Market leader with an exceptional reputation across a wide range of banking and finance matters including private equity financing, structured finance, investment funds and covered bonds as well as regulatory issues. Advises major national and international banking institutions on domestic and cross-border transactions involving Portuguese-speaking jurisdictions such as Angola and Brazil.
"As a firm, I consider them to be on an excellent level in terms of market presence and expertise."
"It is my favourite firm, because it provides good advice, delivers on time and has great understanding of its clients' needs."
Well-established firm which frequently advises state-owned institutions and banks. Offers experience across the full scope of capital markets with a focus on debt, public offerings and hybrids and other securities. Regularly advises on mandates with a cross-border element in Angola, Mozambique and other lusophone African countries.
"By far the best lawyers in Portugal for capital markets. They present the most innovative solutions and have the best capacity to adapt to new and challenging operations."
Competition/European Law
2016
Noted for its considerable dimension and track record, this Portuguese powerhouse remains a leading light in the market. Advises on the full gamut of competition and EU law including state aid, merger control and private enforcement matters.
"Outstanding in competition law."
Outstanding bench strength and high-profile client base. Covers the full scope of litigation, white-collar crime and domestic and international arbitration in lusophone countries such as Angola, Mozambique and Brazil.
"The team has extraordinary knowledge of the market and the initiative to contribute solutions that are not usually presented by other firms."
"We use this team for our most complex matters because they offer a whole other dimension to their advice. The lawyers are some of the best you can find in the country."
Solid litigation practice coupled with expertise in regulatory matters such as employment agreements. Often advises high-profile domestic and multinational clients on employment issues related to restructurings and business transfers.
"The team puts our legal questions in a business context and shows strategic thinking."
"The firm shows a lot of quality in many different areas, which isn't easy to achieve."
Energy & Natural Resources
2016
Offers outstanding expertise across the gamut of regulatory issues and projects in energy and natural resources. Also handles a considerable flow of domestic and cross-border transactions, such as M&A and joint venture agreements for key clients in the sector.
"The team is flexible in its approach to corporate matters, creative in its solutions and impressively responsive. The firm's extensive network facilitates international negotiations."
"This is a knowledgeable and long-standing energy team."
Highly regarded outfit with outstanding expertise in insurance, reinsurance and pension funds. Advises leading domestic and international players on the full scope of insurance matters, including the conception of products, insurance tax, claims and litigation.
"One of the best teams in Portugal with this speciality."
"The team shows a lot of concern for the client and is very responsive."
Intellectual Property
2016
Covers the full scope of contentious and transactional IP in sectors such as pharmaceutical and media. Particularly skilled in arbitration and image rights.
"A proactive team that always provides practical solutions to clients."
Full-service Portuguese giant offering a breadth of expertise across all planning issues. Frequently advises on municipal land use and the construction of retail, tourism and industrial sites.
"We have an excellent opinion of the firm and appreciate its great professionalism."
Strong practice demonstrating remarkable know-how in the set-up and structuring of private equity funds. Covers regulatory and transactional mandates, often advising on the incorporation of national and transnational funds for strategic investments in Portugal.
"The team delivers high-quality work. We trust in the decisions and proposals they make."
Leading Portuguese outfit praised for its wide-ranging insight into project finance across the energy, transportation and construction sectors. A popular choice for domestic banks on restructuring and financing operations.
"The team responds to any question on time, cautioned us about risks we weren't aware of and did an excellent job at co-ordinating the work in different jurisdictions."
Broadly experienced across a variety of regulated sectors, such as life sciences, energy and TMT. Advises major domestic and international clients on regulatory, licensing, public procurement and public tenders.
"A thorough team that provides a lot of confidence."
"The lawyers show interest in helping us and understand what we want."
Noted for its significant corporate know-how in real estate matters stemming from M&A and joint ventures. Recent focus on real estate investment including rehabilitation.
"The team inspires trust and has lawyers of great skill and merit."
"The lawyers respond quickly and show availability."
Restructuring/Insolvency
2016
Multidisciplinary team focused on covering all aspects of restructuring operations including tax and corporate law. Further experience in advising creditors on insolvency proceedings.
Sophisticated tax practice across the firm's Lisbon, Porto and Madeira offices. Advising financial institutions, corporates and private clients on a range of matters such as international taxation, restructuring, VAT and litigation.
"The lawyers' technical preparation is remarkable and they show concern and consistency in the pursuit of the solutions that best represent our interests."
"The team is very knowledgeable of tax matters and presents solid arguments."
Multidisciplinary team with depth of expertise in corporate and competition mandates in the telecoms sector. Growing experience in data protection and litigation.
"The lawyers are able to contextualise matters and understand the circumstances of the company."
Transportation: Aviation
2016
Active in both civil and military aviation. Considerably experienced in advising private air carriers and international aircraft suppliers, covering licensing, registration, aircraft leases and purchase agreements.
"We appreciate the team's responsiveness and commercial insight into the industry, which is very important."
Transportation: Shipping
2016
Funchal-based department boasting a wealth of experience in ship registration. Also covers salvage, pollution and insurance issues.
"The team exceeded our expectations - it was extremely responsive and the quality of the legal work is remarkable."
Morais Leitão, Galvão Teles, Soares da Silva & Associados is particularly renowned for its project finance expertise, and recently assisted both the borrower, Parque Eólico do Pisco, and the shareholder, WPR – Windpartners Renováveis, with the financing of the construction, operation and maintenance of a €50m wind farm; Filipe Lowndes Marques led the advice. Pedro Gorjão Henriques and practice head Luís Branco are also recommended.
Morais Leitão, Galvão Teles, Soares da Silva & Associados has an excellent track record in capital markets work. On the debt side, the team acts for Barclays, Energias de Portugal (EDP) and Morgan Stanley. Practice head João Soares da Silva, Luísa Soares da Silva and Carlos Osório de Castro are key names to note. Ricardo Andrade Amaro and Eduardo Paulino were made up to partners in 2015.
Morais Leitão, Galvão Teles, Soares da Silva & Associados has a sizeable team with 15 partners dedicated to this area, including a number of well-regarded figures, such as Carlos Osório de Castro, Nuno Galvão Teles and João Soares da Silva. Eduardo Paulino and energy and natural resources specialist Ricardo Andrade Amaro were promoted to the partnership in 2015. The team advised Solvay on a joint venture agreement with specialty and intermediate chemicals company INEOS for the creation of a joint PVC producer, and assisted EDP Labelec with setting up an R&D centre.
Morais Leitão, Galvão Teles, Soares da Silva & Associados is involved in several arbitration proceedings in Lusophone countries. On the litigation front, Francisco Cortez is representing Deutsche Bank in a case against two of its clients pertaining to a contractual change following the financial crisis. Practice head António Pinto Leite was appointed as the Portuguese member of the ICC International Court of Arbitration in July 2015. Also recommended are Miguel de Almada and arbitrator Filipe Vaz Pinto, who is an ‘intelligent and seasoned lawyer’.
The ‘very professional’ group at Morais Leitão, Galvão Teles, Soares da Silva & Associados receives standout instructions across the full spectrum of competition matters. Carlos Botelho Moniz, Pedro de Gouveia e Melo and the ‘intelligent’ Luís do Nascimento Ferreira were part of a team representing EDP in a high-profile state aid investigation undertaken by the European Commission. Joaquim Vieira Peres is taking a leading role advising clients on complying with the 2013 Restrictive Trade Practices Act.
At Morais Leitão, Galvão Teles, Soares da Silva & Associados, the ‘very good’ team handles a broad spread of contentious and advisory work. Practice head Pedro Pardal Goulão is recommended, and Helena Tapp Barroso is advising the Impresa Group on labour and social security matters. Previous practice head Luís Miguel Monteiro (‘who is very competent and highly reliable’) remains a key part of the team, which also includes António Emílio de Vasconcelos, Joana Almeida and Paula Ponces Camanho.
Energy and Environment
2016
Morais Leitão, Galvão Teles, Soares da Silva & Associados acts for major consortia including Galp Energia and EDP – Energias de Portugal; Nuno Galvão Teles and the recently promoted Ricardo Andrade Amaro are advising the latter on electricity tariff securitisations. Tomás Vaz Pinto is a key name for energy transactions and senior associate Catarina Brito Ferreira is also recommended.
Fraud and white-collar crime
2016
Morais Leitão, Galvão Teles, Soares da Silva & Associados routinely acts on high-profile fraud cases and is also experienced in handling international criminal law and compliance matters. Practice head Rui Patrício is defending a board member and several employees of Banco Espírito Santo against criminal charges for insider trading, and is representing Maria Eduarda Casadinho Napoleão, Lisbon’s former town planning councillor, in criminal proceedings pertaining to the alleged unlawful approval of a property sale to BragaParques. Tiago Félix da Costa is also recommended.
Insolvency and Restructuring
2016
Morais Leitão, Galvão Teles, Soares da Silva & Associados assisted pharmaceutical distributor OCP Portugal with the recovery of credits in insolvency and revitalisation proceedings involving several pharmacies, and routinely advises banks on credit recovery from insolvent lenders. Helena Soares de Moura and Carlos Osório de Castro are standout practitioners.
Intellectual Property
2016
At Morais Leitão, Galvão Teles, Soares da Silva & Associados, António Pinto Leite is highly rated for IP arbitration, recently handling patent disputes in the pharmaceuticals sector. Carlos Osório de Castro advises well-known personalities such as Cristiano Ronaldo on image rights. Senior associate and ‘great negotiator’ Vasco Stilwell d’Andrade ‘achieves extraordinary results’, and Tomás Vaz Pinto and senior associate Ricardo do Nascimento Ferreira are also recommended. Clients include Apple, One-Red and SK Chemicals.
Oporto: Leading Commercial Firms
2016
The Oporto office of Morais Leitão, Galvão Teles, Soares da Silva & Associados was recently retained by Meriton to handle the acquisition of FC Valencia; a matter led by Carlos Osório de Castro. Corporate and commercial practitioners Bernardo Lobo Xavier, Luís Gagliardini Graça, Jorge Simões Cortez and Eduardo Verde Pinho, along with EU and competition expert Joaquim Vieira Peres, and head of tax António Lobo Xavier are the names to note.
The planning team at Morais Leitão, Galvão Teles, Soares da Silva & Associados works closely with the firm’s real estate practice, as well as handling standalone matters. João Pereira Reis and Rui Ribeiro Lima are assisting Millennium BCP with planning issues pertaining to the construction of two buildings in Lisbon, which includes advising on planning permits.
Morais Leitão, Galvão Teles, Soares da Silva & Associados received a flow of instructions from Galp Energia, as project sponsor, and Âncora Wind – Energia Eólica to prepare, revise and negotiate works contracts, which included assisting with five works contracts for the construction of wind farms with Senvion. Luís Branco, Filipe Lowndes Marques and Filipa Morais Alçada are ‘able to quickly present solutions and alternatives’ in negotiations. Ana Monjardino and Pedro Gorjão Henriques are also recommended.
Morais Leitão, Galvão Teles, Soares da Silva & Associados has notable expertise in the pharmaceuticals sector, where Margarida Olazabal Cabral is leading advice to several pharmaceuticals companies on the public procurement procedure for the supply of medicines and medical devices to Portugal’s health authority. In other work highlights, Fernanda Matoso is assisting Agustawestland with the supply of helicopters to the Portuguese armed forces. Nuno Peres Alves, Pedro Costa Gonçalves and Miguel Nogueira de Brito are also recommended.
Morais Leitão, Galvão Teles, Soares da Silva & Associados regularly wins key instructions on high-profile transactions. Filipa Arantes Pedroso led a team, which included new partner Rita Ferreira Vicente and Rui Ribeiro Lima, advising Fundo de Pensões EDP on two deals relating to the sale and leaseback of buildings in Lisbon’s business centre. João Pereira Reis is a key name for environment matters and real estate litigation.
Morais Leitão, Galvão Teles, Soares da Silva & Associados is a “go-to” adviser for NOS Comunicações and media group IMPRESA, and is increasingly instructed by online gambling companies. IT and data protection specialist João Alfredo Afonso, telecoms expert Nuno Peres Alves and Oporto-based António Lobo Xavier, who is experienced in electronic communications regulations, are recommended.
Morais Leitão, Galvão Teles, Soares da Silva & Associados provides ‘detailed and professional’ advice on tax structuring, compliance and litigation. Oporto-based António Lobo Xavier and ‘tax expert’ Francisco de Sousa da Câmara head the team, which includes António Pedro Braga, Maria Quintela and recently promoted partner Bruno Santiago.
Shipping and Transport
2016
The lawyers at Morais Leitão, Galvão Teles, Soares da Silva & Associados provide ‘timely and informed responses’. Segismundo Pinto Basto leads the aviation team. Madeira-based senior associate Cátia Fernandes has expertise in aviation tax, while also advising shipping clients on Madeira’s special tax regime.
The banking and finance department led by partner Luis Branco has had involvement in a lot of refinancing and project financing transactions during the last year, as increased bank liquidity allows the sector to re-emerge post crisis. Although generally tending to work on the bank side, acting for most of Portugal’s largest banks on a regular basis, the firm advises on the borrower side on occasion.
A leader in project finance, the firm has long worked on financing in sectors including energy, transport, infrastructure and public projects, both domestically and in lusophone Africa, where MLGTS has a number of associate firms. During the last year the firm was most active with the financing of wind farms, assisting on the financing of several across Portugal for a number of companies including Parque Eólico and Terras Altas de Fafe, as well as Ancora Wind for whom they worked with Galp Energia to fund a 400KV farm worth €175 million.
The debt market in Portugal has come to a halt recently, and as a result the capital market team has been far more active on the equity side. Despite this the firm was active in a couple of transactions, for instance Luísa Soares da Silva advised Energias de Portugal (EDP) with the issue of €1 billion of notes due 2022, under its €12.5 billion programme.
Mergers and Acquisitions
2016
The corporate practice remains strong, and despite a faltering market the firm has acted on several M&A mandates in the last year. Representative highlights include the acquisition of Spanish football club Valencia CF for €400 million by Meriton Holdings, a complex deal that included the refinancing of the club’s debt. Due in part to an increase in inward private equity investors, the firm has also acted on private equity M&A deals, as well as offering regulatory advice. Examples include advising Oaktree Capital Management with the formation of Oaktree European Principal Fund III.
On the equity side the practice advised Banco Comercial Português on a share capital increase of €2.24 billion of new ordinary shares offered to existing shareholders. Working alongside a number of global firms, a key highlight was the firm’s extensive work for construction company Mota-Engil SGPS and its subsidiary Mota-Engil Africa. Closing in November 2014, transactional work included the distribution of 20% of Mota-Engil Africa’s shares to the shareholders of Mota-Engil SGPS, and the proposed floating of the company on the LSE, an idea eventually scrapped in favour of listing on Euronext Amsterdam. The matter was valued at over €2 billion.
Restructuring and Insolvency
2016
Led by partner Helena Soares de Moura the multidisciplinary restructuring and insolvency team focuses primarily on out of court, pre-insolvency negotiations, and is seeing a raft of restructurings, rather than insolvency matters, this year. A key highlight for the team was orchestrating a recovery plan for Hagen Engenharia, a part of the construction and engineering firm Elovo Group, with the firm conducting negotiations between the company and its creditors.