Asia Business Law Journal – January/February 2023

New blossoms

A dark winter ends and growth begins

Japan has taken significant measures to reopen its economy after a prolonged period of closure. A fresh start brings an opportunity for the country to seek new avenues to seed funds, but this time it is also inviting capital flow into its technology and manufacturing fields.

Recent trends show Japanese companies recruiting and professionalising their teams to international norms, and talent sent abroad returning to Tokyo. Different ideas intermingle and conservative views of the world are evolving. Reflecting on the past but looking ahead, the country has used the lessons of the pandemic to plot a new way forward.

Our Cover story delves into how Japan has reshaped its business and legal landscapes to lead the way. Domestic law firms, once incomparable to the international outfits, are now holding their own on cross-border deals. While the language barrier and traditional hurdles persist, Japanese legal professionals are now more well-equipped to assist foreign interests.

An ocean away, spring has arrived in China to coincide with the border reopening after three years of strict lockdown. Law firms see the chance to reconnect with clients resuming their businesses, while legal professionals in other parts of Asia welcome such a comeback open-handed, spurring hopes of a broad economic revival.

Such enthusiasm shows in What’s ahead?, where we surveyed 101 law firms across the region and found most lawyers are kicking off the year with optimism. Unsurprisingly, most also agree that technology adoption and keeping top talent is the key to survival during uncertain times, and this philosophy will continue.

Renewable energy projects are thriving as Asian jurisdictions strengthen their commitment to achieving net zero, but there is a catch. In our article Power clash, Bao Chiann, a vice president of the International Chamber of Commerce Court of Arbitration, expects more climate change-related disputes as the region becomes a key player in the clean energy transition.

In this issue, we ponder why and when a senior judge should step down from the courts. Judging retirement looks into the reasoning for and against the imposition of mandatory retirement age on judges, as well as what rules are in place in this regard throughout Asia. With the almost universal lack of experienced judges, should a mandatory retirement age become a thing of the past?

As the insurance industry continues to embrace innovation and digitalisation, the insurtech sector has steadily grown in recent years. One of our Expert briefing series of articles explores how Taiwan fosters multinationals and fintech startups expanding their presence in its insurance market, with a wide range of product offerings and distribution channels.

In insolvencies debt recovery can be an onerous task when a winding-up petition is subject to an arbitration clause. Our legal frontiers article seeks to clarify the matter by looking at the first reported British Virgin Islands case, while also examining the trend in the Cayman Islands and in Hong Kong. The article provides guidance for prospective litigants who are confronted with a choice between the courts and other alternatives.

We are also excited to bring you the Thailand law firm awards 2023, where we recognise the country’s best law firms in the past year. We have identified four law firms that have proven to be the best of the best in the country, followed by firms coming top in their respective categories.

Finally, be sure not to miss our Singapore A-List, which rounds up the top 100 lawyers in the country based on nominations from clients at home and abroad, as well as by their international peers.

Best wishes,
Putro Harnowo
Editor,
Asia Business Law Journal