Clifford Chance took home the award for it's work on Dubai World, the international conglomerate that shocked financial markets in November 2009 when it asked for a six month ‘standstill’ on £multi- billion debt obligations.
Mark Hyde accepted the Award, having led the Clifford Chance team.
Since November last year, Dubai World has agreed in principle the restructuring of $24.7bn of debt and remains in discussion with lenders on a further $3.8bn of debt.
The case is widely regarded as unprecedented and the legal advisers have had to work as new legislation was invented around them, pulling out more stops than anyone knew existed.