Shook Lin & Bok Singapore

On 6 November 2024, the Monetary Authority of Singapore (“𝐌𝐀𝐒”) published its response to feedback received on its consultation paper proposing a new class exemption for single family offices (“𝐒𝐅𝐎𝐬”) from the requirement to be licensed for fund management under the Securities and Futures Act 2001 (“𝐒𝐅𝐀”). This note summarises the key points from the consultation response. Our Partner Genevieve Pang and Associate Timothy Beh discuss more in this client update. Follow the link below to read more. https://lnkd.in/gnrgAF2P You may also visit us @ Website | www.shooklin.com #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #SLBpublications

On 25 October 2024, the Monetary Authority of Singapore (“𝐌𝐀𝐒”) published the Circular on Anti-scam measures by Major Payment Institutions Providing Personal Payment Accounts that contain E-money (the “𝐂𝐢𝐫𝐜𝐮𝐥𝐚𝐫”). The Circular sets out MAS’ supervisory expectations of Major Payment Institutions (“𝐌𝐏𝐈𝐬”) that provide personal payment accounts containing e-money. Our Associate Christopher Huang provides a summary of the key contents of circular in this client update. Follow the link below to read more. https://lnkd.in/gPxzY4AN You may also visit us @ Website | www.shooklin.com #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #SLBpublications

We are pleased to have recently hosted our Annual 𝐀𝐥𝐮𝐦𝐧𝐢 𝐇𝐨𝐦𝐞𝐜𝐨𝐦𝐢𝐧𝐠! It was great to see our Alumni catching up with fellow past and present colleagues over sips and nibbles. Thank you to all who came. We hope to see you again at the next gathering! You may also visit us @ Website | www.shooklin.com #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #bestlawfirms  

We are pleased to announce that team @ShookLin emerged as one of the four winners and clinched the 𝐌𝐨𝐬𝐭 𝐅𝐞𝐚𝐬𝐢𝐛𝐥𝐞 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 award at the Awards ceremony held on Friday, 1 November 2024 for the DBS and SG Courts 𝘏𝘢𝘤𝘬𝘢𝘵𝘩𝘰𝘯 𝘧𝘰𝘳 𝘢 𝘉𝘦𝘵𝘵𝘦𝘳 𝘞𝘰𝘳𝘭𝘥 2024 – 𝘊𝘳𝘦𝘢𝘵𝘪𝘯𝘨 𝘚𝘦𝘢𝘮𝘭𝘦𝘴𝘴 𝘢𝘯𝘥 𝘐𝘯𝘵𝘶𝘪𝘵𝘪𝘷𝘦 𝘌𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦𝘴 𝘧𝘰𝘳 𝘈𝘤𝘤𝘦𝘴𝘴 𝘵𝘰 𝘑𝘶𝘴𝘵𝘪𝘤𝘦. The team’s challenge statement was “𝘏𝘰𝘸 𝘮𝘪𝘨𝘩𝘵 𝘸𝘦 𝘦𝘯𝘴𝘶𝘳𝘦 𝘵𝘩𝘢𝘵 𝘪𝘯𝘥𝘪𝘷𝘪𝘥𝘶𝘢𝘭𝘴 𝘧𝘳𝘰𝘮 𝘥𝘪𝘷𝘦𝘳𝘴𝘦 𝘣𝘢𝘤𝘬𝘨𝘳𝘰𝘶𝘯𝘥𝘴 𝘢𝘳𝘦 𝘢𝘣𝘭𝘦 𝘵𝘰 𝘦𝘧𝘧𝘦𝘤𝘵𝘪𝘷𝘦𝘭𝘺 𝘢𝘤𝘤𝘦𝘴𝘴 𝘢𝘯𝘥 𝘯𝘢𝘷𝘪𝘨𝘢𝘵𝘦 𝘵𝘩𝘦 𝘭𝘦𝘨𝘢𝘭 𝘴𝘺𝘴𝘵𝘦𝘮, 𝘦𝘯𝘴𝘶𝘳𝘪𝘯𝘨 𝘦𝘲𝘶𝘢𝘭 𝘫𝘶𝘴𝘵𝘪𝘤𝘦 𝘧𝘰𝘳 𝘢𝘭𝘭”. Huge kudos to the team comprising Partners Charles Lim and Sherman Ho, and Associates Yi Ting Teo and Wee Siong Teo who represented Shook Lin & Bok. More than twenty teams from the various law firms, government bodies, polytechnics and universities took part in the Hackathon which kicked off in July 2024. In mid-October 2024, six finalists were selected and given the opportunity to present their ideas to the distinguished panel of judges from DBS Bank’s various business units as well as the SG Courts. The teams were assessed and scored on four criteria – innovativeness, feasibility of implementations, positive impact on society and use of design thinking. The Award has further solidified the hard work that they have put in. Once again, Congratulations team @𝐒𝐡𝐨𝐨𝐤𝐋𝐢𝐧! #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #Hackathon2024 #DBSBank #HackSingapore

Our M&A team successfully assisted Dymon Asia Private Equity ("DAPE") with its latest investment in CLA Global TS ("CLA"). The investment in CLA aims to support CLA's growth across Southeast Asia and China, and together, accelerate growth through organic initiatives and strategic acquisitions. The team was led by Partners Ying Ming Ho, Sally Lee and Wong Kit Fei, with the assistance of Associates Andre Ong , Wee Siong Teo, Sukruth Shroff, Jean Ang and Cyrus Tian. #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore

For the fifth consecutive year, we are pleased to be recognised as one of 𝐓𝐡𝐞 𝐒𝐭𝐫𝐚𝐢𝐭𝐬 𝐓𝐢𝐦𝐞𝐬’ 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞’𝐬 𝐁𝐞𝐬𝐭 𝐋𝐚𝐰 𝐅𝐢𝐫𝐦𝐬 2025.   The Firm is recommended for its expertise in: · Alternative Dispute Resolution · Banking & Finance Law · Commercial Law · Conveyancing · Insolvency & Restructuring · Investment Funds · Mergers & Acquisitions “𝙒𝙚 𝙬𝙤𝙪𝙡𝙙 𝙡𝙞𝙠𝙚 𝙩𝙤 𝙩𝙝𝙖𝙣𝙠 𝙤𝙪𝙧 𝙫𝙖𝙡𝙪𝙚𝙙 𝙘𝙡𝙞𝙚𝙣𝙩𝙨 𝙛𝙤𝙧 𝙩𝙝𝙚𝙞𝙧 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙚𝙙 𝙨𝙪𝙥𝙥𝙤𝙧𝙩 𝙖𝙣𝙙 𝙛𝙤𝙧 𝙩𝙖𝙠𝙞𝙣𝙜 𝙩𝙝𝙚 𝙩𝙞𝙢𝙚 𝙩𝙤 𝙥𝙖𝙧𝙩𝙞𝙘𝙞𝙥𝙖𝙩𝙚 𝙞𝙣 𝙩𝙝𝙚 𝙨𝙪𝙧𝙫𝙚𝙮.” The Straits Times’ "Singapore’s Best Law Firms 2025" list is based on recommendations provided by lawyers, in-house counsel and clients through a survey conducted by The Straits Times in collaboration with Statista, from 21 May 2024 to 15 July 2024. Follow the link below for more information on this research study: https://lnkd.in/gj2ptamW You may also visit us @ Website | www.shooklin.com #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #bestlawfirms

In 𝘌𝘯𝘷𝘺 𝘈𝘴𝘴𝘦𝘵 𝘔𝘢𝘯𝘢𝘨𝘦𝘮𝘦𝘯𝘵 𝘷. 𝘊𝘏 𝘉𝘪𝘰𝘷𝘦𝘴𝘵 𝘗𝘵𝘦 𝘓𝘵𝘥 [2024] SGHC 46 (“𝐁𝐢𝐨𝐯𝐞𝐬𝐭”), the General Division of the Singapore High Court held for the first time that the profits of a “net winner” of a Ponzi scheme ought to be repaid to the insolvent company through which the Ponzi scheme was perpetrated. In particular, the Court held that such profits were recoverable pursuant to the statutory clawback provision under Singapore’s insolvency regime – namely, Section 224, Insolvency, Restructuring and Dissolution Act 2018 (“𝐈𝐑𝐃𝐀") and Section 73B, Conveyancing and Law of Property Act 1886 (“𝐂𝐋𝐏𝐀”). Judgment for 𝘉𝘪𝘰𝘷𝘦𝘴𝘵 was delivered in February 2024. The Court of Appeal has since dismissed an appeal against the High Court’s decision on 16 October 2024. 𝘉𝘪𝘰𝘷𝘦𝘴𝘵 is the latest in a spate of decisions addressing the legal consequences of a Ponzi scheme. The decision stands in contrast to recent decisions dismissing claims arising from such schemes: e.g. 𝘊𝘩𝘢𝘯 𝘗𝘪𝘬 𝘚𝘶𝘬 𝘷. 𝘞𝘢𝘯 𝘏𝘰𝘦 𝘒𝘦𝘦𝘵 𝘢𝘯𝘥 𝘰𝘵𝘩𝘦𝘳𝘴 [2024] SGHC(A) 23 and 𝘗𝘦𝘳𝘳𝘺, 𝘛𝘢𝘮𝘢𝘳 𝘷. 𝘌𝘴𝘤𝘶𝘭𝘪𝘦𝘳, 𝘉𝘰𝘯𝘯𝘦𝘵 𝘚𝘦𝘳𝘷𝘢𝘯𝘦 𝘔𝘪𝘤𝘩𝘦𝘭𝘦 𝘛𝘩𝘢𝘪𝘴 [2023] SGCA(I) 2. Our Partners David Chan, Daryl Fong, Lin Ruizi, Senior Associate Sarah Chew and Associates Louis Lai, Tan Wei Sze and Fei Mo successfully acted for the Liquidators and EAM in this matter. Follow the link below to read more.  https://lnkd.in/eZKF3bmR

Our Litigation Partner, Joseph Tay has successfully acted for Huber’s Butchery in the landmark case of 𝘏𝘶𝘣𝘦𝘳’𝘴 𝘗𝘵𝘦 𝘓𝘵𝘥 𝘷. 𝘏𝘶 𝘓𝘦𝘦 𝘐𝘮𝘱𝘦𝘹 𝘗𝘵𝘦 𝘓𝘵𝘥 [2024] SGHC 230. In a first-reported decision of its kind, the Singapore High Court exercised its powers under Section 97A, Land Titles Act, to allow access to a neighbour’s property so that demolition and construction works on the adjoining property could be completed. A copy of the judgment may be accessed here: https://lnkd.in/gb3tGUEy Our Partner Joseph Tay and Associate Tan Wei Sze discuss more in this client update. You may also visit us @ Website | www.shooklin.com #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #SLBpublications

Calling all SLB Alumni members to join us at our 𝐀𝐥𝐮𝐦𝐧𝐢 𝐇𝐨𝐦𝐞𝐜𝐨𝐦𝐢𝐧𝐠 2024! Come chill, drink, and reconnect with fellow past and present, SLB colleagues! If you are an SLB Alumni member who has not received an invite, please contact Stacey De Silva at slbevents@shooklin.com. For those who have yet to RSVP, what are you waiting for? Come join us! 𝐖𝐞 𝐥𝐨𝐨𝐤 𝐟𝐨𝐫𝐰𝐚𝐫𝐝 𝐭𝐨 𝐬𝐞𝐞𝐢𝐧𝐠 𝐲𝐨𝐮! #ShookLinBokLLP #shooklinboksingapore #Legal #legalservices #lawfirms #lawfirmssingapore #alumni

We are pleased to announce that the Firm’s overall ranking in 𝘐𝘍𝘓𝘙1000 2024 has improved with Investment Funds rising a tier. Congratulations to our lawyers who have been ranked for their expertise and commitment in their respective areas of practice.   We would also like to take this opportunity to express our gratitude to our clients and friends for their continuous support. Follow the link below for more information: https://lnkd.in/gn4YsY9F You may also visit us @ Website | www.shooklin.com #ShookLinBokLLP #Legal #legalservices #lawfirms #lawfirmssingapore #IFLR1000 #lawrankings #lawyers #singapore