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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Corporate and Commercial

FROB - Nomura

  • bidding process of Banco de Valencia, a Spanish listed bank, acting for the Spanish Public Fund for Orderly Bank Restructuring (FROB) and a leading international investment bank, its financial advisor; sale of the control shareholding to CaixaBank and increase of capital for an amount of EUR 4.5bn; and execution of an asset protection scheme


  • exchange offer of preference shares of Meliá Hotels for newly-issued unsecured senior notes, for an amount of EUR 100 million, acting for the sole financial advisor and dealer manager, a leading international investment bank


  • advising Telefónica on its £17.7bn takeover offer for O2

Lyreco, S.A.S

  • advising Lyreco,S.A.S on the agreement for the acquisition of Antalis Office Supplies in Spain and Portugal (for a value of €20m), and on the acquisition of the 50% share capital that Unipapel formerly owned in Ofiservice.

Dispute Resolution / Litigation


  • advising and defending BBVA credits in the bankruptcy proceedings of Fernando Martin, main shareholder and President of Martinsa/Fadesa (whose insolvency is the biggest one in the history of Spain as for 2011)
Banco Santander
  • advising Banco Santander, as a creditor during Forum and Afinsa’s insolvency proceedings
Fondo de Garantía de depósitos en Establecimientos Bancarios
  • defending this institution against the former owner of Banco de Valladolid in proceedings involving a claim for €185m


Corporate restructuring
  • advice on corporate restructuring, insolvency and HR policies to various companies in the financial institutions, insurance, IT, energy, consulting and chemical sectors.

Financial Markets

Banco Bilbao Vizcaya Argentaria, S.A.

  • advising BBVA on a repackaging programme for the transfer of a series of structured notes to a Dutch

Morgan Stanley Bank International LTD

  • advising on the acquisition of a distressed debt portfolio from a Spanish bank

A Leading English bank

  • advising on the negotiations for the refinancing of various syndicated loan agreements with Spanish property developers, including Reyal Urbis, Afirma, Renta Corporación and Inmobiliaria Chamartín.

Regulatory Finance

Foreign Hedge Funds Managers
  • advising on promoting their funds in Spain in accordance with the AIFMD as well as analysing the effect and impact of new regulations on businesses operating in the financial services sector.
Global Management Companies
  • advising on fund distribution issues in Spain, including regulatory assistance on agreements, financial advertising, as well as compliance with local rules.
Local and foreign investment firms
  • acting in Spain in their relations with the supervisory authorities and other on-going regulatory issues.


  • advising various hedge fund managers on promoting their business and investing in Spain, and Spanish investment advisors advising on hedge funds

  • advising various investment banks in relation to the Spanish tax treatment of structured products for institutional or retail (HNWI) investors.