A “buoyant and insular” Aberdeen market continues to attract the attention of domestic and international law firms, a new report says today.
The latest edition of the Legal 500 review of UK law firms also highlights the “key role” played by a central belt firm – Harper Macleod – in the north, where its clients include Inverness College.
Legal 500 is an annual overview, with rankings, of who does best in different areas of law throughout Britain.
CMS and Pinsent Masons share the top spot for oil and gas business in Scotland.
The report says: “CMS is a market leader and has an enviable exploration and production client following.”
Penelope Warne and her energy team at CMS recently advised North Sea oil firm EnQuest on its acquisition of a 50% interest in the Kittiwake, Grouse, Goosander, Mallard and Gadwall fields from Centrica.
Pinsent Masons, with Bob Ruddiman at the helm of energy and natural resources, is hailed in the report for its “responsiveness, industry knowledge and pragmatic approach” as well as expertise in oil and gas finance deals.
It also credits Burness Paull, Blackwood Partners, Ledingham Chalmers, Stronachs, Blackadders, Brodies, Thorntons Law, Aberdein Considine, Maclay Murray & Spens, Raeburn Christie Clark & Wallace and the Commercial Law Practice for their work outside Scotland’s central belt.
Stronachs, which has offices in both Aberdeen and Inverness, is praised for its “willingness to go the extra mile to ensure transactions progress and conclude smoothly”.
In its regional review, Legal 500 says: “Following the collapse of Kennedy’s planned merger with Simpson & Marwick in December 2013, CMS announced its plan to merge with institutional player Dundas and Wilson the following day.
“The former, which is a dominant force in the Aberdeen oil and gas market, stands to benefit from the latter’s strong central belt presence.
“Recent changes leave only two of the traditional big four Scottish firms operating independently, Shepherd and Wedderburn and Maclay, Murray & Spens, both of which are significant players and continue to perform across a range of sectors.
“A divide in the market is clear, however, as firms such as Burness Paull and Brodies focus their efforts on dominating the domestic market, eschewing London offices and tie-ups.”
It adds: “The buoyant but insular Aberdeen market has continued to attract the attention of both domestic and international firms and the aforementioned CMS/Dundas & Wilson merger is sure to alter the local landscape.
“Following a series of departures in 2013, Maclay Murray & Spens has pushed to re-establish itself in Aberdeen through the hire of corporate and commercial partner Andy Lowe.
“Brodies ‘s commitment to the Aberdeen market was evidenced by its announcement, in February 2014, of a planned move to a new purpose-built premises in the city later that year.
“Burness Paull, Bond Dickinson and Stronachs all have impressive local oil and gas sector offerings.”