By Martin Morris
Legal firm DLA Piper plans to tap financial and property companies looking for advice.
DLA Piper, the global legal services company, has confirmed that it plans to expand its operations in the United Arab Emirates to exploit what it sees as opportunities to provide crisis advice to financial and property firms.More specifically, it will be targetting companies seeking advice on restructuring and liquidity management due to the financial turmoil, a managing partner said on Monday.
The firm, with offices in 66 countries, set up operations in Abu Dhabi in April with a team of 27 lawyers and now advises government entities, sovereign wealth funds and foreign companies in the UAE capital.
"We will be acting for banks, restructuring their loans, distressed funds and developers whose construction firms are having liquidity problems," Stephen Webb, the firm's managing partner in Abu Dhabi, told reporters.
On Sunday the company announced the official opening of its Oman office.