India should participate in global legal profession says ambassador
As discussions continue about how and when foreign law firms will be permitted to operate in India, the US ambassador to the country has urged the profession to embrace globalization.
Speaking at an event organized by the Jindal Global Law School of O.P. Jindal Global University and Indiana University Maurer School of Law's Center on the Global Legal Profession, Richard R. Verma said that liberalization of India’s legal profession is a key part of the country reaching its global potential.
However, the ambassador acknowledged that the entry of foreign law firms must be sensitive to the domestic legal profession’s needs. “Permitting foreign law firms to work in India does not mean taking away the market share but it is about providing best legal advice to the clients," he said.
Also speaking at the event was the joint secretary of India’s Ministry of Commerce & Industry, Sudhanshu Pandey, who stressed that there is a large advantage to opening up the sector, but that the right governance is essential.
"While there is an imperative need to build better communication, more sound partnerships between foreign and domestic lawyers, and more legitimate governance mechanisms, at no stage do we feel that opening up of this sector will adversely affect anyone in India, rather, it will be another growth story,” Mr Pandey said.
Kim Dotcom to appeal over NZ, HK assets
Entrepreneur Kim Dotcom is hoping for a review into a US Federal Court ruling that he cannot keep his multi-million dollar assets in New Zealand and Hong Kong.
Dotcom is fighting extradition to the US following a New Zealand court ruling in December, a hearing is due this month. The American court says that while he is outside the US he is a fugitive and cannot control his assets.
His lawyer, Ira P. Rothken told Reuters that they will petition the US Supreme Court if necessary: “This opinion has the effect of eviscerating Kim Dotcom's treaty rights by saying if you lawfully oppose extradition in New Zealand, the U.S. will still call you a fugitive and take all of your assets.”
Dotcom is accused of copyright infringement, racketeering and money laundering in the US.
Another Brit law firm considers pay freeze over Brexit concern
London-based international law firm Trowers & Hamlins are considering whether to freeze pay reviews for fee earners due to the continued uncertainty of the impact of the UK’s exit from the EU.
It’s reported by Roll on Friday that the firm will consider the review at its management meeting next month but although senior partner Jennie Gubbins hopes that reviews will go ahead, there is no guarantee.
If pay is frozen then the firm will be following BLP, Gowling and Addleshaw Goddard in making the move amid Brexit concerns.