Wallace LLP

Joint Managing Partners: John Woodhouse and Martin Otvos

Number of partners: 19

Number of lawyers: 21

THE FIRM Individual in spirit, independent by choice.

Wallace is a law firm for London’s finest legal talent. Respected for over 90 years, Wallace is a partner-led practice, purposefully built around a suite of complementary commercial disciplines. Wallace offers a credible alternative to the larger City based firms and is routinely instructed on matters opposite such firms across each of its practice areas.

Whether clients are large corporates, entrepreneurs or investors, legal work is ultimately about people and the challenges they face. Every situation is different and demands a solution tailored to the individuals and commercial realities involved. Wallace encourages each of its lawyers to be themselves and do what they’re best at, working cooperatively as part of a close-knit team.

No client wants jargon-filled or obscure advice. Wallace aims to tell it as it is and provide clear no-nonsense counsel. Wallace’s lawyers don’t sit on the fence.

The team of seasoned professionals have decades of exposure to large and complex deals and heavyweight disputes. Wallace is one of the few conflict free firms willing and able to litigate against the banks and financial institutions that the larger firms count as key corporate and/or finance clients. The notable longevity of Wallace’s client relationships is testament to the continuing skill and tenacity of the teams.

Wallace offers clients an international service through its membership of the Law Firm Alliance (https://www.lawfirmalliance.org/) a network of 50 mid-sized law firms located across North, Central and South America, Europe, the Middle East and Asia.

MAIN AREAS OF PRACTICE:

■ Corporate/M&A

■ Employment

■ IP & Technology

■ Banking & Financial Services Litigation

■ Commercial Litigation

■ Property

■ Property: Leasehold Enfranchisement

■ Property Litigation

■ Restructuring & Insolvency

Corporate/M&A: The corporate team are dedicated to helping our clients grow their businesses, whatever stage they’re at. The team works with fast-paced growth businesses and well-established, mature companies, both listed and unlisted. They act for entrepreneurs, independent investors, funds and individuals. The corporate team works with companies making acquisitions or preparing for sale or raising public or private capital.

Notable Transactions:

- The Wallace corporate team has advised Webcertain’s founder, Andy Atkins-Krüger and his co-owner, Philip Hopkinson, on the sale of Webcertain to New York-based “super agency” TransPerfect.

- Successfully advised the shareholders of The Renewables Consulting Group on its recent sale to ERM.

- Advised the shareholders of Opal Wave on its recent sale to Sapphire Systems. The acquisition enables Opal Wave to accelerate its growth within the Sapphire Group while Sapphire will strengthen its EPM, business intelligence and cloud analytics capabilities.

Contact: John Woodhouse

Tel: +44 (0)20 7467 8775

Email: [email protected]

Employment: The employment team act for employers, senior executives, partnerships and partners across all aspects of employment law, from contracts and day to day HR issues to the impact of mergers and acquisitions, negotiated exits, dismissals and post-employment disputes.

Notable Cases:

- Advising a Fortune 200 company, an employer of approximately 1,600 people in the UK, on its contracts and policies, acquisitions and reorganisations, dismissals and disputes, including issues relating to confidential information and post-termination restrictions.

- Representing a senior executive in a whistleblowing claim that had been described by his previous solicitors as ‘hopeless’ and not worth issuing and settling that claim for a six-figure sum.

- Advising the CEOs of many of London’s leading advertising agencies on resigning, signing new contracts, taking equity and avoiding post-termination restrictions.

Contact: Daniel Isaac

Tel: +44 (0)20 7467 8739

Email: [email protected]

IP & Technology: The commercial, IP & technology team works with established companies, start-ups and individuals seeking to minimise their risks when buying and selling goods and services, maximising the value of their intellectual property assets, handling personal data and licensing or selling technology solutions.

Notable Cases:

- Providing ongoing advice to Secondmind on their supply of software and online services including machine learning processes.

- Advising Efficio on their procurement services including the access to, licensing and use of their proprietary online procurement platform, eFlow, through which they enable the collation and manipulation of data.

- Advising on GDPR issues arising from the transfer and storage of data and handling complaints from data subjects and investigations by the Information Commissioner.

Contact: Alexander Egerton

Tel: +44 (0)20 7467 8742

Email: [email protected]

Commercial Litigation: The commercial litigation team are routinely retained on high value domestic and multi-jurisdictional disputes opposite well regarded US, Magic Circle and other established City practices. They are experienced in taking cases through the High Court, Court of Appeal and to the Supreme Court, as well as co-counselling in respect of cross-border disputes in the US and other foreign jurisdictions. The team also represent clients before a range of arbitral bodies, including the ICC and LCIA, in connection with various international commercial arbitration disputes. They are praised by clients as being 'A firm that punches above its weight with a classy array of commercial litigators who are able to handle complex litigation and arbitration and who are not afraid of a fight against the giants of the industry.'

Notable Cases:

- Acting for foreign domiciled defendants to Commercial Court claims in the sum of US $1.85 billion brought by companies within a Brazilian mining and metals business.

- Acting for foreign incorporated entities in LCIA proceedings brought by a Middle Eastern company in a claim for in excess of US $75 million. The claim concerns allegations of fraud arising out of the operation of a tolling agreement in the metals and mining sector.

- Acting for an international businessman in defending High Court proceedings and ancillary injunctive relief sought in England and the Cayman Islands brought by a Marshall Islands company concerning the treatment of multi-million US Dollar investments in the tech start-up sector.

Contact: Oli Goldman

Tel: +44 (0)20 7467 8795

Email: [email protected]

Banking & Financial Services Litigation: The conflict free team act for clients in relation to complex multi-jurisdictional disputes involving banks and financial institutions, whether as claimant or defendant, including large group claims and disputes concerning structured investments and derivative products. Clients include hedge funds, corporates and high net worth individuals who note that “the team is very responsive, highly professional, punches well above its weight and provides practical, commercial advice from lawyers who are well-connected to the best barristers”.

Notable cases:

- Acting for a prominent claimant group of well-known high street names in multimillion pound High Court claims against Visa and MasterCard concerning the unlawful fixing of multi-lateral interchange fees on credit and debit card purchases.

- Acting for retail investors in the LF Woodford Equity Income Fund in pursuing a very substantial group claim against Hargreaves Lansdown and Link Fund Solutions following the fund’s high profile suspension in June 2019 and subsequent winding down.

- Acting for a proprietary trading firm based in the UAE in relation to claims that it conspired with the outgoing sellers of a multi-national brokerage to artificially inflate revenue so as to trigger a final earn-out payment in excess of US $40 million.

Contact: Alexander Weinberg

Tel: +44 (0)20 7467 8767

Email: [email protected]

Restructuring & Insolvency: The conflict free team is routinely instructed on complex, domestic and multi-jurisdictional restructuring and insolvency disputes. The team has long standing relationships with a number of insolvency practitioners, litigation funders and specialist counsel, is adept at acting for the full array of stakeholders, including shareholders and creditors, and has advised on numerous pre-packs, CVAs and other contentious insolvency processes. Clients single out “Wallace’s invaluable insight and support across its litigation, restructuring and corporate teams”.

Notable cases:

- Advising and acting for a number of well-known commercial landlords in respect of claims arising out of a slew of high-profile tenant administrations and proposed CVAs in the hospitality and entertainment sectors triggered by the Covid-19 pandemic.

- Advising a Court appointed officeholder of a development in Canary Wharf in relation to the controversial and highly contentious proposed restructuring of Virgin Active Health Clubs Limited.

- Advising two HNWIs in relation to the recovery of a substantial loan made to a prominent Indian businessman who is the subject of a substantial bankruptcy petition presented by the State Bank of India and 12 other creditors.

Contact: Alexander Weinberg

Tel: +44 (0)20 7467 8767

Email: [email protected]

Property: The property team provides a full range of commercial property services offering end-to-end support to a wide variety of corporate and individual clients. The team works closely with the firm’s complementary property litigation team where necessary and advises many of the firm’s corporate clients on commercial property matters.

Notable Transactions:

- Wallace acted for the owner of a multi let property in north London on its refinancing of the property for £85M.

- Wallace acted on the sale of two commercial buildings in Soho at a combined price of over £40m

Contact: Martin Otvos

Tel: +44 (0)20 7467 8753

Email: [email protected]

Property: Leasehold Enfranchisement: Wallace are one of the pre-eminent firms in the specialist and complex area of leasehold enfranchisement. The substantial property and property litigation departments overlap to form an all-encompassing leasehold enfranchisement team handling hundreds of cases each year.

Notable Cases:

- Acting for the FTSE 250 listed Freshwater Group of Companies, one of London’s most prominent landlords, in hundreds of enfranchisement cases per year

- Blomfield Court – the firm acted on behalf of the tenants of Blomfield Court in a claim under the Landlord and Tenant Act 1987 – as a result of the claim the tenant’s acquired for no consideration the freehold of Blomfield Court estimated to be worth at least £2m.

- Deritend Investments (Birkdale) Limited v Kornelia Treskonova [2020] UKUT 0164 (LC) The firm successfully obtained permission from the Upper Tribunal (Lands Chamber) to appeal determinations made at the Property Chamber on the matter of Deritend Investments (Birkdale) – 5 Mansard Manor Both concerning the premium to be paid for a new lease under the 1993 Act.

Contact: Samantha Bone

Tel: +44 (0)20 7467 8784

Email: [email protected]

Property Litigation: The Property Litigation team specialises in complex commercial landlord and tenant and property disputes. It provides commercially astute, practical legal advice on matters including forfeiture, dilapidations, all aspects of business tenancies including opposed lease renewals, break notices, the Electronic Communications Code, consents, rent reviews, injunctions, compulsory purchase, right to light, property related professional negligence and insolvency, all aspects of residential landlord and tenant including service charges, RTM and possession claims.

Notable cases:

- Represented a leading property company in opposing renewal of commercial leases on grounds of redevelopment and obtaining possession of an iconic Soho nightclub

- Urgently advised a landlord on its position in respect of the proposed CVA of its tenant of a high value central London property and on subsequent forfeiture of the Lease to avoid the client being caught by the CVA.

- Successfully advised on one of the UK’s largest Right To Manage claims

Contact: Meera Patel

Tel: +44 (0)20 7467 8748

Email: [email protected]