Memery Crystal has been named Litigation Team of the Year at The Lawyer Awards 2014 for its litigation success on behalf of Gulf Keystone Petroleum. The awards were presented on 25 June at a ceremony at the Grosvenor House Hotel in London.
The team has already been named Dispute Resolution Team of the Year at the Legal Business Awards 2014, which were presented on 13 February. This marks the first time a firm has won both awards in the same year.
The team successfully defended Gulf against a $1.65bn (£968m) claim brought by Excalibur Ventures for an interest in Gulf’s four oil fields in the Kurdistan region of Iraq. The strategy set by Memery Crystal and tactics developed and executed achieved an overwhelming victory dismissing all of Excalibur’s claims and recovery of substantial costs. The 57-day trial was the longest in the Commercial Court’s judicial year (2012–13).
In addition to achieving complete success at trial, the team won a series of strategic victories that put Excalibur on the back foot from the start. On 13 December 2013, the court awarded indemnity costs of £17.5m, a payment on account of the defendants’ costs, and gave permission for Gulf to pursue Excalibur’s funders.
The Memery Crystal team was led by partner Harvey Rands and included partner Nicholas Scott and solicitors Peter Reynolds and Anne McMahon.