Cleary Gottlieb has been named “Law Firm of the Year” at the Legal Business Awards 2013, presented in London on February 7. The firm is the first of non-UK origin to be given this honor in the history of the awards. The citation reads:
“Cleary enjoyed another year at the forefront of international financial and corporate activity, notably representing Greece in its overwhelmingly complex and critical debt restructuring plan, Rosneft on its $55 billion acquisition of TNK-BP, and the Republic of Iraq in successfully defending its sovereign immunity in the UK Supreme Court. Strategically, the firm did something that it has only done once before – open two non-U.S. offices in the same year, in Seoul and Abu Dhabi.”
Cleary Gottlieb was also named “Restructuring Team of the Year,” with the citation reading:
“Cleary stood up and was counted as lead counsel to Greece on the world’s largest sovereign bond restructuring. Following a collective action clause that required the approval of 66% of bondholders, the country’s creditors ultimately agreed to a €100 billion debt ‘haircut.’”