The Legal 500

Ashurst LLP

What we say about the firm's legal practice in United States

Finance

Within Capital markets: global offerings, Ashurst LLP is a third tier firm,

Ashurst LLP’s securities expertise extends to several key jurisdictions, and the group is notably active in the European debt market. Highlights of 2010 included advising on the $500m covered bond issuance by the Korean government owned and controlled corporation Korea Housing Finance, which was the first statutory covered bond in Asia. The team also assisted NRW Bank in its €50bn debt issuance program; L-Bank in its €30bn debt issuance program; and Daimler in its €35bn EMTN program. Clients praise the team’s ‘first-rate industry knowledge’ and ‘great attention to detail’, and ability to provide ‘immediate responses’. New York-based William Gray is the key contact.

Within Structured finance , tier 4

Ashurst LLP’s ‘advice is generally more understandable and commercial than that received from other law firms’. William Gray heads the New York structured finance and derivatives group, which provides full coverage of the structured finance and derivatives area and tends to esoteric and complex matters. In recent instructions, the team advised a major financial institution in connection with a note synthetically linked to a loan portfolio through a credit derivative, and assisted several gas suppliers in complex novations of commodity swaps. Recommended lawyers in a ‘highly professional group which delegates and supervises well’ are ‘proactive and supportive’ Alice Yurke, and ‘knowledgeable and service-minded’ Patrick Quill. Also in New York, David Nirenberg is an ‘industry leader in the taxation of derivatives’. Washington DC-based Joyce Gorman has ‘a unique blend of legal as well as business and market knowledge and expertise in complex structures involving the securitization of tax exempt bonds’. Margaret Sheehan joined the Washington DC office from Alston & Bird LLP in early 2010 to build the firm’s regulatory practice. Clients of the group include Royal Bank of Scotland, Royal Bank of Canada, Deutsche Bank, JPMorgan, Merrill Lynch, Goldman Sachs and Morgan Stanley.


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