Memery Crystal was named Dispute Resolution Team of the Year at the 2014 Legal Business Awards for its litigation success on behalf of Gulf Keystone Petroleum.
The team successfully defended Gulf Keystone against a $1.65bn (£987m) claim brought by Excalibur Ventures for an interest in Gulf Keystone’s four oil fields in the Kurdistan region of Iraq.
A victory was achieved that dismissed all of Excalibur’s claims and recovered substantial costs. The 57-day trial from October 2012 to March 2013 was the longest in the Commercial Court’s judicial year.
Presented on 13 February 2014 at the Grosvenor House Hotel, the award was also given to Jones Day for its work on behalf of co-defendant Texas Keystone.