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When the pandemic hit, law firms went into a state of emergency as they looked to mitigate the worst of the impacts. Now, as the conditions begin to evolve and economies look to re-open, firms are carefully weighing up what the picture may look like in the longer term. Assisting them are legal networks, which are working hard to ensure their members can operate at their best.
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Magic Circle firm Allen & Overy has advised Bangkok Bank, Bank of Ayudhya and Standard Chartered on the Kingdom of Thailand’s 30-billion-baht ($965 million) dual-tranche sustainability bond issuance.
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COVID-19 has derailed business plans both global and domestic, and cast a long shadow of uncertainty across businesses. For offshore law firms who typically work nimbly with their colleagues across jurisdictions, the impacts have been twofold — with both their clients, and their offices to consider.
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Six months into the pandemic, law firms in Asia are still looking for ways to cope with COVID-19 and its impact. While firms are rolling out various initiatives to ensure smooth working and keep morale up, there is the realisation that things will never be the same.
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COVID-19 has transformed homes into offices, removed commutes and turned the humble kitchen table into a place of business. The pandemic is drastically turning work culture on its head in almost every way possible.
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What will the future of work look like? Indeed, what will the office of the future look like, particularly in the aftermath of the pandemic? These are questions that law firms, among other businesses, will likely be grappling with over the coming months and years. And with COVID leaving workplaces empty for prolonged periods, firms using this time to relook at their needs and options when it comes to workspaces.
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In May last year, six international law firms combined forces to create a set of universal best-practice arbitration guidelines. But Herbert Smith Freehills, Ashurst, CMS, DLA Piper, Hogan Lovells and Latham & Watkins were not aware that they would be releasing the draft protocol, which is out for consultation this month, in such a different climate.
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The COVID-19 pandemic has wreaked havoc across countries and industries, and the region’s legal services sector is not immune. Here’s how lawyers are currently weathering the storm, and what they need to do to rebound when it’s all over.
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With redundancies, pay cuts and the odd firm closing shop in Asia, lawyers in private practice face prolonged uncertainty. But while many firms are playing it safe and avoiding any additional costs, there are still a few that are hiring, and doing so strategically.
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The COVID-19 outbreak has had a devastating economic impact across the region, with businesses shuttered and markets crashing. To mitigate the impact locally, Singapore has responded by introducing a new bill that aims to ease economic pressures on businesses and individuals. The COVID-19 (Temporary Measures) Act, was passed in parliament in April, and is now fully in effect.