Categories:Switzerland

Eversheds moots Swiss Verein move as part of its 2020 vision

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  • I've never heard of a verein: what are the advantages and what is it?

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  • Who were the three firms involved in merger talks?

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  • In Switzerland, a verein is akin to a voluntary association - a grouping of individual companies or firms, each with separate limited liability and regulated by the members' respective domestic jurisdictions; whose joint and overall governance or control is "pooled" within an over-arching board or committee. Norton Rose and SNR Denton - LLPs each holding subsidiaries and shares in associated firms practising in 20+ countries - are examples of the "verein" model operating in the UK.
    The principal benefit lies in the pursuit of a unified, global policy of business expansion whilst preserving independence of liability between national entities; although I am aware of at least one judgment (in the USA) in which claimants argued successfully that the court should apply "veil piercing" in order to hold that one country's firm of accountants was acting as agent for an alleged "verein-principal" domiciled in another.

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  • I've never heard of Eversheds: what are the advantages and what is it?

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  • When are they going to do a US merger? That's the only way this firm will ever have a chance of being "global".

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  • What a pity that with all the structural and constitutional options available under English law they are even considering this route. May be it is time the SRA put a stop to this. Is this another example of Barclays syndrome?

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  • I predict that in 2018, Dickinson Dees will suddenly announce they are moving to the Swiss Verein structure.

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