Davinder Singh, Chief Executive Officer of Drew & Napier LLC, comments on Singapore’s legal market. Singapore plans to invite foreign law firms to apply for a second round of qualifying foreign law practice licenses in the second half of the year.
Low Tuck Kwong, the founder of Indonesian coal producer PT Bayan Resources, told a Singapore court he had been defamed in letters to the regulator and stock exchange in Jakarta by his former friend Sukamto Sia.
Sembcorp Marine Ltd. said it refused to be “blackmailed” into offering a higher price than earlier agreed for the remaining 15 percent of PPL Shipyard it didn’t already own, Sembcorp’s lawyer said at a trial in Singapore.
While Fabrice Tourre may have found himself fabulous when devising intricate transactions and presuming he survived their collapses, the e-mail trail he left behind was a less-than-marvelous repetition of history.
Bayerische Hypo-und Vereinsbank AG and SEB AB appealed a Singapore court ruling that Asia Pacific Breweries Ltd. wasn’t responsible for $57 million in loans taken out by a former executive to fund his gambling addiction.
Yeap Wai Kong, one of China Sky Chemical Fibre Co.’s former independent directors, is challenging the Singapore Exchange in court, arguing the bourse was wrong in publicly reprimanding him in December.
Medley Opportunity Fund Ltd.’s $20 million bet on an auto-financing business in Indonesia soured when the money vanished in 2007. Five years later, the fund managed by New York-based Medley Capital LLC is still trying to find a way to recover its stake, while avoiding Indonesian courts.
A group of 213 investors in Singapore lost a bid to recoup S$18 million ($14 million) of losses tied to Lehman Brothers Holdings Inc., with an appeal court upholding a lower court ruling that dismissed their claim.