Financial Times Awards Hogan Lovells Top Plaudits for Innovation
07 October 2015
London - 7 October 2015 - Hogan Lovells has earned a brace of plaudits from the Financial Times, being named Most Innovative Law Firm in Dispute Resolution at the paper's Innovative Lawyers Awards 2015, while also jumping to 4th place in their annual list of Law Firm Innovators.
The award recognised the firm's success in the outcome of a five-year global court battle, following the collapse of telecoms provider Nortel. Hogan Lovells successfully convinced the courts – which sat in Canada and the U.S. simultaneously, and were linked by an unprecedented private live internet stream – to accept the legal principle that pooled funds from the liquidation of Nortel’s global businesses should be allocated among debtor companies pro rata to their creditor claims.
The level of cooperation between the judicial authorities was described as "unprecedented", and a billion-dollar victory was achieved for 33,000 UK pensioners.
Commenting on the award, head of pensions litigation Angela Dimsdale Gill, who led the Hogan Lovells team, said:
"Naturally we are delighted that the immense hard work, dedication and skill of everyone who worked on this landmark case has been recognised with such a prestigious award.
"This case was not only a huge success in terms of making new law and the sheer magnitude of the win – it also improved the lives of some 33,000 people."
Counsel Matthew Bullen collected the award at a ceremony at London's Natural History Museum on 1 October. The annual Financial Times Innovative Lawyers report is now in its tenth edition, and examines how lawyers are innovating for their clients and in their own businesses and corporate functions. Over 150 European law firms, legal service providers and in-house corporate functions submit entries to the awards every year.
Hogan Lovells' London litigation partner John Tillman was quoted in a Financial Times feature on the intricacies of cross-border litigation, explaining both how the Nortel case was unusual and the innovative approach the firm took:
"There is a strong tradition of different courts cooperating on certain aspects of large, cross-border insolvency cases, but this took it to the next level."
At the end of the evening, copies of the Financial Times 2015 edition of its Innovative Lawyers report were presented to guests. In this, Hogan Lovells was ranked in 4th position in the paper's 2015 list of Law Firm Innovators [2014: 33rd].
The firm was recognised as 'standout' in the Client Service category, and was commended in a further five categories: Intellectual Property, Finance, Growth and Business Development, Social Responsibility, and Strategic Resourcing.
Read more about the Financial Times Innovative Lawyers Awards online, here.