"People think the stock market went down: in fact in the space of a week, freight rates fell off a cliff." That is how one source described the sudden end to a prolonged period of prosperity for the shipping industry, and the beginning of its misfortunes.
Two firms head the shipping and maritime legal market. Between them, Holman Fenwick Willan and Ince & Co produce 49 of the nearly 400 individuals we feature, and each are represented in eight countries in the following pages.
It is perhaps no exaggeration to say that of all 30 areas of commercial law covered in our publications, none has been so badly affected by the global recession as capital markets.
One firm stands pre-eminent in our research. Linklaters sees 28 of its partners selected for inclusion, and its presence in 13 of the 54 countries we cover is also market-leading by a significant distance.
Several firms are listed in multiple countries. Allen & Overy LLP has a strong contingent in the following pages with a total of six lawyers.
Emma Notfors takes a closer look at the issues facing insolvency & restructuring lawyers.
September 2008 proved to be a defining month for the United States economy as the largest state rescue plan in history was launched to support the country's biggest mortgage companies Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), which between them lend or guarantee upwards of US$5 trillion.
Lawyers from the US have once again dominated our research and New York took the lion's share of the votes, with an impressive 43 practitioners in the guide.
It is not possible to buy entry into any Who's Who Legal publication
Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.