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VDA

RUA DOM LU√ćS I, 28, 1200-151 LISBOA, PORTUGAL
Tel:
Work +351 21 311 34 00
Fax:
Fax +351 21 311 34 06
Email:
Web:
www.vda.pt
Dili, Lisbon, Oporto

Portugal

Banking and finance
Banking and finance - ranked: tier 1

VDA

The ‚Äėexcellent‚Äô, 'dynamic' team at VDA¬†is noted for its superb¬†track record. It acts in complex, high-value deals for lenders and borrowers, handles regulatory matters and attracted some innovative work. It advised a banking syndicate consisting of Unicredit, Siemens Bank, BCP, Novo Banco, Demir-Halk Bank, DenizBank and the European Investment Bank on the ‚ā¨240m debt refinancing of six port operators. The matter was led by Pedro Cassiano Santos,¬†who is singled out for his longstanding expertise. Paula Gomes Freire, Cl√°udia da Cruz Almeida¬†and managing associates Tiago Correia Moreira¬†and¬†Benedita Aires¬†are also recommended. Pedro Sim√Ķes Coelho¬†and Hugo Moredo Santos¬†are the other names to note.

Leading individuals

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Capital markets
Capital markets - ranked: tier 1

VDA

VDA¬†advised JP Morgan Securities as arranger and placement agent and Hefesto STC as issuer on the Portuguese law aspects of the ‚ā¨580m securitisation of an NPL portfolio held by Caixa Econ√≥mica Montepio Geral. Paula Gomes Freire¬†led the case, with support from Hugo Moredo Santos¬†and recommended managing associate Orlando Vogler Guin√©.¬†Pedro Cassiano Santos¬†and¬†Jos√© Pedro Fazenda Martins¬†jointly lead the team.

Leading individuals

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

VDA

VDA¬†handles high-value, complex transactions for an impressive roster of clients. It advised MEO ‚Äď Servi√ßos de Comunica√ß√Ķes e Multim√©dia on the¬†‚ā¨660m sale of its telecoms tower business in Portugal and attracted a number of transactions in the financial services sector. The ‚Äėfantastic‚Äô¬†Jorge Bleck¬†is ‚Äėa reference for everything he has done‚Äô; he co-heads the team with Paulo Olavo Cunha. Helena Vaz Pinto, Claudia Cruz Almeida¬†and managing partner¬†Jo√£o Vieira de Almeida¬†are also recommended.

Leading individuals

Jorge Bleck - VDA

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Dispute resolution
Dispute resolution - ranked: tier 1

VDA

‚ÄėAvailable, engaged and efficient‚Äô, VDA's team¬†is representing PT Ventures in a ‚ā¨100m ICSID arbitration against the state of Cape Verde in which the client claims compensation for expropriation following its removal from Cabo Verde Telecom, a company run in partnership between the two parties. The case is being led by practice heads Frederico Gon√ßalves Pereira¬†and Miguel Pinto Cardoso; Miguel Pinto Cardoso¬†is ‚Äėon another level‚Äô, ‚Äėobjective‚Äô and ‚Äėvery strong in court‚Äô.

Leading individuals

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EU and competition
EU and competition - ranked: tier 1

VDA

VDA¬†possesses broad knowledge encompassing all areas of EU and competition law and lawyers ‚Äėalways bear in mind that most issues can easily become litigious and therefore make sure to reduce any risk‚Äô. The team counts several high-profile domestic companies among its clients; it recently advised Meo on the sale of equity stakes in its telecoms tower businesses. Practice head Nuno Ruiz¬†‚Äėpossesses unrivalled knowledge of the applicable statutes and the relevant court decisions‚Äô. Managing associate Rita Aleixo Greg√≥rio¬†and senior associate Cl√°udia Coutinho da Costa¬†are also recommended. Ricardo Bordalo Junqueiro¬†rejoined from Cuatrecasas¬†in February 2018, having initially left in 2013. Miguel Mendes Pereira¬†is another name to note.

Leading individuals

Nuno Ruiz - VDA

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Employment
Employment - ranked: tier 2

VDA

VDA¬†handles the entire gamut of employment matters, including in other Portuguese-speaking jurisdictions. It is representing one of the largest Portuguese private security companies in a case concerning the application of an employment termination provision in the event of appointment to the board. Managing associate¬†Am√©rico Oliveira Fragoso¬†is a ‚Äėwell-seasoned lawyer with deep academic knowledge‚Äô, and both managing associates¬†Tiago Pil√≥¬†and Tiago Cochofel de Azevedo¬†are ‚Äėstrong advisers‚Äô. Pil√≥ heads the team jointly with Rui Andrade.

Next generation lawyers

Américo Oliveira Fragoso - VDA

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Energy and natural resources
Energy and natural resources - ranked: tier 1

VDA

Strong in both oil and gas and renewables, in the former case mostly active in luso- and francophone Africa, VDA advised banks and operators on domestic renewables projects, and domestic and international oil and gas and electricity companies on operations abroad. Manuel Protásio leads the team, Vanda Cascão spearheads the firm’s Green Economy initiative, and João Afonso Fialho the oil and gas practice. Of counsel Rui Amendoeira has a regional focus on Africa; the highly regarded Ana Luís de Sousa made partner.

Leading individuals

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Fraud and white-collar crime
Fraud and white-collar crime - ranked: tier 2

VDA

VDA¬†is ‚Äėdiscreet‚Äô and ‚Äėvery much aware of the surrounding environment‚Äô. It successfully represented Brisa director Vasco de Mello, who was accused by the public prosecutor of insider trading, and it is representing REN in a criminal investigation concerning alleged collusion between the government and the client and EDP at the time of the energy sector liberalisation in the 2000s. The team has also handled cybercrime cases. Sofia Ribeiro Branco¬†is ‚Äėalways available‚Äô and ‚Äėdevelops sound and solid winning strategies‚Äô.

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Insolvency and restructuring
Insolvency and restructuring - ranked: tier 1

VDA

VDA¬†has had roles in some of the country‚Äôs most prominent insolvencies and restructurings, including cross-border matters, handling in- and out-of-court procedures. Frederico Gon√ßalves Pereira¬†and Paulo Olavo Cunha¬†co-head the team; senior adviser Teresa Pit√īrra¬†is recommended. Joana Domingues left in January 2018 for a role in-house at PNCB - Plataforma de Negocia√ß√£o Integrada de Cr√©ditos Banc√°rios.

Leading individuals

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Intellectual property
Intellectual property - ranked: tier 1

VDA

The ‚Äėinnovative and creative‚Äô team at VDA¬†provides 'excellent strategic advice‚Äô primarily on patent litigation and arbitration to clients including Novartis, Boehringer Ingelheim, AstraZeneca, and Merck Sharp & Dohme. It also assisted technology-sector clients with general IP matters, and design clients with trade marks issues. The ‚Äėhugely experienced‚Äô Ant√≥nio de Magalh√£es Cardoso¬†co-leads the team with the recommended¬†Ant√≥nio Andrade. Patr√≠cia Paias left in November 2017 to take up a role in-house at Sandoz.

Leading individuals

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Oporto: leading commercial firms
Oporto: leading commercial firms - ranked: tier 2

VDA

Isabel Gião Andrade heads the Oporto office of VDA, which works closely with the Lisbon team. It advised clients in the funds, manufacturing, energy, healthcare and technology sectors on corporate, tax, employment, public law, GDPR, governance and other internal issues, as well as disputes. It assisted CLdN in setting up a company providing ro-ro services as well as with the group’s reorganisation. STCP - Sociedade de Transportes Colectivos do Porto is another client. Managing associate Frederico Antas, Inês Ribera, João Soares Franco and Benedita Gonçalves are also noted.

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Planning law
Planning law - ranked: tier 2

VDA

VDA advises on planning matters related to domestic real estate and urban projects and disputes, and on infrastructure and energy projects in lusophone Africa. Domestically, the highlight was assisting IFRRU 2020 with the implementation of the financial mechanism for urban renewal and regeneration. Rodrigo Esteves de Oliveira and Raul Mota Cerveira lead the team.

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Projects and project finance
Projects and project finance - ranked: tier 1

VDA

VDA conjoins its strengths in finance, energy and infrastructure to advise lenders and contractors on projects, PPPs, project financing and refinancing, debt restructuring and transactions in Portugal and in lusophone Africa. A domestic highlight was assisting Banco BPI with the financing of a 25MW photovoltaic power plant with no guaranteed remuneration including a third-party power purchase agreement for a period of ten years. Energy specialists Teresa Empis Falcão, Vanda Cascão, and newly promoted partner Ana Luís de Sousa handled the matter. Manuel Protásio heads the practice. Paulo de Barros Baptista specialises in infrastructure and highway projects.

Leading individuals

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Public law
Public law - ranked: tier 1

VDA

VDA¬†‚Äėworks very well as a team‚Äô, assisting high-profile domestic companies and public entities with the full range of public law matters. It represented Elos in arbitration, constitutional, and administrative judicial proceedings against the Portuguese state claiming compensation for the cancellation of a high-speed railway project. Paulo Pinheiro, who is noted for his ‚Äėstrategic legal capacity and leadership vision‚Äô, and Rodrigo Esteves de Oliveira¬†are the key names; they¬†have ‚Äėa practical mindset allied with profound knowledge of public law‚Äô. Catarina Pinto Correia¬†was promoted to the partnership. Managing associates Ana Marta Castro¬†and Andr√© Proen√ßa¬†are also recommended.¬†M√°rio Esteves de Oliveira sadly passed away in 2019.

Leading individuals

M√°rio Esteves de Oliveira - VDA

Next generation lawyers

André Proença - VDA

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Real estate and construction
Real estate and construction - ranked: tier 1

VDA

Solid as a team and individually, the 18-strong practice at VDA¬†is headed by the respected and ‚Äėcollaborative‚Äô Pedro Ferreirinha, who, along with Miguel Marques dos Santos, advises a range of clients on complex and high-value acquisitions and sales of portfolios, offices, retail, hospitality and other commercial as well as residential properties. ‚ÄėIntelligent‚Äô managing associate Pedro Pereira Coutinho¬†provides ‚Äėhands-on‚Äô support.

Leading individuals
Next generation lawyers

Pedro Pereira Coutinho - VDA

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TMT
TMT - ranked: tier 1

VDA

VDA's team includes telecoms expert Margarida Couto, Fernando Resina da Silva, who handles IT and emerging technologies matters, and Magda Cocco, who has a focus on privacy, data protection and cybersecurity. It advised Altice subsidiary Meo on the sale of equity stakes in its telecoms tower businesses, and assisted the Ministry of Science, Technology and Higher Education and the Portuguese Foundation for Science and Technology with drafting an innovative law for a national space strategy, including R&D and access to space by the private sector. The team also handles a variety of TMT matters in other Portuguese-speaking countries.

Leading individuals

Magda Cocco - VDA

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Tax
Tax - ranked: tier 2

VDA

‚ÄėStrong know-how, a 360 degree vision and efficiency‚Äô is what makes¬†VDA's¬†team stand out. It covers direct and indirect tax, litigation and arbitration, and continues to develop its reach in lusophone Africa and East Timor. Advising high-profile domestic and international clients, it has particular expertise in financial tax, recently assisting Banco de Portugal in relation to transactions emerging from the fallout of the financial crisis. Tiago Marreiros Moreira¬†and Joaquim Pedro Lampreia¬†are recommended, as are managing associates Ricardo Seabra Moura, Francisco Cabral Matos¬†and Concei√ß√£o Gamito.¬†Samuel Fernandes de Almeida¬†is another name to note.

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Transport
Transport - ranked: tier 2

VDA

A multidisciplinary practice that pools many of the firm‚Äôs core strengths, VDA¬†covers the entire range of transport matters. Highlight work included representing a charterer in a dispute with a container terminal operator at the port of Luanda following a vessel collision with the terminal‚Äôs pier, and advising J.P. Morgan International Bank on the Portuguese law aspects of an English Law facility agreement to finance an aircraft intended for use in Portugal. Paulo de Barros Baptista,¬†Teresa Empis Falc√£o, who covers infrastructure and mobility matters, aviation finance expert¬†Pedro Sim√Ķes Coelho, and shipping-focused¬†Jo√£o Afonso Fialho¬†are the names to note.

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Legal Developments by:
VDA

  • MOZAMBIQUE | VAT CODE AMENDED

    Law no. 13/2016, of 30 December 2016, which amended and republished the Mozambican VAT Code, was recently rectified by a Notice, dated June 8th.
    - VdA- Vieira de Almeida

Legal Developments in Portugal

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  • MOZAMBIQUE | VAT CODE AMENDED

    Law no. 13/2016, of 30 December 2016, which amended and republished the Mozambican VAT Code, was recently rectified by a Notice, dated June 8th.
  • ARTICLE 29 WORKING PARTY GUIDELINES ON THE EU GENERAL DATA PROTECTION REGULATION

    In order to clarify some of the new obligations stemming from the EU General Data Protection Regulation (‚ÄúGDPR‚ÄĚ), which will apply as of 25th May 2018, the Article 29 Working Party (‚ÄúWP29‚ÄĚ) ‚Äď the independent European consulting body for data protection issues ‚Äď recently issued its ‚ÄúGuidance on Data Protection Impact Assessment (‚ÄúDPIA‚ÄĚ)‚ÄĚ. This document will be available for public consultation until 23rd May, 2017.
  • CNPD APPROVES 10 MEASURES TO PREPARE FOR THE GENERAL DATA PROTECTION REGULATION

    On 28th January, 2017, the Portuguese Data Protection Authority (Comiss√£o Nacional de Prote√ß√£o de Dados/CNPD) published a document establishing 10 measures for entities to prepare for the application of the General Data Protection Regulation (‚ÄúGDPR‚ÄĚ).
  • ANGOLA | NEW REGULATION ON THE LICENSING OF ESTABLISHMENTS AND OF COMMERCIAL ACTIVITY

    Presidential Decree no. 193/17, which approves the Regulation on the Licensing of Establishments and of Commercial Activity and Market Services (‚ÄúRegulation‚ÄĚ), was published on 22 August. The Regulation, which will enter into force on 21 October (60 days after its publication), establishes the conditions and procedures governing the licensing of commercial activities and market services, as well as the licensing of the respective establishments, revoking Presidential Decree no. 288/10, of 30 November (Regulation on the Licensing of Commercial Activity and the Provision of Market Services), as well as all prior regulations on the matter contrary to the provisions of the new Regulation.
  • MOZAMBIQUE | PETROLEUM PRODUCTS SUPPLY

    Ministerial Statute 50/2017, of 11 July 2017, sets forth the measures approved by the Ministry of Mineral Resources and Energy to streamline petroleum products‚Äô import into and supply to the country and ensure fuel supply safety, regularity and quality. The newly approved measures obviously have a direct impact on distributors, but also affect suppliers, IMOPETRO, commercial banks operating in-country and the Banco de Mo√ßambique (‚ÄúBdM‚ÄĚ).
  • Mozambique VAT Code Amended

    Law no. 13/2016, of 30 December 2016, which amended and republished the Mozambican VAT Code, was recently rectified by a Notice, dated June 8th.
  • COMPANIES CODE AMENDED

    Decree-Law 79/2017, of 30 June 2017, was published last Friday and amends both the Insolvency and Corporate Recovery Code and the Companies Code, in order to implement the goals of the ‚ÄúPrograma Capitalizar‚ÄĚ approved by Council of Ministers Resolution 42/2016, of 18 August 2016
  • ANGOLA | SIGNIFICANT AMENDMENTS TO REGULATIONS ON THE PERFORMANCE OF A PROFESSIONAL

    Please be aware that a new Presidential Decree has been published on 24th of April (Presidential Decree 79/17 of 24 April) which, among others, introduces the following significant amendments to former Presidential decree 43/17 of 6 March (regulations on the performance of a professional activity by nonresident foreign employees ):
  • PROHIBITION ON ISSUE OF BEARER SHARES

    Bearer securities have been prohibited under Law 15/2017, of May 3, 2017, published today. The Companies Code and the Securities Code have been amended in order to implement this measure.
  • ANGOLA | NEW REGULATIONS ON THE PERFORMANCE OF A PROFESSIONAL ACTIVITY BY NON-RESIDENT

    Presidential Decree 43/17, of 6 March 2017 (‚ÄúDP 43/17‚ÄĚ) just enacted new regulations on the performance of a professional activity by non-resident foreign workers, repealing former Decrees 5/95, of 7 April 1995 and 6/01, of 19 January 2001.