The Legal 500

Within Banking and finance, Clifford Chance is a first tier firm,

Kremer Associés & Clifford Chance’s three-partner team handles a wide range of matters for both local and international clients. The firm’s standing in the industry was recently underscored by its involvement for the European Financial Stability Facility (EFSF), the body established to provide support for Eurozone countries in financial difficulty. Working with a number of the firm’s other European offices, as well as helping to set up the body, the team also advised it on a €27bn debt issuance programme. Using an innovative ‘double Luxco’ structure, Marc Mehlen represented the arrangers on Carlyle’s €250m acquisition financing of Groupe B&B Hotels. Steve Jacoby and Christian Kremer are recommended.

Within Corporate and M&A, Clifford Chance is a second tier firm,

Kremer Associés & Clifford Chance’s ‘very hardworking’ two-partner practice provides co-ordinated expertise across the M&A, tax and financial services disciplines and is also able to leverage its broad international network for cross-border mandates. Highlights included advising a number of private equity firms including KKR and Bain as sellers in a secondary offering of shares in NXP Semiconductors. Praised for his ‘business acumen and commercial attitude’, Christian Kremer has an excellent reputation across a broad swathe of corporate matters. Claudie Grisius handles work for a strong roster of private equity clients including KKR, CVC and Bridgepoint.

Within Dispute resolution, Clifford Chance is a first tier firm,

Albert Moro heads Kremer Associés & Clifford Chance’s team, which advises clients in litigation across a range of substantive law including shareholder disputes and insolvency cases. Able to tap into the firm’s large international network, the team is particularly well equipped to handle complex cross-border mandates.

Within Employment, Clifford Chance is a second tier firm,

Kremer Associés & Clifford Chance has ‘vast experience and knowledge’ across the full spectrum of employment issues. The firm is instructed by a number of high-profile financial institutions to advise across a broad swathe of matters including TUPE issues and workforce reductions. ‘Pragmatic and commercial’ team head Albert Moro is ‘extremely knowledgeable and able to quickly analyse any legal issue’, and counsel Isabelle Comhaire ‘provides great expertise in data protection legislation’.

Within Insurance, Clifford Chance is a third tier firm,

Kremer Associés & Clifford Chance has some regulatory capability within the sector and benefits from its connections within the financial services industry.

Within Investment funds, Clifford Chance is a second tier firm,

‘Very strong at real estate funds’, Kremer Associés & Clifford Chance has developed a notable niche advising those investing in renewable energy projects. Team head Joëlle Hauser recently advised Alterea in one such fund. Outside of this particular niche, the team recently advised Sal Oppenheim Private Equity Partners on the establishment of a new umbrella fund of funds, SICAV-FIS, to invest in private equity target funds.

Within Legal market overview,

The status quo remains largely unchanged for the leading firms in the market. Traditional independent Luxembourg firms Arendt & Medernach and Elvinger, Hoss & Prussen excel in most areas of law, while UK ‘Magic Circle’ firms Allen & Overy Luxembourg, Linklaters LLP and Kremer Associés & Clifford Chance are a natural choice on many of the more sophisticated mandates in the market, particularly those requiring a significant cross-border element. Although there has been limited disruption in the market, Bonn Schmitt Steichen split up, and two new firms were created, namely Bonn & Schmitt and Bonn Steichen & Partners.

Within Real estate, Clifford Chance is a first tier firm,

Kremer Associés & Clifford Chance is best known in the market for its ‘superb’ real estate funds work. In addition to this, the team handles debt restructuring, refinancing and M&A transactions in the sector for local and international clients. Albert Moro and Claudie Grisius are recommended.

Within Tax, Clifford Chance is a second tier firm,

Headed by François-Xavier Dujardin, Kremer Associés & Clifford Chance’s tax team provides ‘clear and accurate’ advice to clients engaged in domestic and cross-border capital markets, M&A and funds work. Dujardin recently advised Altarea Cogedin on tax aspects of the establishment of a €600m real estate investment fund.