Singapore’s Stamford Law Corporation has become the first law firm in the city-state to fully integrate with an international outfit, after entering into an agreement with Morgan Lewis & Bockius, the largest law firm in the U.S.
The merger is expected to send ripples through Singapore’s legal market, as it is neither a Joint Legal Venture (JLV) nor a Foreign Law Alliance (FLA) – the two most popular routes for foreign law firms to enter into tie-ups in Singapore – thus providing Singapore firms yet another option as they seek international exposure.
From Morgan Lewis’ perspective, the merger allows it to tap into Singapore’s booming legal market without seeking a Foreign Law Practice (FLP) or Qualifying Foreign Law Practice (QFLP) structure. QFLPs, JLVs and FLAs may only practise Singapore law in "permitted areas," and are subject to licence renewals.
The merger, which will bear the name Morgan Lewis Stamford, is being hailed by the firms as the first example of “true integration” between a Singapore-based law practice with a global law firm. It will be fully integrated with the other 28 Morgan Lewis offices globally, and is expected to offer both foreign law and full Singapore law counsel in all areas.
Morgan Lewis Stamford will continue as a Singapore firm and Singapore law work, including litigation, will be undertaken by Singapore lawyers. It will serve as the centre for the global firm's Asia practice, all directors of Stamford Law will be admitted as partners to the Morgan Lewis global partnership.
“This combination elevates our practice into the global legal arena and will provide extensive opportunities for our lawyers, many of whom are Singapore qualified legal practitioners, to undertake much larger, more complex and in-depth cross-border legal transactions for many of the largest and most dynamic global corporations,” said Lee Suet Fern, senior director of Stamford Law, in a statement. “The combined practice will also bring significant work, skills and opportunities for Singapore and will contribute towards the growth of, and opportunities for Singapore as an international and regional legal hub - through further exports of legal services to the region.”
The merger will become effective April 1.
