RHTLaw Taylor Wessing was invited to participate in a global study conducted by Harvard Business School, the UN Global Compact and the American Bar Association’s (ABA) Sustainable Development Task Force. Managing Partner Tan Chong Huat, Partner Ch’ng Li-Ling, Senior Legal Counsel Dr Tan Lay Hong and General Counsel Alvin Chen provided valuable input in drafting the legal memo that was submitted pro bono for the study. This is a significant project which also involved the participation of our ASEAN Plus Group law firms, Hanafiah Ponggawa & Partners (Indonesia) and Azmi & Associates (Malaysia).
Professor Robert G. Eccles and Tim Youmans of Harvard Business School led the study by gathering legal perspectives from law firms globally on the fiduciary duties of Directors with respect to protecting shareholder and corporate value. The purpose of this campaign is to urge companies to have their board of directors issue an annual “Statement of Significant Audiences and Materiality”, with a key goal of supporting integrated reporting and the move towards a more sustainable society.
The memos are available for viewing on the ABA Sustainability Development Task Force website.
RHTLaw Taylor Wessing’s Deputy Managing Partner Azman Jaafar was featured in a Channel NewsAsia article titled “Partner community to expand learning opportunities for students: Ng Chee Meng”.
The article highlighted the need for schools and the community to strengthen partnerships to create more learning opportunities for students. As chairperson of Tanjong Katong Girls’ School student advisory committee, Azman arranged for students to undergo internships at RHTLaw Taylor Wessing where he is Deputy Managing Partner. He did this with the intention of enabling these students to be more reflective about justice and how it affected them. To value-add to the school, he commented that it is necessary to allow the school to leverage on the private sector resources in cultivating values.
The full article can be found in the 24 October 2015 edition of the “Singapore” section of Channel NewsAsia’s website.
RHTLaw Taylor Wessing’s Intellectual Property & Technology Partner Wun Rizwi and Senior Associate Jack Ow co-authored an opinion piece titled “End of safe-harbour deal: S’pore’s position” for The Business Times.
The article highlights the recent ground-breaking decision taken by the European Court of Justice (ECJ) that counter-surveillance measures in the US have made the EU-US safe-harbour agreement (“Safe Harbour Principles”) no longer a valid ground. This means that personal data transferred to the US is protected by measures not recognised as adequate under EU Data Protection Laws.
This is a reminder to organisations that it is not enough to simply rely on Safe Harbour Principles to comply with the Transfer Limitation Obligation (TLO) under Singapore’s Personal Data Protection Act 2012, and provides an opportunity for Singapore to clarify what is an acceptable standard for international data transfers from Singapore into the US.
The full article can be found in the 17 October 2015 edition of The Business Times’ Opinion section.
RHTLaw Taylor Wessing’s Deputy Head of Litigation & Dispute Resolution Practice, Nandakumar Renganathan, was quoted in The Straits Times article titled “Ivy Lee Realty fighting application to wind up firm”.
The article discusses the High Court case of realty firm, Ivy Lee Realty, averting an application by licensed moneylender MWA Capital, to wind up the company for failure to pay up its loan.
Representing MWA Capital, Nandakumar informed the Court that Ivy Lee Realty was unable to pay the judgment sum to MWA Capital. He added that the company has insufficient funds to pay the judgment sum.
This High Court case is due for another hearing at a later date.
The full article can be found on the 10 October 2015 edition of The Straits Times.