Herbert Smith Freehills not renewing QFLP licence

HERBERT Smith Freehills, one of the world's top international law firms, has decided to give up its Qualifying Foreign Law Practice (QFLP) licence when it expires this year, becoming the first foreign law firm here to do so.

Four other foreign law firms which were awarded the QFLP licences in 2008 when the scheme was introduced will have their licences extended for five years, said the Ministry of Law (MinLaw) yesterday. The firms are Allen & Overy, Clifford Chance, Latham & Watkins and Norton Rose Fulbright.

Another firm awarded the licence in 2008, White & Case, has been given a one-year conditional licence, which could be extended by four years if the firm meets "certain quantitative targets" set by MinLaw.