American Lawyer awards prize to Noerr’s litigation team in Global Legal Awards
Noerr was honoured in New York for successfully advising and representing the City of Leipzig’s Water and Wastewater Utility (Kommunale Wasserwerke Leipzig, “KWL”) in litigation conducted before the High Court of Justice in London. A judging panel of the renowned U.S. magazine “American Lawyer” selected the case as the “Global Dispute of the Year: U.K. Litigation”. The case concerned claims of € 350m made by major international banks under financial derivatives transactions.
The judgment came after nearly five years of litigation in Germany and England. On 4 November 2014, the London High Court handed down its judgement after a trial lasting almost three months, saying that the banks were not entitled to any payments from KWL under the collateralised debt obligations (“CDOs”) concluded in 2006 and 2007.
On KWL’s side, the Noerr team had acted together with English lawyers of Addleshaw Goddard as well as with barristers Tim Lord QC and Simon Salzedo QC of Brick Court Chambers. All teams operated under the lead of Noerr’s Munich-based partner Christine Volohonsky.
This year, Noerr has already received several international awards. In addition to the American Lawyer award, Chambers selected the firm as “Germany Law Firm of the Year 2015” and The Lawyer chose Noerr as “Law Firm of the Year: Germany”. In Germany, the legal publisher Juve declared Noerr “Law Firm of the Year” and “Law Firm of the Year for M&A” in 2014.