Law firm Keystone Law was crowned Law Firm of the Year at The Lawyer Awards 2020 in a virtual ceremony.

And there was added delight for the company when The Times newspaper announced that it was on its list of 200 best law firms in the British Isles.

The Lawyer Awards showcase stand-out teams and transactions across the legal profession and are widely recognised as the industry-leading awards.

The Lawyer magazine is the largest legal publication for commercial lawyers, barristers and in-house counsel in the British Isles.

It is the first time in its 26-year history that the top prize has been handed to a non-traditional law firm, having previously been won by some of the biggest firms including Clifford Chance, Pinsent Masons and Mishcon de Reya. Keystone, which launched in the Isle of Man in 2016, was highlighted as this year’s big winner for being a pioneer in the legal sector.

A spokesman said Keystone had been growing since it started, attracting heavyweight lawyers from traditional law firms, all the while providing complete autonomy and freedom in the way they worked.

The judges commented that during the coronavirus pandemic ‘Keystone’s model has been vindicated in spades’ and thanks to its innovative use of technology and modern working practices is ‘light years ahead’ in enabling lawyers to work remotely and provide high-quality service to clients.

The accolade follows a rigorous judging process, which included analysing The Lawyer’s proprietary data and market insight alongside input from a judging panel of industry experts.

Geoff Kermeen, managing director of Keystone Law IoM, said: ‘I’m absolutely delighted that Keystone has won this coveted award. Thanks to the hard work and dedication of the team, we have been able to push the boundaries to provide a first-rate alternative to traditional firms on the island and provide the best service possible to our clients, in an efficient and flexible way.

‘It is particularly pleasing to be able to contribute to Keystone’s stellar growth and overall success.

‘To win this award is an outstanding achievement.’

This is the second big triumph for the Keystone Isle of Man team in the last month.

The firm was also named as a leading law firm in The Legal 500 2021 directory and praised for its ‘knowledgeable and responsive’ team who garnered tier 1 and tier 2 rankings for all of its practice areas.

Only last month Business News reported how they they believe in doing things differently at the ‘challenger’ legal firm Keystone Law which claimed it had been very much ‘business as usual’ during the health crisis.

The company is listed on the AIM market at the London Stock Exchange and often catches the eye of the financial pages of the national UK press.

Director Gillian Christian told Business News last month: ‘Lockdown actually did not affect our business at all to be honest.

‘One of the main things about Keystone is the amount of money they have ploughed into its systems and technology.

‘Its systems are such that we are all self sufficient so, yes, we have an office (in Athol Street, Douglas) but actually our systems are geared up so that we can work from home.’

Keystone is listed on the AIM market at the London Stock Exchange.

Keystone Law’s chief executive and founder James Knight, who is based in London.

He has family links with the island where he has lived previously.