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Allen & Overy LLP

Living Wage
ONE BISHOPS SQUARE, LONDON, E1 6AD, ENGLAND
Tel:
Work 020 3088 0000
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Fax 020 3088 0088
Email:
Web:
www.allenovery.com
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Top-tier Firm rankings

Firm Rankings


London: Corporate and commercial

Commercial contracts
Commercial contracts - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP, which is equally strong acting for suppliers and customers, delivers the full spectrum of advice on challenging multijurisdictional commercial arrangements. Its varied workload includes outsourcing transactions, joint venture agreements, marketing agreements and software licensing. Its team has a wealth of experience of standalone projects, and also plays a key support role in corporate transactions. In 2017, Nigel Parker was the lead adviser to Computer Sciences Corporation (CSC) on the commercial contracts, IT and outsourcing aspects of its $11bn merger with Hewlett Packard Enterprise Company's Enterprise Services segment. In the insurance sector, Parker, Jane Finlayson-Brown and senior associate Karishma Brahmbhatt advised Allianz SE on the separation and transitional services aspects of its £1bn retail insurance joint venture with Liverpool Victoria Friendly Society Limited. Jim Ford acted for Circassia Pharmaceuticals in its $230m strategic collaboration with AstraZeneca to develop and commercialise two respiratory medicines, Tudorza and Duaklir. Worldpay, Imperial Brands and Old Mutual Wealth are among other clients. Tom Levine, who is global head of the firm's telecommunications practice, is another key figure in the team. Senior associates Andrew Kenning and Alex Shandro are also recommended.

Next generation lawyers

Nigel Parker - Allen & Overy LLP

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Corporate tax
Corporate tax - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP's corporate tax group draws on the firm's wider strength in structured finance and funds work, private equity and international M&A to advise a range of major clients on their UK tax affairs. The group is co-led by¬†Christopher Harrison¬†and 'outstanding tax lawyer'¬†Vimal Tilakapala, who (in addition to deal-driven tax work) regularly advises large corporates, including Pennon Group, RSA and Direct Line, on¬† hybrid bond issues. Alongside counsel¬†Tim Harrop, Harrison advised Allianz on its ¬£1.7bn acquisition of a stake in LV='s general insurance business and the subsequent creation of a joint venture structure. The duo also advised 21st Century Fox on the cross-border acquisition structure of its ¬£11.7bn takeover bid for Sky. Highlights for¬†Lydia Challen¬†included assisting Asahi Group Holdings with tax issues related to its¬†‚ā¨7.3bn acquisition of the former SABMiller businesses in central Europe from AB InBev. 'Technically very able and always alive to the commercial realities of an instruction',¬†Charles Yorke¬†advised Blackstone in a joint venture with Goldman Sachs which acquired a ¬£12.5bn portfolio of mortgages from the British government.

Leading individuals

Christopher Harrison - Allen & Overy LLP

Vimal Tilakapala - Allen & Overy LLP

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EU and competition
EU and competition - ranked: tier 2

Allen & Overy

The ‚Äėoutstanding‚Äô team at¬†Allen & Overy¬†stands out for its ‚Äėresponsiveness, accuracy of advice and pragmatic‚Äô approach, as well as its ability to 'work superbly with other advisers' and its 'concise, easily digestible advice‚Äô. Recent highlights include global co-head of antitrust and ‚Äėsuperstar and leading authority on telecoms-related antitrust issues‚Äô Antonio Bavasso¬†advising longstanding client 21st Century Fox on its extensive merger control and associated regulatory issues connected with its ¬£11.7bn takeover bid for Sky, which includes acting for the client in its ongoing phase 2 public interest review and representing it in a judicial review brought by activist group Avaaz. The team is also advising the same client on all antitrust and regulatory matters relating to non-US jurisdictions pertaining to its proposed $52.4bn acquisition by The Walt Disney Company. Mark Friend, whose¬†‚Äėenormous experience means that he delivers sound advice in context‚Äô, heads the firm‚Äôs London antitrust group; he recently assisted Total with the merger control aspects of the client's acquisition of the upstream LNG assets of Engie. Alastair Balfour¬†successfully secured a phase 1 clearance for Allianz in respect of its entry into a joint venture arrangement with the Liverpool Victoria Friendly Society. Dominic Long¬†was promoted to partner in May 2017 and is noted for his standout work on non-defence sector public interest interventions. ‚ÄėTop-notch' senior associate¬†Ross Ferguson¬†is ‚Äėextremely, helpful, efficient and nice to work with‚Äô.

Leading individuals

Antonio Bavasso - Allen & Overy

Mark Friend - Allen & Overy

Philip Mansfield - Allen & Overy

Next generation lawyers

Dominic Long - Allen & Overy

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Equity capital markets
Equity capital markets - ranked: tier 1

Allen & Overy LLP

Bolstered by excellent leveraged finance and US securities expertise, the team at Allen & Overy LLP¬†regularly acts for several of the largest issuers and underwriters in the market on a variety of mandates.¬†James Roe¬†and corporate finance expert¬†Adam Wells¬†acted for the Irish government as major shareholder on Allied Irish Banks' ‚ā¨3bn IPO on the Irish Stock Exchange (ISE) and the London Stock Exchange (LSE).¬†The team has excellent multi-jurisdictional capabilities: Wells, who heads the practice jointly with¬†David Broadley, acted for Neinor Homes and Lone Star Real Estate Fund on the former's IPO on the Madrid, Barcelona, Bilbao and Valencia stock exchanges, valuing it at ‚ā¨1.3bn. Underwriter clients include Goldman Sachs, UBS, Deutsche Bank and Bank of America Merrill Lynch.

Leading individuals

Adam Wells - Allen & Overy LLP

James Roe - Allen & Overy LLP

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Financial services
Financial services (non-contentious/ regulatory) - ranked: tier 2

Allen & Overy LLP

Financial services contentious - ranked: tier 1

Allen & Overy LLP

Praised for its 'strong technical knowledge of the subject area', Allen & Overy LLP provides 'pragmatic advice' to a broad-ranging client base (including investment and retail banks, asset management firms and trade bodies) across the gamut of advisory, transactional-related regulatory, and contentious matters.  Team head Damian Carolan is best known for his derivatives and securities regulation expertise, as well as on the development of new markets and clearing settlement systems. In addition to providing regulatory advice in relation to financial services M&A, Etay Katz also acts for financial services entities and trade bodies across a host of regulatory issues including matters impacting on the wholesale and retail banking sectors, as well as market infrastructure entities. Katz is acting for Bacs on structural reform solutions to adapt to the substantial documentation and operational changes resulting from retail banking structural reform (ring-fencing) requirements. The team is rounded out on the non-contentious front by Kate Sumpter and Nick Bradbury, who have been busy advising HSBC in relation to the ring-fencing of its banking operations. On the contentious front, the 'very responsive and knowledgeable' Calum Burnett is praised for his 'pragmatic and commercial advice' to prominent financial services entities engaged in domestic and multi-jurisdictional enforcement actions and investigations. Arnondo Chakrabarti is also recommended for handling disputes work and adds value to clients as a result of his ability to handle not only the civil aspects of an enforcement action but also in relation to any criminal liability which may arise. Tim House and Mahmood Lone have been particularly active in relation to benchmark litigation including their defence of a major bank which has been the subject of a co-ordinated global regulatory investigation/enforcement action into its alleged role in foreign exchange (FX) manipulation.

Leading individuals

Calum Burnett - Allen & Overy LLP

Next generation lawyers

Kate Sumpter - Allen & Overy LLP

Mahmood Lone - Allen & Overy LLP

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

Allen & Overy LLP

The team at¬†Allen & Overy LLP¬†attracts praise for its ‚Äėreal clarity of thought‚Äô and ability to ‚Äėwork superbly with other advisers and deliver concise, easily digestible advice‚Äô.¬†Dominic Morris¬†heads the practice, which counts TMT, energy, financial services and consumer goods as key sectors of expertise. The team is acting for 21st Century Fox on its proposed acquisition by The Walt Disney Company and its proposed ¬£11.7bn acquisition of the 61% stake that it does not already own in BSkyB.¬†David Broadley¬†(‚Äėalways one step ahead of his clients and ahead of the pack‚Äô),¬†Simon Toms¬†(‚Äėquick-thinking‚Äô and ‚Äėcommercial‚Äô) and¬†Seth Jones¬†have between them co-ordinated the management of these transactions, with senior associate¬†Alex Tilley¬†heavily involved with the BSkyB deal. In another standout matter, Jones and¬†Duncan Bellamy¬†acted for Worldpay Group on its merger with Vantiv to create a global payments powerhouse.¬†Richard Hough¬†has been advising Deutsche Bank on two significant disposals, namely the sale of its global corporate services business to Vistra Group and the sale of its Global Trust Solutions business to The Bank of N.T. Butterfield & Son. The ‚Äėexceptionally bright and proactive‚Äô¬†George Knighton¬†is ‚Äėtechnically outstanding‚Äô and ‚Äėgoes the extra mile and more‚Äô; he recently advised EG Group on its entry into an agreement to acquire the convenience store business unit from The Kroger Co. Other clients of the practice include Aviva, Royal Dutch Shell, WPP and Thomson Reuters. Also recommended are the ‚Äėvery personable, efficient‚Äô¬†Daniel Fletcher¬†,¬†Gillian Holgate¬†and¬†Annabelle Croker¬†.

Leading individuals

David Broadley - Allen & Overy LLP

Richard Hough - Allen & Overy LLP

Next generation lawyers

Simon Toms - Allen & Overy LLP

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Private equity: transactions
Private equity: transactions ‚Äď high-value deals - ranked: tier 3

Allen & Overy LLP

Allen & Overy LLP fields 'very agile thinkers' whose 'highly-rated technical knowledge is coupled with commercial advice'. Its international reach and strong deal execution capabilities provide a platform for the team to handle complex, big-ticket transactions for clients such as The Carlyle Group, PAI Partners and Advent International. In 2017, global private equity co-head Stephen Lloyd, Karan Dinamani and others acted for Apax Partners in its circa £700m acquisition of Safetykleen Europe from Warburg Pincus and existing management. In another matter, Gordon Milne and Dinamani are part of the team, which is advising Exponent on its proposed £400m acquisition of The CEB Talent Assessment Business from Gartner. Another highlight saw Milne and Peter Banks (who was promoted to partner in 2017) assist the same client with its acquisition of the European and Australian operations of The Scotts Miracle-Gro Company. Another notable individual is 'smart thinker and negotiator' George Knighton.

Leading individuals

Stephen Lloyd - Allen & Overy LLP

Next generation lawyers

Karan Dinamani - Allen & Overy LLP

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London: Crime, fraud and licensing

Fraud: civil
Fraud: civil - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP¬†has ‚Äėa strong team of smart, hardworking lawyers and is able to push disputes forward in multiple directions at once‚Äô. It is adept at handling multi-jurisdictional cases involving freezing injunctions and disclosure orders, and search and seizure orders. The firm represented Kazakhstan Kagazy in a ¬£200m fraud case and also represented a major international hedge fund in relation to the theft of confidential information and trading strategies by a former employee in a case worth over ¬£31m. Head of team Mona Vaswani¬†has ‚Äėhas an instinct for making the right move at the right time and is always one step ahead of her opponents‚Äô. Senior associate Juliet de Pencier¬†is ‚Äėvery able indeed‚Äô and ‚Äėis always in command of the materials, and a key member of any team in which she is involved‚Äô. Senior associate Helen Biggin¬†is also recommended.

Leading individuals

Mona Vaswani - Allen & Overy LLP

Next generation lawyers

Helen Biggin - Allen & Overy LLP

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London: Dispute resolution

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

Allen & Overy LLP

Regularly instructed by leading global financial institutions on their most important and complex matters, Allen & Overy LLP¬†is 'among the very best banking litigation practices'. The team advises on the full range of issues affecting clients in the financial sector, ranging from major regulatory investigations to high-profile disputes. Calum Burnett¬† and Mona Vaswani¬†¬†co-heads the banking, finance and regulatory litigation practice. In one of the most significant actions brought by parties seeking to avoid obligations, in relation to contracts referencing interest rate benchmarks, by raising allegations of implied misrepresentation and IBOR manipulation, Andrew Denny¬†led advice to HSH Nordbank, Bayerische Landesbank, ING Bank and Caixa D‚ÄôEstalvis, (the second to fifth defendants) on a ‚ā¨800m dispute arising out of the ¬£1.5bn purchase of Santander‚Äôs global headquarters in 2008. Denny¬†'has a¬†fine track record for high-quality, complex investment banking disputes, is always on top of the issues in a case and gives his all for his clients'. In other highlights,¬†Arnondo Chakrabarti¬†defended Credit Suisse, successfully defending a mis-selling claim by an investment fund relating to structured notes, which raised important questions of broad application for capital markets lawyers on the duties owed to a party who has an economic interest in certain types of bond instrument and the impact of foreign law on those obligations. Marc Florent¬†specialises in all contentious aspects of structured finance (particularly derivatives disputes) and insolvency;¬†Mahmood Lone¬†and¬†James Partridge¬†are also highly rated,¬†as is counsel Oliver Rule;¬†John O‚ÄôConor retired from the practice.

Leading individuals

Andrew Denny - Allen & Overy LLP

Calum Burnett - Allen & Overy LLP

Marc Florent - Allen & Overy LLP

Next generation lawyers

Mahmood Lone - Allen & Overy LLP

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Commercial litigation
Commercial litigation - ranked: tier 1

Allen & Overy LLP

'Unquestionably one of the leading litigation practices', Allen & Overy LLP's 'highly efficient, thorough and extremely professional practice' acts for a raft of blue-chip clients across a wide range of business sectors. It has a long track record of acting in challenging and business-critical litigation, often with multiple cross-border elements, and takes a large number of cases to the highest courts. Illustrative of the type of matters on which major corporates instruct the practice, it successfully acted for Airbus in cross-border, complex litigation that included injunctions and strike-out applications in England and India; the claims arose out of the financial difficulties experienced by India's Kingfisher Airlines, which caused it to cancel orders for 82 Airbus jets and led to a consortium of Indian banks attempting to recover amounts paid to Airbus. In other highlights, the team acted for the European Union and the European Investment Bank in major multi-jurisdictional litigation concerning the recovery of significant sums owed to them by the Syrian Arab Republic. Commercial and corporate litigation group head Lawson Caisley's experience includes fraud and white collar crime, cyber security breaches and fund management disputes. James Partridge is 'an excellent litigator, who sees all the angles and gives excellent strategic advice, and is great to work with'. Joanna Page is 'always focused on securing the best possible outcome'. Jonathan Hitchin's practice includes matters arising from the acquisition and disposal of businesses and companies, joint venture failures, insolvency issues and fraud claims. Other highly rated practitioners include Alice Englehart and Richard Farnhill.

Leading individuals

James Partridge - Allen & Overy LLP

Jonathan Hitchin - Allen & Overy LLP

Lawson Caisley - Allen & Overy LLP

Next generation lawyers

Helen Biggin - Allen & Overy LLP

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Competition litigation
Competition litigation - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP's 'strong' competition litigation team utilises the its cross-sectoral expertise (which spans litigation, IP and financial services) predominantly to advise clients on the defence of claims. It has a particular specialism in anti-trust litigation. Alasdair Balfour and 'tough and pragmatic' Jonathan Hitchin are advising 441 Trust Company - a trust company representing 441 European banks - in proceedings, currently at appeal, brought against Visa by several UK retailers in relation to interchange fees. In another highlight, Dominic Long defended Huawei against claims brought by Conversant Wireless for a declaration by the UK Courts that it had offered fair, reasonable and non-discriminatory (FRAND) terms in respect of its standard essential patents (SEP) portfolio in the first case of its kind; Nicola Dagg is advising on the FRAND aspects of the case. 'Highly rated in this field', global co-head of antitrust Antonio Bavasso represented 21st Century Fox in a judicial review of Ofcom's fit and proper decision pertaining to its acquisition of Sky and continues to advise the client in relation to the on-going phase 2 public interest review connected to the deal. 'Sensible strategist' Mark Friend leads the London antitrust group and is a veteran of the competition space.

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International arbitration
International arbitration - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP 'conveys a real sense of being a team rather than a collection of individuals'. The practice stands out for its work on energy banking and finance, insurance and infrastructure projects-related arbitrations. It continued to act for South Stream Transport, a Netherlands-incorporated subsidiary of Russian energy giant, Gazprom, in its dispute with Saipem, an Italian oil and gas industry contractor; the dispute relates to a now-cancelled high-value pipeline project to transport gas from Russia to various European countries. Richard Smith heads the firm's London international arbitration practice; Mark Levy is 'doing great things in the energy field'; Kate Davies has extensive expertise in both international commercial and investment treaty arbitration; and the recently promoted James Freeman 'has excellent arbitration knowledge and good general commercial sense'. Lauren Lindsay, Naomi Briercliffe and Guled Yusuf are key senior associates. Jeffrey Sullivan left for Gibson, Dunn & Crutcher LLP.

Leading individuals

Richard Smith - Allen & Overy LLP

Next generation lawyers

Kate Davies - Allen & Overy LLP

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Public international law
Public international law - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP's'very responsive, creative team has great depth and is very thorough'. The practice regularly resolves disputes that arise out of bilateral and multilateral investment treaties; and it stands out for Energy Charter Treaty (ECT) disputes. The team also recently advised on international trade and WTO issues as well as international human rights issues, sanctions, and Brexit-related issues. The practice currently acts for over 30 international investors in ten different claims under the ECT against the Kingdom of Spain, which relate to their investments in renewable energy plants in Spain. Other highlights include advising European bank UniCredit in an investment treaty claim at ICSID against Croatia; this matter related to legislation passed by Croatia that allowed borrowers to unilaterally convert Swiss Franc-denominated loans into Euro loans at historic exchange rates. Mark Levy'has a great presence and manner in formal courtroom settings'; his practice covers both commercial arbitrations and investment treaty cases, where he represents sovereign state and corporate clients. Other highly rated advisers are Kate Davies, who regularly appears as advocate in her cases and whose recent work includes acting in a large-value investment treaty claim, and recently promoted  James Freeman. The key senior associates are Naomi Briercliffe , who 'possesses high intellectual rigour and excellent client management skills', and Guled Yusuf. Former PIL practice head Jeffrey Sullivan left for Gibson, Dunn & Crutcher LLP.

Leading individuals

Mark Levy - Allen & Overy LLP

Next generation lawyers

Kate Davies - Allen & Overy LLP

Naomi Briercliffe - Allen & Overy LLP

Suzanne Spears - Allen & Overy LLP

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

Allen & Overy LLP

Allen & Overy LLP's 'strong contentious tax offering' provides pre-litigation advice, handles negotiations and settlements with HMRC, and acts in administrative proceedings and tax litigation. Building on the firm's pedigree in the financial sector, the group is often counsel for tax matters involving banks and financial institutions. Indeed, 'technically very able' Charles Yorke is acting for Investec Bank in relation to an ongoing dispute with HMRC about whether the client's purchase of partnership interests and further contributions to the partnership constituted income, capital expenditure or whether costs were incurred for trading purposes. Vimal Tilakapala and Christopher Harrison co-head the team. Recent highlights for Harrison included successfully representing Lloyds Banking Group in dispute with HMRC regarding the correct VAT treatment of payments made towards redundancy costs. Lydia Challen is another name to note.

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 1

Allen & Overy LLP

Housing a large team of banking practitioners in London and also able to tap into its extensive network of international offices,¬†Allen & Overy LLP¬†has the critical mass and geographical coverage to effectively provide a one-stop shop service to a balanced roster of lenders and borrowers on cross-border deals across the full spectrum of the capital structure. Leveraged finance head¬†Jonathan Brownson¬†recently advised the¬†lead arrangers and underwriters on the¬†‚ā¨2.95bn first lien loan facilities provided to Hellman & Friedman to facilitate its take private acquisition of Nets. Brownson also acted for¬†the lead arrangers, including BNP Paribas and Credit Suisse, on the¬†‚ā¨970m senior facilities to facilitate Partners Group and PSP Investments' acquisition of¬†Cerba HealthCare Group. Trevor Borthwick¬†'s broad ranging finance practice includes acquisition finance matters for both lenders and borrowers; he recently represented a banking syndicate on a $2.7bn facility to support John Wood Group's acquisition of Amec Foster Wheeler plc. On the borrower front, the 'outstanding'¬†Melissa Samuel¬†acted for Syngenta on the amendment and restatement of a $5bn target facilities agreement and $1.5bn revolving credit facility in connection with its acquisition by ChemChina. The 'excellent'¬†Philip Bowden¬†handles both leveraged deals and investment grade acquisition finance matters and is a key member of the team that also includes¬†Robin Harvey, who has a private equity sponsor focus to his practice;¬†Nicholas Clark;¬†Timothy Polglase;¬†George Link; Matt Moore¬†and¬†Darren Hanwell¬†. Other clients include Deutsche Bank, Goldman Sachs, RBS, PAI Partners and Providence Equity Partners.

Leading individuals

Jonathan Brownson - Allen & Overy LLP

Philip Bowden - Allen & Overy LLP

Robin Harvey - Allen & Overy LLP

Next generation lawyers

Matt Moore - Allen & Overy LLP

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

Allen & Overy LLP

Leveraging the firm’s strong banking ties, in addition to its wide-reaching international network, the 'responsive and knowledgeable' five-partner team at Allen & Overy LLP provides a 'very commercial perspective' across the gamut of transportation financings. Benefiting from the complementary expertise of a 'first-class' capital markets capability, in addition to other relevant areas including restructuring, tax and corporate, the team has been particularly active recently advising on many of the most complex aviation finance mandates in the market. The 'brilliant' Paul Nelson recently advised the AFIC insurer group on a novel French tax lease for two Boeing 777-FF2 aircraft on lease to Turkish Airlines and also acted for UK Export Finance and Credit Agricole on the export credit backed financing of six Boeing 787-9 aircraft to Norwegian Air Shuttle (in a deal which included the first JOLCO financing for Norwegian Air). The 'very calm and measured' Mario Jacovides recently advised HSBC and Agricultural Bank of China on the limited recourse financing for Novus of a Boeing 777 aircraft on lease to Emirates. David Smith  and Kevin Young are key practitioners within the team, particularly in relation to handling shipping and offshore financing mandates; both recently acted for Citibank on a complex financing package including high yield debt and a super senior term loan for US-listed shipping company Global Ship Lease. Other clients include Cargolux, Cathay Pacific, HSBC and Deutsche Bank. Harry Upcott  and rail expert Jonathan Bevan are also recommended at a partner level, while senior associates Linda Roxburgh  and Chris Mitchell have strong practices respectively on the shipping and aviation fronts.

Leading individuals

David Smith - Allen & Overy LLP

Mario Jacovides - Allen & Overy LLP

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

Allen & Overy LLP

Leveraging the firm's deeply entrenched commercial and investment bank relationships with clients including RBS, Deutsche Bank and JP Morgan, and also able to effectively resource multi-jurisdictional deals by virtue of its huge international network of offices, Allen & Overy LLP remains a market leader for syndicated deals throughout EMEA. With more than 100 practitioners in the banking team, the firm has the critical mass to handle a tremendous volume of mandates ranging from relatively commoditised revolving credit facilities for general working capital purposes, to jumbo investment grade acquisition financings. Trevor Borthwick recently advised the lenders on the origination and syndication of a $2.75bn facility to support John Wood Group’s acquisition of Amec Foster Wheeler plc. Although the firm handles a greater proportion of its work flow on the lender side it also generates a significant amount of investment grade borrower work including advising on the establishment of Euro Medium Term-Note programmes (EMTN) and other treasury facilities. Praised for her 'friendly nature but tough negotiating style', the 'outstanding' Melissa Samuel represented Syngenta on the amendment and restatement of a $5bn target facilities agreement and $1.5bn revolving credit facility in connection with ChemChina's acquisition of Syngenta. Other recommended partners include Simon Roberts, Darren Hanwell, Philip Bowden and Greg Brown.

Leading individuals

Simon Roberts - Allen & Overy LLP

Trevor Borthwick - Allen & Overy LLP

Next generation lawyers

Darren Hanwell - Allen & Overy LLP

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

Allen & Overy LLP

With ten partners based out of London and also able to leverage the expertise of¬†over 150 restructuring lawyers across 44 global offices,¬†Allen & Overy LLP¬†has the critical mass and international footprint to handle many of the most significant cross-border restructurings utilising the full range of international options, including US Chapter 11 reorganisations, UK schemes of arrangement, pre‚Äďpackaged sales and debt for equity swaps. Leveraging the firm's pre-eminent work for banks at the front end of deals, as well as receiving standalone work in distressed scenarios, the firm picks up a significant amount of lender-side work;¬†Katrina Buckley¬†recently concluded her high-profile work for the co-ordinating committee of revolving credit facility and term loan lenders to the Premier Oil group. Led out of London on the restructuring front by¬†Ian Field¬†and also able to call upon practitioners on the ground in Johannesburg, the team provided an integrated cross-practice service (which also included capital markets, leveraged finance and corporate lawyers) to the syndicate of international term loan lenders on the second restructuring of South African retailing group Edcon. As part of his broad-ranging banking practice¬†Andrew Trahair¬†regularly handles restructuring matters including his recent work for the co-ordinating committee of lenders on the Steinhoff restructuring. Trahair was also involved alongside the recently retired Mark Sterling on the representation of Ukranian energy company Metinvest on its $2.3bn restructuring. A complex mandate, and one which once again showcased the firm's ability to bring in high yield and general banking expertise, notably the matter involved the implementation of a novel¬†and innovative ‚Äėscheme lite‚Äô product to impose a moratorium on three series of bonds thereby enabling the company to have¬† a stable platform from which to negotiate the wider restructuring with its creditors. In another debtor-side mandate,¬†Earl Griffith ¬†continues to act for the Four Seasons Health Care Group in connection with a financial creditor and leasehold estate restructuring of the Group‚Äôs debt and capital structure. Other recommended practitioners include¬†Randal Weeks¬†,¬†Jennifer Marshall,¬†Tim Crocker,¬†David Lines¬†,¬†consultant¬†Gordon Stewart,¬†recently promoted partner¬†Joel Ferguson¬†¬†and senior associate¬†Hannah Valintine. Other clients include RBS, ING, JP Morgan and Pelican Rouge.

Leading individuals

Ian Field - Allen & Overy LLP

Next generation lawyers

Joel Ferguson - Allen & Overy LLP

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Debt capital markets
Debt capital markets - ranked: tier 1

Allen & Overy LLP

At¬†Allen & Overy LLP, 'the level of service is super'. The firm is widely regarded as one of the leaders in the market for MTN programmes, standalone bonds, liability management, equity-linked transactions,¬†regulatory capital deals and subordinated debt, as well as having a strong US law capability in London.¬†Jonathan Melton¬†leads the practice and advised the joint lead managers on a combined $1.5bn in issuance by Vimpelcom Holdings.¬†Matthew Hartley¬†advises investment banks and issuers - including sovereigns, supra-nationals, corporates, banks and mutuals - on the full gamut of international capital markets transactions. His highlights included advising¬†Bank of America Merrill Lynch on a ‚ā¨3bn issuance by the¬†Hellenic Republic.¬†Philip Smith¬†advises lead managers and issuers on public and private deals. His highlights included acting for the¬†lead managers in the establishment of CPI Property Group's ‚ā¨1.25bn EMTN programme.¬†Theo Trayhurn's broad practice includes¬†regulatory capital issuance by financial institutions and high-profile blue chip corporate bond offerings.¬†Tom Grant¬†recently acted in numerous¬†bank and insurance capital issues and corporate hybrid transactions.¬†Jamie Durham¬†stands out for¬†regulatory capital, emerging markets, Islamic finance, liability management and equity-linked¬†transactions.¬†US-qualified¬†Sachin Dav√©¬†handles¬†Rule 144a, Regulation S and other private placement transactions for¬†governments, issuers and investment banks.

Leading individuals

Jamie Durham - Allen & Overy LLP

Jonathan Melton - Allen & Overy LLP

Matthew Hartley - Allen & Overy LLP

Philip Smith - Allen & Overy LLP

Theo Trayhurn - Allen & Overy LLP

Next generation lawyers

Peter Crossan - Allen & Overy LLP

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

Allen & Overy LLP

Allen & Overy LLP has one of the deepest and strongest structured finance practices in the City, and clients remark that 'the level of service is extremely high; it has fast response times, a very high level of legal and industry knowledge and a proactive approach'. The practice has 13 specialist partners who provide bespoke legal advice and develop innovative technology solutions for the derivatives and structured finance market, such as MarginMatrix, which is a solution for compliance with mandatory variation margin rules. David Wakeling and Tom Roberts were the driving forces behind that project. The firm has since developed Margin Xchange for the mass repapering of derivatives contracts required by new initial margin regulations. In the regulatory sphere, the firm is also leading the way in developments surrounding blockchain applications and virtual currencies. On the transactional side, the firm is involved in the development of innovative risk retention structures; for instance, Franz Ranero acted for Napier Park Global Capital and others in establishing a CLO origination fund, which acts as CLO originator and retention-holder to third-party managers. Tony Drake-Brockman leads the practice and specialises in all types of structured products and funded derivatives, including credit-linked, equity-linked and commodity-linked securities, warrant issues and fund structures. Emma Dwyer is many client' 'our preferred counsel in derivatives and OTC clearing matters; she is extremely knowledgeable and has extremely good industry insight'. A client of Paul Cluley remarks that 'his performance and that of his team on our initial margin project was absolutely stellar; his advice is always very sound, direct and fit-for-use'. Also recommended are Parya Badie for strategic equity matters; David Benton, whose track record includes derivatives matters arising from the eurozone sovereign debt crisis; Richard Tredgett and Daniel Shurman, who advised VTB Capital on structured commodity transactions; Guy Antrobus, who assisted ISDA with updates to initial margin credit support documentation; and David Wainer , whose clients include Morgan Stanley.

Leading individuals

David Benton - Allen & Overy LLP

David Wakeling - Allen & Overy LLP

Emma Dwyer - Allen & Overy LLP

Parya Badie - Allen & Overy LLP

Richard Tredgett - Allen & Overy LLP

Tony Drake-Brockman - Allen & Overy LLP

Next generation lawyers

Tom Roberts - Allen & Overy LLP

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Emerging markets
Emerging markets - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP provides 'an excellent level of service, which is prompt, very well-drafted and good value for money; the lawyers are very accommodating and ultimately aim to assists banks to complete transactions notwithstanding the various challenges that may crop up along the way'. The firm's growth market practice in London acts with other offices in the network and with relationship firms in key jurisdictions to handle work in Africa, the CEE and CIS regions, Ukraine, southeastern Europe, Turkey, the Middle East and many parts of Asia and Latin America. Its key strengths are in debt capital markets, bank finance, project finance, corporate finance and private equity. It also has a strong structured finance practice that acts in high-value trade and leveraged finance deals. Lorraine Bayliss leads the firm's ECA practice and along with Middle East specialist Jaspal Gillar advised the European Bank for Reconstruction and Development (EBRD) and its co-lenders on three Ben Ban power projects - ACWA Power's 120MW development, Access EREN's 1000MW project and the 50MW Al Fanar deal - with a combined value of $1.3bn. Another leading light in the market is Sanjeev Dhuna, who focuses on deals in India and Africa. He handled the $110m Project Lima acquisition financing for Standard Chartered Bank and Société Générale, which funded Helios Investment Partners' buyout of Fertilizers and Inputs Holding and involved jurisdictions such as Ivory Coast and Cameroon. Capital markets partners Sachin Davé and Jamie Durham acted for the lead managers in the Federal Republic of Nigeria’s GTMN programme and first ever diaspora bond issuance. This involved the combined issuance of $1.3bn in notes. The firm's deep bench includes Greg Brown , who is 'an excellent lawyer who has a perfect understanding of commercial principles', banking partners Philip Bowden and Michael Castle , oil and gas specialist Andrew Castle and head of Islamic finance Atif Hanif. Senior associate Oleg Khomenko is 'extremely knowledgeable, client-centric and a great negotiator' fortransactions in Russia and CEE.

Leading individuals

Greg Brown - Allen & Overy LLP

Lorraine Bayliss - Allen & Overy LLP

Sachin Davé - Allen & Overy LLP

Sanjeev Dhuna - Allen & Overy LLP

Next generation lawyers

Oleg Khomenko - Allen & Overy LLP

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High yield
High yield - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP¬†benefits from the close integration of its leveraged finance, bank lending and debt capital markets teams in London and New York. Co-head of the global high yield group¬†Kevin Muzilla¬†leads the practice in London, which acts for blue-chip clients such as¬†Goldman Sachs, Pamplona Capital Partners and Deutsche Bank.¬†Matthias Baudisch¬†'demonstrates strong technical skills and an ability to negotiate very successfully with sponsors'. He acted alongside senior associate and rising star¬†John Kicken¬†for JPMorgan and SEB on the ‚ā¨340m notes offering by Norican to finance the acquisition of Light Metal Casting Solutions Group.¬†Jeanette Cruz¬†acted¬†in¬†one of the largest sterling-denominated high yield bond deals of 2017 when she advised¬†Iceland Foods on its ¬£550m notes offering. She also handled one of the largest restructurings that year by acting for MetInvest, which restructured its existing $1.125bn of high yield bonds.¬†Jake Keaveny, who handled Empark's ‚ā¨350m issuance for global coordinator JPMorgan, is also recommended.

Leading individuals

Jake Keaveny - Allen & Overy LLP

Jeanette Cruz - Allen & Overy LLP

Kevin Muzilla - Allen & Overy LLP

Next generation lawyers

John Kicken - Allen & Overy LLP

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Islamic finance
Islamic finance - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP is 'the best in this field in terms of technical ability and market knowledge'. Atif Hanif leads the team, with counsel Yusuf Battiwala and Jamie Durham coming highly recommended. Senior associate Sajjad Juma and associate Grainne Drumm acted as lead counsel for a syndicate of Saudi banks including Al Rajhi Banking and Investment Corporation in relation to a SAR 7,888,750,000 murabahah financing for Etihad Etisalat Company to refinance current indebtedness. Paul Nelson, senior associate Luke Elliott and associate Evgenia Erakhtina also acted for the lenders across five different syndicated financing facilities for the $3.5bn Ijara financing of thirty A320 and twenty A330 aircraft to IAFC for lease to Saudi Arabia Airlines, in Saudi’s largest aircraft leasing transaction and the largest aviation deal to date to be secured by Islamic financing. Other clients include Crédit Agricole Corporate and Investment Bank, Saudi Electricity Company, Credit Suisse, Deutsche Bank, First Abu Dhabi Bank, HSBC, JP Morgan and Bank ABC Islamic. Salim Nathoo is also a key contact in the London office.

Leading individuals

Atif Hanif - Allen & Overy LLP

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Securitisation
Securitisation - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP¬†is 'a market-leading firm - hugely knowledgeable, pragmatic, agile and yet competitive on fees'. A client describes it as 'one of the best international leading firms for securitisation'. The firm has one of the broadest and most highly respected securitisation practices in the City, and its diverse workload sees it advise¬†all parties on precedent-setting transactions in all asset classes, including residential mortgages, commercial mortgages, consumer loans, corporate loans, CLOs, auto loans and leases, trade receivables, public sector, project finance and infrastructure. A key area of focus is whole business securitisations and corporate structured funding, including infrastructure and project bond-related work. Highlights included acting for arranger Citibank on the Ripon and Harben securitisations, which provided financings for the sale of buy-to-let mortgage loans originated by Bradford & Bingley and Mortgage Express.¬†Newly promoted partner¬†Tom Constance¬†led those deals, which had a combined value of ¬£12.3bn.¬†Angela Clist¬†acted for the¬†purchasers Blackstone Tactical Opportunities Advisors L.L.C. and Goldman Sachs International Bank in those transactions.¬†Salim Nathoo¬†leads the global securitisation group practice and he frequently works with mortgage originators and investment banks on establishing RMBS and covered bonds programmes.¬†Sally Onions¬†also advises on RMBS and covered bond transactions, as well as auto financings, trade receivables deals and portfolio acquisitions.¬†Tim Conduit¬†focuses on utility, transport, project bonds, asset financing, trade finance and commodity financings. Also recommended is¬†Lucy Oddy, who acted for funds managed by PIMCO in regard to their¬†investments in Project Fino, the divestment by Unicredit of ‚ā¨17.7bn of Italian non-performing loans by way of securitisations. Counsel¬†Daniel Hill¬†is a rising star.

Leading individuals

Angela Clist - Allen & Overy LLP

Lucy Oddy - Allen & Overy LLP

Sally Onions - Allen & Overy LLP

Salim Nathoo - Allen & Overy LLP

Tim Conduit - Allen & Overy LLP

Next generation lawyers

Daniel Hill - Allen & Overy LLP

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Trade finance
Trade finance - ranked: tier 1

Allen & Overy LLP

The trade and commodity finance practice at Allen & Overy LLP is frequently involved in some of the largest and most high-profile transactions in the market, due in part to the strength of its first-rate international banking practice and its large client roster of leading financial institutions. On the transactional side, the firm is sought out for new deals with complex structures and the restructuring of existing financing arrangements. Its broad range of work encompasses bilateral trade and receivables financings, letters of credit and highly structured trades. It is also highly regarded for its work on supply chain financing and trade risk distribution, and last year it assisted a leading bank with the establishment of its debut trade risk distribution programme. Greg Brown focuses on trade, commodities and emerging markets with a strong track record of deals in Russia, Africa, India, Turkey and the Middle East. He advised ING on syndicated loan facility agreements for ED&F Man Group with a total value of $2bn. Head of the ECA practice in London Lorraine Bayliss recently acted for UK Export Finance and Santander in a deal to finance a fleet of buses in Mexico City. Counsel Catherine Lang-Anderson acts for a variety of clients including banks, borrowers, multilateral institutions and borrowers across the full spectrum of trade and commodity finance products. She acted alongside senior associate Daniel Birch for a consortium of six banks on the purchase of $470m in senior variable funding notes issued by Trafigura Commodities Funding.

Leading individuals

Greg Brown - Allen & Overy LLP

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London: Human resources

Employee share schemes
Employee share schemes - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP's 'experienced and highly responsive' team is 'focused on delivering solutions rather than highlighting problems' and handles the full spectrum of share scheme issues with notable expertise in the finance sector, advising on executive incentives and assisting with global share scheme work. The 'pragmatic and commercial' Paul McCarthy leads the department and has substantial experience in share plan issues arising from corporate transactions; he is advising 21st Century Fox on the incentives elements of its proposed acquisition of the remaining stake in BSkyB and assisted Imperial Brands with the share aspects of its acquisition of Nerudia. Senior associate Louise Batty is also recommended and regularly handles cross-border share plan arrangements.

Leading individuals

Paul McCarthy - Allen & Overy LLP

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

Allen & Overy LLP

Allen & Overy LLP's 'top-ranking practice' stands out for its expertise in the financial services sector and experience representing clients in high-stakes employment litigation. Recent highlights include defending GlaxoSmithKline in a breach of contract claim following its recruitment of a leading pharmaceutical executive from a close competitor, acting for Corbiere and Trenchant in litigation relating to the theft of confidential information by a former employee, and advising JP Morgan on General Data Protection Regulation (GDPR) compliance. Barclays, Google, HSBC, Morgan Stanley and Lloyds Banking Group are also clients. Sarah Henchoz leads the department, which also includes the highly regarded Karen Seward, who now leads the firm's global litigation team; Mark Mansell, senior associate David Cummings and counsel Rachel Reeves who joined from an in-house position at HSBC.

Leading individuals

Karen Seward - Allen & Overy LLP

Sarah Henchoz - Allen & Overy LLP

Next generation lawyers

David Cummings - Allen & Overy LLP

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Pensions
Pensions (non-contentious) - ranked: tier 1

Allen & Overy LLP

Pensions: dispute resolution - ranked: tier 3

Allen & Overy LLP

Allen & Overy LLP 'expertly combines technical expertise and commercial acumen' to provide 'an excellent service that is pragmatic, responsive and client-oriented'. The 'outstanding' Maria Stimpson leads the department, which includes the 'excellent' Neil Bowden, the 'talented' Däna Burstow and the 'highly knowledgeable' Jane Higgins. Bowden's recent mandates include advising the trustees of the BT Pension Scheme on the proposed transfer of its additional voluntary contribution (AVC) arrangement and acting for the trustees of the ICI Pension Fund on a high-profile derisking matter including advising on 14 tranches of insurance covering £9bn of liabilities. Other highlights include Burstow's advice to Arriva on the restructuring of its defined benefit (DB) pension arrangements; Stimpson's work on restructuring for the trustees of the hibu Pension Plan; and Higgins and Bowden's work for the trustees of the Lloyds Banking Group Pensions Trust on an application to the High Court regarding whether guaranteed minimum pensions (GMPs) need to be equalised. Other key individuals include counsel Jessica Kerslake, who 'provides top-quality advice', newly promoted partner Andy Cork, who 'communicates clearly, and consultant Derek Sloan. Stephen Richards joined Stephenson Harwood.

Leading individuals

Maria Stimpson (non-contentious) - Allen & Overy LLP

Neil Bowden (non-contentious) - Allen & Overy LLP

Next generation lawyers

Jane Higgins (non-contentious) - Allen & Overy LLP

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London: Insurance

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

Allen & Overy LLP

‚ÄėComposed and measured in advocating the client‚Äôs case‚Äô, the team at¬†Allen & Overy LLP¬†offers ‚Äėclarity and firmness and exhibits a clear strategic approach‚Äô for policyholders in high-value coverage disputes against Lloyd‚Äôs market, Bermuda market and international insurers. It has significant experience and expertise in complex financial instruments, tricky capital markets structures and insurance arbitrations, directors' and officers' (D&O) cover, and cross-border disputes such as Bermuda Form matters. Notably,¬†Richard Smith¬†is particularly active in this field, bringing a ‚Äėcoordinated and conversant‚Äô approach to cases. Joanna Page, who demonstrates ‚Äėgreat practical judgement and is hugely experienced‚Äô, heads the team, which also includes Richard Farnhill: he has ‚Äėa very inventive legal mind which finds solutions to problems that most others would overlook‚Äô. He is currently leading the advice to Abu Dhabi National Exhibitions Company (ADNEC) in its claim against insurers under the Third Parties (Rights against Insurers) Act 1930.

Leading individuals

Joanna Page - Allen & Overy LLP

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Insurance: corporate and regulatory
Insurance: corporate and regulatory - ranked: tier 2

Allen & Overy LLP

The active team at Allen & Overy LLP has advised on over 80 transactions and regulatory matters in the last three years, with prominent work in both life and non-life insurance. Practice head Philip Jarvis, who specialises in corporate insurance and regulatory matters, is extremely well regarded in the field; this is demonstrated by his advice to Prudential on its sale of £12bn of annuity liabilities to Rothesay Life covering 400,000 policyholders, the largest deal of its kind. In addition, the practice is noted for its advice on significant Solvency II issues, cross-border deals, and pensions buy-ins, as well as its experienced debt capital markets team. Another prominent highlight was advising Scottish Equitable on two significant disposals, the first to Rothesay Life and the second to Legal & General Assurance Society, which were completed in June 2017 and September 2017 respectively. Experienced senior associate Kate McInerney played a crucial role in both.

Leading individuals

Philip Jarvis - Allen & Overy LLP

Next generation lawyers

Kate McInerney - Allen & Overy LLP

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London: Investment fund formation and management

Private funds
Private funds - ranked: tier 6

Allen & Overy LLP

Allen & Overy LLP 's  Matt Huggett  is noted for his expertise in infrastructure and shipping fund mandates, while John Goodhall and Pavel Shevtsov  handle work for significant institutional investors from the Middle East and CIS regions.

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Real estate funds
Real estate funds - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP's Matt Huggett advised TH Real Estate on forming its China Outlet Mall Fund, while Nick Williams advises Hines on various real estate projects, including the ongoing operations of its Luxembourg-domiciled pan-European fund. John Goodhall also handles work with complex issues of LLP law involved. Other clients include Tishman Speyer and several sovereign wealth funds. Dominic Von Wulffen is a key senior associate.

Next generation lawyers

Dominic von Wulffen - Allen & Overy LLP

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London: Projects, energy and natural resources

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

Allen & Overy LLP

David Lee spearheads Allen & Overy LLP 's infrastructure offering and regularly acts in high-profile, high-scale transactions. In recent highlights, he teamed up with Richard Evans to advise a consortium of bidders including Macquarie on their acquisition of the Green Investment Bank, and Sara Pickersgill collaborated with him to oversee the takeover of HS1 from pension funds OMERS and OTPP on behalf of a consortium including InfraRed and Equitix. On the financing side, Jonathan Bevan and Tim Conduit assisted the funders of the refinancing of the Beacon Rail group, and Conrad Andersen oversaw the refinancing of the Budapest International Airport on behalf of the funders, agents and security agents. Other key names include Jocelyn Land and senior associate Ed Moser . Tom Constance was recently made partner and Nigel Pritchard has retired from the firm.

Leading individuals

Conrad Anderson - Allen & Overy LLP

David Lee - Allen & Overy LLP

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Mining and minerals
Mining and minerals - ranked: tier 2

Allen & Overy LLP

London-based Dominic Morris jointly heads Allen & Overy LLP 's global mining offering with Geoff Simpson who sits in Perth. In recent highlights, Richard Hough collaborated with the corporate department to advise Odey on the restructuring of debt held by a number of its funds into equity in Tri-Star, and Richard Browne handled the AIM de-listing of Sirius Minerals and subsequent listing on the premium segment of the LSE. Vale appointed the group to re-negotiate Mitsui's $1bn investment in the Moatize coal mine and related rail and port project in Mozambique, and Jamie Durham intervened in Volcan's investment in Anglo American shares through two separate issues of mandatory exchangeable bonds by wholly-owned Volcan subsidiaries. On the contentious front, Mark Levy represented the Republic of Pakistan in an investment treaty arbitration arising from a gold and copper mining project in Balochistan brought by Tethyan Copper. Also notable are David Lee and Jeremy Parr who co-head the firm's global infrastructure and energy groups respectively.

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Oil and gas
Oil and gas - ranked: tier 1

Allen & Overy LLP

The 'highly responsive and creative' oil and gas team at Allen & Overy LLP impresses clients with its 'excellent business acumen' and 'strength in depth'. On the projects side, Troy Edwards and Lorraine Bayliss are currently advising TAP - a joint venture between BP, SNAM, SOCAR and others - on all aspects of the Trans-Adriatic Pipeline which will commence on the border between Turkey and Greece and run until Italy. John Geraghty handled Total's acquisition of Engie's portfolio of upstream and midstream LNG assets, and acted for the CPPIB in its $1.23bn acquisition of 45% stake in the Corrib gas field from Shell. Recent financing highlights include Andrew Castle's closing of the first stage of financing for an African oil company seeking to purchase shares in another company. The practice is jointly spearheaded by Gareth Price and Jeremy Parr with the support of arbitration and energy disputes expert Mark Levy .

Leading individuals

Jeremy Parr - Allen & Overy LLP

John Geraghty - Allen & Overy LLP

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

Allen & Overy LLP

Spearheaded by Gareth Price and Jeremy Parr , the power team at Allen & Overy LLP handles the full spectrum of projects, financing, M&A and dispute resolution work for a enviable client roster. On the nuclear front, Troy Edwards is collaborating with Price to advise Hitachi and Horizon on the development of a new-build plant in the UK. Internationally, the EBRD and its co-lenders appointed a team led by Lorraine Bayliss and Jaspal Gillar to oversee the financing - some of which through Islamic tranche - of six projects in the Ben Ban development, and Mark Walker acted for the Palestine Energy Transmission Company in the purchase of electricity distributed by a regulated Israeli entity at four connection points in the West Bank as well as the associated PPA. Also notable are John Geraghty , David Lee and Richard Evans who intervened in significant mandates in the renewables space such as the privatisation of the Green Investment Bank. Engie, Macquarie and Goldman Sachs are also key clients.

Leading individuals

Gareth Price - Allen & Overy LLP

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Water
Water - ranked: tier 1

Allen & Overy LLP

Conrad Andersen heads the water team at Allen & Overy LLP with the support of Tim Conduit . In recent highlights, Richard Evans teamed up with Andersen to advise a consortium comprised of OMERS and Wren House - two infrastructure asset managers - on their acquisition of a 26.315% stake in Kemble Water which holds Thames Water. Following Mark Friend 's counsel to Severn Trent with regards to the creation of Water Plus - a non-household retail joint venture with United Utilities - he recently oversaw the antitrust and regulatory aspects of its takeover of Dee Valley Water. On the banking side, Jonathan Melton and Daniel Fletcher represent a major UK bank as arranger in the maintenance of a euro medium-term note programme for a major water company. Also notable is Gillian Holgate who sits in the corporate department. The firm recently promoted Tom Constance to the partnership and Nigel Pritchard retired.

Leading individuals

Conrad Andersen - Allen & Overy LLP

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London: Public sector

Administrative and public law
Administrative and public law - ranked: tier 2

Allen & Overy LLP

'One of the strongest city firms for administrative and public law' Allen & Overy LLP offers a blend of broad commercial and regulatory expertise together with public law in areas such as procurement, telecoms and banking and finance. Andrew Denny, who heads the public law group also chairs the firm’s human rights working group and provides pro bono assistance to NGOs. He acted for Bail for Immigration Detainees on a Supreme Court intervention concerned with whether bail can be granted to, and conditions imposed upon, an individual when there is no longer a lawful basis for detention. Together with senior associate, Maeve Hanna, he acted for The AIRE Centre as intervener in a Supreme Court case concerned with the application of the Refugee Convention and the UK government’s responsibilities for refugee families living on the Sovereign Base Areas in Cyprus. The team also advises on Brexit constitutional matters.

Leading individuals

Andrew Denny - Allen & Overy LLP

Next generation lawyers

Maeve Hanna - Allen & Overy LLP

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London: Real estate

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

Allen & Overy LLP

Commercial property: development - ranked: tier 5

Allen & Overy LLP

Commercial property: hotels and leisure - ranked: tier 4

Allen & Overy LLP

Commercial property: investment - ranked: tier 2

Allen & Overy LLP

Commercial property: retail - ranked: tier 3

Allen & Overy LLP

Allen & Overy LLP¬†is instructed by foreign and domestic clients in corporate real estate and investment transactions, and also handles letting and asset management work for a variety of landlords, and tenants in the financial services sector. In the hotel sector, Christopher Woolf¬†advised Dubai Holdings and Jumeirah Group, as joint venture partners with Henderson Park, on the ‚ā¨500m acquisition of the Westin Hotel in Paris, which involved a subsequent lease of the hotel to Jumeirah. Woolf also assisted a US private equity fund on the ¬£93m off-market acquisition of a portfolio of industrial properties across the UK. Department head Imogen Moss¬†acted for Ashby Capital in relation to the ¬£320m sale of the Jersey SPV owning 200 Aldersgate in London, a multi-let office, retail and leisure complex. Further, Woolf and Moss have advised UK and Southeast Asian investors on proposed large-scale logistics portfolio transactions, and have handled HQ relocations for high-profile banks, investment companies and regulatory bodies. Counsel Emma Willoughby¬†has experience with complex investment transactions, development finance and letting agreements.

Leading individuals

Imogen Moss - Allen & Overy LLP

Next generation lawyers

Emma Willoughby - Allen & Overy LLP

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Construction
Contruction (non-contentious) - ranked: tier 2

Allen & Overy LLP

Troy Edwards¬†heads the construction team at Allen & Overy LLP, which continues to advise Horizon Nuclear Power and Hitachi on all construction aspects related to the ¬£14m Horizon nuclear power projects in the UK, as well as a number of major international infrastructure mandates, such as the highly strategic ‚ā¨6bn Trans Adriatic Pipeline project. Other clients include European Bank for Reconstruction and Development (EBRD), Goldman Sachs, and CitiBank. Nigel Pritchard¬†retired.

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Environment
Environment - ranked: tier 1

Allen & Overy LLP

The team at Allen & Overy LLP¬†is praised for its ‚Äėvery good strategic advice.‚Äô Matthew Townsend¬†heads the practice, which is continuing to advise Horizon Nuclear on environmental and nuclear permitting issues regarding their newbuild nuclear power plant in the UK; and is advising CPPIB on the environment and regulatory aspects of its $1.23bn acquisition of 45% stake in the Corrib gas field from Shell. The team also advised the lenders on the compliance aspects of the Coral FLNG project, the first-ever project financing of a floating LNG vessel which, at approximately USD5bn, was also the largest project financing in African history at the time.

Leading individuals

Matthew Townsend - Allen & Overy LLP

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Property finance
Property finance - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP is 'probably the market leader on commercial real estate deals', thanks to its 'deep bench of partners' and ability to handle large, cross-border matters. Paul Flanagan (who 'quickly gets to the commercial points and knows the market very well'), Arthur Dyson, Simon Roberts and Mark Manson-Bahr lead the team, which acted on a number of high-profile real estate M&A transactions in the logistics and student accommodation sectors. The firm counts many leading real estate lenders and sponsors among its clients, including Barclays, Lloyds, Société Générale and Starwood Capital. Other noted team members are the 'solid' David Oppenheimer, Ian Powell, Atif Hanif, Lucy Oddy and 'very pragmatic' senior associate Peter Mailer. The practice is also known for its expertise in CMBS matters.

Leading individuals

Arthur Dyson - Allen & Overy LLP

Mark Manson-Bahr - Allen & Overy LLP

Paul Flanagan - Allen & Overy LLP

Simon Roberts - Allen & Overy LLP

Next generation lawyers

David Oppenheimer - Allen & Overy LLP

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Property litigation
Property litigation - ranked: tier 3

Allen & Overy LLP

The team at Allen & Overy LLP¬†is headed by the ‚Äėhighly rated‚Äô Jane Fox-Edwards¬†and has core strengths in high-value investment, development of real estate and insolvency related issues. The firm also offers niche expertise in relation to headquarter relocation and the Telecoms Code. Fox-Edwards and senior associate Lucy Grey¬†have been instructed by various landlords for strategic advice following the insolvencies of Toys R Us, BHS and House of Fraser. The group is also representing Uniper UK in regard to the legal status of two jetties in the mouth of the river Medway. In a further highlight, Grey is representing leaseholds who have lost their property interests as a result of the fire at Grenfell Tower.

Leading individuals

Jane Fox-Edwards - Allen & Overy LLP

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Social housing: finance
Social housing: finance - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP is ‚Äėamong the best firms for corporate and real estate finance, and has excellent knowledge of the housing sector‚Äô, which makes the team ‚Äėa great choice for high-value lending and borrowing transactions‚Äô. Consultant and practice head Geoff Fuller, who is a key contact for debt capital markets work, advised L&Q and East Thames on a ¬£500m dual-tranche bond issuance, which was the client‚Äôs largest bond issuance to date. Similarly, Fuller assisted Clarion Housing Group with the establishment of the Secured EMTN Programme of Clarion Funding. Bank lending highlights have included Greg Brown¬†acting for Places for People Group in relation to the ¬£150m amendment and restatement of a loan and an option to extend by ¬£50m. The firm is particularly well-known for its bank-side instructions, which have recently included Fuller advising HSBC Bank, NatWest and RBC on a secured bond issuance by Affordable Housing Finance, and acting for the joint bookrunners and trustees in relation to a ¬£400m bond issuance by Martlet Homes.

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London: Risk advisory

Brexit
Brexit - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP assists clients with formulating and implementing their Brexit strategies by drawing upon the expertise of its team across multiple departments and jurisdictions. In addition, it has participated in more than 30 fact-finding initiatives with government departments and trade associations, and it also engages extensively with regulators. The firm is particularly active in the financial services sector, where it advises clients on a range of issues connected with their future business needs, such as future market access options,  financial services regulation, business restructuring and relocation, and licensing, among others. Its work covers a broad cross-section of activities in the financial services ecosystem, including banking, investment management and insurance.  Etay Katz, Damian Carolan and senior associate Jodi Norman are part of a cross-office team which is advising a London-headquartered multinational bank on all aspects of its Brexit contingency planning, including its application to BaFin for a licence to establish a European banking subsidiary in Germany. The firm also assists corporate clients from various other industries with Brexit issues, including TMT, life sciences and energy. Daniel Shurman, Richard Cranfield, Kate Sumpter and Matthew Townsend are among a number of names to note.

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Corporate governance
Corporate governance - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP covers the full spectrum of advice on governance, regulatory compliance and risk management issues. The practice, which is led by Richard Cranfield and Richard Browne, has a particularly strong specialism in assisting clients with AGMs, annual reports and other governance arrangements. Cranfield is part of a group, which includes David Broadley and Dominic Morris, that provides support to between 25 and 30 listed companies per year; clients such as Aviva Virgin Money and Imperial Brands turn to the firm for support in this area. Another notable client is Electra Private Equity, for whom the firm advises on activist shareholder issues, strategic reviews and various other matters. Matthew Townsend's recent work included advising Rotork on the standards of its whistleblowing and 'ethics and values' policies, as well as acting for England Athletics in an internal governance review. Sarah Henchoz and Karen Seward have been advising clients on the recent introduction of Gender Pay Gap reporting. Senior corporate assistants Victoria Rankmore and Kate Astley are also recommended.

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Data protection privacy and cybersecurity
Data protection privacy and cybersecurity - ranked: tier 2

Allen & Overy LLP

The 'responsive and knowledgeable' data protection and cybersecurity practice at Allen & Overy LLP handles compliance and strategic work, investigations and contentious matters as well as transactional support. The 'strong team' has been instructed by large companies such as GlaxoSmithKline, Endemol Shine Group and Four Seasons Hotels on GDPR preparation. In another work highlight it advised Allianz SE on data protection matters associated with its £1bn joint venture with Liverpool Victoria Friendly Society. It has also represented clients undergoing criminal investigation for data protection offences. The 'extremely knowledgeable and business-orientated Nigel Parker attracts praise for his 'ability to take on highly technical issues'; he jointly heads the practice alongside the 'pragmatic and personable' Jane Finlayson-Brown. Lawson Caisley, Sarah Henchoz, Mark Ridgway are key practitioners for cybersecurity matters.

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

Allen & Overy LLP

‚ÄėOne of the leading firms in this space‚Äô Allen & Overy LLP¬†handles high-profile, global investigations for corporations and financial institutions into corruption, sanctions and antitrust issues. It is currently acting for global banks, and FTSE 100 and FTSE 250 companies in relation to tax fraud, criminal investigations and anti-money laundering issues. The firm continues to act for a major international hedge fund in relation to a trade secrets theft by a former employee. This cross-border matter involved an extradition from China back to the UK where the theft took place and is worth over ¬£31m. Jonathan Hitchin¬†heads the team, Arnondo Chakrabarti¬†is another key practitioner. Eve Giles¬†joined as partner from Kingsley Napley LLP¬†.¬†Michelle De Kluyver¬†left the firm for Addleshaw Goddard¬†.

Leading individuals

Arnondo Chakrabarti - Allen & Overy LLP

Jonathan Hitchin - Allen & Overy LLP

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London: TMT (technology, media and telecoms)

Brand management
Brand management - ranked: tier 1

Allen & Overy LLP

According to one client Allen & Overy LLP¬†is¬†‚Äėnow the leading IP practice in London‚Äô.¬†David Stone¬† is ‚Äėunparalleled in the field of designs‚Äô; he is advising Coca-Cola in EUIPO proceedings and before the General Court of the Court of Justice to protect Coca-Cola‚Äôs famous Spenserian script. Neville Cordell¬†(‚Äėstrong across a range of trade mark and copyright issues')¬†advises several leading brands on advertising matters, brand protection and defending claims. Jim Ford¬† is an expert on commercial brand exploitation and is highly recommended for sponsorship work, as is Nigel Parker¬† on non-contentious IP and corporate transactions; he counts Apax Partners and TUI as clients. Stone‚Äôs ‚Äėexcellent and talented team‚Äô includes Adrian Dykes, Alex Woolgar, Robyn Trigg¬†and¬†Jade Macintyre.

Leading individuals

David Stone - Allen & Overy LLP

Next generation lawyers

Nigel Parker - Allen & Overy LLP

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Fintech
Fintech - ranked: tier 1

Allen & Overy LLP

With impressively broad, deep knowledge of the financial services sector, Allen & Overy LLP's team frequently advises high-profile clients on cutting-edge regulatory matters, as well as assisting newer companies with issues ranging from ICOs to structuring lending platforms. Group head Simon Toms acted for a consortium of financiers including Bank of America Merrill Lynch, HSBC and Temasek on its $107m investment in R3, a consortium of financial institutions collaborating to develop a DLT platform. He also acted for SPiCE Venture Capital on its ICO of 130 million tokens, which raised $100m for investing in fintech start-ups in Europe and Israel. Capital markets expert Philip Smith worked with fintech company Nivaura on the regulatory and documentation aspects of a cryptocurrency-denominated bond issuance by LuxDeco via Nivaura's platform. Structured finance specialist David Wakeling advised various derivatives dealers on the development of regtech solution marginMatrix, a cloud-based IT system designed to help dealers handle the variation margin regulations that have applied to the OTC derivatives market since 2017. On the corporate side, Duncan Bellamy and Seth Jones acted for Worldpay Group on its £8bn merger with Vantiv. Ben Regnard-Weinrabe, who is 'an unparalleled expert in the financial services regulatory environment', arrived from Paul Hastings LLP in 2018, as did senior associate Nikki Johnstone.

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IT and telecoms
IT and telecoms - ranked: tier 2

Allen & Overy LLP

The telecoms and technology teams at Allen & Overy LLP¬†attract praise for being 'quick to learn about the nuances of a particular business before promptly providing advice' that is 'worth every penny'.¬†Highlighted for his capability to handle 'large scale and super complex tech and telecom projects',¬†global¬†head of telecoms¬†Tom Levine has 'an uncanny knack for anticipating ‚ÄĒ and resolving ‚ÄĒ road blocks'.¬†Leveraging the firms¬† 'ability to meet client's multi-national needs', it was instructed by¬†Worldpay on its merger with¬†US digital payment processing company¬†Vantiv Inc.¬† Simon Toms¬†led a team acting for International Finance Corporation, Mitsui & Co and Convergence Partners on a joint venture with Google to establish¬†broadband infrastructure company¬†CSquared.¬†The team also represented¬†Huawei in FRAND litigation brought by Conversant.¬†Seoul Semiconductors, Hewlett Packard and Samsung are all clients.

Leading individuals

Tom Levine - Allen & Overy LLP

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Intellectual property
Intellectual property - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP's 'excellent' intellectual property department has been described as being¬†'one of the biggest and most prestigious' in London. It is¬†headed up globally by¬†Marjan Noor (who is praised for her 'excellent client handling skills and ferocious grasp of detail') and¬†comprises of a dedicated IP litigation, commercial IP and brands teams, led by Marc D√∂ring,¬†Jim Ford¬†and¬†David Stone¬†respectively.¬†The group is highlighted for capabilities in contentious matters, and is currently representing Hauwei in a claim brought by Conversant in the high profile dispute relating to its standard essential patents and¬†FRAND litigation. Mark Heaney¬†is recognised for his expertise in this area and boasts 'strong technical understanding of complex technology'. Another key name is¬†Neville Cordell, is highly regarded for his representation of pharmaceutical sector clients in litigation, but also 'provides a first class service in non-pharma patent cases'. He, alongside Heaney,¬†successfully¬†acted for¬†Seoul Semiconductor in patent litigation against Everlight, which was ultimately settled in Seoul's favour. The 'great thinker' Mark Ridgway¬†is another individual to note for telecoms, pharmaceutical and biotech patents litigation.¬†In an example of the teams non-contentious experience, Nigel Parker¬†led advice to¬†TUI AG on intellectual property elements of its¬†‚ā¨381m sale of¬†Travelopia to KKR. Clients of the team include Pfizer, Merck & co, The Coca-Cola Company and Samsung. Changes to the team include¬†Nicola Dagg's departure to¬†Kirkland & Ellis International LLP.

Leading individuals

Marc Döring - Allen & Overy LLP

Mark Heaney - Allen & Overy LLP

Next generation lawyers

Mark Ridgway - Allen & Overy LLP

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Media and entertainment (including media finance)
Media and entertainment (including media finance) - ranked: tier 2

Allen & Overy LLP

Allen & Overy LLP¬†is noted for its expertise across commercial, M&A, IP and antitrust work and its clients benefit from the firm‚Äôs international network of offices. Antonio Bavasso, who is co-head of the global antitrust practice and also co‚ÄĎheads the TMT practice, is advising 21st Century Fox on antitrust and regulatory matters for all non-US jurisdictions on its ¬†proposed acquisition by The Walt Disney Company; he is also advising 21st Century Fox, (with Simon Toms, David Broadley¬†and Seth Jones) on the extensive merger control and regulatory issues connected to its ¬£1.7bn takeover bid for Sky. Toms advised Space Ape on the $90m proposed sale of 62% of its share capital to Supercell. IP lawyer David Stone¬†is an expert in EU design law and represented Fox Entertainment in a case brought by Comic Enterprises Limited (CEL), a set of four small comedy clubs in Birmingham, Cardiff, Oxford and Nottingham. Patent litigation partner Neville Cordell¬†is a ‚Äėvery experienced and commercially astute litigator‚Äô.

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Pharmaceuticals and biotechnology
Pharmaceuticals and biotechnology - ranked: tier 1

Allen & Overy LLP

IP and transactions are the key pillars of Allen & Overy LLP's practice. Jim Ford¬†leads the team and recently worked with Circassia Pharmaceuticals on its $230m arrangement with AstraZeneca regarding the development of two respiratory medicines: Tudorza and Duaklir. Other key members working on the transactions side include Matthew Appleton¬†and Richard Hough.¬†Appleton advised Gr√ľnenthal on its purchase of the rights to the migraine medication Zomig from AstraZeneca. On the IP side, Marjan Noor¬†has 'excellent client handling skills' and recently represented Eli Lily in defending revocation claims relating to patents of their erectile dysfunction drug¬†tadalafil. Mark Ridgway¬†is 'a great thinker' and 'never afraid to roll his sleeves up'. Also highly recommended are IP litigator¬†Neville Cordell;¬†Marc D√∂ring, who advised Bayer on patent infringement issues; and senior associate Rafi Allos, who is also experienced in patent litigation.¬†Nicola Dagg¬†joined¬†Kirkland & Ellis International LLP.  

Leading individuals

Marjan Noor - Allen & Overy LLP

Next generation lawyers

Rafi Allos - Allen & Overy LLP

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London: Transport

Rail
Rail - ranked: tier 1

Allen & Overy LLP

Allen & Overy LLP‚Äôs ‚Äėstrong‚Äô department is regularly instructed on complex rail sector transactions and in is noted for its infrastructure, concessions and rolling stock expertise. Department head Jonathan Bevan¬†and Tim Conduit¬†advised the lenders on Angel Trains Group‚Äôs ¬£835m of new funding to refinance the procurement of 665 Bombardier Aventra vehicles that will be leased to Abellio Greater Anglia franchise from 2019. Bevan also advised lenders Cr√©dit Agricole Corporate Investment Bank and ING Bank on Beacon Rail Leasing‚Äôs acquisition of a fleet of Bombardier Class 220 and Class 221 Voyager diesel-electric multiple units from subsidiaries of Lloyds Bank and RBS. Head of global infrastructure David Lee¬†and Sara Pickersgill¬†advised InfraRed, Equitix and the National Pension Service of Korea on its ¬£3bn acquisition of 100% of the High Speed 1 group from pension funds OMERS infrastructure and the Ontario Teachers‚Äô Pension Plan (OTPP). Pickersgill also advised JPM Infra its acquisition of Beacon Rail Lux Holdings (Beacon), the holding company of the Beacon Rail group, from Pamplona Capital Management. Global head of structured and asset finance Mario Jacovides, Conrad Andersen¬†and Richard Evans¬†are also key figures.

Leading individuals

Jonathan Bevan - Allen & Overy LLP

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