Isle of Man: Cains Named Offshore Law Firm Of The Year
British Legal Awards Judging Panel Recognises Cains’ Achievements In 2007
Last Updated: 6 December 2007

Cains has been named as ‘offshore firm of the year’ by the judges of Legal Week’s 2007 British Legal Awards. The achievement was announced last night at a ceremony staged at Old Billingsgate Market London, attended by senior business figures and commentators from the legal profession and wider business community.

Criteria cited by the judging panel as crucial in winning the award included Cains' successful strategic expansion into new markets and high quality of client work, as well as the Firm's nurture and retention of talent, evident strong leadership and fostering of a cohesive culture. Cains successfully fought off competition from Appleby, Carey Olsen, Mourant and Ogier to secure the title.

Andrew Corlett, managing director of Cains, said: "This has been a year of enormous achievement for Cains and the winning of this prestigious award bears testimony to the dedication and excellence of all our employees.

"We have successfully cemented relationships with the City of London and Singapore as a foundation for winning listings work from clients in emerging global economies in India, Russia and China. This strategic focus has seen us play a major role in reinforcing the Isle of Man's position as key gateway to the world’s Capital Markets."

Cains' international success was also highlighted in the October 2007 Hemscott Advisers Rankings Guide. This revealed that the Firm advises eight of the top 100 companies listed currently on London's Alternative Investment Market (AIM), more than any other law firm and with a combined market value of £3,825 million.

The combined market value of companies listed on AIM and incorporated on the Isle of Man (£9,043.65million - based on close of market prices september 20 2007) also continues to exceed any other jurisdiction. This was recognised by the head of the City, Lord Mayor Alderman David Lewis, in a visit to the Isle of Man earlier this month, when he remarked upon the Isle of Man being "a core asset of the City of London"

and, in particular, the capability of the Isle of Man "in helping companies list on AIM and thereby gain rapid, quality access to the City's capital investment markets."

Andrew Corlett adds: "Our success would not have been possible without the world class platform provided by the Isle of Man, which is now well-established as a leading international financial centre and is truly interconnected with the global economic community. This represents a fantastic opportunity, one which I am delighted to say is being firmly grasped by Cains and our colleagues in other Isle of Man law firms such as Dickinson Cruickshank and Simcocks."

Meanwhile, Cains further underlined its commitment to client service and international growth with the announcement earlier this month of its intention to open an Asia-Pacific regional office in Singapore by July 2008.

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