The Legal 500

Within Asset finance and leasing, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton’s asset finance and leasing group predominantly represents airlines and its clients include Aeroflot, Air France-KLM, American Airlines and Delta Air Lines. The group’s experience encompasses a diverse array of financing and leasing arrangements including operating, leveraged, synthetic and cross-border leases, airline securities offerings and fleet restructurings and refinancings. The team has a long history of developing innovative financing techniques for the airline industry such as pass-through certificate structures and cross-border tax leasing. John Curry in New York chairs the aviation practice group and is regarded as ‘extremely bright, experienced, responsive, thoughtful and cooperative’. His personal practice concentrates mainly on complex domestic and international financings for aircraft, including capital markets offerings of leveraged lease debt and EETCs secured by aircraft, engines or components. Curry’s recent work includes advising American Airlines and Delta Air Lines on numerous offerings of EETC pass-through certificates, raising over $7.4bn in aggregate proceeds to finance more than 200 aircraft. Darius Tencza in New York, who specializes in project and equipment financing, is advising JFK International Air Terminal on its initial development and financing of Terminal 4 at JFK Airport. The firm also has an extremely strong presence in this practice area across the EU and the CIS; it has been involved in many significant recent Russian aircraft financing transactions.

Within Bank lending (including other sources of financing), Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton maintains an ‘exceptional’ high-end practice that acts in all areas but has notable expertise in syndicated loans, refinancings and leveraged acquisitions, across diverse industries. Clients include several longstanding and significant private equity houses. In a major recent transaction, involving complex multi-jurisdictional aspects, the firm represented Reynolds Group Holdings in financing arrangements totalling $5bn for its acquisition of Pactiv, the food and beverage packaging firm; these included the borrowing of incremental loans in excess of $2bn. It also assisted Hertz Global Holdings as sponsor in the financing aspects of its proposed $1.56bn acquisition of Dollar Thrifty Automotive Group; and, in a $4.2bn transaction, acted for Clayton, Dubilier & Rice in the financing of its acquisition of a 42.5% stake in Univar, the commodity and specialty chemicals distributor, via a sponsored recapitalization deal. William Beekman acted for Oaktree Capital Management on its PPIP Fund, involving a $2bn financing with the US treasury to help rectify the market in mortgage-backed securities. The ‘extremely knowledgeable’ David Brittenham heads the team, and other recommended individuals include Paul Brusiloff and Pierre Magüé. Jeffrey Ross was made a partner in 2010.

Within Capital markets: debt offerings, Debevoise & Plimpton is a third tier firm,

A ‘first-rate law firm’, Debevoise & Plimpton has a strong debt practice, with notable expertise advising on the issuer side, particularly in high-yield transactions. Co-chairs of the securities group Alan Paley and Peter Loughran are ‘excellent’, and the team has broad experience in advising clients from different sectors. The firm has an outstanding reputation for private equity work, and the team is adept at handling related securities deals. Recent highlights for the group include advising Westpac Banking Corporation in a $1bn notes offering and a $2bn notes offering, and assisting Manulife Financial Corporation in a $600m and a $500m senior notes offering, with both transactions handled by Paley. Loughran, together with the ‘very responsive’ Paul Rodel, advised Itaú Unibanco Holding in a $1bn 5.75% subordinated notes offering and in a further $1bn 6.20% subordinated notes offering. The same team also represented Globo Comunicação e Participações in the $325m offering of senior secured exchangeable notes of Pontis. Providing underwriter advice, Matthew Kaplan represented Banc of America Securities, Deutsche Bank Securities and UBS Securities as joint bookrunning managers in the $300m senior notes offering by CIGNA Corporation. Loughran also advised the bookrunning managers Bank of America Merrill Lynch, Credit Suisse, HSBC, Deutsche Bank Securities, Wells Fargo Securities and UBS in MetLife’s senior notes and floating rate senior notes offering totalling $3bn. Steven Slutzky is also recommended, and clients praise the team’s ‘high-quality service’.

Within Capital markets: equity offerings, Debevoise & Plimpton is a second tier firm,

Debevoise & Plimpton has a ‘wonderful name’ for equity capital markets work, and is well known for the strength of its issuer practice. With an excellent track record in IPOs and other equity offerings, the ‘top-notch’ team has a depth of experience advising clients in particular sectors, with recent areas of focus including aviation and insurance. Co-chair of the group Peter Loughran advised American Airlines in a $430m offering of common stock, and also advised Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities, UBS and HSBC as bookrunning managers in connection with MetLife’s $3.6bn offering of common stock. Loughran also provided advice to Goldman Sachs and Credit Suisse as lead bookrunning managers regarding the $332m IPO of KAR Auction Services, and assisted Deutsche Bank Securities in CVR Energy’s $68.6m secondary offering of common stock. The firm’s expertise extends to high-profile global offerings, including advising on AIA’s $20.5bn IPO listed on the Hong Kong Stock Exchange, and Manulife Financial Corporation’s C$2.5bn offering of common shares. Matthew Kaplan is recommended for his ‘intellect and work quality’, and also singled out are co-chair Alan Paley, Steven Slutzky and the ‘knowledgeable’ Paul Rodel, who made partner in 2010.

Within Capital markets: global offerings, tier 4

The ‘excellent’ Debevoise & Plimpton had a very active 2010 in global offerings work, representing issuer clients in debt and equity deals. In a high-profile transaction, practice co-chair Peter Loughran and Thomas Britt, together with assistance from the firm’s Paris and Hong Kong offices, advised American International Group (AIG) and AIA Group regarding AIA’s $20.5bn IPO and listing on the Hong Kong Stock Exchange: the third-largest IPO ever in Hong Kong. Co-chair Alan Paley advised Manulife Financial Corporation on a C$2.5bn offering of common shares, and also assisted the client in senior notes debt offerings totalling $1.1bn. Other highlights included advising International Finance Coporation, JAFCO Asia Technology Fund II and the Greater China Trust as the selling shareholders in HiSoft Technology International’s $74m IPO of US depositary shares. On the debt side, the firm counts Itaú Unibanco Holding and Westpac Banking Corporation as clients. Steven Slutzky and Paul Rodel are recommended.

Within Capital markets: high-yield debt offerings, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton’s high-yield capabilities lie principally in advising issuer clients and the team has a widespread reputation for its ‘outstanding quality’, calling on the combined strength of both the securities and leveraged finance groups. Recent issuer highlights include Steven Slutzky and Pierre Maugüé advising Reynolds Group Holdings in a $1bn offering of 8.5% senior notes, and again in a further $1.5bn offering of 7.125% senior secured notes, in May and October 2010 respectively. Paul Brusiloff, William Beekman and securities group co-chair Peter Loughran also advised Kelso & Company as sponsor of the $355m 10.75% senior secured notes offering of Logan Roadhouse. Slutzky, Beekman and David Brittenham assisted The Hertz Corporation in a $400m offering of 7.50% senior notes, and another $300m offering of 7.50% senior notes. Matthew Kaplan is praised for his ‘professionalism and response times’, and Paul Rodel ‘actually listens to clients’.

Within Corporate restructuring, tier 4

The ‘outstanding’ Debevoise & Plimpton provides a ‘wonderful level of service’ to a broad range of clients including debtors, creditors, investors and shareholders. ‘Highly detail-orientated, efficient and responsive’, the seven-partner New York-based team is ‘particularly strong in document analysis’. While it lacks the critical mass to handle a huge volume of debtor-side Chapter 11 mandates, it regularly handles out-of-court restructurings, as well as picking up specialist work, including its relatively recent role as special counsel for Delta Air Lines on its restructuring. Clients do, however, benefit from the attention of a ‘cadre of highly experienced senior attorneys who make themselves accessible to clients instead of solely delegating work to junior attorneys’. Co-head Steven Gross is a ‘wonderful counsellor who can always put a situation in perspective’ and recently advised Eutelsat in contract matters relating to Sea Launch Company’s Chapter 11. The ‘excellent’ George Maguire is particularly accomplished at distressed M&A matters and is recommended, as are My Chi To and co-head Richard Hahn.

Within Financial services: regulatory, Debevoise & Plimpton is a second tier firm,

Driven out of its New York and Washington DC offices and aided by a significant presence in Europe and Asia, Debevoise & Plimpton’s financial institutions group includes some ‘very talented lawyers’ who are active across the spectrum of regulatory issues facing the insurance, banking and private equity industries. Able to leverage off the firm’s ‘pre-eminent insurance M&A department’, the firm has handled some of the market’s most complex and cutting-edge mandates, many featuring myriad regulatory concerns. Most significantly, the firm has represented beleaguered insurance giant AIG on its post-credit crunch international disposition program. Following on from its ultimately failed attempt to sell American International Assurance (AIA) to Prudential, John Vasily represented AIG on AIA’s spin-off and $20.5bn IPO and listing in Hong Kong. The largest IPO in Hong Kong’s history and the world’s largest IPO in the insurance market, the mandate highlighted the firm’s ability to handle a major cross-border mandate that required transactional and regulatory expertise. While the practice remains best-known for its insurance expertise, the recruitment in July 2009 of Gregory Lyons and Satish Kini from Goodwin Procter LLP underscores the firm’s commitment to building up its banking practice. Their arrival has already started to pay dividends and as well as advising a swathe of banks (including Fifth Third Bank) and trade associations on Dodd-Frank compliance issues, the team has handled a number of significant M&A mandates. The group has been particularly active for private equity entities acquiring distressed lenders and, led by Lyons, it advised Federal One on its acquisition of a thrift in New England and a subsequent, separate acquisition of bank branches from Millenium Bank. Nicholas Potter co-heads the overall financial institutions group and is recommended for his expertise at handling transactional work, while Paul Lee co-heads the banking practice. The firm is also active on the enforcement side, where it is able to draw upon the strength of its ‘market leading white-collar team’.

Within Project finance, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton is noted for its ‘keen business understanding, complementing its exceptional legal expertise’. It has a good blend of both sponsor and lender clients, and a notable niche in PPP infrastructure transactions, with power and fuel developments also important. The firm has been at the forefront of the American PPP sector since its dawn, and also has expertise in project finance restructurings and the disposition of project assets, in distressed situations and otherwise. It has been appointed to the DoE’s panel on the Advanced Technology Vehicles Manufacturing (ATVM) program. Key mandates include the Solana solar power project; a complex deal involving challenges at many levels, it has seen Robert Gibbons and Ivan Mattei leading for the DoE on the $1.45bn guaranteed project finance loan for the financing of a $1.9bn, 280MW parabolic trough concentrating solar project and related 22-mile transmission line, the largest such facility planned in the US. The group also acted as lender’s counsel on the $1.6bn Mojave Concentrating Solar Power Plant project, a facility that will use proprietary solar power technology; the senior secured creditors in a $500m deal for a reverse osmosis desalination plant at Carlsbad, Southern California, to produce 100 million gallons of potable water per day for consumption in Southern California; and JFK International Air Terminal, in the development and financing of a $1bn expansion of the existing $1.5bn primary international terminal 4 at the airport, and the negotiation of a related anchor agreement with Delta Air Lines. Mattei and Gibbons are co-chairs of the project finance group, which, although small, punches high above its weight in terms of the scope and profile of its work. Clients appreciate the deep bench at the firm; other key partners are Craig Bowman and Darius Tencza, although all lawyers at the firm are of the ‘highest rank’.

Within Structured finance , tier 4

Debevoise & Plimpton’s Byungkwon Lim leads the derivatives and structured finance group, to which four other corporate and tax partners and some 15 counsel and associates contribute. Members of the group ‘work in a thoughtful manner within the client’s deadlines and keep track of all of the moving pieces to make sure the deal closes on time’. Most of the firm’s work in structured finance is high value and complex. Clients include sponsors, investment banks, investment advisers and investors in a variety of securitizations of debt portfolios. The group has a particular niche in aircraft securitization, and is also very strong in the insurance sector, where advice includes a variety of innovative approaches to risk securitizations and catastrophe bond offerings. The ‘extraordinarily knowledgeable’ Pierre Maugüé has wide experience of complex, cross-border finance; he recently advised an energy trading company in the negotiation of a credit sleeve facility to enable the company to post collateral in connection with its purchase of electricity under various ISDA agreements. William Beekman, ‘a pleasure to work with, responsive and able to deal with multiple problems with ease’, advised Fisher Scientific through its credit facility and customer accounts receivable securitization. All partners named are based in the New York office. Active clients of the practice group include Commerzbank, Credit Suisse, Goldman Sachs, JPMorgan Chase and Swiss Re.

Within Insurance: non-contentious, Debevoise & Plimpton is a first tier firm,

With its ‘unique combination of legal expertise and business acumen’, Debevoise & Plimpton’s insurance industry group has gained an impressive reputation as ‘the cream of the crop’ and the ‘go-to’ firm. In addition to advising clients on insurance-associated regulatory and competition law issues, the group has ample capacity to handle sophisticated matters ranging from capital market transactions, cross-border M&A and demutualizations to catastrophe (CAT) bonds, and closed-block and embedded-value securitizations. The firm continues to strengthen its international reach throughout Europe and Asia, a critical aspect of its work due to the proliferation in cross-border transactions in the market. Clients such as AIG, AXA, MBIA, MetLife, Hannover Re and Swiss Re also benefit from the firm’s increased investment and resources in financial services throughout the firm, bolstering its already strong insurance expertise. John Vasily led the insurance group in its recent representation of AIG and its spin-off AIA, in its $20.5bn IPO and listing on the Hong Kong Stock Exchange, the world’s third largest on record; the proceeds will form part of the repayment owed by the insurance giant to the Federal Reserve Bank of New York, following its well-publicized government bailout in 2008. Thomas Kelly, chair of the firm’s insurance industry group, led the advice to Pacific Life in its $1bn offering of surplus notes. In addition, the firm is currently acting for longstanding client Protective Life in its $316m acquisition of United Investors Life from Liberty National Life. Co-chair of the financial institutions group Nicholas Potter is highly regarded for his ‘solid business acumen’ and ‘pragmatic’ approach, and Wolcott Dunham is recognized by peers and clients as the ‘dean’ of the industry, ‘combining impressive insurance knowledge with corporate expertise’.

Within Copyright, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton has strong litigation expertise as well as licensing and counseling capabilities within its IP and media group. its copyright client base includes both traditional media and entertainment interests as well as online companies. It represented leading publishers and the Association of American Publishers as plaintiffs in settling a copyright infringement case against Google, which involved the defendant’s digitized book search database; Bruce Keller, Jeffrey Cunard and Jeremy Feigelson were among the team members involved. David Bernstein is another notable attorney.

Within Trademarks: litigation, Debevoise & Plimpton is a first tier firm,

Debevoise & Plimpton’s trademark and advertising group includes litigators David Bernstein and Bruce Keller, who are highly regarded for handling complex trademarks litigation. An ‘IP powerhouse’, the team is particularly noted for its expertise in cases related to the technology sector and cyber law, advising household names such as The Gap Inc and the NFL on complex, often multi-jurisdictional, cases. Pernod Ricard is a major client for the practice; the firm represented it on several high-stakes disputes, including an appeal to the Third Circuit regarding a long-running dispute against Bacardi over the Havana Club trademark. Illustrative of the unusual, high-stakes litigation handled by the practice, it also advised the client on an infringement case to protect the color white as the trade dress of its Malibu rum product, obtaining a broad injunction against any use of a white bottle in the future for any spirit. Keller represented the NFL in an infringement case brought against Titlecraft’s fantasy football league trophies, recently winning partial summary judgment in the ongoing litigation. The team also prepared amicus briefs on behalf of The International Trade Association for some important internet-related trademark cases, including Tiffany v eBay and Rosetta Stone v Google.

Within Alternative/hedge funds, tier 4

Debevoise & Plimpton’s investment management practice ‘may be better known for its private equity capability, but the hedge fund team is also quite good’. Lawyers in London and Frankfurt lend the two-partner US team an international footprint. Utilizing the firm’s regulatory, tax structuring and structured products expertise, the practice has the capability to advise on transactions or the formation of complex fund and funds-of-fund structures for investment boutiques or major institutions such as AIG. Past experience has included advising on the acquisition and sponsorship of high-yield hedge funds and funds-of-hedge funds for Mackay Shields, Morgan Stanley and Credit Suisse First Boston, as well as advising Tudor Investments and individual asset managers on a joint venture primarily focusing on arbitrage. New York-based Byungkwon Lim leads the team, with Kenneth Berman in Washington DC providing regulatory compliance advice.

Within Private equity funds, Debevoise & Plimpton is a first tier firm,

Debevoise & Plimpton is widely regarded as ‘one of, if not the, most experienced law firms in fund formation’, and it enjoys a reputation for ‘world-class responses with in-depth knowledge of the trends governing the private equity industry’. 50 US-based attorneys devote their efforts to private equity fund formation, and the practice can draw on 200 lawyers globally. The group has a 30-year track record advising on fund formation on the GP and LP side, and is ‘highly integral to private equity firms’ LP relations efforts’, exhibiting capability that extends beyond standard fund management to encompass M&A, tax and ERISA. During 2010, it advised Prudential Capital Group on raising $965m for mezzanine investments and closed several significant buyout funds for longstanding clients Clayton, Dubilier & Rice and Morgan Stanley Capital. For the former, it formed a $5bn buyout fund, which was the largest private equity fund closed in the fourth quarter of 2009. Distressed debt fundraising remained a key theme, with the team representing Oaktree Capital Management on closing a $4.5bn global distressed debt fund, which was the largest such fund closed as of October 2010. This ‘extremely responsive team is always willing to go the extra mile’, according to clients who ‘can’t speak more highly’ of practice co-chair Michael Harrell and corporate partner Jordan Murray, who is ‘extremely capable, detail-oriented and a great negotiator’. Praise for ‘star’ partner Erica Berthou is equally vociferous: ‘she is extremely responsive, very practical when it comes to application/interpretation of legal matters, and a very strong negotiator of our terms with prospective investors’. Sherri Caplan is ‘also a strong performer who knows the market very well and is effective working with new funds’.

Within International arbitration, Debevoise & Plimpton is a first tier firm,

An acknowledged leader in the field of international arbitration, Debevoise & Plimpton fields a ‘highly professional team’, admired for its ‘sumptuous yet succinct submissions’. The firm advises on the most complex disputes and counts multinationals, sovereign states, international organizations, and non-governmental bodies among its enviable client list. It is one of the few practices which combines investment treaty arbitration, general commercial dispute resolution and strong public international law experience with a global footprint. The international dispute resolution team’s experience includes acting on long-term energy concessions; bilateral investment treaties (BITs); joint venture and distribution agreements; shareholder disputes; power and energy disputes; construction and engineering projects; insurance and reinsurance matters; political risk disputes; sovereign debt; intellectual property; international manufacturing and supply disputes; and public international law. Lawyers from the team have significant experience appearing before a wide range of tribunals including the International Court of Arbitration of the International Chamber of Commerce (ICC), International Center for the Settlement of Investment Disputes (ICSID), the Inter-American Commercial Arbitration Commission (IACAC) and the London Court of International Arbitration (LCIA). Clients are impressed with its ‘instinct for knowing what the tribunal wants and then working hard to help get the answers we are looking for’. The practice was recently successful in a $3.5bn Russian shareholder dispute on behalf of Norilsk Nickel. Donald Donovan is ‘one of the world’s leading practitioners in both investment treaty and commercial arbitration’, while David Rivkin is ‘a brilliant lawyer and tactician’. Mark Friedman and Catherine Amirfar are highly regarded by clients and peers alike.

Within Product liability and mass tort defense: aerospace/aviation, Debevoise & Plimpton is a third tier firm,

The outstanding Roger Podesta heads the team at Debevoise & Plimpton, which has earned a solid reputation predominantly on the basis of its extensive and ongoing representation of American Airlines in the multibillion-dollar World Trade Center litigation, in which the firm is co-counsel alongside Condon & Forsyth LLP. While the firm does not maintain an everyday aviation litigation practice like the top-tier firms, its inclusion here is recognition that it can handle, and will be sought for, top matters for the largest aviation industry clients.

Within Securities: shareholder litigation, Debevoise & Plimpton is a third tier firm,

‘The overall quality of service is exceptional’ at Debevoise & Plimpton, whose lawyers ‘demonstrate true professionalism in all areas’. Overall ‘the partners work to achieve the highest level of client satisfaction while at the same time maintaining objectivity and independence in their actions and legal advice’. The firm is particularly well known for its white-collar crime and regulatory investigations practices, and its partners have a versatile and broad-base of expertise that they bring to major securities-related actions, both from the SEC investigatory side and in securities fraud and derivative actions. Among them, Washington DC-based litigator Colby Smith is noted for his ‘integrity, objectivity, passion for client service, and stature and reputation with the US regulatory agencies’. The ‘outstanding’ Bruce Yannet is also commended for his ‘overview, strategy, and ability to avoid conflicts in an area of conflicting jurisdictions’. New York-based partners Jeffrey Jacobson, Gary Kubek and Edwin Schallert are also highly recommended. Major work highlights included representing MetLife in an $8bn shareholder challenge to the company’s demutualisation, which was settled after the jury selection in a trial was expected to last at least two months. The firm also defended Hewitt Associates in a shareholder litigation related to its $4.9bn merger with a subsidiary of Aon Corporation. Hertz Corporation also retained the firm in a shareholder litigation relating to its $1.2bn acquisition of Dollar Thrifty Automotive Group.

Within White-collar criminal defense , Debevoise & Plimpton is a first tier firm,

Spearheaded by the ‘amazingly good’ Mary Jo White and the ‘excellent’ Bruce Yannett, Debevoise & Plimpton’s white-collar team provides ‘expertise and judgment’ to clients involved in criminal and SEC investigations and litigation, as well as in parallel civil and administrative proceedings which frequently also arise. Active across the full suite of white-collar matters, including financial fraud, FCPA abuses and matters involving the pharmaceutical industry, the team is frequently the ‘first-name on our list if we have a major corporate crisis on our hands’, says one client. Based out of New York but with a significant presence in Washington DC, the practice has excellent credibility before the regulators by dint of a ‘superbly talented’ cadre of lawyers that includes no fewer than ten former assistant US attorneys, including Neil Eggleston who also served in the White House as associate counsel to the President. Regularly involved in some high-profile matters for corporates and individuals, as well as his involvement for a student loan industry leader in the States Attorneys’ General investigations into loan practices, Eggleston also recently represented a senior pharmaceutical executive in an “off-label” criminal investigation. The financial services industry has also proved a fertile source of instructions for the team in recent years, and as well as advising a major global financial institution in connection with federal and state regulatory investigations relating to auction-rate securities, it is also representing Kenneth Lewis, former CEO of Bank of America, in regulatory matters relating to the Merrill Lynch acquisition. Sean Hecker, Andrew Ceresney and Washington DC-based Paul Berger are also recommended members of a team that maintains a ‘disciplined, respectful and ethical culture, in which intellectual excellence is a goal’. Clients include American Express, Bank of New York Mellon, HCA, JPMorgan, Siemens and UBS. The firm is also unique in having the former attorney generals of both the US, Michael Mukasey and the UK, Lord Goldsmith, making the firm well positioned to capitalize on the current surge in international white-collar crime.

Within Technology: data protection and privacy, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton’s cross-border, interdisciplinary team offers regulatory counseling in the United States and Europe, defends clients in government enforcement actions, litigates data security and privacy-related matters and supports financial services transactions. Data sharing, data breaches, regulatory investigations and internal data policies are key focus areas. The group has particular strength in publishing, with Bruce Keller leading a team representing members of the Association of American Publishers in connection with the Google Library Project. Clients include John Wiley & Sons, The McGraw-Hill Companies, Pearson Education, Penguin Group (USA), Simon & Schuster and Siemens. Jeffrey Jacobson is representing media conglomerates in a consumer fraud and electronic privacy putative class action relating to the use of zombie cookies. Andrew Ceresney is assisting a US bank with an internal investigation relating to the loss of back-up tapes containing confidential customer information. In Washington DC, Jeffrey Cunard is advising a major sports league on privacy issues relating to the collection, transfer and use of personal data, and websites marketed to children. Satish Kini and Colby Smith are recommended.

Within Telecoms and broadcast: transactional, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton’s 35-strong media group has over 25 years’ experience, focusing on M&A and capital markets work for longstanding clients in the media, broadcasting and telecoms sector. The telecoms group is integrated into the firm’s corporate practice, and its cross-disciplinary strength and market reputation in corporate and private equity matters help it win prestigious, big-ticket mandates. The firm’s international reach, enables it to handle deals in Latin America, India and the Far East. According to clients, ‘the overall level of service is outstanding’. Transactions in 2010 were dominated by consolidation and divestitures, with partners recognized as ‘excellent leaders in their practice areas’. Kevin Schmidt and his team represented General Electric in its $5.8bn repurchase of Vivendi’s stock in NBC and advised it on its joint venture with Comcast that contemplates General Electric’s ultimate exit from NBC Universal. Schmidt also advised longstanding client Verizon Communications on a series of divestitures, notably its $8.6bn landline spin-off to Frontier. Michael Gillespie, who also advised NBC Universal, represents Globo Organization, the largest media company in Latin America. Richard Bohm represented longstanding clients, the Dolan family, in the tax-free spin-off of Madison Square Garden and related businesses from Cablevision. A litigation team led by Jeffrey Cunard represented major book publishers and the Association of American Publishers in negotiating a settlement of the landmark copyright litigation over Google’s plan to scan full-text books. Other clients include Discovery Communications, Eutelsat, Granahan McCourt, Hasbro, Providence Equity Partners and Sony.

Within Antitrust, tier 6

Staffed principally by litigators, Debevoise & Plimpton’s US antitrust team resides within the litigation department and operates predominantly from New York, working in collaboration with European colleagues in London, Paris and Frankfurt. The group provides a well-rounded service to plaintiffs and defendants, and has experience across a wide range of industries, managing a workload that is split fairly evenly between mergers, investigations and litigation, with an increase in merger mandates recently. The ‘extraordinarily knowledgeable’ Gary Kubek – who has ‘a cost-effective approach’, ‘responds rapidly’ and ‘makes himself very available’ – has been representing the Association of American Publishers regarding challenges, including a DOJ investigation, to its settlement with Google over its scanning of books for the Google Library Project. In merger clearance work, the team represented Reynolds Group on its $6bn acquisition of Pactiv Corporation, a NYSE-listed packaging and storage manufacturer, and advised Hertz Global Holdings on its proposed $1.56bn acquisition of Dollar Thrifty Automotive Group. Litigator Daniel Abuhoff is also recommended.

Within M&A: mega-deals ($5bn+), Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton’s ‘M&A team is outstanding. It identifies issues that need to be addressed and is sensitive to understanding the business considerations and personnel dynamics that may affect an M&A situation’. The practice has 32 partners who focus primarily on M&A work – 19 in the New York office alone – supported by approximately 100 counsel and associates. These lawyers also have outstanding support in core related areas such as finance, tax, antitrust, intellectual property, real estate, benefits, environmental law and litigation risk management. The team assisted Prudential Financial in its $4.8bn acquisition of Japan-based AIG Star Life Insurance and AIG Edison Life Insurance Company from AIG, acted for Hewitt Associates in its $4.9bn merger with Aon Corporation, and represented Clayton, Dubilier & Rice in its acquisition of a 42.5% stake in Univar, a global distributor of commodity and specialty chemicals, in a sponsored recapitalization transaction valuing Univar at $4.2bn. General Electric was advised in the repurchase of Vivendi’s stock of NBC Universal for approximately $5.8bn, and the firm acted for NBC Universal on certain corporate matters relating to the formation of the NBC Universal-Comcast joint venture, valued at $37.5bn. Clients find that ‘the value delivered by this group is considerable. It is always available and immediately responsive. I find that I have less to worry about when it is advising’. The private equity group is also found to be ‘incredibly strong’. New York-based co-M&A chairs Paul Bird and Jeffrey Rosen are key contacts.

Within Private equity buyouts, Debevoise & Plimpton is a first tier firm,

While many will point to Debevoise & Plimpton’s tight association with Clayton Dubilier & Rice as the key driver of the private equity group, its practice derives from a diverse array of clients, including The Carlyle Group, Providence Equity Partners, Kelso & Company, Stone Point Capital and Teachers’ Private Capital. The team is commended for its ‘high-quality work’, ‘very responsive’ lawyers, ‘strong technical skills’, ‘high level of market knowledge’ and ‘excellent legal and strategic advice’. The firm is also consistently praised for its peerless fund formation practice (see Private equity funds) and it is developing its finance capacity with five dedicated leveraged finance partners in New York. The firm also has a particularly strong record in the insurance and financial institutions space. The firm is further developing its international private equity standing, having hired David Innes from London’s Travers Smith LLP, and by relocating Drew Dutton to Hong Kong. Recent examples of its illustrious transactional record include representing Clayton Dubilier & Rice on its $1bn acquisition of a 51% stake in Tyco International’s Electrical and Metal Products business, and on the private equity house’s acquisition of a 42.5% stake in Univar. The firm also represented Stone Point Capital and Hellman & Friedman in their $1.1bn acquisition of Sedgwick Claims Management Services. Franci Blassberg, Peggy Andrews Davenport, Paul Bird, Kevin Rinker, who has ‘great technical’ and ‘very strong interpersonal skills’, and Kevin Schmidt are all highly recommended.

Within Real estate, Debevoise & Plimpton is a third tier firm,

At Debevoise & Plimpton, the ‘top-notch’ Steven Alden chairs the real estate group, which is regarded as a ‘go-to option for the toughest of transactions’. This three-partner team provides service which is ‘excellent in every way’ and handles complex dispositions and acquisitions, restructurings and workouts, fund formation and financing transactions for institutional and fund-based investors, lenders and borrowers. It represented Tishman Speyer on the $525m sale of the New York Times building, and TIAA on its $480m sale of two New York City trophy buildings. The group completed several transactions for Westfield America including advising on its joint venture with Prudential Assurance on the $520m refinancing of Westfield Garden State Plaza shopping mall. The team also closed multiple deals for Beacon Capital Partners including its acquisition and subsequent refinancing of the John Hancock Tower in Boston and its $990m joint venture acquisition of a portfolio of 12 properties in Virginia. The team also regularly represents UBS Wealth Management and JPMorgan Investment Management on acquisitions. Other clients include Bear Stearns, the Rockefeller Group, Deutsche Bank Real Estate and Broadway Partners. Nicole Mesard ‘provides great commercial advice’ and is ‘especially excellent on financing transactions’. Peter Irwin is ‘incredibly knowledgeable’ and ‘a skilled negotiator’; clients say ‘his judgment, attention to detail, and attentiveness are unparalleled’.

Within Domestic tax: East Coast, Debevoise & Plimpton is a first tier firm,

Debevoise & Plimpton’s New York tax department is ‘very responsive, extremely thorough, technically competent and offers extremely high levels of industry knowledge’. Department chair Burt Rosen has established a ten-partner group well supported by several senior former partners with of counsel ranking, and a ‘very solid bench of associates’. Tax experts work closely with colleagues in firm’s leading corporate and financial practices on complex transactions, restructurings and bankruptcies, serving major corporations, financial institutions, and private equity and investment fund managers. The group is particularly expert in industry sectors including insurance, banking, aviation, communications, media and real estate. In recent instructions, busy insurance sector expert Seth Rosen provided tax advice to American International Group in a series of divestitures, including the proposed $35.5bn sale of its Asian life insurance unit, and Peter Schuur assisted Hewitt Associates in its $4.9bn merger with Aon Corporation. Other recommended lawyers include Peter Furci, who is ‘quite simply the best tax lawyer I have ever worked with’; David Schnabel, ‘one of the real experts in partnership tax – who can integrate technical tax answers with actionable and commercial solutions’; Andrew Berg, who ‘comes up with creative solutions to the knottiest problems’, and ‘proactive, technically excellent and extremely thorough’; and Robert Staffaroni. The department’s clients include Clayton, Dubilier & Rice, General Electric, Hertz Global, Amazon.com and Protective Life.

Within Employee benefits and executive compensation, Debevoise & Plimpton is a third tier firm,

Debevoise & Plimpton’s executive compensation group’s ‘professionalism, response times, and work quality is top notch’. The three-partner New York practice group, though small, is widely experienced in corporate governance, ERISA and tax and securities laws. Lawrence Cagney, chair of the executive compensation and employee benefits group, is ‘very intelligent, efficient and has great knowledge in related areas such as tax and accounting’; Elizabeth Pagel Serebransky is ‘outstanding in responsiveness, business/industry knowledge, and understanding complex issues’; and Jonathan Lewis is ‘top in terms of relative performance’. In recent instructions, the group advised on compensation matters for Hewitt Associates in its $4.9bn merger with Aon Corporation, and counseled Verizon Communications in the spin-off and merger of its wireline businesses in 14 states to Frontier Communications. Practice clients include Discovery Communications, MetLife and Royal Dutch Shell.

Within International, Debevoise & Plimpton is a first tier firm,

Debevoise & Plimpton’s New York-based tax practice group is ‘very knowledgeable, cutting edge and commercial – terrific quality and responsiveness’. International instructions are handled in close co-operation with the London, Paris and Frankfurt and Asian offices. Practice clients range across industries from airlines to mineral extraction, from banking to insurance, with a strong following of global leaders, private equity managers and investment funds. Gary Friedman, who is ‘technically very strong and provides excellent global advice’, advised Clayton, Dubilier & Rice in its acquisition of a 42.5% stake in global commodity and specialty chemicals distributor Univar, in a sponsored recapitalization transaction valuing Univar at $4.2bn. In New York, Peter Schuur ‘is superb – highly knowledgeable, very creative, can translate tax law into English, and has a unique grasp of US/UK tax issues’. In early 2011, Adele Karig provided tax advice to close Baring Asia Private Equity Fund V, a private equity fund with $2.46bn in investor commitments, making it the largest private equity fund launched in Asia since the GFC. Vadim Mahmoudov, recommended for cross-border fund formation within his broader practice, is ‘extremely responsive and usually gives you solid advice immediately’. Clients recently represented in international transactions by the tax group include American International Group, Altegrity and Providence Equity Partners, General Electric and Reynolds Group.