October 10, 2011
Latham & Watkins won praise in the Financial Times 2011 European Innovative Lawyers report with the firm’s cartel investigations, arbitration and M&A practices recognized for innovative work.
Teams in the competition and arbitration practices earned recognition for precedent-setting work in the Dispute Resolution category, including:
- “Highly Commended” for the firm’s lead role advising Arcelor Mittal in the Prestressing Steel cartel investigation in which Latham obtained an unprecedented reversal of EU Commission policy. The Financial Times noted the team’s “multi-strand strategy” which “convinced the commission it had made a mistake in how it had increased cartel sanctions where other companies had failed.”
- “Commended” in an arbitration matter which the Financial Times said “[s]uccessfully argued that a challenge to an arbitration decision ‘did not disclose a case with a realistic prospect of success’, avoiding a long and expensive rehearing and setting a path for future cases.”
Latham’s transactional practice also garnered praise in the report’s Corporate Law categories, including:
- “Highly Commended” for the firm’s work advising New York-listed client MTS on its merger with London-listed Comstar and parallel voluntary tender offer, with the Financial Times recognizing the deal for “combining Russian law mechanisms for the first time, and synchronising Russian, UK and US aspects of the deal. Strict corporate governance structures created a positive precedent in the market.”
- “Commended” for the firm’s work on four separate acquisitions of Nortel's businesses under US, UK, French and Canadian insolvency regimes, with the Financial Times stating: “The firm lent the weight of its global brand and pushed the pace of the transaction to meet clients’ timeframes. Lawyers were described as business partners in making the complex acquisitions possible.”