Posted on 14th May 2021 — Arjun Patel
Departments to date: IPTech, Structured Capital Markets and Private Equity and Funds (current team).
7:00am: I usually go to the gym in the morning before work as a good way of clearing my mind before I start my day.
8:30am: The first thing I do is check my emails to see whether there is anything I need to urgently respond to. Next I prepare my to do list for the day so that I know what tasks I have ahead of me and can plan my day accordingly. I was recently involved in a transaction which closed last week involving seven different countries hence my role as a Trainee Solicitor is to start collating the executed documents in a completion bundle so that we can send this over to our client for their records. My first task is to put together an index detailing all the documents which have been signed and the parties to the agreements so that when I compile the documents they are in a logical order.
10:45am: Aside from my completion bundle I’m also involved in reviewing submissions from local counsel for a due diligence report. Our client is considering selling their business and in order to begin the process they have asked us to produce a report which can be shared with prospective buyers.
On this particular deal we’re working with five different firms across Europe and my role as a Trainee Solicitor is to input their comments into the due diligence report and provide a first review. At Baker McKenzie a large proportion of the deals are multi-jurisdictional which makes my job incredibly varied and dynamic. It’s also great working on these deals as you begin to develop relationships with lawyers in different countries.
1:00pm: Every few weeks the corporate team have a training session over lunch which is a great way to learn more about a particular topic that you may not have had exposure to. This week’s session is on Warranty and Indemnity insurance which is crucial to any deal. Either the buyer or seller may obtain this in a transaction to cover against financial loss that could occur from a breach of warranty and/or claims under certain indemnities given by the seller in a share or asset purchase agreement.
2:00pm: Having produced the first draft of the completion bundle index I have a call with the Associate I’m working with to run through some of my questions. Having started my training contract remotely I frequently have calls with my work providers as a way of checking in and it is sometimes easier to speak through any queries you may have rather than sending an email.
3:00pm: As part of our spring Vacation Scheme, I have volunteered to be a supervisor on a pro bono project the firm has been working on for the last year which is the Legal Street Atlas. https://www.streetchildren.org/legal-atlas/map/. I have an initial catch up with the Vac Scheme participants to run the through and answer any questions they may have.
3.30pm: I check my emails and have seen that some of the local counsels have sent in an updated submission to their report and I begin reviewing them to see if there are any red flags they have raised. I update the report accordingly and send over my comments to the Associate on this matter. In turn I email local counsel with our follow on queries as a result of the updated submission.
4:30pm: I catch up with some of the Trainee Solicitors over Zoom as part of our ‘Social Bubble’ initiative that was created over lockdown. Each group has a mixture of Trainee Solicitors from different intakes and is a great way to meet people and talk about how our week has been.
5:00pm: I receive a call from my supervisor on an urgent research task that he would like assistance with . It involves looking at our clients articles of association to consider whether they can proceed with a particular course of action. I send over a summary of my findings and also some case law analysis that may prove useful to the client.
6:30pm: Earlier in the week, the team was instructed to work on a potential deal involving a new infrastructure transaction with one of our clients. I emailed the Senior Associate on the deal and asked if I could be involved. We have an initial scoping call in which they provide the background to the transaction and the proposed timeline for the deal. I’m tasked with reviewing the term sheet and producing a diagram outlining the exit provisions so that our client can easily assess the options available to them.
8:00pm: I review my to do list for the day to see if there are any outstanding matters and update my work providers on the progress of the deals I’m working on. I’m informed that tomorrow morning we are due to receive some new documents that can be added to my completion bundle and I make a note of this for my to do list tomorrow.
8.30pm: I clear my inbox, update my timesheets and log off for the day!
Arjun Patel, third-seat Trainee Solicitor at Baker McKenzie.