Walkers is a Cayman Islands based offshore law firm. Although the firm now has offices in a number of jurisdictions, over half its staff remain based in the Cayman Islands. Walkers (law firm) set up a branch in 15/F, Alexandra House, Hong Kong. It is a member of the offshore magic circle.
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History
The firm was founded by Bill Walker (under the name W.S. Walker & Co.) shortly after Jamaican independence in 1962 (whereupon Cayman, which had previously been administered as part of Jamaica, was separated and remained as an independent part of the Commonwealth). Walkers is generally accepted as being the oldest Caymanian law firm, older than rivals Maples and Calder by about two years. It is a member of the offshore magic circle.
Walkers has been regarded as one of the Cayman Islands top two law firms since it was founded.
In 2008 Walkers was crowned Firm of the Year - Offshore Law Firm of the Year at the 2008 ALB Hong Kong Law Awards.
Maps Walkers (law firm)
Multi-jurisdictionalism
Walkers was an early participant in the trend towards multi jurisdictional offshore law firms, acquiring by merger British Virgin Islands law firm, Barkers, in 2001. It subsequently acquired Jersey law firm, Crills, in 2005. The firm also has further offices in Dubai, Dublin, London, Singapore, Hong Kong and Bermuda*. In July 2016 Walkers announced that they had acquired by merger the Guernsey law firm AO Hall. With the new Guernsey office Walker's has ten offices around the world.
The Chambers and Partners legal directory has rated Walkers as one of the top tier of multi-jurisdictional offshore law firms.
In the Lawyer's 2015 Offshore Top 30 report of February 23, 2015, Joanne Harris pointed out that Walker's has now surpassed Maples and Calder as the largest offshore firm in Asia in terms of their number of lawyers.
*In Bermuda, Walkers works in exclusive association with Taylors, a full service commercial law firm providing advice on all aspects of Bermuda law with particular emphasis on matters of corporate and international finance law and insolvency and dispute resolution.
Merger talks
In late 2007, discussions became public about a proposed merger between Walkers and Jersey-based Mourant du Feu & Jeune. Although mergers between offshore firms are relatively common, such a merger would be the first merger between two of the major global offshore players, creating by far the largest offshore law firm in the world. However, in February 2008 the two firms announced that they were no longer pursuing merger talks. Mourants subsequently merged with Guernsey firm, Ozannes, in 2010.
Sale Of Fiduciary Business & Establishment Of New Business
In March 2012 Walkers announced it was selling its fiduciary business, Walkers Management Services, to the Intertrust Group. Like many offshore firms, Walkers business was previously divided between its legal practice and fiduciary services. Shortly afterwards, a large number of Walkers partners and senior associates defected to rival Caymanian law firm, Maples and Calder. Although none of the defecting partners confirmed any link between the events, the timing naturally creates an inference that there may have been a connection.
In May 2015 Walkers announced the establishment of a new fiduciary business called Walkers Professional Services with offices in the Cayman Islands, Hong Kong and Dubai.
References
External links
- Official website
- Chambers and Partners Offshore Ranking
Source of the article : Wikipedia
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