The financial crisis and the downturn have thrown up big opportunities for international lawyers nimble enough to keep up with events. But the most innovative lawyers in the past year have offered clients more than technical legal solutions; they have been flexible in their thinking and provided much-needed services in areas from project management to lobbying.

The credit crunch created difficulties whose severity is deeper than anything experienced even by the most gnarled law firm partners. In spite of having helped facilitate many of the transactions underpinning the financial crisis, lawyers have had to change direction as sharply as any member of the business community.