Bill Holland

Bill Holland , a partner in the New York office of Chadbourne & Parke , describes one recent case in which the firm represented a foreign investor in a Russian company.This investor was prevented from attending the annual shareholders' meeting in which a new general director was elected.The court invalidated the new director's appointment and all his subsequent decisions.These are important precedents for the development of a rule of law in a situation where local law wasn't up to speed and the judge had no experience with the subject matter , says Holland.

In many cases US firms are working directly with governments in the emerging markets of Asia , Latin America , and Eastern Europe to draft laws , from constitutions and civil codes to commercial laws.According to a Washington-based attorney who requested anonymity , You just can't beat the experience of helping to frame a commercial code in getting a foothold in a market that may blossom into an important business center someday..

But while US lawyers have been ahead in many areas of the global game , especially in commercial matters , the competition is stiffening from UK and German firms.