The Legal 500

Overview

Lebanon has been the Middle East country of choice for many foreign investors, thanks in part to its free market economy. The recent increase in three-way investment between Kuwait, Bahrain and Lebanon is an added attraction, partly because of a dearth of cross-border legal services. Improved economic conditions in Lebanon are increasing the work available to its lawyers although the market reports that smaller firms in particular are suffering the effects of the global recession which have been slow to filter through to the region.

Firms say legal work is a little slower and because of recent political tensions and the ongoing threat of war, and businesses ‘tiptoed’ into investment in 2010. But, despite continuing political uncertainty, the legal market has seen developments, particularly in the banking and finance sector. A number of legislative projects are still pending which, when passed, are expected to bring significant reform, particularly in these sectors.

The legal market reports that 2010 was a tough year for many firms and for clients. However, the property market is looking positive, and sectors that are relatively active are banking and finance, aviation and real estate work. M&As are also on the increase because of recession-induced restructuring of business organisations.

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