UAE lawyers spot Iran opportunities
Patton Boggs and other law firms have been increasing their marketing to UAE-based businesses by highlighting opportunities in Iran now that sanctions have been slightly relaxed.
Patton Boggs teamed up recently with a defence industry group to run a forum in Abu Dhabi about the easing of the US and EU sanctions. Washington-based Eren Law held a joint seminar with Bayat Legal Services of Dubai on the same topic. Akrivis Law Group, another law firm from Washington, has followed suit as well. The UAE is a good place for the briefings as thousands of Iranian traders have chosen to base themselves there. Hal Eren of Eren Law, speaking of the current US relaxations, said: 'This is an incremental step within an incremental step. The U.S. government likes to take small steps in this regard.' Source: Wall Street Journal
Meanwhile, back home, Patton Boggs is to close its office in Newark, New Jersey, after turnover dropped 12 per cent in the office. The firm has suffered from a loss of income from the insurance sector, after completing a lot of work in the area which related to the September 11 attacks. Source: ABA Journal