Banking & Finance: Denmark

THE FIRM Continuing its tradition as a pillar of strength in this field, this firm is known for its excellent reputation in the banking sector and strong international profile. The team houses some of the most experienced and established lawyers in the market and has the background to advise on a complex range of domestic and cross-border deals. Recent highlights include transferring retail bank customers from failing banks such as Eik Banki and Roskilde and large leveraged acquisition facility agreements with Nykredit and Nordea.

Sources say: "Really top-quality for banking, particularly regulatory issues. We trust these lawyers and they have unique commercial understanding."

KEY INDIVIDUALS Michael Steen Jensen impresses with the "really high quality and innovative character of his advice. His depth of experience is very difficult to match." 

Peers pick out Morten Nybom Bethe's ability to deal with complicated issues and his "expert approach to regulatory matters."

Sources say Morten Jackobsen is "a leading expert for aviation-related finance."

Likewise, "you can be sure the quality is the best you can get" when Tobias Linde is involved.

Jens Mathiasen is an "excellent practitioner in asset finance," well known for his ship finance work in particular.

THE FIRM This market-leading team offers a huge pool of resources and specialist expertise, and is active throughout the banking sector. The firm's formidable reputation and constructive approach are greatly appreciated by clients, as is its broad practice, covering general banking, ship finance, derivatives and project finance. The team's steady flow of high-profile work recently included advising the government's Financial Stability Company, and assisting Danske Bank with the restructuring and extension of credit facilities with Sanistål.

Sources say: "For the broad base and variety, nobody can touch Kromann. Absolutely on top in every legal area you can think of."

KEY INDIVIDUALS Sources recognise "one of the top leveraged finance and loan documentation experts" in Kim Rasmussen, whose broad practice spans many areas of banking. 

Acquisition finance lawyer Jakob Bernhoft is "well known and highly qualified." 

Thomas Kaas displays "top-level professional and personal skills," and focuses on shipping finance.

Clients are deeply impressed by Jens Blomgren-Hansen's "astonishing availability and deep commercial understanding" of credit export and project finance.

"Esteemed and long-experienced lawyer" Ulrik Jacobsen maintains his successful regulatory practice.

International securities expert Ian Tokley provides a global edge.

Susanne Schjølin Larsen is "very focused and sharp on complex top-end derivative documents."

THE FIRM This responsive, proactive group is celebrated for its ability to meet the demands of significant banking transactions. It is noted for its skill in refinancing, financial services and the returning acquisition and syndicated finance markets. With a strong international focus, the team recently negotiated DONG Energy's syndicated and bilateral revolving credit facilities, and acted for an international banking syndicate to create a refinancing facility for TDC.

Sources say: "Really aware of how to tackle tricky issues in negotiations, producing constructive suggestions to take the problem out of your hands."

KEY INDIVIDUALS Jørgen Permin "can quickly determine each case, and is able to answer questions on many areas."

Acquisition and loan finance expert Søren Valerius "creates an opening dialogue, arguing and explaining our position in a friendly manner to achieve good co-operation and results."

Clients say Thomas Maaberg Hansen is "a truly great, very technically gifted practitioner," whose broad experience includes cross-border project finance work.

Jacob Christensen is "instrumental in trying to reshape and shift policies" for clients.

Impressive, talented associate Rasmus Mandøe Jensen "makes a great contribution."

THE FIRM In a move perceived to have mutually benefited both teams, the Rønne & Lundgren banking group merged into Accura's team in August 2010. This has created a large department that focuses on transactional banking solutions, with the critical mass to handle high-end work. Highly active, the firm recently assisted Mizuho Bank with the restructuring of its financing for Scandlines, and advised DnB NOR on its financing of the acquisition of Handicare and Handimobil by Nordic Capital.

Sources say: "It has improved immensely by combining forces, and established an excellent presence with an easy-going, straight to the point, commercial approach."

KEY INDIVIDUALS Peers view Thomas Skjellerup as an excellent addition to the Accura team, adding real strength and derivatives expertise. "He knows his stuff, proving very helpful and productive to work with. He's pragmatic and commercial." 

Kim Toftgaard is highly recommended for many aspects of banking law. Clients say he has "good commercial grasp of the work, taking a proactive, hands-on role."

THE FIRM This firm merged with Philip in January 2012. The banking & finance group combines core competencies in finance specialisms such as derivatives and aviation finance, with experience and quality in general corporate finance matters. The former Philip lawyers add special expertise in finance leasing. Recently the team has advised international banks such as RBS and Goldman Sachs on large refinancing projects and syndicated loans, and it also regularly represents borrowers in similar work. In another high-profile mandate the firm advised Eik Banki on its challenges with the Danish Financial Supervisory Authority and the state's Financial Stability Company.

Sources say: "Able to contribute to commercial discussions responsively, and quickly advise on the commercial angle."

KEY INDIVIDUALS Interviewees describe Morten Krogsgaard as "creative, proactive, able to consider many viewpoints and capture the problem in simple terms."

Steen Halmind is "very accurate and certain of the issues, robust in negotiations and gives unwavering advice." 

"Extremely able finance lawyer" Steen Jensen serves clients with specialist knowledge of financial services regulation.

Finance leasing expert Erik Malberg is commended both for his approach to cases and his role in developing standards in this area. Clients say that he is "one of our finest solicitors, very sought after in the finance leasing market. His knowledge and ability in leasing law and finance are undoubtedly among the very best in the Danish legal community."

THE FIRM With prowess in several branches of finance work, this firm is well known for its high standards and excellent full-service practice. Refinancing and restructuring have been a key work stream in this sector, and the firm advised the Guarantee Fund for Depositors & Investors in connection with the Financial Stability Company's takeover of assets in several distressed banks. The team assisted DnB NOR with financing the purchase of a DKK1.9 billion real estate portfolio, and acts in several specialist areas of regulatory banking.

Sources say: "Brilliant quality within the firm; the lawyers are very smart and talented."

KEY INDIVIDUALS Well known for his exceptional regulatory knowledge, peers confirm Henrik Dahl to be a "very strong and skilled lawyer."

Sources say Karsten Kristoffersen's "strength is on loan documents; he is a great expert on these matters."

 Clients highlight fast-learning associate Jakob Echwald Sevel for his specialist knowledge of the credit card industry.

THE FIRM This pan-Nordic firm is a recent entrant into the Danish market, adding a Copenhagen office to those in Finland, Sweden and Russia. Targeting banking work as a key focus area, the firm is setting out to realise great ambitions for the practice, attracting the attention of clients such as Saxo Bank, KMG and SEB.

Sources say: "Very impressed: it is eager to make a name for itself and certainly applies the right approach to achieve those goals."

KEY INDIVIDUALS Billed as a talented young partner with the potential to climb high, Mikkel Fritsch impresses clients with the way he "adjusts and adapts his approach to deal with different parties within transactions." They also point out his strong international finance background.

THE FIRM This well-organised banking group serves finance clients in several areas, including asset finance, fund management and restructuring and refinancing. The firm has developed its project managing capabilities for complex cross-border work, particularly on continental asset finance deals throughout Europe.

Sources say: "The team displayed hunger and enthusiasm to do the work well. It gave the client a very clear picture and impressed throughout."

KEY INDIVIDUALS With his broad finance background, Claus Bennetsen is well respected throughout the market. Clients benefit from his technical knowledge, drive, communication and "a pragmatic approach which is mindful of the goal and overall aims of the project."

THE FIRM This compact, transaction-focused firm wins strong reviews for its responsive attitude and growing reputation for excellent understanding of banking matters. The team's strength in depth is evident from its recent work on the sale of Brørup Sparekasse to Saxo Bank, where the firm convinced the FSA to adopt a ground-breaking solution to finance the acquisition. 

Sources say: "Fast, open-minded and strong on finding solutions."

KEY INDIVIDUALS The lead partner in finance matters, Claus Molbech Bendtsen, is "very professional, giving us high-quality advice," say interviewees.