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Message: <blockquote data-quote="Andrei Radu" data-source="post: 212427" data-attributes="member: 36777">In international transactions, parties normally have a right to choose (i) which courts have jurisdiction over any disputes arising from the transaction; and (ii) which country's laws should govern the transaction. Normally, parties prefer that the two coincide, in that each court is best equipped to judge a dispute on the substantive laws of the jurisdiction it operates in, but it sometimes does happen for the two to separate (e.g. English courts to have jurisdiction to hear the case but to have to judge the claim based on French law). Now, to come back to your question - essentially, London is a legal hub for cross-border M&A because the majority of major of non-US-centered international transactions are governed by English law and are under the jurisdiction of English courts. This is so firstly for historical reasons, with the UK having been the dominant power in international commerce in the 18th and 19th centuries, which led to English law becoming the dominant system of laws chosen to govern international contractual relations. The second and more important reason is that English law is greatly respected by businesses for its focus on predictability and commerciality (particularly when compared to rival civil law systems), and English courts are greatly respected for their political independence and general approach to solving disputes in a commercially-sensible manner. English courts are also seen as being highly experienced in dealing with cross-border cases, as they have been the dominant historical forum they have been heard in - creating a virtuous cycle. How is all this relevant for cross-border M&A? As explained, companies and banks generally like the predictability of English law, and anyway have a general preference to choose English law to govern the transaction if they are to include an English dispute resolution clause. Thus, in practice, English law is the status quo choice of governing law for cross-border M&A even when the deal has no connection whatsoever to England. If English law is going to govern most international M&A deals, buyers and sellers will have to get English commercial law firms to advise them in the transaction. If you have an interest in working on as many of these transactions as possible, this will naturally make London a very attractive place for you to practice law in.</blockquote>

Verification: Our company is called, "The Corporate ___ Academy". What is the missing word here?

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