Focus International: the world of questions facing global law firms in 2017
This publication looks at some of the key trends in legal markets around the world
January 05, 2017 at 07:50 AM
3 minute read
This is not our typical international supplement. In the past, we've published Focus Europe, Focus Latin America and The Asian Lawyer – magazines that maintained an obvious regional bent as they took a hard look at events and trends in some of the world's most dynamic legal markets.
So when I learned that we would be merging those publications, along with the Global Independent Law Firms supplement, into one magazine called Focus International, I was sceptical. After all, how focused could the magazine be if it undertook an examination of the entire world?
But as the stories began to gel, it became clear that this is an ideal time to do away with the regional boundaries that were set by the geopolitics of the past. Companies and law firms have been crossing those lines for a while and they continue to move around the globe, hoping to increase profits and gain influence.
Of course, recent world events that started with the UK's decision to leave the European Union and continued with the US presidential election of Donald Trump have sparked global uneasiness and uncertainty. As chief European correspondent Chris Johnson writes in our cover story, those two events set off, in the words of one Big Law partner, a "perfect storm of instability".
Populist movements that led to Brexit and the surprising upset in the US presidential election are now spreading across Europe. Calls for stronger borders and protectionist regulations could upend the globalisation efforts that have made it possible for companies and law firms to thrive outside of their home markets.
The shrill cries to build more walls may ultimately have little effect, however. Mexico's newly open energy market is attracting investment from all over the world. Argentina, a country that was in default on its sovereign debt not long ago, is attracting billions of dollars in foreign investment. South Africa has become a gateway for law firms looking to capitalise on business activity in Africa. And the Middle East looks set to continue to provide work to law firms.
We may be in for a few tumultuous years, but the evidence strongly suggests that globalisation will be hard to stop.
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Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
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