Our Madrid office was opened in 2000 and in response to client needs, we strengthened our practice by merging with the Spanish firm Mochales & Palacios in 2007. The office plays a prominent role in the firm’s European network and works closely with our other offices.

Our Madrid team of English qualified and Spanish lawyers have a deep understanding of the Spanish market and extensive experience advising Spanish and international clients in major industry sectors, such as Asset Management & Investment Funds, Financial Institutions, Life Sciences and Technology, Media and Telecommunications. Our particular expertise comprises to corporate and commercial, M&A, banking, financial services and regulatory, capital markets, tax, dispute resolution and arbitration, fraud, insolvency and restructuring and employment.

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Dispute Resolution

  • defend the interests of a leading UK financial institution in relation to the subordination of the Bank’s credits in the insolvency proceeding of the company that owns the Financial City of Banco Santander
  • acting as arbitrator at the CCI and before the Court of Arbitration of the Chamber of Commerce of Madrid and the Madrid Bar Association in multiple procedures
  • advising FROB (Bankia case) in the criminal proceedings initiated of the so-called black cards
  • representing one of the defendants in the so-called Gürtel case
  • instructed to represent one of the defendants in the Forum Filatélico case
  • advise regularly Spanish bad bank for the management of assets from proceedings arising from the restructuring of the Banking System in several complex insolvency proceedings
  • advise to a leading international and national financial institutions on pre-insolvency, insolvency or prebankruptcy proceedings from the debtor’s and the creditor´s perspective

Financial Markets

  • advising leading Spanish companies on the set up and the issue of notes of EMTN programmes in Ireland
  • establishment and update of ECP programmes in Ireland for Spanish corporates (listed in IBEX35)
  • advising international investment banks and Spanish companies in the restructuring process and refinancing of debts of several major Spanish corporations
  • advising on various loan facilities granted to Spanish companies operating in a variety of sectors under a restructuring arrangement with creditors
  • legal advice to international financial institutions and hedge funds on the transfer/acquisition of participation in syndicated loans with a Spanish borrower (Pescanova, Cementos Portland, FCC, Prisa, Abengoa, Deoleo, Cortefiel, Marme, IDC Salud, Natra, Amper, Acciona, Realia and La Seda)
  • acquisition of mortgage loans from Spanish banks for major international US hedge funds and investment banks

Financial Regulatory

  • setting up various branches in Spain ofEU investment firms
  • adapting procedures and internal documentation in view of new regulations (UCITS V, MiFID II, AIFMD and PRIIPs)
  • analysing different alternatives on a multijurisdictional scenario in the context of Brexit
  • advising various institutions on local conduct of business rules
  • designing new models of cross-border distribution for UCITS and AIFs
  • advising fund managers on assets eligibility of their products for investment by Spanish products
  • communicating short positions and advising foreign funds on the application of short selling restrictions
  • advising hedge funds managers in various regulatory matters (licensing requirements, cross-border business and cap intro events)


  • promote business, invest in Spain and advice hedge fund managers on complex cross-border tax issues.
  • advising PE firms and private investors on international tax planning and the use of Spanish holding companies (ETVEs)
  • counsel US and UK PE fund managers on the tax structuring of the acquisition of distressed mortgage-backed assets and real estate by distressed debt funds
  • advising a major US and UK hedge fund managers on Spanish nonresidents taxation (financial investments and Spanish tax implications derived from the marketing and distribution of funds)
  • guidance UK investment firms on the setting up and operation of sales branches in Spain
  • legal opinion to leading global asset managers on tax litigation matters concerning dividend WHT refunds on the basis of EU law and ECJ case law (“Fokus Bank claims” and others)
  • advising unit-linked insurers on a crossborder tax implications and clients personal taxation issues.


  • advice to a leading financial institution on complex litigation cases and remuneration schemes
  • continuous advice to leading companies in the Spanish life science sector, in their strategic employment matters in Spain, including labour litigation cases
  • advice in M&A deals to avoid any litigation and internal conflicts for its adequate closing
  • negotiations for the incorporation of partners/directors from competitors and/or constructive dismissals claims filed by former managers
  • advising international and national financial institutions and leading companies on all aspects of their HR policies

Corporate & Commercial

  • advice sellers of a financial advisory mid-market specialist on the acquisition of the company by a Spanish Private Equity
  • advice to a multinational Spanish banking group on the incorporation of a FinTech fund for transnational financing transactions US – Europe
  • advising a leading next generation mobile operator on the incorporation, licensing, granting of numbering and developing of a Mobile Virtual Network Operator in Spain
  • advising a leading provider of Internet broadband network and enterprise business solutions in its worldwide group restructuring process
  • advice to a Spanish Fund for the orderly restructuring of the banking sector in the sale of an investment bank
  • assisting several health care companies with daily corporate advice
  • providing data protection sanity check to international companies

Real Estate

  • advising a UK real estate investment firm in the purchase of residential buildings in Madrid for refurbishing the assets and sale the new residential units
  • legal advice to an American fund manager and a Dutch real estate firm in the acquisition of units of a Shopping Centre, due diligence process, negotiating the SPAs and financing of the deal
  • advice to Spanish SOCIMIs in the refinancing by national and international banks of the acquisition´s debt related to shopping centres, warehouses and office buildings
  • sale of most of the properties of a UK investment company and lease negotiations for some of their assets
  • advising a Spanish bank in the disposal of their real estate servicing platform
  • advice to an American fund manager in the acquisition of 11 hypermarkets leased to a Spanish retailer.