Maples and Calder
Encyclopedia
Maples and Calder 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. 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, 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 Partners and Legal 500 directories.
In 2008, Maples & Calder was crowned Firm of the Year - Offshore Law Firm of the Year at the 2008 ALB SE Asia Law Awards.
At the 2008 ALB China Law Awards, Maples & Calder was crowned:
Maples & Caler was awarded Deal of the Year - Equity Market Deal of the Year at the2008 ALB Hong Kong Law Awards.
However, January 2008 Maples and Calder announced a formal "best friends" relationship with Channel Islands firm, Carey Olsen
,http://www.legalweek.com/Articles/Article.aspx?liArticleID=1087953http://www.eubankers.net/eu_article.php?articleid=13218 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.
Cayman Islands
The Cayman Islands is a British Overseas Territory and overseas territory of the European Union located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica...
. As at January 2008, it is also the largest offshore law firm
Offshore magic circle
The offshore magic circle refers to a number of law firms practicing in offshore jurisdictions which are considered to be amongst the leaders in the field. The term was adopted as an imitation of the more well-recognised London Magic Circle law firms...
in the world.
It was originally founded by Jim MacDonald and John Maples
John Maples
John Cradock Maples, Baron Maples is British politician. A member of the Conservative Party, he served as a Member of Parliament representing Lewisham West from 1982 to 1992 and Stratford-upon-Avon from 1997 to 2010...
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
Offshore financial centre
An offshore financial centre , though not precisely defined, is usually a small, low-tax jurisdiction specializing in providing corporate and commercial services to non-resident offshore companies, and for the investment of offshore funds....
which was precipitated by the independence of the Bahamas in the 1960s. 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
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, Dublin, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and the British Virgin Islands
British Virgin Islands
The Virgin Islands, often called the British Virgin Islands , is a British overseas territory and overseas territory of the European Union, located in the Caribbean to the east of Puerto Rico. The islands make up part of the Virgin Islands archipelago, the remaining islands constituting the U.S...
.
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 Partners and Legal 500 directories.
In 2008, Maples & Calder was crowned Firm of the Year - Offshore Law Firm of the Year at the 2008 ALB SE Asia Law Awards.
At the 2008 ALB China Law Awards, Maples & Calder was crowned:
- Deal of the Year - IT/Telecommunications Deal of the Year
- Deal of the Year - China Deal of the Year
Maples & Caler was awarded Deal of the Year - Equity Market Deal of the Year at the2008 ALB Hong Kong Law Awards.
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
Carey Olsen
Carey Olsen is a law firm in the Channel Islands with offices in Jersey and Guernsey with approximately 125 lawyers. It was created in 2003 by the merger of Jersey firm Olsens and Guernsey firm Carey Langlois....
,http://www.legalweek.com/Articles/Article.aspx?liArticleID=1087953http://www.eubankers.net/eu_article.php?articleid=13218 which in the press was presented as a response to a potential merger between Mourant du Feu & Jeune and local competitors Walkers
Walkers (law firm)
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.- History :The firm was originally founded by Bill Walker Walkers is a Cayman Islands based offshore law firm. Although the...
. 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.
External links
Sources
- Tolley's International Initiatives Affecting Financial Havens (2001), ISBN 0-406-94264-1