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Clifford Chance

Living Wage
4 COLEMAN STREET, LONDON, EC2R 5JJ, ENGLAND
Tel:
Work 020 7006 1000
DX:
149120 Canary Wharf 3
Email:
Web:
www.cliffordchance.com

Top-tier Firm rankings

Firm Rankings


London: Corporate and commercial

Commercial contracts
Commercial contracts - ranked: tier 3

Clifford Chance

Clifford Chance provides 'detailed, yet practical, advice on contracts that involve very high levels of complexity'. 'Top-notch strategic adviser' André Duminy, who is the global head of outsourcing and commercial contracts, 'consistently impresses with his commercial judgment'. Duminy's team excels in BPO and IT/technology outsourcings, particularly in high-risk, business-critical transactions involving multiple vendors and jurisdictions. The work spans sectors such as IT, financial services (including fintech), energy, and consumer goods and retail. The group also assists clients with other highly complex agreements; in 2017, Duminy, director Richard Jones and senior associate Brian Harley acted for Capital Dynamics in the spin-off of its fund accounting business to become a supplier. Duminy was also part of a cross-office team which advised HSBC on the outsourcing by JP Morgan Funds (Asia) Limited of fund administration, transfer agency and middle office functions to the client in Hong Kong and Taiwan.  In another big-ticket mandate, Duminy is assisting Royal Dutch Shell with renegotiating global technology outsourcing contracts with multiple vendors. Other clients include 21st Century Fox, HQLAx and AB InBev. Jonathan Kewley is recommended.

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Corporate tax
Corporate tax - ranked: tier 2

Clifford Chance

The 'impressive' team at Clifford Chance is noted for its wide-ranging transactional tax practice, which spans financing, capital markets and investments, but it also has a strength in advisory and tax planning work. Alongside Dan Neidle, corporate and finance tax specialist David Harkness is currently advising major banking, natural resource, wholesale, investment fund and sports industry clients on compliance with the new corporate criminal offence of failing to prevent the facilitation of tax evasion. In another highlight, Harkness and Nicholas Mace advised McLaren Group on the tax aspects of the combination of McLaren Automotive and McLaren Technology Group and in a separate matter, assisted Co-operative Bank with restructuring its share capital and Subordinated Notes to raise £700m of equity capital. 'First-rate' Anthony Stewart is regularly instructed on matters relating to investment funds and structured investment products. Global head of the firm's Tex, Pensions and Employment department Chris Davies specialises in structured finance and international taxation. Senior associate Stuart Broadfoot is another key contact, who stands out for his ability to provide 'clear, useful advice in a timely manner'.

Leading individuals

Chris Davies - Clifford Chance

David Harkness - Clifford Chance

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EU and competition
EU and competition - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP¬†¬†provides a ‚Äėtop level of service‚Äô, and is ‚Äėalways quick to respond and gets to the nub of issues quickly‚Äô. The team advises clients across a wide range of industries including financial institutions, healthcare, life sciences, chemicals, TMT and energy. ‚ÄėFantastic‚Äô, ‚Äėvery smart‚Äô and ‚Äėvery experienced‚Äô practice head¬†Alex Nourry¬†acted for ENGIE on the sale of LNG assets to Total, advising on merger filings in the EU and other jurisdictions. The ‚Äėoutstandingly responsive, thorough and creative‚Äô¬†¬†Nelson Jung¬†has been involved with a number of the market changing merger control instructions in the past year, including Booker Group‚Äôs merger with Tesco, and client Delivery Hero‚Äôs sale of Hungry House to Just Eat. Jung and¬†Greg Olsen¬†also secured CMA clearance at Phase 1 of Mastercard‚Äôs ¬£700m acquisition of Vocalink without divestment remedies. ‚ÄėSuperstar‚Äô¬†Jenine Hulsmann¬†has longstanding expertise in the energy, infrastructure, telecoms and media sectors and has recently been assisting Tele2 Sverige with the competition aspects of its Dutch operation with T-Mobile Netherlands. Other clients of the team include CVC, EDF and Pfizer.¬†Elizabeth Sinclair¬†and¬†Laila Wood¬† are two names of note at senior associate level.

Leading individuals

Alex Nourry - Clifford Chance LLP

Greg Olsen - Clifford Chance LLP

Jenine Hulsmann - Clifford Chance LLP

Next generation lawyers

Nelson Jung - Clifford Chance LLP

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Equity capital markets
Equity capital markets - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP is well known in the market for its strength in depth, its excellent issuer- and underwriter-side strength and its propensity for handling highly complex matters. Iain Hunter had a very busy year, assisting Co-Operative Bank on a members' scheme of arrangement, a creditors' scheme of arrangement and a £700m equity capital raise. On the underwriter side, Simon Thomas acted for a syndicate of sponsors, global co-ordinators and bookrunners including Goldman Sachs International, J.P. Morgan Securities and HSBC on TI Fluid System's £407m IPO. In complex cross-border work, Adrian Cartwright and US securities expert John Connolly acted for a group of underwriters on the $880m IPO of Polyus Gold. The team's US capabilities were bolstered by the arrival of Per Chilstrom from the New York office in March 2018.

Leading individuals

Adrian Cartwright - Clifford Chance LLP

John Connolly - Clifford Chance LLP

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Financial services
Financial services (non-contentious/ regulatory) - ranked: tier 1

Clifford Chance LLP

Financial services contentious - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP benefits from an 'unparalleled depth and breadth of regulatory experts, particularly in traditional banking products, payments and custody businesses'. The team's ability to leverage its wider finance practice in London, as well as its pan-European network of offices is 'a game changer in the context of Brexit contingency planning'. The firm is heavily engaged with numerous industry associations including The Association for Financial Markets in Europe (AFME) which it partnered with to provide an extensive report assessing the legal and regulatory impact of the exit of the UK from the EU on the EU’s wholesale capital markets. Monica Sah and Chris Bates have been at the heart of much of the Brexit-related advice to the AFME, while the 'excellent' Simon Crown has provided high-level advice on the implications of Brexit to the asset management sector. Alongside Bates, Simon Gleeson is 'recognised as one of the most trusted advisers across the Square Mile and is therefore pivotal to the highest level advice provided by the firm including on Brexit contingency planning and policy level advice relating to resolution planning' . The 'outstanding' Jeremy Walter heads up the firm's relationship with the Futures Industry Association (FIA) and has been busy advising it on coordinating and drafting updated legal opinions in respect of the netting and collateral provisions contained in FIA’s industry standard documentation (both older versions and the latest 2018 terms of business) on the basis of templates prepared and provided to counsel. Caroline Meinertz 'is a rising star' and also provided vital input on much of the firm's Brexit-related work as well as on other big-ticket strategic advice impacting the banking sector. The firm’s contentious team has been at the forefront of the most significant domestic and multi-jurisdictional regulatory investigations in the industry, in addition to acting on behalf of top-level executives. The 'hugely experienced' Carlos Conceicao has an 'unmatched reputation in the field', regularly defending financial institutions in the highest-profile agency investigations in the market. Praised for his 'well-balanced approach and very sound advice', Dorian Drew has 'extensive experience in negotiating regulatory settlements'. Roger Best is also recommended.

Leading individuals

Carlos Conceicao - Clifford Chance LLP

Christopher Bates - Clifford Chance LLP

Dorian Drew - Clifford Chance LLP

Roger Best - Clifford Chance LLP

Simon Gleeson - Clifford Chance LLP

Next generation lawyers

Caroline Meinertz - Clifford Chance LLP

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M&A: upper mid-market and premium deals, £250m+
M&A: upper mid-market and premium deals, £250m+ - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP¬†'s practice, which frequently handles complex, multi-jurisdictional public M&A, provides ‚Äėa top-rate service in all respects‚Äô. Headed by Mark Poulton, the practice counts financial services, TMT, healthcare, life sciences, consumer goods and retail as key sector strengths, in addition to expertise in insurance, where clients include Legal & General.¬† A team led by¬†Lee Coney¬†and¬†Katherine Moir¬†represented Imagination Technologies Group on its recommended cash takeover by Canyon Bridge Capital Partners, valuing Imagination at ¬£550m, while Coney and¬†David Pudge¬†advised Booker Group on its merger with Tesco.¬†David Pearson¬†led the team acting for Patron Capital on its recommended ¬£1.775bn offer for Punch Taverns. The ‚Äėextremely knowledgeable, approachable‚Äô¬†Joel Ziff¬†is ‚Äėvery responsive, and provides practical, high-level advice‚Äô, and handled Sosei Group‚Äôs investment in MiNA Therapeutics alongside Coney.¬†Spencer Baylin¬†,¬†Tim Lewis¬†and global corporate head¬†Guy Norman¬†continue to be industry leaders. The ‚Äėvery experienced‚Äô¬†Steven Fox¬†is ‚Äėdiligent in setting up an appropriate deal time suitable for the particular case and in managing and co-ordinating transactions‚Äô.¬†James Bole¬†was promoted to partner level before starting a secondment with the Takeover Panel in September 2017.

Leading individuals

David Pearson - Clifford Chance LLP

Guy Norman - Clifford Chance LLP

Steven Fox - Clifford Chance LLP

Tim Lewis - Clifford Chance LLP

Next generation lawyers

Katherine Moir - Clifford Chance LLP

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Private equity: transactions
Private equity: transactions ‚Äď high-value deals - ranked: tier 1

Clifford Chance

Clifford Chance's 'hugely experienced' team 'knows at a granular level what typical market practices are, and therefore which particular anomalies might be relevant'. Noted for its 'incredible depth'¬†the firm has a market-leading reputation in big-ticket deals, where it acts for many of the largest and most active global investors and sponsors, including Blackstone, Partners Group and Cinven, among others.¬†Nigel Wellings,¬†Spencer Baylin¬†and¬†Adrian Levy¬†led a team which advised acquisition vehicles established by sovereign wealth fund China Investment Corporation on the successful ‚ā¨12.25bn bid to acquire Logicor from funds managed by Blackstone; this matter represented the largest logistics property deal in history, and the fourth largest international Chinese takeover to date. Another standout highlight saw¬†Brendan Moylan¬†and senior associate¬†Jonathan Halliwell¬†act for a consortium led by Global Infrastructure Partners on its $5bn acquisition of renewable energy assets located in jurisdictions across the Asia Pacific from Equis Energy. other key figures include¬†Jonny Myers,¬†the global head of private equity, the 'readily accessible and approachable'¬†Simon Tinkler¬†and the 'very responsive and thorough'¬†Nicholas Hughes.¬†Amy Mahon,¬†Christopher Sullivan¬†and¬†Graham Phillips¬†are also highly recommended.¬†Former partner¬†David Pearson¬†is now a consultant.¬†David Robson¬†and¬†Owen Lysak¬†were promoted to partners in 2017.

Leading individuals

Jonny Myers - Clifford Chance

Next generation lawyers

Christopher Sullivan - Clifford Chance

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VAT and indirect tax
VAT and indirect tax - ranked: tier 1

Clifford Chance

Clifford Chance's 'top-class' team advises corporates and government agencies on the spectrum of VAT and indirect tax matters, and often works alongside the firm's transactional practice on major cross-border deals. Clients include banks, financial investors (including sovereign wealth funds) and corporate enterprises. The group is led by David Saleh, known for his 'technical ability' and 'commercial objectivity', whose specialisms include real estate tax, restructurings, M&A, joint ventures and tax disputes.  Recent highlights included representing Project Blue before the Supreme Court in relation to a £50m SDLT dispute with HMRC. Clients include Canary Wharf, Legan & General, Reuters and numerous REITs. 

Leading individuals

David Saleh - Clifford Chance

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London: Crime, fraud and licensing

Fraud: civil
Fraud: civil - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP¬†is a ‚Äėgo-to firm for big ticket international fraud‚Äô and is ‚Äėa one-stop-shop for all issues arising out of large-scale fraud cases‚Äô. It has represented clients in the High Court in various asset recovery matters, interim relief and securing recoveries through trial or settlement. The firm recently defended Apax Partners against a claim brought by the joint liquidators of Hellas II in relation to an alleged undervalued refinancing transaction and placing assets beyond the reach of its creditors. Other clients include Citi, ICBC Standard Bank, Unitel and EQT. Key practitioners include Roger Best¬†and Matthew Scully¬†who has ‚Äėa very good reputation for fraud matters‚Äô and is ‚Äėunderstated but very experienced‚Äô. Jeremy Kosky¬†is also recommended.

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London: Dispute resolution

Banking litigation: investment and retail
Banking litigation: investment and retail - ranked: tier 1

Clifford Chance LLP

Able to handle a large volume of high-end litigation, Clifford Chance LLP¬†is 'a¬†first-rate banking litigation firm handling complex banking litigation on behalf of a wide range of financial institutions'. It¬†acts in some of the most high-profile banking disputes and investigations both within the UK and globally. The team‚Äôs workload spans a range of complex financial products, derivative transactions and aircraft financing as well as industry-wide issues such as Libor rate setting, Forex manipulation, the credit default swaps (CDS) market, and the Panama Papers; the firm also has in-house forensic accounting capability. Kelwin Nicholls¬†who is 'a¬†very talented, unflappable lawyer who provides superb advice on highly complex matters', Ian Moulding¬†and Helen Carty¬†co-lead the firm‚Äôs London-based banking litigation team; in a high-value case involving the duties and role of an arranger in an Islamic financing transaction, Nicholls and Michael Lyons¬†defended BNP Paribas against two parallel proceedings filed in the Commercial Court, surrounding a landmark $650m Islamic finance bond involving the Saudi conglomerate, Saad Trading, Contracting and Financial Services Company; and Carty defended Deutsche Bank (DB) against a claim for over ‚ā¨800m brought by Vestia, one of the largest Dutch housing associations, in relation to derivatives transactions it entered into with DB. Former global head of litigation Jeremy Sandelson, who is 'a superb client-handler, a highly sophisticated tactician and a delightful team leader'¬†stepped down from the role and was replaced by Matthew Newick; and¬†Christopher Yates¬†has a particular speciality in finance disputes with a cross-border element involving investments in developing economies. Other key advisers include¬† Julian Acratopulo, who is 'clever, sophisticated, charming and utterly committed to the client',¬†Simon Davis, Roger Best¬†and Jeremy Kosky¬†, together with¬†Matthew Scully¬† and¬†Roger Leese. The key senior associates are Lindsay Bickerton¬† and Kate Scott.

Leading individuals

Ian Moulding - Clifford Chance LLP

Roger Best - Clifford Chance LLP

Next generation lawyers

Kate Scott - Clifford Chance LLP

Lindsay BIkerton - Clifford Chance LLP

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Commercial litigation
Commercial litigation - ranked: tier 1

Clifford Chance LLP

According to some, Clifford Chance LLP has 'perhaps the finest commercial litigation department in the City; there is no dispute, however large and complex, that the firm does not handle superbly'. In a high-profile, high-value dispute involving litigation and investigations on both sides of the Atlantic, the team defended Autonomy founder, Dr Mike Lynch (ML), against allegations of financial impropriety and misrepresentation made by Hewlett Packard, which acquired ML's software company in 2011 for $11bn; and in a recent landmark Supreme Court decision on contractual penalty clauses, it represented Talal El Makdessi in his battle against a WPP subsidiary, which was particularly significant as it was the first time the UK Supreme Court (and its predecessor) has considered the penalties' doctrine in over 100 years. Jeremy Sandelson is 'a superb client handler, a highly sophisticated tactician, a delightful team leader, and outstanding when the possibility of losing cannot be entertained'. Philip Hill is 'the smartest litigation solicitor in the UK; he knows the best route to victory'. Maxine Mossman is 'an up-and-coming superstar of the UK’s top-end commercial litigation world'; and Julian Acratopulo 'regularly handles the biggest cases around'. Other widely respected advisers include Simon Davis, Helen Carty and Christopher Yates, along with Roger Leese, Jeremy Kosky, Kelwin Nicholls, Matthew Scully and Roger Best, while James Cranston is 'an outstanding senior associate' and Guy Burkitt is 'as good an associate as clients could want'.  Iain Roxborough left for Keystone Law.

Leading individuals

Jeremy Sandelson - Clifford Chance LLP

Julian Acratopulo - Clifford Chance LLP

Simon Davis - Clifford Chance LLP

Next generation lawyers

Chris Yates - Clifford Chance LLP

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Competition litigation
Competition litigation - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP's team draws on the firm's global presence, its wider commercial litigation and investigations expertise and specialism in financial services competition investigations to defend clients involved major UK and EU competition litigation. Practice head Elizabeth Morony is instructed on matters across industry sectors, focusing on antitrust litigation and cartel investigations. Contentious antitrust expert Luke Tolaini has significant experience in cross-border matters; he is currently leading Pfizer's appeal to the Competition Appeal Tribunal against its decision to impose an £84.2m fine for excessive pricing, in an abuse of dominance case. His other matters include representing Xelia and Alpharma LLC in pay-for-delay litigation. The group is also advising a global bank on its defence of a claim brought by the Federal Deposit Insurance Corporation against a number of banks relating to alleged manipulation and collusion of LIBOR. Matthew Scully  is another key contact, Samantha Ward was promoted to partner in May 2018 and handles litigation arising from the technology sector.

Leading individuals

Elizabeth Morony - Clifford Chance LLP

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International arbitration
International arbitration - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP recently acted in several high-value arbitrations, including under shareholder agreements, finance agreements and construction contracts. The firm also has a strong investment treaty practice, working closely with its Perth and Warsaw offices. It represented Standard Bank entities and their syndicated lenders, as claimants, in concurrent London-seated LCIA arbitration proceedings against Erdenet Mining Corporation (EMC) and Just Group, which arose out of agreements entered into for the ultimate benefit of EMC. Key figures include Audley Sheppard QC, who is the global co-head of international arbitration; Alex Panayides, who 'provides prompt and helpful advice'; Rob Lambert, who has particular expertise in the energy, infrastructure and telecoms sectors, as well as considerable experience of joint venture and shareholder disputes; and Marie Berard, who has acted as counsel and advocate in over 40 international commercial arbitration proceedings. Jessica Gladstone is also highly rated.

Leading individuals

Audley Sheppard QC - Clifford Chance LLP

Rob Lambert - Clifford Chance LLP

Next generation lawyers

Jessica Gladstone - Clifford Chance LLP

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Public international law
Public international law - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP fields experts in investment protection; international economic sanctions work and other transnational regulation; the law of international organisations; state and diplomatic immunities; business and human rights; advice on treaties; and sovereign debt. Rae Lindsay and Audley Sheppard QC co-head the public international law practice. Lindsay recently focused on international sanctions, business and human right and immunities and privileges of states, state entities and international organisations as well as territorial and maritime jurisdiction issues, interpretation of treaties, status of territories under occupation and the right of populations to self-determination; and Sheppard is highly rated for his representation of clients in investment treaty proceedings against states. Jessica Gladstone is another highly rated contact who has taken a primary role in the firm's Brexit practice, advising various financial institutions and trade associations on the trade law issues and WTO scenarios for industry post-Brexit. Other notable advisers are Michael Lyons and consultants Federico Ortino and Andrew Dickinson.

Leading individuals

Rae Lindsay - Clifford Chance LLP

Next generation lawyers

Jessica Gladstone - Clifford Chance LLP

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Tax litigation and investigations
Tax litigation and investigations - ranked: tier 3

Clifford Chance

Clifford Chance's strengths lie in its VAT and indirect tax litigation capabilities, led on by expert in the field, David Saleh. The group, benefiting from the firm's global presence, predominantly represents multinationals with complex tax requirements. Contentious real estate tax specialist Simon Corzberg is another key name.

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 1

Clifford Chance LLP

Benefiting from deeply entrenched ties with many banks and private equity sponsors, including Citigroup, HSBC and CVC, and also able to leverage the firm's extensive international network of offices,¬†Clifford Chance LLP¬†is appreciated by clients for its 'excellent service on complex cross-border financings'. The 'experienced and well-respected'¬†Jim MacHale¬†is well-versed at handling both leveraged and investment grade acquisition financings; he recently advised the lead arrangers, including Deutsche Bank and HSBC, on the jumbo $20bn facilities and ¬£1m revolving credit facility, for Reckitt Benckiser on its acquisition of¬†Mead Johnson Nutrition.¬†James Butters has a strong reputation among both lenders and borrowers in cross-border leveraged finance transactions; he recently acted for the mandated lead arrangers, including HSBC and UBS, on the cov-lite financing to facilitate L1Retail's ¬£1.8bn acquisition of Holland & Barrett. The 'vastly experienced'¬†Charles Cochrane¬†recently advised the mandated lead arrangers in relation to the jumbo M&A financing relating to Fortum's ‚ā¨8bn bid for Uniper.¬†On the borrower side,¬†Taner Hassan¬†has strong ties with numerous private equity sponsors and is therefore a regular presence on some significant leveraged finance mandates in the market. Other recommended practitioners include the¬†'technically strong'¬†Emma Folds,¬†Michael Bates,¬†Andrew Husdan¬†and¬†Peter Dahlen.

Leading individuals

Charles Cochrane - Clifford Chance LLP

Taner Hassan - Clifford Chance LLP

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Asset finance and leasing
Asset finance and leasing - ranked: tier 1

Clifford Chance LLP

Able to tap into a vast global network of offices and also benefiting from good contacts in jurisdictions where it does not have offices, Clifford Chance LLP is a popular choice for a wide range of clients including lessors, banks, funds, export credit agencies, manufacturers and operators on complex multi-jurisdictional mandates across the range of transportation asset classes. Nevertheless, the team is best-known for its track record in the aviation sector where it is able to effectively leverage the complementary expertise of the firm's leading finance, tax and capital markets prowess in particular to provide an 'excellent service' on many of the 'largest and most complex deals in the sector'. 'No-nonsense' global team head William Glaister has 'vast knowledge' of the aviation sector and recently advised BNP Paribas on the $820m debt facility for Vermillion on the financing/refinancing of a portfolio of up to 23 aircraft. As well as leading on many of the firm's biggest-ticket rail projects, Paul Carrington is also a pivotal presence on numerous major aviation finance mandates including his recent work for SMBC Aviation Capital on the $560m sale of a portfolio of 20 aircraft to Aircastle Advisor (International), on lease to 13 different airlines. The 'excellent' Oliver Hipperson primarily handles financing work in the aviation and shipping sectors. Ranbir Hunjan is also recommended.

Leading individuals

William Glaister - Clifford Chance LLP

Next generation lawyers

Oliver Hipperson - Clifford Chance LLP

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Bank lending: investment grade debt and syndicated loans
Bank lending: investment grade debt and syndicated loans - ranked: tier 1

Clifford Chance LLP

With a 'top-notch roster of partners' at its disposal, as well as being able to utilise 'high-quality junior resources', Clifford Chance LLP provides an 'excellent level of service' to an impressive list of banking clients including Deutsche Bank, Lloyds and Bank of America Merrill Lynch, across the spectrum of financing work including on general corporate lending matters and complex cross-border M&A financings, as well as on more esoteric structures relating to Islamic finance and margin finance. The 'vastly experienced and well respected' Jim MacHale recently advised the lead arrangers on the $20bn acquisition facilities and £1bn revolving credit facilities for Reckitt Benckiser Group plc on its $17.9bn acquisition of Mead Johnson. Newly promoted partner David Robson was also involved in the aforementioned transaction and has quickly garnered a strong reputation among lenders for corporate event driven and investment grade financings where he 'brings an air of calm to even the most complex negotiations'. Nicola Wherity has an established reputation among banks for high-value investment grade financings and recently represented Citibank as co-ordinating bank and facility agent on a short-term multi-currency revolving credit facility for Nestlé. On the borrower side, Michael Bates advised Informa plc on the financing arrangements to facilitate its £3.9bn acquisition of UBM plc. Other recommended practitioners include Emma Folds, Charles Cochrane, James Boswell, Peter Dahlen, Matthew Dunn and James Butters.

Leading individuals

Jim MacHale - Clifford Chance LLP

Michael Bates - Clifford Chance LLP

Nicola Wherity - Clifford Chance LLP

Next generation lawyers

David Robson - Clifford Chance LLP

Matthew Dunn - Clifford Chance LLP

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Commodities: derivatives
Commodities: derivatives - ranked: tier 3

Clifford Chance LLP

The derivatives practice at Clifford Chance LLP is part of a banking group that is seen as one of the leaders in hedging and structured finance matters. Derivatives specialists Habib Motani, Matthew Grigg and Paget Dare Bryan all have significant expertise in the sector and frequently advise on physically and financially settled derivatives contracts in OTC, securitised and exchange-traded form, as well as other commodity-linked instruments in Islamic finance and carbon-linked bonds. Emerging markets experts Leonard Cleland, who advised Société Générale as documentation agent on a $240m pre-export financing facility for members of the Metalloinvest Group secured over coking coal and pig iron export contracts, and Logan Wright play key roles in the practice. Oil and gas specialist Russell Wells frequently advises trading house Glencore on derivatives as part of structured and trade finance deals, which last year included a $1.2bn secured borrowing base facility relating to global metals inventories.

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Corporate restructuring and insolvency
Corporate restructuring and insolvency - ranked: tier 1

Clifford Chance LLP

'Among the very best in the market', the 'very strong' five-partner team at¬†Clifford Chance LLP¬†has an¬†'enormous depth of resource in which to deliver first-class legal advice'¬†to a broad array of stakeholders including banks, funds, corporates and IPs. The 'technically strong and user-friendly'¬†Philip Hertz¬†has developed a strong reputation for handling Spanish restructurings including his work in relation to Abengoa as well as recently for a group of key lenders (including HSBC and BNP Paribas) as creditors on the¬†‚ā¨1.6bn restructuring of the Prisa media group. On the debtor front, Hertz has been advising The Co-operative Bank plc on the complex restructuring of several tranches of outstanding bonds. The 'highly commercial'¬†John MacLennan¬†provides 'very clear' advice to creditors across a range of sectors and as well as being very active in the oil and gas sector, he has also developed a strong reputation in relation to bank resolution cases. As well as recently advising an ad-hoc committee of bondholders that formed in relation to the controversial liability management exercise by Novo Banco in connection with its sale to Lone Star, MacLennan is also acting for a bondholder group suing the Portuguese Central Bank in connection with the Novo Banco resolution. 'Able to see the bigger picture',¬†Adrian Cohen¬†is particularly noted for his¬†specialist knowledge on the insolvency laws and practice of the United Arab Emirates (UAE). Iain White¬†and¬†David Towers¬†are also recommended.

Leading individuals

Philip Hertz - Clifford Chance LLP

Next generation lawyers

David Towers - Clifford Chance LLP

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Debt capital markets
Debt capital markets - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP¬†has 'a long track record in high-value and complex deals, including new and innovative deal structures'. The group acts for leading financial institutions, corporates, governments and supranational organisations across the world. Its work encompasses¬†investment grade bonds, regulatory capital and hybrid transactions, liability management, Eurobonds and EMTN programmes, equity-linked products, sovereign debt issuance, project bonds and emerging markets debt offerings. Its work on innovative transactions continued last year with its work for a leading investment bank on the issuance of green bonds. Head of capital markets¬†Simon Sinclair¬†led that deal. He also worked with newly promoted partner¬†Paul Deakins¬†, who¬†is 'a superstar', on the securing of consent solicitations for tier 2 and tier 1 notes, and the issuance of ‚ā¨750m in new tier 1 notes, for Nordea Bank as part of its decision to redomicile from Sweden to Finland. Sinclair also assisted Co-operative Bank with numerous offerings in 2017, including the issuance of ¬£400m in senior notes.¬†Newly promoted partner¬†Clare Burgess¬†is an expert in project bonds and she advised two leading Danish pension funds on the acquisition of a 50% stake in the¬†developer of the Walney Extension Offshore Wind Farm, which was financed using a combination of bonds, equity and loans. The firm has a deep bench of experienced partners such as¬†Stewart Dunlop¬†, who is a leading light in liability management;¬†John Connolly, who leads the firm's US group and handles¬†Rule 144A offerings, private placements and Regulation S deals; London managing partner¬†David Bickerton, who handles infrastructure and project finance capital markets; and¬†David Dunnigan¬†who advises sovereigns, major corporations and financial institutions.

Leading individuals

David Bickerton - Clifford Chance LLP

David Dunnigan - Clifford Chance LLP

John Connolly - Clifford Chance LLP

Paul Deakins - Clifford Chance LLP

Simon Sinclair - Clifford Chance LLP

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Derivatives and structured products
Derivatives and structured products - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP is 'a very strong firm that provides first-rate advice and has a team that is great to work with'. One client remarks that 'its knowledge of loan on loan transactions and public markets work is second-to-none and its work on repack programmes is fantastic'. The practice advises on all types of transactional derivatives across asset classes including commodity, equity, credit and interest rates, as well as collateral and financing structures. The lawyers have extensive experience in the review and negotiation of ISDA master agreements and associated credit support documentation, and the firm has specialists in the documentation of repos, securities lending arrangements and structured and embedded derivative products. Its lawyers also advise leading financial institutions on structured product issuance programmes, including listings and prospectus approvals. The firm is also acting in the retail market for structured notes, warrants and certificates, funds, market access products, repackagings, OTC derivatives, proprietary indices, insurance products and structured deposits. Retail and insurance product expert Andrew Coats and Asia-Pacific specialist Paget Dare Bryan are co-heads of the London derivatives and structured products practice. Habib Motani leads the firm's global derivatives practice. Jessica Littlewood is 'a long-standing practitioner in this space who is up to speed with all regulatory developments and market practice'. 'Innovative and creative thinker' Timothy Cleary  has 'in-depth technical expertise and commercial acumen'. Last year, Anne Drakeford worked on deal-contingent foreign exchange swaps and options documentation for trades in the context of private equity acquisitions and disposals. Matthew Grigg handles structured debt and derivatives transactions, including synthetic CDOs, synthetic securitisations, repackagings, credit derivatives, credit-linked, equity-linked and fund-linked securities, and asset backed securities. Senior associate William Winterton is also recommended for work on counterparty risk management, collateral and clearing issues for both sell- and buy-side clients.

Leading individuals

Andrew Coats - Clifford Chance LLP

Habib Motani - Clifford Chance LLP

Jessica Littlewood - Clifford Chance LLP

Paget Dare Bryan - Clifford Chance LLP

Next generation lawyers

Timothy Cleary - Clifford Chance LLP

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Emerging markets
Emerging markets - ranked: tier 1

Clifford Chance LLP

The finance practice at Clifford Chance LLP brings together expertise in banking, capital markets, project finance, commodity and trade finance, structured finance, securitisation and derivatives to advise corporates and financial institutions on complex emerging markets transactions. The firm has a significant presence in deals involving Africa, India and Latin America, and its London practice works closely with the Moscow office on deals in Russia, the CIS and the CEE. Last year, its debt capital markets work included acting for joint lead managers and bookrunners Citigroup Global Markets and Raiffeisen Bank International in combined issuance of $1.4bn in notes. DCM specialists David Dunnigan and John Connolly led that transaction. They also acted for Alfa Capital Markets, Bank GPB International, JPMorgan Securities and other lead managers on an $800m Eurobond issue by Polyus Gold International, which is the largest gold mining group in Russia. The firm's high yield debt practice, which features leading lights Michael Dakin and Fabio Diminich, is also active in emerging markets. Diminich recently advised a leading bank on its role as placement agent for a privately placed bond offered by a company in Eastern Europe, and acted for a Nigerian corporate on its debut Rule 144a offering. Leonard Cleland leads the trade finance team and last year he handled high-value transactions in Angola and Ethiopia. He frequently works as part of the firm's Africa and Turkey practice groups. Head of the firm's Africa practice Jeremy Connick is recommended for energy, natural resources and infrastructure projects. Also recommended are banking and finance partner Russell Wells, who works in the India team, and director of the global Africa group Titus Edjua.

Leading individuals

Jeremy Connick - Clifford Chance LLP

Leonard Cleland - Clifford Chance LLP

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High yield
High yield - ranked: tier 2

Clifford Chance LLP

At Clifford Chance LLP the high yield lawyers are 'very focused on the deals they execute, devoting appropriate resources and ensuring excellent service for their clients'. The two-partner handles high-quality and innovative deals in Europe, as well as some New York law Rule 144a and Regulation S issuances. The practice has a strong private equity focus and frequently acts for sponsors such as CVC Capital Partners and Cinven. Global head of high yield Michael Dakin is 'well organised, creative and focused on delivering excellent service'. He recently advised private equity sponsors on a large, sterling-denominated bond issue as part of a corporate acquisition. He also acted for EQT and McLaren Group on high-value deals last year. High yield specialist Fabio Diminich is co-head of the London practice. Among his clients for recent transactions are Macquarie, CVC and Deutsche Bank. The partners have excellent support from counsels Andrew Kelly and Claudia Kim.

Leading individuals

Fabio Diminich - Clifford Chance LLP

Michael Dakin - Clifford Chance LLP

Next generation lawyers

Andrew Kelly - Clifford Chance LLP

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Islamic finance
Islamic finance - ranked: tier 2

Clifford Chance LLP

The team at Clifford Chance LLP covers a broad range of disciplines within the Islamic finance market, with the global practice specialising principally in the banking, capital markets, and derivatives sectors. The firm's client base principally consists of Islamic and international banks, central banks, corporates and government agencies. Sovereign debt expert Leonard Cleland and derivatives specialist Habib Motani are the key contacts in the London office, bringing experience in both sovereign and corporate sukuk as well as murabaha, wa'ad, salam and arbun structures. Dubai-based Qudeer Latif heads the firm’s global Islamic finance practice.

Leading individuals

Habib Motani - Clifford Chance LLP

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Securitisation
Securitisation - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP¬†is 'a very strong firm, with a first-rate team that is great to work with'. The firm is consistently at the forefront of new developments in the marketplace; the practice acted for¬†European Investment Fund on the roll-out of the SME Initiative, which supports SME lending through the grant of guarantees and investment in SME securitisations in Spain, Malta and Bulgaria. Key figures include securitisation partner¬†Kevin Ingram, who is best known for credit card deals; infrastructure sector specialist¬†Stephen Curtis, who¬†is 'not only extremely technically strong, but also commercial'; and¬†Jessica Littlewood, whose practice encompasses¬†synthetic CDOs. She acted for Banco Santander in a ‚ā¨1bn synthetic securitisation of Spanish SME loans. Also recommended are real estate, whole business and consumer loan securitisation specialist¬†Andrew Forryan;¬†real estate finance partner¬†Emma Matebalavu, who is 'very focused on client service and runs her team very efficiently';¬†receivables financing expert¬†Simeon Radcliff; head of the China desk¬†Maggie Zhao, who is 'very detail-focused but still gets the commercial reality';¬†Christopher Walsh,¬†who handles¬†RMBS, CMBS and covered bond deals; and¬†'innovative, creative thinker'¬†Timothy Cleary, who¬†has 'in-depth technical expertise and commercial acumen; he commands respect amongst his peers'.

Leading individuals

Jessica Littlewood - Clifford Chance LLP

Kevin Ingram - Clifford Chance LLP

Stephen Curtis - Clifford Chance LLP

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Trade finance
Trade finance - ranked: tier 2

Clifford Chance LLP

The international banking and finance practice at Clifford Chance LLP includes a dedicated trade finance team that frequently handles complex structured deals. The firm has panel appointments with a large number of banks active in the trade finance market and also acts for many trade and industry associations, commodity trading companies and other corporates in transactions and regulatory matters. Its work encompasses structured trade finance, Letters of Credit, export finance, export credit deals, trading contracts and disputes. Leonard Cleland leads the practice and is much sought after for his experience in emerging markets including the CIS, eastern Europe, the Middle East and Africa. He frequently advises governments, lenders and borrowers on commodities and trade financing, and ECA-backed transactions. Logan Wright, who focuses on cross-border financings in Africa, the Middle East and Russia, advised Export Development Canada on a $100m unsecured loan to Zorlu Energi. Senior associate Ashley McDermott, who is a rising star in the banking and finance team, also worked on that deal.

Leading individuals

Leonard Cleland - Clifford Chance LLP

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London: Human resources

Employee share schemes
Employee share schemes - ranked: tier 1

Clifford Chance LLP

Sonia Gilbert leads the 'always impressive' department at Clifford Chance LLP, which is 'technically strong, incredibly capable and in Gilbert has one of the best experts in the employee share scheme world'. Clients also praise Gilbert 'for her calmness and togetherness when all hell is breaking loose' and 'level-headed and practical approach' that 'inspires great confidence'. The department advises on high-profile transactions and advisory work. Clients include Technip, which it advised on the remuneration elements of its merger with FMC Technologies; Sensata Technologies, which it assisted with its entrance into the UK market including its directors' remuneration regime; and Booker, which advised on the share option aspect of its £3.9bn merger with Tesco. Comcast, HSBC and Wells Fargo are also examples. Senior associate Becky Moore is recommended for global incentives work. Liz Pierson joined Squire Patton Boggs.

Leading individuals

Sonia Gilbert - Clifford Chance LLP

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Employment: employers and senior executives
Employment: employers and senior executives - ranked: tier 2

Clifford Chance LLP

Clients praise Clifford Chance LLP as 'one of the best in the market for transactional support work'; recent examples include advising BNP Paribas on the employment aspects of its acquisition of Strutt & Parker, assisting LV= with its joint venture with Allianz and acting for L&Q on its acquisition of Gallagher Estates. The team also handles employment litigation, legislative issues and investigations; it has recently advised several financial institutions on the requirements of the Gender Pay Gap Reporting regime, represented Acts and the Super-Max Group in a dispute relating to its entitlement to dismiss an executive chairman, and assisted Permira with its compliance with the Senior Managers and Certification Regime (SMCR). The 'experienced and commercial' Chris Goodwill leads the department, which includes 'strong lawyer' Alistair Woodland, Mike Crossan and newly promoted partner Chinwe Odimba-Chapman.

Next generation lawyers

Chinwe Odimba-Chapman - Clifford Chance LLP

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Pensions
Pensions (non-contentious) - ranked: tier 3

Clifford Chance LLP

Clifford Chance LLP stands out for its expertise in investment and transactional issues, particularly buy-ins and buy-outs; recent examples include assisting The Co-operative Bank with dividing its pension scheme into two separate sections and advising the trustees of the Dairy Crest Group Pension Fund on the decision to change the fund's index. The team also acted for AA on changes to its DB pension scheme, handled a potential rectification action for Mitchells & Butlers, and advised the trustees of the Brimar Limited Pension Plan on the plan's entry into the PPF. Hywel Robinson leads the department, which also includes Clare Hoxey, senior associate Rebecca Trapp and newly promoted partner Sarah McAleer. Imogen Clark retired.

Next generation lawyers

Rebecca Trapp (non-contentious) - Clifford Chance LLP

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London: Insurance

Insurance litigation: for policyholders
Insurance litigation: for policyholders - ranked: tier 1

Clifford Chance LLP

The team at Clifford Chance LLP¬†advises banks, major corporates and private equity firms on large, complex matters, frequently with a cross-border element; it has recently handled cases in the areas of D&O, warranty and indemnity (W&I), credit, political risk and professional indemnity insurance. The team also advises major clients on the drafting of insurance policies. With the chair of the City of London Law Society Insurance Law Committee, Philip Hill, as practice head, ‚Äėnothing is done without careful thought, in a good way‚Äô. Twenty-five years' experience representing insureds in disputes has earned Hill a reputation as ‚Äėone of the most brilliant solicitors working in London, a true superstar‚Äô. Insurance regulatory expert Dorian Drew, authority on reinsurance law Terry O‚ÄôNeill¬†and experienced litigator Christopher Ingham¬†are also members of the¬†formidable team of experts.

Leading individuals

Philip Hill - Clifford Chance LLP

Next generation lawyers

Christopher Ingham - Clifford Chance LLP

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Insurance: corporate and regulatory
Insurance: corporate and regulatory - ranked: tier 1

Clifford Chance LLP

The¬†'first-class‚Äô Clifford Chance LLP¬†can boast an ‚Äėutterly rock-solid understanding of the sector‚Äô. It provides a full service offering, with ‚Äėa genuine market leader‚Äô in Katherine Coates, who heads the team, as well as an ‚Äėincredible depth and range of knowledge‚Äô across the firm. This is evidenced by¬†Ashley Prebble's advice on the LV= joint venture with Allianz, which will create the UK‚Äôs third largest personal insurer with an annual premium income of over ¬£1.7bn. In addition, the ‚Äėpragmatic‚Äô Narind Singh¬†-¬†who is described as ‚Äėgold dust‚Äô by clients - handles insurance regulatory advisory work combined with the skill set of an M&A lawyer, as seen in his work for Deutsche Bank on the process of seeking credit protection insurance for a repackaged book of debt through the use of an SPV mechanism. The team also advised specialist Lloyd‚Äôs (re)insurer Neon on its successful application to undertake an insurance-linked securities (ILS) transaction in the UK, the first of its kind under the UK‚Äôs new ILS framework.

Leading individuals

Katherine Coates - Clifford Chance LLP

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London: Investment fund formation and management

Private funds
Private funds - ranked: tier 3

Clifford Chance LLP

Clifford Chance LLP¬† is 'very efficient - it is well-attuned to the way clients operate and the issues that concern them'. The firm handles a mix of funds matters, with a notable emphasis on emerging markets and infrastructure. Gerard Saviola¬†advised Stirling Square Capital on forming its fourth fund, which held its first close at ‚ā¨600m,¬† and also assisted Apis Partners with forming Apis Growth Fund II, which raised $400m to make financial services investments in Asia and Africa.¬† In infrastructure, Nigel Hatfield¬†advised Deutsche Alternative Asset Management on forming a ‚ā¨2.5bn pan-European infrastructure fund and assisted Infracapital with forming a ¬£1.25bn greenfield fund. Alexandra Davidson¬†'provides hands-on, no-nonsense service - she is also experienced, knowledgeable¬†and commercially astute'; she¬†advised Epiris on forming its second fund, which has a target of ¬£1bn. In secondaries, Hatfield advised HSBC on the sale of a range of LP stakes to Coller Capital for $230m.¬†Other clients include Octopus Investments, which Hatfield advised on a ¬£300m fund-of-one for a British pension investor investing in renewables assets.

Leading individuals

Nigel Hatfield - Clifford Chance LLP

Next generation lawyers

Alexandra Davidson - Clifford Chance LLP

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Real estate funds
Real estate funds - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP 's investment fund practice handles work concerning large private equity real estate funds, including real estate debt funds. Gerard Saviola, in addition to advising M&G Investment Management, advised ICG-Longbow on forming two real estate debt funds - he advised ICG-Longbow on forming ICG-Longbow Senior Programme Vintage IV, which raised £400m, and ICG-Longbow UK Real Estate Debt Investments V, which raised £1bn. Nigel Hatfield, who also handles billion-pound fundraising exercises, advised AEW Europe on forming a value-add fund.

Leading individuals

Nigel Hatfield - Clifford Chance LLP

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London: Private client

Contentious trusts and probate
Contentious trusts and probate - ranked: tier 1

Clifford Chance LLP

The ‚Äėsophisticated team ‚Äėat Clifford Chance LLP¬† is a ‚Äėmajor force in this field. It is a first ‚Äėport of call‚Äô for many international clients‚Äô. Key figures include the ‚Äėabsolutely first-class‚Äô Jeremy Kosky,¬†who is ‚Äėvery bright and combines technical expertise with commercial judgement‚Äô. Maxine Mossman¬†‚Äėworks phenomenally hard and combines a complete understanding of the subject matter with fantastic client handling skills‚Äô. They are ‚Äėassisted by a pretty formidable posse of associates‚Äô including the ‚Äėendlessly energetic‚Äô¬† Nicola Buncher. Buncher has ‚Äėmeticulous attention to detail, excellent judgement, fighting spirit and coolness in the face of adversity‚Äô. Robert Stewart¬†, also a senior associate, is ‚Äėfast becoming one of the leading associates in the field and is certainly one to watch for the future‚Äô. The ‚Äėhighly regarded‚Äô team handles claims relating to private banking and trusts whether acting for high-net-worth individuals or institutional clients. It is skilled at acting in heavyweight claims relating to family trusts, inheritance and divorce claims as well as shareholders disputes in family companies. An impressive roster of clients includes Coutts, Affinity Private Wealth and Heini Thyssen.

Leading individuals

Jeremy Kosky - Clifford Chance LLP

Maxine Mossman - Clifford Chance LLP

Next generation lawyers

Nicola Buncher - Clifford Chance LLP

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London: Projects, energy and natural resources

Infrastructure (including PFI and PPP)
Infrastructure (including PFI and PPP) - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP 's Amy Mahon is highly recommended by clients and recently acted for funds managed by JP Morgan and APG in the disposal of 51% interest in Noatum Ports' container business to COSCO Shipping Ports. Brendan Moylan oversaw the acquisition of a majority shareholding in four regulated gas distribution networks by a consortium of household name bidders, while a group including Michael Pearson and Clare Burgess oversaw a number of PPP projects in the waste management, transport, defence and healthcare sectors. Also notable is Michael Bates who guided the sponsor of a ferry operating company through its restructuring, and James Boswell who represented a major UK airport through its refinancing by way of bank facilities private note placements. On the capital markets front, clients can rely on Stephen Curtis who specialises in structured debt financings in the infrastructure and regulated utilities space.

Leading individuals

Brendan Moylan - Clifford Chance LLP

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Mining and minerals
Mining and minerals - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP 's 'very professional, very presentable' mining team is 'reachable around the clock'. The London team recently collaborated with its Shanghai, Hong Kong, Paris, Singapore and Australia colleagues to assist longstanding client Eramet with the sale of 57% stake in one of its subsidiaries to Tsingshan, and Adrian Cartwright and John Connolly acted for the underwriters in connection with the IPO of Polyus Gold alongside the Moscow office. James Pay - who jointly leads the practice with David Lewis - oversaw all aspects of the multi-billion dollar development and financing of a bauxite mining and alumina processing plant project in Africa. Recent contentious highlights include representing a major global mining group in an investigation by the FCA pertaining to the acquisition and subsequent impairment of a competitor leading to allegations of breach of disclosure obligations.

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Oil and gas
Oil and gas - ranked: tier 1

Clifford Chance LLP

Alex Panayides , Graham Phillips and Ashvin Seetulsingh jointly head Clifford Chance LLP 's global oil and gas offering which recently handled Engie's $2bn sale of its portfolio of upstream LNG assets to Total, and assisted Shell with the disposal of a portfolio of North Sea interests and associated infrastructure to Chrysoar for $3.8bn. Russell Wells collaborated with a cross-office team to advise lenders on the development of a major cross-border gas pipeline project, and Brendan Moylan acted for a consortium of heavyweight investors in its agreement with a utilities company to acquire a 61% shareholding in its regulated gas distribution networks. The team also intervenes in contentious matters such as Audley Sheppard and Roger Best 's representation of a Middle Eastern state-owned investment company in an LCIA arbitration concerning contractual claims against an Asian sovereign wealth fund. Other key clients include Kerogen, Statoil and Petrofac.

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Power (including electricity and renewables)
Power (including electricity and renewables) - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP is 'excellent across the board' and 'provides an outstanding service on all accounts' through 'responsive, commercial and pragmatic solutions', according to one client. Brendan Moylan recently acted for a consortium in the purchase of renewable assets across a range of jurisdictions from a multinational developer and operator, and corporate partner David Lewis collaborated with finance to handle the auction share sale of an onshore wind farm in the UK on behalf of an American owner and operator. Clare Burgess oversaw the capital markets aspects of the sale of material assets in two separate offshore wind projects on behalf of the bidders, while James Pay and David Metzger oversaw the projects and construction issues respectively. Internationally, Jeremy Connick guided a number of clients through the financing of several large-scale projects in Africa. Finance expert Ashvin Seetulsingh comes heavily recommended by clients and is also a key contact alongside Nicholas Hughes and Nigel Wellings .

Leading individuals

James Pay - Clifford Chance LLP

Jeremy Connick - Clifford Chance LLP

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London: Real estate

Commercial property
Commercial property: corporate occupiers - ranked: tier 1

Clifford Chance

Commercial property: development - ranked: tier 1

Clifford Chance

Commercial property: hotels and leisure - ranked: tier 3

Clifford Chance

Commercial property: investment - ranked: tier 1

Clifford Chance

In the eyes of some clients, Clifford Chance‚Äôs ‚Äėindustry knowledge across the board is second to none and the strength in depth in the real estate team is truly outstanding‚Äô. Equally adept at investment and development work, the practice has formidable experience with various investment structures and forming joint venture development partnerships. Perhaps the team‚Äôs flagship matter of 2017, Adrian Levy, Catherine Cook¬†and Alis Pay¬†(‚Äėan exceptionally talented and versatile lawyer‚Äô) helped lead a large cross-border team that advised acquisition vehicles established by China Investment Corporation on the ‚ā¨12.3bn acquisition of Logicor, which was the largest logistics property deal to date, and the second largest European real estate transaction ever. Franc Pe√Īa¬†assisted Gulf-based multi-family investment office Tilad on the purchase of an 83,000 ft2 site in Hammersmith, which marked the client‚Äôs first UK acquisition. The team also counselled Amadeus on the pre-let of its head office to be located at Heathrow, and advised the State Oil Fund of the Republic of Azerbaijan on an agreement to surrender HSBC‚Äôs underlease of a Westminster property. Mark Payne¬†has been involved in major development projects in the logistics and office sectors, and continues to advise Battersea Power Station Land Company on its eight-phase, 39-acre redevelopment project of the Battersea Power Station. Jonathan Solomon‚Äôs ‚Äėcalm and measured approach sets the tone for productive meetings and negotiations‚Äô, while Angela Kearns¬†‚Äėexhibits impressive industry knowledge and is an invaluable adviser‚Äô in large development projects. Indeed, Kearns is acting for The Hong Kong and Shanghai Hotels in relation to the Peninsula London luxury hotel development adjacent to Buckingham Palace. Jane Cheong Tung Sing¬†is also recommended. Matt Taylor¬†and Ian Painter¬†were made partners.

Leading individuals

Adrian Levy - Clifford Chance

Jonathan Solomon - Clifford Chance

Mark Payne - Clifford Chance

Next generation lawyers

Ian Painter - Clifford Chance

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Construction
Construction (contentious) - ranked: tier 2

Clifford Chance LLP

Contruction (non-contentious) - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP¬†works within ‚Äėthe tightest deadlines, whilst providing top-class advice on very complex issues‚Äô. Alex Panayides¬†leads the contentious team, and is representing an international oil company in connection with an equity redetermination of two hydrocarbons blocks offshore Nigeria, valuing US$2bn, as well as an international oil company in an ICC arbitration in connection with one of the largest oil fields in the Middle East. David Metzger¬†heads the transactional side and recently advised¬†on all construction aspects of the ¬£9bn Battersea Power Station development; and PFA and PKA on their acquisition of a 50% interest in the 659MW Walney Extension offshore wind project, worth approximately ¬£2 billion. Marianne Toghill¬†is ‚Äėan absolute expert: calm during negotiations, very knowledgeable about the UK development market and ready to assist on new and complicated matters.‚Äô Senior associate Edward Bretherton¬†offers ‚Äėvery good expertise‚Äô, and senior associate Irina Steinberg¬†comes highly recommended. Tim Steadman¬†has relocated to the Abu Dhabi office.

Next generation lawyers

Edward Bretherton - Clifford Chance LLP

Irina Steinberg - Clifford Chance LLP

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Environment
Environment - ranked: tier 1

Clifford Chance LLP

Nigel Howorth¬†heads the team at Clifford Chance LLP, advising regularly on standalone environmental issues such as REACH, emissions trading, landfill regulations and contaminated land and waste regulation. Howorth increasingly advises on international environmental law including oil pollution, nuclear and trans-boundary environmental impacts and Equator Principles. Michael Coxall¬†also has significant experience advising clients on the REACH regime, GHG reporting and Energy Auditing regime. James Shepherd¬†has particular expertise on the financial incentives regimes applicable to renewable and other low carbon forms of energy and heat generation. Recent work includes advising on the acquisition of stake in the 1500MW extension of Walney, the largest wind farm in the world, from √ėrsted, as well as the bond financing a complex issues relating to renewable energy incentives. The team also advised Pfizer on a range of regulatory matters. advised a global bank on environmental regulation of the water industry in Wales, and acted for a national government on a proposed guarantee to cover nuclear convention liability.

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Planning
Planning - ranked: tier 3

Clifford Chance LLP 

Clifford Chance LLP¬†¬†attracts praise for providing¬†‚Äėfocused and pragmatic advice‚Äô. The team, which is particularly strong on the developer side, is headed by¬†Nigel Howorth, ‚Äėa very astute operator with bags of planning experience and a very keen sense of the commercial realities of a development project'.¬†Recent work includes advising Canary Wharf Group on the landmark North Quay development, a mixed-use scheme involving a number of office buildings and residential towers on a 7.3 acre site. The team also advised Helical on the development of Barts Square, a new mixed-use quarter in the City of London behind the St. Barts Hospital, consisting of new offices, 215 residential units, realignment of highway infrastructure and a newly pedestrianised square. Highly recommended senior associate Elizabeth Hardacre¬†is ‚Äėhardworking and very client focused‚Äô, and associate Katie Kempthorne¬†is ‚Äėa superstar‚Äô.

Next generation lawyers

Elizabeth Hardacre - Clifford Chance LLP 

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Property finance
Property finance - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP¬†fields 'the premier property finance team in Europe', and provides a 'Rolls-Royce' service to clients regarding major investment and development financings, cross-border deals, and loan portfolio sales and restructurings, among other matters. Team head¬†Andrew Carnegie,¬†who is praised for his 'vision, deep technical skills, stamina, commitment and innate commercial ¬†understanding of deals', and¬†Barry O‚ÄôShea¬†advised CIC on its¬†‚ā¨12.25bn acquisition of pan-European logistics company Logicor, and, on the lender side,¬†Jane Cheong Tung Sing¬†assisted HSBC, ING and Bank of China (Hong Kong) with a ¬£622m loan relating to the 'Cheesegrater' building.¬†Emma Matebalavu,¬†Alistair McGillivray, consultant¬†Damian Perry¬†and senior associate¬†Claire Fawcett¬†are also noted members of the team.¬†Zak Ikponmwosa¬†moved to¬†Addleshaw Goddard¬†in April 2018.

Leading individuals

Andrew Carnegie - Clifford Chance LLP

Barry O'Shea - Clifford Chance LLP

Jane Cheong Tung Sing - Clifford Chance LLP

Next generation lawyers

Claire Fawcett - Clifford Chance LLP

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Property litigation
Property litigation - ranked: tier 3

Clifford Chance LLP

The ‚Äėexcellent‚Äô team at¬†Clifford Chance LLP¬†‚Äėshows a real understanding of the subject matter‚Äô and advises clients with ‚Äėclear strategic views‚Äô. Ben Hatton¬†leads the team and is ‚Äėcapable of handling the biggest disputes‚Äô with¬†‚Äėgood experience for all types of property work‚Äô. The team ‚Äėacts for some big players in the property market‚Äô and attracts ‚Äėextremely interesting cases, many of which are very high-value‚Äô. Areas of expertise for the firm includes professional negligence, rights of light work, rent reviews and property-related insolvency. The team recently acted for Saxon Land BV on rights of lights issues relating to a high-value redevelopment. In another highlight, Hatton and the ‚Äėstrong and strategic‚Äô Adam Eagle¬†have been acting for Horizon Nuclear Power to prevent squatters and trespassers at the client‚Äôs power stations. Senior associate Jane O‚ÄôLeary¬†is recommended for insolvency-related disputes. Iain Roxborough retired.

Leading individuals

Ben Hatton - Clifford Chance LLP

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Social housing: finance
Social housing: finance - ranked: tier 3

Clifford Chance LLP

Clifford Chance LLP acts primarily for high-street lenders in a variety of bank lending transactions, property charging, debt capital markets deals and restructuring mandates. The team including Angela Shepherd advised HSBC Bank and Lloyds Bank, as arrangers, on the establishment of a £3bn Secured EMTN Programme for Clarion Group. Practice head Alistair McGillivray acted for Barclays Bank in relation to the amendment and restatement of a facility agreement between Amicus Horizon Group, it’s original lenders and Barclays Bank as arranger and facility agent. The department also has experience advising housing associations such as L&Q, which the team assisted with a group refinancing arising from the client’s acquisition of Gallagher Estates. Additional contacts include Paul Deakins and Bruce Kahl, who have experience with debt capital markets transactions.

Leading individuals

Angela Shepherd - Clifford Chance LLP

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London: Risk advisory

Brexit
Brexit - ranked: tier 1

Clifford Chance

Clifford Chance is at the forefront of the advice to a broad cross-section of clients on the commercial and legal implications of Brexit. A major cornerstone of its offering is its public policy practice, which is co-chaired by Simon Gleeson in London and Brussels-based Thomas Vinje. Phillip Souta is the UK head. It is embedded across the global network - as well as legal practice areas and sector groups - and serves to anticipate and shape public policy by engaging with key policymakers and regulators. It also provides clients with informed advice on up to date policy developments to assist them with formulating and implementing their own Brexit strategies, and provides assistance with media relations, among various other services. Complementing the public policy practice is the firm's trade practice, which advises businesses and trade bodies on inbound and outbound post-Brexit trade issues, such as WTO law, GATTS, anti-subsidy and trade barrier regulations; Jessica Gladstone, consultant Federico Ortino and Paris-based of counsel Michel Petite are key individuals. The firm has a particularly strong international regulatory practice, and is notably active in the financial services sector; a team including Christopher Bates, Simon Crown Gleeson and Owen Lysak has advised ISDA on a wide range of regulatory matters, including assisting it with preparing questions for submission to the ESMA/European Commission on the EU Benchmarks Regulation. Lysak and consultant Mark Campbell are advising the Loan Market Association (LMA) on the potential regulatory consequences of Brexit for the syndicated lending industry, among other matters. Elsewhere, the run-up to the Brexit referendum saw a surge in demand from clients for advice on electoral law advice; the firm has a dedicated electoral law practice, which assists businesses and industry bodies with contentious issues (such as electoral petitions) and provides non-contentious advice on UK electoral law and associated regulation.

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Regulatory investigations and corporate crime
Regulatory investigations and corporate crime - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP advises on sanctions, bribery and benchmark manipulation matters and has a specialist in-house team of forensic accountants. The firm continues to act for Serco in relation to investigations and inquiries by the City of London Police and the Serious Fraud Office (SFO). It also is acting for the founder of Autonomy in relation to allegations of financial impropriety and misrepresentation made by Hewlett Packard in a case worth over £3bn. RBS is also a client. Key practitioners Roger Best and Luke Tolaini are recommended. Judith Seddon left the firm for Ropes & Gray LLP.

Leading individuals

Roger Best - Clifford Chance LLP

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London: TMT (technology, media and telecoms)

Fintech
Fintech - ranked: tier 2

Clifford Chance LLP

The inter-departmental practice at Clifford Chance LLP has impressive cross-border capabilities and is especially strong in DLT-related work, corporate transactions and cutting-edge regulatory matters. Derivatives expert Jeremy Walter and technology and outsourcing specialist André Duminy acted for HQLAx on the development and launch of a collateral lending app for liquidity transfers on DLT platform Corda. Duminy and Hilary Evenett advised Generali on its partnership with a technology start-up to roll out an insurance app for its key clients; Duminy and Caroline Meinertz assisted Cash Netting Services with developing a fintech solution to make inter-bank payments more efficient. Owen Lysak advised CVC Capital Partners on the financial regulatory aspects of its joint offer with Blackstone to purchase Paysafe Group for £2.96bn. On the corporate side, Gareth Camp acted for BBVA on its £85m investment in Atom Bank, and Duminy assisted Status with its investment of cryptocurrency SNT into New Vector. Senior associate Peter Chapman is frequently active in the space; he advised one major financial services company on the regulatory aspects of biometrically enabled cards. Technology expert Jonathan Kewley heads the practice. Coinbase, Credit Suisse and Disberse are among the team's client roster.

Next generation lawyers

Peter Chapman - Clifford Chance LLP

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IT and telecoms
IT and telecoms - ranked: tier 3

Clifford Chance LLP

Clifford Chance LLP's UK technology practice is led by the firm's head of global outsourcing André Duminy , and has experience handling strategic, commercial and contentious matters for IT and telecom sector clients. The team has been instructed by Royal Dutch Shell on a project for the renegotiation of global technology outsourcing contracts, worth several billion, with several suppliers. The practice has significant transactional experience in the IT sector and advised Imagination Technologies Group on its £550m recommended cash takeover of Canyon Bridge Capital Partners.  It also acted for Emirates NDB on its participation in a start-up incubator and accelerator project and Generali on its partnership with a tech start-up company in relation to rolling out an insurance app to key clients. Changes to the team include the promotion of Jonathan Kewley to partner and senior associate Chris Chapman re-joining the team from Ofcom.

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Intellectual property
Intellectual property - ranked: tier 5

Clifford Chance LLP

Clifford Chance LLP handles a range of contentious and transactional IP matters. Vanessa Marsland heads up the practice and was instructed by Imagination Technologies plc on the £550m strategic sale  of the company to Canyon Bridge Partners. The group has expertise in cross-border transactions, and advised Mondelez on its $460m sale of its grocery business in Australia and New Zealand, as well as selling the worldwide rights to Vegemite. This complex divestment included  several IP rights under licence from Kraft Heinz. In another work highlight, Stephen Reese led a team which acted for Astex Therapeutics in a drug discovery dispute against AstraZeneca, relating to an Alzheimer’s therapy.

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Sport
Sport - ranked: tier 4

Clifford Chance LLP

Noted as 'a go-to practice for particularly heavy sports litigation, involving complex analysis of extensive evidence', the team at Clifford Chance LLP has excellent multi-jurisdictional capabilities. Carlos Conceicao's 'expertise in running global investigations and leading complex disputes is a formidable asset to sports law clients'; he represented one high-profile client in an anti-doping case. 'Very commercial up-and-comer' and group head Christopher Yates is 'a fine tactician' and 'good with clients'; he 'knows the football industry backwards'. 'Excellent senior associate' James Cranston  is 'brainy, hardworking', 'always in command of the detail' and 'a joy to work with'. Yates and Cranston advised VB Football Assets and Baltic International Bank in a claim against Blackpool Football Club Properties, the majority shareholder of Blackpool FC, regarding the non-payment of income due under an investment agreement. In cross-border commercial work, 21st Century Fox instructed Daniel Sandelson on its media rights deal with the West African Football Union, and on the two parties' partnership to develop a football tournament. The practice's other clients include McLaren Group, Arsenal FC and World Rugby,

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London: Transport

Rail
Rail - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP‚Äôs multi-disciplinary practice is noted for its ‚Äėdeep‚Äô experience in rail sector mandates. It regularly handles high-profile rail projects and acts for rail infrastructure bodies, rail sector financiers, manufacturers and rail operators; TfL, Network Rail, Rock Rail, RBS, SMBC, CDPQ and Hermes Infrastructure are clients. Infrastructure partner Michael Pearson; EU and UK competition law specialist Nelson Jung; consultant Gavin Teague; Ranbir Hunjan, who specialises in asset finance, leasing and banking; corporate partner Amy Mahon; antitrust practice head Alex Nourry; and senior associate Dominic Watts¬†are key figures. Paul Carrington¬†heads the rail group.

Next generation lawyers

Dominic Watts - Clifford Chance LLP

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