The 2004 merger of Morais Leitão, Galvão Teles & Associados and Miguel Galvão Teles, João Soares da Silva & Associados cemented the group’s reputation as Portugal’s “leader” in banking and finance issues. Clients feel its “fantastic client base” and “star practitioners” put the firm “right at the very top of the list”. Other observers also viewed the combination as a success, pointing to the additional client build-up and deeper talent pool – including 85 lawyers, of 17 are partners. The group has represented the Portuguese government regarding non-performing tax and social security claims as well as advising Banco Espírito Santo. Representing the Bank of New York, the group advised on various domestic banking and securitisation issues. The Clients: The team advised EDP on an Iberdrola stock sale. Other clients include Banco Português de Investimento, Banco Espírito Santo, Banco Santander and Bank of New York.

Over the past year the firm advised on e of the biggest soccer clubs in Portugal, as well as the banks financing the other two biggest soccer clubs - Benfica and Porto. This was in connection with the financing of the construction, operation and maintenance under a project finance regime of the football stadiums for the Euro 2004 event. The group continues to advise on a range of water and wind farm projects and has been appointed to advise Banco Espírito santo Investment with its PFI/PPP. The team also acted for Lusoponte - Concessionária para a Travessia do tejo SA, the concessionaire for the construction, financing and operation of the vasco da Gama Brdge over the river Tagus and the operation and maintanance of the 25th April Bridge under a project finance regime, which is amongst the first infrastructure project finances in Portugal. The Clinets: Kusoponte; Abertis;espirito santo Investment;Banco BPI;HypoVereinsbank;Natexis Bank and Fortis Bank.

Morais Leitão, Galvão Teles, Soares Da Silva & Associados now boasts two of the most revered practitioners in the Potuguese banking finance sector, in partners Joao Soares da Silva and Luís Branco. The firm’s outstanding performance includes advising Natexis Bank and Fortis Bank on the €802m financing of several water concessions and also advising Banco Comercial Portugues – Millennium BCP on its financing of the concession for the construction and operation of a key toll road in the country (Litoral Centro).

Another of the highly experienced firms in this area is Morais Leitão, Galvão Teles, Soares Da Silva & Associados. Partners Luís Branco and Filipa Arantes Pedroso head a team which has been involved in some key projects last year, such as the concession for the construction and operation of one of the main toll roads in Portugal (Litoral Centro) – the firm acted for Banco Comercial Portugues – Millennium BCP – and also in the financing of a wind farm project in the north of Portugal (acting for the banks).

“Legal superstar” Luís Branco is widely admired as probably “the one and only market leader for project finance”. Rivals noted that “he makes it look easy”, maintaining a “tranquil demeanour” in difficult situations. His “solution-oriented” approach and “solid scientific background” also won kudos among observers, who added that “he can foresee the immediate result and deal with it”.

Miguel Galvão Teles is noted for his “tremendous flair and intensity when dealing with international law.” Clients “can’t pinpoint this expertise” as his practice is one of the most diverse in the field, although interests have included banking, litigation, civil and corporate law. He is truly “one of the most brilliant legal minds.”

Pedro Gorjão Henriques impressed clients with his “dedicated work ethic” and was noted by competitors for his “exceptional” banking practice issues.

"Brilliant" Luís Branco has a "second to none advantage through his amazing banking connnections," clients feel. Market observers refer to him as "undoubtedly the leader in the field." He spearheaded the team advising a banking syndicate comprising Banco Bilbao Vizcaya Argentaria and Bayerische Hypo und Vereinsbank Aktiengesellschaft on the shadow toll motorway of the Interior Norte (Norscut) worth around € 1.15 billion. Branco's team is currently advising the banks on various issues, including changes of law, shareholders and hedging agreements.