State court litigation and private arbitration proceedings require practitioners to combine legal thoroughness and the management of evidence with strategic ingenuity. Understanding court processes, legal practice and tactical procedural advantages all add up to sound advice in contentious legal matters.
Dispute resolution in all its appearances enjoys a long-standing tradition at Prager Dreifuss. Our attorneys represent parties before local state courts as well as administrative authorities. Debt collection and bankruptcy matters are strong areas of our practice, in particular in disputes involving foreign parties. International arbitration has attained special significance in our firm and a number of our attorneys are regularly appointed as arbitrators in institutional and ad hoc arbitration tribunals. Continue reading “Sponsored spotlight: Dispute resolution: Strategic case management with legal acumen”
On paper at least, history will show that 2019 was a very good year. Encouraged by sustained low interest rates, declining trade policy uncertainty and diminished fears of an economic slowdown, US stock markets led the way: the S&P 500 ended the year up 28% and the Nasdaq 35%. Meanwhile, the Europe-wide STOXX 600 increased by 23% and the FTSE 100 by a more modest 12%.
But on the ground, things seemed a little different for many offshore law firms. ‘Even by recent standards, 2019 was an extraordinary year in geopolitical and macro-economic terms: US-China trade wars, Brexit uncertainty, volatility in the US dollar/GBP exchange rate, tension in Hong Kong and the growing risk of a global economic downturn,’ says Jonathan Rigby, global managing partner of Mourant. Continue reading “Global offshore – Stick or twist for the sector’s leaders”
Visiting Milan at the end of 2019, it was striking that a map of law firms’ office addresses drawn up just the year before was no longer reliable: too many had moved, taken up larger premises… or no longer existed.
Finding our way to meetings with 20 partners at domestic and international firms, an unusual buzzword was emerging: consolidation. ‘There are too many Italian firms and there is not space for everyone, so they need to consolidate,’ argues one Milan-based partner of a foreign firm. Continue reading “The Italian report – Midway upon the journey of our life”
A century on from Atatürk’s proclamation that the republic would be ‘happy, prosperous and victorious’, the founder of modern Turkey would today find his vision being questioned. In 2016, a failed coup left over 300 people dead. During the mass detentions that followed, nearly 2,500 judges were arrested. Within two years, Turkey’s credit bubble had burst: the lira halved in value against the US dollar, inflation hit 25% and GDP, which had been growing at 7%, flatlined.
Following the withdrawal of US troops in October 2019, the invasion of northeast Syria to create a safe zone along Turkey’s southern border led US President Donald Trump to tweet: ‘I will totally destroy and obliterate the economy of Turkey.’ In October, the House of Representatives voted by 403 to 16 to impose a series of sweeping sanctions on Turkey. But US politicians remain split, with senate majority leader Mitch McConnell warning that sanctions would cause economic damage and alienate the Turkish people. Continue reading “Turkey – Back from the brink”
Joe Andrew, the architect of Dentons’ global strategy, is not known for pulling his punches. As such, his stance on staffing the African practices of international law firms is typical: ‘Why would you look to Europe or the US? It’s parochial, it’s a residue of colonialism, and it borders on racism.’
The firm’s chair warms to his theme. ‘There are 54 countries on the continent, and to different degrees they’re all experiencing an incredible democratisation of information. There’s talent everywhere. We don’t agree with our competitors who believe that the best way to service clients is to hire people from Europe.’ Continue reading “Africa rising – Foreign firms strive to cover the booming continent”
Thriving in the face of adversity as politics and security play an integral part in everyday life is a default position for Israel. The data backs this up: recent OECD reports describe Israel as stable with strong economic growth: annual GDP has consistently risen by three to four percent over recent years to reach nearly $400bn in 2019. This, despite a protracted leadership battle taking place with two general elections in six months bringing the nation no closer to a conclusive result.
Michael Barnea, managing partner of Barnea, Jaffa, Lande & Co, develops the point: ‘The environment is surprisingly robust considering the political instability that we’ve experienced for a considerable time. Investment, both from overseas into Israel and in the local market, is extremely strong and gives every appearance of being confident in the future.’ Continue reading “Israel: Anti-fragile”
Protracted arguments over Brexit have led a divided Britain to the point of exhaustion. In the months leading up to the June 2016 referendum, offshore firms were concerned about the potential impact of a ‘Yes’ vote – although perhaps less so than some of their onshore counterparts. Even before the financial crisis, there had been a continued diversification by larger firms in the major offshore jurisdictions away from a reliance on the UK economy.
Since the referendum, offshore firms in the British Crown Dependencies and Overseas Territories have been dealing with the problems of continued uncertainty that Brexit has created for their clients and advising them in relation to investment opportunities that may arise once it is eventually resolved. Continue reading “Offshore: Deal or no deal?”