LegalMagazine judgessummon law firmsOver the past twelve months, many changes have come into affect regardinglegislature. Not least at the highest level<strong>Law</strong> firms have a vital role to play in helping to leadthe global community out of recession. A renewed focus on riskpromises to give lawyers a ringside seat in boardrooms across theworld as businesses grapple with the challenges thrown up over thecourse of the year.With the importance on reliable legal representation paramountto the future of commerce for many companies, <strong>World</strong> <strong>Finance</strong>recommends outstanding legal firms and individuals in the<strong>2010</strong> Legal <strong>Awards</strong>.The year has been an important one in European law with theratification of the Lisbon Treaty. With the Czech Republic completingthe process in November, the treaty was enshrined in December.In spite of criticisms of its federalist undertones, it paves the stagefor a streamlined system, greater transparency and better functionality.After the planned EU constitution was rejected by France andthe Netherlands in 2005, the Lisbon Treaty took a second referendumbefore it was accepted by the Irish Republic. And the CzechRepublic this year became the final remaining Member State toratify, giving rise to its full incorporation. Many of the key changesthat the constitution attempted to introduce have remained in thetreaty, such as the election of a new EU president as well as thecreation of a new High Representative post, a smaller EuropeanCommission and a redistribution of voting weights between theStates. The Commission, Parliament and European Court of Justicewill be endowed with new powers and legislation will be passed,on the most part, by co-decision. Co-decision sees the Parliamentbecoming an equal partner of the Council, representing MemberStates, for almost all EU legislation.Belgian Prime Minister Herman Van Rompuy was chosen asthe first full-time President of the European Council, after receivingunanimous backing from the 27 EU leaders. The EU’s foreignpolicy chiefs, Javier Solana and Benita Ferrero-Waldner, will seetheir jobs merged into one role, hopefully bringing with the newposition greater coherence, continuity and visibility. There are anumber of other changes too, including national parliaments gainingan increased role in EU decision-making, with an eight-weekdeadline within which to issue objections to draft laws they feeloverstep EU authority. If enough national parliaments object, thecommission can then decide whether to maintain, amend or withdrawthe legislation. Another significant change is the introductionof a right to withdraw, if any EU country wishes to invoke it.In the US, arguably the most important legal developmentof the year was the passing of an energy bill by both houses. AsDemocrats continued to insist on tough new standards, the Republicans’concern for relative cost had once dissuaded the passingof a comprehensive climate change bill. The bill was nonethelessapproved by the House of Representatives in June and placed oncalendar in the Senate under general orders on July 6. It was thefirst time that either House approved a bill on climate change, andset the stage for a legitimate bipartisan solution that would restorethe US’ position as leaders in carbon emissions reductions. Seekingto revitalise the damaged economy and create new job opportunitiesas well as reduce pollution and safeguard national security, thebill binds the US to reducing carbon emissions by 83 percent in2050 and in the shorter-term, 16 percent in 2020, based on 2005’sfigures as a start-point.The coming together of the states and parties into a onevoicepiece of legislation signifies a new start, a road towards theaggressive reduction of carbon emissions through a strategy providingflexible compliance options. The bill also sees importanceplaced on nuclear power and gives the US a chance to break dependenceon foreign oil supplies. With China and India’s investmentscreating millions of jobs, it is important that the US does notslip back and sacrifice jobs to overseas competitors. The flexibilityof the new regime is based around a cap and trade system, protectingbusinesses and consumers from increases in energy prices.Companies would buy or sell permits to emit gases under the bill,which also requires investment in new clean energy technologies.Alternative compliance payments are USD 25/MWh for violations,to be adjusted for inflation annually. The acceptance of the bill byboth houses has been seen as a huge achievement for Obama – whodeclared the passage “a bold and necessary step” – in spite of itsscaled-back emissions targets from the position before the vote. Aregion and ideology-spanning compromise was undoubtedly one ofthe main drivers for its passage. The bill was passed by 219 to 212,in spite of 44 Democrats voting against it. Critics have said thatthe bill relies too heavily on fossil fuels and fails to do enough toadvance renewable energy, but compromise was necessary in orderto reach consensus enough to have it passed.All of these recent changes make this list of immense importance.In reviewing the year, the magazine’s judging panel selectedonly those firms and individuals who have performed to the highstandard during. With pleasure we honour those who have promotedexcellence within the field.42<strong>World</strong> <strong>Finance</strong> | Jan - Feb <strong>2010</strong>
ARGENTINABAHAMASBest Banking & <strong>Finance</strong> TeamBest M&A TeamBruchuo, Fernandez Madero& LombardiM&M BomchilBest Banking & <strong>Finance</strong> TeamBest Corporate &Commercial TeamMcKinney, Bancroft & HughesGraham Thompson & CoBest Tax TeamAsorey & NavarrineBest Real Estate TeamHiggs & JohnsonBest Corporate &Commercial TeamMarval, O’Farrell & MairalBest Insolvency & FinancialRestructuring TeamCallenders & CoBest Dispute Resolution TeamAllende & BreaBest Individual <strong>Law</strong>yerBrian Simms: Lennox PatonBest Real Estate TeamKlein & FrancoBest Transfer Pricing TeamLennox PatonBest Intellectual Property TeamMitrani Caballero Ojam AbogadosBELGIUMBest Competition& Anti-Trust TeamEstudio Beccar VarelaBest Banking & <strong>Finance</strong> TeamClifford Chance LLPBest Energy TeamEstudio O’FarrellBest M&A TeamEubeliusBest Insolvency & FinancialRestructuring TeamBest Employment TeamErrecondo, Salaverri, Dellatorre,Gonzalez & BurgioNicholson y Cano AbogadosBest Tax TeamBest Corporate &Commercial TeamLoyensLinklatersBest Individual <strong>Law</strong>yerHector Alegria: Estudio Alegria, BueyFernandez, Fissore y MontemerloBest Dispute Resolution TeamBest Real Estate TeamHanotiau & Van den BergAltiusBest Transfer Pricing TeamJP O’Farrell AbogadosBest Intellectual Property TeamBird & BirdBest Foreign InvestmentPracticeHope, Duggan & SilvaBest Competition& Anti-Trust TeamAllen & Overy LLPAUSTRALIABest Energy TeamLiedekerke Wolters WaelbroeckKirkpatrickBest Banking & <strong>Finance</strong> TeamBest M&A TeamFreehillsBlake Dawson WaldronBest Insolvency & FinancialRestructuring TeamWilmerHaleBest Tax TeamBest Corporate &Commercial TeamAtanaskovic HartnellAllens Arthur RobinsonBest Employment TeamBest Individual <strong>Law</strong>yerBrian Hartnett, Squire, Sanders& Dempsey LLPPhilipe de BaereBest Dispute Resolution TeamMallesons Stephen JaquesBest Shipping TeamNautadutilhBest Real Estate TeamBest Intellectual Property TeamDeaconsMinter EllisonBest Transfer Pricing TeamBest Foreign InvestmentPracticeHogan & HartsonSimont BraunBest Business <strong>Law</strong> TeamDLA Philips FoxBERMUDABest Competition& Anti-Trust TeamGilbert & TobinBest Banking & <strong>Finance</strong> TeamAttride-Stirling & WolonieckiBest Energy TeamBest Insolvency & FinancialRestructuring TeamBest Employment TeamBest Individual <strong>Law</strong>yerBest Transfer Pricing TeamBest Foreign InvestmentPracticeClayton UtzHenry Davis YorkArnold Bloch LeiblerMichael Ball: Allens Arthur RobinsonBanki Haddock FloraMoulis LegalBest M&A TeamBest Corporate &Commercial TeamBest Dispute Resolution TeamBest Insolvency & FinancialRestructuring TeamBest Individual <strong>Law</strong>yerBRAZILBest Banking & <strong>Finance</strong> TeamApplebyConyers Dill & PearmanCox Hallett WilkinsonMello Jones & MartinDavid Lines: ApplebyMachado, Meyer, Sendacz e Opice43<strong>World</strong> <strong>Finance</strong> | Jan - Feb <strong>2010</strong>
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