Allen & Overy has been named the “Hungarian Law Firm of the Year” by the International Financial Law Review (IFLR), the leading UK-based financial law periodical. Allen & Overy won the award for its involvement in the restructuring and subsequent acquisition of Hungarian chemicals company BorsodChem by the Chinese Wanhua Industrial Group (Wanhua).
The transaction, which was valued at €1.2 billion, involved Hungarian, English and Hong Kong corporate, banking and restructuring advice provided by Allen & Overy. This is the second time that the Budapest office of Allen & Overy has received the international award.
Allen & Overy is an international legal practice with approximately 5,000 staff, including some 470 partners, working in 36 major centres worldwide. The Budapest office of Allen & Overy was opened in 1993, and has 25 lawyers, including 2 partners. Revenues for 2010 at the Budapest office of Allen & Overy increased by 33% compared to the previous year’s more than HUF 1 billion.
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