro Group.
  • Acted for the concession creditors, principally White Stuff and French Connection, on the House of Fraser CVA and subsequent administration.

The team at Morton Fraser draws on experts from a range of specialist areas and disciplines including restructuring, litigation, banking, property, employment, financial crime and asset based lending. The group recently welcomed Alan Meek into the Glasgow office from MacRoberts LLP ; he jointly leads the group with non-contentious expert Iain Young. The team also includes insolvency litigation specialists Richard McMeeken in Edinburgh and Nicola Ross in Glasgow.

Practice head(s):Iain Young; Alan Meek

Other key lawyers:Richard McMeeken; Nicola Ross

Key Clients

FRP Advisory

Johnston Carmichael

French Duncan LLP

KPMG LLP

Deloitte LLP

Grant Thornton

Metis Partners

Armstrong Watson

RSM

BDO LLP

Work highlights

  • Acted for BDO LLP as administrators of Granite City Assets in a petition for directions in a Court of Session relating to whether a claim by a group of creditors was secured.
  • Representing Geoghegan & Co in an action of accounting brought against the former owner of Subway (Edinburgh), who is alleged to have taken £1.5m from the company.

BBM Solicitors' team acts for insolvency practitioners and has notable expertise handling matters arising from formal appointments. It also has a substantial reputation for contentious insolvency matters, including opposed interlocutory applications for matters including remuneration issues and substantive asset recovery and fraud cases. Eric Baijal leads the group from Edinburgh and has a noteworthy track record in cross-border matters. The non-contentious restructuring sub-group is led by director Jennifer Simpson.

Practice head(s):Eric Baijal

Other key lawyers:Jennifer Simpson

Testimonials

'Eric Baijal and Kate Sharp are both highly talented and work well together.'

'BBM Solicitors provides top-quality personal service.'

Key Clients

FRP Advisory LLP

Manolete Partners PLC

French Duncan

Johnston Carmichael

MLM Solutions

Campbell Dallas

Anderson Anderson Brown

RSM

Begbies Traynor

Scott Moncrieff

Work highlights

  • Acting for joint liquidators of CS Properties in a Section 212 Insolvency Act 1986 claim against two former directors relating to the diversion of sums diverted away from the company in insolvency.
  • Acting for the liquidator of Rutland Investment Managers in various claims arising from the insolvency including court proceedings against a financial services network alleged to have received authorised commission trail payments transferred by the company pre-insolvency.
  • Advising Urquhart and Co on its potential restructure and ultimately insolvency.
  • Advising a group of creditors in Scotland on the House of Fraser administration.

The restructuring and insolvency team at Harper Macleod LLP covers all areas of work ranging from complex bank-led restructurings and refinances to administrations. The group, which is jointly led by Gordon Hollerin and James Lloyd, has particular expertise in the sport sector; it recently advised on issues arising from voluntary liquidations and dissolutions. The practice has also recently expanded its alternative lender client roster.

Practice head(s):Gordon Hollerin; James Lloyd

Other key lawyers:John Pringle

Testimonials

'The Harper Macleod team is well known in the market for its breadth and depth of experience in restructuring and excellent commercial skills.'

'Gordon Hollerin is an excellent lawyer. He is pragmatic, commercial and very responsive to client needs. He quickly provides sensible and clear advice, which can be applied in practical terms. He understands the market and the key drivers for working with insolvency practitioners.'

Key Clients

Lloyds Banking Group Business Support Unit

Clydesdale Bank Strategic Business Services

Allied Irish Bank Financial Solutions Group

KPMG

BDO

RSM Restructuring Advisory

Scott Moncrieff

Lendy Limited

Quantuma

Leonard Curtis Business Solutions Group

Our Power Energy Supply Limited

The Phoenix Car Company Limited

Work highlights

  • Advised Our Power Energy Supply on Ofgem's Supplier of Last Resort process, and on the subsequent appointment KPMG as administrators. It is also advising the administrators on the administration process.
  • Acting for RSM Restructuring Advisor as liquidators of Aulds on the group's restructuring the group.
  • Instructed by RSM Restructuring Advisory on its appointment as liquidator of Balmoral Knitwear and the liquidation-related employment issues.
  • Advised Quantuma LLP as liquidators of Yorkshire Investment Property Denison Ventures regarding the presentation of a petition on behalf of a chargeholder who had substantial outstanding debt.

The insolvency and restructuring team at Anderson Strathern handles the full spectrum of insolvency and restructuring work, and has particular expertise in the contentious aspects of corporate insolvency matters. Practice head Katrina Lumsdaine has a high-profile client base including government agencies and insolvency practitioners, which she advises on national and cross-border matters. Gillian Jamieson was recently promoted to the partnership.

Practice head(s):Katrina Lumsdaine

Other key lawyers:Gillian Jamieson

Key Clients

HMRC

Accountant in Bankruptcy

Begbies Traynor (Scotland) LLP

Johnston Carmichael LLP

RSM Tenon

New School Butterstone Limited

Payfont Limited

T Graham & Sons Limited

MLM Solutions

KPMG

Work highlights

  • Acted for The New School Butterstone on its restructuring and subsequently appointing and acting for its joint administrator.
  • Assisted the administrator of Payfont with its administration.
  • Assisted Freeman Fisher LLP on the implications of the insolvency of Carillion including lodging a petition for an order to wind up a Scottish construction company.
  • Advising T Graham & Son on its restructuring options and subsequently acting for the company's liquidator.

Blackadders LLP's insolvency client base spans distressed companies, directors and stakeholders, lenders, investors, servicers and secondary debt investors, as well as financial advisers, turnaround specialists and insolvency practitioners. Under the leadership of Ryan McKay, the team handles a wide range of issues including administrations, bankruptcys, business restructurings, liquidations, partnership insolvencys, receiverships and voluntary arrangements.

Practice head(s):Ryan McKay

Other key lawyers:Stephanie Carr; Richard Godden

Testimonials

'Blackadders fields an experienced and commercial team.'

'Stephanie Carr is very experienced in insolvency matters, particularly when it comes to personal insolvency. She is personable and client-friendly.'

At BTO Solicitors LLP, the insolvency and corproate recovery group primarily handles insolvency litigation and shareholder and boardroom disputes. The team provides advice and representation to directors pre- and post-insolvency including directors’ duties or disqualification proceedings and personal liability claims. Dorothy Hatfield and Grant Hunter lead the insolvency litigation group, and Alastair Dunn heads up the advisory and restructuring advice.

Practice head(s):Dorothy Hatfield; Grant Hunter; Alastair Dunn

Key Clients

Lloyds Banking Group

Dooneen Limited t/a McGiness Associates

American Express Services Europe Limited

Triodos Bank NV

Hastings & Co

Begbies Traynor

Campbell Dallas

Johnston Carmichael

WRI Associates

Coface UK Limited

Work highlights

  • Successfully dismissed an appeal for Dooneen following a claim in the Court of Session against an Insolvency Practitioner regarding who was entitled to a PPI claim where there had been an intervening insolvency.
  • Handled the appointment of joint administrators for Greenlight Environmental.

Gilson Gray has strong capabilities across commercial litigation, debt recovery and insolvency under the joint leadership of Steven Jansch, David Alexander and Craig Darling. Jansch heads up the insolvency and RR&I groups and is also a practising solicitor advocate, Darling leads the business restructuring and recovery department, and Alexander is the key contact for debt recovery work.

Practice head(s):Steven Jansch; Craig Darling; David Alexander

Testimonials

'The firm has the ability to deal with all of its clients' needs.'

'David Alexander's counsel is thorough and professional.'

'Steven Jansch is straight and to-the-point.'

Key Clients

J3 Debt Solutions

Armstrong Watson

Bridging Loans Limited

Leonard Curtis

William Duncan

Anderson Anderson and Brown

Dunedin Advisory

Condies Business Recovery

Begbies Traynor

Campbell Dallas

French Duncan

Grainger Corporate Recovery

Work highlights

  • Acted for Bridging Loans as qualifying floating charge holder in securing an administrator appointment over director-led liquidation proceedings.
  • Represented a trustee in a high-profile bankruptcy involving international proceedings.
  • Successfully acted for an individual in an appeal against an accountant relating to a bankruptcy decision regarding the client's debt arrangement scheme.
  • Advised RSM as liquidator of Techimp Group on an international group company sale transaction.

With a strong focus acting for local insolvency practitioners, Ledingham Chalmers LLP also assists large corporates across Scotland with debt recovery and insolvency matters. The team is led by specialist litigator Tim Thomas from Aberdeen who has considerable experience in mediation and arbitration.

Practice head(s):Tim Thomas

Lindsays' practice fields a multi-disciplinary team including dispute resolution, corporate, technology, commercial property and estate agency practitioners. The group has particular strength in advising creditors and insolvency practitioners and has substantial distressed property experience; it regularly acts on the disposal of commercial property assets and the disposal of residential property assets being sold out of insolvency requirements. Practice head Douglas Millar also leads the dispute resolution group and has substantial experience in the Court of Session.

Practice head(s):Douglas Millar

The department at MacRoberts LLP is recognised for its contentious insolvency advice. Its client roster includes leading insolvency practitioners in Scotland which it advises on a range of matters from applications to fix remuneration to complex litigation in the Court of Session. Recently, the team has handled an increasing number of cross-border insolvencies and has increased its instructions from insolvency practitioners. Insolvency litigator Leon Breakey leads the group, which also includes property expert Ian Bowie. Alan Meek recently moved to Morton Fraser.

Practice head(s):Leon Breakey

Other key lawyers:Ian Bowie

Testimonials

'MacRoberts fields a well-balanced team, which handles both contentious and non-contentious matters. The practitioners are responsive and deliver actionable and practical advice.'

'Leon Breakey is excellent, calm and measured while Sophia Harrison is a rising star and a real team player.'

Key Clients

Campbell Dallas

KPMG

French Duncan

Alix Partners

WRI Associates

Johnston Carmichael

Wylie & Bisset

FRP Advisory

Mazars

Work highlights

  • Instructed by KPMG as supervisor in the CVA of House of Fraser.
  • Acted for The Underwater Centre on an application to place the company into administration.
  • Advised AlixPartners as liquidators of European Development Company, Verase and European Development Holdings on seeking extensions to the three company's administrations.

Shoosmiths' insolvency sector recoveries unit, led by Rod Macphail, specialises in pre- and post-litigation collections, portfolio management and strategic advice, and book debt recoveries for insolvency practitioners. The group also regularly assists lenders, businesses and individuals with the appointment of administrators, liquidators and trustees in sequestration. Stuart Clubb heads up the general insolvency group and has notable expertise in insolvency litigation, and Andrew Foyle is also a solicitor advocate.

Practice head(s):Stuart Clubb

Other key lawyers:Rod Mcphail; Andrew Foyle

Key Clients

KPMG

Grant Thornton

Campbell Dallas

Middlebrooks Business Recovery & Advice

BDO

Johnston Carmichael

French Duncan

MLM Solutions

Condies Business Recovery & Insolvency Ltd

Leonard Curtis

TLT's client roster encompasses liquidators,insolvency practitioners and creditors, and the team also has experience representing companies and directors in liquidation proceedings. The practice specialises in contentious work, pursuing directors for misfeasance, recovering unlawful payments made from company funds and recovering debtors' assets in personal insolvency cases. Alan Munro leads the group.

Practice head(s):Alan Munro

Testimonials

'Alan Munro is a go-to solicitor when it comes to technical insolvency advice with a common sense commercial understanding of what an insolvency practitioner needs. He is very knowledgeable and commercially astute and clearly has a strong interest in this area of law.'

'The insolvency and corporate recovery team at TLT are in my view one of the key legal teams operating in this area in Scotland. They show a consistently professional, practical and commercial approach to all the cases in which we are involved with them. They are also a pleasure to deal with. I would also consider them to be very reasonable from a cost perspective and the level of senior staff involvement.'

'Alan Munro and his team are solution focused and never too busy to help.'

'Alan Munro is always extremely approachable and shows an extremely good understanding of the position of the Trustee/Liquidator/Administrators in insolvency scenarios.'

'Stephen McGowan is the stand out individual in the market on all property licencing matters.'

'Alan Munro is always happy to provide an informed view on any litigation matter and displays a high technical knowledge at all times.'

'Alan Munro is a diligent and very skilled litigator with a non confrontational style which disguises his incisive lines of questioning.'

Key Clients

Greene King Brewing & Retailing

Johnston Carmichael

Scott Moncrieff

Wylie & Bisset

Work highlights

  • Acting for a national accountancy firm on the sequestration of an individual relating to a claim regarding the sale of a Glasgow hotel.
  • Advising a high street bank on an LPA Receiver style product following the sequestration of the borrower, where the bank is the principal secured lender in a substantial buy-to-let property portfolio.


Investment funds

Index of tables

  1. Investment funds
  2. Leading individuals
  3. Next Generation Partners

Leading individuals

  1. 1

Next Generation Partners

  1. 1

CMS fields four partners in its dedicated funds practice including group co-heads Karagh Gilliatt and Colin Lawrie. The group provides advice on the full spectrum of funds issues to its client base of listed, unauthorised or regulated funds. Recent mandates include the establishment of an investment manager, obtaining regulatory authorisation, back-office and mid-office arrangements including outsourcing arrangements to support the investment fund business; and arrangements with depositaries. Aidan Campbell counts fund providers and distributors as clients and Wendy Colquhoun specialises in structuring outsourced fund platforms and fund administration arrangements.

Practice head(s):Karagh Gilliatt; Colin Lawrie

Other key lawyers:Wendy Colquhoun; Aidan Campbell

Testimonials

'The team really understands the clients' industry and the specific intricacies and nuances, with a good understanding of market practices.'

'The team is commercially focused with good insight on regulatory requirements and regulator views.'

'Aidan Campbell and Karagh Gilliatt both demonstrate a combination of commercial focus with insight on what regulators are looking for.'

Key Clients

Lloyds Banking Group

Standard Life Aberdeen Group

Zurich Assurance

Baillie Gifford

BMO

Smith & Williamson

T. Bailey Fund Services

Kames Capital plc

Citibank Europe plc, UK Branch

Sanlam

Phoenix Group

Aegon

Work highlights

  • Advised Standard Life Investments and Aberdeen Asset Management on the harmonisation of their authorised fund ranges.
  • Acted for Citibank on its appointment as depositary to the £7bn UCITS fund managed by Kames Capital.
  • Instructed by T Bailey Fund Services to advise on the soft closure of the Evenlode Fund.
  • Advised Baillie Gifford on the creation of a master-feeder arrangement.
  • Assisted Sanlam UK with negotiating various outsourced platform, fund administration and custody arrangements with Pershing, Hubwise and IRESS.

Dickson Minto WS counts funds managed by the larger UK fund managers as clients and has maintained its strong position advising boutique and alternative fund managers. Recently, the practice has grown to advise on a number of alternative asset classes including healthcare, student accommodation, renewables, infrastructure and debt. Douglas Armstrong and Bruce Minto jointly lead the group.

Practice head(s):Douglas Armstrong; Bruce Minto

Other key lawyers:Andrew Todd; Colin MacNeill; Duncan Christison

Work highlights

  • Advised the Alliance Trust on the sale of Alliance Trust Savings to Interactive Investor to create a £35bn investment platform.
  • Acted for JPMorgan Multi-Asset Trust on its IPO.
  • Advised on the launch of the Inverleith Private Equity Fund.

Brodies LLP's team, led by Andrew Akintewe, advises on all aspects of investment fund structures and terms including investment companies and unit trusts, offshore vehicles including protected cell companies, classic partnerships and LLPs. Karen Fountain is singled out by clients for 'using her knowledge in a pragmatic manner', and Paul McLaughlin specialises in the various uses of LLPs, general partnerships and SLPs.

Practice head(s):Andrew Akintewe

Other key lawyers:Karen Fountain; Paul McLaughlin

Testimonials

'Karen Fountain is key to the advice provided by Brodies.'

'Brodies fields a small tight-knit group, which delivers an exceptional service with excellent value for money.'

'Karen Fountain is very knowledgeable on the UK investment environment, and uses that knowledge in a pragmatic manner. She is always available and attentive to clients' needs.'

Key Clients

FIM and Gresham House Group

HIPCC and Helios Underwriting PLC

MSCI Inc.

LXB Retail Properties Fund LP

North East Scotland Pension Fund

Promethean Investments LLP

Schulenburg Capital

Arjun Infrastructure Partners

TPG Europe LLP

Grosvenor Estates

Work highlights

  • Advising the Grosvenor Estates on the terms of its investment in a series of private equity, debt and other investment funds.
  • Assisted with restructuring FIM renewable energy funds as well as capital raising projects.
  • Advising North East Scotland Pension Fund, one of Scotland’s major public sector pension funds, on investments into alternative investment funds.
  • Instructed by Arjun Infrastructure Partners to advise on aspects of its acquisition and development of a shareholding in the holding vehicle of a multi-national motorway services area operator.
  • Advised Helios Underwriting and H I PCC on the structure, marketing and establishment of an investment product to give exposure to Lloyd’s underwriting.

At Burness Paull LLP, the team of banking and finance experts, led by Alan Soppitt, is recognised for its private fund formation and partnership work, particularly regarding the structuring, establishment and operation of Scottish limited partnerships. The enhancement of the firm's regulatory team through the appointment of Stuart Murdoch to the partnership has boosted the practice's presence and capabilities in the financial services sector, especially in contentious work. Andrew Christie continues to build the funds finance sub-group, which regularly assists clients with debt and security structures. Paula Kennedy is singled out for her work acting for investors in their investments into alternative investment funds.

Practice head(s):Alan Soppitt

Other key lawyers:Andrew Christie; Paula Kennedy; Stuart Murdoch

Key Clients

Simpson Thacher Bartlett

Proskauer

Kirkland & Ellis

Macfarlanes

EIG

Ardian

Fried Frank

Partners Group

Aberdeen Standard Investments

Work highlights

  • Acted for the European Investment Fund on its co-investment with Hedosophia Gamma II LP in the Series C funding round of N26, a German-headquartered, pan-European mobile bank.
  • Advised Rede Partners on all the UK law partnership issues relating to the formation and operation of a series of ten executive co-investment limited partnerships.
  • Provided Actis with Scottish law structuring advice on several elements of its fund and carry structuring.
  • Assisting Schroder Adveq with the formation and operation of seven Scottish limited partnerships, which were established as fund-of-one vehicles.

The practice at Dentons regularly advises its blue-chip client roster on issues relating to fund financing, regulatory matters, corporate structures and disputes. The firm has notable expertise in handling corporate and banking structures with fund involvement; it leverages the firm's knowledge of tax, insurance and trust law. Claire Armstrong is based in Edinburgh and leads the Scotland asset management offering.

Practice head(s):Claire Armstrong

Other key lawyers:Tim Edward; Owen McLennan

Testimonials

'The breadth of the team and practice areas and the lawyers' ability to draw on different skill sets and expertise is fantastic.'

'The thing that sets Dentons apart is the effort put in to understand clients' individual businesses and complexities with regular informal meetings. The low staff turnover drives a consistent approach with a deep understanding of the matters at hand.'

'The finance experts at Dentons are always there at the end of a phone and able to deal with issues in a constructive way.'

Key Clients

M&G Real Estate

Gatehouse Bank

Target Global Advisors Limited

Aberdeen Standard Asia Focus PLC

Natixis

HPH

Tortoise

Sigma Capital

Work highlights

  • Acted for Gatehouse on the reorganisation of two funds, which manage real estate lettings, including the removal of the existing letting agent and appointment of a new one.
  • Acted on the establishment of a new fund for Target Global Advisors.
  • Handling the issuance of £37m of debt securities for Aberdeen Asian Smaller Companies Investment Trust (now Aberdeen Standard Asia Focus) on the premium debt segment of the London Stock Exchange's main market.
  • Instructed by Tortoise Investment LLC to advise on its acquisition of Ecofin, an FCA-regulated specialist investor in sustainable infrastructure.

Shepherd and Wedderburn has a strong track record in the closed-ended listed funds space; the team also has notable strength representing its asset manager client base and Scottish limited partnerships. Practice head Paul Hally has substantial experience in the investment trust field and has recently been advising clients on the potential impact of Brexit, among other issues.

Practice head(s):Paul Hally

Key Clients

European Assets Trust NV

Baillie Gifford & Co

The Scottish Investment Trust plc

Horizon Infrastructure Partnership LLP

Canadian General Investments, Limited

Nucleus Financial Group Ltd

First State Investment Services (UK) Ltd

Schroder UK Mid Cap Fund plc

F&C Asset Management plc

Blackrock

Alliance Trust plc

Oaktree Opportunities Fund X, L.P

Accrue Capital Group

Hermes Real Estate Investment Management Ltd

Britel Fund Trustees Ltd

Catalyst Capital LLP

Blackstone Group LP

OLIM Property Ltd

Value and Income Trust plc

Scottish American Investment Trust Company plc

Deutsche Asset and Wealth Management

Canada Life Investments

Work highlights

  • Advising on the rationalisation of the structure of European Assets Trust from being a Dutch entity that is managed from the UK, to a UK entity managed in the UK.
  • Acting for Dunedin Property Asset Management on the establishment of a Scottish limited partnership.


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