Drew & Napier - Partners' Profiles

Yarni graduated from the London School of Economics and Political Science. She completed her pupilage and started practice at Shook Lin & Bok. In 2001, she joined the litigation department of Drew & Napier LLC and was made Associate Director in 2005 and Director in 2007.

Areas of Practice

Yarni has extensive civil and corporate litigation experience with a focus on commercial fraud and banking and finance. She has worked extensively and closely with leading Senior Counsel.

Experience

Significant cases she has handled include:

Bank fraud: Acted for Asia Pacific Breweries (APB) in defending suits commenced by four foreign banks in the High Court in respect of a massive SGD100 million fraud in relation to unauthorised accounts/facilities opened by the company’s ex-finance manger. The fraud was discovered in September 2003 and the suits were commenced a year later. The legal issues included agency, vicarious liability, restitution and the duties and obligations of bankers. The trial took place over 47 days in 2007 and 2008. (Skandinaviska Enskilda Banken AB (Publ), Singapore Branch v Asia Pacific Breweries (Singapore) Pte Ltd and Anor Suit [2009] 4 SLR(R) 788.)
Acted for APB before the Court of Appeal in a hotly contested interlocutory hearing which resulted in a landmark decision on the law on legal professional privilege. The Banks had applied for specific discovery of certain draft reports prepared by PricewaterhouseCoopers working with Drew & Napier. The Court of Appeal held that APB’s dominant purpose in commissioning the draft reports was to “get the best legal advice to mount the best defence in court.” (Bayerische Hypo-und Vereinsbank AG v Asia Pacific Breweries (Singapore) Pte Ltd and Other Applications [2004] 4 SLR 39)
Prior to the commencement of the suits, an application for pre-action discovery against the company was successfully resisted. (Bayerische Hypo-und Vereinsbank AG v Asia Pacific Breweries (Singapore) Pte Ltd and Other Applications [2004] 4 SLR 39, [2006] 3 SLR 441 and [2007] SGCA 9.)
Bonds-related fraud: Acted for US-based international institutional investors in a complicated cross-border action against numerous Indonesian-based entities and individuals for conspiracy to commit fraud in relation to the issue of bonds worth over USD100 million. A battery of applications was successfully taken out, including a world-wide Mareva injunction to freeze the defendants’ assets and an order to cross-examine the defendants for their contempt of court. (OCM Opportunities Fund II, LP and Others v Burhan Uray (alias Wong Ming Kiong) and Others [2004] SGHC 115, [2004] 4 SLR 74 and [2005] 3 SLR 60.)
Securities-related matters: Acted for the Monetary Authority of Singapore (MAS) in a landmark decision on market manipulation. The Singapore High Court found in favour of the MAS in its claim against a fund management company and its founder for market manipulation. Both defendants were ordered to make payment of a civil penalty of SGD250,000 each. (Monetary Authority of Singapore v Tan Chong Koay & Anor [2010] SGHC 277.))
Acted for the MAS in its Suit against the defendant for insider trading. The defendant was found liable and ordered to make payment of a civil penalty. (Monetary Authority of Singapore v Lew Chee Fai Kevin [2010] SGHC 166.)
Acted for the Managing Director of a Singapore listed company in investigations by the CAD for alleged securities market manipulation and making misleading statements.
Represented a Singapore listed company in a probe by the Commercial Affairs Department (CAD) against the directors for suspected insider trading and other securities related offences.
Banking law: Acted for a company against a bank in an action for conversion of promissory notes issued by the Central Bank of Nigeria. Issues included contract, estoppel and the applicable test for damages in an action for conversion. (Panwell Pte Ltd v Indian Bank (No 2) [2002] 4 SLR 963, Panwell Pte Ltd v Indian Bank (No. 2) [2002] 4 SLR 833 , Indian Bank v Panwell Pte Ltd, CA 600142 of 2001, Deogratias Ltd v Indian Bank, CA 110 of 2002C.)
Insolvency/Restructuring: Acted for a Singapore listed company in obtaining the Court’s approval to related schemes of arrangement under the Companies Act.
Arbitration related: Acted for three company directors in an application to set aside a partial award obtained in arbitration proceedings involving a multi-million dollar claim on the grounds of bias.