Machiuanna Chu, Partner, attended the International Bar Association (IBA) Annual Conference Seoul 2019 between 22 and 27 September.

Machiuanna spoke as one of the panelists on the session “Shareholder Agreements: Exit/Termination Strategies an Options”. The panel consisted of representatives from Amsterdam, Brazil, South Korea, and Canada.

The panel examined the effectiveness of typical exit mechanisms that are normally found in shareholder agreements as well as addressed right of first offer, right of first refusal, drag along and tag along rights. The panel and audience also reviewed the pros and cons of shotgun provisions and of other ways to provide creative solutions to 50% – 50% holdings in private entities both at the director and shareholder levels. The session drew from the real-life practical experience of the panelists and the audience to assess what works and what, in practice, becomes very difficult to implement.

The IBA is the world’s leading organisation of international legal practitioners, bar associations, law firms and law societies. It has a membership of more than 80,000 individual lawyers and more than 190 bar associations and law societies spanning over 170 countries. The IBA Annual Conference is the premier conference for legal professionals worldwide to meet, share knowledge, and to create and renew a global network of colleagues and business contacts.