The Law Society of Singapore has given the green light for firms to take equity stakes in their clients in lieu of fees in a sign that the practice that hit the UK earlier this year is spreading to Asia.
Murugaiyan Sivakumar, a member of the Council of the Law Society of Singapore and of the Law Society’s Ethics Committee, said: “The direction was prompted by the Council’s realisation that equity in lieu of fees was a phenomenon gaining popularity in other jurisdictions, and that some Singapore law firms were under pressure from clients to do the same.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]