The Legal 500

Within Corporate tax, Weil, Gotshal & Manges is a third tier firm,

Clifford Chance’s team has strength in areas such as Islamic finance and private equity work, and has been active in advising on new developments such as the US Foreign Account Tax Compliance Act and the proposed EU financial transaction tax. It recently provided Equistone Partners Europe with cross-border corporate, tax structuring and regulatory advice relating to its taking over the management of Barclays Private Equity Funds I, II and III; and advised RBS on the disposal of its aviation leasing unit. In an unsettled year for the team, Nina Buchan retired from the partnership, Mark Persoff joined Ernst & Young, Michael Brosnahan left practice, and Jonathan Kandel joined Weil, Gotshal & Manges.

Within Equity capital markets: UK capability, tier 4

Weil, Gotshal & Manges is ‘a very strong firm’. James Cole (a ‘tough negotiator, and very commercial’) is advising Citi and Société Générale on the IPO of Romanian state utility Hidroelectrica. Also recommended are David Meredith, who is representing state asset holding company Fondul Proprietera on its London listing; Peter King; and James Cousins, a ‘technically excellent senior associate with a pragmatic approach’.

Within Equity capital markets: US capability, Weil, Gotshal & Manges is a third tier firm,

Weil, Gotshal & Manges is ‘a tremendous firm in emerging markets, with an excellent track record’. David Meredith is a ‘thoughtful, considerate adviser to issuer or underwriter’, and Rob Ferguson has ‘vast experience and detailed product knowledge’.

Within EU and competition EU and competition

Within M&A: premium deals, £250m+, tier 4

Weil, Gotshal & Manges’ six-partner team ‘approaches problems from an incredibly practical perspective’ and ‘brings an intensity to deals that is sometimes lacking in other firms’. The firm benefits from key private equity clients such as GE and Mubadala, and advised on 41 deals at an average value of $382m in 2011. Highlights included advising Environmental Resources Management (ERM) and its shareholders on the $950m sale of a 65% stake in ERM to Charterhouse Capital; and Apax Partners and HiT Entertainment in the latter’s acquisition by Mattel for $680m. Mike Francies and the ‘highly perceptive’ Peter King are recommended, as is ‘great deal manager’ Ian Hamilton.

Within Private equity: transactions, Weil, Gotshal & Manges is a second tier firm,

The ‘world-class’ team at Weil, Gotshal & Manges provides ‘a very commercial approach’ to an ever-expanding client roster that includes many of the most prominent sponsors in the market, including Advent International, Bridgepoint and Oaktree. ‘An excellent deal doer’, Marco Compagnoni recently advised Providence Equity Partners on its £667m sale of Phones4U to BC Partners, while on the buy side Jonathan Wood acted for Advent International on its £925m acquisition of the Priory Group. Other recommended partners include Mike Francies, who is ‘excellent at laying out all the risks but also explaining which are worth taking for the greater good of the deal’; and Mark Soundy, who is ‘one of the most experienced, constructive and thoughtful transaction leaders in the industry’.

Within Commercial litigation, tier 4

Weil, Gotshal & Manges is ‘perfect for complex cases’. Its recent work includes advising the joint special administrators to MF Global UK in respect of MFG UK’s special administration, likely to become one of the largest UK insolvencies in the last decade. Juliet Blanch is a ‘highly respected practitioner’; Matthew Shankland is well respected; and Jamie Maples is ‘one to watch’.

Within International arbitration, tier 5

Weil, Gotshal & Manges’ Juliet Blanch is ‘a joy to work with’, and Jamie Maples is ‘smart and down to earth’. The practice was instructed by the Williams Companies, which filed for international arbitration against Venezuela, seeking compensation for two natural gas compression facilities allegedly ordered to be seized by President Hugo Chávez in 2009. Matthew Shankland is a key adviser.

Within Acquisition finance, tier 4

The ‘extremely competent, effective and practical’ team at Weil, Gotshal & Manges has been involved in the financing of a raft of deals for clients such as Lion Capital, Oaktree and Cinven. The ‘extraordinarily effective and practical’ James Hogben is ‘clearly at the top of his game’, and recently advised OMERS Private Equity on the £317m acquisition of V.Group from Exponent Private Equity. The team also works in close co-operation with the firm’s ‘world-class’ restructuring group, and is regularly involved in distressed M&A deals. The ‘very experienced, commercial and energetic’ Stephen Lucas is also recommended.

Within Corporate restructuring and insolvency, Weil, Gotshal & Manges is a third tier firm,

At Jones Day, US-qualified ‘restructuring lawyer par excellence’ Corinne Ball will now be splitting her time between the firm’s London and New York offices; the move is indicative of an increased focus on European restructurings and a shot in the arm following the departure of Adam Plainer to Weil, Gotshal & Manges. The team has been particularly active on distressed M&A transactions, including advising Wilbur Ross on the acquisition of Northern Rock by Virgin Money. Kay Morley advised the Jarvis Hotels Group on the restructuring and sale of the majority of its hotel portfolio to Jupiter Hotels. Leading restructuring lawyer Matthew French joined in March 2012.

Within Debt capital markets, tier 4

The ‘small, agile and very strong’ team at Weil, Gotshal & Manges represented CEZ on a £1bn Yankee bond issue. James Cole is ‘a very commercial lawyer with good management skills’.

Within Derivatives and structured products, tier 4

Weil, Gotshal & Manges’ lawyers ‘regularly go the extra mile’. Jacky Kelly heads the team, which includes Steven Ong, who is ‘very knowledgeable, especially on non-conforming deals’, and Mirella Hart. Ong advised the administrators of MF Global on derivatives aspects of its bankruptcy.

Within High yield, Weil, Gotshal & Manges is a third tier firm,

‘Not only diligent, but also creative’, the team at Weil, Gotshal & Manges advised Oaktree Capital on the proposed dual-track IPO and stapled high yield bond for the sale of the company. Robert Ferguson acted for Cinven in a complex bond issuance refinancing which married UK, US and French law. David Meredith is a ‘thoughtful and analytical lawyer’ as well as a ‘good problem solver’.

Within Investment funds, Weil, Gotshal & Manges is a second tier firm,

‘Superior and very strong technically’, Weil, Gotshal & Manges’ new private equity team advised on Apax VIII as well as on BC Partners’ BC European Capital IX fundraising. Ed Gander, Jonathan Kandel, Nick Benson and Nigel Clark are recommended, as are senior associates Stephen Fox and James Gee.

Within Overview,

US firms also feature prominently in the rankings, in particular for acquisition finance, corporate restructuring and high yield. White & Case LLP, one of the best-established firms in the London market, continues to have the broadest capability, while other firms featuring highly in multiple rankings include Weil, Gotshal & Manges; Shearman & Sterling LLP; Kirkland & Ellis International LLP; and Skadden, Arps, Slate, Meagher & Flom (UK) LLP. Other strong performers include Bingham McCutchen (London) LLP, which has a top-tier showing for corporate restructuring thanks to its market-leading bondholder practice; Ropes & Gray LLP has made significant strides in a number of finance areas since it set up in London in January 2010; and Simpson Thacher & Bartlett LLP, which excels at leveraged finance and has strong ties with some of the market’s most significant sponsors, including KKR and Blackstone.

Within Securitisation, Weil, Gotshal & Manges is a second tier firm,

Weil, Gotshal & Manges ‘ticks all the boxes’, and is ‘a definite “go-to” firm with a deep understanding of complex legal and commercial considerations’. Jacky Kelly has ‘wide experience, and is instinctive and insightful, with a no-nonsense approach’. She advised on a €70m ABCP conduit as part of Morgan Stanley Private Equity’s acquisition of Zenith, and represented investment banks on the Lloyds Penarth credit card deals totalling £625m and $1.3bn. Rupert Wall has ‘a strong focus on substantive issues’ and Brian Maher is ‘instinctive, technical, commercial – he is in a class of his own’; both were also involved in the Lloyds Penarth deals.

Within Employee share schemes, tier 5

Sarah Priestley is recommended at Weil, Gotshal & Manges.

Within Pensions, Weil, Gotshal & Manges is a second tier firm,

Weil, Gotshal & Manges joins the dispute resolution ranking this year, and rises a tier in the non-contentious ranking. The firm is advising Lehman Brothers Holdings on the UK pensions and insolvency issues arising from the Lehman Brothers bankruptcy proceedings. Other clients include OMERS, Advent International and KPMG as joint special administrators to MF Global UK. Joanne Etherton is ‘highly knowledgeable and talented’ with ‘a great eye for detail’, and is ‘a good tactician and incredibly hardworking’. Juliet Blanch is ‘one of the most experienced and best litigators you will come across in any firm in this country’.

Within Commercial property, tier 6

Weil, Gotshal & Manges advised Lion Capital on the sale and leaseback of Weetabix’s two main UK factories. Other clients include Lehman Brothers, Advent International and GE. Rupert Jones heads the team.

Within Property finance,

Hogan Lovells International LLP’s ‘approach is one of teamwork, strength in depth and client focus’. Andrew Welbourn’s team advised the senior lenders on their refinancing and financing of the development of the Commonwealth Institute property. Clients also include Barclays Capital, Deutsche Pfandbriefbank AG and HSBC. Mark Donald joined Weil, Gotshal & Manges.

Within Media and entertainment, Weil, Gotshal & Manges is a third tier firm,

Weil, Gotshal & Manges’ transactions-oriented practice shows ‘cutting-edge knowledge and keen commercial sense’, and is well supported by colleagues in the US. Mark Soundy advised Apax Partners and HiT Entertainment on the $680m sale of HiT Entertaiment to Matte; and acted for GMT Communications Partners on its £39m investment in MeetingZone, its acquisition of the Karnov Group, and its $350m sale of Bigpoint. Barry Fishley advised Mubadala Development Company PJSC as a member of a consortium that agreed to purchase EMI Group’s music publishing operations for $2.2bn.