In 2005, the partners of Haynes and Boone set a goal of opening a London office within a decade.
The imperative was clear: US law firms such as Haynes and Boone, with aspirations to serve clients across the globe in a seamless manner, must have an office in London. The city is a vital hub for international business and is home to some of the world’s leading legal talent.
Then, a mere week before the firm was set to announce a merger with the leading English boutique law firm Curtis Davis Garrard, UK voters chose to leave the EU. The result was neither expected nor desired but it did not come close to derailing the firm’s plans.
Why didn’t the partners flinch? As Haynes and Boone has grown from its Dallas roots, its lawyers have seen a significant increase in transactions negotiated under English law and in disputes for which the parties have agreed to London arbitration or High Court jurisdiction under English law.
English law will remain a dominant choice of law in cross-border transactions and international dispute resolution.
The firm was undeterred by Brexit for another reason: large law firms are increasingly exposed to but also insulated from regional political and economic uncertainties. The firm’s clients hail from roughly 30 countries and many operate in industries and jurisdictions that are not dependent on the UK’s trade relations with the EU.
The imperative was clear: US law firms such as Haynes and Boone, with aspirations to serve clients across the globe in a seamless manner, must have an office in London. The city is a vital hub for international business and is home to some of the world’s leading legal talent.
Then, a mere week before the firm was set to announce a merger with the leading English boutique law firm Curtis Davis Garrard, UK voters chose to leave the EU. The result was neither expected nor desired but it did not come close to derailing the firm’s plans.
Why didn’t the partners flinch? As Haynes and Boone has grown from its Dallas roots, its lawyers have seen a significant increase in transactions negotiated under English law and in disputes for which the parties have agreed to London arbitration or High Court jurisdiction under English law.
English law will remain a dominant choice of law in cross-border transactions and international dispute resolution.
The firm was undeterred by Brexit for another reason: large law firms are increasingly exposed to but also insulated from regional political and economic uncertainties. The firm’s clients hail from roughly 30 countries and many operate in industries and jurisdictions that are not dependent on the UK’s trade relations with the EU.
Excerpted from The Times of London. To read the full article, please click here.
