The Legal 500

London: Corporate and commercial

Commercial contracts

Commercial contracts - ranked: tier 4

White & Case LLP

Philip Trillmich and Lindsey Canning lead White & Case LLP's practice, which focuses on transactional commercial, technology and intellectual property matters. The team acts for clients on a standalone basis, and also provides support on corporate transactions, such as joint ventures, M&A and restructurings. Canning has a particular specialism in handling the commercial aspects of carve-out transactions, and also assists suppliers and customers with various other freestanding commercial agreements (including BPOs, IT outsourcings and agreements involving the transfer and exploitation of intellectual property). The group acts for clients involved in a number of areas, particularly software and data, digital health, automotive, telecommunications and pharmaceuticals. Canning and others assisted The Scotts Miracle-Gro Company with negotiating the commercial agreements related to the sale of its international consumer business to Exponent Private Equity. The team also advises One-Pro Cycling Limited on a number of commercial matters, which recently included its partnership with Aston Martin and a key kit supply agreement. Elsewhere, the group has become increasingly active in the fintech space.

[back to top]

Corporate tax

Corporate tax - ranked: tier 4

White & Case LLP

Prabhu Narasimhan leads White & Case LLP's corporate tax team, which handles the tax aspects of the firm's wider corporate practices, with particular expertise in real estate, financial services, private equity. The group has an active standalone practice which focuses on structuring and restructuring mandates. Michael Wistow and Peita Menon are further practitioners of note.

Leading individuals

[back to top]

EU and competition

EU and competition - ranked: tier 6

White & Case LLP

The 'very good and reliable' team at White & Case LLP is jointly led by EMEA competition head Mark Powell and the ‘technically strong and commercially astute’ Marc Israel. Israel, who joined the practice in January 2017, ‘provides very carefully thought through advice showing clear and sensible judgement’. His highlights since joining the firm included advising Bridgepoint on the merger control aspects of its investment in Zenith, the UK’s largest independent vehicle leading business and advising HgCapital on the antitrust aspects of its further £4.2bn investment into Visma. Other clients of the practice include Anchorage Capital, Toshiba, Pfizer and Nespresso.

[back to top]

Equity capital markets

Equity capital markets - ranked: tier 1

White & Case LLP

White & Case LLP's 'first-class' department is praised by clients for its 'rapid response times, sound judgement and superb international strength in depth for complex multi-jurisdictional matters'; emerging markets are a particualr strength. Inigo Esteve, who leads the team jointly with Jonathan Parry, has 'an excellent understanding of the letter of the law as well as practicalities and commercial considerations', and is 'a rare lawyer'. Parry and the US-qualified Darina Lozovsky acted for En+ Group on its $1.5bn IPO on the LSE and the Moscow Exchange, constituting the largest Russian IPO in five years, while Parry and the US-qualified Laura Sizemore advised Alfa Financial Software Holdings on its £278m IPO on the LSE. Other clients include Cabot Credit Management, Energean Oil & Gas and, on the underwriter side, Morgan Stanley, UBS and Deutsche Bank. The US-qualified Michael Immordino is also recommended.

Leading individuals

[back to top]

Financial services

Financial services (non-contentious/ regulatory) - ranked: tier 5

White & Case LLP

White & Case LLP 's two-partner team provides 'consistently excellent advice' to a range of financial service clients, entities including numerous global entities. 'Very experienced and highly responsive ' team head Stuart Willey 'really knows his stuff' and has a developed particularly strong reputation for advice relating to the new risk retention rules impacting the CLO market. James Greig has a good perspective of the regulatory environments in the UK, the US and across EMEA garnered through many years' experience in private practice as well as his recent role in-house at BNY Mellon. Alongside Willey,  Greig has been representing a global investment bank on MiFID ii implementation.

[back to top]

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

M&A: upper mid-market and premium deals, £250m+ - ranked: tier 3

White & Case LLP

White & Case LLP has an ‘exceptional standard of service’; the firm is ‘always on top of industry trends and at the forefront of thought leadership’. The team handles significant international deals, particularly those requiring US and European advice, with particular focus in servicing public companies, financial institutions and sponsors, oil and gas, energy and infrastructure clients, and technology and telecoms companies. Patrick Sarch and Ian Bagshaw co-head the London corporate practice. Sarch has particular experience acting for financial institutions, notably representing the directors of The Co-operative Bank on the bank’s formal sales process under the Takeover Code and subsequent rescue restructuring and £700m capital raising. Bagshaw notably acted alongside co-lead of infrastructure project M&A John Cunningham on Bupa’s £835m acquisition of Oasis Healthcare. Alan Burke and Allan Taylor are key figures on the oil & gas and energy side of the practice, working with big name clients including Saudi Aramco, Rosneft, PetroSaudi and Nostrum Oil & Gas. Gavin Weir is recommended for his ‘committed, business-minded approach with a clear understanding of the expected commercial goals’. Daniel Turgel joined in January 2018 from Linklaters LLP and Dominic Ross joined from Ashurst in May 2018.

[back to top]

Private equity: transactions

Private equity: transactions – high-value deals - ranked: tier 2

White & Case LLP

White & Case LLP 'consistently delivers high-quality output' in large UK and cross-border deals, and has reinforced the reputation of its London office as the hub of the global private equity practice by investing in its team. In recent developments, Michael Weir joined from Jones Day, while Emmie Jones joined from Macfarlanes LLP. Peggy Wang (who is the head of Asia private equity M&A) has relocated to the London office from Hong Kong. In addition, Steven Worthington made partner. Ian Bagshaw leads the group, which acts for UK and international private equity investors and corporates in their most sophisticated deals. In 2017, a team co-led by Bagshaw and Richard Jones, which included associates Nicole Vella and Linford Coates, acted for Harbour Energy Limited (the energy investment vehicle managed by EIG Global Energy Partners) in its agreement to lead the $3bn acquisition by Chrysaor of a diversified portfolio of North Sea oil and natural gas assets from Shell UK and its affiliates. In another deal, Marcus Booth, Gavin Weir and other members of a multi-disciplinary team advised GSO Capital Partners and the other shareholders (including Coller Capital and Lloyds Bank) on the sale of UK housebuilder Miller Homes to Bridgepoint for £655m. Also recommended is Jarlath McGurran, who was one of the lead partners advising Anchorage Capital, GIC and Davidson Kempner on the €3.5bn sale of Irish telecom company Eir to a subsidiary of NJJ and France-based Iliad. Kenneth Barry has experience of assisting clients with investments in Central and Eastern Europe, Africa and Asia, among other regions. Other key figures are John Cunningham, Caroline Sherrell, and associates Michael Mountain and Lucy Bullock.

Leading individuals

Next generation lawyers

[back to top]

London: Crime, fraud and licensing

Fraud: white-collar crime

Fraud: white-collar crime - ranked: tier 2

White & Case LLP

White & Case LLP acts for individual and corporate clients in bribery and corruption cases. The firm continues to advise an individual implicated in the foreign exchange benchmark manipulation investigation; after the SFO dropped its investigation, the client has now been indicted by the DOJ. Jonathan Pickworth heads the department with ‘great international experience’. Recently promoted partner Joanna Dimmock is ‘committed, hardworking and conscientious’.

[back to top]

London: Dispute resolution

Banking litigation: investment and retail

Banking litigation: investment and retail - ranked: tier 3

White & Case LLP

White & Case LLP’s finance litigation team handles a broad range of contentious areas, including court proceedings (in the UK and elsewhere), regulatory investigations, internal investigations, pre-action dispute advice, and questions on contentious or potentially contentious matters. The practice acted for Deutsche Bank in its response to investigations by multiple regulators, which arose from suspicious trading on its Moscow equities desk; the issues in the case included anti-money laundering controls, Know Your Client checks, sanctions, banking secrecy and data privacy. John Reynolds is London head of commercial litigation and co-head of the global financial institutions practice; and Charles Balmain is the EMEA regional section head for commercial litigation and white collar. Other names to note are London white-collar crime team head Jonathan Pickworth, Amanda Cowell, Rory Hishon and Joanna Dimmock. Key growth included hiring Hannah Field-Lowes, formerly co-head of disputes at Weil, Gotshal & Manges (London) LLP’s London office, and promoting Paddy Patrick to counsel.

Leading individuals

[back to top]

Commercial litigation

Commercial litigation - ranked: tier 3

White & Case LLP

White & Case LLP 'understands what issues to dispute, with an eye on strategic outcomes that benefit clients' cases'. The practice, which recently hired Hannah Field-Lowes, previously co-head of disputes at Weil, Gotshal & Manges (London) LLP, has a long history of representing clients on their highest-value, cross-border disputes. It defended the Oi Group, one of Brazil’s leading telecoms operators, against multiple bondholder claims, co-ordinated by a New York-based vulture fund; this has involved litigation in the Netherlands, Brazil, the US, UK, and the Cayman Islands. John Reynolds is London commercial litigation head; Charles Balmain is EMEA commercial litigation and white-collar section head; Mark Clarke is 'a class act'; and Rory Hishon 'goes above and beyond in both his work ethic and commitment'. Amanda Cowell was made partner and Paddy Patrick was promoted to counsel.

Leading individuals

Next generation lawyers

[back to top]

Competition litigation

Competition litigation - ranked: tier 3

White & Case LLP

White & Case LLP's competition litigation practice encompasses defending follow-on damages claims and appeals against EU and UK regulatory decisions. The group is based in the competition department, but draws heavily on the firm's exceptional disputes litigation team. Marc Israel, who joined from Macfarlanes LLP in 2017, heads the competition litigation team and divides his time between London and Brussels, with a focus on multi-jurisdictional matters. Mark Powell leads on EMEA competition matters, and has expertise in competition law as it relates to telecommunications. Charles Balmain continues to act for NTN in defence of follow-on damages claims in the Competition Appeal Tribunal and other threatened proceedings in the UK and other jurisdictions arising out of the European Commission decision on the automotive bearing cartel. Jacquelyn MacLennan represented Toshiba in an appeal to the European General Court against a Commission decision to fine the client for participating in a global cartel in cathode ray tubes. James Killick is another key contact.

[back to top]

International arbitration

International arbitration - ranked: tier 2

White & Case LLP

White & Case LLP is 'one of the leading firms in this area and provides a very good service'. The practice is regularly instructed by major corporations and governments with politically sensitive and complex arbitrations; and it has particular strength in advising contractors, financial services, oil and gas, and high-tech companies. It represented Panama's Grupo Unidos por el Canal and its shareholders Sacyr, Salini Impregilo and Jan De Nul in a dispute with the Panama Canal Authority, which involved the $5.5bn Panama Canal expansion project. Phillip Capper and Aloke Ray are the practice co-heads; Russia-related disputes expert David Goldberg is 'a very good lawyer, particularly because he has a lot of common sense and is very sensitive to the needs of clients'; Mark Clarke is 'a class act'; and Clare Connellan 'brings alternative views to the table and unexpected solutions'. Dipen Sabharwal, Edward Attenborough and Paul Brumpton are also key practitioners, while associate Alexander Rowe  is 'an upcoming lawyer who is dedicated and sharp'.

Leading individuals

Next generation lawyers

[back to top]

Public international law

Public international law - ranked: tier 4

White & Case LLP

White & Case LLP 'handles high-profile, high-stakes public international law matters'. Acting for both investors and states, the team focuses on complex international arbitrations arising from corporate transactions connected to Russia and the CIS; it has also been active in Romania, Latvia and Panama-related matters. David Goldberg 'stands out for his ability to focus simultaneously on the big picture of co-ordinating global, multi-jurisdictional issues whilst not losing sight of the underlying details'; Tomas Vail is a key senior associate; and associate Stephanie Stocker is 'an excellent lawyer, who is both very technically gifted and extremely hard-working'.

[back to top]

London: Finance

Acquisition finance

Acquisition finance - ranked: tier 1

White & Case LLP

Benefiting from 'an excellent bench both at partner and associate level', White & Case LLP delivers 'decisive and thoughtful advice' to lenders (Deutsche Bank, Goldman Sachs), corporates (Paysafe Group, Iris Software) and private equity sponsors (CVC, Mid Europa Partners). Able to tap into a global network of offices and also with the ability to effectively deliver on the New York-law governed high yield piece should the need arise, the team excels at 'complex cross-border mandates across the debt spectrum'. Led by Lee Cullinane, the team 'really knows the market and does an excellent job of guiding banks through the process', and as a result of 'having very strong London and New York bank side lending practices which actually communicate with each other, it means they know where the market is at any given time'. In a deal which exemplifies the firm's ability to work in a unified fashion implementing the expertise of numerous international offices of the firm including New York, Paris and Brussels, Cullinane recently acted for the arrangers (including JP Morgan and ABN Amro) on the leveraged financing to facilitate Refresco's strategic acquisition of Cott's North American bottling activities. The 'technically very sound' Jeremy Duffy 'knows the market inside out and is a leading light in the European leveraged finance market'. Duffy recently advised a group of lenders in connection with Lonestar’s €605m acquisition of Spain-based Esmalglass. On the private equity front, in what was the largest ever Sterling unitranche financing, the 'excellent' Martin Forbes represented Bridgepoint on the £425m TLB financing for the acquisition of Zenith. Spearheaded by the 'superb' Gareth Eagles and also with significant input from newly promoted partner Emma Foster , the firm is also handling a significant amount of work in the alternative capital provider space, most notably on behalf of GSO Capital Partners. Colin Harley and Justin Wagstaff are also recommended.

Leading individuals

Next generation lawyers

[back to top]

Asset finance and leasing

Asset finance and leasing - ranked: tier 2

White & Case LLP

Led by the 'very approachable and thorough' Justin Benson, White & Case LLP 's three-partner team is best known for its expertise at handling new money and refinancing matters within the aviation and shipping sectors, where it benefits in particular from the ability to implement financing structures incorporating UK and US-law governed debt structures. In a deal which showcased the team's ability to work seamlessly with complementary practice areas, Benson recently worked alongside restructuring practitioners on behalf of Kenya Airways on its $2bn financial restructuring. Benson also worked alongside private equity lawyers at the firm on Rhône Capital's $150m investment in global aviation company VistaJet. As well as her considerable aviation sector experience, Alison Weal also regularly handles rail and shipping finance matters including her recent high-profile work for United Arab Shipping Company on its merger with Hapag-Lloyd. Adrian Beasley is 'excellent at communicating complex issues', particularly as it relates to finance activity in the aviation sector. Other clients include Deutsche Bank, Euler Hermes, Nordea Bank and UK Export Finance.

Leading individuals

Next generation lawyers

[back to top]

Bank lending: investment grade debt and syndicated loans

Bank lending: investment grade debt and syndicated loans - ranked: tier 3

White & Case LLP

Able to tap into a 'very strong bench at both partner and associate level' and also well-placed to handle major cross-border syndicated mandates by virtue of the firm's international network of offices and expertise across the capital structure (including bank and New York-law governed high yield financings), White & Case LLP handles work for an impressive roster of corporates and lenders including Deutsche Bank, Goldman Sachs,  and Iris Software. Christopher Czarnocki has an excellent track record on behalf of corporates and lenders in relation to emerging markets financings; he recently acted for Ghana National Petroleum Corporation on the financing to facilitate a landmark liquefied natural gas (LNG) regasification project located in Ghana. The 'pragmatic and commercial' Jeremy Duffy 'can be relied upon to navigate complex transactions'; although best known for his cross-border leveraged finance prowess, also handles general banking and corporate lending work, including his recent representation of Paysafe Group plc on the provision of a $380m TLB financing (to be syndicated in the European and US markets) in support of the acquisition of certain assets of Delta Card Services. Lee Cullinane and Jacqueline Evans are also recommended, while next generation lawyer Sudhir Nair  joined as a partner from Baker McKenzie in late 2018.

Leading individuals

Next generation lawyers

[back to top]

Corporate restructuring and insolvency

Corporate restructuring and insolvency - ranked: tier 2

White & Case LLP

Headed by the 'results-focused' Christian Pilkington,  White & Case LLP's 'young and dynamic' four-partner team benefits from 'serious depth on the key restructuring topics including schemes of arrangements and pre-packs' and is praised for its 'commerciality and ability to put together cutting-edge structuring on transactions to get very complicated things done'. Benefiting from particularly strong ties with pre-eminent hedge funds and special situations investors including GSO Capital Partners and York Capital, the team excels at complex cross-border mandates where it is also able to 'leverage a lot of exceptional talent throughout the firm's network of overseas offices'. For example, Pilkington and 'technically excellent' newly promoted partner Ben Davies worked alongside practitioners from the firm's New York office on behalf of an ad-hoc creditors group as noteholders under a $350m first lien secured note and as lenders under a $1.9bn term loan and revolving facility in relation to the $4bn restructuring of generic pharmaceuticals business Concordia. On the debtor front -  in a deal which showcases the team's emerging markets prowess, as well as its ability to tap into firmwide sector knowledge in relation to the aviation sector - Pilkington and Davies are also acting for Kenya Airways on its $2.2bn restructuring. Ian Wallace has a particular focus advising borrowers and creditors in the distressed shipping and oil & gas/offshore sectors; he recently represented several Nordic lenders (including Nordea Bank and Danske Bank) as creditors under a $250m term and revolving credit facility provided to troubled French geophysical company CGG. Laura Prater is also recommended. Other clients include Kaupthing Bank, Ashmore Group, Deutsche Bank Distressed Products Group and Goldman Sachs European Special Situations Group.

Leading individuals

Next generation lawyers

[back to top]

Debt capital markets

Debt capital markets - ranked: tier 1

White & Case LLP

The London capital markets practice at White & Case LLP has more than 60 lawyers covering debt, equity, high yield, structured finance and derivatives, around half of whom focus mainly on debt-related products. The firm not only has a leading role in emerging markets debt, but it is a prominent player in regulatory capital and liability management transactions, exchangeable and convertible bonds, and restructuring. The practice has partners highly skilled in both US and English law, and has a leading position in sovereign debt deals, having closed ten deals during 2017 including the Kingdom of Saudi Arabia's $12.5bn notes issue on behalf of arrangers and dealers including Goldman Sachs, HSBC, JPMorgan and Bank of China. US capital markets partner Ian Clark led that deal, and he also acted for Ukraine's Ministry of Finance on a $3bn issue. Global practice head Stuart Matty and key US securities law partner Melissa Butler are 'very user-friendly and have excellent technical knowledge of the products, and are good at giving no-nonsense advice'. Richard Pogrel , who 'gives a service that is personal and tailor-made', stands out for equity-linked and liability management transactions. Last year, he assisted global co-ordinator JPMorgan Securities with a combined £3.5bn in mandatorily exchangeable bond issuance by Volcan Holdings. Francis Fitzherbert-Brockholes, who is 'very accommodating to clients and very well aware of their interests', is dual-qualified in US and English law and he recently acted for Svenska Handelsbanken in the annual update of its $20bn US MTN programme and the subsequent issuance of $1.5bn in notes. US law counsel Doron Loewinger is also highly regarded. Michael Doran joined Baker McKenzie.

Leading individuals

[back to top]

Derivatives and structured products

Derivatives and structured products - ranked: tier 2

White & Case LLP

White & Case LLP has a diverse structured finance practice that includes securitisation, derivatives and CLOs. The firm's global network and presence in emerging markets makes it one of the leading practices in London for work on Islamic derivatives structures. Head of structured finance Ingrid York focuses mainly on derivatives and synthetic structured finance mandates, and her recent work includes for Crédit Agricole Corporate & Investment Bank on the issuance of a first-of-kind green capital note, which constituted a $3bn synthetic securitisation relating to the bank’s portfolio of project finance, asset finance and infrastructure loans. Associate Richard Blackburn has significant experience advising banks and corporations across a broad range of OTC derivatives and structured products, and he played a key role in that deal. For the same client, York also handled the derivatives elements of €830m in new funding for French SMEs through a synthetic securitisation under the European Investment Plan. She also assisted Wind Tre with the hedging of interest rate and cross-currency arrangements with 17 hedging banks in connection with its €7.3bn issuance of high yield senior secured notes. Another standout deal for the practice was its work for hedging banks on cross-currency swap and collateral arrangements in connection with the $850m issuance of notes by Banque Ouest Africaine de Developpement. Chris McGarry leads on securitisation, but frequently advises arrangers, issuers, sponsors and investors on CLOs. With newly promoted counsel Melanie Davies, he acted for placement agent JPMorgan Securities in the €358m Bluemountain Fuji EUR CLO II. David Barwise retired from the practice and Debashis Dey took over the key elements of his practice.

Leading individuals

[back to top]

Emerging markets

Emerging markets - ranked: tier 1

White & Case LLP

White & Case LLP has a strong focus on emerging markets, notably the CEE, CIS, Middle East and Africa, and has amassed decades of experience in finance and capital markets transactions. It is involved in some of the most complex projects, energy and natural resources transactions, handling groundbreaking project finance deals in a wide variety of emerging markets. In the oil and gas sector, for example, it handled the multibillion-dollar financing of the Tahrir petrochemical project in Egypt on behalf of sponsor Carbon Holdings, and acted for Ghana National Petroleum Corporation on a landmark LNG regasification project in Tema. Co-head of the firm’s global oil and gas practice Philip Stopford and bank finance specialist Christopher Czarnocki played central roles in those deals. Debt capital markets transactions are a key strand of the firm's work and US securities partner Ian Clark led a highlight deal from 2017 when he advised the Ukraine Ministry of Finance on a $3bn Eurobond offering and a tender offer for its existing notes. Francis Fitzherbert-Brockholes and Richard Pogrel, who are 'very accommodating to clients and well aware of their interests and requirements; they give advice that is personal and tailor-made', acted alongside Clark for the Ministry of Finance of Azerbaijan in a $3.2bn debt restructuring transaction. Also in the sovereign debt arena, global head of capital markets Stuart Matty and US-qualified Melissa Butler, who are leading lights in their field, advised Republic of Nigeria on establishing a GMTN programme and $4.5bn in subsequent issuance. Mark Castillo-Bernaus, who is the firm's new head of EMEA projects, is also a key partner in the emerging markets practice.

Leading individuals

[back to top]

High yield

High yield - ranked: tier 2

White & Case LLP

White & Case LLP 'provides an excellent service and the lawyers are always available, answering queries of the time of the day or night'. Its work includes high-profile European high yield deals and a strong flow of work from emerging markets. The US-qualified London team acts for investment banks and corporate issuers and its highlights from 2017 included advising Wind Tre on the €7.3bn offering of senior secured notes. Practice head Rob Matthews led that deal and is 'client-focused, solution-oriented and commercial; he has many years of experience as is able to advise on any issue'. Jill Concannon, who frequently acts for private equity sponsors, is 'an excellent lawyer, very client-focused'. She acted for Puma International Financing in a $600m Rule 144a/Regulation S issuance, and a tender offer for the company's existing notes. Also recommended are leveraged finance partner Paul Clews, restructuring and liability management specialist David Becker, and newly promoted partner James Greene who played a role in the Wind Tre and Puma deals.

Leading individuals

Next generation lawyers

[back to top]

Islamic finance

Islamic finance - ranked: tier 2

White & Case LLP

White & Case LLP attracts praise for its ‘excellent industry knowledge and acumen’.  Debashis Dey was appointed global head of Islamic finance in 2017, splitting his time between the London and Dubai offices. Recent highlights include representing J.P. Morgan, Citi and HSBC on the establishment of the Kingdom of Saudi Arabia's debut 144A/Reg S sukuk programme and $9bn sukuk issuance; and representing Saudi Aramco on the establishment of its first sukuk issuance programme of up to SAR37.5bn. Derivatives expert Ingrid York is also a key contact in the London office for shari'ah-compliant mandates, as is Tom Bartlett for project finance.

[back to top]

Securitisation

Securitisation - ranked: tier 2

White & Case LLP

White & Case LLP has a deep bench of structured finance and regulatory experts in both London and New York, who work together on key issues such as the regulatory requirements of the US and EU risk retention rules, the Volker Rule, MIFID II, AIFMD, the new EU Securitisation Regulation and the Investment Company Act. The practice in London frequently handles innovative cash and synthetic securitisations, alongside its work in established asset classes such as CLOs, RMBS, CMBS, non-performing loans and covered bonds. EMEA capital markets partner Chris McGarry, who advises arrangers, issuers, sponsors and investors on CLOs and securitisations, worked on deals in two new asset classes for the firm - energy levies and commodities. He acted for the Ministry of Finance of the Republic of Ghana as sponsor on a GHS10bn bond issuance programme backed by receipts from energy taxes. He also assisted Trafigura with a $470m commodities securitisation programme to finance its crude oil and refined metals inventories in twelve jurisdictions across Europe, the Middle East and Asia-Pacific. Head of structured finance Ingrid York, who is best known for her work in derivatives, acted for Crédit Agricole Corporate & Investment Bank in a $3bn synthetic securitisation relating to the bank's portfolio of project finance, asset finance and infrastructure loans, which were sold to Mariner Investment Group. She also advised Société Générale on the completion of its €33m credit-linked notes synthetic securitisation of a portfolio of revolver credit and capex facilities. Gavin McLean, who acts for arrangers and corporate issuers in securitisations, capital markets partner Debashis Dey, newly promoted counsel Melanie Davies, and associate James Jirtle are also recommended.

Leading individuals

[back to top]

Trade finance

Trade finance - ranked: tier 1

White & Case LLP

White & Case LLP has a four-partner team focused on trade finance, which works closely with the firm's project finance practice. Practice head Christopher Czarnocki has a stellar reputation in the trade finance market and is a key point of contact for global financial institutions, ECAs, multi-laterals and corporates. He recently acted for Ghana National Petroleum Corporation (GNPC) in a landmark LNG regasification project in Tema, Ghana. The deal involved a complex trading arrangement under which a global subsidiary of Gazprom will supply LNG and convert it into gas through the terminal at Tema before selling the converted natural gas to GNPC. Newly promoted banking partner James Hardy is a structured trade and commodity finance specialist who has more than ten years’ experience in advising lenders and borrowers on finance transactions in the commodities sector, predominantly in emerging markets. He plays a key role in the firm's work for Puma Energy and several of the world's leading commodity trading houses. Emerging markets specialist Jason Kerr acted for Nigerian National Petroleum Corporation (NNPC), Shell and Total in a $1bn financing for the development of oilfields under NNPC's oil debt programme. Tom Bartlett advises lenders and borrowers on trade finance transactions and reserve-based lending in sectors such as oil and gas, energy, mining, infrastructure, petrochemicals and telecoms.

Leading individuals

[back to top]

London: Human resources

Employee share schemes

Employee share schemes - ranked: tier 3

White & Case LLP

White & Case LLP's strength in the technology and financial services sectors 'remains strong' with a client base including RBS, Avast Software and UBS. Recent mandates include advising Brammer on the incentives aspects of its acquisition by Advent International, acting for the Smithfield Group on the incentive components of its sale of Innovia to CCL Industries and assisting Franklin Templeton Investments with its international share incentive plans. Department head Nicholas Greenacre is 'an excellent team member'; other key individuals include senior associate Helen Levendi, who is active in the private equity and technology spaces; and consultant Euan Fergusson.

[back to top]

Employment: employers and senior executives

Employment: employers and senior executives - ranked: tier 6

White & Case LLP

White & Case LLP 'stands out for its responsiveness, usability, quality and pragmatism of advice' in the technology and private equity sectors; clients include Ameriprise, Avast Software, Digital Realty and Smithfield Group. The group's recent work includes advising EP UK Investments on the employment elements of its acquisition of two combined cycle gas turbine power stations and a gas substation project, acting for Lightsource on the employment components of the sale of a stake in its business to BP, and handling the employment aspects of Accomable's sale to Airbnb. Nicholas Greenacre is the London and EMEA practice head, and Oliver Brettle is another key figure. Helen Levendi made partner in January 2019. Former practice co-head Stephen Ravenscroft joined Memery Crystal LLP in 2018.

[back to top]

London: Projects, energy and natural resources

Infrastructure (including PFI and PPP)

Infrastructure (including PFI and PPP) - ranked: tier 2

White & Case LLP

White & Case LLP 's infrastructure practice covers the full spectrum of work from front end project development issues to brown field transactions under the leadership of experienced project finance expert Caroline Miller Smith . In terms of new build projects, Philip Stopford and Carina Radford are part of the team overseeing Vale and Mitsui's development and financing of the Nacala Corridor railway and port project in Mozambique and Malawi. The firm was also appointed to represent the sponsors to the Izmir Bayrakli and Kocaeli integrated health campus PPP projects in Turkey, and private equity partner Caroline Sherrell advised newly-formed infrastructure fund on its acquisition of 45% interest in Welcome Break from ING and Challenger. Other notable clients include Allianz, First State, the European Investment Bank and Deutsche Bank. Mark Castillo-Bernaus heads the firm's EMEA energy, infrastructure, project and asset finance group and is also a key contact. Simon Caridia joined from Herbert Smith Freehills LLP.

Leading individuals

[back to top]

Mining and minerals

Mining and minerals - ranked: tier 1

White & Case LLP

The 'personable' lawyers at White & Case LLP 'are extremely capable, react quickly and have a deep understanding of the commercial drivers of a transaction'. A team led by Rebecca Campbell and corporate specialist Allan Taylor recently acted for Pallinghurst in its £211m hostile takeover offer for Gemfields, and Peter Finlay - who 'gets to the heart of a problem very quickly' - advised a group of lenders on the multi-million dollar financing of the Sangaredi bauxite mine expansion in the Republic of Guinea. Contentious highlights include Charles Balmain 's counsel to a global mine company with regards to a tax indemnity claim under its SPA for the purchase of a copper project in South America. Also notable is the IPO of Russian energy group EN+ which was complicated by sanctions imposed on a number of entities and individuals involved.

Leading individuals

[back to top]

Oil and gas

Oil and gas - ranked: tier 1

White & Case LLP

White & Case LLP 'provides an extremely high level of service' through 'fast responses, deep industry knowledge and very strong teams individually put together for every transaction'. The practice recently acted for Harbour Energy, a special investment vehicle established by EIG, in its agreement to lead the $3bn acquisition by Chrysoar of a portfolio of North Sea assets from Shell.  Philip Stopford led the advice to Carbon Holdings on all aspects of the proposed Tahrir petrochemical project in Egypt, and Saul Daniel is currently assisting Saudi Aramco in its potential joint venture with Pertamina to expand and develop the latter's refinery in Indonesia. Also notable are Jason Kerr , Mark Clarke - who heads the EMEA oil and gas disputes practice - and the 'well-prepared' Mark Castillo-Bernaus who 'fights hard for the right result'. Along with the opening of a Houston office, the practice also bolstered its offering with the promotion to partner of Kamilla Azamat . David Baker has 23 years of experience of the oil and gas sector.

Leading individuals

[back to top]

Power (including electricity and renewables)

Power (including electricity and renewables) - ranked: tier 2

White & Case LLP

White & Case LLP 's energy practice recently saw the promotion to partner of Kamilla Azamat and Meredith Campanale 's promotion to counsel. On the project development side, Philip Stopford and Kirsti Massie are currently acting as counsel to the project company and Al Nowais as sponsor with regards to a 2.640 MW coal-fired power plant in Egypt's Ayoun Moussa area, and Caroline Miller Smith and Ellis Baker are advising Star Capital and Eurotunnel on their proposed power 75km-long interconnector project between the UK and France. The team is also representing a contractor in the negotiation of its EPC contract for the construction of a new nuclear plant in Eastern Europe. In terms of brown field M&A, John Cunningham was part of the team which assisted the UK subsidiary of an international energy group with its acquisition of two combined cycle gas turbine stations from a leading energy company. Mark Castillo-Bernaus co-heads the London power offering with global head Massie and recently oversaw the granting of a project finance facility for the development of an independent power plant with Jason Kerr and counsel Chris Duncan . Other notable clients include HSBC, Enerjisa and Acergy.

Leading individuals

[back to top]

London: Real estate

Commercial property

Commercial property: investment - ranked: tier 2

White & Case LLP

White & Case LLP provides ‘pragmatic and commercial advice’ to real estate investors and financial institutions in high-value investment and property finance transactions. Headed by James Dodsworth, the team is active in the retail sector, where it acts for clients such as Harrods, and is regularly involved in large investment transactions involving shopping centre and retail park assets. In one example, David Cox advised Cerberus Capital Management on its acquisition of a portfolio of five Finnish shopping centres with a purchase option for a development site. The department also has expertise in property transactions involving data and logistics centres, where it is instructed by clients including IO Data Centres, and recently completed a sale and leaseback transaction involving core UK data centres of a global investment bank. Additionally, property finance specialist Victoria Landsbert advised Piper Jaffrey on the letting of a Mayfair premises to Sciens Capital. James Johnson was promoted to partner in 2018.

Leading individuals

[back to top]

Construction

Construction (contentious) - ranked: tier 1

White & Case LLP

Contruction (non-contentious) - ranked: tier 2

White & Case LLP

White & Case LLP's construction team is ‘extremely hardworking, highly motivated and a group of first-class lawyers’, with significant expertise in international disputes. Ellis Baker is ‘hugely experienced at both front end and contentious work’ and a ‘leading expert on the FIDIC suite of contract’. Recently made up, Rebecca Shorter is ‘a very conscientious new partner who drafts well and is unflappable under pressure.’ Mark Goodrich is ‘incredibly tenacious’ and an ‘excellent cross examination lawyer’, and Julian Bailey has ‘an encyclopaedic knowledge of construction law as it applies in the UK, the Middle East and Australia.’ Recent work includes representing Grupo Unidos por el Canal and its shareholders in a dispute with the Panama Canal Authority relating to the US$5.5bn Panama Canal expansion project. On the non-contentious side, Philip Stopford and Kirsti Massie have been advising Egyptian Electricity Holding Company and Al Nowais Investments LLC on the construction of a 2,640 MW coal-fired power generation plant in Ayoun Moussa, Egypt, including the procurement process and drafting the EPC term sheet. Daniel Garton has been advising the FAST Consortium on their mandate from the Riyadh Development Authority to design, develop and construct various lines of the Riyadh Metro project, worth US$8 billion. Associate David Inns is also recommended. Other clients include Samsung, Carbon Holdings, and EMCOR Engineering Services Limited.

Leading individuals

[back to top]

Environment

Environment - ranked: tier 5

White & Case LLP

White & Case LLP specialises in major international infrastructure projects. Tallat Hussain advised a group of Chilean and Japanese banks on a $1bn project to connect Chile’s two main transmission systems and create a unified power grid, involving sensitive environmental considerations given the location of the transmission lines. Hussain also represented Vale and Mitsui & Co on the development and $2.73bn financing of the landmark Nacala Corridor Railway and Port Project, an infrastructure project supporting growth along a regional corridor between Mozambique and Malawi. Mark Castillo-Bernaus is practice head.

[back to top]

Property finance

Property finance - ranked: tier 3

White & Case LLP

Multi-jurisdictional matters are a particular strength of the team at White & Case LLP, which is led by the 'incisive and capable' Jeffrey Rubinoff and David Cox, who is 'authoritative, commercial and a good negotiator'. Highlights included Rubinoff and Victoria Landsbert (who is 'thorough, responsive and easy to work with') acting for Bank of China alongside lawyers from the firm's offices around the world on the €6.8bn syndicated financing to a sovereign Wealth Fund in connection with the acquisition of Logicor - the largest transaction in the European real estate market in 2017. Cox also acted for Cerberus Capital Management on the acquisition of a real estate portfolio of five shopping centres in Finland from Citycon Oyj, a Finnish listed company. The team also specialises in NPL transactions, including advising Morgan Stanley on the €200m refinancing of an Irish NPL portfolio acquired by Cerberus in 2015. Key clients include Bank of America Merrill Lynch, BAWAG, Nomura, JP Morgan and Bank Hapoalim.

Leading individuals

[back to top]

London: Risk advisory

Regulatory investigations and corporate crime

Regulatory investigations and corporate crime - ranked: tier 2

White & Case LLP

White & Case LLP advises large multinational clients on SFO, FCA, HMRC, NCA and police investigations in relation to allegations of tax evasion, sanctions busting, money laundering, insider dealing, fraud, false accounting and financial services offences. It has experience of conducting global defence strategies in multiple jurisdictions. The ‘very competent and friendly team’ is led by Jonathan Pickworth who 'knows the law inside out and brings to bear his considerable expertise on matters he is involved in’. Joanna Dimmock was promoted to partner and Lydia Jonson joined the team as a professional support lawyer.

[back to top]

London: Transport

Rail

Rail - ranked: tier 3

White & Case LLP

White & Case LLP regularly involved in the procurement and development of rail infrastructure projects, and is also experienced in matters such as the supply of rolling stock, concessions and franchising, M&A, regulatory matters and dispute resolution in the sector. It is regularly instructed in international projects and the team is advising the FAST Consortium on the design, development and construction of various lines of the Riyadh Metro project. It also advised Vale and Mitsui & Co on the development and financing of the Nacala Corridor Railway and Port Project. Among the multidisciplinary offering; Phillip Capper handles rail sector disputes; Ellis Baker heads the construction and engineering team; Caroline Miller Smith is experienced in concession and project finance matters; and Daniel Garton is also noted. Mark Castillo-Bernaus heads the team. Louise Mor has joined Watson Farley & Williams LLP .

[back to top]