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February 1, 2021February 2, 2021

Interview with… Denny Rahmansyah, SSEK Indonesian Legal Consultants

How has your role / involvement in client facing work changed since becoming managing partner/setting up your firm?

Since becoming managing partner of SSEK several years ago, I have taken on multiple responsibilities, especially related to the internal management of the office and external relations with clients and third parties. Internally, we not only manage work distribution and setting goals and objectives for our lawyers, but we also mentor them and nurture the core values of the firm to ensure its long-term sustainability. Externally, our role is to maintain the trust of and positive, collaborative relationship with our clients, and expand the firm’s network at the regional and international levels. Ultimately, we believe that SSEK’s role to be not just that of legal representative to our clients, but also that of a trusted partner ready to help each client grow and achieve their goals.

What are the biggest challenges facing firms in Asia Pacific and specifically the market in which you operate in?

One of the biggest challenges we face in working with firms in the Asia Pacific is not only building but maintaining trust and collaborating as efficiently as possible with international counterparts to meet and surpass clients’ expectations. In a market that is ever-changing and dynamic, we know that the ability to adapt to every situation and address concerns directly is key to becoming a recognized and trusted firm in the regional and international legal markets.

The global pandemic has clearly changed the way in which organizations tend to operate. What impact has this had on your clients and your approach to advising clients?

The way we work and coordinate with colleagues, clients and employees has certainly changed substantively over the last nine or ten months in the wake of COVID-19. For instance, we now have significantly fewer physical meetings and more work is being done online from our homes.

However, this has not changed our values and principles, and our commitment to ensure that we continue to deliver our services to the clients at the highest standard. We will always maintain the highest level of professionalism both online and offline. Long before the global pandemic, SSEK had developed and maintained a significant network of contacts in government departments and agencies and extensive computerized databases of Indonesian laws and policies. This has allowed us and will continue to allow us to effectively and comprehensively advise clients on laws and regulations as well as unwritten administrative policies and decisions in many sectors of Indonesian law during the pandemic and as we enter the post-COVID-19 era.

What do you do differently from other firms? What do you think separates you from your competitors?

SSEK gives clients not just legal solutions, but also strategic solutions and creative commercial solutions to real-world business problems through the careful analysis of the risks associated with the client’s proposed business plan or transaction. SSEK is one of the largest, if not the largest, independent law firms in Indonesia. We do not have a foreign affiliate, allowing us to work with law firms in jurisdictions across the globe and provide a comprehensive service for clients wherever their business or transactions take them. SSEK is a full-service law firm with experience and expertise across a wide range of specialist areas.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Especially during the COVID-19 pandemic, and in light of the ever-changing legal landscape in Indonesia, our main objective, as always, is to deliver the highest level of service in terms of quality, responsiveness and reasonable fees. We will continue to provide in-depth expertise across practice areas and economic sectors, ensuring the client’s best interests. We certainly anticipate that the enactment of the Omnibus Law will raise questions and concerns among clients about how best to approach their business plans or compliance issues.

Looking ahead three years, we see SSEK still as a leading independent full-service law firm in Indonesia, continuing to provide the best service to domestic and international clients.

February 1, 2021February 9, 2021

Focus on… Doing business in post-COVID-19 India, Singhania & Partners LLP

As far as the Indian perspective is concerned, the 14 week long lockdown due to COVID-19 had a massive negative impact on the economy with the shuttering of India’s $2.9 trillion economy. Industrial production plunged by 16.7 percent in March (year on year), within a week of the lockdown. In the manufacturing sector, the Purchasing Managers’ Index (PMI), which is a method to calculate near-term economic activity, contracted significantly in April and May. The PMI for services had the lowest reading ever recorded globally (5.4).[1] Aside from agriculture, all other major sectors of the economy, particularly construction, real estate, retail trade, transport and manufacturing were in a slump during the first quarter of 2020[2].

The COVID-19 pandemic is quite possibly the greatest crisis that the world has seen and resultantly has caused seismic shifts in the economy, consumer behaviour and the overall commercial functioning of the world. The Government of India introduced following changes to ease the burden on businesses and economy. Some of the highlights are as follows:

Ease of banking in India

The Reserve Bank of India introduced a moratorium on repayments of loan amounts by borrows to lenders, in order to mitigate the pressure on borrowers to continue regular repayment of their loan amounts.

There has been much debate on whether accumulated interest on the loan repayments shall be applicable or not and the matter is pending before the Hon’ble Supreme Court. The Solicitor General has assured the Court that banks will waive interest charged on loans of up to Rs. 2 crores, which shall be compensated by the government.

Ease of Doing Business in India

Multiple relief packages and schemes were introduced for hand holding the flailing businesses, particularly in the MSME sector.

The Central Government, to ease the burden on companies in India, introduced relaxations such as relaxation in holding board meetings, board meetings through video conferencing, delayed statutory filings etc.

Several state governments also provided exemption from working hours as provided under the Factories Act, 1948 so as to curb the crises of unavailability of factory workers. The Madhya Pradesh and Uttar Pradesh state governments also exempted new factories from certain provisions of Industrial Disputes Act, 1947 and eased certain compliances under various other labour laws to provide ease in doing business to the employers.

The integration of all the existing labour laws into four codes by the central government is also a step in the right direction as it will simplify the compliances required under the different acts and will provide for uniform definitions of terms like workmen, salary/wage etc. which will help in reducing the burden of compliances and provide the employers with ease of doing business in the country.

Relief for employees

The Central Government provided both employers and employees of certain establishments which have less than 100 employees and 90% of the employees earn wages less than INR 15,000 relief from contribution under the Employees Provident Fund Scheme (“EPF”) by paying 24% contribution (12% of employer and 12% of employee) to the employees EPF account till August 2020.

Improved dispute resolution mechanism in India post-Covid

While it may be true that pandemic has badly affected all activities across the world but certainly it has paved ways for much needed overhauling in the dispute resolution system in India which is functioning much better online as one can see and realize following advantages:

With one email, the documents such as petitions, replies, affidavits etc. get filed in the court and served to all concerned parties.
Counsels can use their time more constructively as they attend the online hearings while sitting in their office when their matter is called.
Repeated adjournments on account of non-availability of counsels of either side, will now be a history as they can attend the hearing from anywhere.
During the hearings, documents like, judgments to be cited, can be shared online and hence the hearing can be conducted smoothly and without being adjourned on the pretext of the documents not readily available or to be filed at a later date.

In arbitration proceedings, it is realized that most of the tribunals are able to fix the matter in immediate future rather than giving the next date after a gap of 2-3 months. Thus, early disposal of the matter has become a reality.

The Arbitrators can attend the hearing from anywhere and there is no limitation of timings of the hearings, which used to be great hurdle earlier, now parties are following the practice of submitting their respective submissions in writing in advance of the online hearings, which also helps in making the oral presentation more effective and time saving.
It has resulted in cost savings to the litigants involved in arbitration proceedings as the costs and planning the logistics of the travel for concerned was a costly affair
During the online hearing, all concerned try to be accommodative to ensure that hearings are conducted smoothly. Technical objections of various kinds have automatically died and there is a better coordination between offices of counsels and court staffs

Few challenges presently being faced in online hearings would be addressed in times to come and hopefully we will all see a very effective, efficient and expeditious and most desirable dispute resolution framework in place.

Our outlook in India

Several sectors such as show below have tapped into this time and turned it into an opportunity for growth.

Information technology
Digital and video enabled apps
FMCG and retail
Healthcare and pharmaceuticals

There is some cautious optimism amongst agencies like the IMF and UNCTAD as well, which have independently stated that India is expected to rebound in 2021. The IMF anticipates India’s rebound in 2021 with 8.8 percent growth[3]. Even as per UNCTAD, India’s GDP is forecast to contract 5.9% in 2020 and recover to 3.9% next year[4].

[1] India’s post–COVID-19 economic recovery: The M&A imperative, McKinsey & Company; July 2020
[2] Kavaljit Singh “COVID-19 Has Pushed the Indian Economy Into a Tailspin. But There’s a Way Out”, (The Wire) < https://thewire.in/economy/covid-19-india-economic-recovery> last accessed on 15 October 2020.
[3] World Economic Outlook, “A Long and Difficult Ascent”; October 2020
[4] UNCTAD; Trade And Development Report “The Covid-19 Shock to Developing Countries: Towards a “whatever it takes” programme for the two-thirds of the world’s population being left behind”; March 2020

Firm timeline

Key clients

Indian

International

· Adani Green Energy Limited

· Axis Bank

· Dedicated Freight Corridor Corporation of India Limited

· Grofers India Pvt. Ltd.

· Gujarat Maritime Board

· Indian Railways

· ISGEC Heavy Engineering Limited

· Liberty Shoes Limited

· National Highways Authority of India

· National Highway Infrastructure Development Corporation Limited

· Power Finance Corporation

· Ramky Infrastructures Limited

· Shapoorji Pallonji & Company Ltd-

· State Bank of India

· American Bureau of Shipping

· ARRI Motion picture company

· Case New Holland

· Clinton Health Access Initiative

· IJM Corporation (BHD), Malaysia

· Deloitte Touche Tohmatsu

· Denel (SOC) Ltd.

· GROHE India

· Inmarsat India Pvt. Ltd.

· IQoR India Pvt. Ltd.

· Kelly Services India

· McGraw Hill Education India Private Limited

· O.C. Tanner

· Oxford University Press

· Sinosteel Equipment and Engineering Co. Ltd.

· S&P Global

· The Nature Conservancy

· Tiger Coatings GmbH

· Toyota Material Handling India Pvt. Ltd.

· Tupperware India Pvt. Ltd.

February 1, 2021

Interview with… Ravi Singhania, Singhania & Partners LLP

How has your role / involvement in client facing work changed since becoming managing partner/setting up your firm?

As a managing partner the expectations which the clients have from you and the demand for your time for firm’s administrative, practice development, and human capital growth becomes a challenge.

Over the years, the number of engagements and mandates where I have a client facing role is limited. However, in those limited engagements the client expectation is very high as the representative of the entire firm. At the same time such matters are far more complex and personal in nature where client reach out for my advice. On one end it becomes interesting, intellectually challenging, and creative to work on those matters. On the other hand it becomes far more difficult with time constraints and competing commitments.

What are the biggest challenges facing firms in Asia Pacific and specifically India?

The challenges which the firms in the region are facing are the systemic shift in client expectations and the development of legal profession. The client needs are becoming more sophisticated as transactions and structures are getting complex.

The legal practice in India is still evolving which is true even for other countries in Asia-pacific region. However, most of them are way ahead in the evolution compared to India. The legal profession being closed for foreign firms has stunted the development process in India though clients expect partners at Indian firms to be as savvy as their western counterparts. India law firms’ partners though highly sophisticated and knowledgeable in the field of law, however, we have a long way to go in learning the management of the practice or creating efficiencies for the benefit of their clients.

The global pandemic has clearly changed the way in which organizations tend to operate. What impact has this had on your clients and your approach to advising clients?

The pandemic has brought about a calamity which nobody could visualize or insure themselves against. However, as every cloud has silver lining this has also brought to the surface the inefficiencies which need to be ironed out in the way we conduct our business and carry on about our day to day activity, work-life, and personal life.

While living in a virtual world and shared economy the pandemic has shown the clients that they can operate reasonably well without physical meetings, workspaces, and in person activities. As a result, the cost associated with those activities having been written off has bought about huge problem in a number of sectors such as travel, hospitality, and many other services which were not possible to operate during this pandemic. At the same time it has created a global customer base for

professionals making world as a market to reach out to which was not even thought of earlier.

The clients in the current scenario have looked at us in creating innovative cost saving strategies and service delivery model which were effective in pandemic situation.

What do you do differently from other firms? What do you think separates you from your competitors?

At S&P, we have always been proactive in embracing technology. We had started using cloud a few years ago for our document management and to be able to provide services to the client in a virtual environment. A number of shared services in office were already on cloud. Unlike many other firms who have files in office in physical space and used to operate from office.

The lockdown did not hold us back for a single day to be able to revert to client, we were already prepared. Each and every fee earner was able to provide services to the client remotely during the lock down. Our servers were already remote but not in office premises and the files were available in cloud and colleagues wherever they were located were able to service client from any location. Besides, open work culture, trust in teams gave them the opportunity and liberty to work independently and not letting the client downs even for single day in lockdown.

We pride in our selves as being a strategic trusted advisor not looking at them as client files. We were able to give innovative advice and solutions in the pandemic to ensure their work continuity as well as assistance in the circumstance.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Gone are the days when client would continue to work with same law firm for decades after decades for all practice areas.

Today, the clients are looking for expertise and are cost conscious. To retain clients and to be able to continue to serve them one needs to ensure and have sharp focus of areas of practice and the industry sector and expertise. We have chosen certain practice areas such as Arbitration, Employment, Inbound Foreign Investments and Real Estate for our clients servicing and industry sectors such as infrastructure, technology, food & healthcare. We are focused to continue to serve clients in those areas to help them grow and grow alongside them.

February 1, 2021

Focus on… the business opportunities of Chinese law firms in the post-COVID-19 world, Global Law Office

Following prompt and proper anti-pandemic measures being undertaken throughout mainland China, the Chinese economy hasn’t suffered heavy losses. Business and development pace of similar large Chinese law firms hasn’t got essential changes nor challenges. We are recovering in an orderly and stable manner.

In 2020, we see opportunity and fast development in capital markets, investment, insolvency and restructuring, IP, anti-trust and dispute resolutions. Pharmaceutical and healthcare sector and high-technology related industry have developed. Since people are adopting the remote life and working style, data protection and compliance requests soar, attracting lots of attention.

During the coronavirus pandemic, from the very beginning we predicted that China’s economy would quickly recover and businesses were only temporarily suspended. Based on our market judgments and economic recovery and development, we quickly adjusted our business strategy deployment. Hence, when China generally reopens the daily operation, our business volume has exploded. In the first half of 2020, there’s a large backlog of work; but when entering the second of the year, business started to resume and fast rebound along with China domestic market recovery.

Impacts on cross-border business transactions and disputes

Although mainland China has been recovering from the COVID-19 impact, the world economy and daily life remains challenging. Cross-border matters including large scale overseas investment and M&A projects, financing activities, and cross-border disputes have been slow. Due to the worldwide lockdown, due diligence couldn’t be conducted normally; at the same time, transactions take much longer time to complete. The impacts on cross-border business transactions and disputes are severe.

We predict that next year, as the world economy recovering when Europe, North America and Hong Kong after the pandemic was brought under control, cross-border investment will recover and rebound after the long-term inhibition. We remain a very optimistic outlook of the cross-border business opportunity where our legal expertise can provide high-standard services.

Accelerated demand of remote work and IT facilities

The global COVID-19 pandemic has become a major incentive for law firms to embrace new ways of doing business. During the coronavirus lockdown, remote work and a shift to digital operations became the name of the game.

In order to maintain the business operation and to meet urgent project requirements during this special period, demand of remote IT operation facilities has been extremely accelerated. We need to quickly adopt to the change to keep working efficiency and maintain smooth communication internally and externally. Webinars, video conferences, remote hearing and various online accesses have been widely applied.

Although these online methods provide possibility to conduct business, we’re still eager of restarting normal operation since many legal work and communication such as due diligence needs to be delivered offline. It’s very clear we must invest more on remote IT facilities. But we believe that remote work will not significantly replace normal offline business and interaction after the reopening of the world.

About Global Law Office

Key clients

Other key clients:
International Finance Corporation, New Development Bank, UBS, Standard Chartered Bank, Blackstone, CICC, Hony Capital, IDG Capital Partners, KKR, Ping An, Primavera, New Frontier, China Resources, COFCO, COSCO, CNOOC, Sinochem, Sinopec, PetroChina, Jiangxi Cooper, Abbott Laboratories, S.A., Amazon, Beohringer Ingelheim, Bayer, BP, CJ, ESR, GSK, GE, Johnson & Johnson, SANOFI, SIEMENS, Shell, SK, SAMSUNG, Pfizer, Red Bull, TOYOTA, Nike, Husky, Alibaba, Autohome, Baidu, BeiGene, ByteDance, JD.com, Mengniu Dairy, Suning.com, SF Express, Tencent, Vanke, Xiaomi

The history of Global Law Office (hereinafter the “GLO”) dates back to the establishment of the Legal Consultant Office of China Council for the Promotion of International Trade (hereinafter the “CCPIT”) in 1979, when it became one of the leading law firm of China to take an international perspective on its business, fully embracing the outside world.

Firm timeline

GLO Milestone

1979

The China Council for the Promotion of International Trade (hereinafter referred to as the “CCPIT”) established the Legal Consultant Office, the predecessor of the Global Law Office.

September 1984

Upon approval by the Ministry of Justice, the CCPIT renamed the Legal Consultant Office to “China Global Law Office”.

July 1995

According to requirements of the Ministry of Justice, it was renamed as “Global Law Office”.

March 2000

Global Law Office Shanghai Office was established.

November 2000

Global Law Office was detached and reorganized according to requirements of the Ministry of Justice and renamed as “Beijing Global Law Office”.

November 2011

Beijing Global (Shenzhen) Law Office was established.

September 2018

HaoLiWen Partners and Beijing Global Law Office reached an agreement for business merger.

March 2020

Beijing Global (Chengdu) Law Office was established.

Major landmark deals

Corporate / Merger & Acquisition

Chinese investor’s largest cross-border investment project in Turkey
In 2019, Acquisition of the Turkey Istanbul Third Bosphorus Bridge and the Northern Marmara Motorway by Six-Party Consortium including Merchants Expressway
The largest outbound investment and merger project by a Chinese company.
In 2017, ChemChina’s proposed acquisition of Swiss and US-listed Syngenta for $42.6 billion.
The first reverse merger case in which a red chip Hong Kong listed public company spins off part of its China business to list on A share market.
In 2014, Skyworth Digital Holding Ltd, a Hong Kong listed public company, achieved the spin-off and listing of its domestic set-top box business (valued at RMB 3.5 billion) via China Resources Jinhua Co., Ltd. in A share market.
The first state-owned red chip company listed in Hong Kong to acquire the controlling interest in an A-share company listed in China by means of a reverse takeover.
In 2009, Tianjin Port Development Holdings Limited (3382.HK), through its wholly-owned subsidiary Grand Point Investment Limited, acquired 56.81% shares in Tianjin Port Holdings Co., Ltd. (600717.SH) from Tianjin Port (Group) Co., Ltd. for a total consideration of HK$10,961 million
The first foreign investors on its acquisition of Chinese company by way of a general offer of all of its outstanding shares and options on the Stock Exchange of Hong Kong Limited.
In 2002, advised SABMiller on Acquisition of Harbin Brewery Group Limited by way of a general offer of all of its outstanding shares and options.

Capital Markets and Securitization

The first offshore supplementary capital instruments issued by Chinese financial leasing companies
In 2020, China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) successfully issued U.S.$700,000,000 2.875 per cent. Tier 2 Dated Capital Bonds due 2030 (the “Bonds”) in the international bond capital market.
The first RMB dim sum bond in Central Asia
In 2020, China Construction Bank Astana Branch successfully issued 1 billion offshore RMB bonds in the international bond capital market. The first landed in Central Asia was issued in offshore RMB and was jointly traded on the Astana International Exchange and Hong Kong Listed simultaneously.
The first Coronavirus Combating Panda Bonds Issued by International Financial Organisations
In 2020, advised New Development Bank on its CNY5 Billion Coronavirus Combating Bonds with a tenor of 3 years, issued in the China Interbank Bond Market for the purpose of granting the Emergency Assistance Program Loan to assist the Chinese government in combating the outbreak of COVID-19.
The first financial securities issued by credit enhancement agency, the first open-ended financial securities issued by non-bank financial institution.
In 2019, China Bond Insurance Corporation(“CBIC”）issued $1.5 billion open-ended financial securities (phase I).
The first case in Chinese capital market in which a red chip architecture company directly issues A stocks and lists in domestic China, 2019
China Resources Microelectronics Limited
The first China Industrial Internet SaaS (Software as a Service) listing, 2019
Fangduoduo.com listing on Nasdaq
First offshore RMB bond listed in Hong Kong and Macau, 2019
Beijing Infrastructure Investment Co., Ltd. successfully issued 1 billion offshore RMB bonds in the bond markets of Hong Kong and Macau
The first domestic rail transit company to optimize financing and supervise corporate bonds, 2019
Beijing Infrastructure Investment Co., Ltd. 2019 third bond
The first international development agency RMB bond that has been registered and successfully issued (since the new rules for Panda bonds were issued in September 2018)
New Development Bank successfully issues RMB 3 billion in bonds
The first issuance of Panda Bonds by an international company in the PRC.
Daimler AG in 2014.
The first issuance of CNY bonds in Hong Kong, London and Taiwan markets.
The Dim Sum and Island Bonds issued by China Construction Bank Corporation Limited as the first batch of Mainland-background issuers between 2008 and 2013.
The first credit risk mitigation agreement (the Chinese equivalent of CDS) and credit risk mitigation warrants in the PRC.
The CRMA and CRMW issued by China Bond Insurance Co., Ltd. as protection seller in 2009
The first state-owned red chip company listed in Hong Kong to acquire the controlling interest in an A-share company listed in China by means of a reverse takeover.
Tianjin Port Development Holdings Limited (3382.HK), through its wholly-owned subsidiary Grand Point Investment Limited, acquired 56.81% shares in Tianjin Port Holdings Co., Ltd. (600717.SH) from Tianjin Port (Group) Co., Ltd. for a total consideration of HK$10,961 million
The first issuance of medium-term notes in the PRC interbank bond market.
Huadian Group as the first batch of issuers in 2008.
The first OTC derivatives master agreement and relevant definitions documents in the PRC.
As the key drafting member for the NAFMII Master Agreement and its Definitions between 2007 and 2013.
The first onshore asset securitisation transaction.
Securitisation of financial receivables of RMB13.25 billion of China Huarong Asset Management Company.
The first offshore securitisation transaction, backed by receivables generated from PRC-based originators’ offshore receivables.
The 1997 COSCO offshore freight receivables securitisation project.
The first and second N-Share offering and listing of PRC-based enterprises on the New York Stock Exchange.
Brilliance Automotive China Holdings Limited in 1992 and China Yuchai International Limited in 1994.

Project Financing and Others

The first leasing of aircraft.
Southern Airlines of China in 2001.
The first power plant with overseas project financing.
Shandong Rizhao Power Plant in 2000.
The first nuclear power plant project.
Dayawan Nuclear Power Plant in 1987.
The first Sino-USA joint venture project.
Shanxi Pingshuo Coal Mine in 1985.

Dispute Resolution

The first maritime case involving the International Convention on Civil Liability for Oil Pollution Damage of 1969. “Yian Jiu You 2” ,2000.
The first case to apply the Docdex Rules of the International Chamber of Commerce in Paris, France, involving a Chinese bank in relation to a letter of credit dispute. The Beijing Commercial Bank L/C case ,1996.
The first successful case of recognition and enforcement of a foreign maritime arbitration award. The vessel “Garden Gate” ,1993.
The first maritime case covering the whole procedure from ship arrest to ship sale.
The vessel “Lago” ,1985.
The first case of a PRC-based party defending a lawsuit in the USA.
The “Firecracker Case” ,1979.
The first arbitration case in Stockholm. Representing a joint-venture company based in Guangdong Province before the Arbitration Institute of Stockholm Chamber of Commerce.

International Trade
Represented China Chambers of International Commerce (CCOIC) in the high-profile Section 301 investigation initiated by the U.S. with respect to China’s technology acts, policies and practices in 2017.

February 1, 2021February 1, 2021

Interview with… Jinrong Liu

What are the biggest challenges facing firms in Asia Pacific and specifically the market in which you operate in?

To continuously improve the capability and expertise of associates and partners, and the operating efficiency of the whole firm, in order to sharpen the competitive edge.

The global pandemic has clearly changed the way in which organizations tend to operate. What impact has this had on your clients and your approach to advising clients?

During the first half of this year, the pandemic indeed forced us to change the way in which the firm operated and in which we connect with and advise clients. Remote and on-line work and communication was essential. The whole adapted to this working mode successfully. China is the first out of the pandemic, since early June, office working and business travel started to return to normal and now is completely normal. So in the second half of this year, things are back to normal.

What do you do differently from other firms? What do you think separates you from your competitors?

First, we were confident that the pandemic would be under control soon, the latest by May of this year. So we saw the light at the end of tunnel at the very beginning. The confidence and morality of the whole firm have been great.

Second, we projected that before the pandemic under control, work would be slow as most of the projects and deals which clients already approved could not kick off, and courts could not process litigations as fast as before, but these work would not vanish, rather they were delayed and postponed. Once we are out of the pandemic, work, project, transactions and litigations would rush in and we would be kept very busy. Before we start to be busy, we made ourselves completely prepared. Our projection turned out to be correct.

Third, a strong and experienced leadership is essential. Our leadership has experienced Asian financial crisis in 1997, SARs pandemic in 2003, worldwide financial crisis in 2007-2008. The firm weathered successfully during these difficult times. Confidence of the leadership, the ability of the leadership to unite the firm, to keep the confidence and morality of the firm, the ability to make projections on how business would progress are significant.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

We do not foresee a large change of what clients expect from us, and best quality of legal advice and responsiveness at a competitive price have been and will remain as the things our clients expect the most.

February 1, 2021September 13, 2021

Interview with… Mr Youdy Bun, Bun & Associates

How has your role / involvement in client facing work changed since becoming managing partner/setting up your firm?

Client-facing work is very interesting. I enjoy engaging with clients and therefore, I split my time between client-facing work and firm management-related works. I also share the management roles with other fellow partners. Since Bun & Associates was established back in 2007, our business and our firm have evolved significantly in terms of size, diversity of practice groups, client portfolio and the competition landscape. We have grown from a firm of four staff to a team of 100 people offering legal and tax services in 14 different areas of expertise. We have been ranked as a top-tier law firm by all prestigious publications for the last 12 consecutive years. It is a true privilege for me, together with the other partners of Bun & Associates, to have been able to lead the firm to this level. It is true that I have gone through many challenges and difficult times, but it is certainly an enriching experience.

What are the biggest challenges facing firms in Asia Pacific and specifically the Cambodian legal market?

Operating in an emerging legal market such as Cambodia, our firm faces the same problems encountered by most firms in other emerging markets. Skill gap remains a serious challenge and the exposure to access international best practice is limited. Firm expansion needs to be done organically. At the same time, the legal and judicial system is still in its development stage. Therefore, local practical experience is important when advising on any transaction and a thoughtful litigation strategy needs to be planned from the outset. As there are no ready-to-use tools, we need to develop the research resource and other working tools internally. Despite all these challenges, there are interesting legal works and we have been engaged to handle many ground-breaking transactions. As Cambodia deepens its integration into regional and global economies, the size of its legal market is expected to grow, and the demand of legal service and good legal advisors will rise in tandem.

The global pandemic has clearly changed the way in which organizations tend to operate. What impact has this had on your clients and your approach to advising clients?

Helping our clients overcome their business challenges during this worldwide pandemic continues to be our prime concern. Besides the implementation of new safety and sanitation procedures, one of our key priorities from our COVID-19 response plan is to ensure that we have the technology platform to continue to provide seamless services to our clients during the pandemic. In fact, we accelerated our technology plan in order to ensure that we are not lacking. We continue to uphold our commitment to our clients to help identify areas of support most needed by them as well as opportunities that may be relevant to their business, especially in this unpredictable time. We have also implemented cross-team mobilization initiatives to address the needs of our clients in the new norm of today’s business environment. In any crisis, we should look at it as an opportunity for us to adapt, to learn and to innovate so we can become a better, value-added advisor to our clients. This is a commitment we firmly believe in.

What do you do differently from other firms? What do you think separates you from your competitors?

We are proud to have built an amazing team – that is the open secret behind Bun & Associates’ success. Our team is highly-qualified, skilful and diverse. The majority of our team members graduated from prestigious universities, we have proficiency in at least six major languages and our lawyers are qualified to practice in five different jurisdictions with both civil law and common law expertise. Bun & Associates has a robust learning and development plan guided by our development and competency framework. We take the development of our lawyers seriously and we do all we can to help them progress and navigate the career pivotal points. We emphasize on building a strong learning culture in the firm because we believe learning becomes more effective when it happens naturally and frequently. For instance, client service and relationship building are instilled into all our legal professionals from the onset of their employment and we continue to reinforce this throughout their employment career with us. Our open-door policy also allows our lawyers to have easy access to all partners, many of whom have formed natural mentor-mentee relationships. Our culture of openness is somewhat unique and is likely to be an area which distinguishes us from our peers.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Being the largest fully-integrated firm offering legal and tax advisory services, we are the go-to firm for large and complex transactions. With our sizeable team, we are able to handle transactions under tight timeline. As the legal reform in Cambodia is being conducted at an unprecedented pace, we expect that the legal landscape will mature significantly in the next three years and beyond. As part of our commitment to remain a trusted advisor to our clients, we continue to make necessary investment in the relevant fields including new areas of expertise (some of which we have already started) so that we are ahead of the curve in order to best serve our clients’ interests. As foreign investment in Cambodia will undoubtedly grow exponentially, we will continue to assist our clients in seizing all arising opportunities and we will endlessly pursue our dedication to improve our process and efficiency through technology.

February 1, 2021February 1, 2021

Focus on… Bun & Associates

Firm timeline:

Bun & Associates founded in 2007, with three founders
3 staff members in 2007
41 staff members in 2013
Promoted Mr. Phin Sovath to be a Partner in 2016
75 staff members in 2017
Promoted Mr. Un Sinath to be a Partner in 2019
Legal 500 rankings- Asia Pacific Top Tier 2017 (First time ranking available for Cambodia Market)
First major office expansion in 2017
Legal 500 rankings- Asia Pacific Top Tier 2018
Legal 500 rankings- Asia Pacific Leading Firm 2019
Legal 500 rankings- Asia Pacific Top Tier 2019
Second major office expansion 2019
Legal 500 rankings- Asia Pacific Recommended Lawyer2019
Legal 500 rankings- Asia Pacific Leading Individual 2020
Legal 500 rankings- Asia Pacific Leading Firm 2020
92 Staff members in 2020

Key clients:

Agriculture
ADM Animal Nutrition (Cambodia) Co., Ltd.

Aviation
All Nippon Airways Co., Ltd.

Banking and Finance
Bangkok Bank
CIMB Bank
Hong Leong Bank (Cambodia) Plc.
Fullerton Financial Holdings

Clothing/Garment/Textile
Crystal Martin Cambodia Limited

Fintech
Pi Pay Plc.

Food and Beverage
Danone
Cambrew Ltd. (a-wholly-owned subsidiary of the Carlsberg Group)

Government and Regulatory
Ministry of Mines and Energy

Healthcare
World Health Organization

Industrial
Luen Thai Holding

Insurance
Phillip Life Assurance (Cambodia) Plc.
AIA (Cambodia) Life Insurance Plc.
FWD Insurance
Dai-ichi (Cambodia) Life Insurance Plc.
Grand China Life Insurance Plc.

International Cooperation
Japan International Cooperation Agency (JICA)
French Embassy

Oil and Gas
Total Cambodge

Retails
Aeon Mall

Telecommunications
Smart Axiata

February 1, 2021February 1, 2021

Interview with… Mr Tanjib Alam – Head of Chambers, Tanjib Alam and Associates

How has your role / involvement in client facing work changed since becoming managing partner/setting up your firm?

I set up my law firm, Tanjib Alam and Associates back in the year 2009 with a small number of talented associates. I remember during that time I had to provide personal attention to all my clients while playing an active role in teaching my fellow associates to achieve the quality of work that my firm is currently known for.

My role in my firm now, has shifted in more of a supervisory nature, where I delegate much of the personal contact to the clients to my colleagues who have by now gained ample experience to deal with clients directly. While it is impossible for me to personally attended to the large number of clients that my firm handles, I am always available to my colleagues to review and advice on critical or complex matters.

I dedicate much of my time for my passion of advocacy and am responsible in regards to all litigation matters in the Supreme Court of Bangladesh.

I also oversee large mergers and acquisitions in the business sector, such as the historic merger of the two leading telecom operators Robi and Airtel, which was spearheaded by our firm. We have also completed merger of two steel manufacturing companies, which now is the largest steel producer of the country with vertical integration and backward linkage.

What are the biggest challenges facing firms in Asia Pacific and specifically the market in which you operate in?

In my opinion, the biggest challenges that law firms in Bangladesh are facing include per capita judges and human resource development. In an unitary government system, only one Supreme Court is established with two Divisions being the High Court Division and the Appellate Division. Comparing to the population size, Bangladesh has one of the lowest par capita judges and judicial officers, resulting in huge backlog of cases, which hinders the process of justice delivery system. It takes months in getting a case listed and once it is listed, the current system provides no fixed time when a particular case would be taken up for hearing. There are days where we would attend court expecting our case to be heard and being disappointed, while other days we would have multiple cases in various courts appearing simultaneously. Our firm, thanks to the many talented associates, are able to deal with these challenges.

Bangladesh has been performing very well in the past few decades in terms of economic growth. Particularly important feature of the economy is that unlike many neighbouring nations, despite unprecedented pandemic, is projected to grow by 4.5%. Adequate talent to cater for myriad of legal issues and challenges faced by a growing economy like our has always been a challenge. We are very lucky that our team of lawyers have received their education in Europe and capable to solve problems with innovative legal ideas.

The global pandemic has clearly changed the way in which organizations tend to operate. What impact has this had on your clients and your approach to advising clients?

In order to adapt to the Global Pandemic, I conduct client conferences virtually. Thanks to various apps and internet tools, we are able to offer our services without compromising quality and efficiency. At the beginning of pandemic, my colleagues had to adjust themselves with new reality. However, they were very quick to realign their service delivery mechanics with the cooperation of our valued clients.

Our chamber is one of the most tech savvy law firms in Bangladesh. We subscribe all major online platforms for legal decisions and precedents available in India and the UK. We have been conducting hearings of cases virtually ever since the Supreme Court made the facility available for lawyers. In fact, our law firm is one of the forerunners in moving cases virtually during the early stage of pandemic. As a result, despite the global pandemic, we at TAA have been successful in maintain our usual practice almost seamlessly and hope to do so in the foreseeable future.

What do you do differently from other firms? What do you think separates you from your competitors?

The foundation of Tanjib Alam and Associates is based on dexterity and experience. By combining these two elements, we take a tailor made approach that suits the specific elements of our clients’ cases.

Unlike our competitors, we do not employ over-used tactics to resolve disputes. The important point being, in an arena like law which is always in flux, a full-proof method is nothing but a myth. However, we do not try to reinvent the wheel as well.

Keeping this in mind over the years we have kept our attitude towards each case completely different from the other. The benefit of such a process has been twofold: we have learned from our experience and our clients have always been satisfied. In fact, we have earned a reputation for being innovative in providing sustainable solution to our clients’ legal need.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Yes, of course, the clients would look for practical advice including stability and strategic direction from their legal advisor. Ambit of legal service is continuously evolving and we are learning from our experience to meet the demands of our clients. Now a days the role of law firms is not confined to giving legal advice, rather clients often seek advice and direction regarding risk management and other business infrastructural solutions too. This is mostly owing to the fact that, over the years we have developed a tenacious liaison with our clients, and they trust us to be knowledgeable regarding all the ins and outs of their enterprise.

Although we are situated in the heart of Bangladesh, in the coming years Tanjib Alam and Associates will definitely need another office in an international location owing to growing client demands. Our increasing affiliation with pro-bono work has inspired us to have a separate office in our chambers dedicated only to pro bono cases. On the other hand, excelling in the ICT/Technology and Power/Energy sector is an aim which is quite obvious to mention as we are already a pioneer law firm in that arena.

February 1, 2021February 1, 2021

Focus on… Doing business in a post-COVID-19 world, Tanjib Alam and Associates

Introduction:

The ongoing sprawl of Covid-19 in human lives has significantly impacted the fates and fortunes of people as well as business entities in the doldrums. As a law firm with foresight, we have been advising our clients on the probable legal challenges that might arise due to the pandemic so that our clients can always stand a step ahead of its competitors despite the tremble Covid-19 has presented.

What trends are law firms seeing?

Owing to the changes brought by the pandemic, most of the hearings of cases are being conducted virtually ever since the Supreme Court of Bangladesh made the facility available for lawyers. Hence, law firms are seeing a shift of trend towards a more tech-based practice both in the courtrooms as well as clients conferencing. Being a top tech savvy law firm in Bangladesh, Tanjib Alam and Associates adjusted to the “new normal” quite comfortably, while majority of the law firms and their lawyers are still struggling with this shift. In advising our clients, we hold most of the meetings virtually through the use of Zoom, Google Hangouts, Teams while maintaining communication over telephone or WhatsApp.

At the very beginning of the pandemic, Tanjib Alam and Associates was prompt in anticipating a standstill in nationwide financial activities, factories and offices. Considering the unprecedented challenge for its corporate clients, the firm, on its own motion, provided legal advice on several cost cutting measures to secure survival during the pandemic and its aftermath.

How have governments reacted to protect businesses whilst encouraging investment?

As the pandemic was rolling out and businesses started suffering, the Government of Bangladesh was poised to take several initiatives to help combat the health and economic crisis that was sweeping across the nation. In response to the dire situation, it announced a fund of approximately US$500 million to facilitate payment of wages of workers in export oriented industries. It further announced a stimulus package covering equivalent of US$ 3.6 billion to be provided to affected industries and service sector organizations as working capital through banks at low-interest rate where the government and the affected industry would equally split the payment of interest rate. Another package pertaining to small and medium enterprises (SMEs), including cottage industries, would provide equivalent to US$ 2.4 billion as working capital to the SMEs. As soon as these packages had been announced, our firm commenced in-depth analysis in order to advise its clients without any undue delay. Resultantly, many of our clients has been able to successfully avail the benefits of these packages, whereas many of their competitors could not, due to lack of prompt and authentic legal advice.

In addition, a number of initiatives have been taken by the government to promote further investment in Bangladesh by offering convenient business environment. These initiatives include reduction of time needed to obtain electricity, trade license, TIN number, land registry, mutation, Customs clearance and VAT registration for businesses, all doable virtually. The Government is also in its advanced stage in bringing reform in the Companies Act to further ease of doing business, these reforms include single member company, buying back own shares, minority protection regime in line with advanced legal system. Owing to all these positive steps, it is seen that the surging ratio of investment in Bangladesh has not been impacted in the Covid-19 emergence.

What risk mitigation factors can be advised and what technology is available to assist in-house and directors?

In house counsels have long been accustomed to have vis a vis meeting with their legal counsel as well as government and regulatory authorities. Due to the emergence of the pandemic, the roles of the in-house counsels have changed to many extents. While it is possible to attend meetings virtually with the external legal counsels, the same might be challenging with a government agency or regulatory authority. Although some of the government departments in Bangladesh have taken initiatives to offer virtual services, thanks to them, majority of the departments are yet to facilitate this service. As a result, in house counsels would have to take the burden of moving physically amidst the pandemic in order to submit documents for regulatory compliances and to receive approvals or permissions. It is pertinent to note that one of the most significant risk mitigating factors for in-house counsels is to make sure that all the agreements their business is entering into is thoroughly reviewed and vetted so that the business is well aware of the obligations it is imposing on itself and the rights it is entitled to. Although this is a timeless piece of general advice to the in-house counsels, its applicability and significance is now greater than ever. In addition, businesses should always explore and investigate any change of payment terms requested by the counterparty due to the restriction on movement. Further, it is advisable to in-house counsels not to reduce salaries of the employees, temporary layoffs or terminate an employee unless it is certain that such actions are in compliance with the provisions in the Bangladesh Labour Act, 2006 and Bangladesh Labour Rules, 2015. Non-complaint actions against employees may lead to unwanted litigation, that would cost the business more than it would save from the action impugned.Tanjib Alam and Associates has acted as counsel in the acquisition by Alipay of some of the shares of bKash Limited. It involved drafting and reviewing of legal documents throughout all stages until closing of the transaction and advising bKash Limited on relevant legal issues.

Links to Press Coverage:

The firm has acted as counsel for DSE in the acquisition by Shanghai and Shenzhen Stock Exchanges of some of the DSE shares. It involved drafting of relevant legal documents and advising DSE on relevant legal issues.

The firm acted as local counsel on behalf Grameenphone Limited (one of the leading telecommunication companies in Bangladesh) during acquisition of Grameenphone IT Limited by Accenture by purchasing 51% shares of Grameenphone IT Limited. The firm’s role was advising on issues relating to Bangladesh law, review documents from a Bangladesh law perspective as well as preparing corporate documents for effecting the transaction.

Apart from the above, The firm has acted as the lead drafting lawyer of loan and security documentations for numerous cross border syndication financing involving eminent foreign agencies such as CDB, ADB, IDB, DEG, FMO extending credit facilities to local companies. Besides drafting, the Firm has also been engaged as consultant in lending transactions involving various foreign banks and institutional investors. Some of the cross border transaction where the Firm has been involved include syndicated financing by HSBC, London to AbulKhair Steel Melting Limited, Bangladesh, financing by Mashreq Bank, Dubai to a local power project, financing by IFC as well as Bill and Melinda Gates Foundation to a local mobile banking company, syndicated financing to Regent Power by local banks as well as foreign institutional investors etc. The Firm has experience in advising both the investors/lenders and borrowers.

Key Client List:

Tanjib Alam and Associates have advised the following notable clients in present and past:

Energy

Bangladesh Petroleum Exploration and Production Company Limited (BAPEX)

Paschimanchal Gas Company Limited

Maddhapara Granite Mining Company Ltd.

Padma Oil Company Limited

Jamuna Oil Company Limited

United Power Generation and Distribution Company Limited (UPGD)

Dutch-Bangla Power Company Limited

Desh Energy Limited

Northern Power Generation Limited

Precision Energy Limited

Khulna Power Company limited

Orion Power Meghnaghat Ltd.

Regent Energy and Power Ltd.

Energypac Electronics Ltd.

Telecommunication

Robi Axiata Limited

Airtel Bangladesh limited

GrameenPhone Limited

Huawei Technologies Ltd.

Banglatel Limited

Voice Tel Limited

Summit Communications

DBL Telecom

AK Khan Telecom Limited

Financial Institutions

Dutch Bangla Bank Limited

Infrastructure Development Company limited (IDCOL)

Prime Bank Limited

Jamuna Bank Limited

Shahjalal Islami Bank Ltd.

Al-Arafah Islami Bank Ltd.

Republic Insurance Ltd.

Citi Bank NA

Lanka Bangla Finance Ltd.

Trust Bank Ltd.

Eastern Bank Limited

Meghna Bank Limited

Jamuna Bank Limited

Shahjalal Islami Bank Ltd.

City Brokerage Ltd.

Securities and Stock Market

Bangladesh Securities and Exchange Commission

Dhaka Stock Exchange Limited

Chittagong Stock Exchange Limited

Pharmaceuticals

Novartis Bangladesh Limited

Glaxo Smith Kline Bangladesh Limited

Sanofi Aventis Bangladesh Limited

Team Pharmaceuticals Limited

Zuellig Pharma Ltd.

Ad Din Pharmaceuticals Ltd.

Bangladesh Chemist and Druggist Shomity

Infrastructure and development

Chittagong Port Authority

Shimizu Corporation

Sena Hotel Developments Limited

United Property Solutions Limited

Ananta Properties Limited

Atal Properties Limited

Confidence Group

A.K. Khan & Co. Ltd

Shanta Properties Limited

Rupayan Land Development Ltd.

Joytun Developers Ltd.

Partex Builders Ltd.

STS Holdins Limited

Customs

Abul Khair Group

Robi Axiata Limited

Airtel Bangladesh limited

GrameenPhone Limited

Avery Dennison

KDS Group

Partex Star Group

Butterfly Manufacturing Limited

Cosco Shipping Limited

Hapag-Lloyd

Elitehitech Industries Limited

IRIS Corporation Berhad

Shipping and Logistics

COSCO Container Lines Co. Ltd.

Orient Overseas Container Lines Ltd (OOCL).

Hapag – Lloyd.

China Shipping Container Lines Co. Ltd.

Maersk Bangladesh Limited

Damco Bangladesh Limited

NYK Shipping Limited

DHL Global Forwarding Bangladesh Limited

SG Logistics Limited

M/S Continental Traders

Coast to Coast P & I Services Ltd.

Panocean Limited

GMS Inc.

Kuehne + Nagel Ltd, Bangladesh

Textile and Spinning

Ambar Rotor Spinning Mills

Kader Synthetic Spinning Mills Limited

Cotton Group

Anlima Textiles Ltd

Garments and Apparels

Avery Dennison

Lidl

Okaidi

Palmal Group of Companies

BHT Group of Companies

Matin Spinning Mills Limited

DBL Group

KDS Group

Flemingo Fashions Limited

Sung Kwang Apparels Limited

Consumer Knitex Ltd.

YKK Bangladesh Ltd.

Private Equity

Brummer and Partners Limited

Frontier Fund Maritius Limited

Media and Technology

BBC (Bangladesh) Limited

BBC Worldwide Services

Disney Channel

Jadoo Media Limited

Star India Limited

Somoy Media Limited

Prothom Alo (Mediastar Ltd.)

Industry and Manufacturing

The Coca-Cola Inc.

International Beverage Bangladesh Limited

Partex Beverage Limited

Partex Star Group

BSRM Group

Seven Circle (Bangladesh) Limited

Coats Bangladesh Limited

Berger Paints Bangladesh Ltd.

Juki Singapore Pte Ltd.

Abul Khair Group

Retail and Consumer Goods

Procter & Gamble

Marico Bangladesh Ltd.

Rahimafrooz Ltd.

Danish Foods Limited

Institutions and Public departments

Banabandhu Sheikh Mujib Medical University (BSMMU)

Bangladesh Medical and Dental Council (BM&DC)

Gulshan Club Ltd.

IBIAS University

National Board of Revenue, Bangladesh

Civil Aviation Authority, Bangladesh

February 1, 2021February 4, 2021

Focus on… Doing Business In a post-COVID-19 World, Piper Alderman

James Macdonald Principal: Melbourne
Bianca Jennings Partner: Adelaide
Erin McCarthy Partner: Adelaide

What trends are law firms seeing and how would they advise their clients to conduct business as usual?

The impact of COVID-19 has clearly been uneven across the economy. Sectors such as aviation, tourism, the performing arts and hospitality including the corporate events market have been decimated.

The trends we are seeing are increased demand in areas such as employment, litigation and perhaps surprisingly corporate as businesses either restructure or raise capital to survive or take advantage of the current conditions to acquire bolt- on competitors. The pandemic has also seen many companies ask for advice on their standard form contracts and to consider supply chain risk in their trading relationships.

Whilst insolvency has so far been quiet due to the impact of the various government measures described below, we expect 2020 will be seen as the eye of the storm, with 2021 seeing an increase in this sector.

Property and construction has been impacted by the extended lock-down measures in Victoria, and the eviction moratorium combined with the significant decrease in retail trade may see some commercial landlords struggle with financing obligations and reduced rents.

The key areas of additional advice we have been providing clients to help them conduct their businesses through the pandemic relate to ensuring COVID- safe practices have been implemented, that the move to remote working (and back again) has been handled safely, being aware of the various forms of government assistance available and how clients need to continue to transact with customers and key stakeholders in a more virtual world.

How have governments reacted to protect businesses whilst encouraging investment?

Governments have introduced a number of COVID- 19 response measures that have protected businesses and assisted them to retain staff and maintain financial viability, whilst encouraging investment. Key measures have included:

FIRB changes

Temporary changes to Australia’s foreign investment regime, which saw all monetary screening thresholds reduced to $0, was designed to safeguard Australian businesses and assets from predatory foreign takeovers. Despite initial views that this would deter investment (particularly when these changes were coupled with an announcement that deadlines for assessment would be extended by up to six months), we have found that Treasury has been turning around applications in a reasonable timeframe and has been willing to work within legal and commercial deadlines, prioritising urgent applications that protect and support businesses and jobs.

Fair Work Act reforms

The introduction of the JobKeeper scheme, which in addition to the material financial benefits that it brought, also enabled employers who received financial assistance via JobKeeper to utilise a range of additional flexibilities as a consequence of that eligibility. These measures operated to overrule existing employment contracts, award and enterprise agreements. The types of flexibilities available included changing hours and days of work, requiring employees to take annual leave entitlements and partial stand downs where reasonable to do so. These flexibilities continue to apply post 28 September 2020 for those employers who qualified for the second tranche of JobKeeper and for those who did not qualify but whose revenue has reduced by 10% or more.

Flexibility around electronic execution of documents and virtual meetings

Temporary changes were made to electronic transactions legislation to facilitate the electronic execution of documents and the remote witnessing of signatures, and to the Corporations Act to enable companies to provide notices of meetings to their members electronically and to hold meetings virtually using electronic means. A welcome announcement by Treasury on 19 October indicated the Commonwealth government’s intention to introduce more permanent reform in this area.

Insolvency safe harbours

Insolvency protections for companies, including a moratorium on insolvent trading liability and an increase in the monetary threshold for, and period for responding to, statutory demands. These measures are due to expire 31 December 2020.

Other measures

Other measures include various other stimulus measures, protections for tenants in commercial leasing arrangements and state and territory tax relief packages for land tax and payroll tax.

What risk mitigation factors can be advised and what technology is available to assist in-house and directors?

Risk mitigation has been particularly front of mind for in-house counsel, and staying on top of the many changes has been an enormous challenge. Putting systems in place to deal with contracting risks, workforce issues, occupancy issues, and for foreign owned businesses increased FIRB regulation has added enormously to their usual workload. In both private and in-house practice mental health is an increasingly important consideration, and at Piper Alderman we have introduced a number of programs to assist all our staff.

For directors business interruption risk has been paramount. Previous reliance on overseas suppliers, customers, migration, tourist dollars and unrestricted movement of people and goods has now been called into question. Added to this, the bushfires at the start of the year in Australia and the claims made against the Retail Employees Superannuation fund (where it was alleged that REST failed to inform fund holders how it took into account environmental and climate change issues in managing the fund) raised the stakes in climate change discussions at board level.

Our advice on these types of risk and their mitigation has been both client specific and general via our online portal, newsletters and conducting client webinars. Our website provides a comprehensive series of freely available guides for our clients to assist them to stay on top of the key developments in their industries, and to provide them with the support of our industry experts.

Online meetings and webinars have been hugely successful and in our view paved the way for structural reforms to continue post-2020. Any discussion on how technology can play a part must also consider cyber security and how our clients can put physical and technological systems in place to best defend themselves from, and reduce the impact of, cyber attacks.

We remain of the view that those organisations who invest in secure and efficient technology to facilitate their workforce to be able to work capably from anywhere, will reap the benefits from higher productivity and retaining talented employees who wish to work flexibly.