In his welcome address to the Grand Court today, Cayman Island’s Law Society (CILS) President, Alasdair Robertson, focused on the importance of the passing of the Legal Practitioners Bill (LPB) for the Cayman Islands’ legal profession and the country.

Following a warm welcome to all new judicial appointments, Mr. Robertson explained how the Grand Court address normally covers work undertaken by members of CILS, in particular to developing, reviewing and amending existing legislation for the benefit of the community and the jurisdiction. However, due to the significant amount of work and time recently spent on the LPB, Mr. Robertson announced that the the focus of his speech would be on the importance of this key piece of legislation.

Taking stock of the current legal practice’s status in Cayman, Mr. Robertson explained to the Grand Court that the profession is an ‘engine of growth’ for the financial service industry and that it is vital to grow and develop, ensuring continued opportunities not only for Cayman’s legal profession, but also the entire financial service industry and the island itself. He explained how modernising the legal system would promote Cayman’s overall economy as a result.

“Since the Legal Practitioners Law was bought into effect in 1970, we have grown from 20 attorneys on the roll to over 500, with well over 200 of those being Caymanian. We now have over 30 member firms as the growth has continued over the last two decades, indeed one only has to look at the growth in the number and complexity of the cases heard in this honourable Court with judgements here being used around the world to know what a valuable asset the legal profession has become to these Islands.” said Mr. Robertson.

“The challenge for us now is to ensure we continue this growth and therefore the opportunities for Caymanian lawyers, aspiring future lawyers and just as important, the large number of non-law support staff,” he said. “We should also not forget that as a key part of our industry here, a vibrant and stable legal profession is also key to other industries such as accountancy, fiduciary services, marketing and IT.”

Mr. Robertson also explained how a modern and balanced LPB was long overdue and that a recent survey had seen an overwhelming majority of CILS members voting in favour of supporting this piece of legislation.

“Over twenty Cayman Islands law firms, representing over 85% of the members of CILS, have come together to voice their support of the LPB for the future of the legal industry in Cayman.” he said.

Mr. Robertson also highlighted the importance of the LPB in its current form, describing the draft as “the best attempt to bring a balanced modern law into effect. A balance between protectionism and the need to compete globally, a balance that permits growth and secures and enhances opportunities for Caymanians in the future, a balance that keeps control of the practice of law overseas within Cayman but allows Cayman to compete on a global basis.”

Mr. Robertson’s address turned personal, when he announced that his son was studying to become a lawyer and that the passing of the Bill was an important step in protecting Cayman’s future lawyers. “I find my focus very firmly on the next generation and ensuring that they have those opportunities,” he said.

Mr. Robertson also highlighted the importance of the larger, multi-jurisdictional law firms in opening up opportunities in both Cayman and overseas. “These firms offer articles and employment to Caymanians once qualified, creating opportunities for Caymanians to be part of the legal profession without having to go overseas. In addition, the largest 14 multi-national law firms in the Cayman Islands employ 134 of the 200 Caymanian attorneys, not to mention that over 45 of these lawyers have had the opportunity to be seconded to the overseas offices. The operation of overseas offices increases job opportunities in the legal profession here, rather than taking away work from Cayman.”

Mr. Robertson concluded his speech by thanking the Vice Presidents of the Law Society for their valuable contribution to CILS, namely Antonia Hardy, James Bagnall and Kevin Butler and Huw Moses in his role as secretary, before seconding the motion to open the Grand Court for 2017 and wishing the Lordship, Judges, court staff and fellow members of the legal profession a happy and prosperous new year.

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The Cayman Islands Law Society (“Law Society”) is the professional association that represents the entire private sector legal profession of the Cayman Islands. Membership is open to persons who are admitted as Cayman Islands attorneys-at-law. The Law Society currently has over 400 members.