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BTI Consulting Group Recognises Eversheds Sutherland

Eversheds law firm is pleased to announce that it has been named to the elite 2021 BTI Client Service 30, a list of law firms recognised for delivering superior client service.

Eversheds is a global multinational law practice created by a combination of law firms Eversheds LLP and Sutherland Asbill & Brennan LLP, in February 2017, and is one of the 50 largest law practices in the world.

The rankings are based on unprompted client feedback from general counsel at some of the world’s largest organisations.

The BTI Client Service 30 is a subset of the organisation’s larger client survey, The BTI Client Service A-Team 2021: The Survey of Law Firm Client Service Performance, which evaluates individual law firm performance through thousands of client interviews conducted over the span of 20 years.

This year’s analysis is a result of 350 independent, candid, one-on-one interviews with corporate counsel; firms cannot lobby or self-nominate to be added to the list.

Of the 282 law firms recognised in The BTI Client Service A-Team 2021, Eversheds Sutherland ranked among the top 30.

Additionally, Eversheds Sutherland was recognised as a “Leader” in unprompted communication, anticipating client needs, commitment to help, client focus, understanding business, value for the dollar and quality products.

The firm also achieved recognition in all three of BTI’s newest categories in the 2021 report: mobilising resources, fielding the absolute best team and quickly assessing the client’s situation.

BTI Consulting Group Overview

The Boston-based consulting group is the leading provider of strategic market research to law firms and professional services firms.

BTI conducts the only continuous benchmarking market study in the legal services industry based on independent interviews with general counsel and key decision makers who hire law firms.

Eversheds Successfully Defends Representative in SEC Appeal

The SEC is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. 

Eversheds Sutherland is pleased to announce that the firm successfully defended registered representative David Tysk in an appeal to the United States Securities and Exchange Commission of a disciplinary proceeding brought by Financial Industry Regulatory Authority.

In 2013, the firm was hired to defend Mr. Tysk against FINRA’s charges that he acted unethically and violated arbitration procedures. Before this successful appeal, FINRA had ordered him to pay a $50,000 fine and suspended him from the securities industry for one-year, essentially ending his career in the securities industry.

After several years of appeals, including two appeals to the SEC, the SEC found in favour of Mr. Tysk, overturning FINRA’s findings.

Eversheds Sutherland Partner Brian Rubin led the team with support from Litigation Partner Lee Peifer.

Eversheds Sutherland Overview

As a global top 10 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 70 of the Fortune 100, 61 of the FTSE 100 and 128 of the Fortune 200.

With more than 3000 lawyers, Eversheds Sutherland operates in 68 offices in 32 jurisdictions across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalised alliances in Latin America, Asia Pacific and Africa, provide support around the globe.

Eversheds Sutherland provides the full range of legal services, including corporate and mergers and acquisitions; dispute resolution and litigation; energy and infrastructure; finance; human capital and labour law; intellectual property; real estate and construction; and tax.

Eversheds Sutherland is a global legal practice and comprises two separate legal entities: Eversheds Sutherland LLP and Eversheds Sutherland LLP, and their respective controlled, managed, affiliated and member firms.

Eversheds Sutherland Advises NorTex Midstream Partners

NorTex is an independently owned Houston based midstream solutions provider. We currently own and operate high-deliverability, multi-cycle natural gas storage facilities in strategically-located areas. NorTex’s facilities rank as the second largest portfolio of natural gas storage assets in North Texas.

Eversheds is pleased to announce that it is representing client Castleton Commodities International LLC in its sale of NorTex Midstream Partners, a Houston-based natural gas storage and transportation company, to private equity firm Tailwater Capital.

Founded in 2007, NorTex provides revenue optimisation and asset reliability solutions for utilities and power generation facilities in North Texas through strategically located natural gas storage and transmission.

The Company operates the largest portfolio of non-utility gas storage facilities in North Texas. NorTex’s asset base includes 36 Bcf of depleted reservoir working gas capacity, 83 total miles of natural gas transportation pipelines, as well as the Tolar Hub – the largest natural gas hub in North Texas.

NorTex’s storage facilities have operated consistently for nearly 60 years, serving as critical infrastructure for the greater Dallas-Fort Worth market.

CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation and development of commodities-related infrastructure and upstream assets.

Eversheds Sutherland Overview

As a global top 10 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 75 of the Fortune 100, 68 of the FTSE 100 and 113 of the Fortune 200.

With more than 3000 lawyers, Eversheds Sutherland operates in 68 offices in 32 jurisdictions across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalised alliances in Latin America, Asia Pacific and Africa, provide support around the globe.

Eversheds Sutherland provides the full range of legal services, including corporate and mergers and acquisitions; dispute resolution and litigation; energy and infrastructure; finance; human capital and labour law; intellectual property; real estate and construction; and tax.

Chief Financial Officers Anticipate Growth & Lasting Change

Finance leaders expect a return to growth in 2021 with optimism rising to a record high, according to Deloitte’s latest chief financial officer survey. Despite the surge in business optimism, half of CFOs do not expect demand for their own businesses to recover to pre-pandemic levels until the last quarter of 2021 or later.

The Deloitte CFO survey for Q4 2020, which gauges sentiment amongst the United Kingdom’s largest businesses, took place between 2nd December and 14th December 2020, so before new COVID restrictions announced on 19th December and the Brexit deal on 24th December.

A total of 90 CFOs participated in the latest survey, including CFOs of 12 FTSE 100 and 44 FTSE 250 companies.

The combined market value of the United Kingdom-listed companies that participated is £308 billion, approximately 13% of the United Kingdom quoted equity market.

Revenues, risk appetite & economic landscape

There has been a sharp improvement in CFO expectations for United Kingdom corporates’ revenues this quarter with 71% expecting a rise over the next 12 months, up from 29% in Q3 2020, while over half of CFOs expect operating costs to rise. For the first time since 2015, a net balance of CFOs are expecting corporate operating margins to increase in the next year.

Risk appetite remains weak with only 19% believing it is a good time to take greater risk onto the balance sheet, however this is up from just 3% in Q1 2020.

Consistent with the idea of a return to growth CFOs’ expectations for inflation have risen markedly since Q3 2020. Over half of CFOs expect consumer price inflation to be at or above 1.6% in two years’ time, up from 36% three months ago.

While still showing a net negative balance, CFOs’ expectations for hiring, capital spending and discretionary spending have increased from the record lows seen in Q1 2020, with a strong uptick in each category in the last quarter. Expectations for hiring and spending are running higher than the levels seen between 2016 and mid-2019.

COVID & beyond

More than three quarters of finance leaders expect COVID-19 restrictions on movement and activity to continue through the first half of 2021, while 57% expect these measures to be removed permanently in Q3 2021.

CFOs believe that the pandemic is set to trigger a fundamental change in the business environment. An overwhelming net balance of CFOs expect flexible and home working to increase – with a five-fold increase in home working expected by 2025.

Similarly, 98% of CFOs expect levels of corporate and individual taxation to rise, two thirds anticipate higher regulation of the corporate sector and 59% see the size and role of government in the economy increasing.

The impact of Brexit

CFOs think a no-deal Brexit would have been a far greater risk to the economy and to business than the actual outcome of a trade deal. Moreover, they saw either Brexit outcome as having a greater negative impact on the economy than on their own businesses.

The large companies on our panel are more confident about their own ability to deal with Brexit than the wider economy’s.

Two thirds of CFOs saw a no-deal outcome as having a severe or significant negative effect on the economy and 18% expected a similarly negative impact on their own business. Just 20% of CFOs saw a trade deal as a major negative for the economy and this dropped to 7% in relation to their own business.

A majority of CFOs expect the post-Brexit points-based immigration system to act as somewhat of a drag on long-term economic growth. Around a quarter expect little or no effect, while 6% expect the new immigration system to support growth.

A net balance of 66% of CFOs expect both goods and services trade with the EU to decrease, while 77% expect a decrease in high-skilled immigration from the EU, with only 24% expecting an increase in skilled immigration from outside the EU.

Strategy & spending

CFOs remain in defensive mode with 49% and 46% respectively rating increasing cash flow and reducing costs as strong priorities. Meanwhile expansionary strategies have risen in popularity slightly since Q3, for example, around a quarter cite introducing new products, services or expanding into new markets as a priority for the year ahead.

Eversheds Sutherland attorneys named among best in United States

Eversheds Sutherland is pleased to announce that 19 practice areas and 99 attorneys have been recognised in the 2020 edition of The Legal 500 United States, a comprehensive survey of legal service providers. For more than 25 years, the series has provided feedback on law firms from more than 100 countries.

Also this year, The Legal 500 named 11 attorneys to its elite “Leading Lawyers” list. Lee C. Davis and Jennifer Wheatley Fletcher were recognised in the Construction category; Adam B. Cohen and Vanessa A. Scott were recognised in the Employee Benefits, Executive Compensation and Retirement Plans category; James R. Dwyer and Cynthia R. Shoss were recognised in the Insurance: Non-contentious category; Jeffrey A. Friedman and Jerome B. Libin were recognised in Tax – US Taxes: Contentious; Robert D. Owen was recognised in the Dispute Resolution – E-discovery category; Wade H. Stribling was recognised in M&A/Corporate and Commercial – M&A: Middle-market (sub-$500m); and Peter C. Quittmeyer was recognised in the Technology: Outsourcing category.

Eversheds Sutherland received national rankings in:

  • Dispute Resolution – E-discovery
  • Dispute Resolution – General Commercial Disputes
  • Finance – Financial Services: Regulation
  • Finance – Structured Finance: Derivatives and Structured Products
  • Industry Focus – Energy Regulation: Conventional Power
  • Industry Focus – Energy Regulation: Oil & Gas
  • Industry Focus – Energy: Renewable/Alternative Power
  • Industry Focus – Energy Transactions: Conventional Power
  • Industry Focus – Insurance: Non-contentious
  • Intellectual Property – Patent: Patent Prosecution (including re-examination and post-grant proceedings)
  • Labour and Employment – Employee Benefits, Executive Compensation and Retirement Plans
  • M&A/Corporate and Commercial – M&A: Middle-market (sub-$500m)
  • Media, Technology and Telecoms – Fintech
  • Media, Technology and Telecoms – Technology: Outsourcing
  • Real Estate and Construction – Construction (including construction litigation)
  • Real Estate and Construction – Real Estate
  • Tax – International Tax
  • Tax – US Taxes: Contentious
  • Tax – US Taxes: Non-contentious

About Eversheds Sutherland

As a global top 10 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 75 of the Fortune 100, 68 of the FTSE 100 and 113 of the Fortune 200.

With more than 3,000 lawyers, Eversheds Sutherland operates in 70 offices in 34 jurisdictions across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalised alliances in Latin America, Asia Pacific and Africa, provide support around the globe.

Eversheds Sutherland provides the full range of legal services, including corporate and M&A; dispute resolution and litigation; energy and infrastructure; finance; human capital and labour law; intellectual property; real estate and construction; and tax.

Eversheds Sutherland comprises two separate legal entities: Eversheds Sutherland (International) LLP (headquartered in the UK) and Eversheds Sutherland (US) LLP (headquartered in the US), and their respective controlled, managed, affiliated and member firms. The use of the name Eversheds Sutherland is for description purposes only and does not imply that the member firms or their controlled, managed or affiliated entities are in a partnership or are part of a global LLP.

£14.7 billion raised in secondary offerings since the start of the year

Overall secondary offerings have reached £14.7 billion across 135 transactions in the UK for the year to date, according to new analysis from Deloitte. A secondary offering refers to the sale of shares in a listed company occurring after a company’s IPO, with the transaction taking place through either London’s Main Market or AIM.

Prior to the lockdown in the UK, the amount of money raised in January and February 2020 was almost twice that of the same period in 2019 (£3.4 billion vs £1.9 billion), signalling increased business optimism. Despite a drop in March, April and May both saw elevated levels of equity fundraising in London.

Chris Nicholls, Head of Equity and PLC Advisory at Deloitte, said: “The UK market has very much been open for existing listed companies seeking additional equity capital, including those from the retail and hospitality sectors. Typically this has been to strengthen balance sheets and improve liquidity in the wake of the pandemic. I would expect fundraising activity to continue into the rest of the year, albeit with only a modest trickle of IPOs.”

Since 23 March this year, the FTSE 100 and S&P 500 have risen 29.8% and 42.8% respectively, boosted by the gradual reopening of world economies and bold government and central bank stimulus measures. However, volatility levels remain elevated compared to long-term averages with the global VIX Index currently in the region of 24, substantially higher than the 2019 average of approximately 15.

Chris Nicholls concludes: “Whilst volatility has substantially reduced from March levels, any VIX reading above 20 traditionally represents a difficult environment in which to launch IPOs. However, global equity markets are recovering strongly from the unprecedented shock to the economy caused by COVID-19.”