Described by one competitor as "a powerhouse" in derivatives, Allen & Overy is widely acknowledged as having an impressive practice in the field. The firm acts as US and Hong Kong counsel to the International Derivatives and Swaps Association (Isda)....
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Described by one competitor as "a powerhouse" in derivatives, Allen & Overy is widely acknowledged as having an impressive practice in the field. The firm acts as US and Hong Kong counsel to the International Derivatives and Swaps Association (Isda).
Over the last few years, Allen & Overy has lost some prominent partners, including Daniel Cunningham, who left for Quinn Emanuel Urquhart & Sullivan in 2009, and Joshua Cohn, who went to Mayer Brown in February 2010. In July 2011, partner Edward De Sear resigned from the firm.
Nevertheless, the firm's derivatives practice continues to receive strong market feedback. "I think they are at the top of the game," remarks one rival, while another describes the firm as "a very institutional player".
The firm's teams in New York and Moscow recently advised Mechel on its $251 million public offering of preferred shares in the form of American Depositary Shares.
Other notable work includes advising the Depository Trust and Clearing Corporation (DTTC) in creating a new joint venture with the New York Stock Exchange. The scheme will be called the New York Portfolio Clearing (NYPC) and will clear US fixed-income derivatives.
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Described by one peer as a "classic project finance shop", Allen & Overy has produced on campaigns to influence governments and inform clients. These include a 332-page Global Guide to public-private partnership (PPP), published in March 2010, and a 10-page study called Rescue Investing Through Infrastructure PPPs....
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Described by one peer as a "classic project finance shop", Allen & Overy has produced on campaigns to influence governments and inform clients. These include a 332-page Global Guide to public-private partnership (PPP), published in March 2010, and a 10-page study called Rescue Investing Through Infrastructure PPPs. In addition, the firm has been active in transactional work. "We see Allen & Overy in a lot of deals," remarks another competitor.
The firm recently counselled Baja Mining and Minera y Metalurgica del Boleo on a $858 million greenfield project in Baja, Mexico, known as the Boleo mining project.
In another project, the firm is currently advising the Virginia Department of Transportation in its procurement of a long-term concession to design, build, finance and operate the US Route 460 Corridor, a 55-mile toll road in central Virginia. The scheme is expected to cost $2 billion.
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