The event will open the market for legal advice in
Singapore's financial and corporate sectors and will
substantially reshape Singapore's legal market (see IFLR
September 1999). Lawyers and officials are bracing themselves
for the transition. "There may be some pain," says Naresh
Mahtani, chief executive of the Law Society of Singapore. "And
some local lawyers will have to adjust, but the Law Society is
there to help where it can," he says.
Under the proposals local and registered foreign lawyers in
a joint venture will be able to practice non-contentious
Singapore law side-by-side. In a formal alliance the local
partner would be able to practice...