Garrigues named Continental Europe’s “Most Innovative Law Firm”
Garrigues has picked up the award for Continental Europe’s “Most Innovative Law Firm” at the FT Innovative Lawyers Awards, the annual ceremony where the British newspaper the Financial Times grants awards for the pioneering initiatives taken by European law firms. This marks the third time in four years that the Firm has taken top honors.
Garrigues was also a finalist in another four categories: ‘Most Innovative Firm in Europe – including the United Kingdom’ (the only Spanish firm nominated in this category); ‘Dispute Resolution’, ‘Finance’ and ‘Social Responsibility’. Lastly, in the annual ranking of most innovative firms published by the Financial Times, Garrigues is the only Spanish firm to crack the European top ten, rising from tenth to sixth place.
Finalist in another four categories
Together with the award won, Garrigues obtained another four nominations: ‘Most Innovative Firm in Europe’, including UK firms; and another three nominations that recognize the excellence of the firm’s professional services.
In the ‘Dispute Resolution’ category, Garrigues was a finalist for developing a proprietary methodology for legally filing and managing, for the benefit of investment funds and other financial investors not resident in Spain (resident in the EU and even in third countries such as the United States), numerous refunds of taxes that were contrary to EU law, in both the administrative and judicial jurisdictions. Garrigues, in conjunction with the Taxand network, has taken this strategy to other European countries where the same issue is raised.
Under the ‘Finance’ heading, Garrigues was nominated for participating, together with one of Spain’s major financial institutions, in the first issue of contingent convertible bonds known as “CoCos” (Perpetual Preferred Tier 1 Securities), a novel product in the Spanish financial system that complies with the regulations laid down by the European Banking Authority and Basel III.
Lastly, in the area of ‘Social Responsibility’, the Financial Times acknowledged Garrigues’ work, together with Corporate Excellence, in implementing an original tool for identifying and monitoring emerging issues and problems that may constitute a source of risks and opportunities for companies in both the short and long term.