- How do the awards work?
- The Legal 500 United Kingdom Awards 2013
- The Legal 500 United States Awards 2014 - In-house winners
- The Legal 500 United States Awards 2014 - Law firm winners
- The Legal 500 Latin America Awards (coming soon)
- The Legal 500 Germany Awards (coming soon)
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- Restructuring and insolvency
- Tax: The Big Four
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Legal market overview
The legal market in Spain is displaying resilience despite the country’s debilitated economy, and saw significant movement in 2013. Among the headlines, Baker & McKenzie strengthened its corporate and finance teams with the hire of a nine-partner team from Ramón y Cajal Abogados; Clyde & Co and White & Case LLP made striking entrances to the market, capturing talent from DAC Beachcroft LLP and Latham & Watkins LLP respectively; and Irwin Mitchell sold its Spanish offices to Cremades & Calvo-Sotelo. International mergers saw Salans become part of Dentons, and SJ Berwin become part of King & Wood Mallesons SJ Berwin.
The market saw the emergence of a number of boutique firms set up by senior practitioners, some fleeing the managerial burdens and conflicts of interests to be found within larger structures. Notable launches include the corporate-focused J. Almoguera y Asociados and GTA Villamagna Abogados; dispute resolution boutique Arias SLP; niche environment and energy firm Del Pozo & De La Cuadra; and specialist competition firm DelaCalle Abogados SLP.
For yet another year, restructuring, insolvency and employment work towered above other practice areas, with M&A and real estate deals still hindered by the low level of liquidity in the market. The Spanish IPO market remained closed to issuers, and companies increasingly turned to debt capital markets for financing.
Uría Menéndez, Garrigues and Cuatrecasas, Gonçalves Pereira continue to spearhead the Spanish market, and are progressively diversifying their focus on Latin America. Gómez-Acebo & Pombo Abogados, Baker & McKenzie and Clifford Chance are their nearest challengers.
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Spain has recently been referred to as one of the "hottest" European countries in terms of debt sales, specifically of non-performing loans. This should not come as a surprise in a scenario in which independent audits as of June 2012 revealed a EUR 62 billion capital shortfall in Spanish banks and in which the Spanish rate of non-performing loans stayed above eight per cent of all loans.
On October 11, the Official State Gazette published Law 38/2011 on the reform of Law 22/2003 of July 9 on Bankruptcy that entails a broad and ambitious procedure to modify bankruptcy legislation.
OPINION - ON DATA IN THE CLOUDS OR DIGITAL PHOTOCOPIERS
Chapter IV, Title III of the Bankruptcy Act (hereinafter, the "BA") regulates the filing of actions against the activity of debtors declared bankrupt in order to return to the bankrupt estate certain assets which the legislator considers should never have been taken away.
The employer has the possibility to contest the candidate lists in the event that a candidate does not comply with the conditions for eligibility. The Supreme Court recently confirmed that this is only possible within the strict terms provided in the social elections procedure.
Urgent Measures for the reform of collective bargaining.
Commercial …………………………. Strengthening Financial System Law on a Sustainable Economy
(1) Mercantile: Liberalizing actions in the tax and labor areas in order to encourage investment and create employment. (2) Litigation: Reform of the Penal Code (Organic Law 5/2010 of June 22). (3) Labor: Paternity Leave. Maintenance of employment and professional training. IPREM and SMI for 2011. Self Employed Workers. Pensions. Placement Agencies. (4) Tax: Changes: personal income tax, company tax, income tax for non residents, tax on patrimony transfers and documented legal acts, VAT.
We live in a globalized world where people, goods and money can move freely between national borders. It is perfectly possibly to buy a computer manufactured in Tokyo from a sales company established in Bangladesh, while sitting outdoors on a terrace in Rome. In this context, with transnational commerce and business relations constantly expanding, it is logical that international litigation is becoming increasingly commonplace.
Shortly after the signing of a USD 2.5 billion investment loan agreement, KGHM Polska Miedź announces the completion of another major financing project.
IKB Leasing GmbH (IKBL) has securitized a portfolio of lease receivables via German Mittelstand Equipment Financing SA (GMEF). The European Investment Bank (EIB) was one of the investors in the senior Class A Notes issued by GMEF.
Schoenherr, a leading law firm in Central and Eastern Europe, advised Laakman Holding Limited on the increase of their participation in the listed fund company C-QUADRAT Investment AG from 9.4 % to 18.4 %. read more...
Zavadetskyi Advocates advised a US private equity fund regarding USD 110 million divestiture from Ukrainian commercial real estate project.
Vienna, 28 July 2014. Fellner Wratzfeld & Partners (fwp) advises UniCredit Bank Austria AG on acquiring Immobilien Holding GmbH, which until now was wholly owned by Immobilien Privatstiftung.
AstapovLawyers International Law Group has provided corporate tax consulting and legal advisory to the joint stock oil company Bashneft, one of the Russia's largest integrated oil companies, due to its contemplated expansion into new market in the Southeast Europe.
On 6 June 2014, draft primary legislation to provide the Jersey Financial Services Commission with the power to impose civil financial penalties for material contraventions of the Codes of Practice and the AML/CFT Handbook was published.- Ogier
On 24 July 2014, Wild Bunch S.A. and the listed Senator AG announced their intention to merge into a European independent film distribution company. Wild Bunch is an important player in the field of international film sales and electronic distribution with a Europe-wide network in France, Italy, Germany and Spain. Senator AG is a German film productions and distribution company producing and distributing German and international movies since the 1970s.
Hengeler Mueller has successfully reached a temporary suspension of the prohibition order of the city of Hamburg against Uber, a provider for a smartphone-app for on-demand transportation services. Uber may thus continue providing its services in Hamburg until further notice.