Global law firms have traditionally dominated the corporate market in Russia and the CIS. LB assesses the chances of those domestic firms taking on the internationals at their own game.
Dimitry Afanasiev, chairman of the Russian law firm Egorov, Puginsky, Afanasiev & Partners (EPA&P), is fully aware of the challenges that lie ahead. On 19 July, EPA&P announced that it was to take over the Ukrainian firm Magisters, creating a pan-CIS firm with over 300 lawyers and, as reported in the legal press, a combined turnover of €115m. In doing so, the firm has planted a serious flag in a market that has always been dominated by major internationals.
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