While international financial centres have long played an important role in complex financial transactions, instructions used to be a one-way street.
Traditionally, instructions came from onshore firms and were carried out by offshore firms. In the course of the last several years, especially since the beginning of the credit crisis, that reality has changed. Onshore and offshore lawyers work more closely than ever before. Onshore lawyers receive instructions from offshore lawyers concerning matters of English or New York law affecting offshore vehicles.
