The Legal 500

Within Corporate tax Corporate tax

Within M&A: lower mid-market, £50m-£250m, tier 6

Led by Stuart Harray, Milbank, Tweed, Hadley & McCloy LLP’s English law practice dovetails well with the firm’s global US law capability, leading to a string of mandates for financial services clients and an increasing amount of work driven out of the emerging markets.

Within Private equity: transactions , tier 7

Stuart Harray is recommended at Milbank, Tweed, Hadley & McCloy LLP.

Within Commercial litigation Commercial litigation

Within International arbitration International arbitration

Within Overview,

US firms, which generally fare better in the international arbitration ranking than in the litigation tables, are intent upon growing their London dispute resolution practices. Akin Gump Strauss Hauer & Feld launched its London team in September 2009 when it recruited Linklaters LLP’s energy disputes head Justin Williams; and Quinn Emanuel Urquhart & Sullivan, LLP hired Olswang’s litigation head Martin Davies and Alex Gerbi, as well as Robert Hickmott from CMS Cameron McKenna LLP. Milbank, Tweed, Hadley & McCloy LLP recently took on DLA Piper UK LLP’s Julian Stait and Tom Canning.

Within Acquisition finance, tier 7

Milbank, Tweed, Hadley & McCloy LLP’s team head Suhrud Mehta is ‘very articulate and effective’.

Within Asset finance and leasing, tier 7

Although it handles work across all asset classes, DLA Piper UK LLP’s undoubted core strength lies in aviation finance. Able to draw on the expertise of the firm’s vast international network, the team regularly handles cross-border mandates for airlines, lessors and banks. Recent highlights include advising a syndicate of banks in the financing of up to 16 aircraft on lease to five different European carriers. Team head Graham Tyler is imbued with ‘up-to-date industry knowledge’ and has a ‘pragmatic and no-nonsense’ approach to his work in the aviation sector. The team suffered a blow with the recent departures of James Cameron and Stephen Marais, to Milbank, Tweed, Hadley & McCloy LLP and Ince & Co respectively.

Within Corporate restructuring and insolvency,

Also of note are: Nick Angel at Milbank, Tweed, Hadley & McCloy LLP; and Tony Horspool at Ropes & Gray LLP. Brown Rudnick LLP, Dewey & LeBoeuf LLP, Reed Smith and Shearman & Sterling LLP are among the firms continuing to make a concerted push into the area.

Within Debt capital markets, tier 5

The arrival of the ‘tenacious and intelligent’ Peter Schwartz at Milbank, Tweed, Hadley & McCloy LLP from Weil, Gotshal & Manges has brought some major deals, James Warbey is also recommended. The firm advised Goldman Sachs on bond financing for Ceske Radiokomunikace.

Within Derivatives and structured products, tier 4

Milbank, Tweed, Hadley & McCloy LLP is ‘fantastic in every area’, and James Warbey ‘consistently provides insightful analysis’. The team continues to advise the Official Committee of Unsecured Creditors of Lehman Brothers Holdings on terminated derivatives and structured finance deals. JP Morgan and Prudential Insurance are also clients.

Within High yield, tier 4

Weil, Gotshal & Manges has been actively rebuilding its London high yield practice after losing Peter Schwartz to Milbank, Tweed, Hadley & McCloy LLP; it hired Rob Ferguson from Shearman & Sterling LLP in March 2011, and David Meredith has transferred from Hong Kong.

Within Islamic finance, Milbank, Tweed, Hadley & McCloy LLP is a third tier firm,

Milbank, Tweed, Hadley & McCloy LLP has advised on Islamic financing for major projects including Saudi Arabia’s $10bn Yanbu refinery and the $4.1bn Marafiq IWPP in Jubail. John Dewar is recommended.

Within Infrastructure, Milbank, Tweed, Hadley & McCloy LLP is a third tier firm,

Milbank, Tweed, Hadley & McCloy LLP specialises in project finance, with energy and natural resources the dominant focus. Cathy Marsh and team head Phillip Fletcher are advising the lenders on the development of the $5bn Ambatovy nickel mine in Madagascar.

Within Mining and minerals, Milbank, Tweed, Hadley & McCloy LLP is a first tier firm,

Milbank, Tweed, Hadley & McCloy LLP is the ‘most sophisticated lender’s counsel for large mining finances’; ‘no other firm has the same track record in acting for lenders on big-ticket mine projects’. Cathy Marsh is an ‘immensely talented lawyer’, and is acting alongside project and asset finance head Phillip Fletcher in advising the lenders on the development of the $5bn Ambatovy nickel mine in Madagascar.

Within Oil and gas, Milbank, Tweed, Hadley & McCloy LLP is a second tier firm,

Milbank, Tweed, Hadley & McCloy LLP signature project finance practice dominates the firm’s oil and gas work, but it also handles corporate matters under Stuart Harray. John Dewar advised the lenders on the provision of a $225m facility to Reliance Industries for the acquisition of a 40% interest in the Marcellus Shale reserve.

Within Overview,

The traditional finance specialists are not the only names dominating energy; leading regulated industry players such as CMS Cameron McKenna LLP and Herbert Smith LLP are also well represented, as are US project finance powerhouses such as White & Case LLP and Milbank, Tweed, Hadley & McCloy LLP.

Within Power (including electricity, nuclear and renewables) , Milbank, Tweed, Hadley & McCloy LLP is a second tier firm,

Milbank, Tweed, Hadley & McCloy LLP has advised on over half of the projects closed in the Middle East during the last decade. Phillip Fletcher is the ‘best equipped and most sophisticated lender’s counsel around’; and John Dewar has ‘deep knowledge of the sector’. The firm advised the lenders on the financing of the Barka 3 and Sohar 2 IPPs in Oman.

Within Water, Milbank, Tweed, Hadley & McCloy LLP is a third tier firm,

Lenders’ specialist Milbank, Tweed, Hadley & McCloy LLP advises on big-ticket project financings, and is applauded for its ‘reliable, cutting-edge and commercial advice’. Deals included advising the lenders on the $3.5bn Marafiq IWPP in Saudi Arabia. John Dewar is recommended.

Within IT and telecoms, Milbank, Tweed, Hadley & McCloy LLP is a third tier firm,

Laurence Jacobs and his ‘excellent’ team at Milbank, Tweed, Hadley & McCloy LLP win praise for their ‘business acumen and industry knowledge’. The firm advised Vodafone on the renegotiation of key technology contracts, and the development of a new ADM (applications, development and maintenance) global domain strategy. The ‘excellent, innovative’ Sean Keaton advised AstraZeneca on a major global middleware project, and litigator Julian Stait represented EDS in the BSkyB case, and HP (following its purchase of EDS) in its appeal against the first instance decision.