The Legal 500

Within Corporate and commercial, Walkers is a second tier firm,

Walkers 'responds in a timely manner, even when there are tight timelines'. The practice saw a high volume of transactions using Cayman structures for the financing and leasing of aircraft, jets, vessels and yachts, and was involved in several cross-border acquisitions. The structured finance and capital markets team increased its share of the US CLO market, and also worked on several Latin American exchange offerings, as well as fresh issuances of debt, including acting as Cayman counsel on over $10bn of debt issued by Petrobras' finance subsidiary Pico in 2010 and 2011 alone, marking the largest ever corporate bond offerings by a South American company in the international markets. The 'solution-focused' Philip Paschalides 'provides clear and unequivocal advice', and Nicole Pineda 'simply makes things happen'. Rob Jackson and former Jersey managing partner Antonia Hardy are well respected. Former global chairman Wayne Panton retired.

Within Dispute resolution, Walkers is a second tier firm,

Walkers represented the First Defendant together with seven other defendants, in defending a $9.2bn claim, the largest piece of litigation pending in the Cayman Islands. It also acted for hedge fund Camulos in defending proceedings and successfully seeking an injunction to restrain the presentation of a winding up petition by an investor. Global managing partner Diarmad Murray is focused on commercial fraud, banking, building, insurance and general commercial litigation, Colette Wilkins is 'a real class act', and Neil Lupton is noted for complex restructurings, contentious insolvencies and distressed situations.

Within Insurance/reinsurance , Walkers is a third tier firm,

Walkers acts for insurance managers, advising on the establishment of local insurers, captives, rent-a-captives and other insurance products, and has been involved in catastrophe bond issues. Global chairman Grant Stein is a key contact.

Within Investment funds, Walkers is a first tier firm,

Providing 'timely and commercial advice', Walkers's group houses a hedge funds department and private equity funds team. The practice advises asset managers, fund promoters and institutional investors, such advice extending beyond fund formation to all legal aspects affecting the continuing operations of hedge funds, including specialist advice on fund management and contentious issues. The private equity group is experienced in all aspects of private equity fund structures, and acts on fund formations and the formation of alternative investment vehicles, as well as on fund raising structures, secured lending, due diligence, M&A, IPOs and other exit strategies. Rod Palmer is the global investment funds head, and managing partner Mark Lewis is a senior investment funds partner. Former BVI managing partner Heidi de Vries, Ingrid Pierce and Caroline Williams and recently promoted partner Julian Ashworth 'always strive to provide workable advice that leads to a positive business outcome'. 'Leading light' Rolf Lindsay is 'recommended for his international awareness and knowledge'. Jonathan Tonge relocated to the Jersey office.

Within Legal market overview,

For some clients, Maples and Calder is 'without question the best law firm in the Cayman Islands', with international offshore practices Appleby, Conyers Dill & Pearman, Ogier Mourant Ozannes and Walkers all aggressively chasing. Campbells is, overall, the strongest of the local firms, with Solomon Harris also a serious contender.

Within Trusts/private client, Walkers is a second tier firm,

Walkers's 'great depth of knowledge of the trust industry is extremely valuable'. Andrew Miller heads the firm's global trusts group, specialising in non-contentious trust work. Miller recently acted for an UHNW Russian individual on the establishment of a restricted trust license trust company. Anthony Partridge acts in non-contentious trust and cross-border succession matters, with particular expertise in resealing foreign grants of probate in the Grand Court of the Cayman Islands.