Maples and Calder
From Wikipedia, the free encyclopedia
Maples and Calder (sometimes referred to as Maples) is the largest law firm in the Cayman Islands. As at January 2008, it is also the largest offshore law firm in the world.
It was originally founded by Jim MacDonald and John Maples in the early 1960s. Later MacDonald retired and Douglas Calder joined as a partner, and the firm has retained this name ever since. The firm has traditionally eschewed the use of an ampersand in its name, contrary to normal practice for law firms.
The firm was founded in the early 1960s (the exact timing depends upon which event is used to determine the founding date), just in time to ride the spectacular wave of growth in Cayman's offshore financial sector which was precipitated by the independence of the Bahamas in the 1960s.[1] Jim MacDonald and the then-financial secretary of the Cayman Islands, Vasel Johnson, created much of the Caymanian offshore legislation which attracted the international business.
Although known predominantly as a Caymanian firm, Maples and Calder also has smaller offices in Dubai, Dublin, Jersey, Hong Kong, London and the British Virgin Islands.
Although historically the firm was better known for offshore securitisation work, firm is now probably better known for its Caymanian funds practice.
Maples is one of only two firms in the Cayman Islands ranked in the top tier by both Chambers and Legal 500 directories.
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[edit] Jersey office
Maples opened a Jersey office in 2004 as part of the trend towards multi jurisdictional offshore firms (they also merged with a legal practice in the British Virgin Islands in the same year).
However, January 2008 Maples and Calder announced a formal "best friends" relationship with Channel Islands firm, Carey Olsen,[1][2] which in the press was presented as a response to a potential merger between Mourant du Feu & Jeune and local competitors Walkers. As a result of the relationship, Maples will cease to practice Jersey law, and all of the firm's Jersey clients would be referred to Carey Olsen.
Maples' Jersey office had arguably been its least successful of its expansion offices outside of Cayman - it had never succeeded in becoming a recommended Jersey firm in any of the mainstream legal directories. Its closure, together with Carey Olsen expressly eschewing expansion, represented the first pause on the general progression that had preceded it amongst leading offshore firms towards multi-jurisdictionalism.
[edit] External links
[edit] Sources
- Tolley's International Initiatives Affecting Financial Havens (2001), ISBN 0-406-94264-1
[edit] Footnotes
- ^ The Bahamas only formally became independent on 1 January 1973, but the election of the Pindling government in 1967 on a pro-indepedence platform is often cited as the beginning of the jurisdiction's decline as an offshore financial centre.
