Hogan Lovells Wins British Legal Awards Banking and Finance Team of the Year 2012
23 November 2012
LONDON, 23 November 2012 - Hogan Lovells last night won Banking, Finance or Restructuring Team of the Year at the British Legal Awards 2012, celebrated in London, for advising on the financing of Duke Street's acquisition of a majority stake in law firm Parabis.
Hogan Lovells advised Ares Capital, Lloyds TSB, RBS and Santander on the transaction – the first ever leveraged buy-out of a law firm in the UK and a 'first' in the legal sector.
This win follows Hogan Lovells success at The Lawyer Awards in June this year where the team also won Banking & Finance Team of the Year for the same deal, one of few instances where a team has won the category at both awards in the same year.
Hogan Lovells was also 'highly commended' in the Most Innovative Firms in Corporate Law category for this transaction by the FT Innovative Lawyers Awards 2012 in October this year.
Hogan Lovells banking and finance partner Stuart Brinkworth led the team that advised on the financing, supported by Of Counsel Jo Robinson and associate Paul Tannenbaum.
Commenting on the award, Stuart said:
"Perhaps only once in a generation does the opportunity arise to work on a deal that is truly a first in the legal sector and winning both the British Legal Awards and The Lawyer Awards this year is testament to this. The recognition received by the Hogan Lovells team who worked on this deal is a tribute to the commerciality, hard work and innovative approach that typifies the Hogan Lovells banking practice and we are extremely proud to have received these accolades in 2012."
David Hudd, Co-Leader of Hogan Lovells finance practice group, added:
"The Duke Street acquisition was not only the first substantial private equity investment in a law firm since the Legal Services Act came into force, but it was also the first-ever leveraged buy-out of an English law firm. Stuart and the Hogan Lovells team played a crucial role in developing an innovative structure, negotiating the transaction and helping the banks through their credit processes and I am delighted that their hard work has been recognised."