Allen & Overy LLP

Tax Department

Spain
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What the team is known for Increased recognition of its standalone tax structuring capabilities and the strong reputations of its key partners help the team rise up the rankings. Receives particular praise for its advice to leading Spanish and international banks on the tax structuring of acquisition or project finance agreements. Closely co-ordinates with the firm's finance, corporate and capital markets departments to advise on structured finance, equity derivatives and M&A transactions.

Strengths Clients describe their experience working with the firm as "extremely satisfying in terms of quality, efficiency and the provision of a client-oriented outcome."

"They are practical in their advice and extremely responsive," states another client.

Work highlights Advised the senior lenders and swap counterparties to Marme Inversiones on the tax aspects of the loan facility used to acquire the Ciudad Financiera of Boadilla del Monte from Santander.

Notable practitioners

Adolfo Zunzunegui advises domestic and international banking sector clients on tax issues arising from cross-border finance transactions. One client highlights Zunzunegui's "responsiveness, technical excellence and detailed market knowledge."

Ishtar Sancho is frequently involved in the tax planning of lending or NPL transactions. Clients praise her for being "practical and solution-oriented," with one adding: "She provides excellent advice on the spot."