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International Edition

Ex-Freshfields partner joins Stephenson Harwood as aviation head

Strephenson Harwood has recruited a new global head of aviation with the hire of Paul Ng from Freshfields Bruckhaus Deringer. Ng, who joins Stephenson Harwood today (19 March), spent ten years at the magic circle firm before his departure in January. He is an English, US and Singapore qualified lawyer and has experience advising in Hong Kong, Shanghai, Beijing and Singapore.In his new role, he will be primarily based in Stephenson Harwood's Singapore office but will divide his time between Singapore and the firm's Chinese network.
2 minute read

International Edition

Dentons makes Singapore return with office launch

Denton Wilde Sapte has reopened in Singapore less than five years after it pulled out of Asia entirely with the closure of four offices in the region. The City firm's new Singapore base has been open since December, it has emerged, with the firm receiving its licence to practise that same month. In addition, Dentons has entered into an association with Singapore firm Global Law Alliance that will see the pair cross-referring work on an exclusive basis.
2 minute read

International Edition

China blocks Coke deal; Skadden and Freshfields advise

In one of the first major tests of China's recently-adopted antitrust law, the country's government has rejected a $2.4bn (£1.7bn) bid by Coca-Cola to acquire Chinese beverage maker Huiyuan Juice Group. If it had been permitted to proceed, the deal would have been the largest-ever takeover of a Chinese company by a multinational. The closely-watched deal saw Coca-Cola represented by Skadden Arps Slate Meagher & Flom, whose team was led by Nicholas Norris in Hong Kong and Gregory Miao in Shanghai. Huiyuan instructed Freshfields Bruckhaus Deringer.China's Anti-Monopoly Law came into affect in August 2008. Broadly modelled on Western competition laws, the measure also takes into account proposed mergers' impact on "national economic development".
2 minute read

International Edition

Hong Kong sees first conviction for inside trading

Hong Kong's first criminal trial for insider trading has resulted in the conviction of a former investment banker and four other defendants. Ma Hon Yeung, a former vice president at BNP Paribas Peregrine Capital, passed confidential information to his girlfriend and three family members about the proposed privatisation of Egana Jewellry & Pearls, a matter on which he was working. The four tippees all traded in Egana shares before the company announced its privatisation plans in July 2006.The five defendants will be sentenced on 1 April.
2 minute read

International Edition

UK firms to miss out as Korea green-lights liberalisation

UK law firms will not benefit from moves to open up the Korean legal market to foreign law firms due to the lack of a trade agreement between the two countries. The Korean authorities last week (2 March) gave a green light to the first step in a three-stage process to open up the local legal market. The process will effectively allow foreign law firms to set up representative offices in the country, however, it only applies to those countries with an active free-trade agreement (FTA) with Korea.
2 minute read

International Edition

Freshfields names new Asia managing partner

Freshfields Bruckhaus Deringer has appointed a new Asia managing partner with London corporate partner Simon Marchant set to take up the position. The firm has been without a managing partner in the region since Perry Noble stepped down from the role in 2006.Marchant (pictured) is a senior figure in Freshfields' City corporate department, and in recent years has been head of both the firm's energy and natural resources sector group and its telecoms, media and technology group. He has also been a member of the firm's partnership council for the last three years.
2 minute read

International Edition

Offshore: Singing in tune

There can be little doubt that the story of Singapore's economy has been one of resounding success - a progressive, free market economy which has benefited greatly from a highly-skilled and well-educated workforce, a welcoming environment for foreign business talent and a highly-developed and well-respected legal system and business framework.The Singapore Government has been quick to identify the strengths and weaknesses in the economic composition of the jurisdiction and has encouraged and successfully attracted a large number of financial institutions, private equity funds, hedge funds and law firms to establish a presence in the country. In many cases, these institutions have been attracted by the possibility of using Singapore as a hub for their ambitions and operations within the Association of Southeast Asian Nations (ASEAN) and in India.
7 minute read

International Edition

White & Case splits with Singapore ally

White & Case, one of the six international firms granted a licence to practise Singapore law in December, has shelved plans to merge with local alliance partner Venture Law. "We have agreed with Venture Law to bring our Singapore formal law alliance with them to an end," White & Case said in a statement. "Our commitment to Singapore, and our plans for the Qualifying Foreign Law Practice licence that we were recently awarded, are unchanged."The firm declined further comment, though a source briefed on the matter confirmed that White & Case's plans no longer included a merger with the 10-lawyer Venture Law.
2 minute read

International Edition

HSBC offshore legal team in Malaysia gets go-ahead

HSBC has established an offshore legal team in Malaysia following a successful pilot scheme last year.The bank piloted the scheme last February, sending a team of four lawyers to its global service centre in Kuala Lumpur to assist the team in the UK, with the Malaysian group largely dealing with volume legal queries.Following the trial, the bank is establishing a permanent team based in the region, with five additional lawyers joining the function. The bank is one of the first financial institutions to establish an offshore legal team.
2 minute read

International Edition

Barlows appoints first-ever chief operating officer to build up Asia infrastructure

Barlow Lyde & Gilbert has appointed its first ever Asia chief operating officer (COO) to oversee the firm's practice in the region. The top 50 UK law firm has hired Lisa Foley from Bestford Hong Kong to take up the post, which will see her developing Barlows' Asian and regional infrastructure by working with partners across the Hong Kong, Singapore and Shanghai offices. She will be based in Barlows' Hong Kong office but will also work closely with the firm's chief executive, Clint Evans, and London COO David Jabbari.
2 minute read

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