Company Briefs: Formal Law Alliance Withers KhattarWong

Formal Law Alliance Withers KhattarWong

Formal Law Alliance (FLA) Withers KhattarWong has become a fully integrated practice and operates as a single entity, rather than as two separate firms practising under the banner of an alliance.

Partners of FLA Withers KhattarWong yesterday announced the beginning of their combined law firm - legally named Withers KhattarWong LLP.

Withers Worldwide and Singapore law practice KhattarWong had forged an FLA in 2015. After three years of collaboration, the two firms decided to take their relationship a step further - in the form of a fully integrated entity.

Senior Counsel Deborah Barker, managing partner of Withers KhattarWong, said they believe it would be better if they practise as one entity rather than as two separate firms, eliminating any duplication in resources at the same time. After the integration, Withers Singapore will be closed down.

Withers KhattarWong is the largest international law firm focused on private capital in Singapore, with over 90 lawyers qualified in various jurisdictions including Singapore, the United States, the United Kingdom, Australia, Hong Kong, India, Italy, Indonesia, Malaysia and Ukraine.

Pan Ocean

Singapore-listed dry bulk carrier Pan Ocean said the sales amount for its shipping contract with Brazilian mining giant Vale International will drop to about US$45 billion (S$61 billion) from US$58 billion due to bunker fuel oil prices.

The company provided that estimate as it announced that both firms have consented to change previously agreed long-term consecutive voyage contracts dated Sept 21, 2009, to contracts of affreightment, the South Korean company said in an exchange filing yesterday.

These contracts are for the transportation of about 238.4 million tonnes of iron ore from Brazil to China over roughly 19 years.

The change was made at the request of Vale, and the existing terms and conditions regarding freight, cargo quantity, and the other contractual terms remain the same with no material impact to Pan Ocean's revenue.

The revised contracts were issued on Monday.

A version of this article appeared in the print edition of The Straits Times on January 03, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe