Law on Lawyers · 27.11.2024

THE HIGHEST PAID LAWYER IN THE WORLD

THE HIGHEST PAID LAWYER IN THE WORLD In the high-stakes arena of global commerce, the question often arises: what makes the highest paid lawyer in the world worth their weight in gold? It is not merely a matter of billable hours or the prestige of an international law firm in Vie…

Lawyer UnilawReading time: 13 min

By Lawyer Nguyen Nhu Hai – UniLaw LLC

THE HIGHEST PAID LAWYER IN THE WORLD

In the high-stakes arena of global commerce, the question often arises: what makes the highest paid lawyer in the world worth their weight in gold? It is not merely a matter of billable hours or the prestige of an international law firm in Vietnam. Instead, it is the ability to navigate the labyrinth of international treaties, domestic statutes, and the shifting tides of cross-border litigation that saves a corporation from multi-million dollar catastrophes. In Vietnam, where the legal landscape is rapidly evolving to align with international standards, the value of a lawyer in hanoi or a law firm in ho chi minh city is measured by the degree of protection they afford to complex investments and trade transactions.

To understand the caliber of legal expertise required in this field, one must look at real-world disputes where millions were on the line. Consider the case of Vit. B.V., a Dutch enterprise specializing in the international trade of cotton. In 2018, Vit. B.V. entered into two major contracts for the sale of cotton fiber to a Vietnamese entity, DTH Co., Ltd.. The contracts were governed by the rules of the International Cotton Association (ICA), which included a mandatory arbitration clause for any disputes. When DTH failed to fulfill its obligations regarding the receipt of goods and payment, Vit. B.V. did not simply walk away. They initiated arbitration proceedings before the ICA in the United Kingdom. Despite DTH’s attempts to delay the process by requesting changes to the arbitrators, the ICA eventually issued Arbitral Award No. A01/2018/10, ordering DTH to pay 78,263.30 USD plus interest and significant legal costs.

The real challenge, however, began after the award was issued. An arbitral award is only as good as its enforcement. Vit. B.V. sought the assistance of an experienced law firm in vietnam to have this foreign award recognized and enforced. The case moved through the Vietnamese court system, where DTH argued that they had not received proper notice and that the procedures were flawed. However, the court found that notice had been appropriately delivered to DTH’s registered business address via FedEx and email. Ultimately, the court recognized the award, proving that with the right legal strategy, international creditors can successfully recover debts in Vietnam. This case exemplifies why a lawyer in hanoi must be adept not only at local litigation but also at the nuances of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

Strategic Mastery in International Sale of Goods and CISG

The highest paid lawyer in the world is often one who can prevent a trial before it even starts by drafting ironclad contracts. In international trade, this means a deep understanding of the United Nations Convention on Contracts for the International Sale of Goods (CISG). The CISG applies to contracts of sale of goods between parties whose places of business are in different States when those States are Contracting States.

Article 1 (1) of the CISG states:

“This Convention applies to contracts of sale of goods between parties whose places of business are in different States: (a) when the States are Contracting States; or (b) when the rules of private international law lead to the application of the law of a Contracting State.”.

Plain English Explanation: This rule means that if a business in Vietnam sells something to a business in Germany, the international CISG rules automatically apply to their deal unless they specifically agree to use a different law. It creates a fair and uniform set of rules for global trade.

The complexity of these rules was further highlighted in a dispute between Company S2 (based in the USA) and Company D1 (based in Vietnam) regarding the sale of frozen yellowfin tuna. The parties agreed on CFR Miami terms under Incoterms 2010. A critical issue arose: the payment terms required 50% payment upon receipt of scanned original documents, and the remaining 50% only after the goods passed inspection by the US Food and Drug Administration (FDA). When the tuna failed the FDA’s strict mercury and hygiene standards, the buyer refused to pay and demanded a refund.

The court had to determine whether the risk had passed to the buyer at the port of loading or whether the “FDA clearance” clause acted as a condition precedent to the completion of the sale. The law firms in vietnam representing the parties had to meticulously analyze the interaction between Incoterms (which usually pass risk when goods are on the vessel) and the specific contractual “condition” of FDA approval. The court eventually accepted the cancellation of the contracts and ordered the Vietnamese seller to refund 421,507.37 USD to the American buyer. This case demonstrates that in international trade, a single clause regarding “quality inspection” can override standard delivery terms, and only a top-tier lawyer in hanoi or law firm in ho chi minh city can navigate these overlaps effectively.

Carriage of Goods by Sea and the Shield of Limitation

Logistics is the backbone of global trade, and the liabilities of carriers are a major source of litigation. Most law firms in vietnam dealing with shipping disputes must be experts in the Hague-Visby Rules. These rules balance the responsibilities of the carrier with significant immunities.

Article III, Rule 1 of the Hague-Visby Rules provides:

“The carrier shall be bound before and at the beginning of the voyage to exercise due diligence to: (a) Make the ship seaworthy; (b) Properly man, equip and supply the ship; (c) Make the holds, refrigerating and cool chambers, and all other parts of the ship in which goods are carried, fit and safe for their reception, carriage and preservation.”.

Plain English Explanation: This law requires the shipping company to make sure the ship is in good condition, has a proper crew, and that the storage areas are clean and safe for the cargo before the journey starts. If they don’t do this, they are responsible for any damage to the goods.

However, the carrier is often protected by Article IV, Rule 2, which lists “excepted perils” for which the carrier is not responsible, such as “Act of God” or “Perils, dangers and accidents of the sea”. In a case involving the MV Golden Bright, a Vietnamese company sought compensation for a 0.797% shortage in a cargo of corn. The carrier successfully argued that such a small shortage fell within the “customary trade allowance” or resulted from the natural properties of the cargo during transport.

Furthermore, the highest paid lawyer in the world in the maritime sector knows how to utilize the “Limitation of Liability” based on the package or weight of the cargo. Under the Hague-Visby Rules, a carrier’s liability is limited to a certain number of Special Drawing Rights (SDR) per package or per kilogram, unless the value was declared by the shipper before shipment. In a dispute involving Casumina and Company S, Ltd, the court had to decide if a 40-foot container constituted a single “package” for liability limits. The law firm in ho chi minh city representing the claimant argued that the container held hundreds of individual units, and therefore the higher limit should apply. The court’s interpretation of “package” can mean a difference of hundreds of thousands of dollars in compensation.

Protecting Intellectual Capital: The Multi-Million Dollar Value

Why do corporations pay so much for legal counsel? Because in the digital age, intellectual property (IP) is a company’s most valuable asset. The highest paid lawyer in the world is a guardian of these intangible riches. In Vietnam, Law on Intellectual Property provides the framework, but enforcement requires aggressive litigation.

Article 124 of the Law on Intellectual Property defines the use of an industrial property object:

“Using a mark means the performance of the following acts: (a) Affixing the protected mark on goods, packaging of goods, business facilities, service facilities or transaction documents in business activities; (b) Circulating, offering for sale, advertising for sale or storing for sale goods bearing the protected mark; (c) Importing goods or services bearing the protected mark.”.

Plain English Explanation: Using a trademark legally includes putting the logo on products, selling those products, or even just advertising them. If someone does this without the owner’s permission, they are “using” the mark illegally and can be sued.

A landmark case involved A Q. (a US-based software giant) and Casumina. A Q. discovered that Casumina was using unauthorized copies of its Pro Engineer (Wildfire 5.0) software on their office computers. Despite Casumina’s claim that they were not using the software for commercial profit, the court found that the mere act of unauthorized reproduction (copying) of the software onto their systems constituted a violation of A Q.’s copyright. The court ordered Casumina to pay 500,000,000 VND in damages and issue a public apology in major newspapers like Tuoi Tre and Vietnam News. While the damages might seem modest compared to US standards, the precedent set regarding software audit rights and corporate liability is what makes a lawyer in hanoi essential for tech firms entering the Vietnamese market.

Similarly, the “cybersquatting” of domain names is a frequent battleground for international law firms in vietnam. In the case of BMW vs. Nguyen Manh T., the defendant had registered several domain names including “bmwmotorrad.com.vn” and “bmw-motorrad.vn”. BMW argued that these registrations were acts of unfair competition designed to exploit the reputation of their global brand. The court agreed, ordered the recovery of the domain names, and required the defendant to pay 200,000,000 VND in legal fees. This proves that a high-value legal team does not just win cases; they clean up the marketplace for their clients.

Corporate Governance and the Right to Information

Internal disputes between shareholders or between a company and its directors are where legal fees can skyrocket. The highest paid lawyer in the world must act as a surgical instrument, resolving deadlocks that threaten to paralyze a multi-million dollar enterprise. A key tool in this regard is the shareholder’s right to access company documents under the Law on Enterprises 2020.

Article 49 of the Law on Enterprises 2020 regarding the rights of members of a limited liability company states:

“A member of a company has the following rights:… (b) To examine, look up, and take notes of or copy the register of members, minutes of meetings, resolutions, and decisions of the Board of Members, and other documents of the company; (c) To examine, look up, and take notes of or copy annual financial statements, accounting books, and other documents… if requested.”.

Plain English Explanation: Every member who owns part of a company has a legal right to see the company’s records, meeting notes, and financial reports. The company cannot hide these documents from the owners, even if they claim it is a secret.

In a fierce dispute involving Lionas Metals, a member of the company (Lionas F) sued the company because the General Director refused to provide access to financial records and purchase contracts for raw materials. The company argued that these documents contained “business secrets” and that the member intended to use the information to help a competitor. However, the court ruled in favor of the member, emphasizing that the right to information is a fundamental statutory right of an owner that cannot be overridden by internal “confidentiality” policies. This case serves as a warning to managers: transparency is not optional, and an international law firm in Vietnam can force open the books if necessary.

Foreign Direct Investment: From Setup to M&A

For a global investor, the journey begins with market entry. This is where an international law firm in Vietnam provides its most immediate value. Whether it is a Korean investor setting up a Korean-invested manufacturing client to manufacture industrial cooling equipment or a Singaporean firm like Farlin Timbers establishing a cashew processing plant, the legal groundwork is immense.

Vietnamese law requires foreign investors to obtain an Investment Registration Certificate (IRC) and an Enterprise Registration Certificate (ERC). For certain “conditional” sectors, such as education or distribution services, the requirements are even more stringent. For instance, an international law firm in Vietnam consulting on a project for TMS Group regarding employment services would have to ensure the client has a 300,000,000 VND security deposit and a stable office lease of at least three years.

Article 7 of the Law on Enterprises 2020 outlines the rights of an enterprise:

“An enterprise has the right to: 1. Freely engage in business in any sectors and trades that are not prohibited by law; 2. Be autonomous in its business and in selecting the form of business organization; to proactively select its sectors, trades, geographical areas and form of business…”.

Plain English Explanation: This law guarantees that once a company is legally set up, it has the freedom to run its business how it wants, choose what it sells, and where it operates, as long as it doesn’t do anything explicitly forbidden by law.

When an investor chooses to enter the market via Mergers and Acquisitions (M&A), the legal risks multiply. A law firm in Ho Chi Minh City performing due diligence on a target company, such as Vat Tu Khanh Hoa, must look beyond the balance sheets. The highest paid lawyer in the world is the one who finds the “deal-breaker” before the contract is signed.

Advanced Dispute Resolution: The Role of the Supreme Court

In the Vietnamese legal system, even after a judgment is passed by the Trial and Appeal courts, the case may not be over. The “Giám đốc thẩm” (Cassation) and “Tái thẩm” (Re-trial) procedures allow the Supreme People’s Court to review judgments for serious errors in law or newly discovered facts. This is the ultimate battleground for a lawyer in hanoi.

Consider the case of Lien Khui Thin, a high-profile figure seeking to restore his 50% ownership in Tay Son Co., Ltd.. The case spanned decades and involved multiple changes to the company’s registration. After conflicting rulings by the trial and appeal courts, the Supreme People’s Court stepped in via a cassation decision. The Supreme Court identified that the lower courts had failed to properly evaluate the original capital contributions and the validity of subsequent “oral” transfers of shares. They vacated the lower judgments and ordered a complete re-trial.

Similarly, in a dispute between Agribank and Company X regarding a mortgage contract, the Supreme Court had to intervene because the lower courts had dismissed the case prematurely, failing to recognize the bank’s legitimate right to inherit the litigation rights from its predecessor. These high-level procedural victories are only possible with the intervention of a highly specialized law firm in Vietnam that understands the internal mechanics of the judiciary.

The Responsibility of the Shipping Agent and Carrier

Returning to the world of logistics, a fascinating case in 2024 involved Haesim Trading Co., Ltd. and a shipping agent, Company U2. Haesim had paid 76,015 USD for a shipment of seafood that never arrived. It was discovered that the seller (Company S1) had committed fraud. However, Haesim also sued the shipping agent, Company U2, because their employee had signed the Bill of Lading (B/L) confirming the goods were on board when, in fact, they were not.

The court held that the shipping agent, by signing the B/L, had provided the seller with the instrument necessary to commit the fraud and obtain payment under the Letter of Credit. Therefore, the shipping agent was held jointly and severally liable with the fraudulent seller to refund the money to the buyer. This underscores the massive liability that logistics providers face in Vietnam and why they require sophisticated 100% international law firm in Vietnam level of compliance and risk management.

Conclusion: The True Cost of Legal Expertise

Is the highest paid lawyer in the world expensive? If you measure their fee against the cost of a lost factory, a stolen trademark, or an unenforceable multi-million dollar arbitration award, the answer is a resounding “no”. In the complex, high-growth environment of Vietnam, legal counsel is not a luxury; it is a critical infrastructure for business. Whether you are seeking a lawyer in hanoi for a government-facing regulatory matter or a law firm in ho chi minh city to handle a global M&A deal, the expertise of an international law firm in Vietnam like Unilaw ensures that your interests are protected by the full force of the law.

From the strict application of the CISG in tuna exports to the recognition of ICA cotton awards, and from the protection of software copyrights to the enforcement of information rights for company members, the law is a powerful shield and a sharp sword. The best lawyers in the world are those who know exactly when and how to use it.

How the profession is regulated, and what engaging counsel involves, is set out on our page for attorneys in Vietnam.