BANKING AND FINANCE
CHAMBERS EUROPE 2010 - CHAMBERS GLOBAL 2010 (Band 4)
THE FIRM This domestic player's focus on mid-market deals has enabled it to weather the economic storm better than most, with a steady flow of standard loans, project finance and refinancing keeping it busy. The department has nurtured strong relationships with a number of local banks, not least BSCH, which the group recently advised on EUR60 million of financing earmarked for the construction of a new office building, part of the bank's Financial City. Clients appreciate the finance team's ability to draw upon the expertise of other departments when required. The firm is a member of the CMS network of independent European firms, and has Spanish offices in Madrid and Andalusia.
KEY INDIVIDUALS José Antonio Rodríguez García is lauded for being "technically impeccable, frank and honest, which helps keep a client completely calm." Abraham Nájera, meanwhile, demonstrates "a level of availability and affordability that is difficult to find in today's market."
José Antonio Rodríguez: band 5
Abraham Nájera: band 5
EUROPEAN LEGAL 500 - 2010 (Band 3)
CMS Albiñana & Suárez de Lezo advised a Banesto-led syndicate on a €35m facility to Panstar. Other clients for Gracia Sainz and José Antonio Rodríguez’s team include Caja Madrid, Banco Santander and Banco Espirito Santo.
IFLR 1000 - 2010 (Tier 5)
CMS Albiñana & Suárez de Lezo's banking practice is led by Gracia Sainz Muñoz and José Antonio Rodríguez García, and is advising some of the country's largest banks. In December 2008 the firm, led by Rodríguez García, advised Banesto as part of a syndicate of banks on the €35 million loan to the Panstar group.
CAPITAL MARKETS
EUROPEAN LEGAL 500 - 2010 (Band 2)
CM Albiñana & Suárez de Lezo’s presence in capital markets continues to grow. Led by co-managing partners César Albiñana and Rafael Suárez de Lezo, the team advised Santander Investments on an aborted €100m bond issue. Other clients include Deutsche Bank and Banco Espirito Santo De Investimento.
IFLR 1000 - 2010
- Equity: Tier 4
- Debt: Tier 4
- Structured finance and securitization: Tier 3
CMS Albiñana & Suárez de Lezo's capital markets practice is led by César Albiñana Cilveti and Rafael Suárez de Lezo Cruz-Conde. According to competitors the firm has a history of activity in this area, but has lost some of its visibility of late. But the firm still boasts plenty of clients – most of them large banks.
The firm, led by Gracia Sainz Muñoz advised Banco Espirito Santo de Investimento on a programme for issuing promissory notes of the bank.
COMPETITION / EUROPEAN LAW
CHAMBERS EUROPE - 2010 (Band 3)
The competition department at this firm prides itself on its multidisciplinary approach, acting on a broad range of matters and aided when necessary by eight lawyers specialised in public and regulatory law. The firm also benefits from the know-how and resources of the CMS international network. Recent highlights include representing Citi Infrastructure Group, before the EC, in the acquisition of a controlling stake in Itinere Infraestructuras. Spanish energy giant Iberdrola recently instructed the group on multiple competition matters, including merger control and state aid. Practice head Jesús Alfaro is a specialist in competition and peers say: “In competition litigation, he is the best in Spain.” Clients praise partner Diego Crespo as “a perfectionist who is great at clarifying complicated issues.”
Jesús Alfaro: Band 2
Diego Crespo: Band 2
EUROPEAN LEGAL 500 - 2010 (Band 3)
Under the ‘outstanding’ Jesús Alfaro, CMS Albiñana & Suárez de Lezo’s team advised Acciona and Essilor in a range of merger control proceedings, Iberdrola on issues relating to state aid, and Sara Lee on restrictive practice investigations. Diego Crespo and Patricia Liñán are also recommended.
CORPORATE / M&A
CHAMBERS EUROPE 2010 - CHAMBERS GLOBAL 2010 (Band 3)
The Firm: Experience is the name of the game at this domestic player. The firm's policy of ensuring all its corporate lawyers gain courtroom experience gives it increased flexibility in these challenging times, allowing the team to intervene in contract disputes, securities commission challenges and pre-insolvency appeals. The department recently bagged one of the market's headline M&A deals, advising Citi Infrastructure Partners as it acquired Itínere from Sacyr Vallehermoso. The practice has offices in Madrid, Marbella and Seville, and is a member of the CMS network of independent European firms.
Key Individuals: Name partners César Albiñana Cilveti and Rafael Suárez de Lezo are "two of the most respected figures in the market." Suárez de Lezo was involved in the Citi Infrastructure deal although both he and Albiñana are seen as currently less hands-on in relation to deals. Nonetheless, clients appreciate that they "step up and supervise at all crucial moments." Luis Miguel de Dios Martínez is more active, singled out by one client for being "extremely supportive, and always precise in his judgements."
César Albiñana: Band 3
Rafael Suárez de Lezo: Band 3
Luis Miguel de Dios: Band 4
EUROPEAN LEGAL 500 - 2010 (Band 2)
‘A firm you can trust’, CMS Albiñana & Suárez de Lezo’s practice is jointly headed by co-managing partners César Albiñana and Rafael Suárez de Lezo. Recent highlights include advice to Citi Infrastructure Partners on its €7.89bn acquisition of Itínere Infraestucturas and subsequent sale of assets to Abertis Infraestructuras and Atlantia, and Inversiones Ibersuizas on its €215m acquisition through LBO of a 50% stake in Veinsur. Other clients include Acciona Energía Internacional and Logista.
IFLR 1000 - 2010 (Tier 3)
CMS Albiñana & Suárez de Lezo's corporate M&A practice is led by name partners César Albiñana and Rafael Suárez de Lezo Cruz-Conde.
Suárez de Lezo Cruz-Conde has been particularly active among the firm's practitioners this year and is the leading partner in two of the firm's most prominent deals. The first is advising Inversiones Ibersuizas in a leveraged buy out of 50% of the stock of Volvo truck concessionaire Veinsur for €215 million.
The second is a complex mandate advising Citi Infrastructure Partners on its acquisition of Itínere Infraestructuras from Sacyr Vallehermoso and then on the subsequent assets sale to Abertis Infraestructuras and Atlantia, in a deal worth €7.9 billion.
DISPUTE RESOLUTION
CHAMBERS EUROPE 2010 - GLOBAL 2010 (Band 2)
This mid-sized, domestic firm has solid portfolio of clients in dispute resolutions, where it covers litigation and arbitration and its full-service offering provides clients with a value-added, joined-up service. Similarly, its bases in Madrid, Seville and Marbella allow to maintain close working relationships with clients across the country. Carlos Aguilar Fernández leads the dispute resolution practice and is described as “one of the best litigators in Spain”. Juan Ignacio Fernández Aguado is focused mainly on commercial and public law litigation as well as arbitration. José Antonio Rodríguez Álvarez, who recently joined from Baker & McKenzie, is focused on commercial litigation and international arbitration.
Carlos Aguilar: Band 1
José Antonio Rodríguez Álvarez: Band 3
Juan Ignacio Fernández-Aguado: "Up and Coming"
EUROPEAN LEGAL 500 - 2010 (Band 3)
CMS Albiñana & Suárez de Lezo hired Baker & McKenzie Madrid S.L.’s ‘extraordinary’ practice head José Antonio Rodríguez. It was a further boost to a ‘fast-growing’ practice, which also includes the recommended Carlos Aguilar Fernández and Juan Ignacio Fernández-Aguado.
DISPUTE RESOLUTION: CORPORATE CRIME
CHAMBERS EUROPE - 2010 (Band 3)
At this mid-sized, full-service outfit, white-collar crime falls under the remit of the dispute resolutions department. The firm handles a broad range of issues including fraud, employment and insurance. Carlos Aguilar Fernández has a strong practice in IP and competition and focuses mainly on economic criminal law.
Carlos Aguilar: Band 4
EMPLOYMENT
CHAMBERS EUROPE - 2010 (Band 4)
This employment practice represents domestic and international companies in Spain and benefits from strong relationships with the CMS global network, particularly the German, UK and French offices. The Team advises a number of companies on day-to-day issues, including Nokia Siemens Network and Banco Espirito Santo. Termination of employment agreements, litigation and restructuring procedures also make up the firm´s workload. According to market commentators, partner and main employment contact Diana Rodríguez is “approachable, available and experienced”.
Diana Rodríguez: Band 4
ENERGY & NATURAL RESOURCES
CHAMBERS EUROPE - 2010 (Band 3)
Although several members of the energy and natural resources at this pan-European firm recently moved to Linklaters, it maintains a solid reputation in the market, particularly for its regulatory advice. Sources point above all to its close association with Iberdrola and Acciona. It has recently represented these two major Spanish players on a variety of matters, mainly of a regulatory nature, including advising Acciona Energía on its integration of the renewable energy shares of Acciona and Endesa. The partners now leading the group and devoting the most time to energy work are Félix Plasencia and Javier Torre de Silva, both of whom are specialists in public and regulatory law. The team works closely with lawyers from the competition, corporate, finance and other practices, so that its advice is underpinned by multidisciplinary knowledge.
INTELLECTUAL PROPERTY
EUROPEAN LEGAL 500 - 2010 (Other recomended firms)
PRIVATE EQUITY
CHAMBERS EUROPE - 2010 (Band 3)
The private equity team at the Spanish outpost of the CMS network benefits from the firm´s pan-European reach, multidisciplinary practice areas and particular strength in corporate matters. In a recent complez deal the team advised Citi Infraestructure Investors Management on its EUR 7 billion acquisition of Spanish listed company Itínere Infraestructuras from Sacyr Vallehermoso, and the subsequent asset sale to Abertis Infraestructuras and Atlantia. Partner José Miguel Martín-Zamorano Llamas has wide-ranging knowledge of corporate matters and long experience in the private equity field. He was heavily involved in the Citi deal and also advises clients such Inversiones Ibersuizas and Mercapital.
José Miguel Martín-Zamorano: Band 3
PROJECT FINANCE
CHAMBERS EUROPE - 2010 (Band 5)
The Project Finance department at this pan-European firm has been noticeably active in infrastructure and energy deals over the past year, and is praised for its “proactivity, availability and sound administrative law input”. Partner José Antonio Rodríguez leads the practice and has a busy year advising clients such as Santander, La Caixa and Caja Madrid on a range of projects, including several photovoltaic plants. Senior Associate Abraham Nájera has also been visible and active.
EUROPEAN LEGAL 500 - 2010 (Band 3)
CMS Albiñana & Suárez de Lezo’s project finance practice is built around its close relationship with Banco Santander, recently advising it alongside Banesto and Banco Sabadell on the €15m financing of Compañía Minera Río Tirón’s construction of a new crystallisation plant in Cerezo de Río Tirón. Gracia Sainz and José Antonio Rodríguez are recommended.
IFLR 1000 - 2010 (Tier 3)
The visibility of CMS Albiñana & Suárez de Lezo's project finance practice owes much to the firm's relationship with Santander. The majority of the firm's mandates have been with the Spanish bank, one of the most recent being in March 2009. Here José Antonio Rodríguez García, one of the banking and finance practice's co-heads, led a team advising the bank as part of a syndicate, which also included Banesto and Banco Sabadell, on the €15 million loan to the mining group Companía Minera Río Tiròn for the construction of a new crystallisation plant and other investments.
PUBLIC LAW
CHAMBERS EUROPE - 2010 (Band 2)
The public law practice at this pan-European firm is based mainly in Madrid, but it also has a presence in Sevilla and Marbella. The group covers full spectrum of public law advice, but is particularly well regarded for its regulatory work. It is representing Acciona Energía in several matters relating to the integration of the renewable assets of Endesa and Acciona and in various regulatory issues. In the hospital sector, the team is assisting Unilabs with conflict issues and public contracts concerning several hospitals around the country. Following the recent departure of José Giménez, Félix Plasencia and Javier Torre de Silva are the department´s best-known names, and are considered “hard working lawyers with a deep understanding of administrative law”.
Javier Torre de Silva: Band 4
Félix Plasencia: "Up and coming"
REAL ESTATE
EUROPEAN LEGAL 500 - 2010 (Other recomended firms)
RESTRUCTURING / INSOLVENCY
CHAMBERS EUROPE 2010 - GLOBAL 2010 (Band 3)
This domestic outfit has a policy of having all lawyers gain courtroom experience, an initiative that pays dividends in a distressed market. Insolvency is handled from within the disputes department and is the team´s favoured disciplines, although refinancing and restructuring assistance is also provided when required. The firm represents creditors, such as Elyo Suez and Axima in regard to the insolvent Grupo Begar, an debtors, such as Fun & Basics. Juan Ignacio Fernández Aguado is a respected litigation lawyer and insolvency specialists. Clients enthuse that he has “great analytical capacity and technical knowledge, as well a practical focus and superb court experience”.
Juan Ignacio Fernández-Aguado: Band 2
IFLR 1000 - 2010 (Tier 3)
CMS Albiñana & Suárez de Lezo has a well-regarded restructuring and insolvency practice led by Juan Ignacio Fernández Aguado. The firm represents financial institutions such as Caja Madrid, Banco Espirito Santo and Deutsche Bank in prominent insolvencies, like those of real-estate groups Inmobiliaria Colonial and Habitat.
TAX
CHAMBERS EUROPE - 2010 (Band 4)
The recent hire of former Baker & McKenzie tax star Felipe Alonso is testament to this firm´s ambitions in the sector. His acquisition considerably srengthens the team´s presence in taxlitigation, expanding the practice far beyond support work fo corporate and M&A operations. Recent highlights include advising Natura Brazil on the tax implications resulting from its international corporate structure, involving multi-jurisdictional tax advice. Alonso is widely regarded as number-one player in tax litigation and, as on client put it, “when he opens his mouth to say something, you just know he´s going to be right”. Santiago Díez focuses on restructuring and international taxation.
Felipe Alonso: Band 1
Santiago Díez: Band 4
EUROPEAN LEGAL 500 - 2010 (Band 3)
CMS Albiñana & Suárez de Lezo’s tax practice focuses on tax administration for private banks and advising on the asset management of those banks’ clients. In 2009, Felipe Alonso joined the firm from Baker & McKenzie Madrid S.L., and now co-heads the department alongside Santiago Díez, who led the team in advising Inversiones Ibersuizas on the acquisition of 50% of the capital stock of Veinsur (the main European concessionaire of Volvo Trucks). The team also advised on the incorporation of a new renewable energy company established by Acciona and Endesa.
TMT TELECOMMUNICATIONS
CHAMBERS EUROPE - 2010 (Band 3)
2009 was a year of change for the TMT practice of this international firm, with the departure of ranked telecommunications lawyer José Giménez to Linklaters and the arrival of a number or lawyers to the firm´s regulatory and procedural practices. The firms retains some prestigious clients in the area, having handled a number of matters for Telefónica and working with Ayuntamiento de Madrid in some city-wide Internet and teleco work. In 2010 the market will see hoe the firm incorporates the new arrivals and refocuses its TMR practice. New arrival Pablo Dorronsoro Martín is the contact partner for this area.
EUROPEAN LEGAL 500 - 2010 (Other recomended firms)
WEALTH MANAGEMENT
CHAMBERS EUROPE - 2010 (Band 3)
Divided between Madrid, Marbella and Seville, this highly praised wealth management group enters the rankings this year. The practice contained within the firm´s civil law department, and advises individuals, family offices and private banks on civil law, tax, inheritance, litigation and other issues. The group has close links with the Swiss branch of the firm, providing it with substantial work for private client based in Switzerland but with interests in Spain, and vice versa. Department head Javier Torre de Silva is a specialist in civil law but handles a wide range of matters. He attracts the highest praise from clients for his “superb legal knowledge, common sense, speed of response and creativity”. A recent arrival from Baker & McKenzie, Felipe Alonso is specially skilled in tax litigation and is a well-known adviser to family businesses.
Felipe Alonso: Band 3
Javier Torre de Silva: Band 4