Issue #47: Let’s Do NOTHING?!
Welcome to the 47th edition of OIA!
Here are the latest 🌶 headlines in APAC:
Indonesia: Indonesia prepares to shut down X if it fails to comply with regulation that bars adult content
Japan: IBM settles lawsuit against Rakuten in relation to e-commerce patents pertaining to cash-back offers
South Korea: Samsung Heavy to challenge Russian Shipyard's $4.2 billion contract termination in Singapore Court
Ling Yah
P/S: Know of any interesting seminars happening? Drop us a note at editor@overheard.asia!
Tik Tok Lost Its Tic!
In a twist that's got the tech world buzzing, ByteDance, the Chinese powerhouse behind TikTok, just lost a trademark tussle in Singapore.
🍿 What Happened?
The drama began when Dol Technology, a now-defunct, Singapore-based short video app, applied to register the trademark 'Tiki' in 2021. ByteDance filed its notices of oppositions on 2021 and 2022, claiming that 'Tiki' was too similar to its own 'TikTok' mark.
But the Intellectual Property Office of Singapore dismissed ByteDance's objections faster than you can say "swipe up," ruling that the marks were "visually and conceptually dissimilar" and only "aurally similar to a low extent."
He even pointed out that if he ruled otherwise, it would mean all two-syllable words starting with "tic" - including ticket or Tic Tac - could be considered similar to TikTok's trademark.
👀 Takeaway
IP has always been a deliberate dance between innovation and protection. We doubt that this will be the last that we hear from the likes of Tik Tok!
7 Weeks Left
Kaisa Group, the poster child of China's property sector woes, has narrowly escaped the liquidator's axe - for now!
🍿 What Happened?
The Hong Kong High Court has given this debt-laden Chinese property developer until 12th August to finalise its restructuring plan, with Judge Peter Ng dropping not-so-subtle hints that this might be the last chance.
Kaisa, which holds the dubious honor of being the first Chinese developer to default on dollar bonds back in 2015 (before recovering), is now grappling with a whopping $13 billion debt restructuring. The company's been doing this debt tango since late 2021, and creditors aren't happy.
👀 Takeaway
This case is a stark reminder that even the mightiest can fall in China's tumultuous property market.
For APAC lawyers, it's a front-row seat to one of the largest debt restructurings in recent history, offering valuable insights into how Hong Kong courts balance creditor rights with the complexities of cross-border restructurings.
Will Kaisa pull a rabbit out of its hat? We'll know in 6 weeks' time!
Lithium is MINE!
Chinese battery giant Ganfeng and two of its units have filed an ICSID claim against Mexico over a lithium project in Mexico's Sonora state.
🍿 What Happened?
The drama kicked off when Mexico cancelled nine concessions associated with the Sonora lithium project because “the minimum investment obligations had not been met".
President López Obrador justified the measure by pointing to the 2022 mining law reform which had nationalised the country's nascent lithium sector.
Ganfeng pushed back, insisting that there was 'ample evidence' of their compliance with its minimum investment obligations and that they had even exceeded them, as stated in its 2017 and 2021 annual reports.
👀 Takeaway
This is a classic clash between state sovereignty and investor rights, with a dash of resource nationalism for extra spice. The outcome could set a precedent for how countries balance their desire to control strategic resources with their obligations under international investment treaties.
Keep your eyes peeled for how the arbitrators navigate the murky waters of retroactive law application and alleged disguised expropriation!
Spotlight: Kia Meng Loh
What is your current role?
I am the Chief Operating Officer and a Senior Partner at Dentons Rodyk, a global law firm in Singapore. Instead of a specific role, I wear different hats by straddling different roles.
As a lawyer who focuses on private client matters, I provide counsel to HNWIs and wealthy families on matters involving trusts, family and business succession, and wealth management/preservation. I co-head the Trust, Estates, and Wealth Preservation practice and High Net Worth & Family Offices,
My other focus is on the firm's White-Collar Crime & Investigations practice, the former as defence counsel, and the latter involving assisting clients on regulatory breaches, corporate espionage and government inquiries.
As COO, I lead all business support functions of the firm, including Academy, Finance, Human Resources, Innovation, Information Technology, Marketing, and Risk & Compliance.
What is your proudest achievement?
Perhaps because of my personality and my training as a lawyer, my memorable accomplishments typically involve achieving a goal or solving a problem as part of a team. If I were to pick one achievement that I am particularly proud of, it will be my role as part of the Covid-19 Task Force that was formed to ensure business continuity for our law firm. In 2020, the global pandemic was gaining force rapidly. The task force was formed ad-hoc comprising various key business support leaders across the firm. We had to work together to create protocols, policies and processes that complied with government regulations and yet fulfil business continuity objectives.
It was intensive and a lot of hard work. We had to be flexible and be prepared to make changes since the impact of the pandemic is unpredicted. I am most proud that the task force worked very well together as a team to navigate us out of the pandemic.
If you had 25 hours in a day, what would you do with the extra hour?
I would do NOTHING during that extra hour. Literally.
Life is so fast-paced nowadays we do not spent enough time doing nothing.
I love and share the quote:
"Time doing nothing is never wasted."
James Norbury, Big Panda and Tiny Dragon
If you weren't a lawyer, what would you be?
I suppose I would be doing more of NOTHING!
Your favourite food haunt is...?
My favourite food haunt is the private kitchen at my home! There, my wife and I can whip up the dishes we like the way we like them and enjoy them in the comfort of our home.
Food Feature
Fancy some good old Mexican while in KL? Try out Chica Bonita - it's located at Damansara Heights which is right beside rows of great shops and cafes (including Crosserie) to hit all your foodie cravings.
If you're at Chica Bonita, check out the tacos and quesadillas with some hot Mexican sauce. You can't go wrong!
Address: Google Maps, Website, Instagram
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David Grief was described as "the Law's Middleman" (Business Times, 2021). You can reach out to him at dg@davidgrief.com if you need help identifying the right lawyer, arbitrator or expert for your matters, or even if you just want to grab a drink 🍵🍺 with someone who has managed and mentored lawyers for almost 5️⃣0️⃣ years!