Dechert's Hranitzky Jumps to Quinn Emanuel to Launch Sovereign Disputes Group
Dennis Hranitzky personally led the seizure of a South American naval frigate during sprawling litigation over billions of dollars in defaulted Argentine bonds.
January 21, 2020 at 05:16 PM
4 minute read
Quinn Emanuel Urquhart & Sullivan is beefing up its international litigation offerings with a big name in sovereign disputes: Dennis Hranitzky, whose résumé includes helping to secure a $2.4 billion judgment against Argentina in a long-running, multijurisdictional battle over defaulted Argentine debt.
Hranitzky is joining Quinn Emanuel as the head of the firm's newly formed sovereign litigation practice. The decision to leave Dechert, where he was the co-head of the firm's international and insolvency litigation group, was difficult, Hranitzky said, but once he decided to depart, Quinn Emanuel was an easy choice.
Although Quinn Emanuel has handled sovereign litigation work in the past, it was not a separate standalone practice group until now, Hranitzky said.
Hranitzky said he will be bringing almost his entire practice from Dechert with him, including Debra O'Gorman, a longtime colleague. O'Gorman will join Quinn Emanuel as an of counsel next week. Hranitzky will be based in New York but will also spend "a significant amount of time" in Quinn Emanuel's London office, the firm said.
Hranitzky attributed his departure to Dechert to the growing number of client conflicts that were popping up in his mainly plaintiffs-side practice there.
"In the 13 years I was at Dechert, Dechert went from representing a handful of states to representing a great number of them, which was the right business decision for the firm. But it increasingly put the squeeze on me, given what I am best known for doing," Hranitzky said.
Hranitzky is probably best known for his work representing Elliott Management subsidiary NML Capital, which sued Argentina to force payment on billions of dollars in defaulted sovereign debt that the country sought to restructure amid a deep economic crisis.
It was through his representation of Elliott that Hranitzky personally led the seizure of the Libertad, an Argentinian naval frigate, when the vessel was docked in Ghana. Hranitzky recalled feeling nervous as he surrendered his passport to the Libertad captain—a condition he had to meet before he could board the vessel and inform the captain that it was being impounded.
"I never felt I was in physical danger. But when I had to surrender my passport, it definitely crossed my mind that I might not be able to get it back, or at least not easily," Hranitzky said.
Hranitzky and Quinn Emanuel have had many of the same clients, including Elliott Management in the Argentina litigation saga, said Susheel Kirpalani, the chair of the firm's bankruptcy and restructuring group.
"It seemed like the perfect synergistic fit for us," Kirpalani said.
Hranitzky will also be working closely with the firm's other teams, including its bankruptcy and restructuring, transnational litigation, international arbitration and Brazil practice groups, Quinn Emanuel announced.
Apart from O'Gorman, Hranitzky identified at three other Quinn Emanuel lawyers who will be a part of his new practice group: New York partner Kevin Reed, Washington, D.C., partner Daniel Salinas-Serrano, and New York associate Victor Noskov.
Quinn Emanuel's decision to launch this new practice group was not a reactive one, Kirpalani said. Instead, he said the firm is trying to anticipate the needs of clients dealing with investment-related issues involving sovereign states, sovereign wealth funds, and state-backed companies.
A spokesperson for Dechert said the firm wishes Hranitzky well.
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Argentine Bond Litigation Wins Global Legal Award for Disputes
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