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Europe Guide

Banking & Finance — Russia


Clifford Chance - Banking & Finance Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Victoria Bortkevicha
- 1 partner
- 11 other qualified lawyers

What the team is known for Maintains its market-leading position advising high-profile creditors as well as a number of blue-chip corporates on domestic and cross-border financings. Involved in high-value restructurings and refinancings, alongside its established real estate and aviation financing offerings. Assists with the financing of significant infrastructure projects, often in the energy sector. Also active in pre-export financing. Benefits from a significant UK-law capacity in Moscow.

Strengths The team is repeatedly singled out for its problem-solving abilities. "They have a very practical approach," a client says, adding: "They work as a bridge between the banks and the borrower. They're a top-notch firm in this area."

Another client is pleased with the team's capacity to handle a large workload, confirming: "They're able to cover several projects at once."

Work highlights Assisted Yamal with a USD19 billion project financing for the development of an LNG liquefaction plant and the related infrastructure.

Advised VTB on its USD2.1 billion loan to Novorossiysk Commercial Sea Port.

Significant Clients Far East Development Fund, Natixis, PhosAgro, Raiffeisen, Sberbank.

Notable practitioners

UK and Russian-qualified managing partner Victoria Bortkevicha is recognised as one of the best finance lawyers in Russia. Primarily acting on the creditor side, she handles trade and project finance mandates, often involving energy companies. Her practice also includes asset finance, as well as trade financing, such as a recent instruction to advise PhosAgro on a USD250 million pre-export finance facility arranged by Société Générale and UniCredit. She is highly respected by clients and peers alike: "She has excellent relationships in the market," a source reports, adding: "She is good with banks."

UK-qualified, London-based Logan Wright is a highly respected finance lawyer with years of experience in Russia who remains closely involved in the Russian practice. He oversees cross-border financing deals, acting for both lenders and borrowers. "He takes heated discussions in a constructive way. He is good at talking to opposing counsel," a client says, adding that he is "someone who can actually do what needs to be done very quickly and efficiently."

Counsel Vladimir Barbolin assists clients with a spectrum of financing issues. He has significant experience of syndicated lending, including secured and unsecured loans. His clients encompass international financial players as well as domestic banks. He recently advised the lenders on the USD500 million revolving credit facility for Norilsk Nickel. A client notes his strong work ethic: "He had to work overnight and took it on the chin with a lot of patience."

UK-qualified counsel Adam Fadian has experience of advising on real estate, acquisition and commodity finance. "He's very good technically," a source says.

About the Team (content provided by Clifford Chance)

Our well-established Moscow team of Russian and English lawyers allows us to provide full-service execution capability on the ground, while our integrated global culture enables us to support local aspects of deals run out of other offices.

Our Russian banking & finance practice is well-balanced between borrower and lender mandates, enabling us to offer constructive advice in the following areas: secured and unsecured bilateral and syndicated loans, leveraged and acquisition finance, asset finance and debt restructuring.

Our clients include borrowers, arrangers, lenders, debt and equity financiers, project sponsors, ECAs and international financial organisations.

We advise our clients on the full range of banking transactions across all sectors including petrochemicals, power, metals, and mining, oil & gas, water, transportation (aircraft, rail, automobile), telecommunication and others. Our lawyers have a deep understanding of the underlying industries, which helps us to provide well-informed and practical advice.

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Herbert Smith Freehills - Banking & Finance Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Artjom Buligin
- 2 partners
- 8 other qualified lawyers

What the team is known for Outstanding team with a strong track record in project financing, principally acting for project companies as well as representing creditors. Also reputed for its restructuring offering, where the team acts for notable Russian borrowers. Active in a broad range of deals, including acquisition and pre-export finance. Natural resources projects have been an area of particular recent activity.

Strengths Sources are quick to applaud the dedication and client-oriented approach of the team: "They give you all the time and resources you may need at any point, which makes you feel like an exceptional, if not the only, client of the firm."

Work highlights Assisted Silk Road Fund with its USD800 million bridge loan to Novatek as part of its investment in the Yamal LNG.

Represented VTB Bank in the amendment of its USD2.5 billion refinancing to RussNeft.

Significant Clients Alfa Bank, Crédit Agricole, Gazprom, Onexim Group, Rosatom.

Notable practitioners

Artjom Buligin regularly advises significant domestic corporates on project financing, loan restructuring and investment projects representing both domestic borrowers and lenders. "He's a very diligent person with very good attention to detail; he thinks about things very deeply," a client says. A further source states: "His ability to work long hours and consider huge amounts of documents is incredible. He is always very supportive and can take out much of your headache while structuring a major transaction."

Dmitry Gubarev focuses his practice on project financing, including natural resources projects and real estate financing, often representing the creditors. Sources appreciate his client care skills.

Olga Davydava splits her practice between acting for domestic banks in loan restructurings and acting for corporates on major project financing mandates, particularly in the natural resources sector. "Olga is a technically excellent lawyer with great attention to detail," a source says, while another adds: "She's very experienced, very smooth and easy to work with."

About the Team (content provided by Herbert Smith Freehills)

Department profile not yet provided by Herbert Smith Freehills. Please see their firm profile.

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Linklaters CIS - Banking & Finance Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Michael Bott
- 2 partners
- 7 other qualified lawyers

What the team is known for Top-ranked team providing a broad range of services to significant domestic and international creditors. Primarily acts for lenders on complex multi-jurisdictional restructurings. Offers strong practical experience in handling large project and pre-export finance deals.

Strengths Several sources praise the pragmatism of the team: "They offer very commercially inspired advice and they've got a clear understanding of process and risk. They're also highly responsive."

Interviewees also note the team's focus on closing deals. "You're going to have a sensible conversation, you can find a middle ground with your respective clients. That's the attitude we like," a source says.

Work highlights Advised a syndicate of Russian banks on an RUB8.7 billion syndicated facility to Integra Group.

Continued to advise the syndicate of international lenders on Mechel's debt restructuring.

Significant Clients Alfa Bank, Caterpillar Financial, ING, Mizuho Bank, Sberbank.

Notable practitioners

US and UK-qualified Michael Bott is admiringly described as "a bit of a legend." His considerable market standing is based on years of experience in Moscow, acting on major cross-border financing projects for international blue-chip financial institutions. "He's just an outstanding lawyer," an interviewee says, adding: "He provides practical advice and speaks Russian perfectly."

Counsel Nikolai Kurmashev advances through the rankings this year following excellent feedback. He advises domestic banks on loan restructurings and project financing mandates, often in the natural resources sector. A client notes his ability to work under time pressure and his great availability: "We can call anytime and ask questions."

About the Team (content provided by Linklaters CIS)

Department profile not yet provided by Linklaters CIS. Please see their firm profile.

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Allen & Overy - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Stephen Matthews
- 3 partners
- 12 other qualified lawyers

What the team is known for Strong choice among domestic and international banks involved in highly structured finance transactions with a cross-border aspect, often relating to the borrowing of major energy companies. Also represents creditors in significant domestic restructurings and bankruptcies, and is active in the syndicated loan market. Assists with regulatory issues. Boasts a robust aviation financing practice. Increasingly popular with borrowers.

Strengths Sources highlight the team's ability to communicate well with clients. An interviewee describes the lawyers as "very personable," adding that they facilitate "a high-quality dialogue about the legal issues."

Work highlights Represented VTB as a lender in a RUB692 billion bridge financing to QHG Shares for its acquisition of a 19.5% share in Rosneft.

Assisted Gazprombank with a RUB30 billion credit facility to GTLK to finance the Sukhoi Superjet 100 leasing programme.

Significant Clients Man GLG, EBRD, Sberbank, ING, Lukoil.

Notable practitioners

Stephen Matthews is a well-respected financing lawyer, predominantly representing lenders in high-stakes transactions. "We feel like he's really a part of our team when the chips are down. Just when the situation feels hopeless, Stephen puts new possibilities on the table," a client says, while another adds: "We felt Stephen was really sensitive to our goals and tactful in dealing with negotiation points."

Igor Gorchakov assists with the Russian law aspects of the team's significant instructions, including syndicated loans. He recently advised GeoProMining group on a USD229.7 million syndicated facility to refinance its existing debt.

Associate-to-watch Sergey Blinov is involved in the team's key deals, assisting with syndicated loans and general restructuring of finance.

About the Team (content provided by Allen & Overy)

Department profile not yet provided by Allen & Overy. Please see their firm profile.

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Baker Botts LLP - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Maxim Levinson
- 4 partners
- 7 other qualified lawyers

What the team is known for Goes up a tier in the rankings as a result of very positive market feedback and involvement in significant instructions. Advises on large financing and refinancing deals, including export, acquisition, project and real estate, as well as aircraft finance leasing transactions. Particularly known for its work in the energy sector. Advises both corporates and creditors. Client roster includes global development banks as well as significant Russian and international commercial banks. Moscow and London teams work in close co-operation.

Strengths Sources note the lawyers' experience of representing borrowers in large deals, with one source saying: "Not many firms have experience representing borrowers in this type of thing."

Many interviewees note the team's responsiveness. "They always try to reach the goal, reach the deadline," a client says, while another adds that when the scope of work increased mid-deal, the lawyers "were able to tackle that and to work under more pressure."

Work highlights Represented Telmamskaya as the borrower in a syndicated loan of USD1.1 billion from Sberbank and VTB to acquire a 40.29% stake in Irkutskenergo from Inter RAO UES.

Significant Clients Aeroflot, Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, EBRD, EuroChem.

Notable practitioners

Konstantin Garmonin assists clients with a broad selection of financing mandates, including acquisition, project, real estate and trade financing. Sources note his commitment and strict adherence to deadlines. He recently led the team representing Telmamskaya as the borrower in a syndicated loan of USD1.1 billion from Sberbank and VTB to acquire a 40.29% stake in Irkutskenergo from Inter RAO UES.

Versatile managing partner Maxim Levinson also regularly handles asset financing and leasing mandates. Interviewees note his understanding of commercial issues.

About the Team (content provided by Baker Botts LLP)

Department profile not yet provided by Baker Botts LLP. Please see their firm profile.

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Freshfields Bruckhaus Deringer LLP - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Mikhail Loktionov
- 2 partners
- 9 other qualified lawyers

What the team is known for Highly regarded for its remarkable project finance know-how, leveraging from its exceptional PPP practice. Additionally active in refinancing, restructuring and cross-border lending. Well known for advising domestic blue-chip borrowers, and is also instructed by local and international creditors. Acts for development banks.

Strengths Sources admire the lawyers' practicality, with an interviewee describing the team as "methodical and incisive, solution-oriented, good listeners and able to articulate complex matters in simple terms." Another client adds: "I feel calm and confident when Freshfields are working on my side."

Work highlights Continues to represent Sberbank, Gazprombank and Eurasian Development Bank as creditors in a RUB34 billion financing for the construction of the Central Ring Motorway in the Moscow region.

Advised VTB Capital Trading on a significant secured prepayment facility to Kayum Neft in relation to the sale of Russian export blend crude oil.

Significant Clients Far East Development Fund, VTB Capital, ICU, Mechel, Russian Railways.

Notable practitioners

Mikhail Loktionov regularly handles a range of finance mandates and recently acted for VTB Capital Trading on a high-value secured prepayment facility provided to Kayum Neft. A source notes his "ability to handle complex issues."

Anna Nersesian is involved in project finance and trade finance mandates as well as handling general lending instructions. She advised Far East Development Fund on the financing, by Corporation for Development of the Sakhalin region, of a mini-LNG plant construction in Sakhalin. "She helped the process to move forward in all possible ways," a source says.

About the Team (content provided by Freshfields Bruckhaus Deringer LLP)

Please visit the Freshfields website for more details about our work in this category: http://www.freshfields.com/en-gb/what-we-do/services/disputes-litigation-and-arbitration/banking-and-financial-services/


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Latham & Watkins LLP - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Mikhail Turetsky
- 2 partners
- 7 other qualified lawyers

What the team is known for Increasingly prominent team continuing its rise through the rankings as a result of impressive instructions and positive feedback. Acts for domestic and international creditors. Alongside its strong record in project financing, the team assists with significant refinancings and major restructurings.

Strengths Sources note the all-round approach of the team. "They're knowledgeable, practical, responsive and organised," an interviewee reports.

One pleased client notes the quality of the team's documents: "The quality of their drafting skills is exceptional."

Work highlights Acted for Intesa San Paolo as underwriter to the EUR5.2 billion facility provided to Glencore and Qatar Investment Authority for their joint acquisition of a 19.5% stake in Rosneft.

Significant Clients Bank of Moscow, Morgan Stanley, Nordea, Sberbank, Alfa-Bank.

Notable practitioners

UK-qualified, London-based John Balsdon joined the firm in May 2017. He remains focused on the Russian market, and is well known for his project financing expertise. One interviewee comments: "He really is a talent."

UK-qualified Ragnar Johannesen is singled out for his "good strategic thinking and commercial approach." He regularly assists with the restructuring of large cross-border loans. "It's very easy to get on with him, he's very helpful in moving things forward," a source says.

Managing partner Mikhail Turetsky regularly assists lenders with high-value project financing mandates, loan agreements and refinancing issues.

About the Team (content provided by Latham & Watkins LLP)

Department profile not yet provided by Latham & Watkins LLP. Please see their firm profile.

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Morgan, Lewis & Bockius LLP - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Grigory Marinichev
- 2 partners
- 3 other qualified lawyers

What the team is known for Advises on financing as well as large debt restructuring and refinancing projects. Additionally, active in trade finance. Predominantly instructed by Russian and international banks and also advises a number of blue-chip domestic borrowers. Has recently been active in deals in the natural resources sector, particularly in mining.

Strengths Clients highlight the team's responsiveness: "They answer very fast and instruct us on how long it will take to answer the question. They never fail to meet a deadline."

Work highlights Advised ING and Raiffeisen Bank on a USD320 million pre-export finance facility to Siberian Anthracite.

Assisted Sberbank with a USD165 million prepayment facility to SUEK.

Acted for Natixis on its USD300 million pre-export finance facility to the Russian Copper Company.

Significant Clients EIB, MDM Bank, UniCredit, Vnesheconombank, VTB.

Notable practitioners

UK-qualified, London-based Bruce Johnston has a notable track record in Russian deals and regularly provides English-law support to Russian banks. A market source describes him as "one of the most experienced and senior financing experts."

Grigory Marinichev is a highly regarded finance lawyer regularly advising Russian and international banks on a variety of financing matters, including trade finance and large syndicated loans, and is also active on restructuring of significant loans. Sources describe him as "very committed."

About the Team (content provided by Morgan, Lewis & Bockius LLP)

Department profile not yet provided by Morgan, Lewis & Bockius LLP. Please see their firm profile.

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Norton Rose Fulbright - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Alexander Tsakoev
- 2 partners
- 5 other qualified lawyers

What the team is known for Regularly advises clients on large trade financing matters and boasts extensive expertise in financing in the energy sector. Instructed on major restructuring and refinancing transactions, often involving several jurisdictions. Represents both creditors and prominent Russian borrowers. Financing team in Russia was strengthened by the firm's global merger with Chadbourne & Parke in 2017.

Strengths Sources note the team's commercial approach.

Work highlights Assisted Rosneft with a USD1.5 billion pre-paid export contract with PDVDSA, the Venezuelan state-owned oil and gas company.

Represented VTB bank in a USD70 million prepayment financing to Russian Copper Company.

Significant Clients Amsterdam Trade Bank, Deutsche Bank, ING, HSBC, Société Générale.

Notable practitioners

Alexander Tsakoev is a well-respected finance lawyer assisting with a variety of financing issues, including large trade financing deals and general corporate lending.

Konstantin Konstantinov is a versatile and highly experienced lawyer, advising clients on project finance and debt restructuring. He joined the team as a result of the firm's global merger with Chadbourne & Parke.

Ksenia Zolotova is recognised for her technical skills and regularly supports the team on its key transactions, frequently assisting with financings.

About the Team (content provided by Norton Rose Fulbright)

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White & Case LLC - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Heads of department: Maxim Kobzev and Natalia Nikitina
- 4 partners
- 12 other qualified lawyers

What the team is known for Strong team assisting with a broad array of financing matters. Particularly active of late in high-value, cross-border refinancings. Also active in trade financing and aviation financing. Represents blue-chip Russian financial institutions as well as international creditors. Acts for large domestic borrowers and assists with banking regulatory issues. Boasts expertise in the energy and mining sectors.

Strengths Clients appreciate the team's commercial approach: "They're very efficient in every respect," a source says, adding that the team is "focused on the result rather than the process."

Work highlights Acted as lenders' counsel to Rosbank, Société Générale and UniCredit on a USD250 million syndicated pre-export facility to PhosAgro.

Significant Clients Bank of Moscow, Credit Suisse, EuroChem, JBIC, En+ Group.

Notable practitioners

Maxim Kobzev regularly advises international creditors, as well as assisting domestic corporates with financing projects. "He's very quick to react and he's creative," a source says.

Natalia Nikitina is a well-respected finance lawyer acting for blue-chip domestic financial institutions, advising on structured financing as well as cross-border loan agreements. She is also well known for her experience in handling aviation finance mandates.

About the Team (content provided by White & Case LLC)

To learn more about our practice, please visit: whitecase.com/law

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Cleary Gottlieb Steen & Hamilton LLP - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Scott Senecal

What the team is known for Closely integrated London-Moscow team with an exceptionally strong corporate client base. Principally acts for significant Russian corporates as borrowers on significant refinancing matters. Has experience of large-scale corporate financing restructuring.

Notable practitioners

London-based Polina Lyadnova is particularly well versed in cross-border transactions relating to large Russian corporates and has significant experience in refinancing and debt restructuring. She is UK and Russian-qualified.

Scott Senecal is a versatile practitioner who is also involved in financing deals. He counts several high-profile Russian banks among his clients and also assists blue-chip Russian borrowers.

About the Team (content provided by Cleary Gottlieb Steen & Hamilton LLP)

Department profile not yet provided by Cleary Gottlieb Steen & Hamilton LLP. Please see their firm profile.

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CMS - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Konstantin Baranov
- 1 partner
- 6 other qualified lawyers

What the team is known for Acts for local and international banks, recently predominantly assisting with financing restructuring matters. Strong track record in real estate financing, including construction. Additional expertise includes significant trade financing matters where the team represents borrowers.

Significant Clients Aareal Bank, Far East Development Fund, North-West Concession Company, OTP Bank, Raiffeisen.

Notable practitioners

Elena Tchoubykina acts for lenders and borrowers, predominantly assisting Russian banks. She handles secured and unsecured lending as well as ECA-backed finance. She is known for her client-oriented approach and is qualified in Russia and the UK.

Practice head Konstantin Baranov handles a range of financing matters, including real estate and trade finance. A source describes him as "very personable" and also commends his calm approach to issues.

About the Team (content provided by CMS)

Department profile not yet provided by CMS. Please see their firm profile.

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Debevoise & Plimpton LLP - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Alan Kartashkin
- 1 partner
- 8 other qualified lawyers

What the team is known for Notable team acting for major domestic corporates as borrowers on significant financing matters, including loans and capital markets instruments. Particularly active in the area of syndicated borrowing, including that granted by international banks, as well as refinancing. Strong track record in aviation financing. Also active in pre-export finance.

Strengths Clients praise the team's approach: "They're good in negotiations with banks," a source says, adding: "They don't waste time, they are very deal-oriented."

Sources note the team's availability, with one client delighting in the "possibility to ask for advice 24/7."

Work highlights Acted for Norilsk Nickel on securing a USD500 million revolving credit facility, granted by a syndicate of international creditors.

Advised Norilsk Nickel on an USD800 million secured credit facility by Sberbank for the development of a gold and copper mining plant in Bystrinskoye.

Significant Clients Polyus.

Notable practitioners

Counsel Dmitry Karamyslov enters the rankings this year as a result of activity on the team's key instructions, as well as positive market feedback. He assists with corporate finance as well as pre-export and asset-backed financing. Clients note his responsiveness and administrative skills.

About the Team (content provided by Debevoise & Plimpton LLP)

Department profile not yet provided by Debevoise & Plimpton LLP. Please see their firm profile.

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Dentons - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Timothy Stubbs
- 4 partners
- 7 other qualified lawyers

What the team is known for Frequently handles cross-border deals, including refinancing matters. Recently active in trade and acquisition financing transactions and also assists with project finance. Counts a number of development banks among its clients and assists commercial Russian and international creditors. Increasingly popular with borrowers. Offers banking regulatory advice.

Strengths Interviewees praise the team's business-minded approach and attention to detail.

Work highlights Acted for EuroChem on a pre-export financing involving several international arrangers, valued at USD800 million.

Assisted ChelPipe with an RUB80 billion secured financing for the refinancing of a syndicated loan.

Significant Clients Natixis, Rosgosstrakh, Vnesheconombank, Central Bank of Russia, UniCredit.

Notable practitioners

Timothy Stubbs acts for international commercial and development banks as well as Russian banks. He recently assisted Rosgosstrakh with establishing a joint venture with a Chinese insurance company. "I would single out Tim Stubbs for a special mention as a seasoned transactional lawyer," a client says.

About the Team (content provided by Dentons)

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Akin Gump Strauss Hauer & Feld LLP - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Heads of department: Robert Aulsebrook and Dmitry Shiryaev
- 2 partners
- 8 other qualified lawyers

What the team is known for Closely integrated Moscow-London team especially active on corporate and project finance mandates. Assists large Russian energy corporates with securing financing in international markets. Also active in debt restructuring mandates.

Significant Clients Lukoil, UTair, VimpelCom, O1 Properties, Raiffeisen.

Notable practitioners

Dmitry Shiryaev handles a broad spectrum of banking and finance matters, including syndicated loans and significant refinancings.

About the Team (content provided by Akin Gump Strauss Hauer & Feld LLP)

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ALRUD Law Firm - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Anton Dzhuplin

What the team is known for Notable team at a local firm that advises banks and corporate borrowers. Increasingly active on significant domestic restructuring and refinancing mandates. Handles work in the Russian regions. Also instructed on cross-border financing mandates.

Strengths The team is commended for its responsiveness: "They always get back to us with high-quality work and give us a great follow-up," a source says, while another interviewee adds: "They never miss a deadline."

Work highlights Advised ICBC on modification of its significant financing for the construction of the Huadian-Teninskaya plant.

Continues to assist Mechel with its large-scale debt restructuring.

Significant Clients Elko Grupa, Hungarian Export-Import Bank, Bank of Baroda, Alfa-Bank Ukraine, Sanofi.

Notable practitioners

Anton Dzhuplin is a key contact for clients.

About the Team (content provided by ALRUD Law Firm)

Banking and Finance practice is one of our most sustainably developed areas of experience. Vast expertise of ALRUD Banking and Finance team comprises advising on full scope of lending transactions as well as regulatory aspects of Russian financial companies’ activity.

Anton Dzhuplin, Partner, heading Banking and Finance Practice, is recognized by both Chambers Global and Chambers Europe rankings.

Led by Anton Dzhuplin, Practice team is ready to conduct the most complex projects in connection to lending-borrowing relations and more general and financing matters. Clients choose us as a team with deep knowledge of market and specific of banking and finance projects.

Lawyers working in the Practice have diversified specialization. Besides working on projects connected with loan market and project finance, our team is involved in advising domestic and foreign financial companies (including payment systems, credit institutions and microcredit companies).

Our multidisciplinary Banking and Finance team delivers comprehensive and unique advice in various types of finance transactions as well as regulatory issues arising in connection with financial institutions’ activity on Russian market.

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Baker McKenzie - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Vladimir Dragunov

What the team is known for Respected team advising banks on a broad range of secured and unsecured financing, including large syndicated loans. Also assists creditors with restructuring projects and bankruptcies. Particularly known for its extensive experience of securitisation deals. Increasingly popular with borrowers.

Strengths The team's perseverance is noted by interviewees. "What I like about them is their persistence in seeing through lengthy negotiations," a source says.

Clients are also satisfied with the team's international offering, with one interviewee commenting: "They are useful as a one-stop-shop partner for various jurisdictions."

Work highlights Assisted Aterra Resources with large-value shareholder financing for the refinancing of indebtedness, and financing of the construction of Mangazeisky silver mining project.

Significant Clients Absolut Bank, Deutsche Bank, Alfa-Bank, Credit Suisse, VTB.

Notable practitioners

Vladimir Dragunov is an established name in the market and is also widely regarded as one of Russia's key securitisation experts. He regularly assists Russian and international banks with a variety of issues.

Simon Morgan handles general lending issues and also has experience in deals covering several CIS jurisdictions. "He is very good at seeing things through. He has the ability to stay on the case, fully focused, right until the end," a source says.

About the Team (content provided by Baker McKenzie)

With a partner team of Vladimir Dragunov, Max Gutbrod, Simon H.P. Morgan and Dmitry Dembich on the ground full-time in Russia, Baker McKenzie has one of the most dynamic, experienced, knowledgeable and client-focused teams in the market. It covers all Russian law and English law aspects of the biggest and most complex secured and unsecured transactions out of the Firm's Russian offices. The team has a very well balanced portfolio of Russian and international clients both on the lender/arranger side and the borrower side. The team has unique experience of advising on launching various types of innovative e-banking products and online banking services, and on other complex issues in connection with ongoing implementation of the Federal Law “On the National Payment System.” It also has bankruptcy and financial restructuring practice on the ground to support the clients with any litigation related to bankruptcy or restructuring of distressed debt. 

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Bryan Cave Leighton Paisner (Russia) LLP - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Oleg Khokhlov

What the team is known for Represents Russian and international banks in financing and refinancing issues. Particularly active in real estate financing. Increasingly visible in aviation financing and assists with bank regulatory matters. Also represents borrowers.

Work highlights Acted for Gett as the borrower on securing a USD100 million loan from Sberbank.

Significant Clients Eurasian Development Bank, IIB, Russia-China Investment Fund, Raven Russia.

Notable practitioners

Tatiana Parshak acts on a broad range of financing mandates, including borrowing and debt restructuring. "She provides detailed and accurate analysis and seems to have a real passion for the work she is doing," a source says.

About the Team (content provided by Bryan Cave Leighton Paisner (Russia) LLP)

The Banking & Finance Practice of Goltsblat BLP is a well-established team, which focuses on all aspects of finance, including structured products and derivatives, securitisation, leveraged finance (including public and private acquisition finance), asset finance, project finance, real estate finance, capital markets, tax-based structured finance, venture capital lending, trade finance, workouts, restructuring and insolvency.

We offer an integrated service providing transactional and regulatory advice to a broad range of clients including domestic and international banks and borrowers, other financial institutions and intermediaries and corporates, acting on many complex transactions both in Russia and internationally. We focus on providing clients with business sensitive solutions to complex problems.

In particular, and in response to the current economic climate and resulting market conditions, we offer debt restructuring capabilities our experts in which possess extensive cross-border experience on restructuring and workouts of all forms of debt, structured credit and securitised assets, consistently working on demanding and innovative deals. This experience enables us to anticipate and mitigate the likely concerns of all parties, so even the most challenging transactions proceed smoothly.



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DLA Piper Rus Ltd - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the Department
- Head of department: Karen Young
- 1 partner
- 7 other qualified lawyers

What the team is known for Advises creditors as well as borrowers on a variety of financing issues. Assists with the restructuring of existing loans and is particularly known for real estate financing, including the construction of hotels and production facilities. Also has an established track record in aviation financing. Represents Russian as well as international banks.

Strengths The team's responsiveness is highlighted, with a client saying that the lawyers are "quick to answer questions" and also focus on key issues.

Work highlights Advised Aareal Bank on an amendment of a USD129 million loan facility to Pushkino.

Significant Clients Bank of China, Credit Europe Bank, EBRD, Promsvyazbank, Raven Russia.

Notable practitioners

Karen Young's expertise encompasses a broad range of financing issues, but she is particularly recognised for her proficiency in real estate financing. A source describes her as "a very good, technical lawyer who knows her stuff," while another adds: "She is very solution-oriented, but makes a stand when she needs to."

About the Team (content provided by DLA Piper Rus Ltd)

Department profile not yet provided by DLA Piper Rus Ltd. Please see their firm profile.

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Band 1

Victoria Bortkevicha

Clifford Chance

From the Chambers Europe guide

UK and Russian-qualified managing partner Victoria Bortkevicha is recognised as one of the best finance lawyers in Russia. Primarily acting on the creditor side, she handles trade and project finance mandates, often involving energy companies. Her practice also includes asset finance, as well as trade financing, such as a recent instruction to advise PhosAgro on a USD250 million pre-export finance facility arranged by Société Générale and UniCredit. She is highly respected by clients and peers alike: "She has excellent relationships in the market," a source reports, adding: "She is good with banks."

^ See whole ranking table

Band 1

Linklaters CIS

From the Chambers Europe guide

US and UK-qualified Michael Bott is admiringly described as "a bit of a legend." His considerable market standing is based on years of experience in Moscow, acting on major cross-border financing projects for international blue-chip financial institutions. "He's just an outstanding lawyer," an interviewee says, adding: "He provides practical advice and speaks Russian perfectly."

^ See whole ranking table

Band 2

Vladimir Barbolin

Clifford Chance

From the Chambers Europe guide

Counsel Vladimir Barbolin assists clients with a spectrum of financing issues. He has significant experience of syndicated lending, including secured and unsecured loans. His clients encompass international financial players as well as domestic banks. He recently advised the lenders on the USD500 million revolving credit facility for Norilsk Nickel. A client notes his strong work ethic: "He had to work overnight and took it on the chin with a lot of patience."

^ See whole ranking table

Band 2

Herbert Smith Freehills

From the Chambers Europe guide

Artjom Buligin regularly advises significant domestic corporates on project financing, loan restructuring and investment projects representing both domestic borrowers and lenders. "He's a very diligent person with very good attention to detail; he thinks about things very deeply," a client says. A further source states: "His ability to work long hours and consider huge amounts of documents is incredible. He is always very supportive and can take out much of your headache while structuring a major transaction."

^ See whole ranking table

Band 2

Herbert Smith Freehills

From the Chambers Europe guide

Dmitry Gubarev focuses his practice on project financing, including natural resources projects and real estate financing, often representing the creditors. Sources appreciate his client care skills.

^ See whole ranking table

Band 2

Grigory Marinichev

Morgan, Lewis & Bockius LLP

From the Chambers Europe guide

Grigory Marinichev is a highly regarded finance lawyer regularly advising Russian and international banks on a variety of financing matters, including trade finance and large syndicated loans, and is also active on restructuring of significant loans. Sources describe him as "very committed."

^ See whole ranking table

Band 2

Allen & Overy

From the Chambers Europe guide

Stephen Matthews is a well-respected financing lawyer, predominantly representing lenders in high-stakes transactions. "We feel like he's really a part of our team when the chips are down. Just when the situation feels hopeless, Stephen puts new possibilities on the table," a client says, while another adds: "We felt Stephen was really sensitive to our goals and tactful in dealing with negotiation points."

^ See whole ranking table

Band 2

Elena Tchoubykina

CMS

From the Chambers Europe guide

Elena Tchoubykina acts for lenders and borrowers, predominantly assisting Russian banks. She handles secured and unsecured lending as well as ECA-backed finance. She is known for her client-oriented approach and is qualified in Russia and the UK.

^ See whole ranking table

Band 2

Alexander Tsakoev

Norton Rose Fulbright

From the Chambers Europe guide

Alexander Tsakoev is a well-respected finance lawyer assisting with a variety of financing issues, including large trade financing deals and general corporate lending.

^ See whole ranking table

Band 3

Konstantin Garmonin

Baker Botts LLP

From the Chambers Europe guide

Konstantin Garmonin assists clients with a broad selection of financing mandates, including acquisition, project, real estate and trade financing. Sources note his commitment and strict adherence to deadlines. He recently led the team representing Telmamskaya as the borrower in a syndicated loan of USD1.1 billion from Sberbank and VTB to acquire a 40.29% stake in Irkutskenergo from Inter RAO UES.

^ See whole ranking table

Band 3

Ragnar Johannesen

Latham & Watkins LLP

From the Chambers Europe guide

UK-qualified Ragnar Johannesen is singled out for his "good strategic thinking and commercial approach." He regularly assists with the restructuring of large cross-border loans. "It's very easy to get on with him, he's very helpful in moving things forward," a source says.

^ See whole ranking table

Band 3

White & Case LLC

From the Chambers Europe guide

Maxim Kobzev regularly advises international creditors, as well as assisting domestic corporates with financing projects. "He's very quick to react and he's creative," a source says.

^ See whole ranking table

Band 3

Konstantin O Konstantinov

Norton Rose Fulbright

From the Chambers Europe guide

Konstantin Konstantinov is a versatile and highly experienced lawyer, advising clients on project finance and debt restructuring. He joined the team as a result of the firm's global merger with Chadbourne & Parke.

^ See whole ranking table

Band 3

Mikhail Loktionov

Freshfields Bruckhaus Deringer LLP

From the Chambers Europe guide

Mikhail Loktionov regularly handles a range of finance mandates and recently acted for VTB Capital Trading on a high-value secured prepayment facility provided to Kayum Neft. A source notes his "ability to handle complex issues."

^ See whole ranking table

Band 3

Freshfields Bruckhaus Deringer LLP

From the Chambers Europe guide

Anna Nersesian is involved in project finance and trade finance mandates as well as handling general lending instructions. She advised Far East Development Fund on the financing, by Corporation for Development of the Sakhalin region, of a mini-LNG plant construction in Sakhalin. "She helped the process to move forward in all possible ways," a source says.

^ See whole ranking table

Band 3

White & Case LLC

From the Chambers Europe guide

Natalia Nikitina is a well-respected finance lawyer acting for blue-chip domestic financial institutions, advising on structured financing as well as cross-border loan agreements. She is also well known for her experience in handling aviation finance mandates.

^ See whole ranking table

Band 3

Cleary Gottlieb Steen & Hamilton LLP

From the Chambers Europe guide

Scott Senecal is a versatile practitioner who is also involved in financing deals. He counts several high-profile Russian banks among his clients and also assists blue-chip Russian borrowers.

^ See whole ranking table

Band 3

Dentons

From the Chambers Europe guide

Timothy Stubbs acts for international commercial and development banks as well as Russian banks. He recently assisted Rosgosstrakh with establishing a joint venture with a Chinese insurance company. "I would single out Tim Stubbs for a special mention as a seasoned transactional lawyer," a client says.

^ See whole ranking table

Band 3

Latham & Watkins LLP

From the Chambers Europe guide

Managing partner Mikhail Turetsky regularly assists lenders with high-value project financing mandates, loan agreements and refinancing issues.

^ See whole ranking table

Band 3

DLA Piper Rus Ltd

From the Chambers Europe guide

Karen Young's expertise encompasses a broad range of financing issues, but she is particularly recognised for her proficiency in real estate financing. A source describes her as "a very good, technical lawyer who knows her stuff," while another adds: "She is very solution-oriented, but makes a stand when she needs to."

^ See whole ranking table

Band 4

Konstantin Baranov

CMS

From the Chambers Europe guide

Practice head Konstantin Baranov handles a range of financing matters, including real estate and trade finance. A source describes him as "very personable" and also commends his calm approach to issues.

^ See whole ranking table

Band 4

Herbert Smith Freehills

From the Chambers Europe guide

Olga Davydava splits her practice between acting for domestic banks in loan restructurings and acting for corporates on major project financing mandates, particularly in the natural resources sector. "Olga is a technically excellent lawyer with great attention to detail," a source says, while another adds: "She's very experienced, very smooth and easy to work with."

^ See whole ranking table

Band 4

Vladimir Dragunov

Baker McKenzie

From the Chambers Europe guide

Vladimir Dragunov is an established name in the market and is also widely regarded as one of Russia's key securitisation experts. He regularly assists Russian and international banks with a variety of issues.

^ See whole ranking table

Band 4

Clifford Chance

From the Chambers Europe guide

UK-qualified counsel Adam Fadian has experience of advising on real estate, acquisition and commodity finance. "He's very good technically," a source says.

^ See whole ranking table

Band 4

Allen & Overy

From the Chambers Europe guide

Igor Gorchakov assists with the Russian law aspects of the team's significant instructions, including syndicated loans. He recently advised GeoProMining group on a USD229.7 million syndicated facility to refinance its existing debt.

^ See whole ranking table

Band 4

Baker Botts LLP

From the Chambers Europe guide

Versatile managing partner Maxim Levinson also regularly handles asset financing and leasing mandates. Interviewees note his understanding of commercial issues.

^ See whole ranking table

Band 4

Baker McKenzie

From the Chambers Europe guide

Simon Morgan handles general lending issues and also has experience in deals covering several CIS jurisdictions. "He is very good at seeing things through. He has the ability to stay on the case, fully focused, right until the end," a source says.

^ See whole ranking table

Band 4

Akin Gump Strauss Hauer & Feld LLP

From the Chambers Europe guide

Dmitry Shiryaev handles a broad spectrum of banking and finance matters, including syndicated loans and significant refinancings.

^ See whole ranking table

Band 4

Vladislav Skvortsov

Noerr

From the Chambers Europe guide

Vladislav Skvortsov of Noerr assists clients with a variety of financing issues, including banking regulatory matters. He advises both creditors and borrowers. A source describes him as a "very technical and talented" practitioner.

^ See whole ranking table

Band 4

Noerr

From the Chambers Europe guide

German-qualified Stefan Weber of Noerr advises European and domestic financial institutions on a broad range of Russian financial matters.

^ See whole ranking table

Up and Coming

Dmitry Karamyslov

Debevoise & Plimpton LLP

From the Chambers Europe guide

Counsel Dmitry Karamyslov enters the rankings this year as a result of activity on the team's key instructions, as well as positive market feedback. He assists with corporate finance as well as pre-export and asset-backed financing. Clients note his responsiveness and administrative skills.

^ See whole ranking table

Up and Coming

Nikolai Kurmashev

Linklaters CIS

From the Chambers Europe guide

Counsel Nikolai Kurmashev advances through the rankings this year following excellent feedback. He advises domestic banks on loan restructurings and project financing mandates, often in the natural resources sector. A client notes his ability to work under time pressure and his great availability: "We can call anytime and ask questions."

^ See whole ranking table

Up and Coming

Norton Rose Fulbright

From the Chambers Europe guide

Ksenia Zolotova is recognised for her technical skills and regularly supports the team on its key transactions, frequently assisting with financings.

^ See whole ranking table

Associates to watch

Allen & Overy

From the Chambers Europe guide

Associate-to-watch Sergey Blinov is involved in the team's key deals, assisting with syndicated loans and general restructuring of finance.

^ See whole ranking table

Associates to watch

Bryan Cave Leighton Paisner (Russia) LLP

From the Chambers Europe guide

Tatiana Parshak acts on a broad range of financing mandates, including borrowing and debt restructuring. "She provides detailed and accurate analysis and seems to have a real passion for the work she is doing," a source says.

^ See whole ranking table