The Legal 500

Within Banking and finance, Ashurst LLP is a second tier firm,

Gonzalo Jiménez-Blanco leads the practice at Ashurst LLP, which has banking, securities and financial regulatory expertise. It advised UBS as lender on acquisition financing, and advised Cerberus Capital Management on the financing aspects of the acquisition of 97 branches from Caja Madrid. On the regulatory side, clients include Capital Strategies Partners and JPMorgan. It advised Goldman Sachs on restructuring its position as convertible bondholder of Inmobiliaria Colonial.

Within Capital markets, tier 4

Ashurst LLP’s ‘office is small but, given the nature and strength of work, the size of the team is not an issue’; ‘all the lawyers are generally strong’. In particular, Juan Hormaechea has ‘very high level skills and gives prompt responses’. The team is advising Goldman Sachs on various securities regulatory matters; and recently advised Deutsche Bank on the administrative procedure by Spanish markets authority Comisión Nacional del Mercado de Valores (CNMV) to investigate certain stock exchange market maker agreements.

Within Corporate and M&A, Ashurst LLP is a second tier firm,

At Ashurst LLP, ‘responses are prompt’ and ‘advice is well thought out, clearly delivered and commercially minded’. The team advised Charterhouse on the sale of footwear retailer Vivarte, and First Solar on the purchase of two photovoltaic power plants. Practice head Jesús Almoguera is ‘an outstanding professional’, María José Menéndez is ‘a clever and clear-minded lawyer whose advice is easily understood’, and insolvency expert Jorge Vázquez is also recommended.

Within Dispute resolution , tier 5

Daniel Jiménez heads Ashurst LLP’s practice, which also includes Gonzalo Jiménez-Blanco, who has ‘outstanding judgement and regulatory expertise’, and Juan Hormaechea, who is recommended for his knowledge of OTC derivatives. The group recently represented Hines in a claim against Habitat.

Within EU and competition, tier 4

Ashurst LLP has a strong Spanish client base, and is acting for ONO in its opposition to the mergers between Telecinco and Cuatro; and that between Prisa, Telefónica, Telecinco and Digital+. It also acts for ONCE, Devir, and several top-flight Spanish football clubs. Rafael Baena heads the team.

Within Employment Other recommended firms

Within Insurance, Ashurst LLP is a third tier firm,

Ashurst LLP’s insurance team is advising ADMS, Aegon’s direct marketing services division, on a collaboration agreement with a major distributor. Maria José Menéndez heads the group, which also includes Eduardo Gracia.

Within Intellectual property Other recommended firms

Within Projects and energy, Ashurst LLP is a third tier firm,

At Ashurst LLP, ‘the service is of a high standard’ and clients report ‘a very proactive attitude and quick answers to incoming questions’. Across the team, there is ‘a high level of professionalism’. Key clients include First Solar, which the firm advised on the acquisition, development and debt financing of photovoltaic power plants in Badajoz and Zamora. Gonzalo Jiménez-Blanco leads the practice.

Within Real estate, Ashurst LLP is a third tier firm,

Ashurst LLP’s Cristina Calvo Ortega has an excellent reputation in the real estate market. The firm recently advised HBOS and Lloyds Banking Group on restructuring two loan agreements granted to Metrovacesa, and gave planning advice to GE Real Estate.

Within Restructuring and insolvency, Ashurst LLP is a second tier firm,

Ashurst LLP is advising Accor Hoteles España on the Viajes Marsans insolvency, and recently advised Barclays Bank on the Reyal Urbis debt restructuring. This ‘very responsive group of lawyers is always available, friendly and willing to help’, and provides ‘superior English-language advice’. Jose Christian Bertram is ‘commercially minded with great industry knowledge’. Jesús Almoguera heads the corporate and restructuring and insolvency groups, and is also recommended.

Within TMT Other recommended firms

Within Tax, Ashurst LLP is a third tier firm,

Ashurst LLP’s strengths include ‘risk assesment’ and a good ‘external network’. It recently assisted Deutsche Bank in designing a structure to invest in non-performing loan (NPL) and real estate property portfolios. Other clients include Caja Madrid, Cerberus and Thompson Reuters. Practice head Eduardo Gracia has ‘good technical knowledge.’