Legal Industry News & Trends Recap: July Week 2

Legal Industry News & Trends Recap: July Week 2

Legal Industry News & Trends Recap: July Week 2

1. NTUC to be Designated a “Politically Significant Person”

The National Trades Union Congress (NTUC) in Singapore is being designated as a “politically significant person” (PSP) under the country’s foreign interference law. This designation is due to NTUC’s close relationship with the ruling People’s Action Party (PAP). As a PSP, NTUC must disclose political donations of S$10,000 or more and its foreign affiliations annually. This measure aims to prevent foreign interference. NTUC has 14 days to respond to this designation. The Ministry of Home Affairs clarified that this is a pre-emptive measure and not a result of any wrongdoing.

Read the full article about NTUC’s designation under FICA.

 

2. People Moves

i. Singapore: Orrick, Fervent Chambers and K&L Gates

Orrick: Orrick Herrington & Sutcliffe bolstered its energy capabilities in Singapore with the addition of two partners from A&O Shearman:

  • Michael Tardif is a highly regarded project finance advisor with extensive experience in Indonesia and Asia. Tardif specialises in complex financing transactions. He has represented major energy companies, top-tier sponsors from Japan, Korea, and the Middle East, regional lenders, and export credit agencies. His expertise spans conventional power, renewable energy, infrastructure, and mining sectors.
  • Ari Bessendorf, who worked with Tardif for six years, specialises in cross-border project development and finance, particularly in solar, wind, biomass, and carbon markets.

With these additions, Orrick’s Singapore office will have seven energy and infrastructure lawyers. Tardif’s addition aligns with Orrick’s strategy to build a strong energy transition team in Singapore to enhance its offerings in Asia.

Fervent Chambers: Singapore-based law firm Fervent Chambers announced key leadership changes.

  • William Wan, who has over three decades of experience in North America and Indochina, was appointed managing director to lead the firm’s expansion and growth. Wan specialises in multinational anti-corruption, land reversion, oppression of minorities and defamation cases.
  • Clarence Lun returned as head of dispute resolution and international arbitration. Lun specialises in high-value shipping, oil and gas, engineering, construction, and infrastructure disputes. His notable achievements include defending a billionaire against a S$208 million claim and setting aside a multi-million-dollar arbitration award for an Indian company.

K&L Gates: K&L Gates Straits Law, the Singapore branch of the US law firm K&L Gates, bolstered its corporate team with the addition of partners David Kuo and Meraj Noor from DLA Piper.

  • Kuo has 20 years of experience in the US, Hong Kong and Singapore and has served as a partner at Allen & Overy (now A&O Shearman) and Milbank. He focuses on mergers and acquisitions (M&A), private equity, and corporate finance, especially for Asia-based clients and the real estate, technology and energy sectors.
  • Noor has 16 years of experience and served as deputy chair of the global India group at DLA Piper. Noor has practised in Dubai, India and Singapore and focuses on South Asia, particularly India-related transactions and cross-border corporate deals.

This move aligns with Singapore’s role as a hub for major corporates and outbound investments. The hires mark K&L Gates Straits Law’s fourth and fifth lateral partner additions this year, expanding their Singapore office to 17 partners.

Read the full article about Orrick’s energy partner from Shearman.

Read the full article about Fervent Chambers’ MD and disputes head.

Read the full article about K&L’s corporate partners from DLA.

 

ii. Hong Kong: Withers, Walkers and Dorsey

Withers: Withers welcomed private client and tax partner Laurence Ho back to its Hong Kong office following his stint at Loeb & Loeb. Ho, who left Withers in 2017, brings a team comprising a special counsel, a senior associate, and an associate. Ho specialises in international tax, trust, and estate planning for individuals and families connected to the US, including tax-efficient structuring and compliance. He previously worked at Stephenson Harwood and spent nearly a decade at Withers. The Hong Kong team now comprises 15 US tax practice fee-earners, including five partners across Hong Kong, Singapore, and Tokyo. This makes Withers the firm with the largest number of US-qualified private client and tax lawyers in the Asia Pacific.

Walkers: Walkers added Natalie Curtis as a partner. Curtis previously led the financial services regulatory practice at Herbert Smith Freehills in Singapore and worked at the law firm for 17 years. She specialises in financial service regulations and fintech in Southeast Asia and has over 20 years of experience in regulatory and compliance matters. These include anti-money laundering, financial services licensing, and cybersecurity. Her clients included virtual asset-trading platforms and technology companies. Curtis is qualified in Hong Kong, Australia, and New Zealand.

Dorsey: US law firm Dorsey & Whitney added Rachel Han as a partner to its capital markets team in Hong Kong. Han, who comes from Dentons, brings over 10 years of experience advising China-based companies and underwriters on capital markets transactions, including IPOs, offerings, disclosures and compliance work. She has worked on numerous Hong Kong Stock Exchange listings for companies like Zhihu and Nissin Foods. Han will focus on equity capital markets, corporate finance, and M&A transactions across various industries. Her addition comes as Hong Kong’s capital markets experience a downturn, but expectations for a robust IPO pipeline in the latter half of 2024 remain high.

Read the full article about Withers’s private wealth partner from Loeb & Loeb.

Read the full article about Walkers’s financial services partner from Herbert Smith.

Read the full article about Dorsey’s capital markets partner from Denton.

 

iii. China: DOCVIT

DOCVIT: DOCVIT Law Firm added  Wang Libo, a real estate expert, as a partner in its Shanghai office. Wang specialises in real estate and construction, corporate legal counsel, data compliance governance, and ESG. She has rich experience with large real estate and construction groups, and state-owned enterprises. Before joining DOCVIT, she worked at Landing Law Offices. This appointment is part of DOCVIT’s recent partner-level hires.

Read the full article about DOCVIT’s Shanghai real estate partner.

 

3. Business Moves: Rajah & Tann and Allen & Gledhill Expand in China

Despite some global law firms withdrawing from the China market, Singapore’s two largest law firms, Rajah & Tann Asia and Allen & Gledhill, are expanding their presence in the country. The move aims to capitalise on the trend of Chinese companies investing overseas and it comes. Rajah & Tann Asia will open a representative office in Qianhai, Shenzhen, and focus on international arbitration, construction, technology, media and telecoms. Allen & Gledhill has opened an office in Shanghai to assist Chinese firms in navigating Southeast Asia’s business landscape. These expansions contrast with foreign firms that have reduced their operations in China and Hong Kong.

Read the full article about the two Singapore firm’s expansion in China.

 

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Image Sources:

  • Straits Times
  • Huawei
  • Loeb & Loeb
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