The Legal 500

Within Banking and finance, Linklaters LLP is a first tier firm,

Headed by Patrick Geortay, Linklaters LLP’s 16-strong team ‘efficiently uses its international network’ to provide a ‘superb service’ to clients, particularly on cross-border financings. The team has been busy in the debt capital markets, where it benefits from the talents of Nicki Kayser, described by one client as ‘one of the best capital markets experts in Luxembourg’. Kayser recently advised Hannover Finance on the issuance of a €500m hybrid bond, and acted for the Carmeuse Group on its $450m high-yield bond issuance. Janine Biver is also recommended.

Within Corporate and M&A, Linklaters LLP is a first tier firm,

Headed by Jean-Paul Spang, Linklaters LLP’s four-partner team provides ‘a very robust service’ to clients engaged in local and cross-border M&A, joint venture and group reorganisation mandates. Involved in an increasing number of M&A transactions in the financial sector, Spang represented BNPP Cardif on the merger of its Luxembourg life insurance business Cardif Lux International with Fortis Luxembourg Vie. The ‘excellent’ Tom Loesch has been involved in a significant amount of this work. Laurent Schummer is recommended for private equity work advising, among others, Apollo, Apax Partners and CVC.

Within Dispute resolution, Linklaters LLP is a first tier firm,

Headed by the ‘excellent’ Guy Loesch, Linklaters LLP continues to handle some high-profile disputes across a range of issues from shareholding and insolvency disputes to private international law cases. Loesch is representing PwC on the Luxembourg issues associated with its role as the administrator in the global Lehman Brothers insolvency. Other clients include RTL and the Russian Federation.

Within Employment, Linklaters LLP is a first tier firm,

Linklaters LLP predominantly handles advisory employment work for financial institutions and asset managers. The team works very closely with the corporate team to provide employment advice associated with M&A transactions and restructurings. René Diederich is particularly recommended for restructuring and transfer of undertakings.

Within IP and IT, Linklaters LLP is a second tier firm,

Frequently working with other offices in the firm’s vast network, Linklaters LLP’s Luxembourg team specialises in handling complex and multi-jurisdictional IP/TMT-related projects. It is particularly strong at handling the IT and IP issues associated with major transactions, and advised Ypso France on the relevant telecoms regulatory issues associated with the €360m sale of its shares in Numericable Belgium and Numericable Luxembourg. Managing associate Olivier Reisch has a good reputation for handling data protection matters.

Within Insurance, Linklaters LLP is a first tier firm,

Sitting within the wider corporate group, Linklaters LLP’s insurance practice is focused on transactional work within the sector, often containing a multi-jurisdictional component. Marc Loesch was part of a team that represented BNP Paribas Cardif (parent company of Cardif Lux International) on its merger with Fortis Luxembourg Vie.

Within Investment funds, Linklaters LLP is a first tier firm,

Headed by Hermann Beythan, Linklaters LLP’s three-partner team provides ‘a very professional and client-oriented service’ to many of the world’s leading promoters and fund managers. Recent highlights include advising KfW on the structuring and establishment of the Regional MSME Investment Fund for Sub-Saharan Africa, an innovative microfinance fund. Freddy Brausch, Hermann Beythan, Silke Bernard and Christian Hertz are ‘all very professional, have in-depth knowledge and very good “soft” skills’.

Within Legal market overview,

The status quo remains largely unchanged for the leading firms in the market. Traditional independent Luxembourg firms Arendt & Medernach and Elvinger, Hoss & Prussen excel in most areas of law, while UK ‘Magic Circle’ firms Allen & Overy Luxembourg, Linklaters LLP and Kremer Associés & Clifford Chance are a natural choice on many of the more sophisticated mandates in the market, particularly those requiring a significant cross-border element. Although there has been limited disruption in the market, Bonn Schmitt Steichen split up, and two new firms were created, namely Bonn & Schmitt and Bonn Steichen & Partners.

Within Real estate, Linklaters LLP is a first tier firm,

Linklaters LLP’s multidisciplinary real estate team provides expertise across the spectrum of mandates, although it is particularly accomplished in financing aspects, as well as funds work – where the firm can count more than 30 international property funds on its roster including Aberdeen Indirect Property Partners, BlackRock Real Estate Fund of Funds and Morley Asia Property Fund. Patrick Geortay, René Diederich, Tom Loesch and Emmanuel-Frédéric Henrion are recommended.

Within Tax, Linklaters LLP is a second tier firm,

Linklaters LLP’s small tax team is regularly called upon to advise on private equity and corporate transactions, as well as tax-based structured finance projects. Corporate partner Laurent Schummer is heading the group on an interim basis, following the recent departure of Paul Tulcinsky to Stibbe.