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Simmons & Simmons's tax practice is led by René van Eldonk. He is one of two partners, both of whom have more than 20 years experience in tax. There are nine tax practitioners at the international firm's Netherlands outpost.The practice focuses on transactions ... [more]

Simmons & Simmons's tax practice is led by René van Eldonk. He is one of two partners, both of whom have more than 20 years experience in tax. There are nine tax practitioners at the international firm's Netherlands outpost.

The practice focuses on transactions in capital markets, asset management, structured finance, funds and group restructurings. This year partner Peter Flipsen advised on the group restructuring of Office Depot, which involved the implementation of advance pricing agreements and horizontal oversight.

Van Eldonk advised UBS on an issuance as part of a €15 billion notes programme. Other clients they have worked for this year include Essent, Banco Bilbao Vizcaya Argentinia, AXA Investment Managers, Standard Bank, Coca-Cola Enterprises and Renaissance Capital.

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The Spanish tax practice of Simmons & Simmons is a new addition to the rankings for 2012. The tax department led by Juan Sosa Pons-Sorolla is similar to the firm's tax departments in other countries in its financial services focus. Several hedge funds ... [more]

The Spanish tax practice of Simmons & Simmons is a new addition to the rankings for 2012. The tax department led by Juan Sosa Pons-Sorolla is similar to the firm's tax departments in other countries in its financial services focus. Several hedge funds in Spain rely on the firm for their tax advice, as do Värde Partners, Barclays and Global Sales Solutions. The firm's strength in financial services sector tax is illustrated in their role in Värde Partners' investment in distressed debt and real estate portfolios in Spain. The firm implemented an offshore/onshore structure to ensure sufficient flexibility in the structure to allow for joint ventures with local partners to service the debt of specific investments as necessary, and tax efficient investments in a variety of assets. The firm also provided Global Sales Solutions advice on its service agreement with a major South American Technology, Media and Telecommunications body ensuring that there were no tax complications due to the cross border element of the agreement.

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This year, Simmons & Simmons was recognised as the European Financial Services Tax Team of the Year at the International Tax Review European Awards, reflecting the firm's cross-jurisdictional strength in financial services. In London, Nick Cronkshaw ... [more]

This year, Simmons & Simmons was recognised as the European Financial Services Tax Team of the Year at the International Tax Review European Awards, reflecting the firm's cross-jurisdictional strength in financial services. In London, Nick Cronkshaw leads the corporate tax team which has seen a rise in M&A and real estate tax issues this year as the financial sector continues recovery. Martin Shah coordinated advice given to British Land on tax efficient structuring of their proposed construction of new headquarters for one a Swiss investment bank on Broadgate, a building worth some £600 million. Revisions were necessary to British Land's joint venture agreement with Blackstone, complicating tax matters in an already intricate structure. Simmons & Simmons coordinated the tax elements of corporate restructuring, new debt finance taken by British Land and various real estate issues in a project involving a multitude of advisory teams. The firm capitalised on work done for BlueCrest Capital Management last year as Aron Joy and Candice Nichol supported Shah in the buyout of Man Group's 25.5% stake in the fund by Blue Crest's partners in March 2011. Financial support was provided by way of a senior debt facility arranged by HSBC and RBS and issue of loan notes by Blue Crest. Each of these had to be considered when designing the overall structure to minimise tax liability, especially in light of the potential impact of raising the senior debt facility against the business' cash flow. The firm is highly regarded by both clients and competitors in certain sectors. A partner at one firm said that "Simmons & Simmons is our main competitor in financial services tax advice." [hide]