Singapore
• Completed a job simulation on advising clients on a full spectrum of financial products. • Responded to a client's questions on the regulatory framework of "buy-now-pay-later" loans. • Informed a client of risk factors by considering current issues and macro events in the context of transactions. • Prepared a pitch to demonstrate the firm's expertise and capabilities.
• Completed a job simulation involving preparing Antitrust insight documentation. • Created an antitrust assessment outline. • Gained experience on how to assess VBER eligibility based on market share and restrictions.
Financial Services - Regulatory • Conducted legal research into the meaning of “appropriate management forum” under the Fair Dealing Guidelines for the purposes of approving the exercise of a Right-of-Review (ROR) clause in a contract for the offer of securities. • Proofread information memorandums for prohibited terms under section 309C of the Securities and Futures Act 2001. • Proofread a draft legal opinion to be issued to a client that had an arrangement with a foreign entity for securities lending and margin lending transactions. • Listened in to client calls and gained exposure to advisory work. • Participated in a group assignment involving a mock dealer agreement pursuant to which notes would be offered in Singapore. Made written submissions to the supervising associate regarding capital markets and financial regulatory questions from the client. This involved scrutinizing the dealer agreement to answer the client’s queries and researching statutes such as the SFA and relevant MAS Guidelines. Examples include the prospectus requirements under s 240 SFA and the exemption provisions.
Dispute Resolution - Restructuring & Insolvency • Attended 2 bankruptcy hearings under the mentorship of R&I lawyers. • Attended a client call on the restructuring and liquidation options available to a company facing potential creditor claims following a crypto hack. • Conducted research on a wide variety of matters such as whether and how much post-judgment interest a judgment creditor is entitled to seek and file as provable debts (under s 218 IRDA), issue estoppel, the interaction between security for costs and the estate costs rule (whether they could be substitutes to each other since the third party is adequately protected), whether costs incurred in realizing security post-liquidation are provable debts, the significance of an application for an injunction pending determination of the Court (I found that an automatic effect is that doing the act sought to be estopped in bad faith to frustrate the application could be contempt of court - see Jasa Keramat Sdn Bhd v Monatech (M) Sdn Bhd [2001] 4 MLJ 577), and whether a bank that has failed to conduct CDD/KYC checks is entitled to recover the loan (which I analyzed from the angle of restitution under an illegal contract - see Ochroid CA). • Assisted to update the firm’s internal memo on directors’ duties in the context of (near-) insolvency in light of the recent SGCA case of Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10. • Wrote an internal memo for the firm on the requirements for recognising foreign insolvency proceedings in Singapore, the reliefs and orders that a Court may grant and the exceptions to recognition (e.g., the public policy exception) with reference to Schedule 3 of the IRDA, which gives effect to Singapore’s version of the UNCITRAL Model Law on Cross-Border Insolvency. • Participated in a group assessment on a hypothetical acquisition deal simulating a spontaneous client meeting. Handled the M&A - due diligence portion and advice.
Corporate - Mergers & Acquisitions • Prepared a ‘closing binder/index’ listing out the relevant executed and executory documents, conditions precedent, undertakings, etc. as part of the sale and purchase of a company via a share sale. • Proofread due diligence reports (red flags and exceptions only). • Conducted research into a variety of matters as part of legal due diligence. For example, researching whether a statutory board has the requisite power and authority to enter into an acquisition agreement of an educational institution. This involved understanding the statute which empowers the statutory board. • Conducted ancillary research into a private wealth matter concerning the setting up of a family office in Singapore. Prepared a client-facing memorandum on my opinion on whether the requirements for setting up a family office were met. • Conducted ancillary research on the registration/licensing requirements for ship management companies in Singapore.