The Legal 500

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

Clifford Chance advises on the full spectrum of financial products and particularly ‘acts on transactions with a high level of difficulty, and which require very specific assistance’. It is also ‘especially good at overseas transactions’. Clients include Citibank, Banco Santander and Société Générale. Alberto Manzanares heads the team, which also includes José Manuel Cuenca, Pablo Bieger, Carlos Hernández-Canut, Yolanda Azanza, and English law specialist Stuart Percival. The practice delivers ‘quality service and excellent efficiency’.

Within Capital markets, Clifford Chance is a second tier firm,

Clifford Chance is widely recognised as one of the leaders for debt capital markets, acting for international and domestic banks and Spanish issuers. The team recently acted for Morgan Stanley on an exchange offer for Banco Santander’s securities. It specialises in large and complex transactions, and ‘has coverage in many jurisdictions with good interaction between offices, which is a benefit to global clients’. Practice head Jose Manuel Cuenca is ‘always good at providing imaginative solutions’, while Javier García de Enterría is ‘good at decision-making’ and Stuart Percival is recommended for English law advice.

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

Clifford Chance demonstrates ‘industry savvy’ and a ‘consistently high level of quality’ on domestic and international transactions. Recent highlights include advising Red Eléctrica de España on acquiring the electric power transmission assets of Endesa Distribución Eléctrica. José María Fernández-Daza has ‘encyclopaedic knowledge’ while Jaime Velázquez ‘understands the business drivers of a project and how to run a team efficiently’. Javier García de Enterría has ‘excellent knowledge on securities and corporate law’.

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

Clifford Chance has considerable litigation expertise and a prominent arbitration practice including investment arbitration. The group has recently been advising Abengoa in arbitration pertaining to the construction of a power plant, and represented Endesa in a damages claim filed by Iberdrola as a consequence of its takeover bid for the client. José Antonio Caínzos heads the department, while Iñigo Villoria recently made partner.

Within EU and competition, Clifford Chance is a first tier firm,

Clifford Chance’s ‘excellent’ practice receives rave reviews for ‘high-quality work and total dedication’. Recent highlights include representing Iberia in the first transatlantic airline alliance case to be decided by the European Commission, involving the negotiation of simultaneous commitments under EU and US law. Other recent mandates include advising Freyssinet on a preliminary investigation opened by the Spanish Competition Authority. The ‘very knowledgeable’ Miguel Odriozola oversees the department, with Barcelona-based Miquel Montaña recommended for antitrust litigation.

Within Employment, Clifford Chance is a second tier firm,

Juan Calvente heads Clifford Chance’s Spanish employment practice, which has representatives in Barcelona and Madrid. The team recently advised Santander on various inspection procedures, and acted for Reckitt Benckiser on restructuring staff, expatriate matters, and terminating senior executive employment agreements. It also advised Malaga Football Club on employment law.

Within Environment, Clifford Chance is a second tier firm,

Clifford Chance’s practice covers the full spectrum of environmental work and is expert on carbon trading issues. Juan Jose Lavilla leads the team, which recently advised Banco Sabadell on its role as central counter-party of SendeCO2, the Mediterranean carbon trading exchange, including structuring the platform and drafting relevant agreements.

Within Insurance, Clifford Chance is a second tier firm,

Clifford Chance actively advises on insurance and reinsurance regulatory issues, insurance policies, mediation, and pension schemes and funds. The team recently advised a leading reinsurance group on selling its Spanish subsidiary. Other clients include Merrill Lynch, Carrefour Group and Barclays. Senior associate Jaime Sánchez heads the practice.

Within Intellectual property, Clifford Chance is a first tier firm,

Clifford Chance has a ‘very good patents team’ and in Miquel Montañá has arguably ‘the best IP lawyer in Spain for pharmaceuticals’. Montserrat López-Bellosta is also recommended. The firm has been representing Pfizer on a number of matters, including a patent infringement action against two companies that launched amlodipine besylate generics onto the Spanish market while Pfizer’s process patent was still in force. Other instructions came from Aston Martin, regarding trade mark enforcement against possible infringers in Spain.

Within Legal market overview,

Spain is dominated by the historical ‘Big Three’ domestic firms – Cuatrecasas, Gonçalves Pereira, Garrigues and Uría Menéndez. The UK firms of Clifford Chance, Linklaters SL and Freshfields Bruckhaus Deringer follow closely, particularly when competing for top-end transactions, and newcomer Herbert Smith LLP has made a good first impression in the market.

Within Projects and energy, Clifford Chance is a first tier firm,

Clifford Chance’s impressive energy practice represents major players in the national market as well as foreign investors. One recent highlight has been advising on the only carbon capture and storage project in Spain, including procuring financial aid through the European Energy Programme for Recovery. The group is also advising Acciona on potential modifications by the government to the current remuneration system for wind farms. Regulatory partner Juan José Lavilla and corporate partner José María Fernández-Daza are recommended.

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

Clifford Chance’s real estate team ‘operates to the highest standards’. The team was recently involved in one of the largest sale and leaseback transactions in Europe when it advised BBVA on a €1.2bn deal involving 1,000 bank branches and other buildings. Other recent work includes advising Santander Banif Real Estate on the €270m sale of a shopping and leisure centre and office building in Madrid. The group also advised Banesto on refinancing a loan facility for plots of land in Mallorca. Alfonso Benavides and Carlos Portocarrero are recommended for their ‘excellent legal knowledge and risk assessment, and defence of the client’s position’.

Within Restructuring and insolvency, Clifford Chance is a first tier firm,

At Clifford Chance, Carlos Hernández-Canut leads the restructuring team while Íñigo Villoria is the main contact for insolvency proceedings. Collectively, the practice is noted for its ‘high level of service, good legal knowledge and commercial awareness’. Representations in 2010 included acting for developer Labaro and advising lenders on Martinsa-Fadesa’s insolvency.

Within TMT, Clifford Chance is a second tier firm,

Clifford Chance’s ‘superb’ practice is renowned for its ‘excellent knowledge of industry and telecoms law’. It recently acted for ONO on several administrative appeals and advised the client on regulatory issues including new laws on audio-visual communications and the radio-electric spectrum. Practice head Juan José Lavilla is ‘a thorough and enthusiastic analyst of the law’. In October 2010, Pablo Mayor left the practice to join Allen & Overy.

Within Tax, Clifford Chance is a third tier firm,

Jose Ignacio Jiménez-Blanco leads the tax team at Clifford Chance, which incorporates wealth management and private banking practices. Of counsels Pablo Serrano de Haro and Roberto Grau are recommended for their ‘deep knowledge about tax legal matters’. Recent work highlights include advising Banco Santander on its international real estate transactions such as disinvesting in €200m assets in France.