Hannah Fearn Named Joint Industry Ambassador of the Year
London, UK – International law firm Sullivan & Worcester is pleased to announce that London Trade and Export Finance managing associate Hannah Fearn has been jointly named "Industry Ambassador of the Year" at the RFix Awards 2022, held in London on May 26, for her work on the International Trade and Forfaiting Association (ITFA) Basel III Credit Risk Insurance (CRI) Policy Template. The award was made jointly to Hannah with Lee Hitge of Willis Towers Watson.
For over three years, Sullivan worked closely with Willis Towers Watson, ITFA, Clifford Chance and numerous other banks, insurers and brokerage firms, with the aim of developing a Basel III trade credit insurance policy form. The form, released in October 2021, is the first published standardised industry policy and represents a first step towards standardising a Basel III trade credit insurance policy.
Geoffrey Wynne, head of Sullivan’s Trade and Export Finance Group, also part of the team working on the project, commented: "I am delighted that Hannah and Lee have been recognised as Industry Ambassadors of the Year for their roles in this significant project. There is no doubt that by developing a consistent form of wording when negotiating trade credit insurance policies, endorsed by the industry, helps parties to reach agreement. But, of course, as the market continues to adapt and develop, it will continue to need more work."
Hannah's practice covers trade finance and insurance, advising on a wide range of cross-border trade finance transactions in a variety of jurisdictions, with an emphasis on emerging markets. Regularly advising banks on risk sharing techniques, including the drafting of sub-participations and credit insurance policies, she has extensive experience advising on the eligibility of different credit risk mitigation techniques for capital relief purposes under Basel III.
Sullivan & Worcester (Sullivan) is a leading AmLaw 200 law firm. With over 200 attorneys in Boston, London, New York, Tel Aviv and Washington, DC, they guide organizations that are rewriting the rules. Sullivan’s clients, including Fortune 500 companies and emerging businesses, rely on Sullivan’s strategic vision, comfort with complexity and intense focus on results. As a global law firm, Sullivan represents clients around the world and has a deep bench for working on a variety of matters and issues affecting clients.
In London, the office’s market-leading and multiple award-winning trade finance practice is the premium provider of legal advice in relation to trade, export and commodity finance transactions to major trade finance banks and other financial institutions, funds, corporate borrowers, agents and trustees, and national and international organisations. The team’s unique offering includes an integrated insurance and dispute resolution service handling both transactional and contentious instructions.
Sullivan’s London office is located at Tower 42 in the heart of the City of London. Details are as follows: 25 Old Broad Street, London EC2N 1HQ, Tel: +44 (0)20 7448 1000.