Local Law Firms Among Asia's Best

Source : The Business Times, October 17, 2007

LAW firms in Singapore have muscled their way up the ladder to be counted among the top firms in Asia, according to a new law guide by Chambers and Partners.

Chambers has been ranking leading law firms and lawyers worldwide based on interviews with lawyers and clients for almost 40 years.

It launched its first Asia legal guide this year, showcasing firms that 'can claim to take a truly Asia-wide approach to their work'.

The report, Chambers Asia, which was released on Monday, ranks Singapore's largest law firms - Allen & Gledhill (A&G), WongPartnership (WP), Rajah & Tann (R&T) and Drew & Napier (D&N) - among the top law firms in Asia for different practice areas.

The local law firms rank well for international arbitration with R&T in band three and A&G, WP and D&N in band four.

Band one arbitration firms are Herbert Smith and Shearman & Sterling. Allen & Overy, DLA Piper and White & Case are in band two.

Chambers Asia said Singapore has a significant number of domestic firms with genuine expertise in the field.

While Singapore continues to grow as a popular seat and centre of activity, Hong Kong remains a major centre of arbitration.

A&G and WP did well in the investment funds category. WP is ranked band two for hedge funds and real estate and band three for private equity.

And A&G is ranked band one for retail investment funds, band two for real estate and band three for private equity.

Chambers Asia said Hong Kong and Singapore are the most popular venues to set up investment funds in Asia.

It also said clients in the fund industry put a premium on the ability of lawyers to advise on investment activities in Asia, especially China and India. For shipping litigation, R&T was placed in band three.

However, local firms were not featured in the guide in practice areas such as asset finance and capital markets.

The guide said a 'hiring crisis is feared' in Singapore because of demand for legal services buoyed by the economy, as well as young lawyers leaving for Hong Kong.