Date Published: 4 January 2019
CNPLaw (“CNP”) formerly known as Colin Ng & Partners advised and acted as solicitors for Kalms (an associate of Ellipsiz Ltd) in a 50-50 joint venture (“JV”) with celebrity chef Justin Quek’s JQ Global restaurant consultancy.
The new JV company, Chef & Chefs, will produce premium brands of ready-to-eat meals for sale via vending machines and will become the exclusive distributor of such products. This JV will allow Kalms to have more control over its product range, thus enabling it to reap gains through its direct involvement from production to sale.
Commenting on the transaction, Ken Chia said:
“We are delighted to have worked with Kalms and Chef Justin Quek on this joint venture and we believe this JV will bring positive impacts to their respective businesses.”
Every business involves an amalgam of various stakeholders, such as investors, shareholders and directors. Ideally, each of these stakeholders should have a common vision of what is best for the company. However, this is rarely the case when individual interests are factored into the equation.
Stakeholder conflicts (regarding issues such as breaches of fiduciary duties, derivative actions, shareholder oppression, management deadlocks, management compensation, dividend payments and buy-outs) can be a thorny issue and can leave a company crippled if not addressed promptly.
Given the diversity of interests at play, we appreciate that a multi-faceted approach is usually the most cost-efficient method of resolving stakeholder conflicts. Therefore, we provide clients with ready access to an integrated team of lawyers (combining the experience of our corporate, dispute resolution and employment law practices where applicable) who will effectively engage the relevant stakeholders in discussions on how best to resolve their differences amicably.
More often than not, clients are able to avoid costly protracted court proceedings and resolve stakeholder conflicts with discretion and expediency.
There are numerous commercial drivers behind the rising popularity of joint ventures as a business/investment structure, including obtaining access to new markets within and across jurisdictions and harnessing the synergies of complementary skill sets.
By advising on how the joint venture should be structured along with related issues, such as the sharing of intellectual property and tax considerations, and documenting the terms of the party’s collaboration, our corporate lawyers help drive your joint venture ideas forward.
We continue to provide support to the joint venture throughout the course of its lifespan by preparing service agreements and other commercial agreements relevant to its operations.
In addition to offering legal insights, our lawyers are experienced at advancing our clients’ interests while being attuned to the ongoing and developing relationship between the respective parties. This contributes towards fostering a spirit of trust which is the cornerstone of any successful joint venture.