Benefits of Membership

LAWorld is a dynamic, modern and technically efficient international legal network.  Our members tell us that the benefits of membership are:
  • The immediate advantage of being internationally connected - with fast access to expert cost effective legal advice anywhere in the world. Your clients will be favourably impressed by the international capabilities you can now offer.
  • The opportunity to receive and make referrals to and from responsive lawyers that you meet and get to know as colleagues, who are bound together by a quality code of practice.
  • Our 55 members are currently located in the following 44 countries: Albania, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Ecuador, England, Finland, France, Germany, Greece, Hungary, India, Israel, Italy, Japan, Malaysia, Mexico, Morocco, Netherlands, Nigeria, Poland, Portugal, Romania, Russia, Singapore, Slovak Republic, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates and United States of America.  If LAWorld does not have a member in a jurisdiction that is important to you, it is likely that at least one of our members will be able to recommend a suitable local lawfirm.
  • The use of the LAWorld logo and brand to increase your profile with your clients
  • Annual and regional meetings to discuss issues of common interest, to enhance your international business connections and initiate sound marketing and practice development ideas within a non-competitive legal environment. In recent years the Annual Conference has rotated in member cities around the world:  2012 Rio de Janeiro, 2013 Zurich, 2014 Hong Kong, 2015 Washington DC and 2016 will be in Cape Town, between 6-8 April 2016.  Members connect several times a year: at the annual conference, regional meetings, at the annual International Bar Association conferences and via telephone conferences.
  • Membership of LAWorld is useful in helping to attract and retain high quality staff, as employee exchanges can be arranged with other LAWorld law firms around the globe.
  • An established Code of Practice adopted by all member firms Support of an English speaking administrative and marketing Executive Office with contacts around the world
  • Benefit from inclusion in a modern and technically sophisticated website with a website optimisation programme which has given LAWorld a top Google position for "international legal networks".
  • Participation in marketing and business development initiatives including:

- A website that provides an international legal profile for your firm

- introductions to referrer business organizations during each annual conference

- mutual education and support at conference with talks about local legal/business topics; practice development and marketing topics.

- members brochure

-members on-line blog

- LAWorld marketing material including website entry, newsletters, inclusion in the Martindale-Hubbell International Law Directory, HG Org etc

- Business and Marketing Plan with several new initiatives to support our members

- Internal member news bulletins - keeping you in contact with members regularly

- English editing services for articles, websites etc.

- A younger lawyers network, which encourages the more junior lawyers in your firm to become actively involved in developing social and business relationships with other younger lawyers from around the world.

LAWorld News

Payfoll Funding: How to stay ahead of the queue of creditors

An ever-present challenge facing financiers is how best to secure repayment of the money that they lend.  Traditionally, taking security over assets has been viewed as one of the best protections available.  However, through the use of “payroll funding”, it is possible for an otherwise unsecured lender to obtain for itself priority for repayment that can even outrank secured lenders.

The problem

Normally, if a borrower company becomes insolvent any net realisations from its “circulating” assets (which generally include inventory, debtors, and bank accounts) will be distributed firstly to employees for their wages and entitlements, then to secured creditors, and only then to ordinary unsecured creditors.

This means that a financier looking to provide new funding to a company, even if granted security, will normally rank behind employees and all existing secured creditors of that company.  This will often leave the new financier with too great a risk of non-payment to be able to provide funding, especially if the borrower is already in financial difficulty.

The opportunity – payroll funding

However, there is a way for financiers to jump to the head of the queue of creditors.  If a financier provides funding for the specific purpose of paying a borrower’s employees (pursuant to an appropriately-structured financing agreement), the financier will take over the priority of the employees paid using that funding.

This creates a mutually-beneficial opportunity.  The borrower can receive much-needed cash flow while the funder receives a right of repayment outranking not only ordinary unsecured creditors, but even outranking secured creditors to the extent of the company’s “circulating” assets.

Despite these benefits, payroll funding is still a largely untapped market in Australia, providing significant opportunities for financiers looking to expand their range of services, so long as they take care to obtain experienced legal advice regarding the structuring of their payroll funding agreements.

Stephen Polczynski, Managing Partner  Tel:  +61 (0)2 9234 1501     Email: spolczynski@plawyers.com.au

Business News

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Thu, 30 Jul 2015 17:43:43 GMT
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Consumer spending bolsters U.S. second-quarter growth
Thu, 30 Jul 2015 17:32:26 GMT
WASHINGTON (Reuters) - U.S. economic growth accelerated in the second quarter as solid consumer spen...
Facebook shares dip as results fail to impress
Thu, 30 Jul 2015 17:31:49 GMT
(Reuters) - Facebook Inc's shares fell as much as 5 percent on Thursday, after the company's weak ad...
Wall St. recovers as data points to growing economy
Thu, 30 Jul 2015 17:24:02 GMT
(Reuters) - The S&P 500 almost recovered the day's losses while the Dow and Nasdaq were higher in af...

Upcoming Events

LAWorld Annual Conference (Cape Town) from 5pm on Tuesday the 5th of April, 2016 to 2pm on Friday the 8th of April, 2016

Europe/Middle East Regional Meeting and Lawyers Next Generation (Bratislava) from 5pm on Friday the 5th of February, 2016 to 5pm on Saturday the 6th of February, 2016

North and South America Regional Meeting (Miami) from 6pm on Wednesday the 11th of November, 2015 to 2pm on Friday the 13th of November, 2015

Europe/Middle East Regional Meeting and Lawyers Next Generation (Milan) from 5pm on Friday the 18th of September, 2015 to 5pm on Saturday the 19th of September, 2015

See All Events
 
LAWorld
Email: mail@laworld.com