Q&A with Anuj Shah and Jean Muller of Khaitan & Co.

April 28, 2021
This Q&A was published in IHC eMagazine Vol1, Issue 1. to read the full magazine, please click here. IHC speaks to Anuj Shah (partner) and Jean Muller (director of strategy) of Indian law firm, Khaitan & Co about the firm’s recent move to open an office in Singapore.   Despite the pandemic, Khaitan & Co opened an office in Singapore. What drove drivers that decision? Jean: Over the last two decades, India has gradually integrated into the global economy and now legal advisors here do a lot of cross-border work. Singapore is the preferred hub in the Asia-Pacific for deal-making since it hosts a critical mass of advisors, decision-makers and providers of capital. We wanted to help our clients address this increasingly complicated world and so acted accordingly. We are seeing unparalleled demand for Indian legal services in Singapore. So, this decision made perfect sense. It took a couple of years to carefully plan our first foray overseas but we believe the market has reached a point where we can add value for our clients by setting up a local presence.   Why is Singapore so important to Indian businesses? Anuj: We see a convergence of factors. Singapore’s financial markets were always critical to Indian businesses, even more so nowadays with new sources of funds to tap for stressed and distressed players. Another factor is the Indian corporate environment is highly litigious. Given the delays to get justice in India, international arbitration has become prevalent, with Singapore-seated arbitrations getting the lion’s share of that market. Today, a majority of SIAC cases involve an Indian party, and many of the...

Steering steady: Navigating directors’ fiduciary duties in insolvency

April 28, 2021
In the recent case of Byers and others v Chen Nanning [2021] UKPC 4, the UK Privy Council examined the duties of a director in relation to an insolvent British Virgin Islands (BVI) company. Liquidators of Pioneer Freight Futures Ltd (PFF), an insolvent company incorporated in the BVI, brought a claim against Ms Chen, who was a director of the company, for breach of fiduciary duties. Ms Chen was a director and the ultimate beneficial owner of PFF, via its parent company. PFF had been experiencing financial difficulties since 2008. In May 2009, PFF borrowed $US13 million from Zenato Investments Ltd (Zenato), a company belonging to a business acquaintance of Ms Chen. PFF repaid Zenato the $US13 million loan in full with interest in November 2009 (Zenato Payments). At the time of making the Zenato Payments, PFF was insolvent. On 17 December, PFF applied for the appointment of joint provisional liquidators (which later became liquidators) in the BVI on grounds of insolvency. The liquidators subsequently brought proceedings against Ms Chen for breach of a director’s fiduciary duties for making the Zenato Payments. A Director’s Duties The liquidators commenced proceedings in the BVI High Court, claiming Ms Chen breached her duties as a de jure, de facto or shadow director of PFF, or as someone whose role in the affairs of PFF justified the imposition of fiduciary duties. The liquidators also sought an order against Ms Chen on the basis that the Zenato Payments constituted an unfair preference and a voidable transaction under §§.244 and 245 of the Insolvency Act 2003. After failing to prevail both at first instance and...

Data Privacy in Malaysia

November 19, 2020
DFDL’s William Greenlee sets out the data protection regulatory framework in Malaysia and its recent developments ...

Data Privacy in Myanmar

November 19, 2020
This article by William Greenlee of DFDL sets out the data protection regulatory framework in Myanmar and its recent developments, and concludes with some reflections on the current significant shifts in global data protection standards ...