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Dickson Minto WS is a quietly dominant presence in the Scottish marketplace, with a leading reputation for leveraged and acquisition finance. Practice co-heads Colin McHale and Allan Fraser are highly recommended.

‘One of the top legal firms in Scotland for banking and finance’, Dundas & Wilson CS LLP ‘routinely outperforms others on both service and value’. Caryn Penley’s team advised Barclays Bank on providing £150m of facilities to Guernsey-based property fund UK Commercial Property Trust. Alan Fulton is ‘good at focusing on what is important’.

Maclay Murray & Spens LLP’s finance team is noted for its ‘expert knowledge and useful, constructive advice’, particularly its ‘detailed knowledge of PFI projects and bank requirements’. In 2011 it acted for a club of six banks in the refinancing of John Wood Group’s £800m revolving credit facilities. Practice head Susan Kelly is ‘a very accomplished finance expert’, and Robert Laing is ‘very good at explaining the detail’. Chris Dun is also recommended.

The merger between McGrigors LLP and Pinsent Masons LLP created a team with ‘first-class knowledge’ in the infrastructure and renewable energy sectors. Recent work for the McGrigors team includes advising Forth Ports on the £760m financing of its acquisition by Arcus European Infrastructure Fund, while its counterparts recently acted for Aareal Bank regarding a £350m facility provided to Hercules Unit Trust. John Maciver heads the practice.

Brodies LLP is ‘first choice for renewable energy projects in Scotland’, and also has deep resources to cover property and acquisition financing as well as debt restructuring. In 2011 it acted for Credential Investment Holdings Limited and its subsidiaries in the £200m restructuring of its facilities. Energy and infrastructure finance head Michael Stoneham is ‘able to understand the opposing solicitors ’ point of view and come up with solutions that get the deal done’, and Alan Knowles is ‘hands-on and responsive’.

Renewable energy, real estate and fund finance are core areas for Burness LLP’s ‘prompt and commercial’ banking practice, which includes the ‘exceptionally bright and very hardworking’ Jonathan Heaney and Alan Soppitt, who is ‘the fountain of all legal knowledge’. Highlights for 2011 included advising Bank of Scotland on the £300m debt restructuring of mezzanine facilities provided to Mint Hotels.

Paul Hally’s ‘superb team’ at Shepherd and Wedderburn remains well known for its expertise in energy, real estate and infrastructure finance, despite the departure of energy financing specialist Gordon Hay to CMS Cameron McKenna LLP. In 2011 it acted for Lloyds Banking Group and BNP Paribas on a reserve-based facility and exploration finance facility to Faroe Petroleum. Patrick Bell is ‘a great and affable lawyer’, and Andrew Kinnes is ‘extremely knowledgeable and responsive’.

DLA Piper Scotland LLP has continued to develop its leveraged and acquisition capability since the arrival of David Morton in 2010, supplementing the expertise of Stuart McMillan, who is now joint UK-wide head of project finance. The team represented Lloyds Banking Group in the £22m acquisition financing of IDOX’s acquisition of four companies in 2011.

The team at DWF Biggart Baillie is ‘always prepared to go the extra mile’ to provide its clients with ‘extremely knowledgeable, robust advice’. It has particular experience in the social housing and hospitality sectors, and in 2011 advised Apex Hotels on its £126m refinancing. Grant Docherty is recommended for leveraged finance work, and property finance partner Geoff Stansfield is ‘very assured and outward looking’.

HBJ Gateley made a bid to strengthen its real estate finance offering in 2011 by recruiting Iain Grieve from Burness LLP. This added to the firm’s notable corporate restructuring and shipping finance expertise. Highlight deals for 2011 included acting for Topaz Energy & Marine Limited in its $56m murabaha arrangement with Standard Chartered. David Kirchin heads the team, which includes the ‘especially supportive and calm’ Tom Speirs and shipping finance specialist Alan Shanks.

MacRoberts LLP’s strengths span project, property and corporate finance, and in 2011 it was reappointed to panels of Barclays Bank and Clydesdale Bank. The ‘very knowledgeable and helpful’ Norman Martin leads the practice.

McClure Naismith LLP provides ‘great value for money and considerable experience’ in secured lending matters, including property and asset finance. It has made a concerted effort to develop specialist strength in insolvency, recruiting Mark Parkhouse from McGrigors LLP in 2011. John Blackwood leads the team, which includes Paul Kenneth, who has ‘an excellent understanding and provides great service’.

Morton Fraser’s banking practice combines ‘excellent experience, competitive pricing and pragmatic advice’, and is considered to be ‘in a class of its own when it comes to asset-based lending’. It has secured a place on the majority of the UK retail bank panels, most recently winning appointment to Santander’s UK-wide panels for asset and corporate finance. Practice head Susan Younger is ‘excellent at looking after the client’s interests’, and Hugo Allan has ‘great drive’. John Lunn heads the retail banking team, and asset finance specialist Bruce Wood has ‘the ability to find resolutions to challenging problems’.

Paull & Williamsons LLP’s ‘very experienced team has a wide breadth of knowledge’. It has strong expertise in reserve-based lending, and in 2011 represented Sterling Resources in providing a £105m senior secured loan facility to fund phase one development of the Breagh gas field. Practice head John Kennedy is ‘the leading banking lawyer in the Aberdeen market’, and is supported by Jamie Stark, Alasdair Smith, Helen Dickson and John Strachan, who are ‘all very good at assessing commercial and legal points’.

Tods Murray LLP’s banking team ‘combines legal expertise and a sensible, pragmatic approach’, and is particularly active in the securitisation and capital markets arenas, completing over 40 transactions in 2011. In a reflection of its real estate financing prowess, the team also acted for Bayerische Landesbank on the refinancing of St James Shopping Centre. Graham Burnside leads the team, which includes Hamish Patrick, who has ‘a great depth of knowledge and a constructive approach’, and Roddy Maclennan.

Anderson Strathern’s ‘breadth of expertise and consistent quality of service’ makes it a go-to firm for property-related finance transactions. In 2011 it represented Co-op Bank in £25m of commercial loans to businesses and independent schools. James Blair heads the team, which includes John Kerr and Gillian Anderson, whom clients recommend ‘for the way they move matters forward’.

CMS Cameron McKenna LLP recruited Gordon Hay from Shepherd and Wedderburn, who added his energy sector expertise to ‘a dynamic team with excellent sector experience both at a local and global level’. In 2011 it acted for First Oil in a borrowing base facility from a club of three banks.

Eversheds’ banking practice received a boost with the arrival of senior associate and renewable energy specialist Andrew Fleetwood from Freshfields Bruckhaus Deringer LLP in 2011. Property finance and restructuring continued to dominate the practice, with highlights including acting for Barclays Bank on the acquisition financing of a Scottish mixed office and industrial property portfolio by Highcross.

Harper Macleod LLP draws praise for its ‘strong customer ethos coupled with a high degree of technical capability’. In 2011 it advised HSBC on its £14m refinancing of Bruichladdich Distillery Limited and Lochindaal Distillery Limited. Practice head Lorne Crerar is very highly regarded, and the team was bolstered by the arrival of John Meehan from Semple Fraser LLP.

Lindsays’ banking team was appointed to the regional panels for Clydesdale Bank, Edinburgh University and Kingdom Housing Association. Practice head David Lindgren is ‘very solutions-focused and adept at handling multiple matters’.

Semple Fraser LLP’s ‘attention to detail and willingness to discuss and provide guidance is second to none’, particularly when it comes to the corporate real estate arena. It recently acted for Deutsche Postbank in the refinancing of several Standard Life owned UK development funds. Alex Innes and Douglas Gourlay both have ‘the ability to work to tight timescales and offer impartial judgements’.

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