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Offshore giant Walkers has launched a dedicated employment practice in its Cayman Islands base.
The firm spent much of 2009 restructuring into a global practice hierarchy, a move that resulted in the closure of two Cayman-based practices, real estate and crime, necessitating 15 redundancies.
Walkers Cayman managing partner Diarmad Murray said the plan now was to put the firm’s existing employment lawyers into a dedicated practice, headed by Murray, to respond to a “sharp upswing” in enquiries about corporate restructurings.
“Over the past year, perhaps unsurprisingly, we’ve assisted numerous clients who’ve been looking to restructure their workforces due to economic circumstances,” said Murray. In January Walkers launched a Hong Kong investment funds group led by M&A partner Carol Hall (The Lawyer, 25 January).