Description
The Bar Council Corporate and Commercial Law Committee (“CCLC”) will organise a talk on Limited Liability Law Partnerships (“LLLP”) on 23 Jan 2025.
The Legal Profession (Amendment) Bill 2024 (“Amendment Bill”) is awaiting Royal Assent. Once the amendments are in force, lawyers will be able to establish LLLPs under the Legal Profession Act 1976 (“LPA 1976”), in conjunction with the limited liability partnership (“LLP”) framework, under the Limited Liability Partnerships Act 2012 (“LLP Act”). This provides lawyers with an alternative to the traditional modes of practising law as sole proprietors and conventional partnerships.
The talk will cover the following topics:
- What is an LLP?
- Can law firms benefit from LLLPs?
- When can law firms start to organise themselves as LLLPs?
- What will the proposed rules cover?
- Tax considerations
- Experience from other jurisdictions
- Singapore’s legal scene, where a law firm can either be a limited liability company (“LLC”) or LLP in addition to traditional choices of sole proprietorship and partnership
- An overview of the four different structures at the Singapore Bar
- The differences between LLC, LLP and traditional partnerships
- The protection of public interest through the enforcement of a lawyer’s ethical duties, mandatory insurance on law firms and continued personal civil liabilities for wrongful act or admission of the lawyer
Programme
Time | Agenda |
1:30 pm to 2:00 pm | Registration |
2:00 pm to 3:15 pm | Setting Up LLLPs — Essential Considerations
by Wong Tat Chung, Co-Chairperson, CCLC and Nimalan Devaraja, Partner, Skrine |
3:15 pm to 4:00 pm | Tax Considerations in Setting Up and Operating LLLPs
by Irene Yong, Partner, Shearn Delamore & Co |
4:00 pm to 5:00 pm | The Singapore Experience with LLLPs and LLCs
by Jimmy Yim, Chairman, Drew & Napier LLC |
5:00 pm to 6:00 pm | Panel Session — Preparing Malaysian Law Firms to Deal with Practical Issues and Expected Changes in the Legal Landscape Arising from LLLPs
Jimmy Yim, Chairman, Drew & Napier LLC
Wong Tat Chung, Co-Chairperson, CCLC
Irene Yong, Partner, Shearn Delamore & Co
Nimalan Devaraja, Partner, Skrine
Moderated by: Anand Raj, Vice President, Malaysian Bar; Co-Chairperson, CCLC |
Speaker
Wong Tat Chung, Co-Chairperson, CCLC
Wong Tat Chung was admitted to the Bar of England and Wales in 1986, and as an advocate and solicitor of the High Court of Malaya in 1988. His fields of practice include corporate finance, mergers and acquisitions and capital markets, and other corporate and commercial matters. He has been involved in both domestic and cross-border transactions. His experience and practice also include debt and equity securities offerings, corporate restructurings of insolvent companies, takeovers, initial public offerings, infrastructure, privatisations, and debt restructurings. He is the Co-Chairperson of CCLC and chairs its various subcommittees. He was one of the vice chairs of the Banking, Finance and Securities Committee of IPBA; a member of the Company Secretarial, Practice Sub-Committee; Accounting and Audit Sub-Committee; and the Insolvency Sub-Committee, all under the Corporate Practice Consultative Forum established by the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia, “SSM”). He is a member of the Curriculum Advisory Committee for the LLM (Applied Law) in Malaysian legal practice and the ASEAN+6 Legal Practice at the College of Law, Sydney.
Irene Yong, Partner, Shearn Delamore & Co
Irene practices in all aspects of tax and revenue law advisory, structuring, planning, audits, investigations, dispute resolution (including advising taxpayers on the settlement of tax cases or in dealings with governmental authorities) and litigation (including tax appeals, declaratory proceedings, judicial review applications, civil suits, windings up etc), sales tax, service tax, goods and services tax (“GST”), transfer pricing, income tax, real property gains tax, indirect taxes, stamp duty, taxation of oil and gas companies, tax incentives, trusts, and asset protection and planning. Irene has appeared as counsel for taxpayers before the Customs Appeal Tribunal, GST Appeal Tribunal, the Special Commissioners of Income Tax and the Superior Courts of Malaysia.
Irene also practises in the area of personal data protection and privacy laws, and provides information and data management strategies and solutions, business practice and process reviews, as well as template and document reviews for business enterprises. She has advised and conducted reviews and audits for various business enterprises, including financial institutions. She has presented papers on personal data protection law and regularly conducts training and workshops for clients and event organisers.
Nimalan Devaraja, Partner, Skrine
Nimalan Devaraja is a partner at Skrine. He is a commercial litigator who primarily practises in the areas of civil and commercial litigation, company law and shareholders’ disputes, international arbitration, restructuring and insolvency, and regulatory enforcement.
Nimalan is the Honorary Secretary of the Kuala Lumpur Bar Committee and is the Co-Chairperson of the Kuala Lumpur Bar's Civil Practice and Court Liaison Committee. He is also the Deputy Chairperson of the Bar Council Publications Committee. Nimalan is also a trainer for the Advocacy Training Course organised by the Bar Council.
Nimalan read law at King's College London and graduated with a LLB (Hons) degree in 2010. He was called to the Bar of England and Wales by the Inner Temple in 2011. He was thereafter admitted as an advocate and solicitor of the High Court of Malaya in 2012.
Jimmy Yim, Chairman, Drew & Napier LLC
Jimmy Yim is the chairman of Drew & Napier LLC and was previously its managing director for 15 years. He was appointed as Senior Counsel in 1998, being one of the youngest Senior Counsel below 40 years of age at that time.
Mr Yim has over four decades of experience in civil and commercial litigation and international arbitration. His experience in trials and international arbitration ranges from dispute in energy, projects, building and construction, joint-ventures, infrastructure, telecommunications to information technology.
He regularly appears as lead counsel before the Singapore Supreme Court, Singapore International Chamber of Commerce (“SICC”) and international arbitration. He has sat in arbitrations as sole arbitrator and part of three-member panels over the years. He is familiar with arbitrations under the rules of the Singapore International Arbitration Centre (“SIAC”), International Chamber of Commerce (“ICC”), London Court of International Arbitration (“LCIA”), AIDA Reinsurance and Insurance Arbitration Society (“ARIAS”) and United Nations Commission on International Trade Law (“UNCITRAL”).
Mr Yim is recognised as a leading international disputes and arbitration lawyer by all independent ranking publications such as The Legal 500 Asia Pacific, Chambers Asia-Pacific, Chambers Global, Asialaw, and Benchmark Litigation.
Moderator
Anand Raj, Vice President, Malaysian Bar; Co-Chairperson, CCLC
Anand Raj was admitted as an advocate and solicitor of the High Court of Malaya in 1996 and has been a partner of Shearn Delamore & Co. since 2003. Anand is a partner in his firm’s tax, trade and customs department as well as its competition law and antitrust department.
Asia Business Law Journal (2020–2024) recognised Anand as one of “Malaysia’s Top 100 Lawyers in Competition Law & Antitrust and Tax Disputes & Controversy”. Asialaw’s Client Service Excellence (2021) recognised Anand as “The Highest Rated Lawyer To Work With” in for tax and competition / antitrust. Anand was recognised as the 2017 “Asia Tax Disputes and Litigation Practice Leader of the Year” by the International Tax Review (“ITR”). Asialaw Leading Lawyers (2020–2023) recognised Anand as an “Elite Practitioner” in competition / antitrust as well as in tax.
Anand is recognised as a “Highly Regarded Practitioner” in the category of indirect tax and tax controversy (2019–2022), as well as “Highly Regarded” in world transfer pricing (“TP”) (2023–2024) by the ITR. Anand is ranked by Legal 500 Asia-Pacific (2019–2024) as a “Leading Individual in Tax”. Anand is recognised as a “Global Leader in Competition” (2019–2020) as well as a “Recommended Corporate Tax Lawyer” (2013–2024) by Who’s Who Legal. Anand is also ranked as a “Band 1 Lawyer in Tax” (2011–2024) and in competition / antitrust (2015–2024) by Chambers Asia Pacific. Who’s Who Legal (2021 and 2022) recognised Anand as “National Leader (Southeast Asia)” in corporate tax as well as competition. In 2023, Who’s Who Legal recognised Anand as the “National Leader in Competition and Corporate Tax”.
Anand has acted in leading tax cases, including for the Malaysian Bar regarding privilege before the Federal Court, Castrol (Aspac Lubricants), ExxonMobil, Bandar Utama City Corporation, SGS Singapore, Petronas Penapisan, Shell Refining and others. Anand also acted for the Malaysian Bar in the Federal Court case of Mohd Najib Hj Abd Razak v Government of Malaysia and in the case of Director General of Inland Revenue v BJT before the High Court, Court of Appeal and the Federal Court.
Anand currently serves as the Vice President of the Malaysian Bar. Anand is the Chairperson of the Bar Council Tax Committee and the Co-Chair of the Bar Council Corporate and Commercial Law Committee. Anand is the former Co-Chair of the Inter-Pacific Bar Association (“IPBA”) Competition Law Committee, Inaugural Chair of LAWASIA’s Antitrust and Competition Law Sub- Committee, and the Chair of the Competition Law Sub-Committee of the Bar Council, Malaysia.
Terms and Conditions
Event Policy
Places are limited and registration is on a first-come, first-served basis.
For events with registration fees, all payments must be made in advance, including bank charges. Registration will be confirmed once proof of payment is provided by email or fax, and full payment is received.
For events that are not organised by Bar Council, please note that you are subject to the relevant terms and conditions specified by the external providers.
Cancellation
Cancellations must be made in writing.
If you have failed to inform the organiser on your cancellation for three consecutive times, you may be blacklisted for future events.
Refunds
Refunds will be processed after the event is completed. This may take up to 30 business days. The conditions for refunds are as follows:
- Full refunds will be issued if the event is cancelled or postponed by the organiser due to some circumstances.
- No refunds for this course. However substitution is allowed.
The organiser reserves the right to modify, cancel or postpone the event, should circumstances arise that make such action necessary, whereupon all registration fees paid will be refunded.
Transferral
You are allowed to transfer your place to another participant, but you must notify the organiser with the necessary details.
Attendance
CPD points will not be awarded to lawyers and pupils in chambers from Peninsular Malaysia who arrive more than 15 minutes late, are not present throughout the event, or leave before its scheduled end.
Privacy
The personal information that you provide to the Bar Council, whether now or in the future, may be used, recorded, stored, disclosed or otherwise processed by or on behalf of the Bar Council for the purposes of facilitation and organisation of this event, research and audit, maintenance of a participant database for the promotion of this event, and such ancillary services as may be relevant.
Disclaimer
- Materials will be emailed only. No printed notes will be provided.
- No recording of the event is permitted via any means at any time.
- No part of the event content may be used/reproduced in any form without the written and explicit consent of the Bar Council and speaker(s).