Hogan Lovells Wins Three Prizes at The Lawyer Awards 2012
28 June 2012
LONDON, 27 JUNE 2012 - Hogan Lovells scooped three prizes at The Lawyer Awards 2012, when it was crowned Banking & Finance Team of the Year, Competition/Regulatory Team of the Year and Pro Bono Team of the Year.
Hogan Lovells partner Stuart Brinkworth collected the prize for Banking & Finance Team of the Year after leading the team that advised on the financing for Duke Street's Acquisition of law firm Parabis. Hogan Lovells advised Ares Capital, Lloyds TSB, RBS and Santander on the financing of the deal – which has been hailed a 'first' in the legal sector. The Lawyer magazine confirmed that the outcome of this unprecedentedly complex deal would "shape the development of the legal sector in the post Legal Services Act (LSA) landscape".
The Competition/Regulatory Team of the Year prize was a result of Hogan Lovells' landmark victory, led by partner Suyong Kim and of Counsel Christopher Hutton, for clients Morrisons and Safeway. This saw them successfully overturn the OFT's Tobacco Decision, which had imposed record fines of £225 million for allegedly fixing the retail price of tobacco products. The firm won this category jointly with Ashurst, Burges Salmon, Norton Rose and Baker & Mckenzie, who also worked on the case for the other appellants.
The firm was also named Pro Bono Team of the Year in recognition for its work for the Libyan National Transitional Council (NTC), helping it secure the release of 1.86bn Dinar (approx. £950 million). A team advised the NTC on its negotiations with the UK government and De La Rue PLC on the release of the bank notes that had been printed in the UK and then frozen as a result of sanctions imposed by the United Nations.
The Lawyer Awards celebrates excellence in the profession across private practice, the public sector, commerce and industry, and the Bar.
Banking and Finance partner Stuart Brinkworth 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 I'm pleased that it has been recognised at The Lawyer Awards. The Duke Street acquisition was not only the first substantial private equity investment in a law firm since the LSA came into force, but it was also the first-ever leveraged buy-out of a law firm. Hogan Lovells' role as the bank's legal adviser was crucial in developing an innovative structure, negotiating the transaction and helping the banks through their credit processes."
Hogan Lovells' partner Antitrust, Competition and Economic Regulation (ACER) partner Suyong Kim, who led the team that advised on the tobacco price-fixing case, said:
"It's fantastic that our successful involvement in the largest competition appeal in the UK has been recognised. Although the case related to the tobacco market, it has far wider significance for the ability of manufacturers in all product categories to offer discounts to retailers in return for specified price reductions for consumers, without fear that they will be accused of engaging in serious anticompetitive conduct."
Banking and Finance partner Jeremy Brittenden said:
"I'm delighted after winning Pro Bono Team of the Year for our work with the NTC. There are few firms that could have taken on this project and have the experience of working in the region combined with an understanding of the regulatory issues involved on both sides of the Atlantic.
"This case also illustrates the value of good professional relationships within the legal profession and the importance of professional trust under extreme pressure and uncertainty. The UK government's decision to recognise the NTC and unfreeze assets for humanitarian purposes has acted as an important precedent for other countries to do the same."
About Hogan Lovells
Hogan Lovells" or the "firm" is an international legal practice that includes Hogan Lovells International LLP, Hogan Lovells US LLP and their affiliated businesses.
The word "partner" is used to describe a partner or member of Hogan Lovells International LLP, Hogan Lovells US LLP or any of their affiliated entities or any employee or consultant with equivalent standing. Certain individuals, who are designated as partners, but who are not members of Hogan Lovells International LLP, do not hold qualifications equivalent to members.
For more information about Hogan Lovells, the partners and their qualifications, see www.hoganlovells.com
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