Conyers Dill & Pearman
Conyers Dill & Pearman had a net loss of 10 lawyers last year, dropping from 138 to 128. The firm closed two offices during the year. Moscow was the victim of a drop-off in Cypriot work as a result of the financial crisis, while two lawyers in São Paulo were relocated to other offices. Lawyer Gabriela Romano remains in Brazil.
Bermuda, where Conyers was founded, is the largest office by some distance, with nearly half of its partners and 40 per cent of its lawyers. Hong Kong and Singapore together account for another 20 per cent of the firm's lawyers and 10 partners, indicating the importance of Asia for the firm.
Indeed, a significant number of Conyers' deals are now for Chinese clients, although Bermuda law remains a key part of the firm's advice. Last year, this saw Conyers advise Mohammed al-Fayed on the sale of Fulham FC, for example.
Other highlights of the year included the firm's work for the AAR Consortium on the mammoth $55bn sale of its 50 per cent stake in the TNK-BP Group to Rosneft.
Conyers upgraded its client relationship management system last year, increasing the automation of updating contacts and identifying new contacts. The firm is also in the process of developing a proprietary system that will standardise the process of incorporating companies across the jurisdictions in which it operates, with the aim of promoting online collaboration.
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The Trusts (Special Provisions) Amendment Act 2014 provides certainty regarding how far settlors can go without calling the validity of the trust structure into question.
This memorandum has been prepared for the assistance of those who are considering registration of a foreign limited partnership in the Cayman Islands.