Disputes from Russia and the CIS are an increasingly profitable area for Western firms, even for those without offices in the region. LB looks at how long the trend can continue
It’s a time bomb,’ says Dimitry Afanasiev, chairman of the Russian law firm Egorov, Puginsky, Afanasiev & Partners. ‘Given the fact that at some point some of these commercial contracts are going to blow up into a dispute then I think the English legal market is going to see Russian business for a long, long time.’Despite the financial knocks that the UK has taken over the past few years, one small, but very important English niche retains a market-leading foothold in the wider global economy. UK manufacturing may perpetually be in the doldrums and the financial services sector might have taken a battering in the credit crunch, but English law remains one of the country’s most saleable assets.
