The Legal 500

Within Corporate tax, tier 4

The ‘excellent’ team at Latham & Watkins provides ‘prompt and practical advice’ with particular expertise in international transactional matters. Clients include the Qatar Investment Authority, Quilvest, Goldman Sachs, Wachovia Bank and SABMiller. Clients praise Daniel Friel and Sean Finn for their ‘commercial approach’.

Within Equity capital markets -UK capability, tier 6

Latham & Watkins’ practice spans Spain, India, Russia, Ukraine and Sweden, with recent work including advising JPMorgan on Swedbank’s €1.2bn rights offering. Lene Malthasen is recommended.

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

Latham & Watkins is best known for its market-leading prowess in the Nordic region, but Olof Clausson and Ian Clark’s team is also active in Italy and Spain. Recent highlights include advice to Swedbank on its €1.2bn rights offering, and Citi as underwriter on a €450m rights offering by Sappi.

Within EU and competition , tier 5

‘First rate’ on both sides of the Atlantic, Latham & Watkins (‘our go-to firm on high-end work’) has committed significant resources to its UK practice. John Colahan represented Aviva in relation to the Payment Protection Insurance (PPI) inquiry, and the firm is also advising parties in the BAA Airports and grocery sector inquiries. It regularly advises in relation to global cartel investigations, Marc Hansen especially, while the arrival of Laurence Cohen has led to a greater flow of IP/antitrust cases. The ‘extremely knowledgeable’ Omar Shah and cerebral John Kallaugher have led the charge on competition litigation.

Within M&A - upper mid-market and premium deals, £250m+, tier 6

Though part of a leading global firm, Latham & Watkins’ nine-partner M&A team in London essentially operates as a leading English upper-market practice. It completed over 30 UK deals in 2008 at an average of almost £230m. Private equity and financial institutions have traditionally been a source of work, with clients including Deutsche Bank, Carlyle and QIA. Graeme Sloan heads the practice, supported by Mike Bond and Nigel Campion-Smith among others.

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

With an ‘intelligent, business-focused service’, Latham & Watkins is notable for strategic M&A in the tech sector and its private equity prowess. The team advised Symantec on its US$695m acquisition of MessageLabs. Nick Cline is ‘adept at dealing with US company issues in a European context’.

Within Outsourcing and procurement, Latham & Watkins LLP is a second tier firm,

Outsourcing is a significant part of the Latham & Watkins’ London offering. Gail Crawford was recently made up, adding a fifth partner to a practice that has ‘proficiency on every piece of the deal process’. It advises large financial institutions, such as Deutsche Bank, HBOS and Lloyds TSB, as well as providing an ‘excellent service’ to UK blue-chip corporates, including Diageo, BskyB and Alliance Boots. Andrew Moyle heads the practice.

Within Private equity , tier 4

Clients of Latham & Watkins traditionally include the likes of Carlyle and One Equity Partners, but 2008 saw it distinguish itself by enhancing its Middle East presence and developing relationships with sovereign funds, notably advising Qatar Investment Authority on its purchase of a 6.5% stake in Barclays. The nine-partner team includes the recommended Mike Bond, Charles Fuller and Graeme Sloan.

Within Banking litigation, tier 5

Major roles in relation to Madoff and Lehman indicate Latham & Watkins’s global reputation and the calibre of London partner John Hull in particular. The promotion of Jumana Rahman to counsel is a boost to the practice, which regularly represents investment funds and private equity funds.

Within Commercial litigation, tier 6

Philip Clifford heads a strong team at Latham & Watkins which includes John Hull, who has a good track record in major financial services disputes. The firm is particularly active in international disputes, and has been advising a global financial institution on issues arising from the Madoff fraud. Larry Cohen is recommended for major IP cases.

Within International arbitration, Latham & Watkins LLP is a third tier firm,

Philip Clifford heads the highly rated team at Latham & Watkins, which has been kept busy with a range of energy, technology and Russia-related disputes. In Robert Volterra the firm boasts one of the market’s best-known experts in public international law, and Stephen Fietta has been promoted to partner.

Within Overview,

Arbitration is an area where smaller US offices can prosper in London. Its international nature lends itself to smaller, more mobile teams of specialised arbitration lawyers, enabling US teams in London to compete with their UK rivals. Among them, Wilmer Cutler Pickering Hale and Dorr LLP, Skadden, Arps, Slate, Meagher & Flom (UK) LLP, Debevoise & Plimpton LLP and Latham & Watkins are the pick of the bunch. Firms with strong expertise in energy, infrastructure, insurance, commodities and shipping also feature prominently in the arbitration rankings, as these are the sectors that most commonly use this form of dispute resolution.

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

Latham & Watkins has a dedicated public international law practice and regularly acts on bilateral investment treaty and inter-state disputes. The year’s workload included 15 ongoing arbitrations, including acting for St. Kitts and Nevis in relation to various maritime boundary negotiations. On the non-contentious side the firm regularly advises on matters such as treaty interpretation. A growth area has been acting for sovereign funds on international investment matters, notably advising Qatar Investment Authority on the protection of its investment portfolio against political risk. Robert Volterra, Stephen Fiettam and Michelle Bradfield are ‘very professional, with excellent knowledge’ of this area of the law.

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

The seven-partner group at Latham & Watkins, including the recommended James Chesterman, Dan Maze and Christopher Hall, remains popular with both borrowers and lenders, particularly for financings involving significant international elements. Recent highlights include advising Goldman Sachs, RBS and Lloyds TSB on the US$600m mezzanine financing of First Reserve’s acquisition of Abbot Group.

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

Latham & Watkins has an increasingly varied practice, providing ‘high-quality’ advice to senior creditors, mezzanine lenders and clients acquiring distressed assets, as well as being ‘one of the go-to-bondholder firms’. Able to tap into a significant sponsor client base, it is representing the Carlyle Group and its portfolio company Bluebrook on the restructuring of the IMO car wash group. Also involved in formal insolvencies, it is advising Grant Thornton as administrators of the Bell Leisure Investment companies, and also MatlinPatterson as a creditor on the Spanish insolvency of Martinsa-Fadesa. John Houghton heads a core five-partner group that was recently bolstered by the arrival of Jackson Taylor and Holly Neavill from Cadwalader, Wickersham & Taft LLP and Bingham McCutchen (London) LLP respectively.

Within Debt capital markets, tier 5

The highly rated Tracy Edmonson’s move to the London office of Latham & Watkins boosts Lene Malthasen’s team, which acts for corporates, banks, sovereign issuers, underwriters and trustees. Michael Immordino’s Italian and Spanish practice also stands out.

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

Corporate partners Lene Malthasen, Ian Clark and Christopher McFadzean have helped Latham & Watkins retain its high profile in Russia and the CIS, notably representing VTB on its US$2bn notes issuance. Clients say the group is ‘first choice to handle the most challenging instructions’.

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

Following Bryant Edwards’ relocation to Dubai in 2008, Latham & Watkins has been looking to up-and-coming corporate finance partners, such as the ‘intelligent and alert’ Brett Cassidy, to continue to take up the mantle alongside ‘true high yield expert’ Richard Trobman. Corporate partner Tracy Edmonson’s arrival from the San Francisco office is regarded as a strong move for a practice that benefits from relationships with a mix of large issuers and underwriters, such as JPMorgan and Morgan Stanley.

Within Investment funds, tier 6

Also recommended are: Baker & McKenzie LLP; Bingham McCutchen (London) LLP; Burges Salmon LLP Bristol; CMS Cameron McKenna LLP; DLA Piper UK LLP; Denton Wilde Sapte LLP; Dundas & Wilson LLP; Katten Muchin Rosenman Cornish LLP; Latham & Watkins; Maclay Murray & Spens LLP; Mishcon de Reya; O’Melveny & Myers LLP; Olswang; Osborne Clarke; Paul, Hastings, Janofsky & Walker (Europe) LLP; Reed Smith; Speechly Bircham LLP; Taylor Wessing LLP; Weil, Gotshal & Manges and Withers LLP.

Within Overview,

US firms continue to feature prominently, in the corporate restructuring, acquisition finance and high yield sections in particular. White & Case LLP undoubtedly has the widest-ranging finance practice, while other firms appearing in a number of rankings include Latham & Watkins, Kirkland & Ellis International LLP, Shearman & Sterling LLP and Skadden, Arps, Slate, Meagher & Flom (UK) LLP. For corporate restructuring, Bingham McCutchen (London) LLP has a firm grasp of the bondholder market, particularly since Cadwalader, Wickersham & Taft LLP’s almost complete disappearance from the London market. A major force in the US leveraged finance market, Simpson Thacher & Bartlett LLP has built up a significant practice in London, handling regular mandates from leading private equity sponsors KKR and Silver Lake.

Within Securitisation, tier 5

Latham & Watkins can draw on the experience of Mark Nicolaides in structuring and documenting investment vehicles and asset-backed securities on assets including IP royalty streams, insurance and trade receivables, and is branching out into emerging areas such as longevity securitisation.

Within Employment, tier 8

Latham & Watkins, notably Stephen Brown, is recommended for complex international work.

Within Pensions (incl pensions dispute resolution), tier 6

Catherine Patterson at Latham & Watkins is recommended for all types of pensions work, with wide experience of corporate-related matters.

Within Insurance and reinsurance litigation, tier 6

A particular forte of Latham & Watkins is the environmental coverage arena, and it also has considerable experience in D&O insurance coverage issues. Key clients include Fluor Corporation. John Hull and David Mulliken are the main contacts.

Within Professional negligence

Within Oil and gas, tier 4

From London, Latham & Watkins continues to reap some of the highest-profile instructions in the Middle East, including advising Qatar Gas Transport Company and its wholly owned subsidiary on a US$6.8bn debt programme to pay for the construction and acquisition of a fleet of LNG vessels, the largest ship financing ever done. Dennis Nordstrom and Simon Dickens are recommended.

Within Overview,

Magic Circle firms Allen & Overy LLP, Clifford Chance and Linklaters LLP continue to rank prominently throughout this chapter, with excellent links with both banks and sponsors. However a selection of US-based projects powerhouses have given the London-based firms a real jolt in recent years; White & Case LLP, Latham & Watkins and Milbank, Tweed, Hadley & McCloy LLP most notably have gained real pedigree in the market.

Within Intellectual property, tier 6

Latham & Watkins’ joint head of global IP Larry Cohen has been advising Alba plc (now Harvard International plc) in a complex 16-patent infringement action brought by eight major electronics manufacturers. Cohen ‘instantly grasps where we are coming from and we have never had to steer him back on target. Pragmatic but suitably ruthless’. Gail Crawford is a newly made up transactional IP partner.

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

Large technology transactions and ITOs are the forte of the technology team at Latham & Watkins. Recognised as having a ‘skillset to meet every need’, the group advises several financial institutions, such as ABN AMRO, Deutsche Bank and HBOS, as well as a range of UK blue-chip corporates. London managing partner and practice head Andrew Moyle leads much of the work in the financial services sector. Alex Hamilton and Martin Cotterill are both recognised as ‘first-choice lawyers’, while Luke Grubb also comes highly recommended.

Within Media and entertainment, tier 5

Latham & Watkins’ London managing partner Andrew Moyle, who has ‘good industry knowledge’ and ‘communicates very effectively’, advises EMI Music. Luke Grubb represented BSkyB and Diageo, while Gail Crawford advised New Regency on its joint venture with Shine. The service is ‘detailed and exact, while retaining the necessary pragmatism and flexibility’.

Within Overview,

Many of the US firms have also been growing their IT and telecoms practices. These include Latham & Watkins - also building its media and entertainment team; Morrison & Foerster (UK) LLP - also a leader for life sciences corporate work; and Mayer Brown International LLP - which has lost music industry veteran Robert Allan to niche media firm Michael Simkins LLP. Milbank, Tweed, Hadley & McCloy LLP remains very strong at providing IT and telecoms outsourcing advice; and Weil, Gotshal & Manges and Covington & Burling LLP - which is extremely strong in life sciences - have been building their media and entertainment practices.

Within Pharmaceuticals and biotechnology, tier 4

Latham & Watkins has a corporate practice in the sector, and Larry Cohen is well regarded for patent litigation. Cohen also advised Guthy-Renker LLC on the regulatory aspects of its launch of pharmaceutical products into the UK market.