‘Even pariahs have rights’
BVI judgment identifies competing duties in representing sanctioned clients. Are law firms now ‘moral policemen’?
It is a judgment that divides opinion about a law firm’s duties: to the court, to their client and to comply with sanctions directives. Normally, no conflict arises between them. But in March, Mr Justice Jack denied Ogier’s application in the BVI to come off the record in advising the (now sanctioned) Russian bank, VTB – Russia’s second-biggest lender. Ogier had been advising VTB over proceedings in the BVI Commercial Court to enforce Russian judgments against several Russian businessmen and various related businesses. As a British Overseas Territory, UK sanctions automatically extend to the BVI.
August 2023 News
Securitisation and Cayman Orphan SPVs – Part Three
In the final article in a series of three, Paul Trewartha and Simon Lawrenson, Partners at Mourant Hong Kong, examine the key features of a securitisation vehicle and the advantages of utilising an Orphan SPV in the Cayman Islands for a securitisation transaction. In the first article of the series Securitisation and Cayman Orphan ...
July 2023 News
Cream of Jersey: best in class
Dominic Carman meets with the managing partners of Jersey’s elite law firms to discover how they are rising above economic challenges to deliver growth Enjoying a preeminent reputation as a major international finance centre that is both stable and at the forefront of international regulation, Jersey is often cited as a best-in-class offshore jurisdiction. ...