LEGAL ISSUES IN COMMODITIES
Holman Fenwick Willan is one of the only firms to be ranked number 1 in shipping and commodities by the leading legal directories. We field a large global team of first rate lawyers. We blend freight and commodities and blend commodities, trade finance and regulation. The client of tomorrow wants his or her commodity lawyer to know or have access to many more aspects of commodities than historically. The resources of HFW cater fully for this.
“There are probably five events that have shaped my professional life,” explains Perrott. “First and
foremost, sitting in proximity to the creative minds of Cargill traders was a baptism of fire but also inspiration.
“Secondly, was acting for Cargill against Greenpeace and subsequently acting for an oil major facing
harassment both at a plant, but also at a director level. We got to know the Harassment Act rather well and in both cases sought English injunctive relief.
“The other major events in my professional life I have experienced at HFW, the first being the Red Bean saga – imports into China were rejected by the authorities because of the presence of dyed or red beans. Dozens of ships were on the water, full of cargo with nowhere to go. This saga lasted several years.
“The last two events related to the crash of 2008. As is well known, Armada suffered deeply because
of the crash and ultimately went into judicial management. We represented the now famous G8 Group of Creditors that brought about the judicial management and enabled the creditors to have some say in the judicial running of the company. We advised on all aspects from publicity to options.
“Finally, as is quite well known, we acted for Pioneer Freight Futures and then subsequently Grant
Thornton, the liquidators. Pioneer enjoyed, at one time, by far the largest Asian FFA book, the great and the good were listed and we had to assist Pioneer in a particularly distressed period and ultimately assist the liquidator in obtaining significant recoveries from very many entities.”
Current activities now centre on trade sanctions, the Ukraine crisis, the repossessing of vessels by banks and a variety of derivatives products that are being challenged as unfit for purpose.
“In returning to private practice, I have been fortunate to build a business that straddles the globe and covers an A to Z of commodities. I have never lost sight of the fact that when a client entrusts a problem, it is a privilege to be able to assist. I am fanatical about client service, ensuring that all our advices, strategies and actions are commercially tested and realistic in focus.”
in regulation and regulation of commodity derivatives trade and commodity finance. Reed Smith believe they are unique in this sector. “We are the only major global law firm with a strong position
in this market which functions as a single partnership (rather than a Swiss Verein) and which has a market leading shipping group. Shipping remains an important practice for any firm which aspires to be meaningful and a full-service firm in the energy and natural resource sector. Unlike many firms our global, single partnership model enables our partners to combine expertise, global reach and scope – without some of the internal financial issues that distract away from client service in some firms,” insists Evagora. “Understanding the implications of sanctions, whether they
are being tightened or relaxed is extremely important. The latest events in Ukraine, such an important grain basket will, no doubt, bring its own commercial and legal challenges. International trade regulation is also an essential currency of any trading entity. Legislative forces such as the European Commission play a big part in the smooth (or otherwise) path for trade, and working with clients to ensure they are
Brian Perrott, HFW “The client of tomorrow wants his or her
commodity lawyer to know or have access to many more aspects of commodities than historically”
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