White & Case, one of six international firms granted a license to practice Singapore law, has canceled plans to merge with local alliance partner Venture Law.
The firm declined to comment further, though a source briefed on the matter confirmed that White & Case’s plans no longer included a merger with the 10-lawyer Venture Law.
The two firms had been in a formal alliance since 2003. Until December, such alliances and joint ventures were the only means through which international firms could practice Singapore law. Prior to its arrangement with 10-lawyer Venture Law, White & Case had participated in a short-lived joint venture with another local firm, Colin Ng & Partners.
Other foreign firms, including Orrick Herrington & Sutcliffe, Shearman & Sterling and Freshfields, also pulled out of Singapore joint ventures, and the Singapore government last year introduced its liberalized Qualified Foreign Law Practice regime partly in response to their complaints.
Along with White & Case, the other foreign firms who received QFLP licenses were Clifford Chance, Allen & Overy, Herbert Smith, Latham & Watkins and Norton Rose.
Posted by Erik Even
on March 3, 2009. Filed under Home,Law Firm News,World News.
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