This firm appears in the Who's Who Legal 100 2014
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In March 2013, Scott Edelman was newly elected chairman of the firm. He succeeded Mel Immergut who retired after serving 17 years in the role. Edelman will continue to move the firm forward taking advantage of opportunities in the marketplace and expects to see growth in the firm’s litigation and transactional practices in particular.
|MILBANK TWEED HADLEY & MCCLOY|
|Arbitration||1||Insolvency & Restructuring||2|
|Aviation||5||Insurance & Reinsurance||1|
|Business Crime Defence||1||Mining||1|
|Commercial Litigation||1||Project Finance||19|
|Corporate Tax||2||Telecoms & Media||1|
Effective 1 January 2014, Milbank Tweed Hadley & McCloy elected six members to the firm’s partnership across a broad range of practice areas: securities and capital markets, project finance, tax, financial restructuring, space and transportation, and trusts and estates. The news follows a successful 2013 for the firm, which saw revenue increase by 2 per cent.
|Total Listings in WWL||50||Established||1866|
|Home jurisdiction||US||Total size of firm||600|
|Number of partners||152||Number of offices||11|
PEOPLE AND PRACTICES
Milbank’s project finance team is “world class”. In the past three years, the firm has closed more than 140 project financings, raising more than $125 billion. The firm’s lawyers have experience in the following sectors: oil and gas, petrochemicals, power and energy, infrastructure and water, telecommunications, space and satellite, waste, mining and metals, pulp and paper and transportation. Phillip Fletcher leads the firm’s project finance group and is also chair of the European practices. Based in London, he focuses on the acquisition, development and financial of projects. He is “renowned” for his experience in multi-source financings including through Islamic institutions. Co-chair of the firm’s practice Eric Silverman has a “wealth of experience” in project financing of energy, power and infrastructure projects and has worked on projects in the US and overseas. Splitting his time between Hong Kong and Tokyo, Gary Wigmore serves as the head of the firm’s project finance group in Asia. His recent work includes advising on the GNPower project in the Philippines for the sponsors and the Cirebon power project in Indonesia for the lenders. Jonathan Green is also a co-chair of the project finance group. Based in New York, he represents lenders and borrowers in project financings with a particular focus on the energy, power, mining and metals, and transportation industries. Daniel Bartfeld represents financial institutions, developers and multinational companies in projects in Latin America and the US while William Bice’s clients include developers, lenders, asset owners, hedge funds and private equity funds involved in the energy and infrastructure sectors. Head of the DC-based project finance group Jonathan Maizel is “much admired” for his expertise in multi-sourced financings, in particular those involving official credit agencies, commercial banks and capital markets lenders. Aled Davies joined the firm in mid-2013 and is located in the firm’s Tokyo office. He specialises in the financing of infrastructure and energy projects.
Aviation finance is a further strength of the firm and Milbank’s lawyers advise on public and private asset-based securitisations and structured financings, publicly offered and privately placed securities, acquisition and leveraged leasing, mergers and acquisitions and bankruptcy workouts and restructurings. Leader of the transportation and space group Elihu Robertson is “top notch” on aircraft finance matters including EETC transactions, note offerings, acquisition financings, aircraft portfolio securitisations, airline bankruptcies and domestic and cross-border leases. Drew Fine is chair of the firm’s finance practice. He has extensive experience in financings and transactions involving aircraft rolling stock and vessels. In London, James Cameron acts for banks, lessors, manufacturers, operators and arrangers on asset leasing and financing transactions. Helfried Schwarz specialises in aircraft and equipment financings while Young-Joon Kim in Hong Kong is an aviation finance “expert” and has represented leading air carriers in Korea and Japan in a series of export-credit financings for the acquisition of Boeing and Airbus aircraft.
The firm’s banking practice is also “highly reputed” and Marc Hanrahan, the practice group leader of the leveraged finance group, stands out for his “unrivalled” expertise in this area. He has handled major transactions for Bankers Trust Company, Barclays Bank, the Chase Manhattan Bank, Credit Suisse and Goldman Sachs Credit Partners, among others.
Further recognition goes to Norbert Rieger and Peter Nussbaum for their M&A expertise. Rieger is based in Munich and Frankfurt and his practice covers all areas of corporate/M&A and private equity. Nussbaum is also located in Munich and has been spending significant time focusing on outbound M&A from China.
The firm has a long commitment to providing pro bono legal advice and engages in activities such as redressing human rights violations and bringing safety and security to battered women. Milbank’s dedication to the practice of pro bono is evident in its stipulation that each and every lawyer dedicate a minimum of 20 hours annually.
Milbank looks to attract lawyers with one important similarity: a shared commitment to excellence, and believes that diversity of its people, culture and ideas is essential. Its diversity committee was established in 1992. Examples of the firm’s programmes include a women’s initiative, flexible working arrangements, mentoring and training and a diversity scholars programme.
In an address to Milbank partners, newly elected chairman Scott Edelman described London as an “exciting story”. The office has attracted several magic circle partners since 2012 including project finance lawyer Clive Ransome and competition specialist Nicholas Spearing. The future for the firm looks bright as it continues to evolve while maintaining its focus on producing high-quality work for clients.
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