WongPartnership LLP

Our Head of International Arbitration practice, Koh Swee Yen, S.C. has been appointed as a member of the ICC International Court of Arbitration. Swee Yen will serve a three-year term commencing on 1 July 2024.   ICC is one of the world’s leading arbitral institutions, with more than a 100-year history. To find out more, please click on the link https://lnkd.in/e2pdvXgn    We congratulate Swee Yen on her significant appointment. #ICC Arbitration

Organised by the Perkumpulan Ahli Dewan Sengketa Konstruksi (Institute of Dispute Board for Construction) and Society of Construction Law (Indonesia), the upcoming PADSK – SCLI 2024 International Conference will see our Partners sharing their expertise on dispute avoidance and resolution in large-scale construction projects.   As a gold sponsor of this event, the conference themed “Synchronising the application of FIDIC Contracts with specific related project country’s regulation to avoid disputes” promises to be an insightful and informative one, with a particular emphasis on the FIDIC suite of contracts which remain at the forefront of large-scale construction projects across the globe.   Our Head of Energy, Projects & Construction and International Arbitration Partner Peng Cheng Tay will speak on Day 1 about “The Importance of Particular Conditions to Avoid Disputes”. On Day 2, Md Noor E Adnaan, our Partner in the Firm’s Indonesia and Restructuring & Insolvency Practices will share his thoughts on “Alternative Dispute Resolution by Mediation, Arbitration and Dispute Avoidance & Adjudication Board”.   We are looking forward to catch up with our valued clients, colleagues and friends from Indonesia and the region during the Conference. Reach out to our attending Partners Tay Peng Cheng, Adnaan Noor and Vishi Sundar if you wish to meet us there.   WongPartnership's Construction group has enjoyed top-tier rankings and accolades by leading legal publications such as Chambers and Partners, Legal 500 and IFLR1000 from as early as 2003. The group has also been consistently recognised as an “Outstanding Firm” for Construction and Infrastructure in Singapore by asialaw Profiles, and “Construction Firm of the Year” by both Benchmark Litigation and Asian-mena Counsel.

The Cybersecurity Act 2018 of Singapore (Act), which provides for the protection of critical information infrastructure (CII) and the regulation of cybersecurity service providers in Singapore, was recently amended by the Cybersecurity (Amendment) Bill (Bill No. 15/2024) (Bill). The amendments will come into operation on a date to be notified by the Minister for Communications and Information.   The Bill introduces significant changes to the Act, which will affect various stakeholders in the technology and cybersecurity ecosystem, including vendors, subcontractors, and service providers providing services to support CII or essential services. The amendments address recent technology developments and changes in industry practices. The regulatory coverage of the Act will also be extended to address evolving cybersecurity risks. The Bill therefore represents a timely update to the cybersecurity regulatory framework in Singapore. Our Head of Intellectual Property, Technology & Data Group Chung Nian Lam and Partner Kylie Peh summarise the key changes introduced by the Bill in this update. Click on the link below to view the full update.

Climate change is the new reality in which businesses operate. Companies have to take steps to address the direct and indirect impact of climate change on their businesses. This task invariably falls on directors who are charged with steering and safeguarding the business and interests of their companies. Against this backdrop, it is pertinent to consider the potential liabilities that a director could be exposed to.   In the Singapore Institute of Directors’ latest Q3 2024 Bulletin, our Co-Head of Sustainability & Responsible Business Teck Wee Tiong and Associate Shawn Ang contributed an article exploring three areas where such liabilities could arise: in business decision-making, disclosure and reporting, and greenwashing. The article also provides practical tips and guidance on what directors can and should do to discharge their duties and mitigate potential liability in these areas.   Click on the link below to read the full article.

In our latest issue of Law Watch, we cover recent deals and matters that WongPartnership was involved in, our perspectives on certain significant decisions of the Singapore High Court, as well as other updates which include legal highlights and recent authorships. These include: 1. [Deal highlight] Sale of Eu Yan Sang International Ltd by its Majority Shareholder to a Consortium comprising Rohto Pharmaceutical Co., Ltd. and Mitsui & Co., Ltd for S$694.5 million 2. [Analysis] Singapore Court of Appeal Clarifies Law on Breach of Confidence 3. [Analysis] Restraint of Trade Clauses: Protecting Legitimate Proprietary Interests 4. [Analysis] Podiatric Trade Mark Claim Falls Flat: Google Advertisements Did Not Result In Likelihood Of Confusion Our Head of Asset Management and Funds Kah-Keong Low, Co-Head of Mergers & Acquisitions Sing Yee Chan and Partners Fi Ling Quak and Chiang Yuan Bo were involved in the deal, and our Intellectual Property, Technology & Data Group Chung Nian Lam and Partner Kylie Peh, Co-Head of Employment Jenny Tsin, Commercial & Corporate Disputes Partners Qi-Yang Chang and Jiamin Leow, shared their insights in this update. Click the link below to read the full update.

Issues of fraud and corruption can often arise in the context of international arbitration. Such issues may relate to the subject matter of the dispute or the arbitral proceedings themselves.    This guide titled “Practical Insights on Fraud and Corruption” by Wolters Kluwer, authored by our Head of International Arbitration Koh Swee Yen, S.C. and Alexis Foucard of Clifford Chance, with assistance from our International Arbitration Partner Daniel Gaw and lawyers Divya Harchandani and Ba Duong "Donny" Trinh, provides an analysis of how fraud and corruption allegations can be raised at different stages of arbitration, from the arbitral proceedings to the enforcement of the award, and how courts and tribunals have approached such allegations.   The guide further highlights the emerging consensus against fraud and corruption as a matter of transnational public policy that arbitrators can apply, regardless of the governing law.   The full guide can be accessed via the link below.

At the height of the start-up funding boom in 2021, venture capital firms were injecting capital into promising start-ups with valuations that only seemed to move in one direction – up and to the right. Fast forward three years, against the backdrop of a macroeconomic slowdown, the period of fast and loose money was replaced with tempered expectations and a cautious outlook. With venture capital money becoming more selective, issues and problems that may not previously have been apparent have surfaced. In this article, our Co-Head of WPGrow: Start-Up / Venture Capital Kyle Lee and Associate Jacob Low set out observations on three major trends: down-rounds and their implications on anti-dilution rights, pay-to-play provisions and their pitfalls, and fraud and other governance concerns and potential remedies. This article first appeared on Singapore Law Watch and was edited for this publication. Click on the link below to read the full update.

Our Deputy Head of Commercial & Corporate Disputes and International Arbitration Partner Wendy Lin was invited to speak at a panel session “Fraud and the State”, jointly organised by Commercial Dispute Resolution (CDR), Peters & Peters and Serle Court Chambers during London International Disputes Week (LIDW). Together with fellow panellists Jason Woodland of Peters & Peters, Elizabeth Jones KC and Zahler Bryan of Serle Court Chambers, Oluseye Opasanya SAN of Olaniwun Ajayi , and moderator Andrew Mizner of CDR, the panel discussed practical considerations involved when acting for and against a State including the challenges involved in disclosure, dealing with allegations of corruption, how to get ahead and manage these challenges, as well as recent developments in state immunity and enforcement of judgments and awards against States.

The Monetary Authority of Singapore (MAS) recently updated its Guidelines on Fair Dealing and has expanded the scope of the fair dealing principles to cover all financial institutions (“FIs”) and the financial products and services which they offer to their customers. The Guidelines aim to raise standards of fair dealing and to improve the experience of customers dealing with FIs. MAS has indicated that it expects FIs to incorporate these principles at various stages of a product's life cycle or services rendered.   The revised Guidelines set out five key fair dealing outcomes: (1) Customers have confidence that they deal with FIs where fair dealing is central to the corporate culture of the FI; (2) FIs offer suitable products and services for their target customer segments; (3) Customers are served by competent representatives; (4) Customers receive clear, relevant, and timely information that accurately represent the products and services offered and delivered; and (5) FIs handle customer complaints in an independent, effective, and prompt manner. The revised Guidelines are accessible here: https://lnkd.in/gJxeASMw. Our Financial Services Regulatory Practice has advised on a broad range of issues that concern Financial Institutions. Reach out to our Financial Services Regulatory Practice Partners Elaine Chan, Rosabel N., Jia Hui Chan, Sion Yoong Tian, or find out more about our practice here: https://lnkd.in/gjZdpQw.

Our world remains volatile and uncertain, with political and economic crises on every continent. However, the cooperation and cross-border work that continues to emerge through the global restructuring profession, makes a material contribution to a more stable and predictable future for businesses and the people that depend on them.   Our Restructuring & Insolvency Partner Kai Yun Tan was a part of a panel in the “Hot Topics and Emerging Trends” session at the INSOL International San Diego Offshore Meeting, where she shared about emerging trends in restructuring and insolvency globally, including the possibility of regulator activity and mass tort claims driving insolvency proceedings and liability management exercises along with developments in Singapore jurisprudence on cryptoassets, and difficulties arising in the cross-border restructuring of REITs.   Kai Yun was joined by fellow panellists Adam Goldberg from Latham & Watkins (chair), Stephen Alexander from Mourant, Glen Ho from Deloitte and Susan Moore from Dentons.