Freshfields Bruckhaus Deringer has termed recent reports of a possible relaunch in Singapore in the third quarter of 2012 as “speculation,” and refused to comment on the same.

Stories have emerged in certain sections of the legal press that the Magic Circle law firm’s partnership council has green-lit plans for a launch in Singapore, some five years after Freshfields closed its office on the island.

“We are not going to comment on speculation,” a Freshfields spokesperson said. “We are reviewing our platform in Asia as part of a regular review and Singapore, as an important business hub for SE Asia, is clearly one of the options.”

Last month, Singapore tooks steps to ease the restrictions on foreign law firms in its hitherto fiercely regulated legal sector by proposing amendments to its Legal Profession Act. These amendments will allow foreign law firms to own stakes in domestic firms, share in the latter’s profits, and let foreign-qualified trial lawyers appear in local courts. ALB