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Clifford Chance

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 5

Clifford Chance

Clifford Chance’s practice, which is led by André Duminy and Joachim Fleury, covers large-scale, cross-border IT outsourcing transactions and BPOs (primarily on the buyer side, although the firm also undertakes a number of mandates for suppliers). In addition to handling standalone transactions, the team also advises on commercial technology matters within the context of M&A, including integration and separation, transitional service arrangements and IT customer and supplier contracts. Daniel Sandelson is particularly active in technology transactions in the media sector. Jonathan Kewley, who recently made partner, is also recommended. Key clients include Citibank, Prudential, Phillip Morris and ICAP.

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Corporate tax
Corporate tax - ranked: tier 2

Clifford Chance

Well-engaged and very highly regarded’ in the area, Clifford Chance handles the tax aspects of a wide range of financing, capital markets and investment transactions, and has been especially active on the advisory front in 2016-2017. The group is ‘very responsive to new announcements and proposals’ in the market, as evidenced by its active Brexit-related global structuring and supranational taxation advice practice. Department head Chris Davies is acting for AIG in relation to Project Bloodhound, which has involved a structured transaction accommodated to three separate tax jurisdictions, whereby the client will acquire a significant loan portfolio backed by UK commercial property. In 2016, Nicholas Mace assisted Sainsbury’s with the tax aspects of a unique structure in relation to the client’s £1.4bn takeover of Home Retail Group, which combined the establishment of a new holding company, a court-approved scheme of arrangement, a capital return and a takeover into a single process. Anthony Stewart provides ongoing advice to Investec Bank regarding its range of structured products, while David Harkness is instructed by clients such as ICAP and Deutsche Bank. Dan Neidle is also highly recommended.

Leading individuals

Chris Davies - Clifford Chance

David Harkness - Clifford Chance

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EU and competition
EU and competition - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP’s ‘extremely knowledgeable’ and ‘technically proficient’ team comprises ‘good tactical and strategic thinkers’ and advises clients across a wide range of industries including financial institutions, healthcare, life sciences, chemicals, TMT, and energy. ‘Fantastic’, ‘very smart’ and ‘very experienced’ practice head Alex Nourry is praised for his ‘pragmatic, business-oriented advice’; he advised Thomson Reuters on the European Commission’s investigation into its licensing practice, including handling the appeal of the Commission’s decision by Morningstar before the General Court in Luxembourg. The ‘exceptional’ Nelson Jung, who joined the team last year from the Competition and Markets Authority (CMA), advised Cineworld on the merger control aspects of its acquisition of five venues worth £94m, which was cleared unconditionally by the CMA. Greg Olsen is leading the team advising Mastercard on the European Commission’s ongoing investigation into its inter-regional interchange fee and cross-border acquiring rules. In another key mandate, Jenine Hulsman led the team advising Deutsche Telekom and EE Limited in relation to the unconditional Phase II clearance by the CMA of BT’s £12.5bn acquisition of EE Limited. Other notable clients include Booker Group, Cinven, EDF, J Sainsbury, Samsung, and NBCUniversal. Senior associates Petra Carey and Chandralekha Ghosh are also recommended. Chris Worall joined Burges Salmon LLP.

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

Clifford Chance has continued to attract enviable bank-side and issuer-side work throughout the London and European equity capital markets. In one of the department’s flagship deals of 2016, Adrian Cartwright, who heads the global equity capital markets practice, acted for National Australia Bank and CYBG in relation to the demerger of the two entities, and CYBG simultaneous IPO and listing on the LSE. Additionally, Cartwright and US securities expert John Connolly advised Informa on its £715m rights issue, which was used to fund the client’s £1.2bn acquisition of Penton. As underwriter’s counsel, the team acted for a consortium of banks led by Goldman Sachs International and Bank of America Merrill Lynch on Ascential’s IPO and listing on the LSE. Similarly, the group was instructed by the underwriter banks in relation to Metro Bank’s £400m pre-listing equity capital raise and subsequent listing on London’s main market. In the wider European market, Iain Hunter and Christopher Walton worked alongside the firm’s Warsaw office to advise the underwriters of Alior Bank’s PLN2.2bn rights issue to fund the acquisition of the banking business of Bank BPH from GE Capital.

Leading individuals

Adrian Cartwright - Clifford Chance

John Connolly - Clifford Chance

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Financial services
Financial services (contentious) - ranked: tier 1

Clifford Chance LLP

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

Clifford Chance LLP

Able to leverage its huge international network, Clifford Chance LLP’s has the ‘breadth and depth of technical knowledge’ to handle a tremendous volume of strategically important regulatory issues for a broad range of clients including banks, infrastructure providers and trade associations. The team has also developed numerous internet-based tools to assist clients navigate the vast range of regulatory issues they face, including "The Financial Markets Toolkit", which provides clients with easy online access to key legislation and know-how developed by the firm across a range of key regulatory topics. Active for a plethora of EU and non-EU financial institutions on the implications of Brexit, the team’s work has included developing business impact analyses and developing legal and regulatory location comparisons for operations across the EU countries. ‘Rising star’ Caroline Meinertz provides ‘solutions-oriented and pragmatic advice’ and has had a key role in much of this Brexit-related advice. Simon Crown has provided the regulatory input on several large financial services-related transactions including Cinven and CVC Capital Partners’ acquisition of leading consumer finance provider NewDay from Varde Partners. Team head Christopher Bates, Simon Gleeson, Monica Sah and Tim Plews are also recommended on the non-contentious front. The firm’s ‘market-leading’ contentious team has been at the forefront of the most significant domestic and multi-jurisdictional regulatory investigations in the industry, but also on occasion on behalf top-level executives and as a ‘result the practice ends up in the Upper Tribunal and gains experience that others do not get’. The ‘excellent’ Carlos Conceicao is ‘very well respected in the City with a great variety of clients’ and provides additional credibility with the regulator having himself formerly served as head of the FSA’s wholesale group in enforcement. ‘The very able’ Kelwin Nicholls is ‘extremely strong on high-profile cases’ which have recently included rate-setting misconduct on behalf of a major bank and market conduct issues on behalf of several commodities firms. The ‘massively experienced’ Simon Davis is ‘very well-thought of in the market’ and is a key member of the team that also includes Dorian Drew, Roger Best, Michael Lyons and Zoe Osborne.

Leading individuals

Carlos Conceicao - Clifford Chance LLP

Christopher Bates - 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: mid-market, £50m-£250m
Leading individuals

David Pearson - Clifford Chance

Guy Norman - Clifford Chance

Spencer Baylin - Clifford Chance

Tim Lewis - Clifford Chance

Next generation lawyers

Katherine Moir - Clifford Chance

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M&A: smaller deals, up to £50m
Leading individuals

David Pearson - Clifford Chance

Guy Norman - Clifford Chance

Spencer Baylin - Clifford Chance

Tim Lewis - Clifford Chance

Next generation lawyers

Katherine Moir - Clifford Chance

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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

Clifford Chance’s practice, which frequently handles complex, multi-jurisdictional public M&A, provides ‘a top-rate service in all respects’. 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; Hilary Evenett has ‘strong insurance M&A expertise’. Babcock, Johnson Matthey, GKN and Cambian are all clients of the practice. The ‘extremely knowledgeable, approachable’ Joel Ziff is ‘very responsive, and provides practical, high-level advice’. Spencer Baylin, Tim Lewis, David Pearson and global corporate head Guy Norman continue to be industry leaders; Norman and Katherine Moir acted for AB InBev on its £71bn purchase of SABMiller, and Moir, acting alongside Steven Fox, advised Informa on its £1.18bn purchase of Penton Information Services. Pearson and Lee Coney acted for Patron Capital on its £1.8bn acquisition of Punch Taverns, while Ziff and Gareth Camp advised SkyePharma on its £441m merger with Vectura Group, with the merged group valued at £1bn. Robert Crothers is also recommended. Moir and private equity expert Christopher Sullivan made partner in May 2016, and public M&A expert James Bole was made up to partner in May 2017. Patrick Sarch left in December 2016 to join White & Case LLP.

Leading individuals

David Pearson - Clifford Chance

Guy Norman - Clifford Chance

Spencer Baylin - Clifford Chance

Tim Lewis - Clifford Chance

Next generation lawyers

Katherine Moir - Clifford Chance

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Private equity: transactions
Private equity: transactions – Large-cap deal capability - ranked: tier 1

Clifford Chance

Clifford Chance has an extensive track record for multi-jurisdictional, large-cap transactions, and its team attracts praise for being ‘calm under pressure, professional and highly efficient’. A notable hallmark of the practice is its extensive coverage of issues beyond the purely transactional, such as those concerning antitrust, regulatory and employee benefits. In 2016, the firm was one of six firms to secure a place on Partners Group’s legal panel, while in 2017 global private equity head Jonny Myers and recently promoted partner Christopher Sullivan were part of a multi-disciplinary team acting for Cinven and CVC Capital Partners on the acquisition of NewDay from Värde Partners. In another highlight, Melissa Fogarty, David Pearson and others advised Parkdean Resorts (and its major institutional shareholders Epiris and Alchemy) on its £1.35bn sale to an indirectly owned company of Onex Corporation. In an illustration of its track record in emerging markets, the group handled more than 65 transactions in Africa in 2016. Other recommended practitioners include Spencer Baylin, Nicholas Hughes, Nigel Wellings, Brendan Moylan - Amy Mahon and Simon Tinkler.

Leading individuals

David Pearson - Clifford Chance

Jonny Myers - Clifford Chance

Next generation lawyers

Christopher Sullivan - Clifford Chance

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Trade, WTO, anti-dumping, and customs
Trade, WTO, anti-dumping, and customs - ranked: tier 3

Clifford Chance LLP

Clifford Chance LLP’s practice has been particularly active in providing post-Brexot trade advice; practice head Jessica Gladstone is advising ITV on the trade law implications of Brexit on the audio-visual industry and is acting for EDF on the impact trading under WTO rules could have on the Hinckley Project. The team also provided international sanctions advice to a number of clients across the financial services, energy, manufacturing, and insurance sectors.

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VAT and indirect tax
VAT and indirect tax - ranked: tier 2

Clifford Chance

Clifford Chance’s indirect tax group covers VAT advice, but also has wider specialisms in real estate tax and sovereign wealth indirect taxation. The VAT and indirect tax department is headed by David Saleh, who recently assisted Hammerson, in its role as partner of a redevelopment joint venture, with a novel reorganisation of the existing leasehold structure of the Brent Cross Shopping Centre; the development is a stepping-stone to the larger £4.5bn regeneration of the Cricklewood area in north London. He also acted for London and Quadrant on its £505m acquisition of Gallagher Estates - the largest land acquisition by any housing association in the UK. Indeed, the team is advising developer clients in connection with several multibillion-pound, mixed-use real estate development and regenerations. Director of VAT Simon Corzberg provides strategic, stand-alone VAT advice to investment groups and leasing platforms. IRUS and AXA are key clients. The practice also handles VAT and indirect tax disputes, though tax litigator Liesl Fichardt left for Quinn Emanuel Urquhart & Sullivan, LLP in 2017.

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 ‘an extremely strong player which is perfectly equipped to deal with the toughest fraud cases on both sides of the fence’, and the firm ‘continues to act on a wide range disputes for an equally wide range of clients’. Roger Best heads the department which recently acted for Citi in proceedings brought by Terra Firma, who alleged that the client induced the company to purchase London-based music group EMI at an inflated price. Other key figures include Jeremy Kosky, who acts for major corporates in fraud cases, and ‘outstanding tactician’ Matthew Scully, who is ‘extremely bright and has a real depth of experience in bribery litigation’.

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London: Dispute resolution

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

Clifford Chance LLP

Clifford Chance LLP’s ‘excellent, top-bracket practice fields highly motivated, tough and smart litigators with substantial experience’. It regularly acts in the most complex, high-profile banking disputes and investigations both within the UK and globally, with the work including class actions, international arbitration, regulatory investigations, criminal investigations, fraud and misrepresentation, sanctions and anti-money laundering issues. Recent highlights include defending BNP Paribas against two parallel proceedings filed in the Commercial Court, involving a $650m Islamic finance bond; and advising Citi in its successful defence of fraud claims brought by Terra Firma against it following the 2007 public-to-private sale of EMI to Terra Firma. Jeremy Sandelson is global litigation and dispute resolution practice head; Simon Davis is ‘very bright and impressive’; Roger Best is ‘excellent for identifying the strengths and weaknesses of cases’; Kelwin Nicholls ‘provides excellent strategic input and commercially astute advice’; and Julian Acratopulo is ‘very persistent and tough and he is very good indeed with clients’. Other recommended names are Ian Moulding, Helen Carty and Jeremy Kosky, as well as Matthew Scully, Roger Leese, Maxine Mossman, Matthew Newick and Christopher Yates.

Leading individuals

Ian Moulding - Clifford Chance LLP

Roger Best - Clifford Chance LLP

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Commercial litigation
Commercial litigation - ranked: tier 1

Clifford Chance LLP

One of the best commercial litigation departments in the City’, Clifford Chance LLP is highly rated for acting in cases involving cross-border issues, multiple claims and parties, complex transactions and corporate structures, and high-value claims. Recent experience included advising clients from multiple sectors, such as aerospace and defence, oil and gas, pharmaceutical, insurance, technology, energy and utilities, private equity and consumer goods, as well as financial services. Highlights saw the team advise Citi in its successful defence of fraud claims, brought against it by Terra Firma following the 2007 public-to-private sale of EMI to Terra Firma; and in a high-profile, high-value dispute involving litigation and investigations on both sides of the Atlantic, the practice defended Autonomy founder, Dr Mike Lynch, against allegations of financial impropriety and misrepresentation that were made by Hewlett-Packard (HP), which acquired Lynch’s software company in 2011 for £6.8bn. Simon Davis is commercial litigation head; Jeremy Sandelson is ‘quite spectacular 104; Julian Acratopulo ‘has a very commercial approach to litigation’; Iain Roxborough has ‘a calm approach and gives incisive advice’; Philip Hill is ‘delightful and always thinking how best to win a case’; Maxine Mossman is ‘very clever and on top of every detail in a case’; Helen Carty is ‘an excellent lawyer’; and Christopher Yates is ‘unflappable, charming and able’. Roger Leese, Jeremy Kosky, Ian Moulding, Matthew Scully and Roger Best are also widely respected practitioners.

Leading individuals

Iain Roxborough - Clifford Chance LLP

Jeremy Sandelson - Clifford Chance LLP

Simon Davis - Clifford Chance LLP

Next generation lawyers

Christopher Yates - Clifford Chance LLP

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Competition litigation
Competition litigation - ranked: tier 2

Clifford Chance

Clifford Chance is ‘a stand-out player’ representing both claimants and defendants in the UK and EU court systems. It regularly acts for FTSE100 and Fortune 500 listed companies and also maintains an active position in competition thought leadership. Department head Elizabeth Morony, who is ‘one of the most seasoned litigators in the UK’, has extensive experience of competition matters in the financial services sector; in 2016, she worked alongside the firm’s regulatory department to advise BNP Paribas on the first wholesale market study by the FCA into investment and corporate banking. ‘A born litigator’, Luke Tolaini is representing Pfizer in a CAT appeal of the Competition and Markets Authority (CMA)’s imposition of a £84.2m fine for abuse of its dominant position with regard to the sale of anti-epilepsy drugs in the UK. Matthew Scully is another key contact in the practice group and has recent experience acting for clients in the pharmaceuticals, technology and financial services sectors.

Leading individuals

Elizabeth Morony - Clifford Chance

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International arbitration
International arbitration - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP’s ‘service is excellent; the team is very reactive to requests, and anticipates events during the course of arbitration proceedings’. It regularly handles bet-the-company mandates, as well as cases which are highly charged politically or commercially. The practice represented Hyundai Heavy Industries, the world’s largest shipbuilder, in arbitration proceedings concerning the cancellation of a semi-submersible drilling platform. Global co-head of international arbitration Audley Sheppard QC is recommended for his ‘deep knowledge of arbitration proceedings, particularly LCIA arbitration’; Rob Lambert is ‘a no-nonsense litigator who doesn’t take hostages’; and Alex Panayides is ‘fantastic commercially and looks at issues from a wide variety of angles to suit business needs’. Marie Berard and Jessica Gladstone are names to note.

Leading individuals

Audley Sheppard - 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 is ‘an all-round, top-quality firm that always holds its own with worldwide competition’. The firm’s dedicated team advises corporations, sovereign states and international organisations on bilateral investment treaties (BITs) and investment protection; economic sanctions; business and human rights; and international trade law, including the WTO regime. Other areas of strength include territorial issues, boundaries and jurisdiction; state responsibility issues; Law of the Sea matters; and proceedings before international courts and tribunals. It acted for an international investor in an International Centre for Settlement of Investment Disputes claim for breaches of a BIT, which arose out of the Egyptian Government’s unilateral gas price increase and cancellation of a free zone licence. Rae Lindsay’s recent work includes advising on international sanctions, business and human rights, and immunities and privileges of states, state entities and international organisations. Lindsay is ‘extremely knowledgeable and very dedicated to clients’. Audley Sheppard QC, who is ‘highly practical and experienced’, regularly represents clients in investment treaty proceedings against states; his representative experience includes successfully defending a European government in an ECT arbitration, brought under the rules of the Stockholm Chamber of Commerce. Jessica Gladstone is recommended for PIL disputes, business and human rights, and international sanctions.

Leading individuals

Rae Lindsay - Clifford Chance LLP

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Tax litigation and investigations
Tax litigation and investigations - ranked: tier 2

Clifford Chance

Though the team at Clifford Chance has undergone considerable personnel changes in 2017, the contentious tax group retained capabilities in VAT and real estate taxation disputes. Indeed, David Saleh specialises in real estate and indirect taxation and is representing Project Blue Limited in a case against HMRC regarding the largest SDLT claim ever disputed for a single property; the firm won at appeal, after which HMRC petitioned the Supreme Court and the facts are such that around 800 other cases are dependent on the outcome of this case. Simon Corzberg focuses on VAT disputes and successfully resolved a HMRC dispute for Cubico Sustainable Investments, which concerned the restriction of VAT recovery resulting from shareholder loans. In 2017, Liesl Fichardt left the firm for Quinn Emanuel Urquhart & Sullivan, LLP, though the team also made multiple junior-level recruits.

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP has the critical mass and level of expertise among its practitioners to provide a ‘proactive and cost-effective’ service on behalf of banks, sponsors and corporates including Goldman Sachs, Deutsche Bank, CVC Capital and J Sainsbury. The firm has been active on a number of covenant-lite Term Loan B financings in several large-cap deals; Taner Hassan recently advised EQT on the €1.2bn financing (involving Term Loan B and revolving credit facilities, as well as a bonding line of credit) to facilitate its acquisition of Bilfinger’s real estate services division. The team is also well versed in handling transactions incorporating both bond and bank financings as exemplified by Charles Cochrane and Fabio Diminich’s recent work for the arrangers and underwriters in relation to the €380m high yield bond and €100m super senior revolving credit facility in support of Clayton, Dubilier & Rice and WM Holding’s acquisition of BUT, the largest furniture retailer in France. The firm has also been active advising on infrastructure-related acquisition finance mandates, including the London and Paris offices recent work for lenders on the senior and junior financing of First State Investment’s acquisition of Coriance SAS, the French district heating business. The ‘technically strong’ Emma Folds ‘is focused on representing lenders and is a very safe pair of hands’ for both banks and credit funds. Folds recently advised Commerzbank, as agent for a syndicate of lenders, on the $750m multi-currency term loan facilities provided to RPC Group on its acquisition of Letica and for the repayment of existing indebtedness. Jim MacHale and the ‘calm and experienced’ Michael Bates are also recommended.

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

Praised for its ‘client-friendly approach’, Clifford Chance LLP’s ‘very professional and highly talented’ four-partner team has expertise across the spectrum of financing deals in the aviation, rail and shipping markets. Benefiting from asset finance practitioners in key global jurisdictions (including in the US and Asia), clients appreciate the firm’s ability to work on ‘highly structured, complex or specialised financings that require attention to details involving multiple tax and legal jurisdictions’. Global head of asset finance William Glaister has an ‘excellent reputation in the market’ and is co-ordinating the firm’s work (in concert with lawyers out of the firm’s Singapore, Hong Kong and New York office) in relation to GECAS’s sale of a portfolio of 45 aircraft to Avolon. The ‘smart, dedicated, professional and easy to work with’ Paul Carrington provides an ‘attentive and detail-focused’ service to clients in the rail and aviation sectors; he recently advised ING Capital on a $139m pre-delivery financing facility to Ethiopian Airlines for the purposes of financing pre-delivery payments to Airbus for up to eight new Airbus A350-900 aircraft, scheduled for delivery to Ethiopian Airlines throughout 2017 and 2018. Ranbir Hunjan has an excellent reputation in the market for handling highly structured aviation finance deals; his recent work includes acting for Natixis as arranger of financing structures for A380 aircraft using a Cayman Islands or Abu Dhabi Global Market orphan SPC as borrower/AOE and lessor to Emirates or Etihad pursuant to an operating lease. On the shipping front, the ‘excellent’ Oliver Hipperson has a strong reputation in London for handling complex ship finance mandates; he recently advised Maersk on the lease restructuring, and subsequent sale and charter-back, of eight container ships to a subsidiary of Bank of Communications Financial Leasing. Hipperson is also active in the secondary debt trading market within the asset finance sector. Director Christopher Hardisty has strong relationships with lessors, banks and export credit agencies active in the aviation sector. Other clients include Investec, Deutsche Bank, Avolon and HSBC.

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

The ‘knowledgeable and experienced’ team at Clifford Chance LLP provides an ‘excellent service’ to lenders and borrowers on corporate lending mandates ranging from working capital facilities to big-ticket acquisition financings. Praised for her ‘strong technical skills’, Emma Folds has significant expertise in the investment grade space and recently advised Commerzbank on the $750m facilities provided to RPC Group in connection with its acquisition of US plastics manufacturer Letica. The ‘very experienced and well-respected’ Michael Bates heads the firm’s London finance team; in addition to his market-leading expertise for infrastructure financing, he is also regularly involved in general corporate lending matters. Alongside Matthew Dunn, he recently advised J Sainsbury on the amendment and restatement of its £1.15bn revolving credit facility used in part to finance its takeover bid for Home Retail Group. ‘Able to handle a variety of different transactions’, the ‘very clever’ Charles Cochrane regularly advises on corporate loans; he acted for Barclays Bank on the £630m syndicated revolving credit facility provided to ITV. Other recommended partners include the ‘calm and experienced’ Nicola Wherity, the ‘experienced and commercial’ James Boswell, Jim MacHale, and Peter Dahlen, who ‘has a very good understanding of the Nordic financial markets’. Other clients include HSBC, Goldman Sachs and Jaguar Land Rover.

Leading individuals

Jim MacHale - Clifford Chance LLP

Michael Bates - Clifford Chance LLP

Nicola Wherity - Clifford Chance LLP

Next generation lawyers

Matthew Dunn - Clifford Chance LLP

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Commodities: derivatives
Commodities: derivatives - ranked: tier 3

Clifford Chance LLP

Noted for the breadth of its derivatives and structured finance capability, Clifford Chance LLP's practice in London includes several partners that are known for their knowledge of phsyically and financially-settled OTC, exchange-traded and securitised commodity contracts. The firm also has in-depth knowledge of commodity-linked instruments such as carbon-linked bonds. Derivatives specialists Habib Motani, Matthew Grigg and Paget Dare Bryan are all recommended, as are regulatory partners Chris Bates and Simon Crown. Emerging markets experts Leonard Cleland and Logan Wright also handle signficant commodity derivatives matters. The firm advised banks including ING Bank on a syndicated borrowing facility for a pan-European multi-commodity wholesale and trading group, and assisted Trafigura with a $90m financing of two subsidiaries of an independent Russian oil producer. Both deals included derivatives elements.

Leading individuals

Claude Brown - Reed Smith LLP

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

Clifford Chance LLP

Able to leverage its extensive international network in an ‘effective way’, Clifford Chance LLP’s five-partner team provides ‘commercial advice’ to a broad array of stakeholders including banks, funds, corporates and IPs. Led out of London by Philip Hertz and Iain White and also including supporting from several other international offices of the firm, the team continues to advise bondholders and new money providers on the €13bn Abengoa Group restructuring. David Towers advised the super senior lenders to South African retailer, Edcon, on its highly complex balance sheet restructuring, involving as it did complex intercreditor arrangements, various tranches of debt facilities, and high yield notes, as well as governing documents spanning UK, South African and New York law. John MacLennan has been active within the oil services space and alongside Hertz recently represented semi-submersible accommodation provider, Prosafe SE, on the successful restructuring of its NOK1.3bn and $288m bank facilities. Adrian Cohen has experience across a range of jurisdictions including involvement in the majority of the major corporate restructurings in the UAE. Other clients include Angelo Gordon, HSBC, Mizuho and PIMCO.

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

At Clifford Chance LLPthe team always has the interests of the client at heart and always delivers on its promises’. Clients praise the firm’s ‘extensive experience in the field of DCM backed by a very strong regulatory team’ and remark that the firm has ‘a group of professionals with vast experience who are easily accessible, attentive to details and diligent; they are creative in their thinking and able to solve difficult and complex matters swiftly’. The firm is present on some of the biggest deals in the market, including the largest ever Euro-denominated corporate bond in which it advised Anheuser-Busch InBev on six series of issuance totalling €13.5bn to finance its acquisition of SABMiller. Stewart Dunlop led that deal and is one of a highly respected group of partners that includes head of capital markets Simon Sinclair, infrastructure and project finance capital markets specialist David Bickerton, project bonds expert Clare Burgess, Paul Deakins, who regularly advises on equity-linked bonds and liability management, and David Dunnigan, who advises sovereigns, major corporations and financial institutions. ‘The partners have a hands-on approach to every issue that arises and are well informed’, says one client. The firm’s many highlights from 2016 included advising arranger HSBC on a €350m greenfield project bond in Turkey, which saw EBRD’s first-ever provision of a subordinated liquidity facility; a $500m deal in Russia for lead managers including GazPromBank and JPMorgan; and a $1bn debut Eurobond issue for Southern Gas Corridor, which was the first to be guaranteed by the Republic of Azerbaijan.

Leading individuals

David Bickerton - Clifford Chance LLP

David Dunnigan - Clifford Chance LLP

John Connolly - 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

The team at Clifford Chance LLP is ‘very responsive, has a good overview of the market and produces excellent documentation, which comes with good value for money and high quality of service’. One clients remarks that it is ‘one of the leading firms for bespoke transactions, thought leadership and document remediation in light of new regulations’. The practice advises on all types of transactional derivatives across multiple asset classes including commodity, equity, credit and interest rates, and collateral and financing structures. It also advises major financial institutions on structured product issuance programmes, including listings and prospectus approvals in all markets. On the retail side, it covers the full range of structured notes, warrants, certificates, funds, market access products, repackagings, OTC derivatives, proprietary indices, insurance products and structured deposits. The firm continues to act as European regulatory counsel for ISDA. Retail and insurance product expert Andrew Coats and Asia-Pacific specialist Paget Dare Bryan are co-heads of the London practice, while the vastly experienced Habib Motani leads the global team. The firm is ‘by far the dominant player in the niche market of balance sheet CLOs, the best firm in this space’ thanks to the ‘clear-thinking, commercial and pragmatic’ Jessica Littlewood and newly promoted Timothy Cleary. Anne Drakeford advises on a broad range of products including OTC fixed income and equity-based derivatives, asset-backed securities, credit and equity-linked notes and synthetic CDOs. Emerging markets and structured credit expert Matthew Grigg, Jeremy Walter and senior associate William Winterton, who advises buy-side and sell-side clients on OTC and exchange-traded derivatives, are also recommended. The team advised arranging banks on the Project Orion €186m synthetic securitisation of a portfolio of corporate loans for an Irish bank. Its clients include HSBC, Deutsche Bank, Goldman Sachs and Morgan Stanley.

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

Clifford Chance LLP fields multi-disciplinary, cross-border teams that provide market-leading expertise in banking, project finance, commodity and trade finance, structured finance, securitisation, derivatives and both debt and equity capital markets. ‘At the top of its game’, the London finance team serves as a hub for much of the emerging markets work done in partnership with local offices in key jurisdictions; the firm’s Africa practice, for instance, sees the teams in London and Casablanca collaborate closely. The firm also has one of the most prominent profiles for work involving India and Latin America, and leverages its Moscow office to play a lead role in deals centred on Russia, the CIS and the CEE, while its Istanbul office allows it to continue building on its strong track record of transactions in Turkey. The firm’s deep bench includes global capital markets head Adrian Cartwright; banking partner Leonard Cleland, who works in the Africa, Turkey and Greece groups; Titus Edjua and energy, natural resources and infrastructure partner Jeremy Connick who are co-heads of the Africa practice; high yield specialists Michael Dakin and Fabio Diminich; debt capital markets expert David Dunnigan; and banking and finance partner Russell Wells, who is a key member of the India team. A key highlight for the practice saw Wells advise members of The World Bank Group on major financings in Ghana, including acting for the International Development Association as provider of a $500m liquidity risk guarantee in support of the offtake obligations of Ghana National Petroleum Corporation, and assisting the International Bank for Reconstruction and Development with three debt guarantees with a total value of $200m for the Sankofa Gas Field project. The firm also acts for EBRD, Bank of America Merrill Lynch, Deutsche Bank and HSBC.

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

Clifford Chance LLP has a team of two partners and two counsel that is praised by clients for having ‘the strongest private equity focus of the Magic Circle firms’. The practice, which advises on corporate issuances and restructurings, handles New York law-governed Rule 144a deals, but places a heavier emphasis on European deals sold to European investors, particularly involving issuances in Eastern Europe. Partners Fabio Diminich and Michael Dakin were joined in 2016 by counsel Andrew Kelly, who relocated to London from Hong Kong to support the high yield team. The firm also promoted Claudia Kim to counsel. Highlights included advising a bondholder committee on the €19.5bn restructuring of clean energy conglomerate Abengoa, in which Dakin advised on the restructuring of the company’s 11 high yield bonds. Diminich and Kim acted for laboratory services company Synlab Bondco on its €940m new issuance; the team advised the same client on a €190m private placement. In 2016, the firm also handled significant matters for clients such as Cinven, Deutsche Bank and Inmarsat Group.

Leading individuals

Fabio Diminich - Clifford Chance LLP

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Islamic finance
Islamic finance - ranked: tier 1

Clifford Chance

Clifford Chance’s global Islamic finance team utilises its on-the-ground presence in all of the most active Islamic financial centres to advise on what are consistently among the largest global shari’ah-compliant transactions. The department’s lawyers have truly been at the forefront of thought leadership, especially in relation to shari’ah-compliance of structured products, including swaps and hedging products. Habib Motani provides ongoing advice in relation to Islamic hedging and liquidity markets and has been instrumental in the ongoing development of standardised documentation for those markets. In the transactional space, the London team regularly works alongside the firm’s Middle East-based teams, but is also perfectly capable of handling significant matters solely from the London office. Indeed, William Glaister has helped lead major cross-border sukuk transactions in conjunction with the firm’s Dubai team, and Leonard Cleland has handled high-value murabaha facilities from London. Dubai-based Qudeer Latif heads the firm’s global Islamic finance practice.

Leading individuals

Habib Motani - Clifford Chance

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Securitisation
Securitisation - ranked: tier 1

Clifford Chance LLP

A standout firm in the securitisation market’, Clifford Chance LLP acts for the full range of market participants including sponsors, issuers and originators; arrangers and dealers; trustees, swap providers and servicers; and governments, regulators and rating agencies. Often at the forefront of market developments, its team in London works closely with the firm’s European offices on trade receivables financing, covered bonds and deals based on consumer assets such as credit cards. The firm continued to be involved in a number of market firsts, including its advice to HSBC as arranger on the €648m securitisation of a pool of SME loans originated by the National Bank of Greece, which was the first loan securitisation in Greece since 2007. The firm acted for the same client, in this instance as lender, on the £100m warehousing of NewDay Cards' Amazon and TUI-branded credit card offerings. Kevin Ingram, who is prominent in credit card deals but has a broad securitisation practice, is also recommended, as are Stephen Curtis, who specialises in structured debt financings in the infrastructure, utilities and real estate sectors; Andrew Forryan, who focuses on whole-business, mortgage and real estate securitisation; real estate finance partner Emma Matebalavu, who frequently handles loan portfolio sales, purchases and financings, CMBS and RMBS; receivables financing expert Simeon Radcliff, who focuses on developing markets including Russia and Turkey; head of the China desk Maggie Zhao; and Christopher Walsh, who acts for both arrangers and originators on RMBS, CMBS and covered bond deals. Swaps specialist Jessica Littlewood, who is active in the CLO space, and newly promoted partner Timothy Cleary, who has become a prominent practitioner in synthetic securitisations, also garner praise from clients.

Leading individuals

Kevin Ingram - Clifford Chance LLP

Stephen Curtis - Clifford Chance LLP

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Trade finance
Trade finance - ranked: tier 2

Clifford Chance LLP

At Clifford Chance LLPresponse times are excellent and the advice always meets expectations; the firm’s quality is perfect and the marvellous team of associates provides world-class service’, says one client. Another notes that ‘appropriateness of advice is second to none’. The practice handles traditional letters of credit and bills of exchange alongside complex structured trade finance deals, export financings and receivables-based transactions. Leonard Cleland and Logan Wright (who ‘never disappoints’) are singled out, as is senior associate Ashley McDermott, whose practice encompasses energy, mining and metals, and who is rated for his ‘ability to get to the nub of an issue’. Highlights included advising arrangers including Bank of Tokyo Mitsubishi on a $519m ECA-backed facility for National Grid North America to finance goods and equipment supplied by Prysmian; and acting for Export Development Canada on an unsecured direct loan to PLC (Indonesia) for the purchase of mobile gas turbine generators.

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

The ‘supportive’ share schemes and incentives group at Clifford Chance LLPhas tremendous strength, depth and technical expertise’. Headed by the ‘outstanding’ and ‘formidable’ Sonia Gilbert, the group primarily advises FTSE 100 clients, covering transactional support and remuneration regulatory matters. Gilbert advised Sainsbury’s on a number of matters relating to its £1.4bn acquisition of Home Retail Group, including exit packages for directors and senior managers. Senior associate Liz Pierson assisted NEX Group in relation to the incentives aspects of its £1.1bn demerger and disposal to Tullett Prebon. Other clients include Barclays, RBS and Babcock International.

Leading individuals

Sonia Gilbert - Clifford Chance LLP

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Employment: employers and senior executives
Employment: employers - ranked: tier 1

Clifford Chance LLP

In addition to transactional support, Clifford Chance LLP’s practice often advises on high-risk litigation. Practice head Chris Goodwill successfully defended Barclays in a number of unfair dismissal claims brought by former FX traders. Goodwill also advised on the employment aspects regarding the sale of ICAP’s £1.1bn voice-broking and information business to Tullett Prebon. Mike Crossan advised Permira on compliance issues regarding the extension of the Senior Managers and Certification Regime. Crossan also assisted EQT with multi-jurisdictional employment matters concerning the client’s acquisition of GB Railfreight, including TUPE transfers, union recognition arrangements and redundancy terms. The team’s other key figures include Alistair Woodland and senior associate Chinwe Odimba-Chapman. Imogen Clark has retired.

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’s ‘excellent’ team has ‘profound knowledge on the subject’, and ‘can deliver advice rapidly and accurately’. Headed by Hywel Robinson, it has experience acting for both corporates and trustees on matters involving large schemes, including plan mergers and buy-ins. ‘An exemplary source of advice and guidance’, ‘impressive negotiator’ Clare Hoxey continues to advise Babcock International on multiple pensions arrangements, including issues concerning former public sector employees and funding. Hoxey has also been instructed by the trustees of the Alcatel-Lucent Pension Scheme on various matters, including a £300m buy-in with Aviva and scheme mergers. The team includes senior associate Rebecca Trapp. Other clients include Mitchells & Butlers, Barclays and EDF.

Next generation lawyers

Rebecca Trapp - Clifford Chance LLP

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London: Insurance

Insurance litigation: for policyholders
Insurance litigation: for policyholders - ranked: tier 2

Clifford Chance

Clifford Chance is lauded as ‘one of the best’ for its ‘slick outfit’ and strength across the board in everything from D&O claims to professional indemnity and credit insurance matters. Its first-rate client roster includes BNP Paribas, ASR Group and Fujitsu. The ‘absolutely superb’ Philip Hill is ‘as canny an insurance litigator as it is possible to be’ in representing insured entities in major coverage disputes. Highlights included acting for a bank in D&O claims concerning regulatory investigations into the operation of alternative trading systems; handling a large claim relating to losses that occurred on the cancellation of a tour; and representing a European energy company in insurance arbitration arising out of political events in Egypt. Senior associate Christopher Ingham – who is ‘a good technical insurance lawyer with a high level of attention to detail’ – acted for a European bank in two London Court of International Arbitration actions pertaining to disputed claims under two credit insurance policies. Senior associate Maximilian Buttinger is an additional contact in the practice.

Next generation lawyers

Christopher Ingham - Clifford Chance

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

Clifford Chance

Clifford Chance’s team provides ‘an excellent service’, advising clients on the full array of issues including M&A transactions, financings, capital raisings and regulatory matters. The firm’s client roster includes property and casualty insurers and reinsurers, participants in the Lloyd’s market, offshore captives and insurance and reinsurance brokers, among others, and the team has a strong reputation across both domestic and international insurance markets. Recent highlights included acting for Pension Insurance on its £250m equity capital raise and advising Enstar on the reinsurance of a Lloyd’s syndicate managed by StarStone Underwriting, which covered approximately £120m worth of liabilities. Practice head Katherine Coates is a well-regarded figure in the market and advises on all aspects of commercial work, including M&A transactions, joint ventures and product strategy issues. Other leading practitioners include Hilary Evenett, who acts primarily for financial institutions, asset managers and life and non-life insurers; Ashley Prebble, who specialises in IPO’s, Part VII transfers and regulatory matters; and Narind Singh, whose key clients include Legal & General, Swiss Re and Abbey Life.

Leading individuals

Katherine Coates - Clifford Chance

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London: Investment fund formation and management

Private funds
Private funds - ranked: tier 2

Clifford Chance

Clifford Chance’s team, headed by Nigel Hatfield and also including the ‘impressive’ Gerard Saviola, handles a range of heavyweight funds work including debt funds, infrastructure funds, and buyout funds, some of which concerning emerging markets. Alexandra Davidson was elected to the partnership in 2016, while Simon Crown is a name of note in the regulatory sphere. The firm acts for sector luminaries such as Bridgepoint, Equistone, 3i, InfraCapital and Deutsche Bank.

Leading individuals

Nigel Hatfield - Clifford Chance

Next generation lawyers

Alexandra Davidson - Clifford Chance

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Real estate funds
Real estate funds - ranked: tier 1

Clifford Chance

Clifford Chance advised fund sponsors such as TIAA Henderson, PGIM and M&G Investments on forming large real estate funds and co-investment vehicles investing in buildings across sectors as well as well as real estate debt. Gerard Saviola and Nigel Hatfield act for managers on products targeting a variety of real estate debt across building types, as well as ones investing assets in international mature markets as well as emerging ones. Alexandra Davidson made partner.

Leading individuals

Nigel Hatfield - Clifford Chance

Next generation lawyers

Alexandra Davidson - Clifford Chance

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London: Private client

Contentious trusts and probate
Contentious trusts and probate - ranked: tier 2

Clifford Chance LLP

Clifford Chance LLP’s team is ‘absolutely first class and regularly deals with the very largest and most complex disputes in this area’. The ‘extremely able’ Jeremy Kosky has ‘a great grasp of the detail as well as the bigger picture. He is absolutely brilliant at dealing with highly charged situations and has the rare ability to take the heat out of these situations to move things in a positive direction. He is a problem solver of the highest order’. Maxine Mossman also ‘always looks for a solution’. Highlights included acting for Affinity Private Wealth in relation to a Cayman Islands claim against Viktor Vekselberg and Renova entities; the action relates to the alleged misappropriation of assets from a private equity fund, and is relatively rare as a derivative action in the trusts arena. In another matter, the team is representing Virtus Trust, which has been joined to proceedings in the English High Court in its capacity as trustee of an offshore trust; the claimant is seeking to set aside certain transactions under insolvency law, including transfers into the trust, and the matter has been stayed pending the outcome of jurisdiction proceedings in Cyprus.

Leading individuals

Jeremy Kosky - Clifford Chance LLP

Maxine Mossman - 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 team of ‘smart, commercial and responsive’ lawyers is described as ‘one of the best’ and services an impressive client roster, which includes 3i Infrastructure, J.P. Morgan and Goldman Sachs. The ‘fantastic’ Michael Bates focuses on banking and capital markets work and recently advised Rock Rail East Anglia on the procurement and £620m financing of rolling stock for the East Anglia franchise, and assisted Global Infrastructure Partners on the financing of its acquisition of 20% stake in Gas Natural. Brendan Moylan sits in the private equity team and is ‘great across the board’; he was part of the team acting for USS on its acquisition of the Moto Group and the subsequent sale of a 40% stake to CVC Capital Partners. Corporate partner and M&A specialist Amy Mahon has ‘a deep understanding of what clients want and what is worth a fight’. Michael Pearson was promoted to partner.

Leading individuals

Brendan Moylan - Clifford Chance LLP

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Mining and minerals
Mining and minerals - ranked: tier 3

Clifford Chance LLP

James Pay and David Lewis jointly lead Clifford Chance LLP’s mining and minerals team, which has strong expertise in project financing and corporate transactions. Clients such as Metalcorp, Anglo American Platinum and Sierra Rutile instruct it in arbitration proceedings, funding agreements and transactional matters. Russell Wells and Iain Hunter are also key contacts.

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Oil and gas
Oil and gas - ranked: tier 1

Clifford Chance LLP

Clifford Chance LLP’s oil and gas team is jointly headed by the ‘hardworking and pragmatic’ Graham Phillips, Alex Panayides and Ashvin Seetulsingh; they handle all aspects of upstream, midstream and downstream matters, while the global energy and resources group, which is led by Russell Wells, has ‘strong expertise in oil and gas M&A’. The firm is equally adept handling disputes as well as non-contentious matters: Panayides, who also heads the construction disputes department, worked alongside Rob Lambert to represent Hyundai in LMAA arbitration proceedings regarding the cancellation of a semi-submersible drilling platform; they also acted for Lukoil in an ICC arbitration in connection with an oil field in the Middle East. On the transactional front, the firm acts for oil majors on strategic acquisitions, and is also active in oil and gas related restructurings. Highlights included advising the lenders on the restructuring of Premier Oil’s Schuldschein loans (the German equivalent of a private placement) as part of the wider restructuring of $4bn of financial liabilities; this was the first instance of loans of this type being restructured by an international oil and gas company. In another key matter, John MacLennan and Philip Hertz worked alongside the Singapore office to advise Prosafe, a global provider of semi-submersible offshore accommodation vessels, on the restructuring of English and Norwegian facilities. Other notable clients include Statoil, Total and Sinopec.

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

Clifford Chance LLP

Clifford Chance LLP is a regular fixture on major nuclear and renewable power projects, as demonstrated by John Wilkins’s work for EDF in connection with the Hinkley nuclear plant project in Somerset and the team’s retention by SDIC and the EIB to oversee the acquisition of Repsol’s UK wind portfolio. Global head of the renewables unit James Pay is acting alongside M&A specialist Brendan Moylan to advise lenders on a number of power transactions, including GIP’s acquisition of a 50% stake in the Gode Wind 1 offshore farm project in Germany. Ashvin Seetulsingh – who co-heads the firm’s oil and gas practice – handled the financing of two solar PV projects in the Middle East. Other notable figures include Nicholas Hughes, who heads the global power group and has handled wind project acquisitions on behalf of Actis and Aela, and Jeremy Connick, who acts for lenders and sponsors. Engie, GE and Royal Dutch Shell also feature in the firm’s enviable client roster.

Leading individuals

Jeremy Connick - Clifford Chance LLP

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London: Real estate

Commercial property
Commercial property: development - ranked: tier 1

Clifford Chance

Commercial property: general - ranked: tier 1

Clifford Chance

Commercial property: hotels and leisure - ranked: tier 2

Clifford Chance

Commercial property: investment - ranked: tier 1

Clifford Chance

Clifford Chance’s ‘involvement applies a high quality stamp on transactions which is recognized across borders’; during 2016 the team was busy on a high volume of corporate deals involving real estate entities. In the self-storage sector, Catherine Cook acted for Storage Mart on its £113m acquisition of Big Box Self Storage; while in the housing sector global practice co-head Jonathan Solomon, who has a ‘wealth of relevant industry knowledge’, assisted L&Q with its £505m acquisition of Gallagher Estates. Other key players for investment work include ‘superb’ global practice co-head Adrian Levy, who is ‘good at finding solutions to problems’; and Mark Payne, who is a ‘seasoned, calm and pragmatic adviser on large deals’. The practice was also active in the development sub-sector, where specialisms include large-scale regeneration projects, mixed-use schemes and over-station developments. Solomon is representing Native Land on its $1bn regeneration project at Bankside, and Angela Kearns advised The Hongkong and Shanghai Hotels on the acquisition of Grosvenor’s entire 50% interest in their joint venture to deliver a mixed use development at 1-5 Grosvenor Place, London. The hospitality sector is another strength and the practice is invariably ‘used for the largest and most complicated projects in the industry’. Both Alis Pay and Jane Cheong Tung Sing are singled out for their ‘expert, detailed knowledge’, particularly in relation to hotel and leisure facility financings. Payne and ‘industrious’ senior associate Ian Painter acted for a high-net-worth individual and restaurateur on the acquisition of 74 Charlotte Street, to include a newly developed restaurant unit.

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: contentious and non-contentious
Construction: contentious - ranked: tier 3

Clifford Chance LLP

Construction: non-contentious - ranked: tier 2

Clifford Chance LLP

Offering ‘top class quality on very complex issues’, the non-contentious team at Clifford Chance LLP remained active on a number of high profile London development projects during 2016. ‘Absolute expert’ Marianne Toghill is leading on construction work for Battersea Power Station Land Company in relation to the redevelopment of Battersea power station, and is also acting for Helical on a mixed-use development at Barts Square. In the energy sub-sector, practice head David Metzger combines ‘mastery of his subject with commercial and practical application’; he advised Galloper on various contracts, including turbine supply terms and electrical systems contracts for the 340MW Galloper offshore wind project in the UK. The team is also noted for its African thermal energy practice, with director Tim Steadman, Sandy Hall, and ‘very commercial’ senior associate Edward Bretherton busy on a range of mandates, including acting as sponsor’s counsel for a 567MW CCGT plant in Nigeria. On the contentious side, the ‘first rate’ practice specialises in energy sector arbitration; recent work examples include Marie Berard and Alex Panayides representing a consortium and an offshore wind developer in an ICC arbitration against one of its main contractors relating to the construction of an offshore wind farm; and Panayides and Robert Lambert advising Hyundai Heavy Industries in LMAA arbitration proceedings concerning the cancellation of a semisubmersible drilling platform (and associated overrun issues), that occurred during the construction of the vessel.

Leading individuals

Tim Steadman - Clifford Chance LLP

Next generation lawyers

Edward Bretherton - Clifford Chance LLP

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Environment
Environment - ranked: tier 1

Clifford Chance

Nigel Howorth heads the practice at Clifford Chance; he has an extensive track record in energy sector mandates, including advising Horizon Nuclear Power on the environmental aspects of the development of a new generation of nuclear power facilities in the UK, and acting for 3i Infrastructure on the environmental and regulatory aspects of its acquisition of Infinis' landfill gas generation business. In another transactional energy highlight, Howorth acted for PKA and Kirkbi on the regulatory aspects of the purchase of 50% of the 32-turbine, 258MW Burbo Bank Extension offshore wind project from Dong Energy. Outside the energy space, the team assisted key client Pfizer with various regulatory matters: as well as advising on different aspects of the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) regulation, the team also advised on environmental liability issues arising from a supplier contract concerning manufacturing operations in a developing country. Senior associate James Shepherd specialises in emissions trading work, renewable energy projects, energy regulation, and the environmental aspects of corporate and real estate transactions and projects.

Leading individuals

Nigel Howorth - Clifford Chance

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Planning
Planning - ranked: tier 3

Clifford Chance

Clifford Chancecombines excellent pragmatic advice with rapid response times, and a willingness to engage on day-to-day as well as more complex issues’. The team acted for key client Canary Wharf Group on a number of major development schemes, including planning for the landmark North Quay development, as well as assisting with implementation of the outline planning permission for the Wood Wharf regeneration scheme. In another significant development highlight, the team is representing Helical Bar on variations to the section 106 agreement relating to the development of Barts Square. The practice also handles energy planning and regularly advises on power station developments, as well as renewables and new-build nuclear; in one highlight the ‘extremely able and experienced’ Nigel Howorth, who heads the practice, is advising Horizon Nuclear Power on the DCO for a new nuclear power station in Wylfa, Wales. Senior associate Elizabeth Hardacre ‘works tirelessly for clients, and is rated for her amazing attention to detail’.

Next generation lawyers

Elizabeth Hardacre - Clifford Chance

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Property finance
Property finance - ranked: tier 1

Clifford Chance

Clifford Chance, whose practice is well stocked with ‘market leaders’, is a ‘go-to firm for complex property finance transactions’, especially in development finance and pan-European finance. Lender-side work is a particular strength: the ‘extremely knowledgeable, practical’ Barry O’Shea, who provides ‘sound, well-thought-out advice’ and is ‘great at driving deals forward’, acted for Wells Fargo and AIG as joint lead arrangers on their £560m financing of both Quintain’s redevelopment of the Wembley Estate and the refinancing of an extant acquisition finance facility. He also advised both institutions on the associated inter-creditor arrangements for the £240m mezzanine facility provided by Canadian Pension Plan Investment Board. Damian Perry assisted HSBC and Qatar National Bank with their £664m residential development financing of the first three phases of the £3bn Chelsea Barracks redevelopment. Jane Cheong Tung Sing and practice head Andrew Carnegie acted or HSBC on the CZK13.5bn refinancing of a portfolio of residential properties in the Czech Republic. Other lender-side clients include J.P. Morgan, Starwood European Finance Partners, Deutsche Bank and Barclays. The team also handles borrower-side work: Cheong Tung Sing advised an affiliate of TKG StorageMart partners on an £83m facility from an affiliate of Blackstone Real Estate Debt Strategies to finance the former’s purchase of Big Box. Alistair McGillivray is ‘very, very good’; Emma Matebalavu is also recommended. ‘Incredibly thorough’ senior associate Zak Ikponmwosa is an ‘excellent negotiator and a safe pair of hands on any deal’; he has ‘excellent technical and industry knowledge’. Senior associate Claire Fawcett is also recommended.

Leading individuals

Andrew Carnegie - Clifford Chance

Barry O’Shea - Clifford Chance

Damian Perry - Clifford Chance

Jane Cheong Tung Sing - Clifford Chance

Next generation lawyers

Claire Fawcett - Clifford Chance

Zak Ikponmwosa - Clifford Chance

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Property litigation
Property litigation - ranked: tier 3

Clifford Chance LLP

At ‘strong firmClifford Chance LLP, the ‘impressive and concise’ Ben Hatton, who is ‘an experienced and able property litigator’, heads the practice, advising across the full gamut of property litigation with particular expertise in development disputes. Hatton’s recent work includes advising The Hongkong & Shanghai Hotels on the creation of a rights of light strategy pertaining to a development in Grosvenor Place, representing Deloitte in a fit-out dispute against its landlord Land Securities, and handling rights of light issues for Saxon Land relating to a major central London development. Other highlights include acting for Horizon Nuclear Power in squatter and trespass actions at its nuclear power station sites and representing Grosvenor Group, as landlord, in a dispute against a former tenant regarding rent defaults. Senior associate Jane O’Leary is recommended for insolvency-related real estate disputes and commercial litigator Iain Roxborough regularly handles development litigation.

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

Clifford Chance

Clifford Chance’s team is ‘professional, proactive and incredibly knowledgeable’ and Alistair McGillivray stands out for his ‘excellent leadership’. Other key names include Angela Shepherd, who is ‘unbelievably reliable’, Paul Deakins, who specialises in bond financing and private placements, and Bruce Kahl who regularly acts for corporate trustees. The firm recently acted for Barclays on the amendment and restatement of a facility agreement with Longhurst Group; and advised Barclays, HSBC and the Royal Bank of Scotland, as the underwriters, on People for Places’ issuance of £400m guaranteed notes. Despina Pantelia retired and Ruby Giblin joined Winckworth Sherwood LLP.

Leading individuals

Angela Shepherd - Clifford Chance

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London: Risk advisory

Brexit
Brexit - ranked: tier 1

Clifford Chance

Clifford Chance, whose service is ‘of the highest order’, not only provides legal advice to its clients but also spends a significant amount of time engaging with industry associations such as the CBI, AFME and BBA. It has a first-rate public policy practice, which sees members of the London office operating alongside experts across the network to anticipate changes in public policy and assist clients in formulating commercial strategies; Phillip Souta is the head of the firm’s UK public policy team. Another pillar of the firm’s work is on the international trade side, where it advises businesses and trade bodies on post-Brexit trade issues, including matters involving WTO law, GATTS and trade barrier regulations. Jessica Gladstone has direct experience of negotiating multilateral treaties, and has represented the UK at the UN and other international institutions. She and Jenine Hulsmann are advising Électricité de France (EDF) on the potential impact on the Hinckley nuclear project of the UK trading with the EU under WTO rules. Shell and ITV are other clients.

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

Clifford Chance LLP

Clifford Chance is ‘in the top bracket of this very competitive field’, and has significant expertise in all areas of financial crime including sanctions, fraud, cartels and criminal investigations. It has represented Serco in several high-profile investigations brought by the UK government into its billing practices, and also advised the founder of Autonomy in relation to allegations of financial impropriety and misrepresentation made by Hewlett-Packard. Key practitioners include Judith Seddon, a ‘leading solicitor in the field with excellent judgement and analytical skills’; Roger Best, who acts in fraud, sanctions and AML-related issues; and Luke Tolaini, who focuses on corporate criminal liability and cross-border crisis management. RBS and Barclays are also key clients.

Leading individuals

Judith Seddon - Clifford Chance LLP

Roger Best - Clifford Chance LLP

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London: TMT (technology, media and telecoms)

Fintech
Fintech - ranked: tier 5

Clifford Chance

Clifford Chance fields five partners that focus the majority of their time on fintech matters, and can call on a further a further seven partners with expertise in this area. The practice largely acts for high-profile financial institutions, multinational corporations and major start-ups. It has experience in a range of fintech areas, especially blockchain and payments, and is most active in handling corporate, finance, competition and IP work in the fintech sector. Jonathan Kewley, who made partner in May 2017, is the key contact: he is a data privacy and cybersecurity expert with a strong line in complex financial technology projects. On the corporate side, technology and outsourcing specialist André Duminy was part of the team advising BBVA on its £45m purchase of a 30% stake in Atom Bank, the UK’s first mobile app-based bank. Duminy, Kewley and corporate partner Steven Fox advised ICAP on the £1.4bn merger of its global hybrid voice-broking and information business with Tullett Prebon. Alongside competition partner Greg Olsen, Duminy acted for Mastercard on the competition aspects of its £700m purchase of VocaLink, a company that provided necessary infrastructure to Bacs, Faster Payments and LINK, three crucial UK payments systems. Other key partners include financial regulatory experts Caroline Meinertz, Simon Crown and Simon Gleeson. Financial regulatory senior associate Peter Chapman is also recommended.

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IT and telecoms
IT and telecoms - ranked: tier 4

Clifford Chance LLP

The ‘excellent’ team at Hogan Lovells International LLP is praised for its ‘industry knowledge’ and ‘business acumen’. Peter Watts, who is co-global head of the TMT practice, has ‘a commercial’ and ‘pragmatic’ approach. He recently advised Sepura on refinancing and capital restructuring. Don McGown has expertise in M&A and restructuring in the telecoms sector and consultant Quentin Archer is an expert in IT law, primarily handling transactions. John Salmon, who is highly regarded for acting for financial services sector clients, provided strategic and regulatory advice to Open Banking. Counsel Susan McKiernan specialises in IT contracts. Charlie Hawes joined Clifford Chance in 2017.

Clifford Chance LLP’s transactions-focused team has considerable expertise in the technology and telecoms sectors. TMT practice head Joachim Fleury is a key name for technology and communications transactions; he has historically advised Deutsche Telekom and T-Mobile on the merging of their business with Orange.

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Intellectual property
Intellectual property - ranked: tier 5

Clifford Chance LLP

Clifford Chance LLP has increased its ‘presence’ in this space, following the recent arrival of the ‘charming but tough’ Stephen Reese from Olswang LLP; he has considerable expertise in the life sciences sector and the ‘confidence to listen to views from the whole team’. Reese recently acted for Astex in a dispute with AstraZeneca regarding an Alzheimer’s drug’s clinical development. Brands specialist Vanessa Marsland, who focuses on the technology, media and consumer goods sectors, recently advised Mondeléz on the sale of various Australian brands, including Vegemite. Leigh Smith is experienced in handling soft IP, and fellow senior associate Anna Blest advises on transactional and contentious IP.

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London: Transport

Rail
Rail - ranked: tier 1

Clifford Chance LLP

The ‘fantastic’ department at Clifford Chance LLP handles a range of high-profile rail projects for investors, operators and suppliers. The team advised Rock Rail East Anglia on the procurement and £620m senior financing of rolling stock from Stadler Bussnang to be leased to Abellio, as the successful franchisee on the East Anglia rail franchise. It also advised EQT Infrastructure II, through an indirectly owned company within the Hector Rail group, on its acquisition of the entire issued share capital of GB Railfreight from Groupe Eurotunnel. TfL, RBS, Network Rail, SMBC, CDPQ, Hermes Infrastructure and Lombard are also clients. Paul Carrington specialises in financing and leasing and heads the rail practice, which includes Michael Pearson, who advises on UK and international rail projects, and Ranbir Hunjan, who handles leasing and banking matters. Consultant Gavin Teague and senior associate Dominic Watts are also recommended. Nelson Jung recently re-joined the firm from the UK's Competition and Markets Authority.

Next generation lawyers:

Dominic Watts - Clifford Chance LLP

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