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  • August 1, 2013 |

    Davis Polk rejects $1.4m headhunter claim over Hong Kong hires

    Davis Polk & Wardwell has dismissed a $1.4m lawsuit filed against it by Asian legal recruiter Alan Metz in New York on the grounds that his claims are "entirely without merit" and "fail as a matter of law". The US firm, which is being represented by disputes attorney William Gyves from Epstein Becker & Green, said it never accepted Metz's offer of recruiting services for the hire of former Clifford Chance Hong Kong litigators Martin Rogers and James Wadham last year, and is therefore under no legal obligation to pay him.

    1 minute read

  • July 25, 2013 |

    Davis Polk and Sidley act on China search engine giant's $1.9bn app store purchase

    Davis Polk & Wardwell and Sidley Austin have taken the lead roles on China search engine giant Baidu's $1.9bn (£1.2bn) buyout of app store 91 Wireless. Baidu is set to purchase the entire share capital of the Chinese app distributor as it seeks to boost its profile in the mobile internet market. Under the terms of the transaction, Baidu will buy a 57.41% stake in the company from parent and online game developer Netdragon and the remaining equity interest from other shareholders.

    1 minute read

  • July 18, 2013 |

    H1 2013 M&A review

    Halfway into the year, Legal Week looks back at the best deals from the past six months, with mandates for Davis Polk & Wardwell and Sullivan & Cromwell.

    1 minute read

  • July 11, 2013 |

    M&A activity levels continue to languish – but lawyers cling to hopes of deal revival

    "It's clear Europe is under-delivering, and it can't stay down for much longer." Speaking to Legal Week at the beginning of the year, Cravath Swaine & Moore EMEA M&A head Richard Hall expressed a view that many deal lawyers have shared for some time now. However, the months since have seen transaction activity levels across Europe fall lower still, with total H1 deal value down 23% on last year and deal volumes down 12% to 5,854 – the worst half-year for European M&A since 2010. The second quarter of 2013 was particularly sluggish, with just 1,140 deals, marking the quietest quarter for European M&A by volume since Q1 2010...

    1 minute read

  • June 27, 2013 |

    China giant breaks mould with tender for Western-style panel

    China Resources is set to appoint its first-ever roster of international law firms in a rare example of a major Chinese business adopting a formal panel approach. The state-owned conglomerate, which posted total turnover of HK$404.6bn (£33.8bn) in 2012, invited law firms to tender for places on its list of preferred international advisers at the end of last year, and is expected to announce the results in the next two months. The move follows the Hong Kong-headquarted company's establishment of a domestic panel for PRC advice last year, which saw Beijing's Anjie Law Firm – a 12-partner spinoff from domestic outfits Zhong Lun, Grandall and Mingtai – among those appointed.

    1 minute read

  • June 10, 2013 |

    Legal recruiter sues Davis Polk for $1.4m over hire of CC HK partner duo

    Davis Polk & Wardwell is being sued for $1.4m (£899,000) by a legal recruiter who claims he played a key role in the firm's hire of top-ranked Hong Kong litigation partners Martin Rogers and James Wadham from Clifford Chance (CC). Rogers - CC's former Asia-Pacific litigation and dispute resolution head - and Wadham were hired by David Polk last December.

    1 minute read

  • June 6, 2013 |

    International firms in Hong Kong put high-yield dim sum bonds on the menu

    International law firms in Hong Kong are picking up growing numbers of advisory mandates on high-yield dim sum bonds, following a surge in investor appetite for the product over the last quarter. Firms such as Linklaters, Davis Polk & Wardwell, Morrison & Foerster (MoFo) and Skadden Arps Slate Meagher & Flom are among the international players turning their attention to the market as a string of sub-investment grade Chinese companies consider new fundraising options. To date issuances of renminbi (RMB) denominated 'junk' bonds have been almost unheard of in the region, with the RMB bond market dominated by investment-grade issuers since the first dim sum bonds were issued by Chinese banks in Hong Kong in 2007.

    1 minute read

  • June 3, 2013 |

    Bingham takes Herbert Smith Freehills funds partner in London

    Bingham McCutchen has hired Herbert Smith Freehills (HSF) global funds partner Thiha Tun, in a rare lateral appointment for the US firm's City base. Tun, who will join Bingham in September, advises investment funds and investment management clients on private equity, real estate, infrastructure and hedge fund matters.

    1 minute read

  • May 30, 2013 |

    McGuireWoods and A&O advise on Man United debt refinancing

    US firm McGuireWoods has scored a major role in a debt refinancing deal for Manchester United opposite Allen & Overy (A&O). The firm advised Bank of America on a new committed term loan facility for the football club's MU Finance subsidiary, which is expected to cut the club's interest costs by around £10m a year. The proceeds will be used to refinance £177.8m of outstanding sterling bonds and $22.09m (£14.65m) of US dollar bonds. McGuireWoods advised Bank of America on the financing, with banking and finance partner Marc Isaacs and senior counsel Loy McKeithen leading in London, and Kevin McGinnis advising in Charlotte, North Carolina.

    1 minute read

  • May 23, 2013 |

    Dealmaker: Will Pearce

    The Davis Polk & Wardwell City partner on hard work, skinny jeans and Slaughters' pencil and biscuit offering

    1 minute read