The Legal 500

White & Case LLP


London: Corporate and commercial

Corporate tax
Corporate tax - ranked: tier 5

White & Case LLP

White & Case LLPhas remarkable technical expertise in tax advisory, structuring and transactional work’. Practice head Peita Menon and newly made partner Prabhu Narasimhan, who ‘form an impressive combination, with technical rigour complemented by commercial awareness’, advised the UK government on its proposal to implement a new withholding tax exemption for interest payments on privately placed debt. Other clients include GSO Capital Partners and Deutsche Bank.

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Equity capital markets
Equity capital markets - ranked: tier 2

White & Case LLP

White & Case LLP’s ‘prompt and reliable’ team combines ‘strong practical and legal knowledge’. The London office, which includes UK-qualified partners Philip Broke and Inigo Esteve, and US-qualified partners Laura Sizemore and Joshua Kiernan, serves as a hub for EMEA-wide work. Clients include Nostrum Oil & Gas, Deutsche Bank, HSBC and Axia Real Estate.

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Financial services
Financial services (non-contentious/regulatory) - ranked: tier 5

White & Case LLP

White & Case LLP’s Stuart Willey has ‘very sound judgement, and deep knowledge of the financial services industry and regulation’. Willey advised on the risk retention regulations regarding CLO issuance, and also provided the regulatory input in relation to ICBC’s acquisition of Standard Bank.

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

White & Case LLP

The practice at White & Case LLP was enhanced by the hire of private equity specialists Ian Bagshaw and Richard Youle from Linklaters LLP; the promotion to partnership of Marcus Booth; and the return from Russia of Jonathan Langley. With sector expertise taking in financial institutions, energy, technology and telecommunications, highlights for the team include advising the owners of Miniclip on the sale of a majority stake to Tencent Holdings. David Crook and Gavin Weir are both ‘very responsive and available’, and John Cunningham is ‘technically astute’.

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Private equity: transactions
Private equity: transactions: Large-cap deal capability - ranked: tier 2

White & Case LLP

The ‘excellentWhite & Case LLP is ‘able to put forward a variety of knowledgeable lawyers who understand their clients’. The firm continued to gain momentum following the 2013 hire of Richard Youle (‘very good at resolving issues’) and Ian Bagshaw (‘provides an excellent service and has impressive attention to detail’), as illustrated by its role advising Avast on its sale of a significant minority stake to CVC Capital Partners. The team continued to act for key clients Arle Captial Partners and HgCapital. Ross Allardice (‘excellent, with a can-do attitude’) and counsel Emma Parr (‘sound commercial judgement’) are also recommended.

Leading individuals

Ian Bagshaw - White & Case LLP

Richard Youle - White & Case LLP

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London: Dispute resolution

Banking litigation: investment and retail
Banking litigation: investment and retail - ranked: tier 3

White & Case LLP

White & Case LLP’s ‘knowledgeable and responsive’ group frequently represents investment banks and funds, with the client list including BTA Bank, GazpromBank and SRM Global Fund. Jason Yardley is ‘incredibly hardworking’, and John Reynolds (a particular focus on banking, finance and investment disputes), John Higham QC (an insolvency expert) and Charlie Lightfoot (advised on cross-border investigations conducted by regulatory authorities) are all recommended.

Leading individuals

John Reynolds - White & Case LLP

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Commercial litigation
Commercial litigation - ranked: tier 3

White & Case LLP

White & Case LLP’s ‘impressive team’ continued to represent Turkish conglomerate Çukurova in a dispute over a shareholding ownership in Turkey’s largest mobile phone company. John Reynolds is praised; Jason Yardley is ‘on top of every detail’; and Charlie Lightfootcuts to the chase’. John Higham QC and Charles Balmain are also recommended.

Leading individuals

John Higham QC - White & Case LLP

John Reynolds - White & Case LLP

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Competition litigation
Competition litigation - ranked: tier 4

White & Case LLP

White & Case LLP specialises in representing defendants in follow-on claims, and acting for financial services clients. Highlights include representing a financial institution in LIBOR investigations. John Reynolds and Charles Balmain are the main contacts.

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International arbitration
International arbitration - ranked: tier 2

White & Case LLP

White & Case LLP’s ‘excellent lawyers’ acted in a dispute over the $5.5bn Panama Canal expansion project. Phillip Capper is highly rated, David Goldberg is ‘very efficient’, and Dipen Sabharwalhas great experience’. Charlie Lightfoot and Robert Wheal are also recommended.

Leading individuals

David Goldberg - White & Case LLP

Phillip Capper - White & Case LLP

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 2

White & Case LLP

Headed by the ‘excellentLee Cullinane, White & Case LLP has a ‘very good combined bank and bond practice’, which ensures it is well placed to advise on some of the largest matters in the market. In addition to work with a US nexus, the team is also active on domestic transactions, as demonstrated by Cullinane’s representation of JP Morgan and Nomura on the £725m all-senior loan financing for Bestway Group’s acquisition of The Co-op Pharmacy. The arrival of the ‘responsive, diligent and commercialColin Harley and Martin Forbes, from Maclay Murray & Spens LLP and Clifford Chance respectively, complements the firm’s recently enhanced corporate private equity offering with the requisite financing capability. Harley advised Castik Capital on the £125m financing provided to facilitate the acquisition of Waterlogic. Jacqueline Evans, Christopher Czarnocki and Jeremy Duffy are also recommended.

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Asset finance and leasing
Asset finance and leasing - ranked: tier 4

White & Case LLP

Headed by the ‘excellentJustin Benson, White & Case LLP’s four-partner team continues to be a ‘significant player in the aviation field’, while also building up its capabilities on the shipping and rail fronts. Benson has an excellent reputation at handling ECA financings, and, alongside newly promoted partner Alison Weal, acted for UK export credit agency UKEF on the $230m export credit-supported financing of up to six Airbus A320-200 aircraft by JP Morgan for the benefit of AirAsia. Adrian Beasley is also recommended, in particular for his work for lessors and operators. Other clients include Alpha Trains, Barclays and DVB Bank.

Leading individuals

Justin Benson - White & Case LLP

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Bank lending: investment grade debt and syndicated loans
Bank lending: investment grade debt and syndicated loans - ranked: tier 2

White & Case LLP

If you need a firm with solid US and English-law expertise, then this is the one’, says a client of White & Case LLP. Lee Cullinane advised bookrunners including JPMorgan on a £725m loan for Bestway Group. Jeremy Duffy’s highlights include a €1.4bn debt refinancing for Bank of Tokyo-Mitsubishi. Also recommended are private equity specialist Colin Harley; emerging markets expert Christopher Czarnocki; Jacqueline Evans and Rob Bennett, who acted for Rhône Capital; and Gareth Eagles. Martin Forbes joined from Clifford Chance.

Leading individuals

Lee Cullinane - White & Case LLP

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Corporate restructuring and insolvency
Corporate restructuring and insolvency - ranked: tier 4

White & Case LLP

Headed by the ‘robust and thoroughChristian Pilkington, White & Case LLP has a ‘deep understanding of the restructuring market’ and continues to appear for a range of stakeholders in many major cross-border mandates. Highlights include advising New World Resources on its €825m high yield bond restructuring. Laura Prater is ‘always willing to go the extra mile to provide a workable solution’; as well as working with Pilkington on the above matter, she also represented Deutsche Bank, as new money provider, on APCOA’s restructuring. The team is also regularly instructed by alternative capital providers, including GSO Capital Partners and Anchorage Capital.

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Debt capital markets
Debt capital markets - ranked: tier 2

White & Case LLP

Committed and client-oriented’, White & Case LLP is ‘hands-down the best firm in the City for emerging markets debt’. Stuart Matty and Doron Loewinger represented lead managers on the Republic of Côte d’Ivoire’s $750m offering. Francis Fitzherbert-Brockholes (‘fights tooth and nail for clients’) advised lead managers including Citigroup on Republic of Kazakhstan’s $10bn MTN programme. The ‘hands-onMichael Doran acted for Barclays Bank on a ZAR2bn equity-linked offering. Melissa Butler (‘one of the best partners in the City’) advised on Nigeria’s sovereign bond. Also recommended are Ian Clark, who acted on Ukraine’s $1bn offering, and Michael Immordino, who advised Aeroporti di Roma on a $1.5bn EMTN programme.

Leading individuals

Francis Fitzherbert-Brockholes - White & Case LLP

Melissa Butler - White & Case LLP

Stuart Matty - White & Case LLP

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Derivatives and structured products
Derivatives and structured products - ranked: tier 2

White & Case LLP

Engaging White & Case LLPfeels like getting a boutique service of the very highest quality’. Gavin McLean, who ‘has in-depth knowledge and is one of the most trustworthy people in the market’, and Joshua Parbhu advised lead managers on a $253m structured note. Ingrid York is ‘extremely helpful, commercial and user friendly’. David Barwise, who ‘knows something about every capital markets subject that exists’, is central to the London practice. The firm’s reputation for leading infrastructure deals was cemented by matters such as the first project bond with European Investment Bank credit enhancement in Germany – an $850m deal in which the team advised lead managers Société Générale and Credit Agricole.

Leading individuals

Ingrid York - White & Case LLP

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Emerging markets
Emerging markets - ranked: tier 1

White & Case LLP

No lawyers compare in terms of knowledge of Africa – they have cornered the market’, says a client of White & Case LLP, who highlights capital markets partners Stuart Matty and Melissa Butler as ‘the best lawyers working in Africa and frontier markets’. The pair advised Republic of Zambia on its $1bn debut sovereign bond. Jason Kerr represented nine ECAs on the $5.7bn financing of a gas-to-liquids plant in Uzbekistan, and lenders in a $1bn power plant financing in Turkey. Philip Stopford acted for the sponsor on a $5bn petrochemical plant in Egypt. Christopher Czarnocki stands out for receivables financing. Clients say ‘the deal team runs like a Swiss train’.

Leading individuals

Christopher Czarnocki - White & Case LLP

Jason Kerr - White & Case LLP

Melissa Butler - White & Case LLP

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High yield
High yield - ranked: tier 2

White & Case LLP

Absolutely top-notch firmWhite & Case LLP is ‘detail-oriented and thoughtful, always looking to go the extra mile to provide the best service’. Rob Mathews (‘clearly on top of his game with decades of experience’) and Jill Concannon acted for Polish company Play on its €870m inaugural bond issue. Mathews and David Becker advised B Communications on its $800m bond. ‘One of the strongest in the London market’, associate James Greene is a rising star.

Leading individuals

Rob Matthews - White & Case LLP

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Islamic finance
Islamic finance - ranked: tier 2

White & Case LLP

White & Case LLP’s Islamic finance team leverages the firm’s reputation in project finance to act on some of the biggest Middle-Eastern deals in the sector; Philip Stopford and Kirsti Massie advised Egyptian Electricity Holding Company and Al Nowais Investments on the construction of a 2,640 MW coal-fired power generation plant. UAE-based Shibeer Ahmed represented, alongside a large team of London lawyers, the Indonesian government in its $1.5bn sukuk issued as a Rule 144A/Reg S offering. Tom Bartlett is another name to note.

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Overview

US firms continue to feature heavily across numerous practice areas in the finance section, reflecting the changing nature of deals – particularly in relation to bigger-ticket matters – whereby borrowers, keen to have a degree of flexibility, wish to have the ability to either finance a deal solely from the UK/European markets or through the US Term Loan B and high yield markets. This trend has manifested itself most readily in the acquisition finance, high yield and corporate restructuring sections in particular, where Latham & Watkins ranks highly along with White & Case LLP; the latter saw promotion in a number of areas including acquisition finance, derivatives, securitisation and corporate restructuring sections, and is the US firm with the most complete finance offering. Leveraging off their respective pre-eminent sponsor client bases, Kirkland & Ellis International LLP and Simpson Thacher & Bartlett LLP perform well for acquisition finance and corporate restructuring, as does Weil, Gotshal & Manges, which, in addition to its entrenched private equity ties has successfully picked up increased market share on the banking front.

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Securitisation
Securitisation - ranked: tier 3

White & Case LLP

White & Case LLP has a ‘solid, reliable and organised’ practice that is among the best for advising arrangers on European CLO deals. In Gavin McLean’s team, Joshua Parbhu (‘a CLO lawyer of choice’) and derivatives expert Ingrid York advised JPMorgan on the €361m St. Paul’s CLO, and on the €565m Babson Euro CLO. The firm is particularly strong in emerging markets transactions, including covered bonds.

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Trade finance
Trade finance - ranked: tier 1

White & Case LLP

White & Case LLP has grown its presence in the market by adding top-three commodity trading house Trafigura to a client list that includes MetInvest, BNP Paribas, JPMorgan and Deutsche Bank. Practice head Christopher Czarnocki advised Trafigura Peru on a $750m secured borrowing base financing. Jason Kerr and Tom Bartlett acted for the lender in a $700m reserve-based lending facility linked to African oilfield projects.

Leading individuals

Christopher Czarnocki - White & Case LLP

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London: Human resources

Employee share schemes
Employee share schemes - ranked: tier 4

White & Case LLP

Highlights at White & Case LLP included acting for Industrial Commercial Bank of China (ICBC) on its $770m majority stake acquisition in Standard Bank. Practice head Nicholas Greenacre is praised by clients for his clear advice and client handling, which is ‘exemplary’.

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Employment: employers and senior executives
Employment: employers - ranked: tier 5

White & Case LLP

White & Case LLP’s ‘excellent’ team has a close relationship with its US practice, and an impressive international client base, including Koch Industries and Dow Jones. The group advised on a pan-European project for Office Depot, which involved consultation with employee representative bodies. Stephen Ravenscroft and Oliver Brettle co-head the team.

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London: Projects, energy and natural resources

Infrastructure (including PFI and PPP)
Infrastructure (including PFI and PPP) - ranked: tier 2

White & Case LLP

White & Case LLP’s augmented its always-impressive European PPP and project finance workload with some impressive emerging markets instructions. Philip Stopford and Caroline Miller Smith advised Vale on the proposed Nacala Corridor railway project in Mozambique, and Stopford acted for Qatar Rail on the $37bn Qatar Integrated Railway Project. Team head Jason Kerrhas profound knowledge and is a pleasure to work with’.

Leading individuals

Philip Stopford - White & Case LLP

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Mining and minerals
Mining and minerals - ranked: tier 2

White & Case LLP

White & Case LLP’s London team was part of the huge cross-office group that advised the purchasing consortium, led by China Minmetals, of the $7bn Las Bambas copper mine in Peru. Other highlights included assisting Norilsk Nickel on its $337m sale of its African operations to BCL. Rebecca Campbell, who acted on both these deals, was previously senior in-house counsel at BHP Billiton, and is a key contact, as is Hong Kong-based John Tivey.

Leading individuals

Rebecca Campbell - White & Case LLP

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Oil and gas
Oil and gas - ranked: tier 2

White & Case LLP

White & Case LLP’s ‘project finance leadership is world class’, and the firm ‘has good knowledge of the various ways gas can be monetised’. Group head Jason Kerr’s ‘deep experience of the deals and the players provides tremendous value’; Mark Castillo-Bernaus’ ‘extensive market knowledge is allied with a passion for each mandate’; and Peter Finlay is ‘excellent at managing large teams, and first rate in negotiations’. Highlights include the Yamal LNG project (lender-side), the Brass LNG (sponsor-side), and the Al-Karaana petrochemical complex (Qatar Petroleum and Shell as project sponsors).

Leading individuals

Philip Stopford - White & Case LLP

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Power (including electricity nuclear and renewables)
Power (including electricity, nuclear and renewables) - ranked: tier 2

White & Case LLP

White & Case LLP’s ‘projects team is a delight to work with’ and praised for its ‘commercial acumen’. Indicative of its reputation for groundbreaking power infrastructure firsts, the London team advised the project company and sponsors on the proposed 1,000 MW interconnector between the UK and France, and the sponsor on the development of the “IceLink” geothermal power cable between Iceland and the UK. Kirsti Massie is ‘always a positive bridge between parties in tense negotiations’; Mark Castillo-Bernausalways finds a commercially reasonable solution’; and David Baker is ‘personable and proactive’. Team head Jason Kerr, Philip Stopford and Caroline Miller Smith are other key names in the market-leading EMEA power projects practice.

Leading individuals

David Baker - White & Case LLP

Jason Kerr - White & Case LLP

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London: Real estate

Commercial property
Commercial property: general - ranked: tier 3

White & Case LLP

Commercial property: hotels and leisure - ranked: tier 4

White & Case LLP

White & Case LLP was involved in some highly impressive matters, such as its acquisition of an ‘entire city’ – Barwa City – for Qatari Diar. The $2bn purchase marked Qatar’s largest ever real estate transaction, and was led by the ‘very able’, ‘authoritative’ practice head James Dodsworth, whose advice is ‘strategic’. David Cox is ‘diligent, responsive and commercial’.

Leading individuals

James Dodsworth - White & Case LLP

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Construction
Construction - ranked: tier 2

White & Case LLP

White & Case LLP’s practice, which is led by FIDIC specialist Ellis Baker, exclusively focuses on high-value international work: the team is advising Qatar Rail on the construction of the Qatar Integrated Railway Project and is also advising Star Capital on the development of a 1,000MW DC power interconnector project between the UK and France. On the contentious side, Phillip Capper acted for GUPC and its shareholders in a dispute with the Panama Canal Authority relating to the $5.5bn Panama Canal expansion project.

Leading individuals

Phillip Capper - White & Case LLP

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Property finance
Property finance - ranked: tier 5

White & Case LLP

Thanks to Cerberus Capital Management, its flagship client, White & Case LLP worked on some very impressive deals, acting for the company on its acquisition of a €1.5bn European real estate loan portfolio from Lloyds Banking Group, secured against real estate in 11 different countries. The team is led by David Cox.

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London: TMT (technology, media and telecoms)

Data protection
Data protection - ranked: tier 3

White & Case LLP

Careful and thoughtful’ counsel John Benjamin is responsible for data protection at White & Case LLP, following Ashley Winton’s move to Paul Hastings LLP in November 2014. Facebook is a key client, and the firm advised EMCOR Group in relation to claims of blacklisting.

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IT and telecoms
IT and telecoms - ranked: tier 4

White & Case LLP

White & Case LLP’s telecoms team is led by David Eisenberg, whose highlights included acting for African telecoms operator Afrimax Group in its joint venture with Vodafone and advising Virgin Mobile Central and Eastern Europe in an equity capital funding round.

Leading individuals: telecoms

David Eisenberg - White & Case LLP

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London: Transport

Rail
Rail - ranked: tier 3

White & Case LLP

Led by Philip Stopford, White & Case LLP is recommended for its ‘depth of sector knowledge’, and advised Qatar Rail on the construction of the Qatar Integrated Railway Project. Alpha Trains and Samsung C&T Corporation are also clients. Phillip Capper, David Eisenberg, Ellis Baker and Caroline Miller Smith are all recommended in the ‘experienced’ team.

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Further information on White & Case LLP

Please choose from this list to view details of what we say about White & Case LLP in other jurisdictions.

United Arab Emirates

Offices in Abu Dhabi and Dubai

Belgium

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China

Offices in Beijing and Shanghai

Czech Republic

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Germany

Offices in Frankfurt, Hamburg, Berlin, Munich, and Dusseldorf

Algeria

Spain

Offices in Madrid

Finland

Offices in Helsinki

France

Offices in Paris

Ghana

Hong Kong

Offices in Hong Kong

Indonesia

Offices in Jakarta

Latin America: International firms

India

Italy

Offices in Milan

Japan

Offices in Tokyo

Kazakhstan

Offices in Almaty and Astana

London

Offices in London

Morocco

Mexico

Offices in Mexico City and Garcia

Philippines

Poland

Offices in Warsaw

Qatar

Offices in Doha

Russia

Offices in Moscow

South Africa

Offices in Johannesburg

Sweden

Offices in Stockholm

Singapore

Offices in Singapore

South Korea

Offices in Seoul

Slovakia

Offices in Bratislava

Saudi Arabia

Offices in Riyadh

Switzerland

Offices in Geneva

Turkey

Offices in Istanbul and Istanbul

United States

Offices in Washington DC, Miami, New York, Los Angeles, and Palo Alto

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