News

RHTLaw Taylor Wessing adds Hong Kong capabilities with addition of Hong Kong law firm H.M. Chan & Co

RHTLaw Taylor Wessing LLP (“the Firm”), the sixth largest law firm in Singapore has boosted its presence in Hong Kong and Greater China following an official association with local firm H.M. Chan & Co in Hong Kong.

Tuesday, July 12, 2016

RHTLaw Taylor Wessing adds Hong Kong capabilities with addition of Hong Kong law firm H.M. Chan & Co

RHTLaw Taylor Wessing LLP (“the Firm”), the sixth largest law firm in Singapore has boosted its presence in Hong Kong and Greater China following an official association with local firm H.M. Chan & Co in Hong Kong.

Tuesday, July 12, 2016

Case Update

Siam City Law Offices Limited has attended to some interesting matters in the past few months. Below are some of the major deals/matters performed by the team:

1. A major deal involving an aerospace supplier/manufacturer based in the USA and a leading premium built-to-measure warehouse, distribution centre and factory developer, both in Thailand and the South East Asia region, in establishing a company/factory for the manufacturing of aerospace parts in an industrial estate in Thailand.

Tuesday, July 12, 2016

RHTLaw Taylor Wessing’s Merger with Vietnamese Law Firm PBC PARTNERS highlights commitment to the ASEAN Economic Community (AEC)

The merger with Vietnamese based law firm PBC PARTNERS & RHTLaw signals the Firm’s drive towards a seamless regional legal platform through integrating brand, technology and knowledge across ASEAN. Move in line with establishment of the ASEAN Economic Community (AEC), a major milestone in the regional economic integration agenda in ASEAN, offering opportunities in the form of a market of US$2.6 trillion and over 622 million people.

Friday, July 1, 2016

Planning for Brexit

Timing

To start the formal withdrawal process the UK government will need to serve notice on the European Council. That would set in motion a two year period for a withdrawal agreement to be agreed. Withdrawal itself would take place at the end of the two years (unless agreement were reached with the European Council before then or the UK and European Council agreed to extend the deadline – requiring agreement of all other 27 member states.).

It is unclear when notice would be served. This may become clearer in the coming days and weeks as the dust settles around the immediate political consequences. Prominent figures in the Leave campaign indicated before the referendum that they saw merit in delaying service of the withdrawal notice, in effect to improve the UK’s negotiating position in an initial period and to allow time for progress to be made in negotiating a new trade deal with the EU and other arrangements.

For example, on 15 June 2016 pro-Leave cabinet minister Chris Grayling (leader of the Commons) was reported as saying that Britain should not immediately serve notice to leave but instead request the EU to consider a more informal process, intended to tie up a trade deal by late 2019. He went on to say that he hoped the UK would be out of the EU by the end of 2019.

In the meantime the UK is expected to continue to have the benefits and obligations of an EU member, albeit presumably with reduced influence.

Implications for the UK leaving the EU would be considerable and far reaching and include:

  • EU treaties, directives, regulations and rulings of the European Court of Justice would cease to apply to the UK, unless their effect was specifically preserved by UK national law.
  • UK citizens would no longer have the rights of EU citizens.
  • The rights of EU citizens in the UK would need to be redefined. EU courts would no longer have any jurisdiction over the UK.
  • The UK would no longer be entitled to participate in agencies such as the European Supervisory Authorities in relation to financial services or the European Data Protection Board and probably a number of other EU working groups and bodies in which it currently participates.
  • EU agencies currently located in the UK, such as the European Banking Authority and the European Medicines Agency may need to relocate to an alternative location in the EU. EU funding for many organisations and projects would face uncertainty and need to be reviewed.
  • The UK would cease to benefit from the EU’s trade agreements with other countries.

In practice Brexit will require negotiation of a wide range of new arrangements with the EU and other countries. This may well result in the UK participating as a non-member in aspects of the EU on terms very similar to those currently in place, whilst other aspects are likely to be markedly different. Similarly, negotiations with non-EU countries could play out in a number of different ways. Taken together, this amounts to a wide range of possible outcomes, which will become clearer over time.

What businesses need to consider

Initial questions you may wish to explore in the immediate aftermath of the referendum, as part of planning for an eventual Brexit, might include the following:

  • How dependent are we as a business on the EU market and what proportion of our business comes from the EU?
  • Do we rely on EU “passporting” for provision of services or on other forms of mutual recognition of standards or qualifications?
  • Is legislation important to our business likely to change in the event of Brexit?
  • What regulatory changes are likely to occur in our sector? Is regulatory relaxation in our sector/industry a possibility?
  • To what extent might changes to international trade agreements affect us e.g. duties and tariffs?
  • Should our strategy on currency risk and hedging change?
  • What impact will uncertainty have on growth rates?
  • What is our exposure in relation to the financial health of our counterparties and the future financial health of the UK and its credit rating?
  • What are our options for an investment, merger or joint venture and should it be in the UK or in the EU?
  • Do we depend on grants or funding from the EU? How might that be impacted in the event of Brexit and therefore impact us?.
  • What impact will Brexit have on freedom of movement within the EU and how would it affect our ability to attract and retain the best talent from the EU?
  • Will Brexit cut across the effectiveness of any of our important contractual arrangements e.g. pricing, territorial restrictions, regulatory oversight?
  • Will Brexit affect the way in which we can protect or exploit intellectual property?
  • What should we be communicating internally and externally on the subject?

How we can help

We can help and advise you as the UK prepares for Brexit. We can help you navigate what, for most, will be a period of considerable remaining uncertainty

If you are an existing client, please speak with your regular contacts. If you a new client, we will be happy to assist.

 

 

  

For more information please contact:
Abdul Malik
Direct: +65 6381 6985
Email: malik.ad@rhtlawtaylorwessing.com

Saturday, June 25, 2016

RHTLaw Taylor Wessing Partner Nizam Ismail featured in Bloomberg, Channel NewsAsia and TODAY

RHTLaw Taylor Wessing Partner Nizam Ismail was featured in Bloomberg, Channel NewsAsia and TODAY.
 
All three reports were in relation to the Monetary Authority of Singapore’s (MAS) orders to shut down BSI Bank in Singapore. BSI Bank breached anti-money laundering rules and failed to conduct due diligence on high-risk accounts and monitor suspicious customer transactions.
 

Monday, May 30, 2016

RHTLaw Taylor Wessing congratulates Managing Partner Tan Chong Huat on being listed as a Client Choice 2016 winner

RHTLaw Taylor Wessing congratulates Managing Partner Tan Chong Huat on being listed as a Client Choice 2016 winner under the category of “General Corporate”.

Chong Huat was recognised for his excellent client care and quality of service. A factor contributing to this ranking was based on clients’ testimonials, indicating his ability to add real value to their business above and beyond the other players in the market.                                                                                                               

Tuesday, March 1, 2016

Siam City Law Offices Limited (SCL) advised the committee members of a luxury condominium in Bangkok.

Siam City Law Offices Limited (SCL) advised the committee members of a luxury condominium in Bangkok in relation to the opposition and request for the revocation of a summons to the Extraordinary General Meeting (EGM), as well as resolutions passed in said EGM, in addition to the opposing of a wrongful appointment of the Committee members; and to refrain from registration of the new/additional committee members at the competent Land Office.

Monday, February 29, 2016

Siam City Law Offices Limited advised an accommodation renting company on the unique issue of the “sale of a 30-day package”.

Siam City Law Offices Limited advised an accommodation renting company on the unique issue of the “sale of a 30-day package” to their clients. The important aspect of this matter is that the sale of the membership package stay for 30 non-consecutive days at the property is being interpreted as ‘operating a hotel business’, and the renting company is clearly not in that business.

The applicable law relating to this issue is the Hotel Act (the “Act”) and the Ministerial Regulations (the “Regulations”). 

Monday, February 29, 2016

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