Law firm warns of US clampdown on tax evasion in Asia-Pacific

by Steve Randall25 May 2016
Law firm warns of US clampdown on tax evasion in Asia-Pacific
Financial institutions, employees and customers are facing a clampdown by US authorities as part of its fight against tax evasion. Herbert Smith Freehills has partnered with specialist US tax lawyers at Sharp Partners to advise firms in Singapore and Hong Kong about the potential impact.
During an investigation into Swiss banks, the US Department of Justice traced funds to Asia-Pacific and is now focused on following the money. Sharp Partners’ William Sharp said that the US authorities knows who they are tracking and will now target the financial institutions to which their funds have been transferred.
Significant hire for BLP in Hong Kong
Berwin Leighton Paisner has hired a team from Hong Kong boutique William KK Ho & Co. which specialises in asset financing for aircraft and ships.
The team of 5 lawyers includes partners William Ho and Jackson Chow along with associates Karen He, Clara Lam and Calvin Leung. They will be joined at BLP by paralegal Victoria Li and three business services staff.
All will move to BLP in Hong Kong on 18th July 2016.
International firm names new senior partner
Linklaters has announced that Charlie Jacobs has been elected senior partner. He has been with the firm for his entire career, 26 years so far. He will begin his initial 5-year term on 1st October 2016, succeeding Robert Elliot.
Jacobs has worked on some of the largest M&A deals in the market, most recently for SAB Miller on its proposed acquisition by ABI InBev and Glencore on its acquisition of Xstrata.
Bird & Bird strengthens Asia-Pacific employment practice
Bird & Bird has hired Kristy Peacock-Smith as a partner in its Sydney office. She joins from K&L Gates where she was senior counsel and was previously with Herbert Smith Freehills and FCB Lawyers.
Peacock-Smith’s appointment strengthens Bird & Bird’s Asia-Pacific employment practice with her experience of general employment law and a key focus on industrial law.
Woo joins marine team at Clyde
Anthony Woo joins the Hong Kong-based marine practice at Clyde & Co later this week. He has extensive experience in shipping, commodities and arbitration related matters and will join from Hill Dickinson where he has been a partner since 2014.