The Legal 500

Within Commercial contracts, Latham & Watkins LLP is a third tier firm,

Latham & Watkins LLP’s global technology transactions practice combines ‘strong market knowledge with high standards of legal advice’, and ‘sets the benchmark for client care and general attentiveness at partner level’. Its strong financial services capability makes it a prominent fixture on major outsourcing matters, as illustrated by its advice in 2010 to Lloyds Banking Group on its first major strategic integration of the banking platforms of the former Lloyds TSB and HBOS banking groups. Andrew Moyle heads up the outsourcing practice, and is ably supported by Martin Cotterill, Gail Crawford and Luke Grubb.

Within Corporate tax, tier 4

Latham & Watkins LLP has an enviable international profile and expertise in global and structured finance matters. It acts for many blue-chip clients including JP Morgan, SAB Miller, and Barclays, and advised Qatar Holding (a wholly owned subsidiary of Qatar Investment Authority) on its acquisition of the Harrods Group. Sean Finn and Daniel Friel are recommended.

Within Equity capital markets: UK capability, tier 6

Lene Malthasen is the key contact at Latham & Watkins LLP and has experience acting for issuers and underwriters in listings across Europe. Malthasen is also a member of the firm’s Scandinavian practice, and is very active is the region.

Within Equity capital markets: US capability, Latham & Watkins LLP is a third tier firm,

Latham & Watkins LLP is active in the European capital markets arena, and has an outstanding reputation. A leading figure for Nordic matters, Olof Clausson represents clients in the technology and financial services sectors, and recently advised Swiss software company Esmertec in its IPO and listing on the Swiss Stock Exchange. He also represented the underwriters, led by Merrill Lynch and Credit Suisse, in Swedbank’s €1.5bn rights offering. Ian Clark is noted for his experience in regions including Turkey, Russia, Ukraine and India.

Within EU and competition , tier 4

Latham & Watkins LLP is representing clients in many of the major pending cartel matters. Recent work includes acting for ArcelorMittal in the Commission’s Prestressing Steel cartel investigation, where the fine was reduced from €276m to €45.7m, prompting new policy announcements in relation to the calculation and level of fines. Another highlight was representing the RTL Group and others in the landmark CISAC case regarding anti-competitive practices by music collecting societies. John Colahan ‘gives very good strategic advice’; and Omar Shah is ‘extremely competent and commercial’.

Within M&A: upper mid-market and premium deals, 250m+, tier 4

Latham & Watkins LLP claims it had its most successful year in the UK M&A market in 2010 since it launched 20 years ago, and the numbers certainly show a marked improvement. The team, headed by Graeme Sloan and praised as ‘clear sighted’ and ‘pragmatic’, advised on 37 deals with a total value of £23.8bn. Continuing to play to its private equity strengths, the team has done well acting for a number of sovereign wealth funds in recent years, including the Qatar Investment Authority on the acquisition of Harrods. It advised Vedanta on the market-leading $8.46bn acquisition of Cairn Energy. Rory Negus attracts high praise, as does Nigel Campion-Smith. The team was boosted by the arrival of Glen Ireland from White & Case LLP.

Within M&A: US law capability, Latham & Watkins LLP is a second tier firm,

The ‘pragmatic’ team at Latham & Watkins LLP is praised for its in-depth industry knowledge. Areas of particular experience include deals into Scandinavia. Olof Clausson and Antti Ihamuotila are both recommended.

Within Overview,

On the private equity side, the market had its busiest year since 2007 globally, totalling $235.5bn worth of deals, up 92.5% compared to 2009 ($122.3bn), representing 11.1% of global M&A compared to 7.2% in 2009. Activity has been driven as much by houses regaining their appetite for significant investment as looking to exit via secondary buyouts. In the City, US firms are finally building credible alternatives to the UK firms. Although the likes of Clifford Chance remain at the top of the market, Weil, Gotshal & Manges, Latham & Watkins LLP and Kirkland & Ellis International LLP are hot on their heels. Notable developments on the private equity adviser landscape include the investment being made by Ropes & Gray LLP’s London office, hiring Kiran Sharma and Peter Baldwin from DLA Piper UK LLP and Jones Day respectively.

Within Private equity: transactions , tier 4

Though somewhat overshadowed by the firm’s finance capabilities, Latham & Watkins LLP’s private equity team is an increasingly pervasive presence on major domestic and cross-border deals. Recent highlights include advising the Carlyle Group on the secondary buyout of Britax Childcare Holdings, and Charterhouse Capital Partners on its multimillion-pound acquisition of Card Factory. The ‘very good’ Mike Bond is an integral member of the team, which also acts Apollo, Candover, Indigo Partners, and Genstar Capital.

Within Fraud: civil , tier 4

Latham & Watkins LLP is noted for its strength in co-ordinating matters on an international scale, with recent work including advising a large banking institution regarding claims arising from the Petters Ponzi fraud scheme. John Hull leads the team.

Within Banking litigation: investment and retail, tier 5

John Hull at Latham & Watkins LLP is ‘outstanding in every respect: as a lawyer, in client relations, first-class judgement, superb preparation, excellent support’. Recent work includes advising a Middle Eastern bank in arbitration proceedings with a Bahrain-based financial institution regarding the sale and purchase of certain investments.

Within Commercial litigation, tier 6

Latham & Watkins LLP’s London practice includes seven partners. The team represented a Kuwaiti provider of financial services in a series of disputes before the English courts. Philip Clifford is recommended.

Within International arbitration, tier 4

Latham & Watkins LLP’s Philip Clifford is best known for his work in the oil and gas, energy and construction industries, but also acts in the financial sector. The team represented a Cayman Fund in an LCIA arbitration regarding a major shareholder’s right to redeem its shares.

Within Public international law, Latham & Watkins LLP is a third tier firm,

Latham & Watkins LLP’s ‘knowledgeable and professional’ London team recently saw the departure of Robert Volterra and Stephen Fietta, but has been instructed in new investment treaty disputes and in various PIL matters related to recent events in the Middle East and North Africa. Highlights included acting for Macedonia in a major investment arbitration proceeding at ICSID, brought by an Austrian energy company under the Energy Charter Treaty and the Austria-Macedonia bilateral investment treaty. Philip Clifford is experienced in resolving a broad range of disputes for states and commercial entities, and Charles Claypoole has ‘deep knowledge’ of international boundary disputes and the Law of the Sea.

Within Acquisition finance, Latham & Watkins LLP is a second tier firm,

‘Absolutely superb on complex financings involving high yield and bank debt’, Latham & Watkins LLP continues to gain market share and has expertise at all levels of the capital structure. The team is also able to tap into the firm’s extensive international network, and is increasingly the first port of call for big-ticket mandates, such as advising Onex and the Canadian Pension Plan Investment Board on the $3.4bn acquisition financing of Tomkins plc. Other highlights included advising Barclays Capital on Phillips-Van Heusen’s $2.4bn acquisition financing of Tommy Hilfiger. Christopher Hall, Ross Pooley, Dominic Newcomb and James Chesterman are recommended.

Within Bank lending: investment grade debt and syndicated loans , tier 4

Although it is best known for its leveraged finance practice, where it has a ‘premier bank and bond capability’, Latham & Watkins LLP also handles syndicated financings for both corporates and banks. Christopher Kandel recently advised the lenders in a £1.98bn senior secured credit facility for Virgin Media.

Within Corporate restructuring and insolvency, Latham & Watkins LLP is a second tier firm,

Latham & Watkins LLP’s 13-partner restructuring team continues to act for the government of Dubai in relation to Dubai World. The firm was also instructed by Renova Industries as a majority shareholder in connection with the CHF1bn capital increase and the restructuring of CHF2.5bn senior facilities for Oerlikan; and advised Preem AB and Corral Petroleum Holdings on a $2.8bn debt restructuring and exchange offer. Key figures in the practice include group head John Houghton and Ross Pooley.

Within Debt capital markets, tier 5

Latham & Watkins LLP recently handled the first direct-issuance dollar-denominated debt offering in the US by an Italian issuer, and African Bank’s inaugural MTN programme, and is ‘unassailable in the Middle East’. Lene Malthasen, Jeff Lawlis and Michael Immordino are recommended.

Within Derivatives and structured products, tier 5

Latham & Watkins LLP’s Vladimir Maly handles cross-border derivatives for major financial institutions. He is ‘flexible, quick, calm under pressure, and sensitive to clients ’ needs’. Strategic equity deals featured prominently.

Within Emerging markets, Latham & Watkins LLP is a second tier firm,

Latham & Watkins LLP’s hire of Graeme Ward from Ashurst LLP at the start of 2010 paid dividends when the firm took a top role advising Vedanta Resources on its $10bn acquisition of Cairn India. The firm established a formal African practice in 2010, and represented JP Morgan and National Bank of Egypt as lead arrangers of a $2bn pre-export finance credit facility, led by Ross Pooley. The firm provides ‘efficient advice and excellent value for money’. Lene Malthasen, Simon Dickens and Ian Clark are also recommended.

Within High yield, Latham & Watkins LLP is a first tier firm,

Latham & Watkins LLP continues to reign supreme in the London market, with a four-partner team ‘head and shoulders above the rest’. It acted for CVC Capital Partners on the offering of senior secured notes and senior notes to help fund the company’s CHF3.3bn acquisition of Sunrise Communications; and also advised a consortium of banks on the €1.2bn senior subordinated notes offered by Netherlands cable operator Ziggo. Acting for both the underwriter and issuer, the group counts Morgan Stanley, Deutsche Bank, MTS and ConvaTec among its clients. Richard Trobman – the ‘godfather of European high yield’ – remains a leading player in the market, and Brett Cassidy and Tracy Edmonson are ‘exceptionally bright and hardworking’. Scott Colwell was recently promoted to partner.

Within Investment funds Investment funds

Within Islamic finance, Latham & Watkins LLP is a third tier firm,

Latham & Watkins LLP’s Craig Nethercott and Brian Conway joined from White & Case LLP in 2010. They advised lenders on a $2.5bn murabaha for Zain in Saudi Arabia. Anthony Pallett is set to join the firm in the UAE from Norton Rose (Middle East) LLP.

Within Overview,

While liquidity was relatively constricted, new-money financings were far more prevalent in 2010 than in previous years, fuelled to a large extent by a relatively buoyant high yield market. In the leveraged finance market, law firms combining a credible bank and bond side offering have generally fared best, particularly on deals at the upper end of the market. Latham & Watkins LLP has the most comprehensive bank and bondside practice, and is highly rated for acquisition finance, as well having a top-tier ranking for high yield. Of the Magic Circle firms, Linklaters LLP in particular has beefed up its high yield capability with some notable hires, and along with Allen & Overy LLP and Clifford Chance has the most complete finance offering across the board; the trio are able to leverage off deeply entrenched banking ties, and can draw on pervasive international networks to handle major cross-border mandates.

Within Employment, tier 7

Latham & Watkins LLP assists leading corporate clients such as Yahoo! and Diageo on global HR integration and organisational issues.

Within Pensions, tier 6

At Latham & Watkins LLP, Stephen Brown is the contact for pensions advice. He leads the firm’s employment and benefits practice in London.

Within Insurance and reinsurance litigation, tier 6

Latham & Watkins LLP’s insurance group has experience litigating and negotiating with Lloyd’s, the London market and other international insurers. The team represented a large US-based reinsurer in two arbitrations against London companies and Lloyd’s syndicates regarding recovery of reinsurance proceeds. John Hull, global co-chair of the litigation department, and of counsel Jumana Rahman are recommended.

Within Professional negligence Professional negligence

Within Mining and minerals, Latham & Watkins LLP is a second tier firm,

Latham & Watkins LLP’s team is going from strength to strength under the leadership of Glen Ireland. Among the firm’s recent transactions, it advised Norsk Hydro on its $5.27bn acquisition of the majority of Vale SA’s aluminium business located in Brazil.

Within Oil and gas, tier 4

Latham & Watkins LLP promoted Matthew Brown to partner in 2011, bringing the number of partners in the London team to six. Project finance remains the main strength of the practice, with recent work including advising the lead arrangers on the $1.8bn financing of four ultra deep-water drill ships.

Within Power (including electricity, nuclear and renewables) , tier 4

Latham & Watkins LLP’s team continues to go ‘from strength to strength’, with Dennis Nordstrom and Simon Dickens considered ‘leaders in the field’. The firm advised Clean Energy Solutions on the construction of a wind farm in Ukraine.

Within Intellectual property, tier 5

At Latham & Watkins LLP, ‘strong, decisive, and highly intelligent’ group head Laurence Cohen impresses with his ability to ‘develop critical strategy’. He is part of an international team advising the Abu Dhabi Technology Development Committee. Gail Crawford undertakes non-contentious IP work.

Within IT and telecoms, Latham & Watkins LLP is a second tier firm,

At Latham & Watkins LLP, the ‘fantastic’ Luke Grubb advised BSkyB on various technology procurement transactions, including data centre outsourcing. The ‘professional, knowledgeable’ team, led by London practice head Andrew Moyle, is also advising Lloyds Banking Group. Gail Crawford advised ABN AMRO on IT separation issues. Other clients include international corporates Guthy-Renker, MTS Telecommunications and Symantec. Martin Cotterill is also recommended. Alex Hamilton joined Radiant Law.

Within Media and entertainment, tier 5

Latham & Watkins LLP works on big-ticket music, film and broadcasting matters, including advising on content protection and licensing arrangements. Recent highlights include the ‘excellent’ Luke Grubb and associate Justin Cornish advising BSkyB on technology procurement, and Gail Crawford advising Trion Worlds Inc. The team also recently acted for Live Nation and Sony Pictures Entertainment.

Within Overview,

In IT and telecoms, Field Fisher Waterhouse LLP and Powell Gilbert LLP were strengthened by high-profile lateral hires. Clients’ focus on the cost of legal advice has brought work to specialist boutiques, notably Technology Law Alliance, Preiskel & Co LLP, Waterfront Solicitors and Radiant Law, recently established by partners from Latham & Watkins LLP and Barlow Lyde & Gilbert LLP.

Within Pharmaceuticals and biotechnology, tier 4

Latham & Watkins LLP combines a strong corporate practice with industry and scientific expertise. ‘Strong, decisive, and highly intelligent’ patent litigator Laurence Cohen is representing ConvaTec against Smith & Nephew and Speciality Fibres. The firm’s global presence enables the London team, which includes well-respected IP partner Gail Crawford, to handle multibillion-dollar mandates for Guthy-Renker, Norgine and Orchid Europe.