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News & Analysis

Insolvency of personal guarantors – which NCLT is right?!

14 March 2023 by Juris Corp - Jayesh H, Sharmistha Ghosh, Palak Nenwani

Application seeking initiation of insolvency against personal guarantors (of a corporate debtor) can be filed before the National Company Law Tribunal (“NCLT”). The question is which NCLT will have appropriate jurisdiction. The Supreme Court of India (“Supreme Court”) has resolved (!) this issue in the matter of Mahendra Kumar Jajodia versus State Bank of India (“Jajodia case”).

News & Analysis

Facilitating Access to Korean Capital Markets: Lifting the Foreign Investor Registration Policy and Mandating English Disclosures

06 March 2023 by Jipyong - South Korea

On January 25, 2023, the Financial Services Commission (the “FSC”) announced its proposed measures to ease foreign investors’ access to Korean capital markets (the “Proposed Measures”).

News & Analysis

New Financial Sector Omnibus Law: Financing Service Businesses

28 February 2023 by Makarim & Taira S - Indonesia

Continuing on from our first advisory on the P2SK Law, we delve deeper into its provisions with a specific focus on Chapter X, which covers finance services businesses. This chapter applies to a variety of entities involved in finance services, including those providing peer-to-peer lending services, and aligns with the P2SK Law's aim of promoting technological innovation in finance services while protecting consumers.

News & Analysis

Singularity sets-up shop in the Middle East, Bringing Innovative Legal Services and International Dispute Resolution Expertise to the Region

27 February 2023 by Singularity Legal - India

Singularity Legal, an Asia-Africa focused international dispute law firm, has announced the opening of its new office in the UAE, marking a significant milestone in the company's expansion in the Middle East.

News & Analysis

Korean Tax Law and Regulation Updates for 2023

20 February 2023 by Lee & Ko - South Korea

Korea’s latest tax reforms package was approved by the National Assembly in December 2022, with further details made clear by the Presidential Enforcement Decree which was published in January 2023. Before going into the details of the Korean tax reforms for 2023, it is important to consider the wider global context and domestic political context in which these reforms have been made, in order to understand some of the rationale underlying the reforms.

News & Analysis

Anand and Anand launches ‘Digital Group’

20 February 2023 by Anand and Anand - India

In its centenary year, Tier I full-service Intellectual Property firm Anand and Anand today announced the launch of its ‘Digital Group’.

News & Analysis

Indonesia’s Omnibus Law Focuses on Fintech Innovation

10 February 2023 by Makarim & Taira S - Indonesia

The enactment of Law No. 4 of 2023 on the Development and Reinforcement of the Financial Sector (“the P2SK Law”) has provided fresh air for technological innovation in financial services. At the same time, the P2SK Law also protects consumers and strengthens the financial sector amid rapid digital development. Specifically, we discussed Financial Sector Technological Innovation (Inovasi Teknologi Sektor Keuangan - “ITSK”) and the possibilities for it under the P2SK Law. This advisory is the first of many advisories in the P2SK Law dedicated series.

News & Analysis

Guideline on New Anti-money Laundering Law

05 February 2023 by VILAF - Vietnam

While Vietnam remains a predominantly cash-based economy, its legal frame work on anti-money laundering, according to the Asian Pacific Group on Money Laundering (APG)’s assessment in its Mutual Evaluation Report dated January 2022, is still incomprehensive and limited, which makes the country itself vulnerable to risks of money laundering.

News & Analysis

SSEK Assists TSH Resources Berhad with Large Indonesia Land Disposal

19 January 2023 by SSEK Legal Consultants

SSEK Legal Consultants has assisted TSH Resources Berhad, one of the largest Malaysia-based oil palm plantation groups, with the disposal of land covering more than 13,000 hectares in North Kalimantan, Indonesia, for a total of approximately IDR 2.42 trillion or US$162 million, as has been reported.

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.