Duane Morris & Selvam Advises Union Bank of India on the sale of INR 30,000 million (US$360 million) of its Equity Shares in a Qualified Institutions Placement

SINGAPORE, 21 March 2024 — Duane Morris & Selvam LLP acted as the international counsel to Union Bank of India (the “Union Bank’) on its recent sale of INR 30,0000 million (US$360 million) of its equity shares in a qualified institutions placement, including a private placement in the United States

Union Bank is a public sector bank. As at December 31, 2023, Union Bank of India had total advances of INR 8,959,740.80 million, a network of 8,479 branches, 9,889 ATMs, 18,987 business correspondents, an employee base of 76,372 and a customer base of over 152.40 million.

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Selvam LLC Promotion Announcement

SINGAPORE, March 18, 2024 – Selvam LLC is pleased to announce the promotion of certain associates to senior positions within the firm’s Corporate and Dispute practice.

Leon Yee, Chairman of Duane Morris & Selvam LLP commented: “I am delighted to congratulate our 2 Senior Associates and 2 new Associate Directors on their promotion. This is a testament to their hard work, dedication and the immense value they bring to our firm as exceptional lawyers. They have consistently demonstrated exceptional legal expertise, strong leadership qualities, and genuine commitment to client service. These qualities, coupled with their talents, solidify their roles as trusted advisors for our clients.”

Associate Directors (Dispute)
1. Cumara Kamalacumar
2. Luis Duhart

Senior Associate (Corporate)
1. Ananth Balaji Sundararaman

Senior Associate (Dispute)
1. Yuen Zi Gui

About Selvam LLC
On 1 January 2011, Selvam LLC entered into a joint law venture with Philadelphia-based United States law firm Duane Morris LLP. The affiliation, formally known in Singapore as an Enhanced Joint Law Venture (JLV), was the first U.S.-Singapore joint venture to be approved by Singapore as part of the enhanced liberalisation of its legal services market in 2008. The joint venture, known as Duane Morris & Selvam LLP, enables Duane Morris to strengthen its capabilities, access and presence in Asia through Selvam LLC’s top-ranked Singapore corporate and disputes practices, and likewise helps Selvam to leverage the support of Duane Morris’ U.S. and other international offices.

In addition, the partnership enables Selvam to draw upon the JLV in terms of the technology, IT infrastructure, training and capabilities of a global law firm. Together, the firm now has over 900 lawyers across 30 offices including five offices in Asia: Singapore, Hanoi, Ho Chi Minh City, Shanghai and Yangon. Selvam LLC undertakes all Singapore law aspects of the JLV, including litigation, employment, real estate and family law matters. Due to the ever-increasing volume of cross-border transactions, our local law capability greatly enhances the scope of legal services we are able to offer our clients.

Duane Morris & Selvam Appoints Clement Tan Head of White Collar and Investigations Practice

SINGAPORE, 4 March 2024 – Duane Morris & Selvam LLP is pleased to announce the appointment of director Clement Tan as the Head of its White Collar and Investigations practice.

Clement is a dispute resolution lawyer and he brings a wealth of experience to the role, having served as a distinguished District Judge in the State Courts of Singapore where he presided over an extensive range of civil and criminal cases. He has experience navigating high-stakes litigation, corporate commercial disputes, and has represented clients at all levels of the Singapore judicial system and arbitrations. His experience encompasses matters including white collar crime, employment disputes, minority oppression cases, contractual disputes, defamation claims and construction cases.

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Duane Morris & Selvam LLP Promotes Wang Bei to Special Counsel

SINGAPORE, September 20, 2023 – Duane Morris & Selvam LLP is pleased to announce the promotion of Wang Bei to special counsel. With her unique qualifications and experience, Wang Bei will continue to play a pivotal role in the firm’s efforts in the Asia-Pacific region, particularly in Myanmar, China and Singapore.

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Duane Morris & Selvam Appoints Ramiro Rodriguez Head of Mergers and Acquisitions Department and Funds Industry Practice

SINGAPORE, 12 July 2023 ― Duane Morris & Selvam LLP is pleased to announce the appointment of director Ramiro Rodriguez as the head of its mergers and acquisitions (M&A) department and its funds industry practice. With this strategic appointment, Duane Morris & Selvam reinforces its commitment to delivering exceptional legal services and further strengthening its position as a trusted advisor in the industry. Continue reading “Duane Morris & Selvam Appoints Ramiro Rodriguez Head of Mergers and Acquisitions Department and Funds Industry Practice”

New Incentives for Family Offices

New Incentives for Family Offices

At the 50th anniversary of the Association of Banks in Singapore (“ABS”) last Friday, Senior Minister and Monetary Authority of Singapore (“MAS”) chairman Mr. Tharman Shanmugaratnam announced that improvements will be made to the tax incentive scheme for single family offices (“SFO”) in Singapore. These include providing tax privileges, incentives or grants for contributions to charity, channelling capital towards blended finance and investing in the mitigation of global climate change.  Further details of these will be announced by the MAS in July.

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Selvam LLC Secures Discharge Not Amounting to an Acquittal for Singaporean Director

SINGAPORE, 15 May 2023―Selvam LLC achieved a significant outcome in the case of Goh Toh Heng, an elderly director charged with acquiring ill-gotten gains totaling over $405,000. Goh has been granted a discharge not amounting to an acquittal, while the possibility of future prosecution remains if new evidence emerges. Continue reading “Selvam LLC Secures Discharge Not Amounting to an Acquittal for Singaporean Director”

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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