Comment: A recommended firm for corporate litigation which has maintained strong ties to the finance sector since the year dot. The firm looks after a number of top-class cases in this regard, e.g. in relation to D&O liability. These cases are currently emerging through work with the firm’s tax and criminal law experts on dealing with the aftermath of dividend stripping (“cum-ex”) cases. Furthermore, cartel damages cases sometimes form the basis of the firm’s liability cases, while D&O liability matters for companies also arise out of compliance advice and, on occasion, from advice on insolvency or product liability matters. Investor claims and objection proceedings are less prominent than at some competitor firms, however Clifford is also busy assisting in complex proceedings for VW with regard to the attempted takeover by Porsche.
Strengths: Banking and capital markets disputes.
Development potential: Other corporate practices boasting established contacts with German corporations are currently benefiting more from the big topic of D&O liability than Clifford. The lateral recruits that joined the company over the past few years could put their litigation expertise to much better use among their established contacts.
Recommended: Burkhard Schneider (“good sparring partner for litigation strategies”, client), Dr. Michael Kremer.
Practice: Advice on ?corporate legal challenges and challenges against board resolutions as well as shareholder disputes, esp. in the case of restructuring, often with ?insolvency administrators and restructuring lawyers; increasingly D&O liability disputes in connection with ?compliance advice. (Corporate: 18 partners, 4 counsel, 22 associates, 1 of counsel; dispute resolution: 5 partners, 2 counsel, 18 associates)
Clients: ?? VW in investor claims concerning attempted takeover by Porsche; BayernLB in action for damages against former directors regarding acquisition of ABS products; BNP Paribas in objection proceedings.
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