The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Lawyers are predicting an influx of UK investment into Egypt after the country's government has been forced by an international body to recognise treaty rules on contracts for the first time.
The International Centre for the Settlement of Investment Disputes (ICSID), affiliated to the World Bank, pushed a $60m claim by British hotel group Wena Hotels against the Egyptian government into an international arbitration.
A bilateral investment treaty was cited by ICSID to force the Egyptian government into arbitration.
Hundreds of these agreements exist across the world, and lawyers say this shows investors they can be used to make Egypt honour its contracts.
Jeremy Winter, head of construction and arbitration at Baker & McKenzie in London, says: "This decision is very significant."
"It not only affects construction contracts but contracts across the board.
"It is a significant factor for businesses deciding whether to do things in Egypt. It improves the reputation of Egypt as a place to do business.
"In the past Egypt has always been a problem place for foreign investment because there is difficulty in getting the government boards to stick to arbitration clauses in contracts. This has forced foreign investors into Egyptian courts, which is not a popular option.
"This decision has moved things to an inter-country level."