The Legal 500

Within Banking and finance, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a second tier firm,

Following the arrival of Antònio Payan Martins and Francisco Xavier de Almeida in 2007, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL’s banking and finance practice has gone from strength to strength – and clients are taking note. One says, ‘we consider Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL among the best law firms operating in the Portuguese market. Clearly, the partners that have joined from Linklaters LLP have added international dimension’. The team, which also includes the very capable João Caldeira, has shifted its focus to high-value, complex transactions, and areas of specialism include syndicated lending, debt restructuring, leveraged portfolio acquisitions, and non-performing loan matters. The team acted for the Royal Bank of Scotland in a $350m credit facility arrangement with Brisa, in relation to the North West Parkway concession. Another important client is Credit Suisse International, for whom the team advises on a range of financial matters.

Within Capital markets, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a second tier firm,

Since the arrival of Francisco Xavier de Almeida and António Payan Martins from Linklaters LLP, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL’s capital markets practice has gone from strength to strength. With Almeida demonstrating ‘excellent technical skills, a top commercial approach and an easy personality’, clients are ‘particularly impressed’ by his knowledge of this area. The team advised the originator, Banif, on mortgage-backed floating rate notes due 2060 and issued by Gamma; this was the first RMBS transaction for Banif since 2002. The firm also advised Barclays Capital and CaixaBI as arrangers and dealers of a €5bn Euro Medium Term Note Programme for Redes Energéticas Nacionais. Clients appreciated the ‘availability and efficiency of the lawyers involved, their commercial judgement and practical approach to matters’.

Within Corporate and M&A, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a third tier firm,

Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL has further consolidated its corporate practice following last year’s arrival of capital markets guru Francisco Almeida and finance expert António Payan Martins. Headed by João Caldeira – ‘an excellent professional with good technical knowledge of the law’ – the department now comprises three partners and four additional fee-earners. Eurobis instructed the team to advise on its spin-off and incorporation of four holding companies and the transfer of a qualified stake in the SLN/BPN Group, valued at €64m. The team also acted for GE Commercial Finance in the €24m sale of a 49% stake in Heller Factoring Portuguesa. Clients comment, ‘besides being extremely focused and professional and having a lot of knowledge and experience in acquisitions, the team is extremely flexible and accessible and really works with the client and remaining advisors with team spirit’. One added, ‘They do not simply stay in their office and send you a general report – they provide you with full support for the transaction and bring relevant experience to the project’.

Within Dispute resolution, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a second tier firm,

Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL’s litigation practice goes from strength to strength. The team has focused its efforts primarily on insolvency, energy and IP disputes, while also handling a number of professional negligence claims, tracing of assets cases and various arbitration proceedings. TMN – Telecomunicações Móveis Nacionais instructed the firm to act before the US Maryland District Court in an alleged patent infringement case initiated by Technology Patents. Other clients include Compal, Erdevel Europa Sarl, Unibetão and Banco Espirito Santo. Founding partner, Nuno Pena, best known for his strength in tax litigation, and António Andrade de Matos, who specialises in civil and commercial litigation, international arbitration and insolvency matters, are both recommended.

Within Employment, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a third tier firm,

Respected for its ‘competence and notoriety’, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL has experienced a year of consolidation, wherein its employment and social security practice has markedly increased its client portfolio and market profile. Main industries of focus include health, pharmaceuticals and consumer retail. The team assisted Ferrero Ibérica with setting up a pension scheme for its Portuguese branch, and, following the acquisition of CRT, also conducted due diligence for Euro Medic with regards to all employment and service contracts, and employment and social-security related compliance documentation. While advising the consortium involved in a tender bid for full capital of Aquapor, the team also undertook due diligence of all labour and social security information, a matter which involved over 600 employees. Miguel Koch Rua leads a team chosen for its ‘deep experience, knowledge, and practical sense’.

Within Intellectual property, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a first tier firm,

‘Better, faster and cheaper’ than other firms, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL’s IP practice was boosted by three new arrivals, while José Luis Arnaut continues to lead the team in high-profile work. Arnaut is noted for the ways in which he ‘understands all situations quickly and runs the department from a client’s point of view. His aim is always to serve the client in the best technical and cheapest way’. Clients of the firm include Louis Vuitton Mallettier, Genéris Farmacêutica, L’Oreal Group and Farma APS. The practice is present in the highly competitive pharmaceuticals sector, while also drawing clients from the technology, telecommunications, energy, real estate and cosmetics industries.

Within Public law, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a first tier firm,

Practice head and founding partner Rui Pena of Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL has carved an upstanding public law reputation for the firm, which, since the arrival of Mónica Carneiro Pacheco has expanded to reflect growing presence within the energy sector. New client ANA instructed the team to provide legal support with its public tender procedures relating to the construction of new infrastructure Lisbon, Algave and Azores airports. Attracting plenty of media attention, the team is representing the Lisbon Municipality in an ongoing arbitration with the Tâmega-CME Consortium, regarding the construction of the Marquês de Pombal tunnel. Clients describe the team as ‘interested, available and quick to answer questions’.

Within Real estate, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a second tier firm,

Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL’ practice is focused primarily on licensing, planning and zoning matters, and team leader Luís Abreu Coutinho has extensive experience in real estate acquisitions. The team advised REN Gasodutas and Transgás on the coordination of a real estate registration project involving more than 16,000 properties subject to natural gas public easements. The team was recently strengthened by the arrival of José Matos Correia.

Within Tax, Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL is a third tier firm,

Rui Pena, Arnaut & Associados, Sociedade de Advogados, RL’s tax practice continues to flourish under the guidance of co-heads Nuno Pena and Patrick Dewerbe. Pena recently secured a newsworthy Supreme Court decision ruling that Portuguese tax payers should not be considered as tax criminals when failing to deliver to the Portuguese State VAT payments not received from their service providers. The team acted for GE Commercial Finance during a transaction involving the €24m sale of a 49% stake in Heller Factoring Portuguesa, a deal that raised significant tax structuring issues. The team is said to possess a ‘practical approach and good business sense’, a combination that ‘creates values to the client’.