«Клири Готтлиб» консультирует многие крупнейшие и системно значимые банковские учреждения в США и в других странах мира по широкому кругу проектов в области банковской деятельности и ценных бумаг и по соответствующим вопросам нормативного регулирования. Мы активно консультируем клиентов по последним законодательным инициативам и разрабатываемым в этой связи нормативным принципам их применения на финансовых рынках в США и Европе, включая в соответствии с Законом Додда-Франка о перестройке финансовой системы США и Законом о защите потребителей, которые, по мнениям многих аналитиков, представляют собой наиболее радикальные законодательные изменения в сфере финансовых услуг США со времен Великой депрессии. Мы консультировали клиентов по обе стороны Атлантического океана по практически всем крупнейшим операциям спасения от банкротства, рекапитализации или обязательной реорганизации в результате финансового кризиса, а также в отношении Правила Волькера (в рамках Закона Додда-Франка), новых требований для дилеров свопами и иных требований применительно к рынкам производных инструментов, в отношении режима функционирования и устранения рисков банкротства системно значимых компаний и необходимых резервов капитала, предусматриваемых Законом Додда-Франка, а также в отношении правил Базель III, регламентирующих объем капитала и ликвидность.
Отличительной особенностью нашей международной группы специалистов по обслуживанию финансовых учреждений является наличие у нее возможности предложить клиенту глубокий практический опыт как в области сопровождения сделок, так и в области правового регулирования. Мы принимали участие в крупнейших проектах по слиянию и поглощению банков в различных странах мира и помогли впервые реализовать большое количество новаторских для этой отрасли сделок. Наша многосторонняя практика предоставляет клиентам уникальную возможность реализовать корпоративные цели при соблюдении всех нормативных положений в области банковской деятельности и операций с ценными бумагами. Благодаря нашей интегрированной международной практике, которая отражает транснациональный характер деятельности многих из наших клиентов, мы консультируем клиентов как по проектам, ограниченным рамками одной юрисдикции, так и проектам, выходящих за пределы национальных границ и юрисдикций.
В США наша фирма располагает одинаково значительными ресурсами и человеческим потенциалом как в Нью-Йорке, так и в Вашингтоне (округ Колумбия), что способствует взаимодействию между финансовой столицей страны и ее законодательной и регулирующей столицей. Chambers USA каждый год ставит нас в ряд ведущих фирм в стране в области финансовых услуг.
Обладая более чем 60-летним опытом работы в Европе, мы предлагаем клиентам уникальное сочетание всесторонней осведомленности о деятельности финансовых учреждений и способности сопровождать сделки в любой из стран континента.
Будучи одной из первых международных юридических фирм, пришедших на рынок Азии, мы сочетаем глобальное видение проблем с пониманием особенностей местного бизнеса и местных обычаев, что позволило нам осуществить сопровождение целого ряда первых в своем роде инвестиционных операций с участием финансовых учреждений по всей территории данного региона, предусматривавших как приток финансовых средств извне, так и их вложение за пределами региона.
Наличие в составе партнеров нашей фирмы бывших высокопоставленных государственных служащих, включая бывшего генерального консультанта Федеральной корпорации по страхованию депозитов, трех бывших генеральных консультантов Комиссии по ценным бумагам и биржам (General Counsel of the Securities and Exchange Commission) и двух бывших директоров Управления по финансовой деятельности корпораций (Director of the Division of Corporation Finance) позволило нашей фирме добиться выдающихся результатов в своей практике на пересечении таких направлений работы, как регулирование банковской деятельности и регулирование деятельности на рынке ценных бумаг.
Наши юристы регулярно консультируют клиентов:
- По всем вопросам, возникающим в связи с особым вниманием регулирующих органов на данном этапе к функционированию банковской отрасли, включая все аспекты реформы регулирования финансовой деятельности, как, например, сделки с производными инструментами, вопросы регулирования банковских операций и устранение рисков банкротства; частные инвестиции в капитал банковских учреждений и прочие инвестиции в банки, включая сделки с привлечением Федеральной корпорации страхования депозитов, создание компаний, получающих банковскую лицензию в ускоренном режиме (shelf charter), для упрощения процедуры заключения сделок; привлечение капитала банками и государственные программы по спасению от банкротства, включая выпуск и погашение облигаций в рамках программы по освобождению от проблемных активов (TARP); а также стресс-тестирование, проводимое Федеральной резервной системой/Министерством финансов США, и связанные с этим требования в отношении капитала;
- В отношении сделок по слиянию и поглощению компаний как в рамках одной юрисдикции, так и с участием нескольких, сделок по реструктуризации компаний, образования стратегических союзов, вложения средств в капитал частных компаний (private equity investments), а также в отношении сделок на рынках капитала как с участием крупнейших финансовых учреждений мира, так и с участием объединений квалифицированных частных инвесторов (sophisticated private investor groups);
- По вопросам использования новых финансовых продуктов, в том числе инновационных производных финансовых инструментов, новых типов акционерных бумаг, включая ценные бумаги, конвертируемые в акционерные при наступлении определенных условий, а также структурированных облигаций и депозитных сертификатов;
- В связи с расширением направлений деятельности отечественных и международных банковских корпораций с переходом их к оказанию широкого спектра финансовых услуг на рынках капитала, в области инвестиционной деятельности, на товарных рынках и в иных областях;
- В связи с внутренними расследованиями, административно-правовыми и уголовно-правовыми разбирательствами, крупными правоприменительными разбирательствами по иску регулирующих органов, в связи с защитой в суде лиц, обвиняемых в должностных преступлениях, по гражданско-правовым делам и арбитражным разбирательствам;
- По вопросам, относящимся к компетенции американских и зарубежных государственных органов, включая вопросы, возникающие в связи с приватизацией финансовых учреждений, оказание содействия в разработке новых законов и нормативных актов, а также проведение переговоров с американским и зарубежными правительствами по вопросам торговли финансовыми услугами;
- В отношении трансграничной интеграции организаций, занимающихся предоставлением банковских услуг, услуг на рынке ценных бумаг, консультационных услуг, услуг по управлению денежными средствами и иных услуг.
- В связи с консультациями и расследованиями, проводимыми федеральными органами, органами штата или иностранными органами, регулирующими банковскую сферу и рынки ценных бумаг.
Свидетельством нашего глубокого опыта и компетентности в области нормативного регулирования и осуществления сделок в данной области юридической практики служит тот факт, что партнеры, входящие в состав нашей международной группы специалистов по обслуживанию финансовых учреждений, являются авторами наиболее авторитетных руководств по проблематике финансовых учреждений, включая «Guide to Bank Underwriting, Dealing and Brokerage Activities» («Руководство по осуществлению банками деятельности в качестве андеррайтеров, дилеров и брокеров») (17-е изд.), «U.S. Regulation of the International Securities and Derivatives Markets» («Регулирование международных рынков ценных бумаг и производных инструментов в США») (10-е изд.) и «The Sarbanes-Oxley Act: Analysis and Practice» («Закон Сарбэйнза-Оксли: анализ и практика»).
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Nov 08, 2012
Cleary Gottlieb is representing long-standing client Dexia in the proposed €5.5 billion recapitalization of Dexia SA by the Belgian and French States, which was announced on November 8.
The recapitalization is one of the elements of the ongoing orderly resolution plan of the Dexia group. It was made necessary in light of the negative net assets position of the holding company as a result of an impairment of its interest in its main remaining subsidiary, Dexia Credit Local (DCL). In consideration for the States' capital injection, Dexia will issue preference shares entitling the States to a preferential dividend, and be converted into ordinary shares upon occurrence of certain regulatory capital events. The proceeds of the recapitalization will be used by Dexia SA primarily to reinforce the balance sheet of DCL.
The board of directors of Dexia SA approved the agreement reached last night with the States, and the proposed recapitalization will now be submitted to an extraordinary meeting of shareholders for approval. The transaction, which is also subject to prior approval by the European Commission under the EU State aid rules, is expected to complete before year end.
In addition to the recapitalization, Dexia and the States agreed certain amendments to the terms of the States' guarantee of Dexia and DCL's indebtedness, which will now extend to up €85 billion in financings.
Dexia and the States are also engaged in discussions with the European Commission on a revised, final resolution plan, which is expected to be submitted shortly.
May 14, 2013
Cleary Gottlieb is representing Itaú Unibanco, Latin America’s largest bank by market value, in the acquisition of Citigroup’s Brazilian consumer finance business (including its credit card business) for 2.77 billion reais ($1.37 billion). The deal signed and was announced after market close on Tuesday, May 14, 2013.
May 03, 2013
Cleary Gottlieb represented CITIC Securities Company Limited and its wholly-owned finance subsidiary in a US$800 million offering of 2.50% Credit Enhanced Bonds due 2018. This is the inaugural international bond offering of the CITIC Securities group of companies. The Bonds have the benefit of a keepwell deed provided by CITIC Securities and an irrevocable standby letter of credit issued by Bank of China Limited, Macau branch, acting as an external credit enhancement provider. The Bonds were listed on the Stock Exchange of Hong Kong Limited. CITIC Securities International, Bank of China, Citi, HSBC and Standard Chartered Bank served as the Joint Global Coordinators and Joint Lead Managers; CITIC Securities International, Bank of China, Citi, HSBC, Standard Chartered Bank and BofA Merrill Lynch served as Active Joint Bookrunners; and Deutsche Bank, Credit Agricole CIB, J.P. Morgan, Barclays and ABC International served as the Joint Bookrunners of this transaction. The transaction priced on April 26 and closed on May 3.
CITIC Securities is one of the leading full-service investment banks in China. In 2012, it was ranked top in China for investment banking, asset management, sales and trading and brokerage, and had the highest revenue, net profit and total assets among China’s investment banks.
Dec 18, 2012
Cleary Gottlieb acted as counsel to the underwriters, led by joint global coordinators Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC, in the U.S. Department of the Treasury’s sale of its remaining 234,169,156 shares of American International Group (AIG) common stock at $32.50 per share. The aggregate proceeds to Treasury from the common stock offering were approximately $7.6 billion. Giving effect to the offering, the Treasury and the Federal Reserve have realized a positive return of approximately $22.7 billion on their commitment to stabilize AIG during the financial crisis.
Feb 08, 2013
Cleary Gottlieb represented Citigroup Inc., in connection with the exchange, and the underwriters, led by UBS Securities LLC, in connection with the public sale, of the last remaining Citi securities held by the U.S. Department of the Treasury. Almost all of Treasury’s TARP investment in Citi was sold through public offerings by the end of 2010. However, under an agreement with the FDIC, Treasury was entitled to receive $800 million Citi trust preferred securities from the FDIC when the final series of Citi FDIC-guaranteed debt matured. On December 28, 2012, that final series of Citi debt matured, and the FDIC transferred $800 million trust preferred securities to Treasury.
In order to increase the marketability of Treasury’s securities, Citi agreed to exchange the $800 million trust preferred securities for $894 million 4.050% Subordinated Notes due July 30, 2022. The exchange took place, and the subordinated notes were issued to Treasury, on February 4. On February 5, the subordinated notes were offered to the public in a secondary offering by Treasury. The public sale priced that same day and closed on February 8. This transaction marks the final exit of Treasury as a holder of Citi securities.
Apr 09, 2013
Cleary Gottlieb represented BPCE in the establishment of a $10 billion medium-term note program. Notes offered pursuant to the program will be offered by BPCE, a French bank. A subset of notes will be guaranteed by the New York Branch of Natixis, a subsidiary of BPCE. Program documentation was signed on April 9.
The notes will be offered in the United States in reliance on (i) the exemption from registration provided by Section 3(a)(2) of the Securities Act, (ii) on reliance on the exemption from registration provided by Rule 144A under the Securities Act, or (iii) pursuant to Regulation S under the Securities Act. The Notes will generally be senior unsecured fixed or floating rate notes. Natixis Securities Americas will serve as the arranger. Barclays Capital, Citigroup Capital Markets, Goldman Sachs, J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley, and Wells Fargo Securities will serve as dealers.
BPCE is the central body of Groupe BPCE, a leading French mutual banking group. Groupe BPCE was created through the July 2009 combination of the Groupe Banques Populaires and the Groupe Caisse d’Epargne, two leading French mutual banking groups.
Apr 16, 2013
With a decision rendered on April 16, 2013, the Court of Milan rejected all the claims for damages brought by Independent Global Managers SGR against three HSBC companies and several other entities. This is the first Italian decision on the Madoff case and one of the few Italian decisions on prospectus liability.
IGM had contested: (i) the accuracy and completeness of the information contained in the prospectus of the Thema Fund; (ii) the infringement of the EU regulation on harmonized funds (primarily due to the role played by Bernard Madoff and by the companies linked to him); and (iii) the failure to comply with the obligations imposed on the Thema Fund custodian and administrator.
Aug 10, 2012
Cleary Gottlieb is representing Bank of America Merrill Lynch in the sale of its non-U.S. wealth management business to Julius Baer Group Ltd. The sale and purchase agreement was executed on August 10. The transaction is subject to regulatory and other approvals and is expected to close in stages starting in the fourth quarter of 2012 or in early 2013.
BAML’s non-U.S. wealth management business is a global business, with over 2,000 employees and approximately $84 billion of assets under management as of the end of June. The transaction will be effected through a combination of share sales and asset sales across over twenty jurisdictions. The consideration for the transaction will depend on assets under management that are transferred to Julius Baer. Up to $250 million of such consideration will be in the form of shares of Julius Baer, with the remainder being paid in cash. In conjunction with the sale, BAML and Julius Baer will also enter into a cooperation agreement whereby BAML will provide certain products and services to Julius Baer and BAML and Julius Baer will refer clients to each other.
Sep 18, 2012
Cleary Gottlieb represented the Central Bank of Russia and Sberbank of Russia in connection with the USD5.2 billion sale by the CBR of approximately 7.58% of the share capital of Sberbank. The sale was structured as a Rule 144A / Regulation S secondary public offering of ordinary shares in Sberbank and global depositary shares, each GDS representing an interest in four ordinary shares, simultaneously with an offering of ordinary shares in Russia on the MICEX Stock Exchange. The transaction priced on September 18. As a result of the sale, the CBR's participation in Sberbank has decreased to 50% of the share capital plus one voting share, which is the minimum currently required for the CBR by Russian law.
In connection with the transaction, Sberbank's American depositary shares previously traded on the unregulated market segment of the London Stock Exchange, as well as the GDSs offered in the Rule 144A / Regulation S offering, were admitted to the Official List of the UK Listing Authority and to trading on the LSE’s regulated market for listed securities. The underlying ordinary shares of Sberbank have been listed on MICEX since 1996.
Sberbank is the largest commercial bank in Russia, accounting for approximately 28% of all Russian banking sector assets and providing banking services to approximately 50% of the Russian population. As of September 14, 2012, Sberbank ranked as the 18th largest bank in the world by market capitalization. The SPO is a key milestone in the announced multi-billion dollar Russian privatization program, representing the largest Russian equity deal since the 2008 - 2009 financial crisis and the fourth largest ever international capital-raising on the LSE.
Credit Suisse, Goldman Sachs International, J.P. Morgan, Morgan Stanley and Troika Dialog (a leading Russian investment bank and, since 2011, a part of the Sberbank group) acted as joint bookrunners in connection with the Rule 144A/Regulation S portion of the offering.
Apr 18, 2013
Cleary Gottlieb represented The Hartford Financial Services Group in various aspects of its recently announced capital management plan. On the debt reduction side of the plan, the first step included its Dutch Auction and Waterfall tender offers for senior debt in an aggregate principal amount of $800 million. Settlement of the tender offers occurred on March 26.
The Hartford’s capital management plan also included the issuance of new long term senior debt. Cleary Gottlieb represented The Hartford in its SEC registered shelf takedown of $300 million principal amount of senior debt. The offering priced on April 15 and closed on April 18.
The Hartford, a Fortune 100 company, is a leading provider of insurance and wealth management services for millions of consumers and businesses worldwide.
Jun 25, 2012
Cleary Gottlieb won dismissal in New York Supreme Court of an antitrust action brought against clients Citigroup, Citigroup Global Markets, JP Morgan Securities, JPMorgan Chase and Goldman Sachs. The court rejected the Donnelly Act claim of plaintiff, a structured finance lawyer claiming the banks had colluded to block the use of her “structure” for airport facility bonds. The court held that plaintiff lacked antitrust standing and failed to allege antitrust injury under the Donnelly Act, and that she otherwise failed to plead common law tortious interference claims. This dismissal followed the federal court's dismissal with prejudice of plaintiff’s federal antitrust claims.
May 29, 2012
Cleary Gottlieb represented the underwriters in two roughly contemporaneous offerings of BlackRock, Inc. securities, a $4.6 billion secondary offering of common stock and a $1.5 billion note offering. The firm has also been counsel to the underwriters of multiple previous BlackRock offerings.
In the equity offering, a subsidiary of Barclays Bank PLC sold $4.6 billion of BlackRock common stock. This offering and a related stock repurchase, taken together, fully monetized Barclays’ prior 19.6% economic interest in BlackRock. Barclays and Morgan Stanley led the underwriters of the equity offering, which closed on May 29, 2012 (including the full exercise of the underwriters’ option to purchase additional shares). One unusual feature of the equity offering was the use of tranched settlement (in which securities are delivered in multiple batches, rather than all at once, at closing) for non-U.S. regulatory compliance purposes.
In the note offering, BlackRock issued and sold two tranches of senior notes with an aggregate principal amount of $1.5 billion. Citigroup, J.P. Morgan and Wells Fargo Securities led the underwriters of the note offering, which closed on May 25, 2012.
BlackRock is the world’s largest publicly-traded investment management firm. As of March 31, 2012, BlackRock managed approximately $3.7 trillion of assets under management on behalf of institutional and retail investors worldwide.
Jul 05, 2012
Cleary Gottlieb represented Oriental Financial Group, a Puerto Rican bank holding company, in connection with its agreement with Banco Bilbao Vizcaya Argentaria to acquire BBVA's Puerto Rico bank and other subsidiaries, for $500 million in cash. In connection with the acquisition Cleary Gottlieb also advised Oriental on a private placement of non-cumulative convertible perpetual preferred stock. Consummation of the acquisition is targeted for the end of 2012, pending regulatory approvals. Oriental expects to raise additional equity to finance the acquisition.
Mar 19, 2013
Cleary Gottlieb represented the underwriters led by BNP Paribas, Citi, HSBC and J.P. Morgan in an offering of $2.5 billion aggregate principal amount of the Asian Development Bank’s 0.50% global notes due June 20, 2016. The transaction was conducted under ADB’s Global Medium-Term Note Program. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on March 19.
The Asian Development Bank is an international development financial institution whose vision is an Asia and Pacific region free of poverty. In pursuing its objectives, ADB provides different forms of financial assistance to its developing member countries. The main instruments are loans, technical assistance, grants, guarantees, and equity investments, which are met through various funding resources.
Mar 06, 2013
Cleary Gottlieb represented the underwriters in The Bank of New York Mellon Corporation’s registered offering of $300 million 0.700% Senior Medium-Term Notes due 2016, $300 million Floating Rate Senior Medium-Term Notes due 2016, $600 million 1.350% Senior Medium-Term Notes due 2018 and $300 million Floating Rate Senior Medium-Term Notes due 2018. The joint book-running managers for the offering were Barclays Capital Inc., Citigroup Global Markets Inc., Goldman, Sachs & Co. and BNY Mellon Capital Markets Inc. The transaction priced on March 4 and closed on March 6.
The Bank of New York Mellon Corporation is a global financial services company. The Company provides financial services for institutions and high-net-worth individuals, providing asset servicing, issuer services, clearing services, treasury services, investment management and wealth management.
Jul 19, 2012
Cleary Gottlieb represented BBVA Bancomer in its Regulation S/Rule 144A offering of $1 billion 6.75% Fixed Rate Cumulative Subordinated Preferred Notes Due 2022, which qualify as Tier 2 capital under Mexican banking regulations. The offering will allow BBVA Bancomer to consolidate and further strengthen its liquidity and capital position. Banco Bilbao Vizcaya Argentaria, Goldman Sachs and Merrill Lynch acted as initial purchasers of the offering. The transaction closed on July 19.
BBVA Bancomer is Mexico's largest bank in terms of total assets, loans and deposits.
Dec 15, 2011
On Thursday, December 15, Senior District Judge Samuel Conti of the United States District Court for the Northern District of California dismissed with prejudice claims brought against HSBC Bank USA, N.A. by Wailea Fund L.P., a counterparty to an ISDA-based swap agreement with HSBC that referenced the performance of a Madoff feeder fund. Wailea filed its complaint on July 19, 2011, seeking rescission of the swap agreement and return of approximately $16 million in upfront premium payments made to HSBC in connection with the swap. Wailea claimed a right to rescission on various grounds, including mutual mistake, unilateral mistake, innocent misrepresentation, failure of condition, and violations of the California securities laws.
Following oral argument on December 9, the Court dismissed all of Wailea's claims, holding that, under the plain language of the swap agreement, Wailea had assumed the risk of mistake as to the performance of the Madoff feeder fund as a matter of law, could not claim reasonable reliance on any representations made by HSBC as a matter of law, failed to and could not as a matter of law plead any condition precedent to contract formation, and could not point to any statements or omissions by HSBC that were actionable under the California securities laws.
Cleary Gottlieb has been ranked in the top tier for financial services and regulatory compliance by Chambers USA since the inception of this category.
North America Equity Issue
(AIG's $20.7 billion follow on)
International Financing Review (2013)
Standout Firm for Finance
(CEMEX's $7 billion debt refinancing)
Financial Times - U.S. Innovative Lawyers Report (2012)
Standout Firm for Litigation
(Setting the strategy in Madoff-related cases)
Financial Times - U.S. Innovative Lawyers Report (2012)
Restructuring Deal of the Year
(Lehman Brothers Chapter 11 proceedings)
International Financial Law Review (2012)
FIG Capital Markets Deal of the Year
(Credit Suisse's $8 billion contingent capital package)
The Banker (2012)
Americas Structured Equity Issue of the Year
(AIG’s sale of $9.5 billion in MetLife securities)
International Financing Review (2012)
EMEA Equity Issue of the Year
(Commerzbank’s €11 billion capital increase)
International Financing Review (2012)
Subordinated Financial Bond of the Year
(Credit Suisse’s Tier 2 Buffer Capital Notes offering)
International Financing Review (2012)
EMEA Restructuring of the Year
(Truvo’s restructuring of €1.5 billion in debt)
International Financing Review (2012)
M&A Deal of the Year
(Dexia’s restructuring and related transactions)
The Deal (2012)
M&A Deal of the Year
(Bank of America’s asset sales)
The Deal (2012)
Standout Firm for Finance
(AIG's re-IPO)
Financial Times' U.S. Innovative Lawyers (2011)
Financial Bond-Subordinated Debt of the Year
(HSBC’s $3.8 billion $25 par capital securities)
International Financing Review (2011)
Americas Equity Deal of the Year
(Bank of America’s preferred share sale of Banco Itaú)
International Financial Law Review (2011)
Americas Restructuring of the Year
(CIT Group)
International Financing Review (2011)
Standout Firm for Financial Services
(Citi's capital raising and TARP repayment)
Financial Times' U.S. Innovative Lawyers (2010)
Americas M&A Deal of the Year
(Barclays' acquisition of Lehman Brothers' assets)
International Financial Law Review (2009)
"‘The impressive team runs like clockwork and knows how to get things done. The firm’s strengths are a deep bench and consistently high-quality client service.’”
Chambers Global (2013)
“Much of the team's work has an international flavour, and it attracts prominent multinational clients … ‘The lawyers are always available when we need them and are extremely technically prepared. They pay close attention to keeping the client happy.’”
“The firm's international footprint, as well as its elite reputation, secures the admiration of market sources. ‘A really strong brand.’”
Chambers Europe (2013)
“Cleary Gottlieb’s team provides outstanding service across a broad range of financial matters. The firm houses an impressive team of experienced lawyers and co-ordinates work from its offices in New York, Buenos Aires and São Paulo. The practice group frequently acts for lenders and borrowers. … ‘The firm’s strengths are a deep bench and consistently high-quality client service.’”
Chambers Latin America (2013)
“Cleary’s disputes practice is notable for its successful management of enormously complex cases, involving multiple litigations and arbitrations, often across many borders.”
Latin Lawyer 250 (2013)
“This firm has a strong presence in the USA and Latin America, and is especially well regarded for sponsor-side representations in London and regulatory work in Germany. Its Latin American practice is particularly robust in Brazil and Mexico, with clients here including both financial institutions and borrowers. Many deals feature complex structured elements that straddle banking and finance and the debt capital markets.”
Chambers Global (2012)
“This firm continues to be involved in the most sophisticated matters in the financial services sector. The banking and financial institutions practice group is noted for its masterful understanding of the regulatory landscape, and is regularly appointed on groundbreaking, industry-defining issues. On the transactional front the firm has been particularly active in asset management matters … The firm is equally impressive in enforcement matters … The team is also a fine choice in the broker-dealer space, representing major financial institutions … and industry bodies … in the full range of high-end regulatory matters. … ‘The core team is exceptionally aware of commercial developments.’”
Chambers USA (2012)
“Clients appreciate the high-caliber banking and finance team at Cleary Gottlieb Steen & Hamilton. The partners use their broad experience of various practice areas to offer clients a truly collaborative approach. The firm is best known for its outstanding work with sponsors and it frequently advises on cross-border LBOs, debt buy-backs and exchanges.”
Chambers UK (2012)
“Overall, the firm is commended for its ‘great knowledge of local regulations and international law,’ and its ‘helpful,’ responsive, ‘organized’ and ‘value for money’ advice…. ‘The firm provides the benchmark for which many of its competitors judge themselves against.’”
The Legal 500 Latin America (2012)
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