Ireland

The Dublin office continues with impressive growth as Stephen Carty joins as a Partner in the Investment Funds teams.  Stephen's primary areas of expertise are asset management and investment funds. He advises clients on the establishment and operation of investment funds.

Stephen joined Maples in 2010 from a large Irish corporate law firm, where he was partner and head of investment funds. He was also previously a partner in another leading Irish law firm, during which time he spent a period managing the firm's Tokyo office, with responsibility for Asia. Stephen has also worked for Sidley Austin, New York, and in Mallesons Stephen Jaques, Australia.

Maples have been the leading success story in the Irish market in recent years, significantly increasing their market share in the Investment Funds arena over the past two years. 

Maples are now ranked second amongst all Irish legal advisers, progressing from a previous ranking of seventh in 2008, in terms of funds advised on (both domiciled and non-domiciled).  This represents almost a 370% growth in market share over this period.

Within the last year alone Maples have more than doubled the number of domiciled funds on which the firm advises (a 111% increase).  The market share rankings, as at June 2010, are independently compiled and verified by Lipper, a global leader in fund information and analysis, and a subsidiary of Thomson Reuters.

... Investment Funds and Insolvency teams. Maples appoints senior partners - Liam Carney joins the Finance group following the recent appointments of Paul Dobbyn and Peter Stapleton who have joined the Insolvency and Investment Funds groups respectively.  

Liam was previously a partner and banking lawyer with one of Ireland's large domestic law firms.  With extensive experience in Ireland and internationally, Liam is recognised as a leading lawyer in general banking, asset and structured finance.

Nollaig Murphy, Head of the Finance Group at Maples in Dublin, said "We are delighted that Liam is joining our rapidly expanding team. Our practice is built on excellence and innovation and Liam is a leading practitioner in his specialised fields."

Commenting on Paul and Peter's appointments, Barry McGrath, Head of Investment Funds at Maples' Dublin office, said; "this is an exciting development for our Funds practice as we continue to grow our market share.  Paul has extensive experience and his expertise will be invaluable in the further development of our Irish office. Peter is acknowledged as one of the best lawyers in the financial services area. Our funds practice trebled in 2009 and Peter's expertise and capability will further enhance our ability to serve a growing client base."  

... fashion retailer A-Wear. Maples' Dublin office acted as counsel for Hilco during their restructuring and subsequent sale of the A-Wear Group, the nationwide fashion chain with over 40 stores and concessions and 450 staff in Ireland.

Nollaig Murphy, Head of Finance at Maples Dublin, said "It was highly rewarding to have been involved in such an innovative transaction from the original acquisition, through effecting significant restructuring changes, to the ultimate sale of the A-Wear Group." Maples drew on a broad range of expertise to support the multidisciplinary restructuring, requiring banking, corporate and insolvency specialists working across teams advising the lender and lender-appointed receiver.

Larry Howard, CEO Hilco Capital Ireland Limited., commented: "Maples Dublin have acted for us on this matter from acquisition to disposal, and were the ideal partners for innovative legal structuring needed by us to achieve our restructuring goals in Ireland."

Maples acted for Cerasus II, the acquisition vehicle of Spectrum Equity Investors, on the US129.4m (€93 million) take private of the NASDAQ listed Trintech Group. This transaction was one of only a small number of take privates in the Irish market in 2010.

Edward Miller, Partner and head of the Corporate Group at Maples' Dublin office, said, “We are pleased to serve as legal adviser to Cerasus a subsidiary of Spectrum which demonstrates our firm’s credentials within this sector.”

Maples advised aircraft leasing group Avolon on its initial capital raise of US$1.4 billion. The capital raised includes (i) an equity commitment of US$750 million from three of the world’s leading private equity firms, Cinven, CVC and Oak Hill Capital, in one of the most significant capital raises ever within the Irish market and (ii) a US$400 million warehouse facility, the first facility of its type completed since 2007. 

This transaction was one of the most significant equity capital raises ever in the Irish market. This deal was recently awarded 2011 'IFSC Deal of the Year' by Finance Dublin and the warehouse financing facility was awarded 2010 'European Deal of the Year' by the Airfinance Journal.