Cleary Gottlieb Achieves Excellent Results in Chambers Europe 2011: More than 45 Practices and 65 Lawyers Distinguished as Leaders
July 5, 2011
Cleary Gottlieb has once again achieved excellent results in the latest edition of Chambers Europe: Europe’s Leading Lawyers for Business, with 47 practices and 67 lawyers highlighted as “leaders in the field.” New sections in this year’s guide include Europe-wide: Capital Markets: Equity and Europe-wide: Competition/European Law for which Cleary Gottlieb is ranked in the top tier, and Europe-wide: Corporate/M&A, Europe-wide: Capital Markets: Debt and France: Dispute Resolution: International Arbitration, for which the firm is also ranked.
Praise from clients and peers is extremely positive and includes “The quality of the work and the responsiveness are outstanding,” and “The service is excellent – that’s why we go back to them again and again.”
The following Cleary Gottlieb practices are recognized for being among the best in Europe based on Chambers and Partners’ interviews with clients and competitors during the course of 2010:
Belgium
Banking and Finance: “Best known for its work on behalf of state entities, Cleary Gottlieb also receives instructions from financial institutions. ... ‘A strong reputation based on consistently high-quality work.’”
Competition/European Law: “This firm has one of the best reputed and largest competition groups in Brussels. The 13-partner team’s huge size and reputation enables it to cover the full range of EU and competition law matters and to be involved in complex and high-profile cases. ... ‘This practice is the Rolls Royce of EU competition law: the best that you can get, with zero failure or weakness. ... ‘Not many law firms can guarantee this kind of consistent quality with a large global footprint, but Cleary does.’”
Corporate/M&A: “This firm continues to impress clients with its broad expertise, and maintains a strong reputation in complex M&A transactions and equity capital markets. The team is frequently involved in some of the most high-profile deals in the market. ... ‘The lawyers are proactive and a pleasure to work with, definitely one of the best teams we have ever used.’”
International Trade/WTO: “This practice offers knowledge and experience in matters including EC proceedings, anti-dumping and countervailing duty cases, and state aid issues. ... ‘A well-known firm globally that does a very good job in Brussels.’”
Public Law: “This compact yet well-respected team focuses on the economic aspects of public law, often working in conjunction with the firm’s corporate and M&A practices. Described as a collection of ‘very smart and hard-working lawyers,’ the group frequently represents public bodies as well as private businesses on a variety of transactional and litigation matters.”
TMT: “The large TMT department at this US heavyweight is best known for its competition expertise, but covers a diverse range of areas including M&A, licensing and distribution agreements, domain name disputes and data protection issues under EU and national laws. ... ‘Can handle a huge volume of work.’ ‘Particularly strong on competition issues.’”
Europe-wide
Arbitration (International): “This firm’s Paris office is at the centre of its international arbitration practice. Its pan-European team of 15 partners focuses on public international law and investment treaty instructions…The Italian team is also highly recommended for its work in this area. ... ‘The team is innovative and demonstrates impressive attention to detail.’”
Capital Markets: Debt and Equity: “This U.S. firm is known for tackling the most complex, challenging deals, representing issuers, underwriters and other parties in both debt and equity transactions. It has market-leading presences in strategic European locations – the UK, France, Germany, Italy and Russia – and employs teams of versatile lawyers who offer strong expertise in multiple practice areas. Equity specialists also assist clients in the sector with relevant debt capital markets, finance, M&A or restructuring matters. ... ‘A top-notch capital markets firm.’ ‘They value their clients, big or small.’ ‘Consistently high quality – their HR is fantastic at hiring only the best people. They have a culture of people who work hard and are very smart.’”
Competition/European Law: “Peers and clients agree that this firm remains a leader in competition and European law across the region. The firm stands out for both its resources and the breadth of its practice, with the Europe-wide team including 19 partners and nearly 100 associates. It has recently been particularly successful in cutting-edge cases in the pharmaceutical sector. ... ‘The quality of the work and the responsiveness are outstanding.’ ... ‘The network of offices in key countries, combined with the varied expertise of the Brussels office, makes this firm ideal for any transaction in Europe involving multiple jurisdictions.’”
Corporate/M&A: “This elite U.S. firm has been active in the European market for more than 60 years and has grown to eight offices since its arrival on the continent. The Paris office was the first to be established and remains a jewel in the firm’s crown…The Russian team is a key player in energy transactions…The firm retains strong connections with its roots, often handling work that involves a US element. ... ‘An absolute benchmark in energy-related M&A.’”
International Trade/WTO: “This practice offers knowledge and experience in matters including EC proceedings, anti-dumping and countervailing duty cases, as well as state aid issues. ... ‘A well-known firm globally that does a very good job in Brussels.’”
Tax: “This high-quality US firm has a flourishing tax practice in Paris and recognised teams in Italy and Germany. It handles mostly corporate-flavoured work, as well as capital markets transactions. It also offers assistance in tax disputes and investigations. ... ‘Reliable and consistent, good to turn to in the good times and with the more difficult questions too.’”
Technology and Communications: “A top adviser on competition matters, according to sources, this firm has been involved in major deals in the sector and has especially strong teams in Belgium and Italy.”
France
Capital Markets: Derivatives and Equity: “A high level of partner involvement together with a flexible approach are vital to this firm’s superb reputation in the capital markets arena, particularly as regards equity, where it has almost unparalleled expertise and experience.”
Competition/European Law: “This firm boasts an excellent and long-standing reputation for competition and European law work. Its capacity to handle multinational transactions and files is reflected in its varied client base…The lawyers interact closely with colleagues in the renowned Brussels team, enabling them to further enhance their capability when it comes to major European cases. Clients praise the quality of service as ‘consistently brilliant across the firm.’”
Corporate/M&A: “This team is recognised as both versatile and consistent, with partners carrying out high-quality work in M&A, restructuring and capital markets.”
Dispute Resolution: International Arbitration and Litigation: “This dispute resolution practice is viewed as one of the top players in Paris, thanks to its ‘excellent arbitration team and top-class litigators.’ The group benefits from the firm’s strong international network… Commentators confirm that ‘the firm’s international profile is a major draw,’ and particularly praise the partners for ‘anticipating their clients’ needs.’”
Private Equity: High End: “This firm’s strength in corporate and M&A extends to the private equity field, where it remains a notable player on high-end transactions. The team frequently advises leading domestic and international funds.”
Projects: International Projects: “This robust three-partner practice carries out a wide range of energy, water, transportation, mining and telecommunications projects in Africa, the Middle East and Europe, acting for governments, multinational corporations, investment funds, banks and other international financial institutions. It often collaborates with the firm’s London-based team on these transactions. Mining deals make up the largest part of the department’s workflow, followed by hydroelectricity, oil and gas mandates. The lawyers tend to have a broad practice, encompassing not only projects but also areas such as corporate, capital markets and private equity. ... ‘Responsive, knowledgeable and pragmatic.’”
Tax: “This strong tax department handles significant domestic and international mandates.”
Germany
Banking & Finance: Acquisition Finance and Syndicated Lending: “This major firm has broad expertise in banking law in Germany, advising both borrowers and lenders. ... ‘Even though they perform really quickly, it’s high-quality and in-depth. An absolute benchmark.’”
Capital Markets: Debt and Equity: “This firm is especially popular on Rule 144A deals thanks to its outstanding international (and especially US) expertise. It represents underwriters, although not exclusively, and receives praise for its expertise in both debt and equity transactions. ... ‘When things were difficult, this firm jumped in to fill the gaps. The team worked together to guide the deal to the end.’”
Competition/European Law: “Storming into the top tier this year, this competition team offers the full range of advice on antitrust and European law issues to large international and German clients. Commentators affirm that the group ‘is excellent - it really stands out.’”
Corporate/M&A: “This big name in corporate/M&A has a broad base of expertise, although strengths are in the pharmaceuticals, energy and insurance industries. Clients pick out the team’s dedication and hands-on style and praise the lawyers’ ability to find the right tone when communicating with influential executives. ... ‘The quality of their work is brilliant. They’re responsive to all kinds of questions and have never been late on anything.’”
Tax: “The tax department at this US firm is acknowledged for its involvement in debt and equity capital markets deals and its strong international network. The team frequently advises on restructuring and M&A and has a strong track record acting for banks, especially on the development of new instruments.”
Italy
Banking & Finance “This firm offers an international but integrated team that works largely in LBOs, restructuring and M&A. ...‘Extremely diligent and responsive.’”
Capital Markets: Equity: “This firm is still perceived as a major player in Italy’s equity market, especially for deals that involve a US aspect. This is in significant measure due to its capability to draw on its large international network and provide all-encompassing advice to the client. ... ‘Whenever you hire this team, you are sure that the outcome will be favourable. It is always money well spent.’”
Competition/European Law “The Italian branch of this international giant is a unanimously recognised market leader in competition law.”
Corporate/M&A: “This firm handles a broad range of corporate transactions and works for a number of high-profile clients. The team is particularly noted for its strength on cross-border…The firm also provides a dedicated domestic service. ... ‘An excellent team with strong technical knowledge.’”
Dispute Resolution: “The market acknowledges this firm’s continuing growth and increasing presence in domestic and international litigation and arbitration, especially in areas of financial, corporate and antitrust disputes. ... The firm’s notable strength in international arbitration is perpetuated by its handling of several high-profile cases before the ICC and ICSID ... The multilingual team [is] appreciated by clients for its approachability, quick resolution of matters and adherence to fair play.”
Private Equity: “This global powerhouse has a robust private equity practice that covers general management of portfolio companies, acquisitions and restructurings. The team gains particular recognition for its cross-border expertise, and many of its clients are large international investment firms. Despite the challenging state of the market, the group has handled a number of impressive transactions and stands in good stead to continue its excellent work in 2011. ... ‘A terrific group of people: extremely helpful, honest and wonderful to work with.’”
Restructuring/Insolvency: “This firm’s proven strength in multi-jurisdictional and cross-border transactions sees it regularly assisting important domestic and international clients. ... ‘Offers both an expert understanding of the Italian market and an international perspective.’”
Tax: “The three-strong team at Cleary provides advice on the tax aspects of major cross-border deals, including multibillion-euro capital markets and structured finance transactions.”
TMT: Media and Telecommunications: “This firm continues to win plaudits for its exemplary work in the telecommunications and media sectors. The integrated team handles a broad spectrum of TMT matters, including regulatory, M&A and litigation issues. ... ‘One of the best firms I have ever worked with; the lawyers are extremely efficient and they give excellent strategic advice.’”
Russia
Banking & Finance “Mostly known for its heavy capital markets focus, this firm once again proved its banking credentials recently by bagging an impressive London-led debt restructuring.”
Capital Markets: “This “premier league” capital markets team is equally highly regarded by both issuers and underwriters. The group includes a number of very well-known partners who have ‘great depth of experience,’ sources agree. The firm’s instructions speak for themselves. ... Among the firm’s competitive advantages is its dedicated Russian desk in London, which regularly provides additional support.”
Corporate/M&A: “This 35-strong outfit climbs to the top of the table this year, though many of its key lawyers divide their time between M&A and capital markets mandates. ‘The team receives some very interesting instructions and maintains a number of significant corporate relationships,’ sources agree. ... ‘These lawyers are very constructive: they know when to press on and when to back off; this is an effective team capable of handling sizeable mandates.’”
Private Equity: “This global firm’s Moscow operation is known among market observers as a force in private equity… Sources characterise it as an internationally flavoured practice, with the lawyers also handling domestic transactions.”
Restructuring/Insolvency
TMT: “As a result of its long-standing relationships with a number of leading Russian telecoms names, the firm has built up an extensive track record in this area. Sources note its M&A and corporate work in the sector, in particular. Clients say the lawyers ‘work really well as a team and deliver quick results.’”
United Kingdom
Banking & Finance: Sponsors “This compact team is highly respected for its representation of private equity firms in high-value, multi-jurisdictional acquisition finance transactions. The firm’s banking and finance expertise also extends to leading practices in Italy, Belgium, Germany and Russia.”
Corporate/M&A: High-end Capability: “The long-established London office of Cleary Gottlieb houses ‘extremely skilled corporate partners,’ providing backing to the work of the firm’s practitioners in offices based across Western Europe and now in Moscow. It works to provide the combined wisdom of both local and overseas-trained lawyers, with sources full of praise for the firm’s ‘well-configured business structure, which understands what it means to be international.’ The practice is seen to be particularly strong with regard to mineral resources and financial institutions, although it can also be called upon to advise clients from other sectors.”
Praise from clients and peers is extremely positive and includes “The quality of the work and the responsiveness are outstanding,” and “The service is excellent – that’s why we go back to them again and again.”
The following Cleary Gottlieb practices are recognized for being among the best in Europe based on Chambers and Partners’ interviews with clients and competitors during the course of 2010:
Belgium
Banking and Finance: “Best known for its work on behalf of state entities, Cleary Gottlieb also receives instructions from financial institutions. ... ‘A strong reputation based on consistently high-quality work.’”
Competition/European Law: “This firm has one of the best reputed and largest competition groups in Brussels. The 13-partner team’s huge size and reputation enables it to cover the full range of EU and competition law matters and to be involved in complex and high-profile cases. ... ‘This practice is the Rolls Royce of EU competition law: the best that you can get, with zero failure or weakness. ... ‘Not many law firms can guarantee this kind of consistent quality with a large global footprint, but Cleary does.’”
Corporate/M&A: “This firm continues to impress clients with its broad expertise, and maintains a strong reputation in complex M&A transactions and equity capital markets. The team is frequently involved in some of the most high-profile deals in the market. ... ‘The lawyers are proactive and a pleasure to work with, definitely one of the best teams we have ever used.’”
International Trade/WTO: “This practice offers knowledge and experience in matters including EC proceedings, anti-dumping and countervailing duty cases, and state aid issues. ... ‘A well-known firm globally that does a very good job in Brussels.’”
Public Law: “This compact yet well-respected team focuses on the economic aspects of public law, often working in conjunction with the firm’s corporate and M&A practices. Described as a collection of ‘very smart and hard-working lawyers,’ the group frequently represents public bodies as well as private businesses on a variety of transactional and litigation matters.”
TMT: “The large TMT department at this US heavyweight is best known for its competition expertise, but covers a diverse range of areas including M&A, licensing and distribution agreements, domain name disputes and data protection issues under EU and national laws. ... ‘Can handle a huge volume of work.’ ‘Particularly strong on competition issues.’”
Europe-wide
Arbitration (International): “This firm’s Paris office is at the centre of its international arbitration practice. Its pan-European team of 15 partners focuses on public international law and investment treaty instructions…The Italian team is also highly recommended for its work in this area. ... ‘The team is innovative and demonstrates impressive attention to detail.’”
Capital Markets: Debt and Equity: “This U.S. firm is known for tackling the most complex, challenging deals, representing issuers, underwriters and other parties in both debt and equity transactions. It has market-leading presences in strategic European locations – the UK, France, Germany, Italy and Russia – and employs teams of versatile lawyers who offer strong expertise in multiple practice areas. Equity specialists also assist clients in the sector with relevant debt capital markets, finance, M&A or restructuring matters. ... ‘A top-notch capital markets firm.’ ‘They value their clients, big or small.’ ‘Consistently high quality – their HR is fantastic at hiring only the best people. They have a culture of people who work hard and are very smart.’”
Competition/European Law: “Peers and clients agree that this firm remains a leader in competition and European law across the region. The firm stands out for both its resources and the breadth of its practice, with the Europe-wide team including 19 partners and nearly 100 associates. It has recently been particularly successful in cutting-edge cases in the pharmaceutical sector. ... ‘The quality of the work and the responsiveness are outstanding.’ ... ‘The network of offices in key countries, combined with the varied expertise of the Brussels office, makes this firm ideal for any transaction in Europe involving multiple jurisdictions.’”
Corporate/M&A: “This elite U.S. firm has been active in the European market for more than 60 years and has grown to eight offices since its arrival on the continent. The Paris office was the first to be established and remains a jewel in the firm’s crown…The Russian team is a key player in energy transactions…The firm retains strong connections with its roots, often handling work that involves a US element. ... ‘An absolute benchmark in energy-related M&A.’”
International Trade/WTO: “This practice offers knowledge and experience in matters including EC proceedings, anti-dumping and countervailing duty cases, as well as state aid issues. ... ‘A well-known firm globally that does a very good job in Brussels.’”
Tax: “This high-quality US firm has a flourishing tax practice in Paris and recognised teams in Italy and Germany. It handles mostly corporate-flavoured work, as well as capital markets transactions. It also offers assistance in tax disputes and investigations. ... ‘Reliable and consistent, good to turn to in the good times and with the more difficult questions too.’”
Technology and Communications: “A top adviser on competition matters, according to sources, this firm has been involved in major deals in the sector and has especially strong teams in Belgium and Italy.”
France
Capital Markets: Derivatives and Equity: “A high level of partner involvement together with a flexible approach are vital to this firm’s superb reputation in the capital markets arena, particularly as regards equity, where it has almost unparalleled expertise and experience.”
Competition/European Law: “This firm boasts an excellent and long-standing reputation for competition and European law work. Its capacity to handle multinational transactions and files is reflected in its varied client base…The lawyers interact closely with colleagues in the renowned Brussels team, enabling them to further enhance their capability when it comes to major European cases. Clients praise the quality of service as ‘consistently brilliant across the firm.’”
Corporate/M&A: “This team is recognised as both versatile and consistent, with partners carrying out high-quality work in M&A, restructuring and capital markets.”
Dispute Resolution: International Arbitration and Litigation: “This dispute resolution practice is viewed as one of the top players in Paris, thanks to its ‘excellent arbitration team and top-class litigators.’ The group benefits from the firm’s strong international network… Commentators confirm that ‘the firm’s international profile is a major draw,’ and particularly praise the partners for ‘anticipating their clients’ needs.’”
Private Equity: High End: “This firm’s strength in corporate and M&A extends to the private equity field, where it remains a notable player on high-end transactions. The team frequently advises leading domestic and international funds.”
Projects: International Projects: “This robust three-partner practice carries out a wide range of energy, water, transportation, mining and telecommunications projects in Africa, the Middle East and Europe, acting for governments, multinational corporations, investment funds, banks and other international financial institutions. It often collaborates with the firm’s London-based team on these transactions. Mining deals make up the largest part of the department’s workflow, followed by hydroelectricity, oil and gas mandates. The lawyers tend to have a broad practice, encompassing not only projects but also areas such as corporate, capital markets and private equity. ... ‘Responsive, knowledgeable and pragmatic.’”
Tax: “This strong tax department handles significant domestic and international mandates.”
Germany
Banking & Finance: Acquisition Finance and Syndicated Lending: “This major firm has broad expertise in banking law in Germany, advising both borrowers and lenders. ... ‘Even though they perform really quickly, it’s high-quality and in-depth. An absolute benchmark.’”
Capital Markets: Debt and Equity: “This firm is especially popular on Rule 144A deals thanks to its outstanding international (and especially US) expertise. It represents underwriters, although not exclusively, and receives praise for its expertise in both debt and equity transactions. ... ‘When things were difficult, this firm jumped in to fill the gaps. The team worked together to guide the deal to the end.’”
Competition/European Law: “Storming into the top tier this year, this competition team offers the full range of advice on antitrust and European law issues to large international and German clients. Commentators affirm that the group ‘is excellent - it really stands out.’”
Corporate/M&A: “This big name in corporate/M&A has a broad base of expertise, although strengths are in the pharmaceuticals, energy and insurance industries. Clients pick out the team’s dedication and hands-on style and praise the lawyers’ ability to find the right tone when communicating with influential executives. ... ‘The quality of their work is brilliant. They’re responsive to all kinds of questions and have never been late on anything.’”
Tax: “The tax department at this US firm is acknowledged for its involvement in debt and equity capital markets deals and its strong international network. The team frequently advises on restructuring and M&A and has a strong track record acting for banks, especially on the development of new instruments.”
Italy
Banking & Finance “This firm offers an international but integrated team that works largely in LBOs, restructuring and M&A. ...‘Extremely diligent and responsive.’”
Capital Markets: Equity: “This firm is still perceived as a major player in Italy’s equity market, especially for deals that involve a US aspect. This is in significant measure due to its capability to draw on its large international network and provide all-encompassing advice to the client. ... ‘Whenever you hire this team, you are sure that the outcome will be favourable. It is always money well spent.’”
Competition/European Law “The Italian branch of this international giant is a unanimously recognised market leader in competition law.”
Corporate/M&A: “This firm handles a broad range of corporate transactions and works for a number of high-profile clients. The team is particularly noted for its strength on cross-border…The firm also provides a dedicated domestic service. ... ‘An excellent team with strong technical knowledge.’”
Dispute Resolution: “The market acknowledges this firm’s continuing growth and increasing presence in domestic and international litigation and arbitration, especially in areas of financial, corporate and antitrust disputes. ... The firm’s notable strength in international arbitration is perpetuated by its handling of several high-profile cases before the ICC and ICSID ... The multilingual team [is] appreciated by clients for its approachability, quick resolution of matters and adherence to fair play.”
Private Equity: “This global powerhouse has a robust private equity practice that covers general management of portfolio companies, acquisitions and restructurings. The team gains particular recognition for its cross-border expertise, and many of its clients are large international investment firms. Despite the challenging state of the market, the group has handled a number of impressive transactions and stands in good stead to continue its excellent work in 2011. ... ‘A terrific group of people: extremely helpful, honest and wonderful to work with.’”
Restructuring/Insolvency: “This firm’s proven strength in multi-jurisdictional and cross-border transactions sees it regularly assisting important domestic and international clients. ... ‘Offers both an expert understanding of the Italian market and an international perspective.’”
Tax: “The three-strong team at Cleary provides advice on the tax aspects of major cross-border deals, including multibillion-euro capital markets and structured finance transactions.”
TMT: Media and Telecommunications: “This firm continues to win plaudits for its exemplary work in the telecommunications and media sectors. The integrated team handles a broad spectrum of TMT matters, including regulatory, M&A and litigation issues. ... ‘One of the best firms I have ever worked with; the lawyers are extremely efficient and they give excellent strategic advice.’”
Russia
Banking & Finance “Mostly known for its heavy capital markets focus, this firm once again proved its banking credentials recently by bagging an impressive London-led debt restructuring.”
Capital Markets: “This “premier league” capital markets team is equally highly regarded by both issuers and underwriters. The group includes a number of very well-known partners who have ‘great depth of experience,’ sources agree. The firm’s instructions speak for themselves. ... Among the firm’s competitive advantages is its dedicated Russian desk in London, which regularly provides additional support.”
Corporate/M&A: “This 35-strong outfit climbs to the top of the table this year, though many of its key lawyers divide their time between M&A and capital markets mandates. ‘The team receives some very interesting instructions and maintains a number of significant corporate relationships,’ sources agree. ... ‘These lawyers are very constructive: they know when to press on and when to back off; this is an effective team capable of handling sizeable mandates.’”
Private Equity: “This global firm’s Moscow operation is known among market observers as a force in private equity… Sources characterise it as an internationally flavoured practice, with the lawyers also handling domestic transactions.”
Restructuring/Insolvency
TMT: “As a result of its long-standing relationships with a number of leading Russian telecoms names, the firm has built up an extensive track record in this area. Sources note its M&A and corporate work in the sector, in particular. Clients say the lawyers ‘work really well as a team and deliver quick results.’”
United Kingdom
Banking & Finance: Sponsors “This compact team is highly respected for its representation of private equity firms in high-value, multi-jurisdictional acquisition finance transactions. The firm’s banking and finance expertise also extends to leading practices in Italy, Belgium, Germany and Russia.”
Corporate/M&A: High-end Capability: “The long-established London office of Cleary Gottlieb houses ‘extremely skilled corporate partners,’ providing backing to the work of the firm’s practitioners in offices based across Western Europe and now in Moscow. It works to provide the combined wisdom of both local and overseas-trained lawyers, with sources full of praise for the firm’s ‘well-configured business structure, which understands what it means to be international.’ The practice is seen to be particularly strong with regard to mineral resources and financial institutions, although it can also be called upon to advise clients from other sectors.”