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

	Cleary Gottlieb Steen & Hamilton Freshfields Bruckhaus Deringer Linklaters Slaughter and May
	Allen & Overy Ashurst Clifford Chance Gleiss Lutz Hogan Lovells Latham & Watkins Skadden Arps Slate Meagher & Flom Van Bael & Bellis White & Case
	Arnold & Porter Baker & McKenzie Bonelli Erede Pappalardo Bredin Prat Cuatrecasas Gonçalves Pereira Gibson Dunn & Crutcher Gide Loyrette Nouel Hengeler Mueller Herbert Smith Jones Day McDermott Will & Emery/Stanbrook O'Melveny & Myers Shearman & Sterling Sidley Austin Stibbe Uría Menéndez Wilmer Cutler Pickering Hale & Dorr
	Bird & Bird Covington & Burling Eubelius Garrigues Loyens & Loeff Macfarlanes Mannheimer Swartling NautaDutilh Norton Rose Salans Squire Sanders Hammonds Vinge

Baker & McKenzie has had a very strong year, most notably in the cartel field where it had a string of high profile successes.Clients have been pleased.... [more]

Baker & McKenzie has had a very strong year, most notably in the cartel field where it had a string of high profile successes.

Clients have been pleased. "They were very innovative; there were a number of potential definitions of the market and Baker did a good job in defining them," says one, while another says: "Excellent, they were very good when dealing with problems and solutions and able to see things through."

Another client was impressed by the firm's network: "They did a pretty good job with communication across the offices as we worked with Munich, Düsseldorf, Tokyo, Madrid and Barcelona." One client was especially happy with Anne McGregor, for "spending a lot time with us learning the business".

The firm, led by MacGregor and state aid expert Nina Niejahr, won a big victory for Zhejianj Xishiji Foods and Hubei Xishiji Foods, leading Chinese canned fruit producers, to overturn antidumping import duties.

In state aid, Fiona Carlin and Niejahr were representing energy company MOL on an on-going appeal relating to over €100 million in state aid, while Niejahr also helped Chemrec to win approval for approve state aid for the R&D for a biofuels technology plant.

Kurt Haegeman and Bill Batchelor were busy on the merger side, which included acting for CVC / Univar on its acquisition of the non-French assets of Eurochem (successful before both the European and French commissions) and Ashland on clearance for the $930 million sale of its distribution business to TPG as part of a global restructuring.

In mid-2011, the firm achieved two big back to back victories, one on behalf of Mitsubishi Electric, in relation to the gas insulated switchgear cartel, and another for Trade-Stomil, in the synthetic rubbers cartel. The firm secured two complete dismissals of substantial fines which had been levied on its clients in 2006 and 2007, the latter being the first ever fine on a Polish company.

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	Cerha Hempel Spiegelfeld Hlawati Dorda Brugger Jordis Freshfields Bruckhaus Deringer
	Weber & Co Wolf Theiss
	Binder Grösswang Schoenherr
	Baker & McKenzie in association with Diwok Hermann Petsche Brandl & Talos

Commentators say Baker & McKenzie in association with Diwok Hermann Petsche is becoming more visible on the market. Partners Eva-Maria Ségur-Cabanac and Philipp Spatz, who is recommended by several competitors, represented the underwriters on catering company DO&CO's capital increase and secondary listing on the Istanbul Stock Exchange, which closed for €68 million in November 2010.... [more]

Commentators say Baker & McKenzie in association with Diwok Hermann Petsche is becoming more visible on the market. Partners Eva-Maria Ségur-Cabanac and Philipp Spatz, who is recommended by several competitors, represented the underwriters on catering company DO&CO's capital increase and secondary listing on the Istanbul Stock Exchange, which closed for €68 million in November 2010. In May 2010 the pair also acted for the underwriters of the capital increase by listed Austrian property development company, Warimpex. The €29 million transaction included a listing in Austria and Poland and a backstop commitment by an investment management company.

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	Freshfields Bruckhaus Deringer Schoenherr Wolf Theiss
	Binder Grösswang Cerha Hempel Spiegelfeld Hlawati Dorda Brugger Jordis
	CMS Reich-Rohrwig Hainz Fiebinger Polak Leon & Partners
	Baker & McKenzie in association with Diwok Hermann Petsche DLA Piper Weiss-Tessbach enwc Natlacen Walderdorff Cancola Fellner Wratzfeld & Partner Graf & Pitkowitz Saxinger Chalupsky & Partner Skadden Arps Slate Meagher & Flom
	Eisenberger & Herzog

Baker & McKenzie in association with Diwok Hermann Petsche has been active recently according to commentators although most insist this is in the mid and small-cap market. However the firm was involved on the buy side of an $855 million deal with partners Gerhard Hermann and Mario Gall advising Knowles Electronics in conjunction with several other law firms, on the purchase of the sound solutions business line of NXP Semiconductors.... [more]

Baker & McKenzie in association with Diwok Hermann Petsche has been active recently according to commentators although most insist this is in the mid and small-cap market. However the firm was involved on the buy side of an $855 million deal with partners Gerhard Hermann and Mario Gall advising Knowles Electronics in conjunction with several other law firms, on the purchase of the sound solutions business line of NXP Semiconductors.

Another notable deal saw the firm act for Daifuku on the acquisition of a minority stake in Knapp in October 2010.

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	Baker & McKenzie MGB Law Offices Omni Law Firm
	Salans
	BM International InterJurService
	Wicklow Corporate

Baker & McKenzie maintains its top tier place this year by continuing to offer a serious finance capability across the market. "There was nothing they couldn't handle and were very knowledgeable," comments one client.... [more]

Baker & McKenzie maintains its top tier place this year by continuing to offer a serious finance capability across the market. "There was nothing they couldn't handle and were very knowledgeable," comments one client.

The firm advised on a number of groundbreaking deals this year, with managing partner Daniel Matthews, described as "perfect in local law" by a peer, acting on the majority of the most significant mandates.

One piece of important work was advising the European Bank for Reconstruction and Development (EBRD) and DEG on the financing of Unibank, a deal worth $25 million. Closing last April, the transaction is notable for being the first convertible bonds issue in Azerbaijan and could pave the way for other deals of this kind.

Another noteworthy deal, in the oil and gas sector, saw Matthews once again teaming up with Abbas Guliyev to advise the Azerbaijan Methanol Company on the development of a new methanol plant. Currently still in progress, the deal, on completion, will be the largest 100% private investment in the oil and gas sector in Azerbaijan, with a figure of around $300 million being discussed.

In terms of service, clients also praised how engaged the firm is with them: "They have a good customer relationship, and try to understand the concerns of their individual clients," says one.

"They were very professional, and we were very satisfied with the quality," adds another.

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	White & Case
	Allen & Overy Baker & McKenzie Clifford Chance PRK Partners
	BBH CMS Cameron McKenna Glatzova & Co Havel Holásek & Partners Kinstellar Kocián Šolc Balaštík Weil Gotshal & Manges Weinhold Legal
	Balcar Polansky Eversheds Hogan Lovells Salans Squire Sanders & Dempsey
	Dvorak & Spol

Baker & McKenzie has built on its solid Czech base this year moving up to tier two. The firm is steadily building market share as it finds creative ways to garner momentum.... [more]

Baker & McKenzie has built on its solid Czech base this year moving up to tier two. The firm is steadily building market share as it finds creative ways to garner momentum. "They're not so strong in debt, but a lot better in equity now," says one partner.

Although some believe that the firm's competitiveness has been won through their flexibility on fees, few doubted the team's ability to get deals done. "They tend to focus on smaller IPOs but did the Fortuna IPO," says one partner, adding, "They have lots of visibility."

Co-head of the capital markets department Tomas Skoumal has been active on a number of high profile deals including the €78 million IPO of the Fortuna Entertainment Group, which was dual-listed on the Prague and Warsaw Stock Exchanges. This was the first IPO in the country since 1998 and one of only two listings on the Prague Stock Exchange in 2010. The firm also acted on the Polish, UK and Dutch aspects.

Another highlight saw the team act for a major German financial institution with matters related to bonds issued by Sazka (the largest Czech lottery company currently involved in the largest insolvency case in the last year). Moreover, the firm is still advising CSOB and KCB bank on what has the potential to be the largest European IPO of 2011.

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	Allen & Overy Clifford Chance White & Case
	PRK Partners
	Baker & McKenzie BBH CMS Cameron McKenna Glatzova & Co Kocián Šolc Balaštík Weil Gotshal & Manges Weinhold Legal
	Havel Holásek & Partners Hogan Lovells Salans Squire Sanders & Dempsey Wolf Theiss
	Balcar Polansky Eversheds bpv Braun Partners Dvorak & Spol Kinstellar Norton Rose Peterka & Partners Randa Havel Legal Rutland Jezek Schoenherr

"Baker & McKenzie works for one of the large banks here but we do not see much of them on other transactions with other banks," says one partner. Undoubtedly, a major client for the firm is CSOB (Ceskoslovenska obchodni banka), which in 2011 mandated the firm to advise on the refinancings of Window Holding and Hame for over €100 million.... [more]

"Baker & McKenzie works for one of the large banks here but we do not see much of them on other transactions with other banks," says one partner. Undoubtedly, a major client for the firm is CSOB (Ceskoslovenska obchodni banka), which in 2011 mandated the firm to advise on the refinancings of Window Holding and Hame for over €100 million.

Additionally, the firm advised CSOB on the financing of an acquisition of a minority stake in a mining company, on the financing of the acquisition of KRPA Dehtochema and the refinancing of KVK group.

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	Clifford Chance White & Case
	Allen & Overy Baker & McKenzie BBH Glatzova & Co Weil Gotshal & Manges
	CMS Cameron McKenna Havel Holásek & Partners Kocián Šolc Balaštík PRK Partners Salans Weinhold Legal
	Hogan Lovells Kinstellar Norton Rose Peterka & Partners Schoenherr Squire Sanders & Dempsey
	Balcar Polansky Eversheds bpv Braun Partners Dvorak & Spol enwc Natlacen Walderdorff Cancola Randa Havel Legal Rutland Jezek

Baker & McKenzie has had a solid year and is making a serious push for top tier status. The firm has earned plenty of praise from its peers.... [more]

Baker & McKenzie has had a solid year and is making a serious push for top tier status. The firm has earned plenty of praise from its peers. "I've seen them on deals and hold them in high regard," says one partner, while another says: "We have met them in a number of transactions, especially in M&A deals in last years as a counterparty. The cooperation was always very productive, though competitive," adding: "I rank them really very high, actually, I believe they are leading law firm in this field in the Prague market." The story is very similar from clients: "When compared with other international law firms on the Czech market...they clearly stand out," adding, "they are very practical and, very importantly, never exceed the agreed budgets."

Tomas Skoumal, in particular, has been singled out for praise. "Tomas Skoumal is a very skilful lawyer. Tough negotiator, however, always moving the transaction ahead," says one partner and a client agrees. "Tomas is extremely hard working and dedicated and he runs the best group of M&A professionals in the country." Another says: "Tomas was eager to understand our business. He'd talk to the business guys and the marketing guys and became familiar with our business quickly."

The firm has been active advising Tatra (the largest Czech manufacturer of trucks) in relation to its sale of its subsidiary Tawesco (engaged primarily in production of stamping tools, fixtures and tools, cold-press stampings and weldments, especially for the automotive industry) as well as related real estate and movable assets to Promet Tools.

The team also acted for Penta Investments in Tesco's €42 million acquisition of Czech Zabka and Koruna retail stores from the private equity firm. The team also acted for Stryker Corporation in relation to the €1 billion acquisition of the neurovascular business of Boston Scientific.

Finally, in a transaction that required the implementation of several steps, the firm acted for Oracle Czech in its merger of Sun Microsystems Czech.

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	Clifford Chance White & Case
	Allen & Overy BBH Glatzova & Co Havel Holásek & Partners Kocián Šolc Balaštík PRK Partners Weil Gotshal & Manges
	Hogan Lovells Weinhold Legal
	Baker & McKenzie Balcar Polansky Eversheds bpv Braun Partners CMS Cameron McKenna Kinstellar Norton Rose Peterka & Partners Rutland Jezek Salans

Led by Martin Hrodek, Baker & McKenzie’s restructuring and insolvency practice is growing in stature in the Czech Republic and is very close to a ranking. This year, the firm was involved in the major insolvency case in the country when it advised a large German financial institution in relation to the insolvency proceedings of Sazka, the largest Czech lottery company.... [more]

Led by Martin Hrodek, Baker & McKenzie’s restructuring and insolvency practice is growing in stature in the Czech Republic and is very close to a ranking. This year, the firm was involved in the major insolvency case in the country when it advised a large German financial institution in relation to the insolvency proceedings of Sazka, the largest Czech lottery company. The firm was also involved in the largest completed restructuring under the recent insolvency act and advised Unicredit in relation to the €25 million financing of the acquisition of Kordarna’s business from insolvency trustee of Kordarna. [hide]

	Allen & Overy Andrékó Kinstellar CMS Cameron McKenna Siegler Law Office
	Horváth & Partners Kajtár Takács Hegymegi-Barakonyi Réczicza White & Case
	Burai-Kovács & Partners Erös Ügyvédi Iroda Squire Sanders & Dempsey Faludi Wolf Theiss Gárdos Füredi Mosonyi Tomori Gide Loyrette Nouel Lakatos Köves & Partners Nagy és Trócsányi Oppenheim Partos & Noblet Szecskay Attorneys at Law
	Bpv Jádi Németh

Looking ahead, Kajtár Takács Hegymegi-Barakonyi Baker & McKenzie will be pushing to reclaim its position in tier one. Previously, the firm had been hit by departures, but after recently hiring well known and respected local partner Dusán Lásztity, it is gradually moving out of the transitional phase forced by the aforesaid departures.... [more]

Looking ahead, Kajtár Takács Hegymegi-Barakonyi Baker & McKenzie will be pushing to reclaim its position in tier one. Previously, the firm had been hit by departures, but after recently hiring well known and respected local partner Dusán Lásztity, it is gradually moving out of the transitional phase forced by the aforesaid departures. Moreover, this year, the firm has attracted some high profile mandates. "I have good experience with Baker & McKenzie," says one client.

The firm was involved in what has been touted as the deal of the year, advising the Bank of China in regulatory aspects of the €900 million cross-border financing of the acquisition of BorsodChem by Wanhua Industrial Group . It was the first time that such a significant amount of Chinese capital had been invested into a CEE (Central & Eastern Europe) country. The firm's substantial cross-border financing experience was demonstrated again by its involvement in the biggest restructuring deal in Hungary for the OTP Group. The firm represented OTP Bank and CKB (Crnogorska Komercijalna Banka) in relation to the restructuring of the financing of Vektra Group.

Another highlight for the firm was when it represented and advised OTP Bank together with MKB Bank on the complex €54 million restructuring of the two office buildings (7AB) built in the Millennium City Centre by Duna Business Hotel and DunaTermál Hotel.

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	CMS Cameron McKenna Kajtár Takács Hegymegi-Barakonyi Réczicza White & Case Siegler Law Office
	Allen & Overy Gide Loyrette Nouel Horváth & Partners Lakatos Köves & Partners Nagy és Trócsányi Szecskay Attorneys at Law
	Andrékó Kinstellar Burai-Kovács & Partners Erös Ügyvédi Iroda Squire Sanders & Dempsey Faludi Wolf Theiss Oppenheim Réti, Antall and Partners
	Forgó Varga & Partners Gárdos Füredi Mosonyi Tomori Noerr Partos & Noblet
	Bánkiés Társai Ügyvédi Iroda Bpv Jádi Németh Martonyi Law Firm in association with Bolton May Schoenherr

Kajtár Takács Hegymegi – Barakonyi Baker & McKenzie is well respected by its peers, although it is felt that they are not as strong as some of the other top tier firms. "Baker & McKenzie is strong in competition and TMT," says one partner, "but they're not a CMS or White & Case in M&A".... [more]

Kajtár Takács Hegymegi – Barakonyi Baker & McKenzie is well respected by its peers, although it is felt that they are not as strong as some of the other top tier firms. "Baker & McKenzie is strong in competition and TMT," says one partner, "but they're not a CMS or White & Case in M&A". Observers have also noted diminished visibility from the firm.

Nevertheless, it has the wealth of experience that is necessary for big-ticket mandates. Pál Takács is a highly respected figure in the market. "Takács is a big name," says one peer, "and he's also involved in cross border work". Partner Ines Radmilovic is also praised. "She's been in the market for almost 20 years. She's a solid practitioner," says a peer.

The Budapest office attracted significant new clients in energy, telecoms, and pharmaceuticals sectors. Such work extended beyond transactional activity to include cross-disciplinary advice.

The firm advised key client Magyar Telekom on its €4 million acquisition of the Daten-Kontor Group and advised the same client on its €6 million acquisition of a 100% stake in Modultechnika. Elsewhere, the firm represented the Hungarian subsidiary of AES Corporation on the attempted €7 million sale of its power plant in Hungary through an asset sale transaction (which is rare in Hungary).

Pál Takács' cross-border skills were employed when the firm was engaged in an atypical cross-border merger concerning a Hungarian company. In the deal, the firm advised a multinational on the corporate aspects of the merger with its Hungarian operations as part of a corporate restructuring.

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	CMS Cameron McKenna Réczicza White & Case
	Allen & Overy Andrékó Kinstellar Faludi Wolf Theiss KajtárTakács Hegymegi-Barakonyi Siegler Law Office
	Burai-Kovács & Partners Erös Ügyvédi Iroda Squire Sanders & Dempsey Gide Loyrette Nouel Horváth & Partners Lakatos Köves & Partners Nagy és Trócsányi Oppenheim Szecskay Attorneys at Law
	Bánkiés Társai Ügyvédi Iroda Martonyi Law Firm in association with Bolton May

Since Kajtár Takács Hegymegi – Barakonyi Baker & McKenzie's position remained unchallenged, it retains its position in the second tier. However, there have been observations of decreased visibility from market commentators.... [more]

Since Kajtár Takács Hegymegi – Barakonyi Baker & McKenzie's position remained unchallenged, it retains its position in the second tier. However, there have been observations of decreased visibility from market commentators.

When it comes to project finance in its "purest" form, the firm has been relatively inactive. However, this is merely indicative of the state of affairs in the Hungarian market over the last 12 months. On the adoption of a looser definition, we see interesting mandates crop up.

The strength of the firm in cross-border matters was evinced when it represented OTP Bank (the largest Hungarian commercial bank) in relation to the restructuring of the €100 million cross-border financing of Vektra-Jakic Plevlja (a large wood processing company) in Montenegro. This was the most significant restructuring deal of the OTP Group.

The firm also advised JPMorgan Chase with regard to the €247 million financing of a motion picture entitled "The Next Three Days". In relation to the field of film financing, where the firm enjoys high reputation, it advised Commerzbank in connection with the financing of another filming transaction.

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	White & Case
	Baker & McKenzie Dewey & LeBoeuf Salans SNR Denton
	Aequitas Norton Rose VSB Partners
	Egorov Puginsky Afanasiev & Partners Michael Wilson & Partners
	Chadbourne & Parke

	Cleary Gottlieb Steen & Hamilton Linklaters Skadden Arps Slate Meagher & Flom
	Allen & Overy Clifford Chance Freshfields Bruckhaus Deringer Latham & Watkins
	Debevoise & Plimpton Herbert Smith White & Case
	Akin Gump Strauss Hauer & Feld Andrey Gorodissky & Partners Baker & McKenzie Dewey & LeBoeuf Hogan Lovells Liniya Prava
	Nektorov, Saveliev & Partners

	Cleary Gottlieb Steen & Hamilton Linklaters
	Allen & Overy Clifford Chance White & Case
	Baker & McKenzie Freshfields Bruckhaus Deringer Hogan Lovells Latham & Watkins Skadden Arps Slate Meagher & Flom
	Debevoise & Plimpton Liniya Prava

Baker & McKenzie entered the rankings last year on the back of a strong run on the equity side, but the firm's debt work has also been solid this year.The team is headed up by leading lawyer Vladimir Dragunov although it did suffer something of a blow with the loss of partner Mikhail Turetsky.... [more]

Baker & McKenzie entered the rankings last year on the back of a strong run on the equity side, but the firm's debt work has also been solid this year.

The team is headed up by leading lawyer Vladimir Dragunov although it did suffer something of a blow with the loss of partner Mikhail Turetsky. One peer comments: "Baker & McKenzie have lost a partner to Latham & Watkins, so in the future they might struggle." Turetsky is also described as "very solid, young, but good" by another partner.

A good representative deal for the team involved Turetsky, as he advised the borrower, Investbank, with regard to a private offering of Loan Participation Notes by Amber Finance. The notes were intended to finance a tier 2 subordinated loan to the firm's client, and was Investbank's debut subordinated debt issue. The deal closed in December 2010 for $150 million.

Another good deal featured both Dragunov and Turetsky, as they acted as counsel for MDM Bank on an issue of 9% loan participation notes, due May 2013, by Moscow River, which in turn was to finance a secured loan to Renaissance Group Holdings. The loan itself was arranged by MDM Bank, and the whole transaction closed out in June 2010 for $150 million.

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	Allen & Overy Clifford Chance Herbert Smith Linklaters
	Freshfields Bruckhaus Deringer White & Case
	Baker & McKenzie Chadbourne & Parke Cleary Gottlieb Steen & Hamilton CMS Russia Dewey & LeBoeuf Gide Loyrette Nouel Hogan Lovells SNR Denton
	Akin Gump Strauss Hauer & Feld Alrud Debevoise & Plimpton Latham & Watkins Norton Rose Salans Skadden Arps Slate Meagher & Flom
	Goltsblat BLP Nektorov, Saveliev & Partners Peterka & Partners

	Freshfields Bruckhaus Deringer Linklaters White & Case
	Cleary Gottlieb Steen & Hamilton Clifford Chance Herbert Smith Skadden Arps Slate Meagher & Flom
	Akin Gump Strauss Hauer & Feld Allen & Overy Baker & McKenzie CMS Russia Debevoise & Plimpton Dewey & LeBoeuf Hogan Lovells Latham & Watkins Salans
	Alrud DLA Piper Egorov Puginsky Afanasiev & Partners Norton Rose
	Goltsblat BLP Nektorov, Saveliev & Partners Russin & Vecchi Vinson & Elkins

Baker & McKenzie came off the back of a very good year last year, with partners remarking that its standings probably came on the back of those successes. The team has however continued to hold its own in the middle of the market, as one partner says: We do see Baker & McKenzie but they are more commercial, smaller deals.... [more]

Baker & McKenzie came off the back of a very good year last year, with partners remarking that its standings probably came on the back of those successes. The team has however continued to hold its own in the middle of the market, as one partner says: We do see Baker & McKenzie but they are more commercial, smaller deals."

Somewhat contradicting this view is the firm's deals, with one in particular very noteworthy. On this Alexander Monin, alongside Nadia Goreslavskaya, advised Commscope, an international company that deals in infrastructure for communication networks, on its merger agreement with The Carlyle Group. The group will now take Commscope private, and the deal was completed in early 2011 for $3.9 billion.

Another good deal once again featured Monin, as he acted for Agilent as it acquired Varian, the largest manufacturer of scientific instruments in the world. Taking into account post-completion integration work, the deal closed for $1.5 billion in March 2011.

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	Baker & McKenzie Sayenko Kharenko
	Asters Salans
	Chadbourne & Parke Clifford Chance CMS Cameron McKenna DLA Piper Egorov Puginsky Afanasiev & Partners Vasil Kisil & Partners
	Andriy Kravets & Partners Avellum Partners BC Toms & Co Beiten Burkhardt Gide Loyrette Nouel Grischenko & Partners Schoenherr
	Arzinger Ilyashev & Partners Integrites Konnov & Sozanovsky Lavrynovych & Partners LCF Law Group Peterka & Partners Wolf Theiss

The integrated international brand of Baker & McKenzie boasts a wealth of knowledge to supplement its multi-jurisdictional proficiency. With some notable departures in recent times, the firm was landed a blow within its own spheres of influence.... [more]

The integrated international brand of Baker & McKenzie boasts a wealth of knowledge to supplement its multi-jurisdictional proficiency. With some notable departures in recent times, the firm was landed a blow within its own spheres of influence. Nevertheless, market commentators did not feel this affected its tier one standing, but they did note a loss of traction in the market. This was in terms of recent internal instability and also related to the impact of the financial crisis. "Baker & McKenzie are still good but a lot of people left and created a new company," one partner says. "Baker & McKenzie downsized their offices considerably. The market was dead but this does not impact on good lawyers," another partner says.

In addition to the loss of personnel that was duly noted in the previous edition of IFLR1000, the firm suffered another hit with the retirement of managing partner James Hitch in late 2010. Serhiy Chorny and Serhiy Piontkovsky were then appointed to share the new role. As one peer states: "Baker & McKenzie find themselves in an unusual situation. Until December 31, Jim Hitch ran the law firm. He was competent and knew a lot. He knew how to develop the business. There is tension now and one wonders how long it will last, but, they do have competent lawyers, so I'm not saying that they shouldn't be in tier one." Despite the above, Serhiy Chorny has been described as "active" in the field and the firm has been buoyed by the return of Oksana Simonova from maternity leave.

Clients have generally been pleased with Baker & McKenzie's performance and draw attention to the cutting edge the international element gives them in the upper levels of the rankings. However, the firm has been noted for being a bit on the expensive side.

True to its top flight status, the firm continues to attract some of the market's leading mandates. In one of the first post-crisis Eurobond deals in the region, the firm advised Metinvest on its debut offering of $500 million 10.25% guaranteed notes due 2015. The notes are listed and admitted to trading on the Global Exchange Market of the Irish Stock Exchange. Additionally, the firm advised Mobile Telesystems with regard to its $750 million ten-year Eurobond offering. The transaction was structured as an offering of 8.625% loan participation notes due 2020 and was issued under Rule 144A/Reg S, listed on the Irish Stock Exchange. Importantly, the firm has also been at the forefront of the flurry of IPOs destined for the regional hub, the Warsaw Stock Exchange. To this end, the firm has been involved in three-quarters of all the IPOs born out of the Ukraine.

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	Baker & McKenzie Sayenko Kharenko
	Asters CMS Cameron McKenna
	Avellum Partners Chadbourne & Parke Clifford Chance DLA Piper Egorov Puginsky Afanasiev & Partners Salans Sergii Koziakov & Partners Vasil Kisil & Partners
	BC Toms & Co Beiten Burkhardt Frishberg & Partners Gide Loyrette Nouel Grischenko & Partners Ilyashev & Partners Konnov & Sozanovsky Salkom
	AS Consulting Law Firm EnGarde Attorneys at Law Integrites Lavrynovych & Partners Legum Servi Law Firm Peterka & Partners Schoenherr

Led by Serhiy Piontkovsky, Baker & McKenzie's capacity for M&A continues to grow as the firm has welcomed five new arrivals to add to the extant ten M&A and private equity practitioners. It has developed itself a solid reputation on the market and has a firm grip on the first tier despite the troubles of late.... [more]

Led by Serhiy Piontkovsky, Baker & McKenzie's capacity for M&A continues to grow as the firm has welcomed five new arrivals to add to the extant ten M&A and private equity practitioners. It has developed itself a solid reputation on the market and has a firm grip on the first tier despite the troubles of late. "Even when Baker & McKenzie split there was not much impact. They still have very efficient professional partners in M&A," one partner says.

A number of individuals at Baker & McKenzie are held in high esteem among its peers. "At Baker & McKenzie, Serhiy Piontkovsky is good," one partner says. Viacheslav Yakymchuk has also been subject to praise. "I like him, I think he's really good," says another partner. Of counsel, Olyana Gordiyenko has been drawn out for admiration. "She is very good. I worked with her. She's a very good lawyer," says one peer.

In the last twelve months, the firm has been very active on the private equity front. The firm has advised Horizon Capital, a leading regional private equity fund, in a number of transactions this year. For example, it advised the client in a multimillion acquisition of a minority stake in Datagroup, a leading player in telecommunications. This investment will reach up to $40 million. Additionally, the firm advised global private equity players, Advent International on its investment in ISIDA, one of Ukraine's highly regarded healthcare facilities, by acquiring a controlling stake in the company. The firm also advised ESTA Holding with regard to its acquisition of the Kyiv Central Department Store (TsUM).

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