The burgeoning wealth management industry primarily uses the trust, particularly the discretionary trust, to structure the property of high net worth families. There are a multitude of reasons why people choose to settle trusts which may include asset protection, confidentiality, flexibility, settlor control and tax considerations. Yet, when disputes occur, the element of confidentiality, a value highly prized by wealthy individuals, is lost if the matter is heard in an open court. In this regard, arbitration as a dispute resolution mechanism appears to be a natural solution which enables parties to protect their confidentiality. However, there are several doctrinal difficulties with drafting an arbitration clause in a trust deed which includes the fact that a trust is generally not considered to be a contract, the problem of binding unborn beneficiaries and the question of enforceability of such an arbitration clause. This seminar explores whether Malaysia should consider changing its laws to allow for arbitration of trust disputes to strengthen Malaysia’s standing as a major Asian wealth management centre.
2.30 pm Registration
3.00pm Arbitration of Trust Disputes : A New Frontier by Professor Tang Hang Wu
4.30pm Q&A Session (Moderated by Mr Lim Chee Wee)
5.00pm End of programme
PROFESSOR TANG HANG WU
DIRECTOR OF THE CENTRE FOR CROSS-BORDER COMMERCIAL LAW IN ASIA,
SCHOOL OF LAW, SINGAPORE MANAGEMENT UNIVERSITY
Tang Hang Wu is a Professor and Director of the Centre for Cross-Border Commercial Law in Asia at the School of Law, Singapore Management University. His research interests include property law, restitution, equity, trusts, charity and non-profit law. Prior to this, he taught at the Faculty of Law, National University of Singapore for twelve years. Hang Wu has published widely and his work has been relied on by all levels of the Singapore courts, the Federal Court of Malaysia, the Royal Court of Jersey, the Caribbean Court of Appeal, law reform committees in the Commonwealth, major textbooks and law journals. Outside his work in academia, he co-heads the Trusts and Private Wealth department at TSMP Law Corporation.
He is frequently instructed to act as Counsel and expert witness in contentious and non-contentious matters and he has argued several landmark cases before the Singapore Court of Appeal in his areas of expertise. Hang Wu is often instructed by lawyers from other firms to bolster their legal team and to craft a strategic direction for their cases. He was recently described in a judgment by the Singapore Court of Appeal as “a leading expert” who is “well-known locally and internationally” in unjust enrichment and equity. In recognition of his expertise in equity and trusts, Hang Wu was made an overseas member of the Chancery Bar Association of England and Wales, a country correspondent of Trusts and Trustees and a member of the Special Interest Group (Contentious Trusts and Estate) of the Society of Trust and Estate Practitioners. Hang Wu was educated in La Salle School, Petaling Jaya before reading law at the National University of Singapore and Cambridge (Masters and PhD) where he won prizes for academic excellence.
MR LIM CHEE WEE
Chee Wee graduated from the University of New South Wales, Australia with a LLB degree and B. Comm. (Accounting) degree. He was called to the Malaysian Bar as an Advocate & Solicitor in the High Court of Malaya in March 1993 and started practising in SKRINE. He was made a partner of SKRINE in January 2001.
Chee Wee has a broad commercial practice having experience in a wide variety of commercial and corporate disputes and litigation including international arbitrations in Asia and Europe. He has worked closely, amongst others, with clients from Australia, Denmark, France, the Netherlands, Thailand, the United Kingdom and Singapore in managing their cross border disputes. Chee Wee primarily acts as Counsel having appeared at all tiers of the Malaysian Courts and his portfolio of litigation work has a particular focus towards corporate litigation such as shareholders disputes, restructuring, recovery and insolvency. He has a number of cases reported in the law reports.
He also has an established public and administrative law practice having regularly advised and acted as Counsel for the Malaysian stock exchange in matters involving its rules and regulations and on the exercise of its enforcement powers. His other areas of practice also encompass banking, construction and engineering, land law, trusts and partnership disputes. He is recommended by the Legal 500 2008/09 as one of the “star turns” of the Dispute Resolution Division of SKRINE. He has been described as “young, energetic, intelligent, available at any hour and highly responsive” by the Legal 500 2009/2010. Chee Wee is listed in Chambers Asia 2010 as a leading individual for Dispute Resolution and is described as being “a bright litigator with solid arguments and good commercial instincts.” In Asialaw Profiles 2011, clients revere him as “an up-and-coming partner and as evidence of the practice’s strength throughout junior and senior levels”. In Legal 500 2010/2011, he is considered as a ‘rising star’ and has been described as ’full of energy’, and ‘provides well thought solutions’. He is a member of INSOL International (and its Membership Committee), an international association of restructuring, insolvency and bankruptcy professionals.
Letter of Attendance will be issued 2 weeks after the event date. Letter of Attendance will be sent via post to the address found on the participant’s registration form.
Malaysian Bar – 2 CPD Points (CPD Code: T2/28012015/KLRCA/KL152063/2)
For more information regarding the event, please do not hesitate to contact Mr Yip Xiaoheng, Business Development, Assistant Manager at 03 2271 1000 or email to [email protected]