Lawyers 1,720
Turnover £879 million
Offices 31
In the wake of destruction caused by the Russian invasion of Ukraine, the firm advised Citibank and UK Export Finance (UKEF) on a £26.3 million loan backed by the UK government to enable the Ukrainian government to start rebuilding six bridges and reopen vital supply routes near Kyiv.
In an unprecedented transaction from a export credit agency, UKEF agreed to issue a buyer credit loan guarantee that allows the Ukrainian government to access financing from Citi, unlocking funds for Kyiv Oblast’s Road Service.
The funding will enable the urgent rebuilding of bridges and supply routes in the Kyiv region that have been damaged or destroyed by the Russian military. This will ensure that the people and government of Ukraine can once more use critical transport links around the capital.
The firm advised Uefa over its challenge to the establishment of the European Super League, the breakaway football competition intended to replace the Champions League, announced in 2021 by 12 of the biggest European football clubs.
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In December 2022, an opinion from Athanasios Rantos, advocate-general of the Court of Justice of the European Union, agreed with Uefa and Fifa that the project required prior approval from the football governing bodies. Rantos’s opinion, which does not bind the court in its final decision, also said that Uefa and Fifa were within their rights to impose sanctions on clubs who joined the breakaway competition, which has suspended its operation. A final decision by the European Court of Justice is pending.
The firm, which was founded in 1822 in the City of London under the name Ashurst Morris Crisp, now has offices in 18 countries.
In November, the firm announced that it had established a joint venture with the Korean practice HwaHyun, becoming the first international law firm permitted to practice local law there since the legal market opened in 2011. A spokesman said that the joint venture would begin with four partners supported by a team of associates from both firms and focus on outbound and inbound merger and acquisition work, corporate advisory, cross-border disputes and investigations and international arbitrations.
In the most recent financial year, the firm’s revenue grew by 10 per cent to £879 million, but the pressure of high inflation and rising costs meant that profits per equity partner were down slightly, from a record high of £1.175 million in 2022 to £1.170 million.
★ Commended for banking & finance; commercial property; energy & renewables; planning
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