In June 2010 Mason Hayes & Curran's funds practice was boosted by the hire of new partner Mark Browne from Maples and Calder's Cayman office.Competitors are quick to comment that there is a large divide between the market share and experience of the second and third tier firms but having said that Mason Hayes secured some slick mandates in 2010 and 2011....
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In June 2010 Mason Hayes & Curran's funds practice was boosted by the hire of new partner Mark Browne from Maples and Calder's Cayman office.
Competitors are quick to comment that there is a large divide between the market share and experience of the second and third tier firms but having said that Mason Hayes secured some slick mandates in 2010 and 2011.
Practice head Fionan Breathnach and Browne together closed two notable transactions, advising Horizon Global Advisers on converting its Umbrella Fund from a QIF to a UCITS in October 2010, and acting for Yacktman Asset Management on the establishment of a new sub-fund on the Heptagon Fund UCITS platform in November 2010.
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Mason Hayes & Curran benefits from a strong corporate team that gives it a decent market share. Its credentials are not missed by competitors who see it by far as the leader amongst the tier the three firms....
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Mason Hayes & Curran benefits from a strong corporate team that gives it a decent market share. Its credentials are not missed by competitors who see it by far as the leader amongst the tier the three firms. "There's an argument that you'd have Mason Hayes in tier three on its own. Really there are two lawyers in Mason Hayes & Curran, certainly in the public takeover sphere, Justin Mckenna and Paul Egan who would be good very capable lawyers and a cut above anything that Eversheds or indeed LK Shields would have to offer," opines one lawyer.
Although the firm is not yet threatening the members of the second tier it has secured some reputable mandates. In one pharmaceutical deal, department head David O'Donnell and partner Liam Brazil advised drug manufacturer Mylan on its successful acquisition of the Irish based pharmaceutical company Bioniche Pharma Holdings in July 2010 for $550 million.
Later that month the firm advised LaCrosse Global Fund Services on the Irish aspects of its acquisition of Bank of America Merrill Lynch's alternative fund administration business.
Another international deal where the firm provided the local advice saw partner Liam Brazil act for Vedanta Resources, which was acquired zinc mining interests in Ireland from Anglo American for $1.34 billion in in February 2011.
Most recently, Martin Kelleher led a team representing Liberty Mutual on its acquisition of the general Irish insurance business of Quinn Insurance. It closed for an undisclosed amount in April 2011.
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Belying its comparatively small size, Mason Hayes & Curran holds a good share of the energy market in Ireland.The firm's prominence in this sphere has not gone unnoticed: "Second to us on the energy side is Mason Hayes & Curran....
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Belying its comparatively small size, Mason Hayes & Curran holds a good share of the energy market in Ireland.
The firm's prominence in this sphere has not gone unnoticed: "Second to us on the energy side is Mason Hayes & Curran. I think they deserve to be higher up the tiers," says one competitor, who is a fan of practice head Will Carmody. The lawyer continues: "In terms of lawyer league tables and who has closed the most deals in Ireland this year [2010]; second would be Will Carmody and I think he deserves a mention for the sheer volume of work he's doing."
Carmody has led the firm on all its most significant deals lately. He closed the financing of Bawnmore wind farm; a 25MW project in County Cork completed on a club basis between the two funding banks for €38 million in December 2010. Later that month he also finalised the deal for Reirk wind farm, acting for Norddeutsche Landesbank in respect of the €39 million financing.
On another deal on the side of the banks Carmody and his team advised Royal Bank of Scotland (RBS) on the addition of a new €10 million project, Corkermore wind farm, into the existing portfolio of Eco Wind Power, Viridian's renewable energy subsidiary.
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Mason Hayes & Curran has solidified it's position in the second tier after acting on a string of solid cases.The team, led by Declan Black, expanded to four partners in 2010 with the promotions of Judith Riordan and Jane Pilkington....
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Mason Hayes & Curran has solidified it's position in the second tier after acting on a string of solid cases.
The team, led by Declan Black, expanded to four partners in 2010 with the promotions of Judith Riordan and Jane Pilkington.
Irish airline Aer Arann was rescued from examinership with the assistance of investors. Black, who is described as "a good capable lawyer" by one peer, and Riordan advised one who input €5 million into the company in late 2010.
On the side of the banks, Black has advised Bank of Ireland on restructuring the €1.5 million facilities extended to Wood Printcraft which was under examinership.
The firm represent all parties in insolvency cases and partner Maurice Phelan advised the receiver appointed to Ravenshaw on a successful application to court for an order confirming the validity of the receiver's appointment and the bank's underlying security following a challenge by the company's directors.
On behalf of a liquidator, Phelan and Riordan have been advising in the €11 million case of Budget Travel, the largest tour operator and travel agent in Ireland.
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