VEGAS LEX on The Legal 500 EMEA 2019 rankings

VEGAS LEX has improved its ranking in traditionally strong categories of The Legal 500 EMEA 2019. In particular, the firm ranks first in PPP and infrastructure projects category.

Many experts of VEGAS LEX have been recommended in the ranking. The following experts have been named in the individual ranking in the PPP and infrastructure projects category:

Competition Law

VEGAS LEX focuses on anti-monopoly cases, compliance projects and regulatory advice. Alexander Sitnikov heads the practice, which handles work for key clients such as pipe producer TMK and Roche Diabetes Care Rus.

Dispute Resolution: Litigation

At VEGAS LEX, managing partner Alexander Sitnikov’s extensive experience in the corporate space covers conflicts relating to investment projects, the protection and recovery of business assets, corporate governance and restructuring. Department head Victor Petrov has a strong track record in commercial, corporate, insurance and bankruptcy disputes. Evgeniy Rodin is recommended for energy disputes. The practice represents a mix of clients from the aerospace, energy, life sciences and retail sectors.

Energy & Natural Resources Law

Specializing in power generation projects, VEGAS LEX regularly represents clients such as OGK-2 and Irkutsk Electric Grid Company in contractual, commercial and tax-related disputes. Evgeniy Rodin and Alexander Sitnikov are the main practitioners.

PPP & Infrastructure Projects

According to one client, VEGAS LEX has ‘the leading practice in the Russian PPP sector’; the team is known for its strong focus on large-scale PPP projects in the energy, transportation, ports and healthcare-related areas. The ‘highly reputable’ practice is led by ‘industry expert’ Denis Shtirbu and is well known for advising federal and regional governmental agencies and state-owned companies including Russian Railways and the Ministry of Transport of the Novosibirsk region. Irina Dolgikh ‘demonstrates exceptional knowledge, professionalism and attention to detail’.

Real Estate & Construction Law

Headed by the ‘diligent and responsible’ Igor Chumachenko, the real estate department at VEGAS LEX provides ‘high-quality and cost-effective legal services’ and is recommended for its ‘deep familiarity with the Russian regulatory framework and the local implementation of EPC projects’. The team supported the Development Corporation of Kamchatka with the implementation of the modernisation project concerning the Petropavlovsk-Kamchatsky (Yelizovo) airport.

TMT Law

The TMT practice at VEGAS LEX is headed by Alexandra Vasukhnova and advises on regulatory, contractual and e-commerce matters. Natalia Abtseshko is also noted. Clients include animation studio Sky and creative digital marketing agency Jami, among others.

Tax Services

VEGAS LEX has expertise across a broad range of tax matters including domestic and foreign tax structuring, tax support for major infrastructure projects and M&A transactions and customs. Yuriy Ivanov specializes in contentious tax and tax planning; he recently advised Russian Post on taxation and customs clearance matters pertaining to international mail and cargo operations. Denis Kozhevnikov assists Ivanov with contentious tax matters.

Transport Law

At VEGAS LEX, Denis Shtirbu heads the transport practice, which assists clients with major railroad infrastructure projects. The team advised the Ministry of Transport of the Novosibirsk Region during negotiations with government agencies regarding a high-value railway concession initiative. Dorogi Rossii is another notable client, among others.

If you would like to get more information about VEGAS LEX, please visit https://www.vegaslex.ru/

Commercial real estate consultancy appoints new associate director

2017 BYPY Finalist, Charles Jones, has been appointed associate director within Lambert Smith Hampton’s capital markets team.

“I’m excited to join Lambert Smith Hampton where I’ll be working closely with a highly skilled national hotel specialist team. Simon Stevens, David Creamore, Martin Davis, Dan Whittaker and Hugh Anderson are all industry leaders and very respected by operators within the sector,” said Charles, who will be based in LSH’s Birmingham office.

“I’ll be working hard to advise on a variety of transactions including independent, corporate, single assets, and portfolios, and developing relationships with existing and new clients.”

Charles added: “LSH has departments across the entire property spectrum, from building consultancy, lease advisory, planning and development, auctions, property finance and business rates, and I believe sitting closely to all these teams will help me develop my skill-sets.”

About Lambert Smith Hampton

Lambert Smith Hampton is one of the UK and Ireland’s leading, and most progressive, property consultancies with over 40 offices and 1,700 staff.

If you would like to find out more information about LSH, please visit https://www.lsh.co.uk/

AVELLUM successfully represents the client in GAFTA appeal

The GAFTA Board of Appeal satisfied in full the Client’s claim of approximately $150,000 (USD) seeking compensation for damages specified in a washout agreement that were caused by the failure to comply with the contract.

A washout agreement is a settlement agreement by which a party seeks to terminate the contract, without declaring a default, with compensation paid by the party who refuses to fulfil the contract. Typically, the compensation is the difference between the contractual price of the goods and the market price of the goods on the day of such a refusal.

The question of whether the parties concluded a washout agreement arises more and more often in trade disputes and has become the “cornerstone” of the case.

Iryna Moroz, partner of AVELLUM, commented as follows: “Our biggest challenge was that the parties discussed the agreement verbally through brokers. In addition, there were no formal labour or contractual relations between the representative of the counterparty and the company represented by him. These circumstances served as a ground for the counterparty to challenge the conclusion of the contract.

However, English law is flexible as to the form of a contract, which can be concluded either verbally or in writing using all possible means of communication. The authority of the company’s representatives is presumed in English law. That is why the existence of formal labour relations or other corporate restrictions in no way affects the possibility of concluding a contract.”

The AVELLUM team successfully proved that the parties had actually agreed the washout agreement verbally through the broker. Furthermore, arbitrators confirmed the general position of English law that any person who represents a company may enter into a contract, regardless of his or her position in the company and the existence of formal labour relations.

The AVELLUM team was led by partner Iryna Moroz with support of senior associate Dmytro Koval.

JLL expands logistics advisory business with Vincia acquisition

Real estate services firm JLL has expanded its supply chain and logistics advisory platform with the acquisition of Vincia in France.

JLL acquired the French supply chain consulting business for an undisclosed sum and said the deal supports JLL’s plans to expand its industrial and logistics business and strengthen its supply chain platform by investing in markets across Europe, the Middle East and Africa (EMEA).

The deal will expand JLL’s supply chain and logistics platform which currently provides services to landlords, occupiers and developers with more than 250 dedicated experts across 18 locations in EMEA.

Established 20 years ago, Vincia specialises in helping clients in the manufacturing and distribution services sectors to enhance their performance in the areas of service, cost and quality.

The acquisition of Vincia strengthens JLL’s capabilities in the sector which follows the acquisition of logistics and supply chain firm GCL Europe in 2014.

Charles Boudet, managing director, JLL France, said: “At a time of changing purchasing behaviour and the widespread introduction of omni-channel services, the logistics and supply chain market presents new opportunities for our clients.

“This acquisition strengthens our expertise in the sector and is key to enhancing our ambitions to grow our supply chain and logistics operations in France and beyond.”

Laurent Vallas, regional director and industrial and logistics assets sponsor, JLL France, said: “The acquisition of Vincia enables us to respond to the growing market demand for supply chain consulting services.

“It is an expansion of our capabilities in the sector which follows our acquisition of GCL Europe in 2014.”

Fabrice Mattei and Pascal Querro, co-founders of Vincia, said: “We have worked with JLL for a number of years on key projects.

“These shared experiences have always delivered great value to our clients and have proven that we share the same principles and culture of excellence.”

Extension of Consultation Period

The MFSA has notified industry participants and interested parties that the Consultation period for the Guidance on Cybersecurity, issued on the 8 February 2019, has been extended to Monday 25 March 2019.

If you would like to find out more information, please visit https://www.mfsa.com.mt/

Audax Private Equity announces recapitalisation of the Chartis Group

Audax Private Equity (“Audax”) today announced that it has recapitalised, in partnership with management, The Chartis Group, LLC (“Chartis” or the “Company”). Headquartered in Chicago, IL, and previously a portfolio company of RLH Equity Partners, Chartis is a leading provider of advisory consulting and software analytics to hospitals, health systems, and other healthcare organisations around the world. Founded in 2001, Chartis’ mission is to materially improve the delivery of healthcare by providing thought leadership, advisory, innovation, and analytics services to healthcare organisations. The Chartis management team will continue to lead the Company and, together with the Chartis consultants and employees, maintain a significant ownership position.

Ken Graboys, Chief Executive Officer of Chartis, said, “We are excited to partner with Audax and for the opportunity it provides us to continue to achieve meaningful growth and expand our impact on global healthcare. Audax brings the resources and capital to support the growth of our next generation of practice offerings, and to make strategic acquisitions.”

Young Lee, Managing Director at Audax, said, “Chartis has earned an outstanding reputation in the healthcare consulting industry demonstrated by the transformational results delivered to clients, extraordinarily talented people, and strong firm culture. We are excited to join the team as they continue to build on this success.”

Tim Mack, Managing Director at Audax, said, “We look forward to partnering with the Chartis team as they continue to provide innovation and improvements for healthcare systems, and pursue strategic add-on acquisitions and partnerships.”

Terms of the transaction were not disclosed. Lincoln International LLC acted as exclusive financial advisor and Winston & Strawn LLP served as legal counsel to Chartis. Ropes & Gray LLP served as counsel to Audax.

About the Chartis Group

The Chartis Group (“Chartis”) provides comprehensive advisory services and analytics to the healthcare industry. With expertise in strategic planning, performance excellence, informatics and technology, and health analytics, Chartis helps leading academic medical centers, integrated delivery networks, children’s hospitals and healthcare service organisations achieve transformative results. Chartis has offices in Atlanta, Boston, Chicago, New York, Minneapolis, Portland and San Francisco. For more information, visit https://www.chartis.com/

About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $24 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 125 platforms and 770 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimise operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website https://www.audaxgroup.com/