Clifford Chance > Munich, Germany > Firm Profile

Clifford Chance > The Legal 500 Rankings

Banking and finance > Financial services: regulatory Tier 1

Clifford Chance comprehensively advises on banking and regulatory matters in the transactions space, here, practice head Marc Benzler regularly takes the lead. The team also covers regulatory audits, licensing and owner control procedures as well as derivative regulation and documentation matters. In addition to his experience in transactions, Benzler is a key contact for European regulatory law matters, where he frequently cooperates with the firm’s international regulatory experts. He is supported by counsel Kerstin Schaepersmann, who is well versed in regulatory and structured financing matters.

Banking and finance > Investment funds Tier 1

Clifford Chance 's expertise in investment law is complemented by interfacing tax and regulatory competencies pertaining to capital investments, which cover all asset classes, including alternative assets such as real estate, private equity and private debt. Among the client roster are investment companies, financial institutions and insurance companies, which regularly instruct Marco Simonis (structuring, launch and management of investment products; fund-related structured products) and Sonya Pauls (corporate, private equity). Most recent work pertains to alternative investment structures, the restructuring of fund participation and fundraising as well as traditional fund launches and structuring; the team demonstarted these competencies in the infrastructure and energy sectors.

Banking and finance > Project finance Tier 1

Clifford Chance's project and asset finance group is regularly instructed by lenders, governments, investors, project developers and companies on international projects. Recent examples include the advice to the government of the Republic of Namibia on the development of the largest fully vertically integrated green hydrogen project in sub-Saharan Africa, which emphasises the practice's focus on the energy sector; the other sector focus is infrastructure. Practice head Florian Mahler boasts similar competencies and also acts as co-head of the global projects group since May 2023. Further mainstays include expertise in ECA and state-supported financing, Anna Thwaites is a key contact here, as well as joint venture and non-recourse project financing. Christof Häfner complements this with expertise in ​​asset financing with a focus on the aviation and rail sectors. Beda Wortmann is a key contact for PPPs and also covers the real estate financing area.

Capital markets > Structured finance and securitisation Tier 1

Clifford Chance's broad team continues to be one of the first ports of call for structured financing and securitisations, with strengths including transactional support in the infrastructure and renewable energy sectors; geographically, the practice focuses on Central and Eastern European as well as Asian transactions. Banks, fund sponsors, asset managers and companies also benefit from its expertise in alternative investments, funds and related regulatory matters. Oliver Kronat, who provides comprehensive advice on national and international structured financing (also experienced in the restructuring of securitisation and other financing transactions), leads the team, which also includes counsel Kerstin Schaepersmann (risk transfer transactions and synthetic securitisations) and counsel Hannes Deusch (receivables financing).

Compliance Tier 1

Clifford Chance acts integrated into the firm's White Collar, Regulatory & Compliance practice and supports financial, industrial, logistics, manufacturing and trading companies in preventive compliance matters. Among the cross-border competencies are the advice on anti-corruption, financial and economic sanctions, money laundering, data protection, digital governance, capital markets law, antitrust law as well as healthcare and tax compliance. ESG-related topics are another key strength of the team led by Peter Dieners (healthcare) and Heiner Hugger (criminal law compliance). Thomas Voland advises on human rights and environmental issues pertaining to supply chains and companies and Ines Keitel is a key contact for employment law. Gunnar Sachs is well versed in product compliance and digital governance.

Corporate and M&A > M&A

Clifford Chance is primarily active in the energy and infrastructure, telecommunications and automotive sectors and advises DAX and other major German companies on joint ventures, minority investments, sell-offs and demergers as well as on public takeovers and capital market transactions. Jörg Rhiel (acquisitions, sales, mergers and joint ventures) and Christoph Holstein (cross-border transactions and global restructuring) have been jointly heading the corporate department since November 2022 and are supported by transaction specialist Thomas Krecek (focus on financial services companies), Anselm Raddatz, who focuses on private equity, and public and private M&A expert Markus Stephanblome. The group also promoted three lawyers to the partnership: Dominik Heß, who is experienced in corporate law, and Simon Schmid, who advises on private M&A deals in the automotive and healthcare sectors, made partner in May 2022, while Moritz Petersen, who assists financial investors and companies with transactions, followed in May 2023.

Industry focus > Healthcare and life sciences

Clifford Chance multidisciplinary global life sciences, healthcare & chemicals team, led by Peter Dieners and Ulrich Reese, is among the top addresses in Germany and offers comprehensive advice to its clients. The practice covers current developments in the healthcare sector, such as the use of AI, the increasing use and approval of digital healthcare apps including related data protection and reimbursement law matters, as well as topics pertaining to medical robotics, the development of fully integrated digital healthcare platforms and cyber attacks. Also active in the ever-growing healthcare technology area is Gunnar Sachs. The latter, Reese and Jörg Rhiel also assist with transactions, while Dieners is a key contact for compliance issues.

Intellectual property > Patent litigation: solicitors

In addition to litigation, Clifford Chance's patent expertise also includes licensing agreements as well as IP support for M&A transactions. The group impresses with its broad sector expertise, ranging from computer technology to pharmaceuticals and aerospace. Practice head Claudia Milbradt handles forensic patent matters as well as trade mark disputes and often appears in cross-border litigation. Tobias Hessel and Stefan Richter, both of whom are particularly experienced in the telecommunications, health and technology industries, are other key contacts.

Private equity > Transactions

Clifford Chance supports national and cross-border mid- and large-cap transactions and has strong relationships with large and mid-cap PE houses. The practice’s expertise is primarily utilised in the infrastructure and healthcare sectors, whereas the industry expertise also extends to the finance and technology sectors. The regulated industries are a core focus of practice head Anselm Raddatz, who also supports private equity investments. The transaction support is complemented with the advice on related issues from the ECM, DCM, restructuring, sanctions and compliance segments, which are handled in cooperation with the experts from the respective practice areas. Sonya Pauls is well versed in fund structuring. Frederik Mühl (PE and infrastructure M&A) joined Paul Hastings LLP in June 2023.

Real estate and construction > Real estate Tier 1

Clifford Chance interdisciplinary approach focuses on real estate investment and transaction support, including related financing and tax structuring as well as property repositioning, project developments, joint venture structures, fund structuring and tenancies; this is complemented by expertise in related contentious matters. The team covers numerous asset classes with a particular focus on specialist properties such as logistics, data centers and hospitals. Practice head Christian Keilich supports both national and cross-border real estate investments, transactions and development projects. Fabian Böhm regularly assists with portfolio transactions and is frequently instructed by investors and banks on financing and refinancing, while Philipp Stoecker comprehensively covers civil law matters in the real estate sector and boasts additional expertise in transactions and investments.

Restructuring and insolvency > Restructuring Tier 1

Clifford Chance cooperates closely with the firm's global restructuring, distressed M&A and litigation practices. This cross-border expertise is called upon by banks, financiers and funds as well as numerous companies when examining the applicability of foreign restructuring tools. In early 2023, practice head Stefan Sax was appointed to German managing partner; he focuses on cross-border financial restructuring and insolvency. Counsel Martin Jawansky has experience in restructuring transactions. Cristina Weidner (financial restructuring and corporate restructuring) joined the Munich location of Kirkland & Ellis International LLP in May 2023.

Trade and distribution > Foreign trade law

Clifford Chance advises international corporations on investment control, supply chain compliance (LkSG) and ESG guidelines, while public sector clients request the practice’s expertise in drafting foreign trade laws and regulations. Thanks to a cross-practice approach, the practice is experienced in international market-shaping proceedings; here, investment control and arbitration specialist Moritz Keller is the key contact. The investment control and antitrust law expert Dmitri Slobodenjuk and compliance lawyer Thomas Voland, who also covers supply chain and ESG issues, are further key contacts.

Trade and distribution > Trade, distribution and logistics

Clifford Chance demonstrates particular expertise in advising companies in the life sciences sector on issues pertaining to distribution systems and supply chain structures. Led by the IT/IP expert Gunnar Sachs, the team regularly supports the digitised transition of distribution systems to modern standards and e-commerce solutions. Torsten Syrbe, who was formerly based in Moscow, assists companies with the restructuring of supply chains in the context of the consequences of the war in Ukraine. ESG expert Thomas Voland comprehensively advises on supply chains and product compliance and Dimitri Slobodenjuk is well versed in distribution antitrust law.

White-collar crime > Advice to companies Tier 1

Clifford Chance‘s white collar, regulatory & compliance practice places the traditional focus on the financial industry and advises companies and banks in need of criminal defence and representation. The team comprehensively advises on all relevant topics, including cross-border matters, and is well versed in cum-ex, cum-cum, the emissions scandal and Russia sanctions; the practice is also instructed on administrative offence proceedings and stock exchange sanction proceedings. The highly renowned Heiner Hugger heads the team and has longstanding expertise in criminal tax law as well as allegations of corruption, embezzlement and money laundering matters; David Pasewaldt also focuses on alleged corruption, violations of capital markets criminal law and tax evasion, while Julia Baedorff, who was appointed to partner in May 2023, is particularly well versed in public prosecution and internal investigations.

Banking and finance > Lending and borrowing Tier 2

Clifford Chance's expertise in acquisition and corporate financing, leveraged finance, restructuring and refinancing is regularly called upon by national and international banks, private equity investors, direct lending funds and companies. Recent instructions include matters pertaining to bridging, ESG-related and syndicated loans in connection with the infrastructure and energy sectors, here, Bettina Steinhauer is a key contact; she is well versed in acquisition financing and restructuring. Christoph Nensa recently assisted with various refinancing transactions, which constitute another core strength of the practice. The team regularly cooperates with other locations on cross-border matters.

Banking and finance > Real estate finance Tier 2

Clifford Chance is instructed by both lenders and borrowers, which benefit from the close cooperation with the real estate team as well as capacities at the intersections with banking, capital markets and tax law. The team's mainstays include cross-border financing, structured finance transactions, which are often handled by Beda Wortmann and practice head Tobias Schulten, as well as refinancing, bonds and securitisations and, increasingly, alternative financing.

Capital markets > Debt capital markets Tier 2

Clifford Chance's team of German and US lawyers advises issuers, shareholders, banks, regulators and guarantors on a variety of transactions and products, including convertible and hybrid bonds as well as EMTN and ECP programs. Its advice on the restructuring of investments in alternative investment funds through listed securities solutions for institutional investors represents a particular strength, while ESG matters also increasingly contribute to the practice's workload. Most recently, Sebastian Maerker frequently assisted with the issuing of green and sustainability-linked bonds, while Gregor Evenkamp focused on the interface of structured debt securities and fund products and subsequently advises on fund bond issues and listings; he recently handled projects for the retailization of private funds and assisted with structured product programs as well as associated regulatory requirements, among other matters.

Capital markets > Equity capital markets Tier 2

Thanks to its integrated approach, Clifford Chance seamlessly advises clients on matters touching on both ECM and DCM and further impresses with close cooperation with its private equity practice. The team acts for both issuers and underwriters across various transactions, such as dual track IPOs, SPACs and capital increases as well as private placements and hybrid bonds. George Hacket has special knowledge of US securities law, which he often applies in the context of international securities transactions, and is an ECM key contact; as is Axel Wittmann, whose range of experience includes IPOs, convertible bonds and compliance issues.

Compliance > Internal investigations Tier 2

Clifford Chance offers both preventive and forensic expertise in supporting national and international clients from the financial services, construction, real estate, manufacturing, technology and pharmaceutical sectors in allegations pertaining to money laundering, corruption as well as cum-ex and tax fraud. Co-head Peter Dieners is regularly instructed by pharmaceutical, medical device and chemical companies on all business-critical matters and jointly heads the team with Heiner Hugger, who is a renowned expert for investigations and the representation of companies and their employees. Other key contacts include Julia Baedorff (criminal law), Ines Keitel (employment law and data protection) and David Pasewaldt (compliance and criminal law).

Corporate and M&A > Corporate Tier 2

With a particularly strong foothold in the automotive, energy and technology industries as well as healthcare, Clifford Chance advises listed companies on corporate governance issues, general meetings and capital market compliance as well as in the context of IPOs and capital increases; the team's corporate expertise is also regularly called upon in cross-border transactions, joint ventures and global restructurings. Transaction specialist Thomas Krecek is frequently instructed by financial services companies and heads the practice, which also includes Christian Vogel (corporate law and cross-border transactions) and Markus Stephanblome (M&A, private equity). In May 2022, Simon Schmid, who focuses on corporate law and capital market transactions, and Dominik Heß, who is experienced in corporate, capital market, group and transformation law, made partners.

Dispute resolution > Arbitration (including international arbitration) Tier 2

Clifford Chance's international arbitration practice represents a range of companies, including in the automotive and construction sectors, in energy disputes, investor-state disputes and post-M&A matters; in this context, Moritz Keller and practice head Michael Kremer, who is also experienced in joint venture and shareholder disputes, are among the key contacts.

Dispute resolution > Commercial litigation Tier 2

With a broad sector focus that includes the automotive, technology and energy industries, Clifford Chance is dedicated to commercial, contractual, corporate and antitrust disputes, in particular cartel damages proceedings (follow-on), as well as cum-ex-related and data protection conflicts; practice heads Michael Kremer, Jan Conrady and Thomas Voland are among the key contacts for the latter area. The team also possesses deep expertise in banking and financial services disputes, with complementary skills in white collar crime and tax issues. Of counsel Uwe Hornung is a key contact for contentious corporate and transactional matters.

Dispute resolution > Financial services: litigation Tier 2

Industry focus > Energy Tier 2

Clifford Chance's energy and infrastructure practice assists energy services providers, project developers and financial investors with regulatory issues, national and international transactions as well as project developments and financing. The sector focus is on hydrogen, with similar expertise in advising on LNG, photovoltaics, solar and offshore wind projects as well as conventional energy matters. Practice head Mathias Elspaß is well versed in public law and is supported by M&A experts Anselm Raddatz and Markus Stephanblome as well as Florian Mahler; the latter is the co-head of the global projects team and a key contact for large-volume financing matters.

Public sector > Commercial administrative law Tier 2

Clifford Chance's commercial administrative expertise is especially valued by automobile manufacturers, technology and energy companies and federal ministries in matters relating to ESG and climate protection. The group particularly focuses on decarbonisation projects in the automotive industry, including advice on issues such as battery production and e-fuels use, among other matters. In addition to environmental regulatory assistance with high-profile transactions, practice head Mathias Elfreude is also involved in large public projects, including the planning of an LNG terminal. Climate litigation, nationalisation issues and product-related compliance advice for clients in the automotive sector however represent mainstays for the co-head of the European ESG Board Thomas Voland, who also advises legislators on the drafting of digitalisation and environmental regulations.

Public sector > Planning and environment Tier 2

The focus of Clifford Chance's environmental and planning law team rests on energy and climate projects as well as on ESG issues: the group thus advises on environmental regulatory requirements and approval proceedings for LNG projects, CO2 terminals and projects for the production of green hydrogen and ammonia and further assists with project financing and transaction issues in collaboration with adjacent practice groups. Energy law expert Mathias Elfreude handles various projects to reduce CO2 emissions and is also considered the key contact for network expansion projects, while Thomas Voland, who is experienced in product compliance, primarily deals with ESG issues but also acts in contentious proceedings, for example when defending clients against climate claims. Senior associate Katharina Vollmer is recommended for her advice on ESG aspects of large real estate and infrastructure projects.

Germany > Tax Tier 2

Utilising its cross-location cooperation, Clifford Chance regularly acts for domestic and foreign credit institutions, companies, institutional investors, funds and asset managers. Its advice foots on financial, transaction, real estate and corporate tax expertise as well as experience in tax disputes. Practice head Felix Mühlhäuser also focuses on these topics and frequently advises on structured financing, takeovers and corporate structuring as well as equity derivatives. Other key contacts include Dominik Engl (transactions and related financing), Stefan Behrens (investments, restructuring, transactions, fund structuring) and Olaf Mertgen (M&A and tax due diligence). Marco Simonis is the main port of call for tax issues related to investment funds and other asset management structures.

Germany > Antitrust Tier 3

Clifford Chance‘s antitrust law experts routinely represent national and international companies in antitrust, market dominance and merger control proceedings, which also corresponds with the focus of practice head Marc Besen; the team recently assisted with various damages proceedings. Other core areas include ongoing antitrust advice, antitrust disputes and internal investigations. The transaction support includes cross-border matters, where Dmitri Slobodenjuk regularly advises on investment control and foreign trade law, while senior associate Anne Filzmoser is experienced in merger control and distribution law matters. Michael Dietrich and Maximilian Zedtwitz von Arnim, both experienced in antitrust and abuse proceedings, left the team in late 2023 and now operate under the name Dietrich Dietrich Graf Zedtwitz Rechtsanwälte.

Banking and finance > Fintech Tier 3

Real estate and construction > Construction (including construction litigation) Tier 3

Clifford Chance comprehensively advises national and international clients on construction and plant construction projects, including contract drafting, project support as well as contentious matters. The team regularly assists with contract and claims management and acts in close cooperation with the real estate experts. Recent instructions pertain to the (renewable) energy sector, while the projekt work includes the advice to clients from the oil, gas, pharmaceutical and automotive sectors on contract-related matters. Michael Kremer and Jan Conrady are among the key contacts and are well versed in court and arbitration proceedings.

Insurance > Advice to insurers Tier 4

Clifford Chance supports insurers in M&A transactions, particularly in the real estate sector, and in corporate restructuring; Christian Keilich is a key contact for the latter; while Marco Simonis is regularly instructed on investment funds and asset management structures. The team is also experienced in cross-border transactions thanks to the international network; Thomas Krecek and Jörg Rhiel are among the key contacts here. Jan Grabbe focuses on accounting and tax-driven restructuring measures.

Public sector > Public procurement Tier 4

Clifford Chance's public procurement group specialises in infrastructure PPPs and healthcare projects. The practice assists contracting authorities with important tenders for construction projects and energy policy projects; due to its close cooperation with its corporate and healthcare practices, the team is also well equipped to advise pharmaceutical companies in award and review proceedings on the bidder side. Led by counsel Steffen Amelung, the team further assists with procurement aspects of a large number of M&A transactions.

Public sector > State aid Tier 4

Clifford Chance's internationally connected, Düsseldorf-based practice primarily assists with state aid compliance and is particularly often instructed by large companies in the TMT and automotive sectors seeking advice on issues relating to foreign subsidies regulation. The expertise of practice heads Thomas Voland, who focuses on constitutional and state aid regulation issues, and Joachim Schütze, who frequently advises on antitrust issues, also shows in their state aid advice on energy projects and investment projects.

Information technology > Information technology and digitalisation

Germany > Employment