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Freshfields Bruckhaus Deringer LLP

65 FLEET STREET, LONDON, EC4Y 1HS, ENGLAND
Tel:
Work 020 7936 4000
Fax:
Fax 020 7832 7001
DX:
23 CHANCERY LANE WC2
Web:
www.freshfields.com
Abu Dhabi, Amsterdam, Beijing, Berlin, Brussels, Dubai and 21 more

Top-tier Firm rankings

Firm Rankings

Top-tier Firm rankings


London: Corporate and commercial

Corporate tax
Corporate tax - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP handles a steady stream of large corporate transactions, investment funds and private equity work and capital markets transactions. The tax team is also privy to the increasingly tumultuous legislative landscape and advises its blue-chip client base on tax-risk management, strategic planning and the potential impact of various legal and political developments. Headed by David Haworth, the department fields specialist partners in a number of areas. Helen Lethaby has particular expertise in fund and deal structuring, acting for a range of global investors; Paul Davison leads the finance tax group; Colin Hargreaves, Sarah Falk and Jill Gatehouse are consistently involved in some of the market’s largest corporate finance transactions and restructurings; and Murray Clayson heads the firm’s transfer pricing unit. Significant clients have included household names such as Anheuser-Busch InBev, BT, Tesco, Betfair Group, BP and Honeywell International. Helen Buchanan leads the contentious tax group, but also maintains an active non-contentious practice; Peter Clements and David Taylor are also key contacts.

Leading individuals

Colin Hargreaves - Freshfields Bruckhaus Deringer LLP

David Taylor - Freshfields Bruckhaus Deringer LLP

Murray Clayson - Freshfields Bruckhaus Deringer LLP

Sarah Falk - Freshfields Bruckhaus Deringer LLP

Next generation lawyers

Peter Clements - Freshfields Bruckhaus Deringer LLP

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EU and competition
EU and competition - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Simon Priddis heads the practice at Freshfields Bruckhaus Deringer LLP, which advises clients on transactional, counselling, and investigatory antitrust issues on a cross-jurisdictional basis. Priddis advised London Stock Exchange Group on the EU merger control review of its proposed merger with Deutsche Börse AG worth €24bn, while Rod Carlton was part of the team advising Formula One Group (F1) and its shareholders on the sale of F1 to Liberty Media Corporation, which was cleared by the CMA and in six other jurisdictions following a two-stage acquisition. Deirdre Trapp is advising SSE on a number of matters, including in relation to the CMA’s energy market investigation, and, together with Bea Tormey, on the Ofgem investigation into SSE’s alleged abuse of dominance in the electricity connections market. In other highlights, Alex Potter advised Sysco Corporation on its acquisition of Brakes Group for $3.1bn, which was cleared unconditionally in phase I by the European Commission; and John Davies advised AB InBev on its combination with SAB Miller, which closed in late 2016, and continues to handle ongoing issues related to the integration of the two companies. Also recommended are James Aitken and newly made-up partner Michele Davis, who were part of the team advising CK Hutchison on the antitrust aspects of its proposed acquisition of O2 UK, and Martin McElwee, who represented Rexam on the global merger control aspects of its £4.3bn takeover by US rival Ball Corporation.

Leading individuals

Alex Potter - Freshfields Bruckhaus Deringer LLP

Deirdre Trapp - Freshfields Bruckhaus Deringer LLP

James Aitken - Freshfields Bruckhaus Deringer LLP

John Davies - Freshfields Bruckhaus Deringer LLP

Rod Carlton - Freshfields Bruckhaus Deringer LLP

Simon Priddis - Freshfields Bruckhaus Deringer LLP

Next generation lawyers

Michele Davis - Freshfields Bruckhaus Deringer LLP

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Equity capital markets
Equity capital markets - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP is regarded as having one of the most formidable corporate teams in London. Mark Austin acts for corporates and investment banks on a range of public and private securities offerings and is a member of the Primary Markets Group, which advises the LSE on capital markets issues. Christopher Mort has notable experience of headline listings, and was recently instructed by ConvaTec Group on what was the UK’s largest IPO in 2016. Doug Smith has experience acting for sponsors, issuers and underwriters on a range of capital markets transactions, such as IPOs, secondary offerings and private placements. Specialising in US-securities, Sarah Murphy acts for corporates seeking an opening to the US and international capital markets and Julian Makin is another key contact.

Leading individuals

Mark Austin - Freshfields Bruckhaus Deringer LLP

Sarah Murphy - Freshfields Bruckhaus Deringer LLP

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Financial services
Financial services (contentious) - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Financial services (non-contentious/regulatory) - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLPoozes class’ and represents an eclectic mix of clients in the financial services industry including investment banks, market infrastructure entities and asset management firms across a range of advisory, transactional, investigative and enforcement matters. The team has recently been particularly active on transactional work within the sector, and as well as advising London Stock Exchange (LSE) on its ultimately aborted merger with Deutsche Borse, also acted for it on its acquisition of US financial data business, Mergent. Michael Raffan provided the regulatory input on both the aforementioned matters and is the relationship partner for a number of high-profile clients of the group including Bank of England - which he recently advised on the structure and terms of the Term Funding and Corporate Bond Schemes put in place as part of the Bank of England’s actions in the immediate aftermath of the EU referendum. James Smethurst led on the LSE’s failed merger with Deutsche Borse and in addition to handling transactional mandates has also been involved in many discrete advisory matters including advising clients on Brexit implications and contingency planning. David Rouch is particularly active in the asset management space and is a key member of the team that also includes Mark Kalderon - who is noted for his regulatory expertise on behalf of commercial and investment banks. On the contentious front, the firm excels in representing clients that are the subject of multi-jurisdictional regulatory investigations (often also involving parallel private litigation) and this has been most starkly realised by the firm’s involvement in numerous market manipulation mandates. Simon Orton, David Scott, Andrew Hart, Ian Taylor and Piers Reynolds are recommended.

Leading individuals

Ali Sallaway - Freshfields Bruckhaus Deringer LLP

David Scott - Freshfields Bruckhaus Deringer LLP

Mark Kalderon - Freshfields Bruckhaus Deringer LLP

Michael Raffan - Freshfields Bruckhaus Deringer LLP

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M&A: mid-market, £50m-£250m
Leading individuals

Edward Braham - Freshfields Bruckhaus Deringer LLP

Julian Long - Freshfields Bruckhaus Deringer LLP

Stephen Hewes - Freshfields Bruckhaus Deringer LLP

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M&A: smaller deals, up to £50m
Leading individuals

Edward Braham - Freshfields Bruckhaus Deringer LLP

Julian Long - Freshfields Bruckhaus Deringer LLP

Stephen Hewes - Freshfields Bruckhaus Deringer LLP

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M&A: upper mid-market and premium deals, £250m+
M&A: upper mid-market and premium deals, £250m+ - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Renowned for its multi-jurisdictional M&A capabilities, Freshfields Bruckhaus Deringer LLP’s practice combines world-class transactional strength with a full-service offering, fielding impressive corporate tax, competition and employment teams. The department is best known for its high-profile public M&A work across a wide range of sectors, but is also noted for its experience in private M&A, complex joint ventures and carve-outs. It is headed jointly by Piers Prichard Jones – who advised London Stock Exchange Group on its proposed $28bn merger with Deutsche Börse and on its defence against a takeover offer by Intercontinental Exchange – and Jennifer Bethlehem, who acted for Boehringer Ingelheim on its €20bn asset swap with Sanofi. Simon Marchant acted for AB InBev on its £78.4bn acquisition of SABMiller, constituting the largest-ever takeover of a London-listed company. Stephen Hewes has remarkable experience in technology-sector M&A; he assisted SoftBank Group with its £24.3bn purchase of ARM Holdings – the largest-ever acquisition of a European technology company. He also advised Hewlett Packard Enterprises on the spin-off and merger of its non-core software assets with Micro Focus International. Natasha Good is also recommended for M&A in the TMT sector. Recently promoted partner Charles Hayes acted for Formula One on its $4.4bn sale to Liberty Media. Edward Braham, managing partner Julian Long and Alison Smith, who is especially strong in the retail, consumer and healthcare sectors, are also recommended. In 2016, Will Lawes and Mark Rawlinson departed to go in-house at Lazard and Morgan Stanley, respectively. Ben Spiers joined Simpson Thacher & Bartlett LLP.

Leading individuals

Edward Braham - Freshfields Bruckhaus Deringer LLP

Julian Long - Freshfields Bruckhaus Deringer LLP

Stephen Hewes - Freshfields Bruckhaus Deringer LLP

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Private equity: transactions
Private equity: transactions – Large-cap deal capability - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s breadth and depth of expertise makes it, for many of the world’s largest private equity sponsors, a go-to for assistance with their most complex multi-jurisdictional deals. David Higgins and Adrian Maguire were lead partners in a cross-office team that advised The Carlyle Group on its $3.2bn acquisition of Atotech from Total. In another highlight, a team including Maguire, Sean Pierce, Denise Ryan and recently promoted partner James Scott acted for Advent International on its acquisition of a majority ownership interest in global ship management business V Group from OMERS Private Markets. Charles Hayes, who made partner in 2016, led a team acting for CVC on its $8bn sale of F1 to Liberty Media. Bruce Embley manages the firm’s relationships with TPG and Permira, and assists them with transactions in the EMEA region, while Victoria Sigeti is a key adviser to clients such as Cinven, 3i and General Atlantic. Andrew Hagan joined from Kirkland & Ellis International LLP in 2016.

Leading individuals

Adrian Maguire - Freshfields Bruckhaus Deringer LLP

David Higgins - Freshfields Bruckhaus Deringer LLP

Next generation lawyers

Charles Hayes - Freshfields Bruckhaus Deringer LLP

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London: Crime, fraud and licensing

Fraud: civil
Fraud: civil - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP continues to handle a vast array of multijurisdictional fraud cases involving freezing and search orders, asset tracing and cross-border proceedings. Highlights have included acting for two KPMG receivers in a fraud case against JSC BTA Bank, where a banker was accused of perpetrating a multibillion-pound fraud, and advising three partners of Alvarez & Marsal Europe in a follow-up matter to the JSC BTA Bank v. Ablyazov litigation. Practice head James Kennedy has handled matters across the UK, France, Russia and the Middle East, and other key figures include Matthew Bruce and Philip Croall, who has notable expertise in the Cyprus legal market.

Leading individuals

James Kennedy - Freshfields Bruckhaus Deringer LLP

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London: Dispute resolution

Banking litigation: investment and retail
Banking litigation: investment and retail - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Justifiably a leader for investigations and litigation’, Freshfields Bruckhaus Deringer LLP has a leading global practice for regulatory and dispute resolution work in the financial services sector; and the team, which includes former regulators and prosecutors, acts in the highest-profile investigations. Recent highlights include leading the representation of the senior creditor group in the Lehman Brothers International (Europe) (in administration) (LBIE) Waterfall proceedings, which involved a series of complex and novel banking and insolvency law issues, to determine the allocation of a £7bn surplus; and it advised major financial institutions on their response to co-ordinated regulatory investigations in the US, Europe and Asia into the setting of foreign exchange rates and benchmark interest rates. Simon Orton leads the financial institutions disputes group; many of his cases involve complex financial products or large-scale retail scenarios, and often deal with sensitive, high-profile matters. David Scott heads the firm’s global dispute resolution practice; he has handled numerous high-profile enforcement cases and advised on all aspects of the Financial Services Authority (FSA)’s enforcement process, including proceedings before the Regulatory Decisions Committee and the Upper Tribunal. Former joint head of the global financial institutions sector group Andrew Hart is ‘fantastic’; Christopher Robinsonhas an exceptional legal brain’; and Ian Taylor, Sarah Parkes and Piers Reynolds are other highly rated litigators.

Leading individuals

Andrew Hart - Freshfields Bruckhaus Deringer LLP

Ian Taylor - Freshfields Bruckhaus Deringer LLP

Simon Orton - Freshfields Bruckhaus Deringer LLP

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Commercial litigation
Commercial litigation - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP is highly rated for complex, cross-border commercial litigation and multi-jurisdictional issues. Representative highlights include successfully advising Deutsche Bank (DB) on its high-profile case against Sebastian Holdings, which involved defeating an $8bn counterclaim; obtaining a high-value judgment debt and costs award; and assisting DB in enforcing the judgment debt in the UK and abroad. The team also led the representation of the senior creditor group in the Lehman Brothers International (Europe) (in administration) Waterfall proceedings, which involved complex and novel banking and insolvency law issues, to determine the allocation of a £7bn surplus. The ‘meticulous litigatorSimon Orton leads the financial institutions disputes group; and Patrick Swain’s experience includes advising on M&A-related and shareholder disputes, commercial fraud claims, professional negligence litigation, and contentious insolvency. Matthew Bruce, Geoff Nicholas and James Kennedy are also highly regarded litigators.

Leading individuals

Geoff Nicholas - Freshfields Bruckhaus Deringer LLP

Simon Orton - Freshfields Bruckhaus Deringer LLP

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Competition litigation
Competition litigation - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

The competition litigation team at Freshfields Bruckhaus Deringer LLP continues to be involved in some of the most headline-grabbing cases in the market. Jon Lawrence and Mark Sansom recently represented MasterCard before the Competition Appeal Tribunal, in what was the largest damages claim ever brought in the UK. Lawrence is also coordinating the European defence for Volvo/Renault in relation to claims arising from the Commission’s trucks cartel decision. Rod Carlton and Alastair Chapman are active partners in the antitrust, competition and trade department.

Leading individuals

Jon Lawrence - Freshfields Bruckhaus Deringer LLP

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International arbitration
International arbitration - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLPhas an excellent arbitration team that has profound experience and its knowledge expands from the most senior partner to associates and paralegals’. The practice continued to secure significant, high-profile wins for the firm’s arbitration clients; and it has particular expertise in handling politically and commercially sensitive mandates in challenging circumstances and markets. Nigel Rawding QC’s recent experience includes representing an international telecoms operator in a United Nations Commission on International Trade Law arbitration and related proceedings in Nigeria, regarding a high-value shareholder dispute. Sylvia Noury is particularly noted for emerging markets cases involving Latin America and Africa, and she secured a $100m International Centre for Settlement of Investment Disputes award for Vestey in an arbitration against the Government of Venezuela, relating to the expropriation of its cattle farming business. Reza Mohtashami handles disputes in emerging markets, with a focus on the energy, infrastructure and telecoms sectors. Christopher Pugh and Jane Jenkins are key practitioners.

Leading individuals

Nigel Rawding QC - Freshfields Bruckhaus Deringer LLP

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Public international law
Public international law - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP is best known for inter-state disputes before the International Court of Justice (ICJ); and representing states and investors in investor-state claims, with the London office recently particularly focused on Latin America, the Middle East, Africa and India. It also has a well-established sanctions practice. Examples of work include representing Chile in a dispute with Bolivia before the ICJ, concerning Bolivia’s claim to sovereign access to the Pacific Ocean. Sylvia Noury has particular expertise in the energy, natural resources and telecoms sectors, and advises corporate and government clients; examples of Noury’s work include securing a $100m International Centre for Settlement of Investment Disputes award for Vestey in an arbitration against the Government of Venezuela , which related to the expropriation of its cattle farming business. Reza Mohtashami represents both investors and governments, and has particular expertise in investment treaty arbitrations; Will Thomas’s experience includes successfully defending a Middle Eastern State in the first-ever bilateral investment treaty case brought against it; and Paul Bowden leads the firm’s global business and human rights team. Jean-Paul Dechamps is a key counsel, who has extensive experience in investment disputes in Latin America and other emerging markets, involving the oil and gas, electricity, shipping, mining, and food distribution sectors.

Leading individuals

Sylvia Noury - Freshfields Bruckhaus Deringer LLP

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Tax litigation and investigations
Tax litigation and investigations - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s contentious tax practice is headed by Helen Buchanan and has a history of acting for large corporates and central and investment banks. Buchanan has and active contentious and non-contentious tax practice and has been instructed in transfer pricing and diverted profits disputes in addition to cases involving employment tax, capital gains and tax fraud; she has extensive experience in both UK and international proceedings and is also an accredited mediator. Murray Clayson specialises in international taxation transfer pricing and also handles tax disputes.

Leading individuals

Helen Buchanan - Freshfields Bruckhaus Deringer LLP

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s integrated finance practice has the bandwidth to provide a ‘commercial and flexible service’ to a predominantly borrower focused client base across the spectrum of debt products including European and US Term Loan B and high yield bonds. The firm continues to generate a substantial flow of work from leading private equity sponsors including CVC Capital Partners, which Alex Mitchell and New York-qualified Denise Ryan acted for on the €620m Term Loan B and €25m revolving credit facility in connection with its acquisition of a majority stake in Tipico Group, Germany’s market-leading sports betting provider. Christopher Davis has an excellent reputation in the leveraged finance market and has acted for Cinven on the financing of numerous acquisitions across Europe including on its recent acquisition (alongside Canada Pension Plan Investment Board) of Hotelbeds from TUI. Davis also advised global growth private equity firm, General Atlantic, on the financing for its acquisition of Argus Media. As well as advising private equity sponsors, Sean Pierce also regularly handles financing work for the firm’s vast roster of corporate clients including on their event driven financings. Ward McKimm is also recommended.

Leading individuals

Sean Pierce - Freshfields Bruckhaus Deringer LLP

Next generation lawyers

Christopher Davis - Freshfields Bruckhaus Deringer LLP

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Bank lending: investment grade debt and syndicated loans
Bank lending: investment grade debt and syndicated loans - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Leveraging its impressive roster of firm-wide investment grade corporate clients, Freshfields Bruckhaus Deringer LLP’s primary strength lies in its ‘high-quality’ corporate treasury offering, which enables it to act for an impressive array of FTSE 100 and 250 corporates. David Trott advised CDS (Superstores International) on its £115m multi-currency term and revolving facilities, arranged by HSBC, for general corporate and working capital facilities, and to assist with future growth plans.Sean Pierce recently advised Ahlsell on the related refinancing of banking facilities pursuant to its IPO and listing on Nasdaq Stockholm. Although it is more dominant on the borrower side, the team does handle bank-side mandates as illustrated by Simon Johnson’s recent work for a consortium of banks, including RBS, on the financing provided to Informa plc to facilitate its acquisition of Penton Information Services.

Leading individuals

Alex Mitchell - Freshfields Bruckhaus Deringer LLP

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Corporate restructuring and insolvency
Corporate restructuring and insolvency - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP has a strong market presence on behalf of creditor and debtor clients including funds, corporates, banks and IPs. The firm’s significant high yield capital markets transactional offering ensures that the restructuring team is well-placed to handle mandates involving complex layers of debt including English law governed bank debt and New York law high yield notes. Team head Richard Tett is advising BrightHouse Group on the potential restructuring of its €220m high yield bond due to mature in May 2018. Tett is also providing the restructuring input for HCP on all aspects of its £139m holding in a portion of senior notes issued by Elli Investments and its £28m holding in the senior secured term loan issued by Elli Finance, both in relation to the Four Seasons Health Care Group. The firm’s ability to quickly and effectively mobilise resources across its UK, Asian, European and US offices was recently starkly brought into focus by its work for Hanjin Shipping on its $5.5bn restructuring. Led out of London on the restructuring side by Adam Gallagher but also including input from corporate, litigation and finance lawyers, the mandate is indicative of the team’s ability to provide a cohesive service on significant cross-border matters involving multiple stakeholders. Catherine Balmond has a flourishing reputation both on the creditor and debtor side; she recently acted for Nordea, as agent for the lenders, on the successful restructuring of Luvata Group’s debt as part of a sale process to a US trade buyer. Other recommended partners include Ken Baird, Nick Segal, Ryan Beckwith and Neil Golding. Sean Lacey left in May 2017 to join Kirkland & Ellis International LLP.

Leading individuals

Ken Baird - Freshfields Bruckhaus Deringer LLP

Nick Segal - Freshfields Bruckhaus Deringer LLP

Richard Tett - Freshfields Bruckhaus Deringer LLP

Next generation lawyers

Catherine Balmond - Freshfields Bruckhaus Deringer LLP

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Debt capital markets
Debt capital markets - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

The ‘responsive and flexible’ team at Freshfields Bruckhaus Deringer LLP advises on a wide range of debt transactions, including sovereign bonds, equity linked issuances, liability management exercises, MTN programme updates, establishments and drawdowns, and regulatory capital issuances. The firm’s strong corporate practice generates a large volume of issuer-side work and acts for bookrunners and managers on debt transactions. The London team maintains its reputation for innovative and groundbreaking deals, as illustrated by its work for Axis Bank, Nomura International and others on the first-ever corporate issuance of masala bonds. The landmark deal saw Indian issuer Housing Development Finance Corporation issue INR30bn of notes. Highly respected partner Peter Allen and Duncan Kellaway played pivotal roles in the transaction. Allen’s highlights also included acting for Tullow Oil on a $300m convertible bond issue. Stuart Grider worked with Kellaway on a $1bn issue of guaranteed notes by mobile network operator MTN Group. Sarah Murphy leads the firm’s US corporate group in Europe and Asia and is co-head of the international capital markets practice. She acts for both investment banks and for companies seeking to access the US and international capital markets. Murphy provided specialist US securities advice on a deal that Allen led for issuer PAO Severstal that saw it issue two tranches of convertible bonds with a total value of $450m. Nick Hayday joined Dentons.

Leading individuals

Duncan Kellaway - Freshfields Bruckhaus Deringer LLP

Peter Allen - Freshfields Bruckhaus Deringer LLP

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Derivatives and structured products
Derivatives and structured products - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP has a reputation for innovative structured finance deals. The team is smaller since Simeon Rudin retired and Dougall Molson joined Fieldfisher, but the firm still has a strong bench of structured finance experts. James Grand focuses on derivatives and structured products including pre-contentious issues relating to large-scale closeouts of derivative, loan and securities portfolios and restructurings of structured products. He advised international alternative investment manager Investcorp Credit Management EU Limited on European CLO 2.0 deals, including one offering that was upsized to €413m due to investor demand. The deal exemplifies the strength of the firm’s fully integrated CLO and funds offering in London and New York. Grand also advises numerous financial institutions on bespoke structured credit transactions, including CVA hedging, balance sheet risk transfers and CLOs. Richard Hart has a broad practice that encompasses derivatives, structured products and commodities. He acts for financial institutions, corporates and investors, investment managers and sovereign entities on complex structured equity transactions.

Leading individuals

James Grand - Freshfields Bruckhaus Deringer LLP

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High yield
High yield - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP is ‘certainly getting more traction in the high yield market and has a great platform across Europe’. Co-head of the European leveraged finance group Ward McKimm, who has built the practice’s standing significantly since he moved from Kirkland & Ellis International LLP in 2015, is ‘a great hire for the firm, which is steadily building its reputation in the high yield market’. He joins a team that includes US securities partner and ‘great lawyer’ Simone Bono; Andrew Hagan, who acts for issuers, sponsors, underwriters, investors and other parties on a broad range of SEC-registered and exempted transactions, including high yield bonds; and ‘terrific lawyer’ Denise Ryan, who has an active cross-border leveraged finance practice. Associate Gordon Houseman also plays a key role in the team. Highlights included advising sponsor CVC and issuer Dry Mix on a €150m senior secured notes offering; acting for Hellman & Friedman on the financing of its acquisition of TeamSystem, which included a €450m notes issuance; and assisting Carlson Travel with a $1bn financing to fund the redemption of existing notes.

Leading individuals

Simone Bono - Freshfields Bruckhaus Deringer LLP

Ward McKimm - Freshfields Bruckhaus Deringer LLP

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Securitisation
Securitisation - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP combines complex securitisation, structured products and commodities expertise within one team – as a result, its partners are able to handle a broad range of deal types and asset classes. In the securitisation market the firm has an established track record in landmark transactions for both corporates and banks, and its regulatory team is also a market leader in assisting clients with the implementation of new market rules such as EMIR and MiFID. Although the team saw the retirement of Ian Falconer and Dougall Molson’s move to Fieldfisher in 2016, it continues to have leading lights in Christopher Barratt, whose securitisation practice focuses largely on infrastructure and real estate assets, and Marcus Mackenzie, who predominantly acts on infrastructure and whole-business deals. Senior associate Helen Jones focuses on debt capital market transactions and has experience advising initial purchasers and collateral managers on collateralised loan obligations. Senior associate Keshini Rajan has experience in financial asset and real estate securitisations, and counsel Jenny McIvor acts on whole-business and bank/bond financing deals. Highlights included acting for Virgin Money on the £1.2bn Gosforth 2016-1 RMBS and the £1bn Gosforth 2016-2 RMBS, which was the first securitisation to comply with both European Union and US risk retention rules. Barratt also advised Grays’ Inn Holdings on the £100m securitisation of ground rents, which involved a complex structure, collateralised against pre-existing structures and secured over an evolving portfolio of properties. Derivatives partner James Grand also handled significant CLO deals including a €413m deal for Investcorp Credit Management EU.

Leading individuals

Christopher Barratt - Freshfields Bruckhaus Deringer LLP

Marcus Mackenzie - Freshfields Bruckhaus Deringer LLP

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London: Human resources

Employee share schemes
Employee share schemes - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s ‘highly recommended’ team regularly advises on the incentives aspects of high-value M&A transactions, as well as acting in litigation concerning share schemes. Team co-head Simon Evans has been leading advice to Ferroglobe on governance and executive remuneration issues across multiple jurisdictions. Co-head Alice Greenwell and Nicholas Squire advised Softbank on scheme arrangement issues relating to its £24.3bn takeover of ARM Holdings. Other clients include Pearson and Anheuser-Busch InBev.

Leading individuals

Simon Evans - Freshfields Bruckhaus Deringer LLP

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Employment: employees/unions
Leading individuals

Caroline Stroud - Freshfields Bruckhaus Deringer LLP

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Employment: employers and senior executives
Employment: employers - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s ‘highly recommended’ practice regularly handles the employment aspects of M&A transactions, as well as Employment Tribunal litigation. Practice head Caroline Stroud and Nicholas Squire represented Air Products and Chemicals in Employment Tribunal, Employment Appeals Tribunal and subsequently the Court of Appeal regarding claims of age discrimination arising from share plan rules. Squire also led advice to AB InBev on the employment aspects following the client’s £78.4bn acquisition of SABMiller. Kathleen Healy assisted Deloitte with the cross-border employment aspects of the client’s merger of nine European member firms. The practice also acts for Blackstone on a broad range of employment and partnership issues, including redundancies, employment handbook and tax-related matters.

Leading individuals

Caroline Stroud - Freshfields Bruckhaus Deringer LLP

Next generation lawyers

Nicholas Squire - Freshfields Bruckhaus Deringer LLP

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Pensions
Pensions (non-contentious) - ranked: tier 3

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s team regularly handles the pensions aspects of major corporate transactions. Practice head Charles Magoffin advised the trustees of the Morgan Stanley Pension Plan on a number of complex arrangements. Andrew Murphy led advice to the trustees of the Aggregate Industries Pension Plan on issues arising from a bulk annuity buy-in with Just. Dawn Heath, who has extensive experience in insolvency-related pensions matters, advised the trustees of the Coats Pension Plan on negotiations with Coats concerning regulatory action brought against the company by the Pensions Regulator. The team includes global employment head Caroline Stroud and employment partner Nicholas Squire.

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London: Insurance

Insurance and reinsurance litigation
Insurance and reinsurance litigation - ranked: tier 5

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP focuses on contentious regulatory work and has been acting in investigations conducted by the FCA. It has also represented telecoms, financial and pension sector clients in a plethora of work, ranging from PPI to Financial Ombudsman Service matters and disputes relating to cross-border regulatory investigations. David Scott leads the dispute resolution department and is recommended with counsel Chris Chapman, who became practice head following Raj Parker’s departure to Matrix Chambers.

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Insurance: corporate and regulatory
Insurance: corporate and regulatory - ranked: tier 5

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s expertise spans corporate and M&A transactions, business transfers in the Lloyd’s market, restructurings and regulatory work. George Swan is the key individual, and has advised a number of companies including Phoenix Group, The Hartford, AIG and AXA on a range of mergers and acquisitions, reorganisations and disposals. Neil Golding is the name to note for restructuring and insolvency issues, and regularly advises insurance and reinsurance companies on schemes of arrangement and Part VII transfers with liabilities totalling up to £10bn.

Leading individuals

Philip Richards - Freshfields Bruckhaus Deringer LLP

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Product liability: defendant
Product liability: defendant - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s John Blain heads the practice and is defending Volkswagen against a high-profile group litigation order filed by thousands of motorists regarding the VW Emissions Scandal. Other recent mandates included advice on product portfolios, pharmaceutical products and Consumer Rights Act compliance. Standout companies such as Smith & Nephew and Japan Tobacco International instruct the team. Jonathan Isted co-heads the retail and consumer goods practice and is the other key figure with tobacco sector expert Paul Bowden and Andrew Austin.

Leading individuals

John Blain - Freshfields Bruckhaus Deringer LLP

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London: Investment fund formation and management

Listed funds
Listed funds - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s listed fund work ranges from issuance of new shares through to changes in investment policies. Highlights included advising BACIT (which changed its name to the target’s after the transaction) on its transition from a fund of funds into a life science investment company through the purchase of Synconia from The Wellcome Trust and Cancer Research UK – this was financed by a placing of £357m of new shares. Other clients include Riverstone Energy, which he advised on a policy change to allow it to take over Canadian International Oil, and Greater Pacific Capital. Jonathan Baird joined Hogan Lovells International LLP in August 2017.

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London: Projects, energy and natural resources

Infrastructure (including PFI and PPP)
Infrastructure (including PFI and PPP) - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s Alan Rae Smith has substantial experience in privatisation, PPP and financing work, with an emphasis on large energy infrastructure projects in emerging markets such as Africa and the Middle East. Nicholas Bliss recently retired.

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Mining and minerals
Mining and minerals - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

The metals and mining sector group at Freshfields Bruckhaus Deringer LLP acts for clients across the spectrum of matters, including international disputes. Corporate partner and team head Julian Makin focuses on equity and debt capital markets as well as M&A work. Africa group co-head Gabriel Mpubani handles finance work in the energy, natural resources and infrastructure sectors.

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Oil and gas
Oil and gas - ranked: tier 3

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s energy and natural resources practice handles a wide range of corporate transactions and energy disputes. It has an extensive track record of handling LNG project financings in Africa and Latin America. Graham Watson and the New York-based Elliot Friedman jointly lead the practice.

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Power (including electricity, nuclear and renewables)
Power (including electricity, nuclear and renewables) - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

Key figures in Freshfields Bruckhaus Deringer LLP’s power and renewables practice include Laurie McFadden who acted for the Public Sector Pension Plan of Canada and OTPP on a joint venture with Santander and the acquisition of a global portfolio of renewable energy projects, including onshore wind and solar assets; finance partner Tim Pick; and Alex Carver.

Leading individuals

Tim Pick - Freshfields Bruckhaus Deringer LLP

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London: Public sector

Administrative and public law
Administrative and public law - ranked: tier 3

Freshfields Bruckhaus Deringer LLP

Known for its strength in EU public law, Freshfields Bruckhaus Deringer LLP’s Tom Snelling, together with IP partner Giles Pratt, was retained by Japan Tobacco International to challenge the validity of the TPD in the CJEU, and to bring a major judicial review against the SSH regarding new laws on plain packaging for certain tobacco products; both cases have had a significant impact on the market, with the TPD being upheld by the CJEU and the Supreme Court denying an appeal in the UK proceedings. Nuclear sector work is among the firm’s core industry focuses, with Sally Roe representing EnergySolutions EU (now trading as ATK Energy EU) in a procurement dispute against the Nuclear Decommissioning Authority and how it conducted a tender for contracts to decommission 12 nuclear sites; the case will be appealed in the Supreme Court. The Ministry of Defence, Barnardo's and The AIRE Centre are additional clients of the practice, which includes regulatory and human rights expert Paul Bowden. Recent personnel changes included Will Thomas’s hire from Eversheds Sutherland (France) LLP and Raj Parker’s departure to Matrix Chambers.

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London: Real estate

Commercial property
Commercial property: general - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

Commercial property: hotels and leisure - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

Commercial property: investment - ranked: tier 3

Freshfields Bruckhaus Deringer LLP

At Freshfields Bruckhaus Deringer LLP global head of real estate Mark Wheelhouse advises on large-scale real estate developments and investments, real estate joint ventures and major investment transactions in the hotels and hospitality sector. The team is regularly instructed on the real estate aspects of corporate transactional work and in one recent highlight advised IVG Immobilien on the €3.3bn sale of Officefirst to Blackstone. Other clients include TPG Real Estate, Ares Management Real Estate and Host Hotels & Resorts.

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Construction: contentious and non-contentious
Construction: contentious - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Construction: non-contentious - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s ‘high quality litigators’ include global co-head of major projects Jane Jenkins and public sector co-head Sally Roe. The team advises on major domestic and international disputes in areas such as natural resources, power generation, transport, and real estate development. In the arbitration sphere, Jenkins has expertise in ICC, LCIA, UNCITRAL and ad hoc arbitrations. Both Jenkins and Roe also handle non-contentious mandates, with Roe particularly active on behalf of public sector clients such as the Ministry of Defence. Other practice clients include National Gas Company of Trinidad and Tobago, Almacantar and Urenco.

Leading individuals

Jane Jenkins - Freshfields Bruckhaus Deringer LLP

Sally Roe - Freshfields Bruckhaus Deringer LLP

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Environment
Environment - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s ‘excellent team has many years of experience, delivering quality advice with a firm grasp of business realities’. The impressive contentious practice features a number of key figures, including John Blain, Paul Bowden and Jonathan Isted, who are regularly involved in defending clients in litigation arising from breaches of product regulations or pollution. On the non-contentious side, counsel and nuclear specialist Vanessa Jakovich regularly advises on the environmental aspects of transactions, and on the consenting and operation of major infrastructure and energy projects. The practice is particularly known for its work on behalf of international energy companies, such as Urenco Group and Equion Energia.

Leading individuals

Jonathan Isted - Freshfields Bruckhaus Deringer LLP

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Property finance
Property finance - ranked: tier 2

Freshfields Bruckhaus Deringer LLP

The team at Freshfields Bruckhaus Deringer LLP handles a wide range of property finance work, including loan portfolio transactions, portfolio restructuring, development finance and acquisition finance; it also has noteworthy multi-jurisdictional capabilities. David Trott, who heads the practice jointly with Simon Johnson, acted for TPG Real Estate and its joint venture partner Ivanhoé Cambridge on the €1.4bn refinancing of their European logistics portfolio business P3, and on the ensuing €2.4bn sale of P3 to GIC. In another cross-border matter, Trott assisted Cerberus Capital Management with a €65m facility, arranged by Deutsche Bank, to refinance Cerberus’s acquisition of an Italian commercial real estate portfolio. Johnson advised Bank of America Merrill Lynch as arranger and lender on a £375m loan to refinance Vero Group’s acquisition of a student accommodation portfolio. He also assisted Morgan Stanley Bank and RBC Europe with the £305m refinancing of Vero Group’s Westbourne student housing portfolio. The team is also adept at advising clients on setting up financial platforms: Trott acted for Belmont Green on the establishment of its business and on obtaining £200m-worth of warehouse facilities to fund its residential mortgage lending platform. Flora McLean, securitisation expert Christopher Barratt, senior associate Louise Asbridge, and Maximilian Lang, who splits his time between London and Frankfurt, are also recommended. Jeffrey Rubinoff joined White & Case LLP in July 2016, and Jonathan Birks left for Kirkland & Ellis International LLP in December 2016.

Leading individuals

Simon Johnson - Freshfields Bruckhaus Deringer LLP

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London: Risk advisory

Regulatory investigations and corporate crime
Regulatory investigations and corporate crime - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP has a strong track record in high-profile investigations involving the SFO and FCA, and has handled a significant number of global investigations since the financial crisis in areas such as tax avoidance, precious metals, the London Whale and money laundering. The team advises clients on responses to regulators, and related police investigations and criminal prosecutions, and also has significant expertise in antitrust and competition work. Practice co-heads Matthew Bruce and Geoff Nicholas are the key figures, and Ali Sallaway and Paul Lomas are also recommended. Raj Parker left for Matrix Chambers.

Leading individuals

Ali Sallaway - Freshfields Bruckhaus Deringer LLP

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London: TMT (technology, media and telecoms)

Intellectual property
Intellectual property - ranked: tier 3

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP’s practice works across a number of different areas. Avril Martindale focuses on IP transactions, and recently advised on AB InBev’s acquisition of SABMiller. Giles Pratt, who specialises in transactions, disputes and data privacy, recently represented the tobacco company JTI in its application for a judicial review of the government’s decision on plain packaging rules for certain tobacco products. He also advised Tesco on its sale of several of its businesses, including restaurant chain Giraffe, Dobbies Garden Centres and coffee shops Harris + Hoole. In another highlight, the team acted for Sony Pictures Entertainment in the European Commission’s investigation of pay-TV licensing arrangements between six major Hollywood studios and Sky.

Leading individuals

Justin Watts - WilmerHale

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Media and entertainment (including media finance)
Media and entertainment (including media finance) - ranked: tier 5

Freshfields Bruckhaus Deringer LLP

The corporate, IP, antitrust and finance teams at Freshfields Bruckhaus Deringer LLP handle mandates in the media sector. Clients include digital content creators and broadcasters. David Aitman, Martin McElwee and Giles Pratt are leading Sony Pictures Entertainment (SPE) on the European Commission’s investigation of pay-TV licensing arrangements between six major Hollywood studios and UK broadcaster Sky. Head of corporate Simon Marchant is also noted.

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Pharmaceuticals and biotechnology
Pharmaceuticals and biotechnology - ranked: tier 4

Freshfields Bruckhaus Deringer LLP

Jennifer Bethlehem heads the global healthcare group at Freshfields Bruckhaus Deringer LLP; she advises on M&A and capital markets transactions. Recent highlights include advising Novartis on its inter-conditional strategic transaction with GlaxoSmithKline, and advising Cancer Research UK on the consortium arrangements behind The Francis Crick Institute. Jonathan Isted and Andrew Austin handle multi-jurisdictional product liability cases and sensitive internal and regulatory investigations.

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Latin America: International firms

International arbitration
International arbitration - ranked: tier 1

Freshfields Bruckhaus Deringer LLP

Handling investment treaty as well as commercial arbitration matters, Freshfields Bruckhaus Deringer LLP has ‘in-depth knowledge and experience, consistently delivering top-quality work’, and its ‘expertise in arbitrations with Venezuela is superb’. It secured a $1.4bn award for Crystallex International Corporation in an ICSID dispute with the Bolivarian Republic arising out of the expropriation of an untapped gold mine. Other highlights included representing ConocoPhillips subsidiary Burlington Resources in an expropriation claim against Ecuador involving oil blocks and environmental damage; and acting for Glencore in an arbitration with Colombia relating to investments made in the coal mining sector. The Republic of Guatemala, Saint-Gobain and Engie (GDF Suez) are other clients. Global international arbitration group head Nigel Blackaby, based in Washington DC, has ‘a remarkable ability to explain with sufficient clarity any matters to the client, both in English and Spanish’. He is co-head of the Latin America group, which includes ‘excellent practitionerNoiana Marigo, Elliot Friedman and Brian King in New York; Sylvia Noury in London; and Rome-based counsel Llúis Paradell. Caroline Richard, who ‘is very quick to grasp any new issues that may arise, solving them in a practical manner’, made partner in Washington DC.

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