Deregulation needed for Asia's legal market

Peter Cornell, Global Managing Partner of Clifford Chance talks about his firm''s plans for Asia, the need for de-regulation and how lawyers always make money.

How is the firm doing in these difficult times

Cornell We have a financial year that goes from May to April, which we have just finished. Last year was a good year and although profits were down, we actually grew our revenues over the previous year. So without sounding complacent, it was a good performance. It showed how well hedged we are as a business both in terms of geography and practice areas. The obvious areas that were robust were litigation, restructuring and insolvency and to a degree, securitization. We think we had a good year under the circumstances.

So markets go up, markets go down, but the lawyers always make money...

Well, as I...

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