When the relationship between the firms began in 2008, hopes were high that reforms allowing foreign practices to enter India’s market were in the works. However, the country remains closed to overseas lawyers, who are not even allowed to have offices in the country, reports Law.com.
The move follows a similar break between magic circle firm Clifford Chance and Mumbai-based AZB & Partners, which started a relationship in 2009, but split at the beginning of last year.
Restricted ability
In a statement, Allen & Overy and Trilegal said: ‘The lack of progress towards legal sector liberalisation in India has led both firms to conclude their existing arrangement is restricting their ability fully to exploit the growing opportunities in India.’
Jonathan Brayne, the London-based head of Allen & Overy's India practice, pointed out that the break up was amicable. ‘We have the highest opinion of Trilegal and we look forward to continuing to work with them when the opportunity presents itself, but also to collaborating with other Indian law firms,’ he said.
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