Walkers expands Singapore team

Global offshore law firm Walkers has expanded its new Singapore office amid expectations of an increase in offshore legal work in the city state, particularly with regard to distressed hedge funds, debt restructuring, and public-to-private deals. Walkers has transferred senior funds lawyer Laura Rogers from its Hong Kong office to build on the team already in place in Singapore.

Walkers anticipates that investment funds in Asia may soon start to face the same types of issues regarding illiquidity problems, restructuring, and the potential liquidation of funds that the firm has seen in Western markets and is adding staff to ensure that its new and existing clients in Singapore are well served.

"Liquidity issues and extreme levels of redemption requests for funds are currently less severe in Asia than the US and Europe have encountered," says Ashley Gunning, joint managing partner of Walkers' Singapore office and head of the investment funds group. "However, we anticipate these problems may arrive in Asia in due course if markets continue to deteriorate."