[crybabies lidah bercabang] Laoya2 yg memualkan

kasibiman

Friday August 24, 2012
Bar Council: Foreign firms breaking law
By SHAILA KOSHY
koshy@thestar.com.my

KUALA LUMPUR: At least one London law firm and two from Singapore are breaking the law in Malaysia, said Bar Council chairman Lim Chee Wee. He said the council was courting suitable foreign law firms to practise foreign law in Malaysia, not Malaysian law.

“We are aware of one London law firm and two Singapore law firms that are contravening the Legal Profession Act.”
Refusing to name them, he said one had solicited Malaysian law work from its Malaysian client.

“Another firm had marketed itself as having experience and knowledge in our Competition Act 2010 and the third was actually soliciting work. “We have spoken to one firm and will be engaging the other two to cease this contravention of our law,” he said in an interview.
The exception, said Lim, were those that enter Malaysia to act as arbitrators or counsel in arbitrations held here.

With imminent liberalisation of the legal profession, he said the council hoped that suitably qualified foreign law firms would obtain the licence to practise foreign law here. Lim warned Malaysians that seeking legal advice from foreign lawyers on local law would expose them to risks.

“If you obtain advice on a matter that later goes to litigation, the other side may make demand to see that document and discover any weaknesses in your case because it is not protected by the lawyer-client privilege accorded by the Act.”

He said there was no remedy for professional negligence because the foreign lawyer's insurance would not cover illegal acts where the advice was rendered in breach of the Act. He said the council could not impose disciplinary action but it could take legal action, such as injunctions and lodging police reports, to restrain their continued legal representation/advice.

Lim added that foreign lawyers had no understanding of local circumstances and how our judges would view a matter if it goes to court. He gave his assurance that Malaysian law would remain under the purview of Malaysian lawyers save where it was related to a transaction governed by both local and foreign laws.

“That would include the issuance of sukuk bonds nominated in a foreign currency, where the main instrument is governed by foreign law and where part of the security are Malaysian assets like land and shares,” he said.

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pprffthhh... ammmaaa... big bad L...

salimrock

org ramai gi london belajar law...

sharfox

Kalo bukak joke2 pasal lawyer ni bayak yang joke diorang kat dalam neraka jahannam je. Tu pasal tak heran. Pasal diorang ni tau selok belok undang2 la diorang berani nak buat suka suki. Pastu perasan diorang la paling hebat seantero alam.

kasibiman

Bar Council: Stand-alone foreign law firms not the best solution

KUALA LUMPUR, April 23 — While welcoming the government’s move to liberalise the services sector, the Bar Council expressed concern that the move could be counter-productive to the local legal service services market in the long run.

It said there was no necessity for such foreign law firms to share or transfer any technology or knowledge to Malaysian practitioners if they were allowed to set up on a “stand-alone” basis.

“We are concerned that the legal profession will be liberalised to allow up to five top international law firms with expertise in international Islamic finance to practice in Malaysia,” council president Ragunath Kesavan said in a statement today.

He said the Bar Council has had several meetings with Bank Negara since September 2006 over moves to allow foreign law firms established in Malaysia to practise in the area of Islamic finance on what is referred to as a “stand-alone” basis, i.e. without the need for such a foreign law firm to enter into any joint venture with a Malaysian law firm.

He said Bank Negara’s desire to bring in five foreign law firms (mainly London-based) was linked to the Malaysian International Islamic Finance Centre (MIFC) initiative, for which Bank Negara is the driver.

“The idea is to make Malaysia the premier Islamic finance hub in Asia.

“Although the Malaysian Bar is supportive of the MIFC initiative overall, we are not convinced that this will be the case.”

Ragunath said the Bar Council’s position was that a managed system of liberalisation, in which foreign law firms are required to enter into joint ventures with Malaysian law firms, represents the best of both worlds as there were sufficient Malaysian lawyers with expertise in the area of Islamic finance at an international level.

“Foreign law firms are able to tap into the Malaysian law firm’s knowledge of domestic laws, regulations and business environment, while Malaysian law firms are able to access knowledge of new legal/financial products.

“This reflects a ‘win-win’ situation that would augur well for an orderly liberalisation of the domestic legal services market.

“The Bar Council has made known to the government its preference for this method of liberalisation since November 2004, and has even prepared the relevant amendments and rules and regulations, and is therefore extremely disappointed that the views of Bank Negara have prevailed.”

He also said the decision to allow these five foreign law firms to set up in Malaysia to practise in the area of Islamic finance on a “stand-alone” basis would also run counter to the commitment Malaysia has given at the World Trade Organisation, and to various bilateral free trade agreement negotiations currently under way.

“Free trade requires a level-playing field. Free trade cannot be said to exist in Malaysia if Malaysian practitioners are still required by the banking industry and government-linked companies to comply with Bumiputera equity and staff quotas.”

He said the government must address domestic market issues and ensure that such policies are also abolished if there was to be true liberalisation of the legal services market in Malaysia.

“There is no point making Malaysia welcoming to foreigners if we have not yet put our own house in order.”
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ammaaa....  v so stewpid cannot do work efficiently.. .v need scapegoat. blame bumiputera equity, blame bilateral trade agreement. quote WTO.



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WTF?

nobody owes laoyas anything. you so stupid you cannot survive, go apply for post of road sweeper with alam flora.