May 6, 2021
Introduction https://www.inhousecommunity.com/wp-content/uploads/2021/05/In-House-Counsel-Pandemic-Insights.mp4 Now that we’re in Q2 of 2021, and 2020 is firmly in the past (but the hangover remains), it’s time to put the “Year of the Coronavirus” into perspective. Few companies emerged from last year unscathed. But as the old saying goes, no one becomes rich in the good times – wealth is generated in the bad times. Legal firms across the Asia Pacific and MENA weathered the Covid-19 storm and worked tirelessly to keep their clients satisfied. And judging by the scuttlebutt out there, nearly everyone in the profession was run off their feet in 2020 performing work ranging from M&A, Insolvency, Restructuring, and HR disputes to personnel rearrangements and advising on critical multi-million-dollar business deals. Some of the important legal work was done in the office, but most of it had to be done at home due to varying levels of lockdowns that forced people’s daily routines to adapt to a “New Normal.” On top of the wider business disruption, the constraints of working from home added plenty of extra pressure and learning curves. According to data from Citi Private Bank, demand for lawyer time fell only 1% in the first half of 2020, dropping by 4.2% in the second quarter – significantly lower than in 2019. But the lawyers who managed to stay busy had plenty of work to do. Jump straight to: Methodology Winner’s Updates Pandemic Insights from Results South Africa VILAF Raymond Goh – China Tourism Group China South Korea Khaitan & Co Carina Wessles – Alexander Forbes Hong Kong UAE Navrita Kaur – Omesti Group India Vietnam Stanley Lui – TI...
April 28, 2021
Ashurst, one of the UK’s oldest law firms, has helped secure a joint-venture between fintech TymeGlobal and JG Summit Holdings to create a new form of digital banking in the Philippines. TymeGlobal, a fintech with a banking license in South Africa, announced on February 23 it had inked a deal for the first digital bank in the archipelago after new banking regulations came into force in November. The Ashurst advisory team was led by Hong Kong-based partner Joshua Cole supported by counsel Hoi Tak Leung and associates Lisette Chan and Jessica Leung. Cole said the joint venture “will set an example for other potential market entrants in offering innovative financial services to the market.” He added that the legal firm reviewed the proposed business structure and assisted with the joint-venture agreements to “ensure the commercial and regulatory requirements of the new business are reflected.” The deal followed a $US110 million Series B funding round for TymeGlobal, spearheaded by JG (which invested $US5 million) and private equity fund Apis Growth Fund II. Apis was advised by ENSAfrica, the largest law firm in Africa. TymeGlobal retained South African law firm Webber Wentzel for its part of the capital raise. The deal is the latest step in the South African digital bank’s push into the Asia Pacific region and represents the first major commercial interest in leveraging the Philippines’ new digital banking framework. This updated legislation sets equivalent requirements for digital banks as for traditional lenders, with a minimum capital of at least 1 billion pesos ($US20 million) and outlines governance, infrastructure and data management requirements for digital banks. According to the...
April 6, 2020
Asian-mena Counsel’s review of the top transactions and matters that closed during 2019 ...