The Legal 500

Within Corporate tax, Freshfields Bruckhaus Deringer LLP is a first tier firm,

With 50 fee-earners working across its tax practice, Freshfields Bruckhaus Deringer LLP is praised for its ‘real appreciation of underlying commercial issues and flexibility in finding appropriate solutions’. The full-service department covers all aspects of tax work, from corporate transactions to real estate and financing deals, providing ‘technical analysis of a very high order’. In 2008 it worked on the recapitalisation of many of the UK’s largest financial institutions including RBS, HBOS, Barclays, and Bradford & Bingley, as well as acting for BAA on the £13.3bn refinancing of its UK airports. Murray Clayson, Colin Hargreaves and Susan Porter are recommended.

Within Equity capital markets -UK capability, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP is seen by many as the ‘go-to’ firm for underwriter-side ECM work, with key clients including Morgan Stanley, Merrill Lynch, Goldman Sachs, Citigroup, UBS, JPMorgan Cazenove and Credit Suisse. Led by Stephen Revell, the ‘obviously first-tier’ firm’s ‘dominance’ saw it ‘clean up’ on the recent spate of rights issues, acting on the underwriter side of those by HBOS (£4bn), RBS (£12bn) and Centrica (£3.1bn). Simon Witty, Julian Makin, Will Lawes and Chris Mort are all highly recommended.

Within Equity capital markets -US capability, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Led by Sarah Murphy, Freshfields Bruckhaus Deringer LLP secured instructions on a number of the largest rights issues in the market, advising the underwriters on those by HBOS (£4bn), RBS (£12bn), and Centrica (£3.1bn). The firm is also known for its strength in German ECM work. Don Guiney and Ken Martin are recommended.

Within EU and competition , Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP’s remains at the forefront of virtually every area of the EU and competition field. Key instructions included advising the Bank of England on the financial crisis and the resultant consolidation in the banking sector; representing Dunlop Oil & Marine on the high-profile marine hoses cartel investigation; and advising Northern Rock on the state aid aspects of temporary government ownership. ‘Solutions-driven’ and ‘technically accomplished’ partner Deirdre Trapp also achieved a significant victory for Tesco in the CAT. Other urbane and polished practitioners include leading competition litigator Jon Lawrence (an ‘excellent strategist’, ‘aggressive when necessary’, ‘one of the best’); fellow ‘ruthless litigator’ and ‘master of the detail’ William Robinson, cartels specialist Bea Tormey, the immensely experienced David Aitman, Rod Carlton; and senior figures Nicholas Spearing (‘fantastically good’ at Competition Commission hearings); Rachel Brandenburger; John Davies; and former OFT director Simon Priddis (‘excellent technical knowledge’, ‘sound judgement’). Regulators generally regard the firm as having the ‘slickest’ and most technically accomplished practice in the City.

Within Financial services, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP has been active in regulatory roles arising from the credit crunch and banking crisis. The team represented the Bank of England in relation to the Special Liquidity Scheme, and also advised in relation to the collapse of Lehman Brothers, the resolution of Northern Rock, and the UK operations of the Icelandic banks. Other work included acting for Aon in relation to regulatory issues concerning third party payments from commissions. Michael Raffan is highly recommended.

Within M&A - upper mid-market and premium deals, £250m+, Freshfields Bruckhaus Deringer LLP is a first tier firm,

As with many firms, distressed M&A was a theme of the latter half of 2008 for Freshfields Bruckhaus Deringer LLP and there was nothing to rival some of the highlights of 2007 for size - such as advising ICI on its £8.1bn takeover by Akzo Nobel. Nevertheless the firm’s four sector-focused teams (including private equity and financial institutions) were not inactive, completing 83 deals at an average of just under £1bn. One of these was advising US corporate Best Buy on its US$2.1bn acquisition of 50% of the Carphone Warehouse’s retail interests. The firm’s German practice also remains a distinguishing strength. The team is ‘strong right the way down from partner to junior associate’, with noted partners including Mark Rawlinson, Barry O’Brien, Edward Braham, Will Lawes, Julian Long and Laurie McFadden.

Within M&A - upper mid-market and premium deals, £250m+, Freshfields Bruckhaus Deringer LLP is a first tier firm,

‘The best of the best’ in the view of one investment bank, Skadden, Arps, Slate, Meagher & Flom (UK) LLP is a top-tier global M&A powerhouse that is frequently seen taking a leading role on the largest M&A transactions in Europe. Its London team is smaller than any other firm in the upper tiers of this table, and it will frequently refer out deals that are not cross-border, but it is not short of UK-qualified stars: Michael Hatchard, ‘technical wizard’ Allan Murray-Jones, ‘man for all seasons’ Adrian Knight and rising star Shaun Lascelles all stand out. Acting for Nomura on the negotiation side of its acquisition of Lehman’s European and Asian businesses while Freshfields Bruckhaus Deringer LLP handled the integration is a good example of its strategy. US-qualified Scott Simpson is also ‘a truly exceptional lawyer’.

Within M&A - US law capability, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP is ‘great for high-end M&A, especially where there is a UK equity financing link’. The team advised Petroplus Holdings on its US$785m acquisition of French oil refineries from Royal Dutch Shell. The ‘commercially astute’ Jeff Roberts provides ‘sound legal analysis’.

Within Outsourcing and procurement, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Richard Lister heads Freshfields Bruckhaus Deringer LLP’s outsourcing practice, and is ‘the key contact for any potentially difficult international transactions’. Sally Roe co-heads the public sector group and recently advised the Department of Health on outsourcing arrangements in preparation for a flu pandemic.

Within Overview,

Against this background, our corporate rankings remain largely unchanged. The City elite - Allen & Overy LLP, Clifford Chance, Freshfields Bruckhaus Deringer LLP, Herbert Smith LLP, Linklaters LLP and Slaughter and May - continue to dominate proceedings, and once again comprise the top two tiers of both Mergers and acquisitions and Equity capital markets: UK capability. However, with leveraged transactions one of the principle casualties of the credit crunch, Clifford Chance’s reliance on private equity has seen it fall back to the second tier in M&A following its promotion last year. These top firms are also increasingly dipping into the already fiercely competitive mid market.

Within Overview,

On the equity capital markets side, IPO activity is at an all-time low. A spate of high-profile rescue rights offerings provided some much needed relief - with the market’s two dominant figures, Linklaters LLP and Freshfields Bruckhaus Deringer LLP, showing particularly well - but teams have mostly had to make do with (less remunerative) secondaries and private placements.

Within Private equity , Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP’s deep resources attract a diverse range of premium clients, notably UK-based giants Cinven and Apax, international investor Advent International, and US stalwarts Cerberus and Hellman & Friedman. As with many firms geared towards larger deals, infrastructure work was a saving grace in 2008. Highlights included advising a consortium of investors on the acquisition of Welcome Break. Christopher Bown heads the 12-partner team.

Within VAT and indirect tax, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Despite the departure of Alan Sinyor, Freshfields Bruckhaus Deringer LLP remains strong in indirect tax matters. Clients include General Motors, National Grid, Reed Elsevier and Rolls-Royce. Robert Kent is recommended.

Within Fraud - commercial and regulatory investigations, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Highlights for Freshfields Bruckhaus Deringer LLP in 2008 included acting for the Brunei Investment Agency (BIA) in the recovery of millions of pounds through enforcing its settlement agreement with Prince Jefri of Brunei. The London fraud practice gained three significant new partners in 2008, in Aaron Marcu and Adam Siegel (from Covington & Burling LLP) and Benito Romano from Willkie Farr & Gallagher LLP. Paul Lomas and Lindsay Marr are key figures.

Within Licensing, gaming and betting, tier 4

Freshfields Bruckhaus Deringer LLP advised the National Lottery Commission on IP and data protection issues and finalising the third licence to run the National Lottery, while other clients include Eurobet UK and William Hill.

Within Banking litigation, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP is frequently applauded for both investment and retail banking work. It is acting for HSBC in connection with the OFT bank charges case, and a number of investment banks in relation to the collapse of Lehman Brothers. Clients highlight the ‘uniformly strong’, ‘practical’ and ‘commercial’ team, which ‘plugs into our business’. The firm is widely regarded as having the leading contentious regulatory department in the City, thanks to its natural pragmatism and urbane approach; it ‘doesn’t ruffle too many feathers’ when dealing with regulators and ‘doesn’t instigate a war of attrition’. Andrew Hart (‘very highly regarded’) heads the department, which includes Ian Taylor (‘head and shoulders above the rest of the market’); Simon Orton (‘very clever’, ‘thoughtful’, ‘terrier like’), who is recommended for contentious regulatory matters; and David Scott.

Within Commercial litigation, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Praised for its ‘excellent service’, Freshfields Bruckhaus Deringer LLP’s litigation department is, in the words of one client, ‘in all respects, exemplary. You get what you pay for and we paid for the best and we got it’. The lawyers are all ‘very responsive and good at managing the relationships with their colleagues in different offices’. Chris Pugh heads the team, which recently advised Brookfield Constructions on its £353m dispute with Mott MacDonald, relating to the design and construction of Wembley Stadium, and the firm has also been advising F Hoffmann-La Roche in its defence of vitamins cartel-related damages claims. Among the partners, the ‘outstanding’ Paul Lomas is singled out for praise, as are Paul Bowden and James Kennedy.

Within International arbitration, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP’s first-class group continues to attract excellent feedback from clients and peers alike, who say it is ‘one of the most efficient and respected firms in international arbitration’, and ‘never operates at any level but the highest’. Constantine Partasides heads the team, which includes Nigel Rawding, Christopher Pugh and Geoff Nicholas, and a ‘universally excellent’ group of associates. Recently it represented MTN Group in a dispute relating to its acquisition of an African telecoms company. Other major clients include ConocoPhillips, Itera, National Grid and WPP.

Within Overview,

Thus far, the main beneficiaries have been those firms with strong backgrounds in banking and commodities, sectors which were the first victims of the fallout of the credit crunch and the resultant downturn. The former category is largely made up of Magic Circle and major City firms, such as Allen & Overy LLP, Clifford Chance, Freshfields Bruckhaus Deringer LLP, Linklaters LLP, Herbert Smith LLP, Lovells LLP, Simmons & Simmons, and Slaughter and May, all of which have excellent track records in financial services related disputes. In the latter, firms with strong experience in areas such as shipping, including Clyde & Co LLP, Ince & Co, and Holman Fenwick Willan LLP, have benefited from an uptick in disputes, thanks largely to major fluctuations in commodities prices.

Within Public international law, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Led by Constantine Partasides, Freshfields Bruckhaus Deringer LLP’s expertise encompasses international financing and infrastructure projects, environment-related disputes, international human rights and investment treaty arbitration. The firm is currently acting for the ConocoPhillips Company and various Dutch subsidiaries in ICSID arbitration against Venezuela under the Netherlands/Venezuela bilateral investment treaty and the Venezuelan Foreign Investment Law. The firm is also representing the Republic of South Africa in defending a claim brought under bilateral investment treaties by foreign investors in the South African minerals sector.

Within Tax litigation, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP brings together ‘heavy-hitting’ tax and dispute resolution practitioners to field a strong contentious tax team acting on large and complex matters. It continues to act for AstraZeneca against HMRC concerning both the transfer pricing and controlled foreign companies legislation. The hearing is set down for 2010 and will be of significant importance to multinationals. Helen Buchanan and Philip Croall are recommended.

Within Acquisition finance, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP continues to gain instructions from its quality borrower clients, and was instructed on a number of debt buyback transactions in 2008. Its strength in restructuring and recent efforts to build its banking client base have also sustained its popularity with lenders. Key partners include David Winfield, Mike Goetz and the ‘amazing’ Maurice Allen, while recently promoted partner Alex Mitchell is making an impact, notably advising Macquarie on the financing of its acquisition of Condor Ferries.

Within Asset finance and leasing, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Having gone through a period of consolidation and reorganisation, Freshfields Bruckhaus Deringer LLP’s asset finance practice has emerged a strong contender. What it may lack in size, it more than makes up for in ‘thoroughness’ and a ‘deep bench’ of wider structured finance specialists. Simon Hall and Richard Phillips advised a consortium led by Babcock & Brown on the Angel Trains transaction. Aircraft financing is a particular strength, with Robert Murphy highlighted for his ‘pragmatism and deep knowledge of the market’. Recent highlights include advising AerCap on the purchase and leaseback of 19 Boeing aircraft from Tui Travel Group.

Within Bank lending - investment grade debt and syndicated loans , Freshfields Bruckhaus Deringer LLP is a second tier firm,

Frequently involved in significant financings for the firm’s impressive roster of blue-chip corporates, including AstraZeneca, Nestlé, Xstrata and Japan Tobacco, Freshfields Bruckhaus Deringer LLP is a major player in the market. Significant investment grade highlights included advising BAA on the £13.3bn refinancing of its UK airports, and Nestlé on a €5bn revolving credit facility for general corporate purposes. On the banking side, despite a paucity of new money deals, new additions Maurice Allen and Mike Goetz have been particularly active advising banks on workouts on leveraged deals. David Winfield heads a 19-partner team that includes recommended partners Edward Evans, Presley Warner, and rising stars Peter Hall and Martin Hutchings.

Within Corporate restructuring and insolvency, Freshfields Bruckhaus Deringer LLP is a first tier firm,

‘A very strong law firm which brings a practical, solution-orientated approach to restructurings’, Freshfields Bruckhaus Deringer LLP has - as well as its continued role for Northern Rock - also picked up high-profile mandates for Woolworths and for the joint administrators of Icelandic bank Kaupthing Singer & Friedlander. With the benefit of the firm’s significant international network, the team is regularly called on to advise clients on multi-jurisdictional matters, and recently advised Spanish corporate Inmobiliaria Colonial on the restructuring of its €7bn debt. ‘A tier-one practitioner’, Ken Baird leads a team that includes the ‘very commercial and practical’ Chris Howard; the ‘highly experienced’ Richard Tett; Nick Segal; and Adam Gallagher.

Within Debt capital markets, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP is ‘better placed to act for corporates than other players’. Corporate clients include mining company Xstrata, but advising on the debt elements of BAA’s £13bn UK airports refinancing, and acting for Alpha Bank on the Hellenic Republic’s €500m issue indicate the breadth of the practice. The team features partners such as Mark Trapnel, Stephen Revell, Monica McConville and Julian Makin, and is ‘very commercial, very impressive’, with ‘excellent knowledge’.

Within Derivatives and structured products, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Clients praise experienced partners such as Simeon Rudin, James Grand and Jonathan Shann at Freshfields Bruckhaus Deringer LLP, ‘a first port of call’ for the likes of JPMorgan and Deutsche Bank. The firm advised Goldman Sachs on restructuring the Whistlejacket SIV, including auctioning part of its US$5bn asset portfolio.

Within High yield, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Under the leadership of ‘convincing and hard-working’ partner Sarah Murphy, Freshfields Bruckhaus Deringer LLP’s practice rises in the ranking this year. With a client base rich in European issuers, the practice is ‘commercial’, ‘reliable’ and well positioned to continue to grow its profile in the area. The team recently won a key role advising the issuers in Fresenius’ high yield offering.

Within Investment funds, tier 4

Mark Watterson’s four-partner team at Freshfields Bruckhaus Deringer LLP covers all aspects of the funds market. A recent highlight was working as issuer’s counsel on the IPO of BH Global, a Guernsey closed-ended investment company. Jonathan Baird is recommended for listed funds, Karen Fountain for private funds, and David Rouch for retail funds.

Within Overview,

Restructuring has been the most buoyant of the practice areas, and the real winner here was Linklaters LLP, which secured the headline appointment for the UK administrators of Lehman Brothers. Other firms which fared particularly well were Slaughter and May, off the back of its advice to the Treasury on the recapitalisation of the banks, and Freshfields Bruckhaus Deringer LLP, with its involvement in the insolvency of Woolworths and its continued advice to Northern Rock, amongst other high-profile mandates. With new money deals a scarcity as banks seek to rebuild their balance sheets, restructuring has also shaped much of the work covered within many of the other finance practice areas.

Within Securitisation, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP benefits from the expertise of Stuart Axford, who is ‘very sensible, very good technically’, and Ian Falconer, ‘one of the godfathers of securitisation’. Marcus Mackenzie and Alan Newton also stand out in a versatile team that benefits from close ties to the Bank of England. Central bank liquidity transactions and the restructuring of distressed deals tie in with the firm’s strong regulatory practice. It advised BAA on its £13bn refinancing of UK Airports, and counts Citigroup, Calyon and Goldman Sachs as clients.

Within Employee share schemes, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Part of the firm’s employment, pensions and benefits practice, Freshfields Bruckhaus Deringer LLP’s employee share schemes team is ‘really commercial’, offering clients ‘practical advice and good knowledge of the subject’. It boosted its cross-border practice over the past 12 months, implementing international schemes for Hays, Pearson, Telecity, and Low & Bonar; in the case of Pearson, over 60 countries were involved. Jocelyn Mitchell is praised for her ‘prompt, commercial and considered advice’, while Simon Evans is ‘really knowledgeable, thoughtful and client focused’.

Within Employment, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP fields a ‘strong and well-run team’ that was instructed by Ernst & Young to advise on the employment aspects of the administration of Icelandic banks Kaupthing Singer & Friedlander Ltd and Heritable Bank plc. Nicholas Squire is recommended for his grasp of ‘complex technical issues and ability to convey them back to those not legally trained or familiar with dealing with unusual aspects of employment law’. Clients single out Caroline Stroud and Kathleen Healy for their ‘calm and unflappable approach’.

Within Health and safety, tier 4

Freshfields Bruckhaus Deringer LLP attracts praise for its ‘fast, efficient, professional and friendly service’ and ‘sound business and industry knowledge’. Jonathan Isted is noted for his ‘solid H&S knowledge’ and ‘tactical approach’. Key clients include Brookfield Construction (UK) Ltd and British Nuclear Fuels plc.

Within Pensions (incl pensions dispute resolution), Freshfields Bruckhaus Deringer LLP is a first tier firm,

The pensions team at Freshfields Bruckhaus Deringer LLP draws on its ‘extensive experience’ in a ‘pragmatic yet diligent way’ on ‘groundbreaking deals’. On novel issues ‘the most senior people offer a service that is second to none’. ‘There seems little David Pollard has not come across before’, notes one client, ‘and he is able to adapt his experience to fit new circumstances’. Major disputes work is undertaken by Caroline Stroud, who is described as ‘robust’, ‘engaging’, and good at ‘problem solving’. Associate Holly Insley wins praise for ‘working diligently through the intricacies of deals’. For international pensions matters, the firm has a strong complementary offering in key jurisdictions.

Within Insurance - corporate and regulatory, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP’s team has ‘very good technical knowledge’. Robert Stirling has a ‘very commercial and sensible approach’, and Philip Richards is an ‘extremely able tactician and negotiator’. James Smethurst is ‘technically very good’ on the regulatory side, and Simeon Rudin is ‘absolutely first rate’ for structured products. An enviable client list includes household names such as Barclays, Generali, HSBC, and Marsh & McLennan. Standout deals included advising the Pearl Group on its £4.9bn acquisition of Resolution, the FTSE 100 life insurer. Ian Poynton has moved back to London from Dubai.

Within Insurance - insolvency and restructuring, Freshfields Bruckhaus Deringer LLP is a first tier firm,

At Freshfields Bruckhaus Deringer LLP, the ‘highly regarded’ Neil Golding heads the department, with Robert Stirling and Matthew Cosans also recommended on the non-contentious side. Areas of strength include cross-border deals; highlights include advising the various officeholders appointed over the HIH group (which has some 250 members) on the largest collapse in Australian history. Clients include leading names in the insurance industry such as The Hartford Group, AIG and Ernst & Young. ‘Calm under pressure’ senior associate Nick Stern joined the team from Edwards Angell Palmer & Dodge UK LLP.

Within Insurance and reinsurance litigation, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP’s track record includes technically complex disputes and regulatory investigations with clients seeking advice in ‘bet the company’ situations. One such high-profile example was advising Aon in a number of jurisdictions on regulatory issues concerning third party payments from commissions. Raj Parker takes ‘quick and sensible decisions’, and Ali Sallaway ‘knows the market very well’. Clients include the UK branch of AIG Life, and Prudential. The firm’s payment protection insurance (PPI) practice had a busy year, including advising Alliance & Leicester on an FSA investigation into telesales of PPI on unsecured loans.

Within Product liability - defendant, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP has an ‘extremely strong team, with a stunning breath of activity, unmatched in the sphere of pharmaceutical work, chemicals and tobacco’. In addition to Heinz and Mitsui & Co Europe, the team is acting for JT International SA on matters relating to healthcare costs caused by smoking. The team is headed by John Blain and includes Paul Bowden, who is viewed as ‘one of the leading practitioners in product liability’, and Andrew Austin, who is ‘a rising star with a very bright future’.

Within Professional negligence, tier 5

Focusing on complex, high-value work, Freshfields Bruckhaus Deringer LLP is particularly experienced in defending financial institutions and accountancy firms against negligence claims. Part of a ‘team that does an excellent job’, Raj Parker and Sarah Parkes are singled out for praise by clients.

Within Infrastructure, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP ‘impressively keeps on top of the detail with things that need to happen a few months down the track’, and displays ‘a thorough knowledge of the market’. Rail and infrastructure funds are active areas, but the major highlight for 2008 was advising BAA on the £13.3bn refinancing of its UK airports. Joint head of infrastructure Nicholas Bliss is ‘no nonsense and gets the job done’, while the ‘deep bench’ also includes the ‘commercial’ Edward Braham and Alex Carver.

Within Mining and minerals, Freshfields Bruckhaus Deringer LLP is a second tier firm,

The backbone of Freshfields Bruckhaus Deringer LLP’s mining practice is corporate and disputes work for clients such as Anglo American, Rio Tinto Alcan, and Glencore. Recent mandates include advising Xstrata on its £4.1bn rights issue and US$2bn related-party acquisition of Colombian coal mining operation Prodeco from Glencore.

Within Oil and gas, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP’s oil and gas work is concentrated around corporate and litigation matters for clients such as BP, Chevron and Exxon Mobil. In a highlight, 2008 saw the firm advise international oil and gas well flow management company Expro International Group on its acquisition by Umbrellastream; the recommended final cash offer valued Expro at £1.81bn.

Within Power (including electricity, nuclear and renewables) , Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP appointed Laurie McFadden as joint energy head in 2009 following Simon Marchant’s designation as Asia regional managing partner. The firm recently advised E.ON on its joint venture with RWE to develop new nuclear power stations in the UK.

Within Private finance initiative(PFI) , Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP advised the lenders (a club of 14 international and regional banks led by Bank of Tokyo-Mitsubishi) on the US$1.2bn non-recourse project financing for the delivery of the YahSat Satellite Project. Alex Carver and Nicholas Bliss co-lead a ‘pragmatic’ team that boasts a ‘deep bench’ and ‘clearly explains the legal principles to allow clients to make a balanced commercial decision’. Other representative clients are Babcock & Brown, the Department for Transport, and the MoD.

Within Water, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP recently advised Saltaire Water consortium on its £3bn recommended cash offer for Kelda Group, the owner of Yorkshire Water. Energy and natural resources head Laurie McFadden leads a team noted for its ‘pragmatic approach to problem solving’.

Within Administrative and public law, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP is ‘well regarded’ and ‘extremely dedicated’. The practice, led by Paul Bowden, advised Northern Rock on government intervention issues, and the Department for Business, Enterprise and Regulatory Reform on the reorganisation of Royal Mail. Other clients include the Bank of England, the MoD and the All-Party Parliamentary Group on Renditions.

Within Civil liberties and human rights, tier 5

Freshfields Bruckhaus Deringer LLP has a different offering from other firms ranked here, focusing on the crossover between business and human rights. The ‘impressive’ team, led by Paul Lomas, advised the Barclay brothers on their injunction against the Guardian for attempting to publish leaked documents.

Within Overview,

This chapter encompasses all types of work which involves engaging with the public sector, from high-stakes judicial reviews to claims against local authorities, from representing regulators to acting for regulated industries, and from human rights violations abroad to securing the rights of vulnerable people in the UK. It is unsurprising, therefore, that this vast range of work attracts a variety of different approaches, from commercial City firms to specialist human rights outfits. Among the former, Herbert Smith LLP, Clifford Chance and Freshfields Bruckhaus Deringer LLP stand out, handling a mix of public law and pro bono human rights work.

Within Commercial property, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP has succeeded in picking up a number of the big property mandates that have arisen during the downturn, with clients declaring that they ‘trust the firm for mega-deals’. It advised Northern Rock on a review of its real estate assets and liabilities, and acted for Nomura on its premises requirements at Canary Wharf following the acquisition of certain Lehman Brothers businesses. Other highlights included instructions from Land Securities on a number of retail lettings at One New Change, and a major land acquisition and development in central London for another client. Alongside practice leader John Fordham, the team includes the impressive Chris Morris, Geoff Le Pard and Mark Wheelhouse.

Within Construction, Freshfields Bruckhaus Deringer LLP is a third tier firm,

‘In a league of their own’, the lawyers at Freshfields Bruckhaus Deringer LLP receive praise for ‘profound industry knowledge and technical expertise’, with Jane Jenkins being particularly ‘precise in her analysis while confident and calm in negotiation’. Disputes expert Sally Roe is representing Brookfield Construction in its £250m dispute relating to Wembley Stadium. The team has been appointed to the ODA’s construction disputes panel.

Within Environment, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP’s contentious environmental practice ‘stands out head and shoulders above the other major City firms’. Renowned litigator Jonathan Isted heads the group, and demonstrates ‘sound understanding of tactical processes and a strong management style in leading the team’. The group recently advised BP in UK High Court litigation brought by South American landowners alleging environmental damage to properties. The practice’s regulatory strength yields instructions from utilities companies regarding upcoming nuclear developments. Product litigation lawyer Paul Bowden is a useful asset.

Within Overview,

More positively, firms with international networks - such as Freshfields Bruckhaus Deringer LLP, Clifford Chance, Linklaters LLP, Ashurst LLP and SJ Berwin LLP - will potentially weather the storm more easily as work comes in from a variety of sources. Property litigators are benefiting from an increasingly contentious market as the level of disputes continues to increase. Firms such as Berwin Leighton Paisner LLP, Nabarro LLP, DLA Piper UK LLP, Linklaters LLP and Barlow Lyde & Gilbert LLP are advising on some of the most visible property disputes.

Within Planning, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer LLP’s practice is part of the environmental, planning and regulatory group headed by the ‘excellent’ Jonathan Isted, and it centres its efforts on major infrastructure development. Official legal service provider to the London Organising Committee of the Olympic and Paralympic Games (LOCOG), the team delivers advice to the body on planning compliance. A solid reputation in nuclear and power sectors has yielded key instructions from an international energy client on proposals to build new nuclear plants, demanding diverse advice on legislative reform, site nomination, and compulsory purchase.

Within Property finance, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP has the advantage of great client relationships with leading names such as Land Securities, Telereal and HypoVereinsbank. Highlights included advising Capmark on the restructuring of multiple layers of £1.2bn senior debt secured against a portfolio of care homes. The group’s long and much-admired track record in restructuring is bringing a lot of work through the door in the current climate. Simon Johnson and Jeffrey Rubinoff are highly rated practitioners.

Within Intellectual property, tier 5

Freshfields Bruckhaus Deringer LLP’s Justin Watts is ‘superb’, ‘an excellent litigator who is hugely experienced and has an exceptional technical ability’. He has been advising Johnson & Johnson on patent litigation brought by Novartis. The firm has also been increasing the amount of brand protection work it handles, and the team ‘actually provide answers and give real guidance’.

Within IT and telecoms, Freshfields Bruckhaus Deringer LLP is a third tier firm,

2008 saw Freshfields Bruckhaus Deringer LLP acting on several high-value emerging market telecoms deals, as well as advising on IT system separation issues and renegotiations for financial services clients. ‘The only team to trust with the most difficult transactions’, Ben Spiers and Richard Lister are both highly recommended for their international work.

Within Media and entertainment, tier 4

In 2008, Freshfields Bruckhaus Deringer LLP handled 16 media deals with a total value of £2.2bn. Ben Spiers and his ‘top-quality’ team advised Guardian Media Group on its £2.3bn takeover of the business-to-business arm of Emap and Sony Pictures Entertainment on the £168m acquisition of 2waytraffic. Simon Marchant is ‘professional and authoritative’, and David Aitman is also recommended. Computer games specialist Justin Watts advises Sony Computer Entertainment.

Within Pharmaceuticals and biotechnology, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer LLP ‘is absolutely first class and provides a Rolls-Royce service’. Corporate partner Julian Long advised Wyeth Pharmaceuticals on its acquisition of a privately held UK-based biotech company. The competition practice - where Simon Priddis is a key player - has been advising on the EU pharmaceutical sector enquiry.

Within Sport

Within Aviation, tier 4

Freshfields Bruckhaus Deringer LLP has the resources to offer ‘strong bench strength in dealing with complex regulatory issues’, and this - coupled with the firm’s global and corporate profile - has ensured the practice captures a number of large-scale clients and projects. It is advising BAA on the sale of Gatwick, and has been representing the administrators on the dissolution of the XL Group. Alan Ryan, who heads the practice, is particularly recommended for his competition expertise, and continues to advise a major airline in the EC’s air cargo cartel investigation. Clients are also quick to praise Martin Nelson Jones’ ‘excellent analytical skills and deal management’.

Within Rail, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer LLP has a significant profile in the rolling stock procurement sector, acting for government bodies and leasing companies on some of the year’s largest mandates. Led by department head and ‘key figure for rolling stock financing’ Richard Phillips, the team advised a consortium of investors on its acquisition of Angel Trains, one of the leading UK-based leasing companies (ROSCOs).