Watson Farley & Williams set to end Singapore JLV
The firm entered into a JLV with Asia Practice in 2011
July 12, 2016 at 05:31 AM
2 minute read
Watson Farley & Williams (WFW) is set to end its joint law venture (JLV) in Singapore with local firm, Asia Practice LLP.
The JLV launched in 2011 with a combined firm of 12 partners and 44 fee earners. Asia Practice was a banking, corporate and litigation boutique with five partners.
In a statement, the firm said WFW and Asia Practice had "mutually agreed" to terminate the venture.
A spokesman said: "WFW will continue to provide the high quality service to its clients it is known for and ensure their local law needs continue to be met through our network of relationships and contacts."
WFW has been in Singapore since 1998. By ending its JLV the firm is bucking a recent trend of international firms gaining local capabilities in the city-state.
In November last year, Herbert Smith Freehills formalised its alliance with local best friend firm Prolegis under a Formal Law Alliance (FLA). The move followed Withers, which entered an FLA with Singapore's KhattarWong in February of the same year.
However, there are also several local partnerships that have ended in recent years.
JLVs between Linklaters and Allen & Gledhill; Freshfields Bruckhaus Deringer and Drew & Napier; Clifford Chance and WongPartnership; and Allen & Overy and Shook Lin & Bok, have all ended. Clifford Chance has since entered an FLA with Cavenagh Law in 2012.
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