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News & Analysis

Advised Cigna Corporation on its Sale of LINA Korea to Chubb Limited

31 January 2023 by Kim & Chang - South Korea

On October 7, 2021, Cigna group entered a stock purchase agreement to sell the equity interests of certain companies operating across seven countries, including LINA Life Insurance Co., Ltd. (“LINA Life”) and Cigna Korea, to Chubb group for USD $5.75 billion in cash (this event is hereby referred to as “the Transaction”). The Transaction was successfully completed on July 1, 2022. Kim & Chang advised Cigna Group in this transaction with respect to due diligence on LINA Life and other divested companies in Korea, review and execution of the stock purchase agreement and other legal advice necessary or required for the transaction.

News & Analysis

Melli Darsa & Co. changes name to PwC Legal Indonesia

19 January 2023 by PwC Legal Indonesia - Indonesia

Melli Darsa & Co., Advocates & Legal Consultants (MDC), is changing its name to PwC Legal Indonesia, effective 19 January 2023.

News & Analysis

Manufacturer and Distributor Provisions based on GR No.29/2021 and MOT Regulation No.24/2021

14 October 2022 by Melli Darsa & Co - Indonesia

Last year, the Minister of Trade (“MOT”) issued the MOT Regulation No. 24 of 2021 (“MOT Regulation 24/2021”) on Agreements for Distribution of Goods by Distributors or Agents, which revokes and replaces the MOT Regulation No. 11/M-DAG/PER/3/2006 (“MOT Regulation 11/2006”). MOT Regulation 24/2021 was issued as an implementing regulation of Government Regulation No. 29 of 2021 on Implementation of the Trade Sector (“GR 29/2021”).

News & Analysis

Integration of decentralised blockchain (off-chain) arbitration

14 October 2022 by Dominic Ng Ken Ming

In an era of accelerating developments in the domain of Web3, smart contracts and blockchain are concepts that are increasingly familiar. Likewise, heralds for the digitalisation of traditional and classic dispute resolution mechanisms have never been louder. To properly decipher and ensure smooth digital adoption, it is of paramount importance for practitioners, to appreciate and understand the local legislative mechanisms in order to ensure the enforceability of awards arising from such digitalised dispute resolution mechanisms. This article highlights, solely, from a Malaysian legal perspective, how decentralised arbitration platforms can potentially be integrated with existing domestic legal frameworks.

News & Analysis

Skyrocketing Material Prices’ Impact on Construction Contracts and Impending Amendment to Korean Fair Transactions in Subcontracting Act

04 October 2022 by Jipyong - South Korea

While the global economy is suffering from COVID-19 related recession and political unrest, the construction industry has been hit especially hard by surging prices of materials and wages. Subcontractors in particular are suffering huge losses. To cushion the harsh blow to contractors and subcontractors, the Korean government has introduced a mechanism called “Supply Cost Linkage System” effective September 2022. Through this system, increases in raw material prices can be automatically reflected and incorporated into construction costs. This system, however, is not mandatory under the current law, and several bills to amend the Fair Transactions in Subcontracting Act (the “Subcontracting Act”) are being introduced one after another.

News & Analysis

Issues in Acknowledging Rights of AI Entities in the Existing Legal Framework

23 September 2022 by LexOrbis - Joginder Singh (Partner) & Piyush Sharma (Associate Partner)

In our routine life, AI entities have found a prominent place in the form of virtual assistants. Siri, Alexa, Google Assistant, and Bixby are prominent examples of the presence of AI in our daily lives. Moreover, smart electronic appliances, such as Air-Conditioners, Refrigerators, Chimneys, and Television have also imbibed AI to offer preference-based operation for the convenience of the end-user. One of the most ground-breaking applications of AI is found in autonomous cars, which have recently been garnering a lot of media attention. Therefore, knowingly or unknowingly, AI has become an essential part of our lives and it is quite evident that its presence and our dependence on the same will increase in the years to come.

News & Analysis

Employment (Amendment of First Schedule) Order 2022

16 August 2022 by Shearn Delamore & Co - Sivabalah Nadarajah, Benedict Ngoh Ti Tang

On 12 August 2022, the much-anticipated Employment (Amendment of First Schedule) Order 20221 (“2022 Order”) was gazetted and it will come into force with effect from 1 September 2022.

News & Analysis

Sheriff’s Expenses — The Requirement to Obtain Prior Sanction of the Court or the Sheriff

04 August 2022 by Shearn Delamore & Co - Rajasingam Gothandapani, Lynnette Tan Hui Ling

A case note by Rajasingam Gothandapani and Lynnette Tan Hui Ling.

News & Analysis

Han Kun releases its 2021 VC/PE Deal Data Analysis Report

19 July 2022 by Han Kun Law Offices - China

Biomedicine remained the No.1 investment destination, FIE structures increasingly favored by dealmakers in onshore transactions Han Kun Law Offices has released the Han Kun 2021 VC/PE Deal Data Analysis Report (English edition, the “Report”).

News & Analysis

Opposition Proceedings under the Patents (Amendment) Act 2022

11 July 2022 by Shearn Delamore & Co

In this article, Pravind Chandra looks at the new section 55A of the Patents (Amendment) Act 2022.