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Clifford Chance S.L.

Madrid

Clifford Chance LLP - London
  • Paseo de la Castellana 110
  • Madrid
  • Madrid
  • Spain
  • 28046
  • Managing Partner: David Childs
  • Senior Partner: Malcolm Sweeting
  • Number of partners: 576
  • Number of fee-earners: 3360

Firm Overview: Clifford Chance is one of the world’s pre-eminent law firms with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, the firm prides itself on its approachable, collegiate and team based way of working. Clifford Chance always strives to exceed the expectations of its clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not for profit organisations. The firm provides the highest quality advice and legal insight.

Main Areas of Practice:
Capital Markets:

The capital markets practice comprises over 420 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres. It provides practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structure securities.

Corporate:
The corporate practice, which comprises over 790 partners and lawyers worldwide, provides clients with a single law firm that combines a market leading practice with specialist, local expertise. Its global transaction capability includes English, US and civil law expertise in the key financial centres across the UK, Europe, the Americas, Middle East and Asia-Pacific. The practice represents many of the world’s leading multinational and national corporations, financial institutions and sponsors on the largest and most complex transactions across the globe – from public takeovers, mergers and cross border acquisitions to strategic alliances, joint ventures, outsourcings and restructurings. The firm’s cross-border M&A experience is enhanced by a depth of sector expertise across financial institutions, energy and infrastructure, TMT, insurance, healthcare, private equity, real estate, funds and investment management, industrials, consumer goods and retail and transport and logistics.

Finance:
Clifford Chance’s finance practice, which comprises over 700 legal advisers worldwide, is the leading international finance practice of any law firm. The practice provides highly commercial and practical advice across the full spectrum of financial products including syndicated lending and leveraged and acquisition finance, asset finance, derivative products, project finance, financial regulatory, insolvency, restructuring and structured finance. It advises regulatory authorities, supranational bodies, governments and government agencies and actively helps to shape the market through working with market organisations to develop documentation, policy and best practice.

Litigation & Dispute Resolution:
The firm has a team of more than 470 litigators internationally and has experience in virtually all segments of the business and financial markets across multiple jurisdictions. The lawyers work with clients to resolve disputes efficiently and effectively – whether through arbitration, litigation or other techniques. They also work with clients to develop compliance programmes that minimise future litigation risks. The firm is currently representing clients in some of the largest and most significant actions, particularly in the areas of antitrust / competition litigation, white collar, regulatory, insurance, banking securities and international arbitration.

Real Estate:
Clifford Chance’s leading real estate practice offers UK, European, Asian and US real estate capability. Over 300 partners and lawyers worldwide advise the real estate industry’s leading players on the entire property ‘life-cycle’ from the initial acquisition, development, leasing, joint venturing and financing through to the final exit, as well as tax structuring, PFI/PPP, corporate outsourcing, planning, environment and litigation.

Tax:
Clifford Chance has one of the world’s largest international tax groups within a single law firm, with over 200 tax advisers worldwide. The firm is uniquely placed to provide leading edge advice to clients, and the practice is structured on an integrated global basis. Local tax groups within the practice work closely with areas such as securitisation, securities, M&A, corporate restructuring, private equity, real estate and funds. The pan-European VAT Group advises on all areas of VAT and has particular strength advising on novel and complex issues in the structured finance, financial services, corporate finance and real estate sectors.

Employment, Employee Benefits & Pensions:
Clifford Chance’s Employment, Employee Benefits and Pensions Groups comprises over 150 legal advisers worldwide. The teams of experienced employment, employee benefits, ERISA, immigration and pensions specialists work with clients from a wide range of sectors to address local and cross-border issues.

Offices: 

ABU DHABI: Tel: +971 2 419 2500

AMSTERDAM: Tel: +31 20 7119 000

BANGKOK: Tel: +66 2 401 8800

BARCELONA: Tel: +34 93 344 22 00

BEIJING: Tel: +86 10 6505 9018

BRUSSELS: Tel: +32 2 533 5911

BUCHAREST: Tel: +40 21 66 66 100

CASABLANCA : Tel: +212 52 013 2080

DOHA: Tel: +974 4491 7040

DUBAI: Tel: +971 4 362 0444

DÜSSELDORF: Tel: +49 211 43 550

FRANKFURT: Tel: +49 69 71 99 01

HONG KONG: Tel: +852 2825 8888

ISTANBUL: Tel: +90 212 339 0001

JAKARTA:* Tel: +62 212 988 8300

KYIV: Tel: +38 044 390 5885

LONDON: Tel: +44 20 7006 1000

LUXEMBOURG: Tel: +352 48 50 50 1

MADRID: Tel: +34 91 590 75 00

MILAN: Tel +39 02 806 341

MOSCOW: Tel: +7 495 258 5050

MUNICH: Tel: +49 89 21632 0

NEW YORK: Tel: +1 212 878 8000

PARIS: Tel: +33 1 44 05 52 52

PERTH: Tel: +61 8 9262 5555

PRAGUE: Tel: +420 2 22 555 222

RIYADH: Tel: +966 1 481 9700

ROME: Tel: +39 06 422 911

SÃO PAULO: Tel: +5511 3049 3188

SEOUL: Tel: +822 6353 8100

SHANGHAI: Tel: +86 21 6335 0086

SINGAPORE: Tel: +65 6410 2200

SYDNEY: Tel: +61 2 8922 8000

TOKYO: Tel: +81 3 5561 6600

WARSAW: Tel: +48 22 627 1177

WASHINGTON DC: Tel: +1 202 912 5000

*Linda Widyati & Partners in association with Clifford Chance

Branches

Banking & Finance - Spain

Basic facts about the department
- 6 partners
- 22 other qualified lawyers

What the team is known for Diverse practice advising on the full spectrum of financial products, including syndicated lending, leveraged and acquisition finance, as well as asset finance. Deep expertise in the infrastructure, energy and financial sectors.

Strengths (Quotes mainly from clients)
"Clifford Chance has an excellent network and is viewed as one of the key firms in the finance arena in Spain because of the quality of its work. The team knows the most recent legal opinions and its advice is always consistent with the latest case law."

"A very well-rounded firm. It has Spain, UK and US-qualified specialists and can cover the multi-jurisdictional aspects of deals."

Work highlights Represented the agent and lenders in the financing of Bain Capital's EUR1 billion acquisition of Atento.

Advised Banco Santander on the EUR82 million financing of the demolition and refurbishment of the Canalejas buildings in Madrid. Also acted on the related EUR37 million loan for the VAT.

Notable practitioners  

Carlos Hernández-Canut assisted ONO with the refinancing of its existing syndicated facilities by means of a new senior EUR2.4 million and USD1.3 million bank facilities agreement. "He provides highly valuable advice; you can trust him," say clients.

Sources single out Alberto Manzanares for his expertise in syndicated loans and refinancings. "He's one of the best guys I've met; a wonderful lawyer," remarks an interviewee. 

Stuart Percival heads the English law group and comes highly recommended by clients, who note: "He's obviously got an immense amount of experience on UK deals. He provides the best value and when there are problems he works with the counterparty to come to an agreement." 

Sources say project finance expert José Guardo is "phenomenal. One of the top lawyers in Spain."

Carl Fitzgerald advised Parque de Atracciones de Madrid on the amendment and extension of an EUR847 million senior facility agreement.

Newly made partner Antonio Henriquez heads the capital markets English law practice. He assisted Prosegur with the issue of EUR500 million of 2.75% ordinary notes.

Epifanio Pérez climbs the rankings following rave reviews: "He's an all-rounder; he's very good technically and also has a background in economics and finance, which means he understands our needs."

Interviewees say Rodrigo Uría is "solid technically and has handled a number of complex deals in the last two years. He inspires confidence in clients."

Significant clients Banco Santander, JPMorgan, HSBC, La Caixa, BBVA.   

Capital Markets - Spain

Basic facts about the department
- 5 partners
- 13 associates

What the team is known for Outstanding track record in debt capital markets, securitisations and structured finance transactions. Expertise in domestic and international issues of bonds and capital securities. Increasing presence in equity capital markets, including IPOs and rights issues.

Strengths (Quotes mainly from clients)
"The lawyers are excellent professionals with strong knowledge. They always get back to us promptly and meet deadlines. They also work very well with their colleagues in the UK."

What's new? Antonio Henríquez was made partner in May 2013. He leads the UK law capital markets practice.

Work highlights Advised Citibank España on the securitisation of its Spanish credit card portfolio.

Assisted Prosegur with a EUR500 million 2.75% ordinary notes issue.

Notable practitioners

Sources say practice head José Manuel Cuenca "has always been recognised as a big name in debt capital markets." He advised Citibank España on the securitisation of its Spanish credit card portfolio.

Yolanda Azanza assisted the lead managers with Mapfre's EUR1 billion senior bond issue.

Recognised corporate lawyer Javier García de Enterría advised Ezentis on a EUR20 million rights issue.

Interviewees confirm that Eduardo García has been very active on debt capital markets deals. He worked with the London office advising Avis Budget on a securitisation programme for its operations in several European jurisdictions.

Significant clients Barclays Bank, Crédit Agricole Corporate and Investment Bank, HSBC Bank, Crédit Suisse Securities, Goldman Sachs International.

Competition/European Law - Spain

Basic facts about the department
- 1 partner
- 12 other qualified lawyers

What the team is known for Excellent track record representing clients in antitrust litigation, abuse of dominant position and cartel investigations before Spanish and European courts. Also highly active in cross-border merger control.

Strengths (Quotes mainly from clients)
"Very warm people, keen to nurture the customer relationship. We feel they are an extension of our in-house team."

"The firm's extensive international network is extremely useful when working in different jurisdictions." 

What's new? IAG and Samsung are some of the firm's new clients this year.

Work highlights Represented Swiss Reinsurance Company in an appeal against a CNC decision to impose a EUR22.6 million fine for price-fixing practices.

Represented Alliance One International in four appeals before the ECJ concerning raw tobacco cartel claims.

Notable practitioners  

Department head Miguel Odriozola is described by sources as "responsive, sharp and business-minded. He is one of the leading experts in competition law. US-educated, he is perfectly fluent in English and comes up with excellent recommendations."

Antitrust partner Begoña Barrantes earns excellent feedback: "She was instrumental in getting a successful result. It is a privilege to work with her."

Associate Carlos Vergez is highlighted for his friendly manner and ability to deliver high-quality client service.

Foreign associate Ana Vide enters the rankings thanks to excellent feedback from clients, who describe her as "a hard-working person, available at all times and with valuable expertise in our industry." She is qualified in Portugal and has been working in Spain for the last eight years.

Significant clients Oracle, Telefónica, Antena 3, IAG, Endesa.  

Corporate/M&A - Spain

Basic facts about the department
- 5 partners
- 25 other qualified lawyers

What the team is known for A high-end corporate practice with deep expertise in corporate finance, acquisitions, IPOs and joint ventures. Additional strength in mergers, private equity transactions and LBOs.

Strengths (Quotes mainly from clients)
"The team did an excellent job, not just with the documentation but also in meetings. It prepared all legal arguments extensively and defended our interests well in negotiations. The work was very well structured and all sides were happy in the end." 

What's new? New client wins include Barclays Infrastructure, Actis, AXA Private Equity and Macquarie Infrastructure Group.

Work highlights Assisted ACS with several divestments, including the EUR223.4 million sale of nine wind farms. 

Advised Abertis Infraestructuras on the acquisition, sale and leaseback of 500 telecoms infrastructure towers.

Notable practitioners 

Market leader Javier García de Enterría receives impressive client feedback: "His knowledge of the international corporate market is extraordinary. I don't just mean his legal expertise, but also of how companies work. He works very closely with the client."

Clients praise Javier Amantegui, with one stating: "He takes a practical approach to solving issues and gives the best advice because he always takes into account both legal and commercial aspects."

Practice head José María Fernández-Daza continues to impress clients, who say: "He's outstanding; his personal and professional qualities are like nobody else's. Fantastic in negotiations."

New managing partner Jaime Velazquez enters the rankings following glowing feedback: "He's very good in negotiations: he knows where to push and where the other side could give in a bit. He's fast, rigorous and available all day."

A newcomer to the rankings, senior associate Luis Alonso earns warm comments from clients: "He is practical, solution-oriented and persevering in negotiations. He convinces himself that he's right, which makes him a powerful negotiator."

Significant clients Abertis Infraestructuras, Santander, Abengoa, CaixaBank, Gas Natural.

Dispute Resolution - Spain

Basic facts about the department
- 4 partners
- 25 other qualified lawyers

What the team is known for Diverse practice covering business, insurance and M&A litigation. Additional strength in domestic as well as ICC and ICIA arbitration. Impressive clientele of major international and domestic corporates.

Strengths (Quotes mainly from clients)
"I'd recommend the team for litigation because of its experience and dedicated lawyers."

"The firm does domestic litigation as well as international work. It is definitely a market leader."

What's new? Barclays, Ernst & Young and Allianz are some of the firm's new clients this year.

Work highlights Represented Martinsa-Fadesa in a liability dispute against its former chairman and controlling shareholder, Manuel Jove.

Advised Abengoa on a EUR81 million claim against Mexico under the bilateral investment treaty (BIT) between Mexico and Spain.

Notable practitioners

Practice head José Antonio Caínzos earns strong feedback from a variety of sources: "Caínzos is a magnificent litigator, a good speaker and an experienced practitioner."

Restructuring expert Iñigo Villoria focuses on insolvency-related disputes. Interviewees describe him as "technically impeccable."

Ignacio Díaz enters the rankings following positive client comments: "He's very astute in his analysis of problems. He's conscientious and I'd highly recommend him."

Significant clients Iberia, ACS, Abengoa, Fondo de Garantía de Depósitos, Endesa.

Employment - Spain

Basic facts about the department
- 1 counsel
- 5 other qualified lawyers 

What the team is known for Exceptional expertise in restructurings, collective negotiations and litigation. Particular focus on complex matters arising in the banking and industrial sectors.

Strengths (Quotes mainly from clients)
"Their service is excellent, not only in terms of technical quality but also speed."

"The lawyers are flexible and I very much appreciated their practical approach and the solutions they provided." 

Notable practitioners  

Department head Juan Calvente continues to impress clients, who note that "he is an excellent communicator with much experience and knowledge."

Significant clients Orizonia Group, Kimberly-Clark, Citigroup, Banco Santander, FROB.

Energy & Natural Resources - Spain

Basic facts about the department
- 5 partners
- 16 other qualified lawyers

What the team is known for A prestigious practice with substantial experience in the regulatory, finance, corporate and competition matters affecting energy clients. Noted for its outstanding international network.

Strengths (Quotes mainly from clients) 
"A highly pragmatic team which focuses on securing the deal."

"The lawyers are responsive, proactive and pragmatic. When we had questions they were available to talk and find a solution."

Work highlights Represented Endesa in several legal proceedings against the Spanish Ministry of Industry concerning electricity tariffs.

Notable practitioners  

Leading lawyer Juan José Lavilla is "generally recognised as the most competent litigator for regulatory and energy issues. He is really the best, more technical, scientific and academic than others," raves a peer.

Clients highlight administrative law expert José María Fernández-Daza as "a specialist in infrastructure as well as energy. An excellent professional - it is a pleasure to work with him." 

Significant clients Endesa, Iberdrola, CEPSA, Enel Green Power, EFET.

Environment - Spain

Basic facts about the department
- 1 partner
- 8 other qualified lawyers

What the team is known for A highly skilled team handling all aspects of environmental law, including transactions, regulatory issues and environmental liability and risk assessment. Particularly strong in carbon trading and litigation.

Strengths (Quotes mainly from clients)
"The most positive aspect is the character of the lawyers and the experience they bring to the table - their rigour and dedication are phenomenal."

"The team understands client needs perfectly, with a commercial sensitivity that we really appreciate."

Work highlights Advised Endesa on the legal consequences of a possible decision not to commence the second phase of a gas capture and storage project. 

Assisted Banco Santander with the financing of three wind farms currently under construction in Uruguay.

Notable practitioners 

Department head Juan José Lavilla is an experienced and well-recognised practitioner, highlighted by clients as "a rigorous, extremely sharp lawyer who knows the letter of the law inside out." 

Significant clients EDF, Iberdrola, Endesa, Enel Green Power, Urbaser.

Insurance - Spain

Basic facts about the department
- 4 partners
- 1 counsel
- 10 other qualified lawyers

What the team is known for Advises on insurance, reinsurance and pension fund matters, covering M&A, regulatory, litigation, finance, tax and employment. Also able to handle multi-jurisdictional mandates. 

Strengths (Quotes mainly from clients)
"The fact that it can cover various areas is a great advantage." 

"The advice was pragmatic and relative to the needs of the business." 

Work highlights Advised Generali on the restructuring of the real estate management business of the group in Spain.

Represented Mutua Madrileña in civil proceedings brought by third parties claiming indemnification for fire damage to an industrial estate.

Notable practitioners  

Corporate counsel Jaime Sánchez Santiago impresses clients: "He doesn't send long summaries - his work is practical and business-oriented. He really brings added value."

Significant clients Zurich, Allianz, AXA, Swiss Re, AIG, Aviva.

Intellectual Property - Spain

Basic facts about the department
- 2 partners
- 15 other qualified lawyers

What the team is known for Maintains its market-leading position. Handles an array of cases covering IP rights, trade mark, copyright, patent and unfair competition, as well as e-commerce. Offers a full range of advisory and contentious capabilities, including multi-jurisdictional IP litigation and arbitration, regional enforcement and licensing.

Strengths (Quotes mainly from clients)
"The team is very well known in Spain, having earned respect for its patent work."

"It has a lot of great people on board, different partners and associates doing good work and offering a lot of manpower."

What's new? Linde, Leo Pharma, Ekologic Seeds, Danone and Bayer-Schering are new client wins.

Work highlights Represented Samsung Electronics in an infringement and unfair competition case against Apple.

Represented Nestlé, Nestec and Nestlé Nespresso in patent, trade mark and unfair competition proceedings against Sara Lee Southern Europe.

Notable practitioners  

Practice head Miquel Montañá is regarded by sources as "the best lawyer in Spain." Clients appreciate that he "is persistent and always tries to think of new solutions, so he continues to create case law."

Patent expert Isabel Carulla "looks at things with fresh eyes and is really nice to work with," say market sources.

Montserrat López-Bellosta is sought after for her experience in IP litigation. She recently represented two companies that are part of the MANGO Group in proceedings brought by Paule Ka, relating to the infringement of an EU non-registered design and copyright.

Significant clients Pfizer, Nestlé Nespresso, Novartis, Saint Gobain, Eli Lilly.

Life Sciences - Spain

Basic facts about the department
- 2 partners
- 14 other qualified lawyers

What the team is known for Offers in-depth knowledge of IP, competition, regulatory and compliance matters in the life sciences sector. Acts on behalf of pharmaceutical, healthcare and chemical companies, and remains a favourite for patent litigation.

Strengths (Quotes mainly from clients)
"Pretty close to perfection: the firm has a lot of manpower and all the lawyers are solid, including at associate level. They have high standards in all the things that we value, so we don't look elsewhere."

"The firm always offers the highest quality, responsiveness and efficiency."

Work highlights Represented Astellas Pharma in patent infringement proceedings relating to medicinal products containing Tamsulosin.

Advised Almirall on the labelling requirements of drugs presented in aerosol format.

Notable practitioners  

Department head Miquel Montañá maintains an excellent reputation in patent litigation and IP issues within the pharmaceutical sector. "He's extremely good at explaining things and stupendous in court," say clients.  

Isabel Carulla enjoys a solid reputation. Clients describe her as "highly methodical. She responds very quickly and lets nothing escape her attention."

Montserrat López-Bellosta is well known for her expertise in regulatory issues. Clients admire her creativity and client relationship skills. 

Significant clients Isdin, Eli Lilly, Astrazeneca, Almirall, Baxter Healthcare.

Private Equity - Spain

Basic facts about the department
- 4 partners

What the team is known for A highly experienced team, well versed in domestic and international private equity matters. Outstanding expertise in all areas from fund formation to investment, with a keen focus on transactional work.

Strengths (Quotes mainly from clients)
"One of the most positive aspects of working with this team was its availability, especially at partner level. Response times are very rapid indeed and we had a very good relationship."

"A great level of service; the lawyers are really a step above the rest when it comes to financing."

Work highlights Advised Mercapital on its acquisition of plastics manufacturer Betapack Group.

Notable practitioners

Javier Amantegui maintains his solid reputation as one of the foremost private equity lawyers in Spain. Clients highlight him as "a stupendous lawyer; detail-oriented, hands-on, straightforward, pragmatic and flexible."

Jesús Durán continues to be recognised within the market and is praised by clients as "thoughtful, hard-working and very efficient."

Samir Azzouzi continues to grow in strength and market recognition. Clients note that "he is an absolute machine when it comes to work, very commercially minded and pragmatic. He provides quick, well-analysed responses."

Thais García is certainly up-and-coming within the market. Clients describe her as "technically very good, detail-oriented and diligent." 

Significant clients Actis, Bridgepoint, N+1 Mercapital, Carlyle Group, Nazca Capital.

Projects - Spain

Basic facts about the department
- 6 partners
- 22 other qualified lawyers

What the team is known for Well versed in all forms of bank and capital markets financing. Unparalleled expertise in the financing of energy and infrastructure projects. Particularly active in project bond transactions and cross-border deals involving emerging markets, especially in Latin America and Eastern Europe.

Strengths (Quotes mainly from clients)
"An authority in this area. My first option - I choose this firm whenever I can."

"The best in Spain. In terms of client attention, it feels like working with a boutique. A firm that competes in quality rather than price."

Work highlights Advised Banco Santander on the privatisation of the Greater Barcelona water supply system.

Assisted public infrastructure fund Axis with the financing of a new hospital in the Vigo region, and a road in the Basque country.

Notable practitioners  

"Brilliant" José Guardo enjoys much prestige for his expertise in project finance: "He is proactive and constructive. One of those lawyers who try to eliminate obstacles and focus on relevant matters to reach a constructive agreement," say clients. 

"Highly intelligent" Alberto Manzanares "is spectacular for acquisition work. He takes a global perspective and is good for international work. He can see things that others cannot," note interviewees.

Eduardo García is highly regarded for his expertise in project bond transactions.

Epifanio Pérez comes highly recommended as a brilliant project finance practitioner with outstanding negotiation capabilities.

Significant clients Banco Santander, BBVA, CaixaBank, BNP Paribas, Crédit Agricole.

Public Law - Spain

Basic facts about the department
- 2 partners
- 9 other qualified lawyers

What the team is known for Exceptional full-service team renowned for its litigation work in the telecommunications, pharmaceutical, infrastructure and energy sectors. Impressive reputation for regulatory work on behalf of banks and financial institutions, on which it co-operates with the firm's well-known banking department. Also negotiates with various regulatory authorities when required.

Strengths (Quotes mainly from clients)
"I like the team's excellent service. It produces high-quality work and its lawyers are responsive and available."

"Excellent service - the best firm I have worked with."

"We get brilliant, dedicated support from the team and good value for money, too."

What's new? Comercial de Ediciones and Corporación Andina de Fomento are amongst many new clients of the team.

Jose Luis Zamarro was promoted to partner as of May 2013.

Work highlights Represented Iberdrola in administrative appeals against provisional settlements approved by the Spanish energy regulator regarding the financing of the tariff deficit.

Represented Bayer in an appeal against an administrative decision not to include a medicinal product in the public pricing system.

Notable practitioners  

Department head Juan José Lavilla is particularly experienced in the telecoms, energy and environment sectors. "He is a great legal mind with in-depth knowledge of all aspects of administrative law. He is also flexible and comes up with ideas to close deals or resolve problems," say sources.

New partner Jose Luis Zamarro is an up-and-coming star of the Spanish public law market. He focuses on the financing of public entities, PPP projects and infrastructure issues. Clients say: "He has great knowledge of the law and a lot of experience, making him a lawyer who offers practical solutions."

Significant clients Ono, Iberia, OHL, RWE, Globalvía.

Real Estate - Spain

Basic facts about the department
- 2 partners
- 12 other qualified lawyers

What the team is known for Excellent track record handling all aspects of real estate transactions including acquisitions, leasing and financing. Additional expertise in complex refinancings, pre-insolvency and insolvency matters.

Strengths (Quotes mainly from clients)
"We've recommended the firm to others because I feel confident that everything we instruct it on will be dealt with in a timely manner and it can anticipate solutions to potential problems."

"The team is in all the landmark and big deals that come into the market. It has a good reputation with big banks and funds."

What's new? IRSA, Magic Real Estate and GE Capital are some of the practice's new clients.

Work highlights Assisted SAREB with the co-ordination, analysis and due diligence of its EUR55 billion portfolio of assets.

Advised TPG on the acquisition of a majority stake in CaixaBank's real estate servicing platform.

Notable practitioners

Global head of real estate Alfonso Benavides earns rave reviews from clients: "He's an excellent professional and he knows the real estate sector inside-out. I only have good things to say about him." He represented Banesto in the financing granted to Explotadora de Hoteles for the acquisition of the Hotel Suecia in Madrid.

Carlos Portocarrero is widely praised by market observers. One interviewee said: "He gets inside the counterparty's skin and really is a deal maker." He was the lead partner co-ordinating the due diligence of SAREB's EUR55 billion portfolio of assets.

Clients describe counsel Blanca Ochoa as "very proactive and organised; she always listens and can steer us towards the right direction to get to a good solution."

Sources say Guillermo Rodrigo is "technically very strong and good at finding solutions."

Significant clients Morgan Stanley REF, BBVA, Unibail Rodamco, Deutsche Pfandbriefbank, Bankia.

Restructuring/Insolvency - Spain

Basic facts about the department
- 5 partners
- 30 other qualified lawyers

What the team is known for A leading team of banking and dispute resolution experts handling restructuring and insolvency matters. The firm's full-service offering is an advantage, with capital markets, tax and corporate specialists stepping in when required. The team is recognised for its advice to creditors, and also recently started acting for debtors. 

Strengths (Quotes mainly from clients)
"The team tries to find solutions that are acceptable for the client and the counterparty."

"It has a major presence in Spain, and is always present in big deals."

What's new? Carlyle and Orizonia are new client wins.

Work highlights Advised Eroski on its EUR2.51 billion debt refinancing.

Acted for travel group Orizonia on its refinancing attempts and eventually in insolvency proceedings with EUR1.3 billion in liabilities.

Notable practitioners  

Insolvency practitioner Iñigo Villoria stands out for his advice to creditors. Sources praise his excellence, experience and knowledge.  

Clients appreciate refinancing expert Carlos Hernández-Canut, saying: "He tries to understand the client's concerns and moves matters forward with the counterparty."

Associate Rodrigo Uría is increasingly active in prominent mandates; for example, he was part of the team advising on Eroski's debt refinancing.

Significant clients RBS, Hypothekenbank, Banco Espírito Santo, Barclays, HSBC.

Shipping - Spain

Basic facts about the department
- 1 partner
- 7 other qualified lawyers

What the team is known for Particularly known for its prowess in tax lease and tonnage tax structures. Also experienced in the tax structuring of cross-border acquisitions and finance schemes.

Work highlights Advised Banco Santander on a tax lease and tonnage tax combined scheme for the construction of a pipe-laying vessel.

Notable practitioners 

Pablo Serrano de Haro heads the practice. 

Tax - Spain

Basic facts about the department
- 1 partner
- 9 other qualified lawyers

What the team is known for Strong presence in transactional work, with particular expertise in telecommunications, energy and sports. The team has a prestigious list of standalone clients, and also provides support to other practice groups. 

Strengths (Quotes mainly from clients)
"Clifford Chance would be our main choice in Spain, we're very happy with the lawyers - they have an ability to resolve problems quickly and efficiently."

"The lawyers are open and listen to client needs. They are straightforward, transparent and clear." 

Work highlights Advised SAREB on the VAT issues affecting the EUR55 billion assets it received from several Spanish banks.

Assisted BBVA with the tax aspects of the EUR32 million sale and leaseback of its Paris headquarters.

Notable practitioners 

Practice head Pablo Serrano de Haro is "excellent technically; he acts outside the call of duty and is outstanding at relationship-building."

Clients admire Roberto Grau's "deep industry knowledge and practical responses."

Significant clients SAREB, FROB, Santander, BBVA, Solaria.

TMT - Spain

Basic facts about the department 
- 6 partners
- 20 other qualified lawyers 

What the team is known for A large and highly specialised team with an exceptional reputation in telecoms and media. Assists clients with litigation, regulatory, corporate and antitrust issues, and is noted for its UK law expertise.

Strengths (Quotes mainly from clients)
"A team of sophisticated, top-class lawyers with a lot of new ideas. Not only do they know all the legal details in depth, but have huge experience in a high number of transactions."

"The firm enables the client to do what the client wants to do. It issues complex legal opinions as well as general advice which covers multiple jurisdictions."

What's new? José Luis Zamarro was promoted to partner in the public law department. He often handles TMT mandates. 

Work highlights Represented Telefónica in an appeal against a EUR47 million fine imposed by the Spanish competition authority.

Notable practitioners  

Public law expert Juan José Lavilla earns praise for his expertise in telecommunications.

A former secretary to the Telecommunications Market Commission, Jaime Velazquez is "sensational; an excellent lawyer," according to clients. 

Significant clients Abertis Telecom, Carrefour, Samsung, Telefónica.

Wealth Management - Spain

Basic facts about the department
- 1 partner
- 10 other qualified lawyers 

What the team is known for Noted for its outstanding global network of financial, tax and regulatory specialists. Advises individual clients and private banking divisions of international and Spanish financial institutions.  

Strengths (Quotes mainly from clients)
"We trust and rely on this firm. It is rigorous, up to date on the latest jurisprudence and provides quick, solid advice."

Work highlights Advised private clients of Banco Santander on international tax planning for real estate investments.

Notable practitioners  

Pablo Serrano de Haro assists clients with international taxation issues, real estate transactions, investment funds and private equity. He is lauded as "fast, solution-oriented, efficient and highly qualified." 

Significant clients Barclays Wealth, JPMorgan, MoraBanc, N+1.