Analysis of information sources in references of the Wikipedia article "Maples Group" in English language version.
During last year's US presidential campaign, Mr Obama referred to a building in the Cayman Islands that, he said, supposedly housed 12,000 US–based corporations. "That's either the biggest building in the world or the biggest tax scam in the world," he said. The building Mr Obama talked about is Ugland House, the head office of the international law firm Maples and Calder. Situated on the outskirts of Georgetown, it is actually the address of almost 19,000 companies. For some, the building has come to symbolise the drain on the economies of the big nations, a view rejected by the law firm.
The "offshore magic circle", a term given to the top firms based in the Caribbean and the Channel Islands that specialise in helping clients move money to low-tax countries, include Ogier, Mourant Ozannes, Walkers, and Maples and Calder, as well as Appleby. "All offshore firms are terrified about this," said one partner at a UK-based law firm, speaking privately. Another said: "The offshore firms are in complete company lockdown." Jonathan Riley, head of tax at accountancy firm Grant Thornton, added: "There will be some concern the heavens will come down on [these firms]. There will be collateral damage for the offshore centres."
The "offshore magic circle", a term given to the top firms based in the Caribbean and the Channel Islands that specialise in helping clients move money to low-tax countries, include Ogier, Mourant Ozannes, Walkers, and Maples and Calder, as well as Appleby. "All offshore firms are terrified about this," said one partner at a UK-based law firm, speaking privately. Another said: "The offshore firms are in complete company lockdown." Jonathan Riley, head of tax at accountancy firm Grant Thornton, added: "There will be some concern the heavens will come down on [these firms]. There will be collateral damage for the offshore centres."
Lord Maples first partnered with fellow lawyer, James MacDonald, in the 1960s and later with Douglas Calder to form the partnership of Maples and Calder, now a leading international law firm. His contributions and impact on the legal profession in the Cayman Islands were notable.
He highlighted the case of Ugland House, the Cayman Islands head office of the law firm Maples & Calder, where he said 12,000 US-based corporations were housed. "That's either the biggest building in the world or the biggest tax scam in the world," he said.
AN INTERNATIONAL corporate and finance law company which advises international clients on the laws of global tax havens – including Ireland – is to create 75 new jobs in Dublin over the next three years.
