The latest IFLR1000 rankings reinforce Harneys’ long standing leadership position in the BVI and rapid rise to a solid tier two firm across its other jurisdictions of Cayman and Cyprus, and in Hong Kong. IFLR1000 was released in October 2016 and is an annual guide to the world’s leading financial and corporate law firms that publishes rankings based on interviews with clients and market participants.
Harneys BVI: ‘the hands down market leader’
Harneys continues to be ranked as BVI leader by IFLR, for both funds and financial and corporate work. Featuring almost twice as many ranked lawyers than any other firm in the BVI, Harneys is commended as “unquestionably and consistently at the top of the curve”. One US law firm client describes Harneys as “the only choice for corporate governance”, adding,“they produce high quality work and instil a vast amount of confidence”.
Harneys Cayman: ‘strong commercial and technical ability which is on a par with the larger firms in Cayman’
In Cayman, Harneys continues to cement its position,and has rapidly closed the gapbetween its legal practice and other firms in the jurisdiction. Harneys is now a recognisedtier two firm for both its funds and financial and corporate practices. The firm’s success is due in part because of its businessmodel, which has been recognised by clients who commented: “the top Cayman firms all provide excellent legal advice but the team at Harneys is nimble and flexible whereas the other firms can be more institutional... The Harneys team is cost effective and experienced.”
IFLR highlights key growth drivers in Harneys Cayman as the firm’s hire of former Applebyglobal head of funds, Ian Gobin and relocation of Cayman partner Lewis Chong to Vancouver as the firm increases its presence in the key North America markets; as well as the firm’s strong footprint in emerging markets.
In Hong Kong, Harneys holds its tier two ranking forfinancial and corporate work, and moves up to tier two for investment funds work. Harneys’ Asia Managing Partner Jonathan Culshaw is listed as a leading lawyer. The firm’s work on Kaisa’s$2.4 billion debt restructuring is highlighted.
Harneys’ Cyprus office retains its tier two ranking for financial and corporate work, with highlights including its work on the landmark creation of the Turquoise Variable Capital Investment Fund, which is the first ever EU-approved Iran-focused alternative investment fund. Partners Pavlos Aristodemou, Nancy Erotocritou, Demetris Loizides, and Emily Yiolitis are all recognised as leading lawyers.
Harneys has demonstrated marked growth in recent years and was named The Lawyer’s Offshore Law Firm of the Year for 2016. The firm has also picked up a number of other industry awards, including in Asia, where it was named Best Offshore Law Firm - Client Service at the HFM Asia Hedge Fund Services Awards, and in Europe, where it was named Best Offshore Law Firm - Client Service at the HFM European Hedge Fund Services Awards.