Hogan Lovells Wins Prestigious FT Innovative Lawyers Award
09 October 2014
Hogan Lovells has been awarded the accolade of 'Most innovative firm in corporate and commercial law' at the Financial Times Innovative Lawyers Awards for Europe 2014, announced at a gala dinner in London last night.
Led by London partner Katie Banks, Hogan Lovells' global team comprising over 300 lawyers from more than twenty offices worldwide was recognised for its innovation in advising the Trustees of the Kodak Pension Plan (KPP) in a "state of the art" transaction involving a combination of:
- BRI - a comprehensive settlement of US Chapter 11 bankruptcy claims against Eastman Kodak Company (EKC) and Kodak Limited, its UK subsidiary;
- Pensions - an innovative pensions restructuring, agreed by KPP members representing 96% of KPP's liabilities, to give members of the KPP the option to opt out of the UK Pension Protection Fund (PPF) and into a plan with better benefits than the PPF;
- M&A - the acquisition by the Trustees of the KPP of two major multi-jurisdictional businesses from the EKC group, requiring input from corporate, commercial, competition, real estate, tax, IP, finance and employment teams.
This award marks the culmination of a number of accolades the team has received for its work on this complex and high profile matter, including:
- Winner of the 2014 European Pensions Award for Innovation;
- Winner of Employment, Pensions and Benefits Team of the year at the Legal Business Awards 2014;
- Winner of 'Turnaround of the Year: Mega Company' at the 2014 Turnaround and Transaction of the Year Awards
- Winner of the 2014 ITR Award for European M&A Tax Deal of the Year;
- Winner of the 2014 Engaged Investor Trustee award for 'Best Pensions Lawyer';
- Third place for Restructuring Team of the Year at The Lawyer Awards 2014;
- Shortlisted for Employment Team of the Year at The Lawyer Awards 2014;
- Shortlisted for Restructuring Team of the Year 2014 by Financial News;
- Shortlisted for Restructuring Team of the Year at the Legal Week British Legal Awards 2013.
Commenting on the achievement, Katie Banks, who collected the award, said:
"This is a fantastic achievement and I am very proud of our work for the KPP Trustees and the positive impact it had for KPP members. The cross-border, cross-practice Hogan Lovells team that made it happen thoroughly deserves this accolade".
Ben Higson, London Head of Corporate, added:
"Innovation can be key to advising on complex cross-border matters and our ability to be innovative is one of the reasons our clients entrust these matters to us. In addition, our exceptional trans-Atlantic strength and regulatory capabilities were integral to this matter. It was a privilege to work with the KPP Trustees and I'm delighted that the team's hard work and innovation have deservedly been recognised".