Legal Industry News & Trends: Aug Week 1

1. Regulations

A Victory for Foreign Lenders in Indonesian Debt Restructuring

In a recent ruling by an Indonesian court, private international lenders are allowed to participate in PT Visi Media Asia’ debt restructuring. This unprecedented move overturns a previous rejection, and highlights both the strengths and areas for improvement within Indonesia’s debt restructuring mechanism, the PKPU. However, challenges remain, including concerns about claim admittance, notification processes, and the underutilisation of creditors’ committees.

Takeaway: This decision indicates a growing recognition of foreign creditors’ rights in Indonesia, which could encourage more international investment. However, further reforms to the PKPU process are necessary to fully realise the potential benefits.

Read the full article about Indonesia’s debt restructuring ruling.

2. Business Moves

i. KL Gates MD Leaves to Establish His Practice in Singapore

Sreenivasan Narayanan, a seasoned legal expert with 38 years in litigation, arbitration, mediation, and white-collar crime, has established his own firm, Sreenivasan Chambers, in Singapore. Narayanan previously led Straits Law and K&L Gates Straits Law after their merger in 2019. The move came after Narayanan had engaged in practice for nearly four decades and led the merged firm for five years. Joining him at Sreenivasan Chambers are:

• Counsel Jason Lim, who has experience as a senior associate at K&L Gates Straits Law and an associate at Straits Law.
• Sathya Narayanan, who has worked at Drew & Napier and Shook Lin & Bok.

This new firm will specialise in complex civil and commercial litigation, white-collar defence, and corporate advisory work, including regulatory compliance and corporate governance.

Read the full article about Sreenivasan Chambers’ team members.

Read the full article about Sreenivasan Chambers.

ii. Fangda Sets Up its First Overseas Office in Singapore

Fangda Partners opened its first overseas branch in Singapore and appointed Watson Farley & Williams’s Ivy Liu as a partner. This new office is registered to practice foreign law and provide limited Singapore law-related services. Fangda, headquartered in Shanghai, now has offices in Beijing, Guangzhou, Shenzhen, Nanjing, and Hong Kong.

Ivy Liu, a corporate specialist with 16 years of experience in Singapore, Thailand, and Shanghai, is qualified in PRC and New York. She focuses on advising Chinese companies in the energy, construction, and mining sectors on investments in Southeast Asia. Liu previously led the China desk at DFDL and expanded Watson Farley & Williams’ business in the technology sector.

Takeaway: The move mirrors the trend of Chinese law firms expanding internationally, with Grandall Law Firm opening a branch in Malaysia this year and Han Kun Law Offices setting up an office in Singapore last year.

Read the full article about Fangda’s Singapore office.

iii. Baijus Sets Up Offices in Beijing and Shanghai

Chongqing-headquartered Baijus Law Firm opened new offices in Beijing and Shanghai, bringing its total domestic branches to nine.

• The Beijing office is led by Liu Kangkang and comprises a team of six partners and 15 lawyers. It will focus on the Internet, culture and media, film and entertainment, intellectual property (IP), criminal litigation, and civil and commercial affairs.
• The Shanghai office is led by Lu Bijing and comprises six partners and 20 lawyers. It will focus on criminal defence, finance and insurance, real estate, securities, civil and commercial litigation/arbitration, government legal counsel and IP.

Read the full article about Baijus’s offices in Beijing and Shanghai.

3. People Moves: Han Kun, Wang Jing and AMT

Han Kun: Han Kun Law Offices added partner Leong Chuo Ming, a counsel, a senior associate, and an associate to its Singapore team. Leong, a former partner at Withers KhattarWong, specialises in corporate practice, including mergers and acquisitions (M&A), equity capital markets, financial regulatory services, and fund projects. He is also well-versed in the new variable capital corporate structures in Singapore and regulatory developments in fintech. This move comes after Han Kun’s establishment of its Singapore office last year and reflects the trend of clients globalising their operations by relocating to Singapore.

Wang Jing & GH: Wang Jing & GH Law Firm added commercial dispute resolution expert Li Qian to its Shenzhen office as the executive director. Li, who previously served as a partner at TianTong Law Firm, will lead the firm’s dispute resolution practice in the region. This move is part of Wang Jing & GH’s ongoing strategy to bolster its capabilities through high-level hires.

AMT: Japanese law firm Anderson Mori & Tomotsune (AMT) added SRPP’s corporate specialist Natira Siripun as a partner to its Thailand office. Natira has extensive experience in M&A, joint ventures, labour and employment, real estate, corporate reorganisations, and general corporate and regulatory matters. She has advised Thai and international clients on local and cross-border transactions. Before joining SRPP, Natira worked at several other prominent Thai law firms, including Weerawong and Chinnavat & Partners. The Bangkok office, led by partner Akitaka Anzai, now has 11 lawyers, including three partners.

Read the full article about Han Kun’s team from Withers KhattarWong.

Read the full article about Wang Jing & GH’s disputes partner.

Read the full article about AMT’s corporate specialist from SRPP.

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Image Sources:

• Law.asia