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Clifford Chance

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Banking and finance
Banking and finance - ranked: tier 3

Clifford Chance

As a key name for cross-border finance transactions, Clifford Chance's recent work includes acting for the arrangers on PAI Partners' acquisition and refinance of Froneri, advising the lenders and USPP investors on the refinancing of the Eastlink toll road project by constructors ConnectEast, and assisting Latitude Financial Services with the first master trust securitisation transaction in the Australian market. Group head Richard Gordon specialises in financing transactions including leveraged acquisitions, project and infrastructure transactions and restructurings; counsel Alastair Gourlay is also a name to note for acquisition finance, corporate lending, real estate finance and financing by alternative capital providers. Caroline Jury joined Morrison & Foerster LLP's London office in 2018.

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Competition and trade
Competition and trade - ranked: tier 3

Clifford Chance

Clifford Chance's team is led by Dave Poddar, who counts ‘among the leading competition lawyers in Australia’ and his ‘knowledge of the law is second to none’. The practice ‘continually provides an outstanding service and is always very responsive’. Poddar assisted Glencore with successfully convincing the Australian Competition Tribunal to declare the port of Newcastle as under the National Access Regime, resulting in the ACCC's ability to regulate prices and terms of access. A notable highlight was the team's clearance advice to General Electric for the merger of its oil and gas business with Baker Hughes. Senior associate Mark Grime has ‘an excellent regulatory background and knows how to best position the client’ and instructing Elizabeth Hersey is a ‘huge advantage in any lengthy competition matter’. Alice Bradshaw joined from Arnold Bloch Leibler.

Leading individuals

Dave Poddar - Clifford Chance

Next Generation Partners

Mark Grime - Clifford Chance

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Corporate and M&A
Corporate and M&A - ranked: tier 4

Clifford Chance

Clifford Chance’s team has a focus on handling cross-border work out of its Sydney and Perth offices. It maintains a busy private equity practice; Andrew Crook, who joined from Hogan Lovells, led advice to Carlyle Group on its acquisition of Accolade Wines Australia from CHAMP Private Equity and Constellation Brands. Jointly with the firm’s Beijing office, Lance Sacks acted for the consortium of China Jianyin Investment, JIC Huawen Investment and Tamar Alliance Capital on the acquisition of a majority stake in Australian vitamins and supplements business Nature’s Care. Sacks also assisted William Hill with the auction sale of its Australian bookmaking business to Australian gaming and entertainment group CrownBet. Mantra Group instructed the team on its sale to Accor Hotels, a transaction that creates the largest hotel group in Australasia. The team also features key partners Richard Graham and Tracey Renshaw.

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Dispute resolution
Dispute resolution - ranked: tier 2

Clifford Chance

Clifford Chance's ‘diligent and commercially astute’ practice is noted for its international capabilities and the team, led by Perth-based Ben Luscombe, has grown significantly at senior associate and associate level. Luscombe continues to represent an energy-sector client in an arbitration relating to a contractual dispute. ‘Superb, motivated and hardworking’ commercial litigator Angela Pearsall has a strong financial sector client base. Sam Luttrell has ‘excellent technical knowledge, particularly in investor-state arbitration’. Jenni Hill is singled out in Perth, as is Tim Grave in Sydney. Diana Chang retired from the partnership and is now a consultant to the firm.

Leading individuals

Angela Pearsall - Clifford Chance

Ben Luscombe - Clifford Chance

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Dispute resolution: class actions
Dispute resolution: class actions - ranked: tier 4

Clifford Chance

At Clifford Chance, Angela Pearsall, Diana Chang and Tim Grave are the key names to note for class action expertise with Pearsall recently defending Deloitte in shareholder claims arising from the collapse of Hastie Group, and Grave working with Chang to represent S&P Global and related entities in multiple Federal Court class actions relating to ratings assigned by Standard & Poor's to various SCDOs. The group also acted for Deloitte in proceedings arising from the collapse of the Dick Smith Group.

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Energy (transactions and regulatory)
Energy (transactions and regulatory) - ranked: tier 3

Clifford Chance

Clifford Chance capitalises on its network and regularly acts for international oil and gas companies, as well as domestic Australian utilities and power companies. It advised Royal Dutch Shell on the multibillion-dollar sale of its interest in Woodside, and, in a notable renewables transaction, assisted Global Infrastructure Partners with its $5bn acquisition of Equis Energy’s renewable power assets in Australia, India, Indonesia, Japan, the Philippines, Thailand and Taiwan. Practice head Paul Lingard is set to join Norton Rose Fulbright in late 2018, a significant loss for the team. However, Ben Luscombe, who ‘provides succinct, commercially sensible advice even when considering technically complex legal questions’; Asia-Pacific renewable power head Philip Sealey; and co-head of the firm’s global oil & gas group Tracey Renshaw all come in for praise. The team has also been bolstered at the senior associate level.

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Natural resources (transactions and regulatory)
Natural resources (transactions and regulatory) - ranked: tier 4

Clifford Chance

Clifford Chance has seen the departure of practice head and global co-head of mining and metals, Paul Lingard, to Norton Rose Fulbright, but the team has grown significantly on junior level and has been attracting an interesting spread of work, such as Ben Luscombe’s advice to Rio Tinto on a cross-border regulatory investigation related to Rio Tinto Coal Mozambique. A multi-jurisdictional team assisted EVRAZ with its $354m sale of the entire issued share capital of subsidiary EVRAZ Nakhodka Trade Sea Port. Counsel Jessica Davies is also recommended.

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Project finance
Project finance - ranked: tier 3

Clifford Chance

Clifford Chance’s two-partner team, led by Richard Gordon, has a strong international focus and regularly attracts cross-border work for a range of clients including export credit agencies, development finance institutions and commercial lenders. It acted for the sponsors on the development of the Formosa offshore wind farm development in Taiwan, the first of its kind in Asia, and advised the lenders on the project financing for the Tailem Bend solar farm in South Australia. A particular highlight is the team’s continued advice to JBIC, K-EXIM and other lenders in relation to the financing of a coal-fired power plant project in Vietnam. Philip Sealey heads the Asia Pacific renewables practice and has a focus on project financings in the sector.

Leading individuals

Richard Gordon - Clifford Chance

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Further information on Clifford Chance

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Asia Pacific: Regional International Arbitration


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South Korea

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Saudi Arabia

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United States

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Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • CommuniquĂ© on Equity Crowdfunding Is Officially Published

    By way of background, in January 2019, the Capital Markets Board (“ CMB ”) had issued an announcement on its website on the Draft CommuniquĂ© on Equity Crowdfunding [1] . The CMB has now officially published the CommuniquĂ© on Crowdfunding No. III-35/A (“ CommuniquĂ© ”), on October 3, 2019. The CommuniquĂ© entered into force as of October 3, 2019.
  • Beneficial Ownership Concept new interpretation from the Russian federal tax service

    The recent interpretative letter issued by the Russian Federal Tax Services (“FTS”) on 08th August 2019, has provided further guidance as to the application of the Beneficial Ownership Concept, further to the letter initially provided on the 12th of April 2018 which adopted a strict approach of the concept. 
  • Cyprus and Netherlands Double Tax Treaty Update

    Cyprus has concluded the negotiations for the avoidance of double taxation with the Netherlands. The double tax treaty was agreed at technocratic level in Hague. It is expected to be signed by the end of 2019 or early in 2020.
  • Vacancy - Senior Corporate Lawyer

    The Senior Corporate Lawyer, who will be reporting to Partners, will be working with both the firm’s legal team as well as the financial services team. The successful candidate will be requested to show initiative, take on certain responsibilities within the firm, work in a multinational environment and will immediately be given the opportunity to further advance their career within the law firm.

    The judgment of the Court of Justice of the European Union (CJEU) on February 26, 2019, in the “Danish Beneficial Ownership Cases”, can be perceived as a landmark on the interpretation of the Beneficial Ownership concept under the Interest and Royalties Directive (IRD) and the Parent-Subsidiary Directive (PSD).
  • Court of Justice rules on source of income for Derivative Residence applications

    On 2 October 2019, the Court of Justice delivered its judgment in Bajratari v Secretary of State for the Home Department (Directive 2004/38/EC) Case C-93/18 which concerns Chen applications and the source of funds for self-sufficiency. 
  • End of the ‘centre of life test’ in Surinder Singh cases?

    In the recent case of  ZA (Reg 9. EEA Regs; abuse of rights) Afghanistan   [2019] UKUT 281 (IAC ), the Upper Tribunal found that there is no basis in EU law for the centre of life test, as set out in Regulation 9(3)(a) of the Immigration (European Economic Area) Regulations 2016 (the “Regulations”). It further found that it is not to be applied when Judges assess  Surinder Singh  cases that appear before them.

    Italian rules on jointventures concerning public procurement and concession contracts are set out inlight of the European legal framework provided for in Directive 2014/23/EU and 2014/24/EU of the European Parliament and of the Council. The European rules aim to ensurethe best use of public money so that EU citizens benefit from strategicinvestments and services at fair prices. In this context, public procurementand concessions represent key instruments that need to be regulated and standardisedin order to ensure free movement of goods, freedom of establishment and freedomto provide services.
  • Terms of employment as a sole representative

    In this article we examine the working arrangements of sole representatives, looking at the terms and conditions of employment that the Home Office will expect a sole representative to have in order to qualify as a representative of an overseas business.  
  • Can Sole Representatives Be Shareholders?

    The Immigration Rules require that an applicant for a  sole representative visa  is not “a  majority shareholder in the overseas business”.