The Legal 500

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

Clients value the ‘great knowledge, constant availability and their international network’ offered by Linklaters. The practice advised IXIS Corporate & Investment Bank acting as arranger, lead manager, custodian, servicer and investment contract provider on AXA’s pan-European insurance linked securitisation. The team acted for a leading international bank on the restructuring of a derivative transaction and security package with an estimated value of €660m. Advisory work continued for Fortis bank on the implementation of MiFIID across 17 European jurisdictions. Clients single out David Ballegeer for his ‘sharp legal mind which he combines with business sense’, stating ‘he is our “go to” lawyer in Belgium for LBO financings’. François De Bauw heads the team and is recommended.

Within Competition, Linklaters LLP is a second tier firm,

Clients praise Linklaters ability to deliver‘substantial added value on very short notice’. One client said ‘with Alec Burnside in the van, the firm understands highly complex technical and commercial questions and applies the law in a meaningful way’. Wolfgang Deselaers, Jonas Koponen, Paul McGeown, and Gerwin Van Gerven are singled out for praise. And many non-clients name Linklaters as their most popular alternative outside the top tier, with service that is ‘speedy without cutting corners on the detail’ from ‘people who are knowledgeable and versatile’. The practice’s work in advising Rio Tinto on the defence of BHP Billiton’s aborted bid is instructive, having previously led Aer Lingus’ successful and hard-fought 2007 defence against Ryanair. Belgian domestic competition work included advice to Electrabel on the acquisition of Walloon cable assets, resulting in litigation before Belgium’s higher courts- showing contentious and non-contentious experience.

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

The practice at Linklaters has been involved with numerous high profile public take-over bids. The team advised Fortis on its €71.1bn joint bid with RBS and Banco Santander for ANB AMRO and acted for Macintosh Retail Group its €160m takeover of Brantano. Private M&A transactional work included the €96bn merger of Suez and Gaz de France. Paul Van Hooghten leads the team and is recommended along with Jean-Pierre Blumberg. Clients value the firm’s international presence and the ability to ‘touch base with international offices’.

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

Linklaters’ ‘great experience in the litigation and IT markets’ is evident in noteworthy cases such as its instruction by Unisys, a global IT services provider, in a dispute with the Belgian Ministry of Justice. Banking litigation is an additional strength of the practice with clients such as CitiGroup, CBC Bank, and Ernst & Young instructing the team on disputes with values in excess of €50m. ‘Good litigators’ Joost Verlinden, Françoise Lefèvre and Johan Verbist are recommended for constant delivery of ‘solid quality’.

Within Environment, Linklaters LLP is a second tier firm,

The ‘excellent’ Lieve Swartenbroux heads the practice at Linklaters that is recommended for assisting clients before the civil, administrative and criminal courts on post-acquisition claims, appeals against permits and non compliance issues. Often working alongside the real estate and corporate teams, it advised Waterland Private Equity on the acquisition of retirement homes and clinical laboratories. Stand alone work for the ‘capable’ practice includes post-acquisition claims relating to soil contamination issues for a large pharmaceutical company.

Within Fraud and white-collar crime, Linklaters LLP is a first tier firm,

Clients describe a ‘long and positive experience’ with the team at Linklaters that is headed by Johan Verbist, who leads the firm’s world-wide white-collar crime team. Notably the firm has been instructed by financial institutions on regulatory investigations following alleged market manipulation.

Within Information technology, Linklaters LLP is a second tier firm,

Linklaters TMT team offers IT expertise and is ‘well regarded for information technology expertise in Belgium’. Tanguy Van Overstraeten heads the team and is praised by clients for ‘experience, knowledge and negotiating skills’. The practice advised a large financial institution on an approximate €800m outsourcing agreement. Additional instructions include advising Electrabel on data protection. Clients single out Bastiaan Bruyndonckx for an ‘overall excellent and top quality service’.

Within Intellectual property, Linklaters LLP is a third tier firm,

‘Top quality’ Bird & Bird LLP was instructed by Belgacom on a worldwide landmark case regarding internet service provider’s liabilities in peer to peer data exchange. Clients value Christophe Troussel, describing him as a ‘dedicated professional who gives excellent advice and support in litigation’, adding ‘through his change from Linklaters he maintains high standards of quality and surrounds himself with an excellent team’. Additional instructions for the practice include acting for Mastercard Europe on a patent infringement in connection with co-branded cards. ‘Quality’ practitioner Bruno Vandermeulen heads the team and remains active on patent litigation matters for which he is recommended. Cartier and Montblanc instruct the team on brand protection issues.

Within Intellectual property, Linklaters LLP is a third tier firm,

Pieter Van Den Broecke leads the Linklaters team that advised a conglomerate of energy exchanges and transmission system operators on a pan-European project. This was innovative as the team acted to ensure access to and control over specific IP rights held by the different players were properly observed. Additional instructions include acting for Johnson & Johnson on an international patent dispute. Clients state that the team ‘continues to do a good job’.

Within Labour and employment, Linklaters LLP is a second tier firm,

Developing ‘long and positive relationships’ and delivering ‘experience and quality’, Linklaters is recommended for its expertise on collective dismissals. It acted for Lanxess, a chemical manufacturer, on the reorganisation of its Belgian operation and a collective dismissal. Notably the team acted for Fortis following its acquisition of ABN AMRO, work included advice on multiple aspects of the merger, downsizing, transfer of employees and collective redundancies. Luc Vanaverbeke is recommended and was instructed by Ford on a discrimination litigation case involving forty employees.

Within Legal market,

Cleary Gottlieb Steen & Hamilton LLP acted for BNP Paribas on its €14.5bn acquisition of Fortis and also represented Dexia on its recapitalisation plan. Linklaters played a role advising Fortis on its €71.1bn joint bid for ABN AMRO with Allen & Overy LLP acting for ABN AMRO. CMS DeBacker acted for the largest syndicate of shareholders in Fortis Holding to advise on the transfer of Fortis’s business lines to BNP Paribas. However, the Brussels Court of Appeal froze the deal with BNP in December 2008, ordering that shareholders vote on the transaction, leading ultimately to the political turmoil described above.

Within Legal market,

The case also provided clarification on the standard of proof to be applied in merger decisions. Most firms involved with EU merger control reported that the final quarter of 2008 saw a considerable drop in both Phase I and II merger control notifications. Those firms with very strong merger control credentials, the likes of Freshfields Bruckhaus Deringer, Linklaters, Skadden, Arps, Slate, Meagher & Flom LLP, Arnold & Porter LLP, and Ashurst LLP (amongst others), may be affected in the short term. Longer term, however, deals will still be done, as market sectors consolidate. Such developments place a premium for all firms to be able to turn to areas where competition law is used not just to get the deal done, but to act offensively, as well as defensively.

Within Legal market,

The global nature of the competition law field means many firms in our rankings compete not just against their Brussels peers, but further afield. Freshfields Bruckhaus Deringer, at times, found itself in 2008 against London’s Akin Gump Strauss Hauer & Feld, Amsterdam’s Stibbe, Dublin’s A&L Goodbody, and Washington DC’s Shearman & Sterling LLP. Many firms also have close synergies between their head offices and Brussels such as Beachcroft LLP. The overall strength of a firm’s network can be a factor for clients: one said of Linklaters, that ‘their network in Europe has been very useful to us, having operations in multiple European jurisdictions’.

Within Legal market,

The steady development of Belgian competition law has continued following the arrival of Jacques Steenbergen as Director-General of the Belgian Competition Authority. As a result, Linklaters, Allen & Overy LLP and Stibbe remain busy alongside Eubelius, Van Bael & Bellis and Cleary Gottlieb Steen & Hamilton LLP. One firm that will wish to join them will be Olswang following the hire of Koen Platteau from Loyens & Loeff. The move was seen as boosting Olswang’s domestic competition law offering significantly.

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

Linklaters was involved in one of the largest retail transactions in 2008, advising ING Insurance on the €72m sale of its 100% interest in the shopping centre Ilôt Saint Michel in Liège. Client value the ‘professional integrity, expertise and knowledge’ demonstrated by Yves Moreau and his team. The team acted for Fattal Hotel Group on the establishment of its business in Belgium and the acquisition of a hotel portfolio. Additional international clients include GLL Real Estate Developers.

Within Tax, Linklaters LLP is a first tier firm,

Linklaters’s ‘integrated advice, incorporating corporate tax, VAT and legal aspects’wins plaudits with clients, also praising ‘good contacts with government officials.’ The team assisted InBev on tax aspects of its well-publicised $52bn acquisition of Anheuser-Busch. The team’s ‘technical expertise’ was called upon when advising various entities of the Fortis Group, both on the tax aspects of refinancing Fortis’ share of the joint bid for ABN AMRO, and subsequent strengthening of solvency capital. It advised Janssen Pharmaceutica, parent company of Johnson & Johnson, on new legislation, mostly exempting patent income, from income tax- thus boosting client technical innovation. Ivo Onkelinx is singled out for his ‘flexibility to respond to urgent matters’.