IFLR 1000
The Guide to the World's Leading Financial Law Firms

"Gorrissen and Kromann Reumert are very established in the old banks network," says one rival partner. Kromann increased its headcount this year, hiring Thomas Kjoller, former head of the banking division at the Danish Financial Supervisory Authority (FSA), in June 2008 as a special consultant. Meanwhile Jens Blomgren-Hansen has made an impression on his market competitors this year. "He is to the point, modest, gets the deal done and does not show off," says one peer.

Clients appreciate Kromann's approach and efficient style: "I think they are the best in Denmark," says one client. "I've worked with other firms too but I like Kromann best. It is the chemistry; they are really easy going."

Thomas Kaas acted for a syndicate of Danish and international banks in the financing of a pool of ships owned by an international shipping company. The $900 million deal was closed in the third quarter of 2008.

Ian Tokley and Kim Rasmussen led a team advising Danske Bank on its €3 billion issue under its Euro MTN programme as well as issues under its euro and dollar-denominated commercial paper programmes – the first issues under the new Danish bank guarantee scheme. The firm also contributed to the development of the new scheme, advising the Danish government through the Ministry of Economics and Business.

Kromann Reumert's M&A group holds its position in tier one after being involved in some of the most prominent transactions over the last 12 months. A rival partner at one of the leading firms says: "If one firm is excellent, it is them."

Clients agree: "I have worked with Kromann Reumert in the past and with a lot of people there," says one client. "Jørgen Kjergaard Madsen, Marianne Philip – I think they are very good. Probably the best in Denmark if you ask me."

One highlight this year saw Kromann act for distressed bank Fionia Bank on the Financial Stability Authority's investment of DKr1 billion (€134 million) into the bank, giving it effective control.

Henrik Møgelmose assisted the owners of Svendborg Brakes in connection with the €460 million sale of the company to private-equity house Doughty Hanson. Dong Energy was also a strong client this year, with Kromann acting for the energy group in successfully negotiating the purchase of offshore wind turbines from Siemens Windpower. The transaction is considered by many to be one of the largest ever of its kind.

The Danish Ministry of Transport was represented by Peter Ketelsen and his team in connection with the establishment of a new ownership structure for Post Denmark and Sweden's Posten, both state-controlled entities. Christian Lundgren was counsel to the Danish ingredients company Danisco in relation to the DKr5.6 billion (€832 million) sale of its largest product division Danisco Sugar to Nordzucker.

Kromann Reumert has managed to remain one of the dominant insolvency practices this year. Although competition was fierce – especially from rival Plesner – the firm still attracted some high-profile clients.

"They are very good. I think one of the best in Denmark," says a client about Kromann Reumert's R&I department. "Very skilled lawyers, very solution focussed. A superb restructuring team." Søren Aamann Jensen is praised by competitors: "He is excellent – he is doing a very good job," says one partner.

The much talked-about downfall of Sterling Airways turned out to be one of Kromann Reumert's standout roles for the year. The firm was appointed trustee of the airline, which was declared bankrupt in October 2008.

Kromann has also been appointed trustee of the Stones Invest Group, a Danish conglomerate with a portfolio of real estate and manufacturing companies, which was declared bankrupt with an unsecured debt of DKr2.5 billion (€335 million).