Cravath, Swaine & Moore LLP > London, England > Firm Profile

Cravath, Swaine & Moore LLP
CITYPOINT
ONE ROPEMAKER STREET
LONDON
EC2Y 9HR
England

Finance > High yield Tier 1

Cravath, Swaine & Moore LLP is a firm that focuses exclusively New York law deals, predominantly for issuers, though it is also active on the underwriter side The firm has ‘perfect knowledge and understanding of existing documentations and market practices, strong negotiation skills, and the ability to innovate to reach the best possible deal for the client‘. It has has notable expertise in executing complex, cross‑border high yield bonds issued in multiple currencies. London managing partner and co-head of EMEA capital markets Philip Boeckman is ‘a very commercial, pragmatic and knowledgeable individual‘ and clients remark that he is ‘consistently available, calm and solution-focused‘. Key partner George Stephanakis represented the initial purchasers in a £500m 144A/Reg S high-yield senior secured notes offering of Bellis Acquisition Company plc, of which Asda is a subsidiary. Alyssa Caples represented Picard Groupe S.A.S., Lion/Polaris Lux 4 S.A. and Picard Bondco in connection with a €1.71bn 144A/Reg. S high-yield sustainability-linked fixed rate/floating rate senior secured and senior notes offering. European counsel Margaret Rallings played a key role in the firm’s work for Premier Foods Finance plc in its £330m Reg S high-yield senior secured notes offering.

Practice head(s):

Philip Boeckman

Testimonials

‘Perfect knowledge and understanding of our existing documentations and market practices.’

‘Strong negotiation skills and the ability to innovate to reach the best possible deal for the client.’

‘Most of the interactions I have are with George Stephanakis for whom the above remarks are applicable.’

‘Philip Boeckman is a very commercial, pragmatic and knowledgeable individual in this area. He is consistently available, calm and solution-focused.’

‘Strong commitment to timetable, long-term relationship, extremely knowledgeable in financial markets, strong institutional knowledge which makes every new deal very smooth.’

Key clients

Barclays

Casino Group

Credit Suisse

Goldman Sachs

Goldstory

J.P. Morgan

Lion Capital

Morgan Stanley

NH Hotel Group

Picard Groupe

Premier Foods

Sappi

Work highlights

  • Represented the initial purchasers in the £500 million high-yield senior secured notes offeringof Bellis Acquisition Company (ASDA).
  • Represented Picard Groupe in a €1.71 billion high-yield sustainability-linked fixed rate/floating rate senior secured and senior notes offering.
  • Represented NH Hotel Group in its €400 million high-yield senior secured notes offering.

Finance > Debt capital markets Tier 3

The team providing legal advice is very responsive', say clients of Cravath, Swaine & Moore LLP, adding that 'the approach taken is to develop practical solutions following the question'. Co-head of the EMEA capital markets practice Philip Boeckman has a broad ECM and DCM practice. Counsel Lawrence Verhelst acts for corporate and sovereign issuers and financial institutions in US and international capital markets transactions, including high yield and investment grade debt. Both are 'very knowledgable and they listen and develop legal solutions that are practical'. In 2021, Boeckman represented the European Investment Bank in four registered notes offerings with a total value of $15bn. George Stephanakis  , who co-leads the EMEA finance practice, acted for AngloGold Ashanti in a $750m registered notes offering, and assisted Casino Group with a cash tender offer for its 2025 and 2026 EMTN notes.

Practice head(s):

Philip Boeckman

Other key lawyers:

Lawrence Verhelst; George Stephanakis

Testimonials

‘The team providing legal advice is very responsive. The approach taken is to develop practical solutions following the question. The knowledge of the area of law in question and the market practice related thereto is very high.’

‘Philip Boeckman and Lawrence Verhelst are the main contacts. They are very knowledgeable. They respond to question in a very short time. They listen and develop legal solutions that are practical.’

‘Excellent and practical technical knowledge.’

‘Ability to communicate difficult or technical concepts and understand corporate priorities.’

‘Very “on market “; no messing; support execution.’

‘Philip Boeckman is excellent.’

Key clients

AngloGold Ashanti

British American Tobacco

Casino Group

Cineworld

The European Investment Bank

J.P. Morgan

Prosus

Work highlights

  • Since March 2021, the firm has represented the European Investment Bank in five registered notes offerings totaling $16.5 billion, including its $1.5 billion offering of a Climate Awareness Bond (Green Bond).
  • Represented Prosus in its $3.25billion senior notes offering and its concurrent €1.75billion senior notes offering under its $12billion global medium-term note programme.
  • Represented AngloGold Ashanti in its $750million registered notes offering.

United States > Intellectual property > Patents: litigation (full coverage)

Cravath, Swaine & Moore LLP fields a group of ‘superb trial lawyers with a long track record in dealing with complex patent litigation’, who are particularly well-versed in the life sciences, ‘including biologics and technology’, medical devices and telecommunications sectors. New York-based practitioners Keith Hummel, who has a ‘particular expertise in handling complex, often multi-jurisdictional patent disputes’, and Sharonmoyee Goswami are the key contacts of the practice, which brings to bear its extensive transactional expertise, and is also a solid choice for commercial litigation frequently arising from IP matters, such as antitrust and breach of license claims. Richard Stark  retired in December 2021.

Testimonials

The firm has superb trial lawyers with a long track record in dealing with complex patent litigation. It is particularly known for handling complex often multi-jurisdictional litigation in relation to medical devices, life sciences including biologics and technology.’

Keith Hummel is a superb lawyer with a particular expertise in handling complex, often multi-jurisdictional patent disputes. He is exceptional at complex patent matters. He is frequently called in to coordinate multi-jurisdictional patent disputes. He is incredibly knowledgeable, creative and pragmatic and an absolute pleasure to work with.’

Keith Hummel is incredible – he brings unique and effective insights to every issue, he effectively communicates internally and externally, and he delivers high-quality results without exception.’

Everyone from partners to associates are fantastic, highly responsive and deliver quality insights and work product.’

Among other talents, they have a gift for simplifying seemingly complex issues and crafting a path to a successful solution. When stakes are high in a patent case, Cravath is the team to engage.’

For individuals who stand out, I think of Keith Hummel.’

Key clients

Abiomed Inc.

Alarm.com Inc.

Axalta Coating Systems, LLC

Blue Yonder Group, Inc.

CRISPR Therapeutics

Illumina, Inc.

Quibi Holdings, LLC

Vitaworks IP, LLC

Work highlights

  • Representing Abiomed in two patent infringement matters relating to patents for guidance systems used to place intravascular blood pumps.
  • Representing Axalta Coating Systems, LLC in patent infringement litigation filed by PPG Industries Ohio, Inc. and PPG Industries, Inc. alleging that Axalta infringes a PPG patent claiming a three-layer coating system.
  • Representing Vitaworks as plaintiff in patent litigation against several entities alleging infringement of 11 Vitaworks patents for improved methods of manufacturing taurine.

United States > Finance > Financial services regulation

Cravath, Swaine & Moore LLP substantially bolstered its expertise in non-contentious financial services regulation in February 2021 with the addition of David Portilla from Debevoise & Plimpton LLP. Portilla, a highly-regarded specialist in this area, acts for a number of trade associations in engaging with regulators and also assists banks on compliance with Dodd-Frank regulations. Portilla also works alongside the firm’s corporate practice to handle M&A transactions involving financial services companies. The firm is based in New York.

Practice head(s):

David Portilla

Testimonials

‘David Portilla is our go-to advisor for understanding the application of the US banking regulatory framework to our investments, as a non-US bank with activities in the US. He impresses by applying his mastery of the law pragmatically to the issues at hand.’

Key clients

Afterpay

Dfinity

ECN Capital

GreenSky

Managed Funds Association

Mizuho

Natixis

Nomura

Royal Bank of Canada

Securities Industry and Financial Markets Association (SIFMA)

Silicon Valley Bank

Westpac Banking Corporation

Work highlights

  • Representing ECN Capital in the pending $2 billion sale of its Service Finance business to Truist Bank.
  • Provided regulatory advice to SIFMA in connection with their response to the Basel Committee’s consultation on preliminary proposals for the prudential treatment of banks’ crypto asset exposures.
  • Representing GreenSky in connection with its pending $2.24 billion acquisitionby Goldman Sachs.

Cravath, Swaine & Moore LLP is widely recognised as one of the preeminent law firms in the world. Each of its practices is highly regarded and its lawyers are recognised for their commitment to the representation of their clients’ interests.

The firm: Founded in 1819, Cravath provides US legal advice to companies located around the world. The firm has a rich, century-long legacy of commitment to Europe and has maintained a dedicated London office and team, one of the largest contingents of US lawyers in the city, since 1973.

Types of work undertaken: Cravath is committed to an international practice of the highest quality. Its lawyers regularly advise clients based in and outside the US on a wide range of international transactions, including cross-border mergers and acquisitions, international capital markets and bank financings and general corporate and SEC compliance matters. Cravath’s lawyers often work closely with leading law firms in Europe and elsewhere, providing advice on complex transactions that require extensive knowledge of and experience in the laws of multiple jurisdictions. The firm represents clients in litigation in US courts and in arbitrations and investigations conducted throughout the world.

Corporate: Cravath’s work with many of the world’s most significant companies has enabled it to develop a broad-based corporate practice. Clients repeatedly choose Cravath for their largest and most complex matters. The firm’s corporate lawyers represent companies in a diverse range of M&A transactions, including cross-border and US-inbound mergers, acquisitions, divestitures, spin-offs, joint ventures and strategic investments, as well as hostile takeovers and the defense of companies and boards of directors against activist hedge funds. Cravath also advises private equity firms and their portfolio companies in mergers, acquisitions, dispositions, financings and tax planning and structuring. The firm has a highly regarded capital markets practice, representing issuers and investment banks in US and non-US offerings. Cravath’s banking and credit lawyers regularly represent major financial institutions and borrowers on acquisition financings and lending transactions ranging from simple credit agreements to complex multicurrency, multijurisdictional financings. The firm provides corporate governance advice to clients facing difficult choices and evaluates complex and often unprecedented transactions under the most demanding circumstances. The financial restructuring and reorganization practice addresses a wide range of issues triggered by financial distress or insolvency. Cravath’s highly regarded environmental lawyers work with its clients on matters related to acquisition and disposition strategies, financings and regulatory compliance as well as challenges and opportunities associated with environmental, social and governance (“ESG”) issues, sustainability concerns and climate change. The firm’s IP lawyers advise clients in many corporate contexts, including acquisitions and divestitures, multiparty joint ventures and strategic investments, licensing agreements and portfolio development and exploitation. Cravath’s tax department designs tax-efficient structures for mergers, spin-offs, joint ventures and private equity acquisitions. The firm’s executive compensation and benefits department advises companies, boards of directors, compensation committees and members of senior management in a variety of compensation and benefit arrangements, as well as legal compliance concerns. Cravath’s trusts and estates lawyers work closely with US and non‑US private clients to realize their business, estate planning and philanthropic goals by advising them on the creation and administration of trusts, estates and charitable foundations.

Litigation: Clients turn to Cravath to handle their most significant and sensitive disputes and investigations across a broad range of practice areas and industries. The firm’s litigators are routinely called upon to represent clients in trials and appeals in federal and state courts, in domestic and international arbitrations, before administrative agencies and regulatory authorities, and in many other types of proceedings, including internal and government investigations and enforcement actions. The firm has extensive experience in such diverse areas of the law as antitrust, bankruptcy, corporate governance, employment, general commercial, IP, M&A, securities, tax and white collar criminal defense. Companies, boards and board committees regularly rely on the firm to handle contested transactions and guide them through the intricacies of shareholder litigation and investigations, as well as complying with applicable laws and regulations. In addition to handling antitrust litigation, the firm advises on business conduct or potential investments and represents clients in securing regulatory approvals. With respect to IP, the firm handles critical litigation involving trade secrets, patents, copyright and trademarks and frequently advises clients on national and worldwide IP strategy. In the area of securities litigation, the firm is widely recognized for handling complex and often precedent-setting cases.

Clients: Along with governments and multinational institutions, the firm’s client base includes some of the world’s best known companies and financial institutions, including: AerCap, American Express, Amgen, AngloGold Ashanti, Anheuser-Busch InBev, Ashland, Avon, AXA, Bacardi, BAE Systems, Banco Santander, British American Tobacco, Campari, Citigroup, Compagnie de Saint-Gobain, Costamare, Credit Suisse, Dassault Systèmes, Delhaize, Deloitte & Touche, Deutsche Börse, Disney, Drax, European Investment Bank, Ferroglobe, GasLog, Genpact, Goldman Sachs, Grupo Villar Mir, HDFC Bank, hibu, Honeywell, IBM, INEOS, Johnson & Johnson, Jose Cuervo, JPMorgan, Just Eat Takeaway.com, KION, Linde, Lindsay Goldberg, Morgan Stanley, Mylan, Naspers, NCR, Nestlé, NH Hotel Group, Novartis, Peugeot, Picard, Premier Foods, PricewaterhouseCoopers, QUALCOMM, RELX, Royal Dutch Shell, Royal KPN, RWE, Sappi, Schneider Electric, Starbucks, Technicolor, Telia, UBS and Unilever.

Other offices: New York

DepartmentNameEmailTelephone
Presiding Partner Faiza J Saeed
Managing Partner of London Office Philip J Boeckman
PhotoNamePositionProfile
Philip Boeckman photoMr Philip BoeckmanPhilip J. Boeckman is a partner in Cravath’s Corporate Department and serves…
Alyssa Caples photoMs Alyssa CaplesAlyssa K. Caples is a partner in Cravath’s Corporate Department, focusing on…
George Stephanakis photoMr George StephanakisGeorge A. Stephanakis is a partner in Cravath’s Corporate Department and serves…
:

Diversity and Inclusion

At Cravath, we believe that excellence and diversity go hand in hand.

Our Firm is made up of individuals with different backgrounds, perspectives and experiences, enabling us to provide the highest level of legal representation to our clients. We see each incoming class of associates as the next generation of Firm leaders, and thus place great importance on drawing talent reflective of not only the law school population, but also the larger community in which our clients operate. Our commitment to diversity goes beyond recruiting. From facilitating interactions between our women attorneys and alumnae to empowering our affinity groups in their interactions with lawyers across all levels at the Firm, our dedication to promoting diversity and fostering inclusion is woven throughout our culture. We firmly believe that by cultivating an environment that enables lawyers to reach their full potential, we maintain a vital advantage in an increasingly complex and fast‑changing legal landscape.

Reflective of our commitment to diversity and inclusion, Faiza Saeed is our Presiding Partner, which makes us one of only a handful of large law firms led by a woman. Additionally, 11 out of 20 of our most recently elected partners are women, including three women of color. Our 2020 summer associate class is 59% women, 40% people of color and 9% LGBTQ+.

For more information about diversity and inclusion at Cravath, visit our website.

Pro Bono

Challenging pro bono work has long been a cornerstone of our practice. It is a fundamental part of who we are and it is critically important to those whom we help. The full resources of the Firm are brought to bear in support of every pro bono matter, whether the client is a low‑income single mother or a coalition of U.S. Congress members.

Our pro bono work also provides a meaningful way for our lawyers to develop and strengthen their legal skills. Associates and summer associates are strongly encouraged to take on pro bono clients, and they’re instructed to provide them with the same top‑tier representation we offer our paying clients. Under a partner’s supervision, associates have taken the lead in cases where they represent domestic violence survivors, political asylum seekers, hospitalized children, wrongfully convicted inmates, victims of racial and gender discrimination, and many others. Associates have provided transactional advice to non‑profit organizations, and they have worked on precedent‑setting litigation in areas that range from civil rights to copyright law. From defending the first Native American tried for the murder of a white man to helping establish the Miranda doctrine, our attorneys have achieved landmark victories in civil rights cases that have changed society for the better. Pro bono opportunities are readily available to lawyers in all the Firm’s practice areas.

Our legal services partners include the ACLU, American Immigrant Representation Project, Brennan Center for Justice, CAIR NY, Center for Global Enterprise, City Bar Justice Center, Disability Rights Advocates, Her Justice, Human Rights First, Immigration Equality, Lambda Legal, Lawyers Alliance, Lawyers Committee for Civil Rights Under Law, The Legal Aid Society of New York, Legal Services NYC, New York City Anti‑Violence Project, New York Lawyers for the Public Interest, New York Legal Assistance Group, Sanctuary for Families, Trustlaw, Volunteer Lawyers for the Arts, and Volunteers of Legal Service, and many of them have recognized the Firm with awards for our pro bono work.

For more information about pro bono at Cravath, visit our website.