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  • 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

  • May 20, 2013 |

    Hong Kong ranks third most popular destination with expat lawyers - survey

    Hong Kong is the third most popular destination in the world for expatriate lawyers, according to a new report commissioned by business school ESCP Europe and recruiter Hydrogen. Some 9% of legal professionals surveyed ranked the North Asian financial hub as their preferred relocation destination, beating Australia, which was the favourite of 7%, and Canada which was number one among 6%.

    1 minute read

  • May 15, 2013 |

    Raft of US firms score roles on AsiaInfo-Linkage take private

    A raft of US law firms have acted on the take private of AsiaInfo-Linkage, the latest Chinese company to de-list from a US bourse through a management buyout. The Chinese telecom software provider this week said it had accepted an offer to be acquired by a private investor consortium led by CITIC Capital Partners and AsiaInfo-Linkage co-founder Edward Tian, which values the company at $890m and would see it removed from Nasdaq.

    1 minute read

  • May 1, 2013 |

    Herbert Smith Freehills co-head of arbitration joins Orrick in latest exit

    Herbert Smith Freehills (HSF) has seen the departure of another senior partner, with the firm's global co-head of arbitration Charles Kaplan leaving to join Orrick Herrington & Sutcliffe. Kaplan, who is based in Paris, is top ranked by Chambers and Partners for international arbitration in France. He will join Orrick's Paris office as a partner in the next few weeks.

    1 minute read

  • April 16, 2013 |

    CC and A&O among international quartet on key Hong Kong IPO double

    Clifford Chance (CC) and Allen & Overy (A&O) have landed lead roles on two key Hong Kong initial public offerings (IPOs), working opposite US outfits Davis Polk & Wardwell and Kirkland & Ellis respectively. The planned listings of state-owned brokerage China Galaxy Securities Co and Sinopec Engineering (Group) Co, a wholly owned subsidiary of Asia's biggest oil refiner, Beijing-based Sinopec Group, are said to be the biggest IPOs in Hong Kong so far this year.

    1 minute read