I received the Lower Secondary Education Certificate (GCSE‘s Equivalent) at *** Gymnasium in 2011 , which includes 10/10 grades in English, Lithuanian and Physics, and 9/10 grades in Mathematics and History. In 2015, I graduated from *** Gymnasium, where I received the Maturity Certificate. ItThis includes 10/10 grades in English, Russian, and Chemistry,; 9/10 grades in Mathematics and History,; and 8/10 grade in Lithuanian. My state exam's‘ results are 98%/100% in English, 93%/100% in Lithuanian, and 84%/100% in History. My first -year law modules at the University of Warwick are Introduction to ****, **** and Tort Law. My first -year grade is expected to be 2:1 .
What particularly attracts me to pursuing my career in a City law firm is that commercial lawyers need to think like business people if they want to understand their clients’ needs. In March, while attending the Head Start Programme at Shearman & Sterling LLP, I participated in an in-depth session on a M&A deal, which gave me an insight into the work of a trainee solicitor in this type of transaction. This programme confirmed my interest in commercial law.
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Therefore, my ambition to be involved in the business world, and my enjoyimengt of interactions with people and working in a team while pursuing the same goal, drives my desire to work in a City law firm.
Reading news on the volatility in oil prices sparked my interest to review this commercial issue. Crude oil price is now about $47/barrel, which is a significantly lower the price than it was 20 months ago. PThe plunge in oil prices, which stemmed from both rising supply and weaker global demand, is having significant economic consequences around the world. In particular, it has negative impact ton oil producers. The economy of Russia‘s, a major oil producer, economy is facing a potential meltdown. OThe oil price crash leads Venezuela to default. US states reliant on oil productiong, such as Wyoming, Oklahoma, North Dakota, Alaska, and Texas, suffer from cheap oil, too. Saudi Arabia, Iran, Iraq, Libya, and Qatar are also feeling the effects of low oil prices. Confusion in oil sector affects not just the oil producers, but also its suppliers, car dealers, and other businesses, including the law business, as well. M&A activity in the oilfield service sector drastically decreased in 2015, which caused a fall in demand for legal advice on M&A. However, while oil prices are low, oil producers may look to merge in order to reduce their costs. Furthermore, oil companies may not be able to repay the loans they took out when oil prices were much higher,; thus, demand infor debt reorganisation can occur. Therefore, the companies may seek legal advice in refinancing or restructuring. For instance, refinancing would enable them to take out a new contract at better terms to repay a loan, whereas restructuring with renegotiation of a loan contract, for example, would extend the payment date, which would enable them to avoid default. In addition, lawyers may find their dispute resolution skills in demand because oil companies can look to suspend or terminate projects or adjust pricing. Thus, disputes concerning the interpretation of contractual provisions can inevitably become more common. Also, the risk of disputes with off-takers who have entered into supply agreements that are no longer commercially attractive may increase. Therefore, due to the plunge in oil prices, commercial lawyers facre wfacithng challenges, but significant opportunities are present, too.