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Bredin Prat

53 QUAI D'ORSAY, 75007 PARIS, FRANCE
Tel:
Work +33 1 44 35 35 35
Email:
Web:
www.bredinprat.com
Brussels, Paris

France

Administrative and public law
Administrative and public law - ranked: tier 4

Bredin Prat

Bredin Prat is entrusted by high-profile companies and public sector bodies to handle strategic matters. The four-lawyer team notably advised on complex regulatory matters pertaining to the media, press and new digital economy sectors and is familiar with the process of challenging the validity of ongoing or new legislation. It is advising Uber on new regulations affecting private transport operators, and is assisting BeIN Sports with broadcasting issues and regulations. The firm is also advising sponsors on major infrastructure projects and public procurement contracts. Yann Aguila heads the practice.

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EU, competition and distribution
EU, competition and distribution - ranked: tier 1

Bredin Prat

Highly regarded for its competition advice at both French and EU levels, Bredin Prat attracts a continous flow of high-profile instructions: in recent highlights, a team around Olivier Billard advised Areva on state aid clearance issues pertaining to its restructuring programme and also continues to assist with merger control aspects of the sale of its subsidiary New NP to EDF. On the contentious front, Robert Saint-Esteben and Marie-Cécile Rameau are representing Unilever and Reckitt Benckiser in their appeal against the FCA’s decision to fine them on the grounds of anticompetitive practices in the home and personal care sector, and Hugues Calvet acted for Orange and its subsidiary in two private damages claims against competitors in the telecoms sector following the FCA’s finding of various abuse of dominant position infractions. Other notable clients include Danone, Europcar and LVMH.

Leading individuals

Hugues Calvet - Bredin Prat

Olivier Billard - Bredin Prat

Robert Saint-Esteben - Bredin Prat

Next generation lawyers

Yelena Trifounovitch - Bredin Prat

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Employment
Employment - ranked: tier 1

Bredin Prat

Bredin Prat’s ‘very highly rated’ 17-lawyer team advises leading French and international corporations on the full spectrum of employment matters, stands out for its ‘deep knowledge and ability on large and complex M&A deals’ and ‘provides responsive and pertinent advice in high stress situations’. The firm recently assisted Zodiac Aerospace with its proposed acquisition by Safran and worked on major restructuring and collective redundancy projects. Finally, the practice also deals with highly sensitive collective and individual litigation: it is representing Uber in a high-stakeselisa case questioning the employment status of some drivers. Air Liquide, Bureau Veritas and Coty are clients. Pascale Lagesse heads the practice and Cyril Gaillard is a key name for sensitive litigation, while for M&A matters, Laetitia Tombarello is praised for her ‘particular ability to grasp the business imperatives and holistic picture’.

Leading individuals

Pascale Lagesse - Bredin Prat

Next generation lawyers

Cyril Gaillard - Bredin Prat

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Insolvency
Insolvency - ranked: tier 2

Bredin Prat

Bredin Prat’s nine-lawyer team ‘quickly dives into a case and understands clients’ needs and objectives’, thereby providing ‘highly satisfactory services’. It also demonstrates ‘intimate knowledge of the key players in the field’ when advising debtors, shareholders and investors, including leading investment funds, on the market’s largest restructuring cases. The firm stands out for its particular ability to deal with listed companies and was recently involved in landmark cases in that respect, while also advising on key LBO related matters. Highlights included assisting Cinven with Camaieu’s second debt restructuring, Flo with its second corporate and financial restructuring, and Areva with its "mandat ad hoc" proceedings. The team is co-headed by Olivier Puech, whose ‘excellent knowledge of his field’ makes him one of the market’s most recognisable figures, and Nicolas Laurent, who shows ‘high level technique and great interpersonal skills’.

Leading individuals

Olivier Puech - Bredin Prat

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Mergers and acquisitions
Mergers and acquisitions - ranked: tier 1

Bredin Prat

Bredin Prat is ‘outstanding on all fronts’ and the sizeable and ‘responsive’ team is praised for its ‘strong involvement of partners in the transactions’. Its broad sector expertise and wide M&A experience makes the team a popular choice for high-profile transactions. Olivier Assant ‘embodies all the qualities one would hope to see in an M&A lawyer’; Patrick Dziewolski is ‘an excellent negotiator’ and Benjamin Kanovitch is ‘an excellent professional’. Kate Romain, Clémence Fallet and Sébastien Prat, senior partner Didier Martin, Sophie Cornette de Saint Cyr, Barthélémy Courteault and Emmanuel Masset are also key players. Recent work includes advising Delfin on the €47bn merger of Luxottica and Essilor and acting for Iliad on its acquisition of Hutchinson 3G Italy Investments from VimpelCom and CK Hutchinson Holdings. Other highlights include assisting Areva with the sale of Areva NP to EDF, and handling the same client’s global restructuring plan. Other clients include Carrefour and Danone. Adrien Simon made partner.

Leading individuals

Benjamin Kanovitch - Bredin Prat

Didier Martin - Bredin Prat

Olivier Assant - Bredin Prat

Patrick Dziewolski - Bredin Prat

Sébastien Prat - Bredin Prat

Next generation lawyers

Clémence Fallet - Bredin Prat

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Tax
Tax - ranked: tier 1

Bredin Prat

Bredin Prat ‘provides a uniquely high level of service that cannot be found anywhere else’. The ‘strong, competitive and very responsive’ 20-lawyer team ‘intelligently guides clients through a variety of situations while staying closely attuned to its clients' risk preferences’; it is also recommended for ‘high-value M&A’, ‘has demonstrated its ability to handle complex litigation work under a very tight timeline and a lot of pressure’ and ‘maintains a very good relationship with tax authorities’. The firm has an impressive M&A tax track record and is advising on the market’s most high-profile transactions: recent highlights include advising Areva on the sale of Areva NP, Luxottica on its combination with Essilor, Zodiac Aerospace on its proposed acquisition by Safran, and Carmila on its merger with Cardety and subsequent IPO. The practice also successfully defended Guy Wildenstein who was cleared of alleged tax fraud by the Paris first degree criminal court in the high-profile Wildenstein case. The team is made up of some of the market’s most recognised leading figures who are ‘all superb advisers’: Yves Rutschmann heads the practice, Pierre-Henri Durand is a key name for M&A work, and Julien Gayral is praised for his ‘in-depth analysis and excellent intellectual reasoning’. Sébastien de Monès is another key contact and Anne Robert made partner.

Leading individuals

Julien Gayral - Bredin Prat (transactional/corporate tax)

Pierre-Henri Durand - Bredin Prat (transactional/corporate tax)

Renaud Streichenberger - Bredin Prat (transactional/corporate tax)

Sébastien de Monès - Bredin Prat (transactional/corporate tax)

Yves Rutschmann - Bredin Prat (transactional/corporate tax)

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France: Banking and finance

Transactional work
Banking and finance: Transactional work - ranked: tier 3

Bredin Prat

Bredin Prat handles acquisition finance, including LBO finance, debt restructuring and real estate financing. Raphaële Courtier’s team includes Samuel Pariente, Karine Sultan and newly-promoted counsel Aurélien Jolly. Principally active for borrowers, but also undertaking work for lenders, the team recently acted for Areva on a partial asset transfer pertaining to Areva’s demerger and handled a €300m bridge finance loan for Areva NP, intended to provide liquidity until the sale of Areva’s reactor business to EDF. AXA, Bridgepoint and Groupe Flo are also clients.

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France: Capital markets

Debt
Other recommended firms - ranked: tier 1

Bredin Prat

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Equity
Capital markets: Equity - ranked: tier 2

Bredin Prat

Bredin Prat is noted for its ‘strong involvement of partners in matters’ and its ‘solid experience in supervising and coordinating foreign firms in cross-border matters’. The team counts IPO and Euronext listings, equity and hybrid securities offerings, and private placements via accelerated bookbuilding among its strengths. Practice head Olivier Saba ‘brings in-depth knowledge of stock exchange regulation and market standards, not only on the legal side, but also on the financial side’ and is noted for his ‘extensive network’. Highlights included advising EDF on a €4bn rights issue involving preferential subscription rights; assisting Sequana and Antalis International with the spin-off and connected IPO of Antalis International shares on Euronext; and acting for Carrefour on the high-profile IPO of Carrefour Brazil. The team also handled instructions from Korian, Direct Energie, Air Liquide and Groupe Flo.

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France: Dispute resolution

Commercial litigation
Dispute resolution: Commercial litigation - ranked: tier 1

Bredin Prat

The ‘very good’ Bredin Prat is a well-established top choice for many leading French corporations in high-stakes corporate and commercial litigation. More recently, the firm has also been sought out by several Silicon Valley corporations to handle sensitive landmark cases. The practice is managing a prestigious caseload including high-profile shareholder and M&A disputes, as well as highly strategic commercial disputes, including handling the market’s first formal class-action for client Foncia. It also represented Areva in the context of its corporate restructuring and nuclear plant delivery issues in Finland, and acted for Uber in proceedings launched by some 3,200 Parisian taxi drivers. Airbnb and Générale de Santé are other clients. Jean-Daniel Bretzner and Florian Bouaziz are highly regarded.

Leading individuals

Jean-Daniel Bretzner - Bredin Prat

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International arbitration
Dispute resolution: International arbitration - ranked: tier 3

Bredin Prat

Bredin Prat provides a ‘very high overall level of service’ including ‘accurate results, responsiveness and great client care’. The 20-lawyer team handles commercial and investment arbitration and is representing the Republic of Croatia, the Arab Republic of Egypt and the Lebanese Republic in ICSID proceedings, while more recently it also attracted new mandates from investors. The ‘very skilled and professional’ team is involved in several investment disputes in relation with the Arabic world and also represented the Republic of Croatia in several matters including an ICSID arbitration over a biomass power plant, and UC Rusal’s subsidiaries (Emergofin and Velbay) in a dispute with Ukraine pertaining to their expropriation from the Zaporozhe aluminium plant. The practice also acted in a landmark execatur case before French courts alongside Tecnimont that dealt with arbitral president independency issues. Particularly recommended is the ‘very experiencedLouis-Christophe Delanoy whose ‘briefs are very clear, detailed and effective’. Raëd Fathallah and Tim Portwood are also key names of the practice.

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Stock-market litigation
Dispute resolution: stock-market litigation - ranked: tier 1

Bredin Prat

Bredin Prat has a unique track record when it comes to strategic stock-market ligation battles. The firm was recently involved in the country’s most high-profile cases and obtained several successful outcomes. It successfully represented Foncière de Paris before the Court of Appel following proceedings launched by Gecina questioning the validity of the French stock-market regulator (AMF)’s decision authorising Eurosic’s tender offer on Foncière de Paris. The practice was also successful before the Court of Cassation in defending Euronext in the landmark Radiall case, in which Euronext rejected the delisting of shares in the context of a tender offer. Other work included major insider dealing cases and AMF’s Enforcement Committee investigations. Eric Dezeuze, Didier Martin and Sylvie Morabia are renowned.

Leading individuals

Didier Martin - Bredin Prat

Sylvie Morabia - Bredin Prat

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White-collar crime
Dispute resolution: White-collar crime - ranked: tier 1

Bredin Prat

Bredin Prat is one of the must sought-after firms for domestic sensitive cases, especially in the stock market, corporate and financial sectors. The practice is involved in a series of landmark tax, fraud, money-laundering and corruption cases for the world's largest French and international companies and banks. Highlights included representing Gecina in a dispute with its former CEO Joaquín Rivero, Mr Wildenstein in the famous eponymous tax estate case, and Airbnb following claims initiated by hotels and travel industry players. It also successfully defended a former member of Altran Technologies’ board in the Altran case. Eric Dezeuze is viewed by many as the very best litigator in town. Also highly recommended are Sébastien Prat and Jean-Daniel Bretzner; Guillaume Pellegrin made partner.

Leading individuals

Eric Dezeuze - Bredin Prat

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France: Private equity

LBO
Other recommended firms - ranked: tier 1

Bredin Prat

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Legal Developments in France

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

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

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  • Prime de Partage des Profits

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

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

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  • Landmark decision by French Competition Authority in conditioned LPG case

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

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

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