BDA’s Ross Webber highlights the benefits international entrants bring to the market.
Recent moves by leading global law firms to set up offices in Bermuda mark something of a watershed for our jurisdiction. Bermuda has been renowned for its strength and depth with regard to quality lawyers – however, it has not always been heralded for its variety of choice. That looks set to change.
Continue reading “Bermuda’s evolving legal services landscape”
Geoff Cook of Jersey Finance discusses the role of offshore jurisdictions.
International finance centres (IFCs) have for some time known that they make a considerable, positive contribution to global economies, but until recently empirical evidence to reflect that has not been readily available.
Continue reading “Research reinforces the global value of IFCs”
After having unexpectedly stepped down from his role as Olswang’s chief executive in October last year amid differences with other partners, David Stewart (pictured) has re-emerged away from the City as a partner at Turks and Caicos firm Griffiths & Partners.
With global corporate markets experiencing a resurgence in 2014, the strongest offshore law firms had key roles to play in the world’s most high-profile deals and disputes. Legal Business’ annual offshore survey assesses recent highlights and profiles the leading offshore law firms.
In many ways, the last 12 months have represented another robust year for the ten largest global offshore law firms. In our first annual report on those firms last year, a number cited double-digit increases in revenues on the previous year. This year, a number are again reporting significant growth.
Continue reading “The tide is high – the report card on the world’s top offshore players”
Geoff Cook of Jersey Finance highlights the effects of the AIFMD on Jersey
Recent figures for Jersey’s funds sector show that business has reached its highest level in five years, with a strong upward trend in the alternative funds sector.
From a fund servicing point of view, as regulatory pressures ramp up the volume and complexity of reporting requirements, there is also expected to be a significant opportunity for Jersey’s specialist service providers to support lawyers and fund promoters onshore by meeting the demand for outsourced administration and governance requirements. Continue reading “London conference will highlight Jersey’s pivotal role as funds jurisdiction”
With transactional work picking up globally, offshore funds are back in vogue. We assess the most active offshore firms and the key recent developments
The renewed sense of optimism emanating from the world’s major financial centres has clearly made its way offshore. While the global financial crisis put successful launches of offshore private equity, real estate and listed funds on hold, the mood has clearly changed. New funds and start-ups are upbeat again and the fund practices of offshore law firms are enjoying healthy flows of work.
With corporate lawyers finding their feet once more, Legal Business examines the often overlooked role of offshore firms in major global corporate and capital markets transactions
2014 has been the year where the corporate lawyer has begun to feel valued again. Take Dublin-based drug manufacturer Shire’s proposed £32bn takeover by US giant AbbVie, which is scheduled to close this year and pitches US/UK corporate heavyweights Sullivan & Cromwell and Herbert Smith Freehills opposite Davis Polk & Wardwell and Slaughter and May for Shire. But while those elite international firms make the headlines, the deal is to be implemented via a scheme of arrangement in Jersey, based on advice to Shire from a Mourant Ozannes team led by partner Robert Hickling, with Ogier’s Simon Dinning heading a team for AbbVie.
Continue reading “Centre of the universe – the offshore counsel role in big ticket deals”
Philip Jennings of JLegal discusses these key jurisdictions and the opportunities (and challenges) of moving offshore.
The first thing to state is that the sub-heading above defines the importance of Cayman, Bermuda, BVI, Jersey and Guernsey. These are key jurisdictions in the global legal market and the original locations for the major offshore law firms which now have offices in myriad other locations, including in Asia and the Middle East. They are still where those firms have most of their lawyers and where most of their work originates from. The transactional and contentious work carried out under, and sometimes because of, the laws and regulations of these countries is always high value and cross-border, involving the Magic and Silver Circle firms on a regular basis. Sometimes the premier City or US firms will instruct the offshore firms on part of a deal or case but also some of the most prestigious clients directly instruct the offshore firms, including global banks and financial institutions, ultra high-net worth individuals, trust companies and funds.
Continue reading “Lateral hiring in the Caribbean and the Channel Islands”
MARKET VIEW – LITIGATION
Maples and Calder’s BVI managing partner, Arabella di Iorio, looks at complex commercial litigation in the British Virgin Islands
We all know the oft-repeated statistics: the hundreds of thousands of British Virgin Islands (BVI) incorporated companies, the hedge funds, the limited partnerships, the captive insurance companies. Those of us fortunate enough to live here also know that the BVI is among the most beautiful places on earth. But what is just as often forgotten is that the development of the BVI as a sophisticated offshore financial centre has gone hand in hand with its development as a jurisdiction able to handle the most complex international litigation.
Mishcon de Reya has today (11 June) announced it is set to launch an independent, private client advisory business entitled ‘Mayfair Private’ with offshore fiduciary firm Opus Private to provide ‘discreet professional solutions’ to wealthy individuals, families and private offices. Continue reading “Mishcon de Reya to launch independent private client business with offshore fiduciary firm”
