Features

  • Offshore: The final frontier

    By Legal Week | November 2, 2010

    Over the last decade the commercial space sector has flourished and it is presently reported to have an annual global turnover of $261bn (£165bn). The rapid development of commercial space is creating something of a revolution, one that is reminiscent of commercial aviation in the 1920s. And this is a revolution that has not passed the Isle of Man by.

  • Offshore: A once-trusted vessel

    By Legal Week | November 2, 2010

    Offshore firms are still fighting to defend their jurisdictions as the financial crisis reignites debate over tax evasion and tax avoidance. Dominic Carman reports

  • Fit for practice - the new hurdles for overseas lawyers taking the QLTS

    By Suzi Ring | October 26, 2010

    The Qualified Lawyers Transfer Test (QLTT) has paved the way for numerous overseas solicitors to practise law in England and Wales since it was created in 1990, but after setting the standard for 20 years, the Solicitors Regulation Authority (SRA) recently decided that the time had come to reform the system. With the new Qualified Lawyers Transfer Scheme (QLTS) now in play as of 1 September 2010, new applicants face a number of hurdles.

  • Offshore: Rules of the islands

    By Legal Week | June 22, 2010

    Bernard Madoff may have dominated the headlines in 2008, but those who invested in his company were by no means the only ones affected during the market turmoil of that period. Now that the immediate crisis of liquidity and redemptions has passed, complex and novel issues surrounding investors' rights and fund structuring are making their way to court in popular hedge fund jurisdictions including the Cayman Islands and British Virgin Islands (BVI).

  • Offshore: Wait and see

    By Legal Week | June 22, 2010

    Arguably, far too much has already been written about the European Union's Alternative Investment Fund Managers Directive. Some of it, though, has been of great help to the industry. Awareness of the potential problems posed by some of the earlier drafts has helped to rein in at least a few of the excesses. Less helpful has been the plethora of advisers keen to claim that they have the answer to all of your structuring needs, despite the fact that at the time of writing we are still not at a point at which we can say with certainty where the directive will end up. New jurisdictions have even offered to solve problems that have not yet been posed.

  • US briefing: The Google slayers

    By Legal Week | May 19, 2010

    When Charles 'Rick' Rule of Cadwalader Wickersham & Taft talks about his crusade against Google, he sounds very self-assured: "We've got an opening and others who want to follow us into that opening - we're here to help. If you look at the last five years, Google ran roughshod over companies without facing significant pushback. Now they're facing counsel that have figured out the algorithm to go against them." Rule, is a former head of the US Department of Justice's antitrust division during the Reagan administration. As the head of Cadwalader's antitrust practice in Washington DC, he was counsel for Microsoft in its three-year antitrust battle with the US Government. Now he is part of a small army of private lawyers and public agencies taking aim at the internet behemoth Google.

  • The Am Law 100: Holy non-equity partners!

    By Legal Week | May 19, 2010

    Last year, as law firms struggled with the brutal realities of the recession, many managing partners took the tried-and-true approach to cutting costs - layoffs. For The Am Law 100, the hardest hit were the junior associates - as equity partners merely saw their numbers flatten out. Next in line, theoretically, should have been the non-equity partners. This vulnerable group includes fresh lateral recruits; young lawyers caught in the limbo between senior associate and equity partner; equity partners who have lost their equity status - the dreaded de-equitisation; senior equity partners eyeing retirement; and service partners with a slim (or non-existent) book of business.

  • Africa: Digging for resolutions

    By Legal Week | May 11, 2010

    There is a discernible mood of cautious optimism among stakeholders in South Africa's mining industry after certain encouraging developments in March 2010. First, during his visit to the UK, President Jacob Zuma went out of his way to reassure international investors that the Government has no intention of nationalising the country's mining industry. Then, at a high-level mining summit held in South Africa, business, labour and Government sat down together to debate the challenges facing the mining industry. The backdrop to the mining summit was longstanding uncertainty over regulatory changes affecting the mining industry, such as the new regulations accompanying the Mineral and Petroleum Resources Development Act (MPRDA). Another sticking point has been confusion over the empowerment implications for the mining industry of the most recently published Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice, versus the older Mining Charter and Scorecard.

  • Austria: Protect what's yours

    By Legal Week | March 24, 2010

    Christian Schumacher, Michael Horak and Sascha Salomonowitz say Austria's strong IP enforcement makes the country one of the best for trying patent infringement cases

  • Banking and finance: Starting forward again

    By Legal Week | January 27, 2010

    Despite predictions that the green shoots of recovery from the liquidity crisis are growing, most financial institutions remain under pressure to increase capital reserves and clean up their balance sheets. The limited availability of financing is affecting all corporate borrowers, irrespective of their ability to comply with the terms of existing financial arrangements. While over-leveraged borrowers continue to negotiate waivers and covenant suspensions, healthier borrowers are facing the growing fear that lenders will be unable to refinance existing facilities on maturity.

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