THE INTERNATIONAL ASSOCIATION OF PRACTISING LAWYERS AGM HOSTED IN LONDON
BY NITEN CHAUHAN Partner Restructuring & Insolvency / International
conflicts with the law. In such circumstances can we say that the law still has primacy, particularly where there might be fraud, illegality and other disputes, or where there are consumer issues? The answer from law-makers and legal gatekeepers has been a resounding “yes”, supported by a flurry of government papers on how to regulate blockchain technologies and cryptocurrencies, and what the legal precedents might be. Whilst there are questions over access to redress, and enforcement processes generally, it is important to note that crypto assets, be they coins or other types of non-fungible tokens (NFTs), have been recognised in the UK as being property assets and accordingly practitioners are able to seek legal redress to recover and secure digital assets in much the same way as other types of assets. This is important, for example, to family practitioners in contested proceedings needing to raise questions about assets; for private client lawyers who are drafting wills and other documents for clients; or those advisors who are undertaking asset-tracing enquiries, and many more. Though decentralised technologies pose a real challenge to the bureaucracy and jurisdictions of traditional legal systems, Harold Benjamin's active networks, such as the IAPL, help us to share global best practice and keep pace with the latest developments in international commercial law - ensuring we will always understand what our clients need today and what they will need tomorrow. But as well as grappling with the latest challenges facing commercial law, attendees at the IAPL event also understood the importance of strong relationships and mutual support. Some two years after the global COVID pandemic, IAPL lawyers strengthened their ties and shared legal insights and practices late into the evenings during a host of social gatherings. It is this forward thinking and collaborative approach that current IAPL President Niten Chauhan believes brings tangible benefits to our company’s clients.
The International Association of Practising Lawyers is a network with members around the world, working to build a mutual understanding of overseas legal systems and customs, a global perspective on legal matters and collaboration amongst experienced professionals. Niten Chauhan, our Head of Restructuring and Insolvency, is the current President and board member of the organisation. Explaining the benefit this network brings to our practice he said: “Harold Benjamin can act for clients from most countires who may require legal services in the UK or recommend UK clients to solicitors in other countries because we have a global reach through our international networks.” Harold Benjamin was pleased to have hosted the IAPL for its annual conference, a long-anticipated event that brought together nearly 20 lawyers from countries ranging from Switzerland, through to the United States. The weekend long conference kicked off with a tour of Inner Temple and Temple Garden, including a visit to Temple Church, famous for having featured in the best-selling book and film “The Da Vinci Code”. Fittingly, barristers’ chambers 4 Stone Buildings, presented a keynote discussion centered on the legal issues raised by cryptocurrencies and blockchain and the global prominence of these technologies. Boosted by Elon Musk to a loyal online audience, officially adopted by Venezuela and with even the former Chancellor of the Exchequer tasking the Royal Mint with delivering an ‘NFT for Britain’, the impact of these technologies in commercial processes, finance and the law urgently need to be understood. Whilst some argue that blockchain technology offers mechanisms for both participation and independence, its self-regulating characteristics and ideals means that there are inherent
THE LEGAL CORNER MAGAZINE | ISSUE 001 SEPTEMBER '22 | ACROSS BORDERS HB 20
Made with FlippingBook - Online magazine maker