INTERNATIONAL law firm Lovells has entered into a formal exclusive referral arrangement with a Paris based firm.
The agreement formalises a longstanding relationship between Lovells and boutique Paris firm Kuntz & Associés, founded by Jean-Emmanuel Kuntz, which will see Lovells business restructuring and insolvency (BRI) work bolstered by the Paris firm.
The arrangement comes as a result of rising demand for specialist BRI services in the Paris market, particularly in court proceedings, as a result of the global financial downturn.
Kuntz & Associés is amongst the best boutique firms in the Parisian market specialising in corporate restructuring, providing Lovells with their specialised skills while also providing the boutique firm with Lovells' international reach and French based full service practice.
Robin Spencer, a Lovells partner and global head of the BRI practice, said: "Most of the leading insolvency lawyers in Paris organise themselves into boutique firms which dominate the insolvency market.
"Kuntz & Associés is amongst the very best of these firms. We have worked extensively with Jean-Emmanuel and his team in the past on the court facing aspects of restructuring and insolvency in France. He is well known amongst receivers, administrators and other officeholders in the insolvency market."
He added: “We know from having worked together that Jean-Emmanuel is technically excellent, and we know from having pitched together that he shares our commitment to delivering practical, quality advice to clients and our ethos of working as a close part of the client's team."
The agreement is exclusive except in circumstances where an alternative solution is required in response to client demand, for instance if a conflict of interest exists. Profits will not be shared and the two firms will remain separate and independent of one another.
Business restructuring and insolvency has been one of Lovells' core fields of work for more than 50 years.
The practices continues to act on a number of high profile mandates including for the Government of Iceland in relation to the restructuring of its banking system and also on over 30 instructions relating to the collapse of Lehman Brothers.
Lovells does not have a Paris partner with a sole focus on restructuring but the sector is led in the Paris office by local banking head Richard Jadot.