LAW FIRM DIRECTORY

Legal Market

Triple blow

The leadership in distribution in the legal market is firmly held by classical practices — judicial, corporate, and tax. They also form a triad of the most profitable market segments. The White Collar Crime practice also shot up the leaderboard in terms of generating income. Along with the continuing trend in industry specialization, the dispute resolution and corporate law practices have good prerequisites for growth thanks to legislative changes

OLEKSIY NASADYUK

Almost every law firm broken into the top 50 deals with dispute resolution: the prevalence rate of the practice is 96%. The actual figure may be even higher, because law firms stating, for example, about specialization exclusively in intellectual property, run a significant pool of court cases as well. The share of corporate law practice is 87%, slightly less than the previous year, but the shift in emphasis within this practice provides prerequisites for increasing demand, and hence the prevalence. The M&A practice can be an indicator of gradual improvement of the economic situation, as the practice showed a 10 percent increase in prevalence. Tax law, banking and financial law were also ranked among the five most common practices on the Ukrainian legal market. They were followed by intellectual property, land law and real estate, business protection and criminal law practices. The trend in sectoral specialization of law firms is continuing. The IT sphere, agrarian market, energy, and pharmaceuticals are among the most promising practices. In addition to highly-specialized boutiques, large multi-profile law firms are actively working in these practices.

Yevhen Kubko, senior partner at Salkom Law Firm, when discussing the trends of the year and their impact on practice, notes that almost the entire range of classical legal services can be profitable. According to his assessment, the overall situation on the legal service market, in comparison with the previous year, has not changed significantly, but there were trends towards the emergence of new market participants and their relatively rapid development. "In the future, the practice associated with the emergence of new market tools in the economy (financial sphere, reorientation of foreign economic activities towards European markets, development of IT technologies, etc.) might develop, in addition, judicial activities and criminal defense can be significantly stepped up, based on the possible political, economic, and international orientation of the state (including the country’s law-enforcement) bodies," Mr. Kubko predicts.

"In 2018, the activity of transaction practices rose slightly but, as in previous years, the dispute resolution practice continues to show the highest dynamics in generating work," Oleskiy Didkovsky, co-managing partner at Asters, said. He adds that, given the incompleteness of judicial reform in Ukraine, large business prefers to sue in foreign jurisdictions, stimulating the development of cross-border dispute resolution practice and international arbitration. There are also preconditions for the growth in popularity in Ukraine of services for alternative non-judicial settlement of disputes. White Collar Crime, another practice, has beaten records for income generation for several years. In addition, according to Mr. Didkovsky, "younger" practices and directions, such as wealth management, renewable energy, state aid in antitrust law, blockchain in IT, are actively developing. "These and other niches, until recently unusual for Ukraine, are already in demand, and practicing lawyers will certainly be in demand in the future. Clients need integrated solutions to protect their business. Responding to this request, for example, in 2018, we were the first in Ukraine to launch the CyberDesk integrated center, which brought together leading IT specialists in cybersecurity and key lawyers of our company. In my opinion, the future of consulting services belongs precisely to such products, combining the competence of experts in related fields and allowing comprehensive solution of business problems of the clients," co-managing partner of Asters commented.

According to Mykola Stetsenko, co-managing partner at AVELLUM Law Firm, the situation has not changed dramatically compared to the previous year. "The work is generated by large practices, namely: judicial, arbitration, financial, corporate, antitrust and tax. Unless this year saw great demand for expertise in real estate and alternative energy, as investments in these spheres  intensified. In other practices, the demand remains stable and is even growing," Mr. Stetsenko said.

Olha Prosyanyuk, managing partner at AVER LEX Attorneys at Law, draws attention to the fact that dispute resolution, tax and criminal practices, which became leaders a few years ago, are still popular. At the same time, criminal practice will have new rounds of development associated with political and organizational changes in the state. "This year we have seen active dialog between the state authorities and business, resulting in the adoption of several laws aimed at protecting business. And if law-enforcement and other bodies adhered to the new rules at the initial stage of the effect of such laws rather than trying to lower the vigilance of business representatives and their legal advisors, then eventually everything returns to the way it was, with attorneys not being allowed to see their client and other violations. The trend of conflicts between law-enforcement agencies will also contribute to the development of criminal practice, especially if we consider that they will increase from next year. International criminal practice will also intensify; attorneys will work more intensively with Interpol, send requests to law- enforcement agencies of other countries and enlist more international human rights organizations and colleagues from other jurisdictions," Olha Prosyanyuk said.

Alexey Kot, managing partner at Antika Law Firm, speaking about prospective niches of legal practice, refers to IT: "Taking into account the level of business digitization and the pace of its development, legal consulting in IT and FinTech can be called one of the most promising directions both in 2019 and in the next few years." Another popular practice, according to his estimates, will be agrarian business. Mr. Kot sees great prospects in energy and energy efficiency.

At the same time, Alexey considers corporate law as one of the most promising directions of legal business, as there are well-founded prerequisites for this: development and improvement of corporate legislation, in particular, in the regulation of joint-stock companies. A fundamental basis for increasing the demand for legal consulting services in the area of corporate governance is the introduction of such procedures as squeeze-out and sale-out into economic circulation.

 

Reputational Ranking of the Law Firms by Practice Areas

Reputational Ranking of the Law Firms by Practice Areas

RANK

LAW FIRM

MARK

RANK

LAW FIRM

MARK

CORPORATE

M&A

1

ASTERS

147

1

AVELLUM

162

2

SAYENKO KHARENKO

126

2

BAKER MCKENZIE

150

3

AEQUO

122

3

SAYENKO KHARENKO

150

4

AVELLUM

109

4

ASTERS

149

5

BAKER MCKENZIE

105

5

AEQUO

114

6

GOLAW

74

6

CMS CAMERON MCKENNA NABARRO OLSWANG

69

7

VASIL KISIL & PARTNERS

51

7

PAVLENKO LEGAL GROUP

44

8

CMS CAMERON MCKENNA NABARRO OLSWANG

46

8

GOLAW

43

9

EVERLEGAL

42

9

ARZINGER

41

10

DLA PIPER UKRAINE

35

10

DLA PIPER UKRAINE

27

BANKING & FINANCE

COMPETITION

1

SAYENKO KHARENKO

221

1

ASTERS

236

2

ASTERS

187

2

SAYENKO KHARENKO

174

3

BAKER MCKENZIE

139

3

AEQUO

128

4

AVELLUM

135

4

BAKER MCKENZIE

59

5

AEQUO

69

5

ARZINGER

56

6

GOLAW

47

6

CLACIS

48

7

DENTONS

45

7

ANTIKA

49

8

EVRIS

44

8

DLA PIPER UKRAINE

29

9

LCF LAW GROUP

44

9

CMS CAMERON MCKENNA NABARRO OLSWANG

18

10

EQUITY

43

10

ILLIASHEV & PARTNERS

18

TAX

INTELLECTUAL PROPERTY

1

KM PARNTERS

164

1

DOUBINSKY & OSHAROVA

223

2

EUCON LAW GROUP

124

2

PAKHARENKO & PARTNERS

159

3

KPGM LAW

116

3

AEQUO

113

4

SOKOLOVSKIY & PARTNERS

109

4

ASTERS

91

5

GOLAW

108

5

BAKER MCKENZIE

80

6

EVRIS

49

6

IP STYLE

41

7

PWC LEGAL

47

7

BERYLSTONE

40

8

ASTERS

45

8

KONNOV & SOZANOVSKY

44

9

BAKER MCKENZIE

39

9

VASIL KISIL & PARTNERS

33

10

EY

33

10

EVRIS

31

LABOR

REAL ESTATE

1

VASIL KISIL & PARTNERS

193

1

BAKER MCKENZIE

124

2

ILF

79

2

DLA PIPER UKRAINE

92

3

BAKER MCKENZIE

74

3

ARZINGER

79

4

ASTERS

70

4

ASTERS

76

5

SAYENKO KHARENKO

57

5

ADER HABER

74

6

GOLAW

55

6

VASIL KISIL & PARTNERS

61

7

ETERNA LAW

51

7

TOTUM

51

8

EVERLEGAL

50

8

SPENSER & KAUFFMANN

44

9

EUCON LAW GROUP

46

9

AEQUO

37

10

DENTONS

40

10

GRAMATSKY & PARTNERS

29

AVIATION

MARITIME & SHIPPING

1

ECOVIC BONDAR & BONDAR

143

1

АНК

204

2

ASTERS

110

2

INTERLEGAL

189

3

ILLIASHEV & PARTNERS

109

3

ETERNA LAW

59

4

ANTE LAW FIRM

74

4

ILLIASHEV & PARTNERS

55

5

VASIL KISIL & PARTNERS

60

5

JURLINE

53

AGRIBUSINESS

LAND

1

ALEХANDROV & PARTNERS

180

1

ALEХANDROV & PARTNERS

109

2

OMP

126

2

BAKER MСKENZIE

86

3

ASTERS

74

3

VASIL KISIL & PARTNERS

84

4

AVELLUM

67

4

ABER HABER

75

5

ETERNA LAW

66

5

ASTERS

54

Reputational Ranking of the Law Firms by Practice Areas

RANK

LAW FIRM

MARK

RANK

LAW FIRM

MARK

LITIGATION

INTERNATIONAL ARBITRATION

1

LCF LAW GROUP

141

1

SAYENKO KHARENKO

152

2

EQUITY

140

2

ENGARDE

130

3

VASIL KISIL & PARTNERS

127

3

ETERNA LAW

120

4

ILLIASHEV & PARTNERS

95

4

ASTERS

86

5

ASTERS

89

5

INTEGRITES

83

6

GOLAW

78

6

AVELLUM

66

7

SAYENKO KHARENKO

63

7

AEQUO

50

8

PAVLENKO LEGAL GROUP

46

8

LCF LAW GROUP

42

9

ADER HABER

45

9

ILLIASHEV & PARTNERS

41

10

EVRIS

45

10

ARZINGER

37

CRIMINAL LAW

BUSINESS PROTECTION

1

AVER LEX

270

1

AVER LEX

150

2

EQUITY

145

2

EQUITY

128

3

VB PARTNERS

143

3

SAYENKO KHARENKO

90

4

GOLAW

111

4

GOLAW

75

5

SOLODKO & PARTNERS

103

5

JUSCUTUM

61

6

BARRISTERS

45

6

ASTERS

40

7

VASIL KISIL & PARTNERS

34

7

ADER HABER

37

8

JUSCUTUM

22

8

VB PARTNERS

34

9

SOKOLOVSKIY & PARTNERS

22

9

PAVLENKO LEGAL GROUP

31

10

ASTERS

21

10

LCF LAW GROUP

30

BANKRUPTCY

DEBT RESTRUCTURING

1

EQUITY

143

1

SAYENKO KHARENKO

122

2

ALEKSEEV BOYARCHUKOV & PARTNERS

130

2

AVELLUM

103

3

LCF LAW GROUP

106

3

BAKER MCKENZIE

91

4

ILLIASHEV & PARTNERS

98

4

ASTERS

88

5

ARIO

85

5

ARZINGER

66

6

GOLAW

60

6

ADER HABER

63

7

L.I.GROUP

50

7

EVRIS

54

8

SAYENKO KHARENKO

47

8

AEQUO

51

9

ASTERS

40

9

REDCLIFFE PARTNERS

44

10

EVRIS

38

10

ALEKSEEV BOYARCHUKOV & PARTNERS

42

ENERGY

COMPLIANCE

1

CMS CAMERON MCKENNA NABARRO OLSWANG

164

1

BAKER MCKENZIE

134

2

ASTERS

156

2

REDCLIFFE PARTNERS

63

3

GOLAW

103

3

SAYENKO KHARENKO

59

4

BAKER MCKENZIE

91

4

GOLAW

51

5

DENTONS

87

5

EUCON

50

6

EVERLEGAL

65

6

ASTERS

49

7

ANTIKA

49

7

PWC LEGAL

46

8

SAYENKO KHARENKO

37

8

VASIL KISIL & PARTNERS

46

9

REDCLIFFE PARTNERS

31

9

CMS CAMERON MCKENNA NABARRO OLSWANG

42

10

AEQUO

26

10

KPMG LAW

40

INTERNATIONAL TRADE

PPP

1

SAYENKO KHARENKO

189

1

PAVLENKO LEGAL GROUP

135

2

ASTERS

72

2

SAYENKO KHARENKO

90

3

BAKER MCKENZIE

48

3

ASTERS

64

4

ILLIASHEV & PARTNERS

44

4

VASIL KISIL & PARTNERS

61

5

AVELLUM

42

5

BAKER MCKENZIE

54

MEDICINE & PHARMACRUTICALS

IT

1

ARZINGER

153

1

JUSCUTUM

191

2

LEGAL ALLIANCE

147

2

AXON PARTNERS

190

3

ILF

89

3

SAYENKO KHARENKO

106

4

BAKER MCKENZIE

65

4

AEQUO

72

5

DANEVYCH LAW

58

5

ASTERS

51