19 firms rejected in Singapore license process
Gibson Dunn & Crutcher, Jones Day, Sidley Austin and Linklaters, all of whom will launch Singapore offices in the coming months. But the process rejected another 19 applicant firms, including Olswang, Ashurst, Berwin Leighton Paisner and DLA Piper.
Without the license these firms will have to work with local firms if they wish to gain any kind of access to the Singapore market, which is booming with Chinese investment. Olswang's Singapore managing partner told RollOnFriday he was "not surprised...in the context of an award of only four licences". Ashurst said it was "disappointed", and noted: "we felt that our application was strong".