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  1. TMT
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Morrison & Foerster excel in advising on technology matters, where Japan is a key Asian market for the team of Nigel Stamp and Gordon Milner. It advised a Japanese investment house on technology matters in the APAC region, and on an IT outsourcing project to China. NetEase.com instructed the practice on its licensing and operation of the “World of Warcraft” online game, including PRC telecoms regulatory advice and the outsourcing of $100m data centre arrangements. Metro International, Dell China, Goldman Sachs and Nomura are on the impressive client roster.

Bird & Bird are an ‘obvious choice’ in the TMT arena, and dedicated technology specialist Marcus Vass, who gets ‘a fair bit’ of the market share, draws on the additional resource Grace Cheng in the Beijing office. TeliaSonera International Carrier were advised on telecommunication regulation issues, and the team acted for Liz Claiborne and its affiliates on a major outsourcing operation.

DLA Piper operates a combined TMT/IP practice, and clients rate co-heads of the team, Gigi Cheah and Justin Davidson, as ‘top’. The team covers a broad range of matters, recently a major IT outsourcing project and advice on telecommunications licence requirements. Symantec, GE Money, Wyeth Pharmaceuticals, Accenture and Boeing are clients of the team, that has been strengthened by the arrival of telecoms specialist David Olds.

Freshfields Bruckhaus Deringer receives praise for Connie Carnabuci who is a ‘very able lawyer with sterling clients’. Clients rate her as ‘among the best in the market’, acting for Hutchison Telephone and Hong Kong CSL in a dispute involving a contested competition appeal in Hong Kong. The transaction-focused practice often is instructed on major deals, among them the advice to Nomura on the separation and integration aspects of its Lehman Brothers acquisition in Asia.

Paul, Weiss, Rifkind, Wharton & Garrison traditionally enjoys a good reputation for telecoms transactions, but recently gained recognition in the media arena as well. The corporate driven practice has a ‘fantastic stable of clients’, and the team, led by the regarded Jeanette Chan, closely interacts with the firm’s China offering. Recent highlights include the advice to MIH China on an equity investment in a joint venture company with ADPG Media Group, and to Hutchison on the sale of its stake in Hutchison Essar to Vodafone.

Simmons & Simmons is known for the transactional advice given to major telecommunications companies, and the ‘highly responsive’ team ‘does not make a mountain out of a molehill’. Damien Bailey’s clients find ‘it is a huge comfort to know he is available’. Bailey advised PCCW on the sale of the Indian assets of Reach, and acts for China Telecom on all aspects of its non-PRC operations. Jodie Coutts left, to take up an in-house role.

Allen & Overy are known for their PRC work, where the team focuses on transaction related advice. Head of practice Will McAuliffe returned to Hong Kong from the Beijing office, and advised Macquarie Media on the sale of its 60% interest in Taiwan Broadband Communications. In another highlight, the team acted for the seller on a 47.58% indirect interest sale in Asia Television to Antenna.

Baker & McKenzie focuses on cross-border transactions and venture work. The team, headed by Nancy Leigh, has seen an increase in outsourcing and privacy work, and acted for China Network Communications and its subsidiary China Netcom on the proposed privatisation of PCCW. SK Telecom continues to instruct the practice, and AT&T is a client in outsourcing matters.

Clifford Chance focuses on telecoms transactional advice, with one highlight being the advice on a China-related merger and restructuring matter in the telecommunications industry. Corporate partner Cherry Chan is now one of the main pillars of the practice that suffered a major blow when Alison Lindsay left in June 2009, and it remains to be seen how the team manages to cope with the loss.

Herbert Smith can rely on a strong corporate client base, and built up significant expertise in the telecoms sector. Head of team Michelle Chan has been promoted to partner and works closely with Karen Yip in the Beijing office. The team advised TPG on its proposed acquisition of 45% interest in Hong Kong Telecom, and Fujitsu in relation to network procurement and maintenance arrangements in Asia. Telecoms disputes expert Stephen Crosswell is a consultant to the team.

Lovells has seen a growth in data protection and regulatory matters, and the team, closely linked to the firm’s highly praised IP department, displays a broad geographical and technical reach. Head of team Gabriela Kennedy advised clients such as Prudential, ExxonMobil, Anheuser-Busch, Alibaba, Deutsche Telekom and Oceanspray on domain name matters.

Pinsent Masons’ team, led by respected practitioner Peter Bullock, displays a ‘high level of knowledge’, drawing on the firm’s global resources. Technology importation has been a recent focus, and the team acted on claims arising out of delays in the delivery of a mobile network across Indonesia, also advising on a series of data centre outsources to banking and telecoms sector clients in Hong Kong. Clients praise the ‘excellent response times’.

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Legal Developments in Hong Kong

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Cayman Investment Company Obtains Chapter 15 Protection in the United States

    The United States’ Bankruptcy Court for the District of Delaware has recognised the liquidation of a Cayman company, Saad Investments Finance Company (No5) Limited (“SIFCO5”) (an SPV established to operate as an investment company), as a “foreign main proceeding” under Chapter 15 of the United States’ Bankruptcy Code.
    - Harney Westwood & Riegels
  • BVI to update Intellectual Property laws

    As the British Virgin Islands continues to play a vital role in facilitating global trade and investment, it turns its attention to helping its more than 60,000 new companies per year build a business environment where innovation can be a key economic driver. Towards this end, the BVI Financial Services Commission (the “FSC”), which is the public body with responsibility for, among other things, administering the intellectual property laws of the BVI, announced on 5 January 2010 the establishment of a Focus Group to review and revise the existing IP laws
    - Harney Westwood & Riegels
  • BRITISH VIRGIN ISLANDS CORPORATE ARRANGEMENT SCHEMES

    With a global economic downturn in full swing, companies around the world are looking for ways to safeguard their future existence. The strategies employed to do so are numerous and varied but a number of companies have employed the use of corporate arrangement schemes entered into with their creditors, investors and other stakeholders as a way to refocus and preserve their business.
    - Harney Westwood & Riegels
  • A Primer to Buying Securities Firms, Asset Managers, Insurers and Banks

    The meltdown in global financial markets has triggered a consolidation of the financial services industry as securities firms, asset managers, insurers and banks alike spin-off assets and restructure their operations to shore up capital. These transactions are often global in nature, involving substantial Hong Kong operations. In this article, we review the basic Hong Kong legal and regulatory framework for these transactions and present some lessons learned.
    - Timothy Loh, Solicitors
  • The PCCW Privatization: A Guide to the Applicable Law for Schemes of Arrangement

    Allegations of share splitting in the proposed privatization of PCCW have raised an important question as to how the statutory majority to approve a scheme of arrangement should be determined. This question is significant both in the short-term for investors trading PCCW and in the long-term in the context of future schemes of arrangement. In this article, we  examine the applicable laws and regulations with a view to providing hedge funds and other investors with guidance.
    - Timothy Loh, Solicitors
  • New Proposals to Regulate Mis-Selling of Investment Funds & Structured Products in Hong Kong

    The recent global financial crisis has resulted in an upswing in regulatory action throughout world markets. In Hong Kong, the Securities and Futures Commission (“SFC”) has proposed a slew of new requirements, some of which have already been implemented retroactively and without industry consultation. In this article we examine these ongoing developments in SFC policy and their effectiveness in reaching a fair balance between investor protection and costs to the investor and the financial industry.
    - Timothy Loh, Solicitors
  • Cross-border transactions and the advantages of using a BVI joint venture vehicle

    As cross-border transactions and international business partnerships become part of everyday life, parties are increasingly looking towards offshore jurisdictions for a neutral vehicle which can be tailored to all of the parties’ needs. This article will take a look at why companies incorporated in the British Virgin Islands (BVI) are suited for such transactions and, given the current economic climate, will also highlight some of the remedies available to a shareholder when a joint venture relationship takes a turn for the worse.
    - Harney Westwood & Riegels
  • The lender’s Holy Grail

    Indira Birkwood of Harneys outlines the advantages of using a BVI company for financing transactions
    - Harney Westwood & Riegels
  • THE USES OF VISTA TRUSTS

    The Virgin Islands Special Trusts Act, 2003 (" VISTA ") is now a little under 5 years old, having come into force in March 2004, and it is perhaps an interesting point to consider how the Act has been used and applied by the trust industry in the British Virgin Islands (" BVI ").
    - Harney Westwood & Riegels
  • Distressed Debt in Hong Kong: An Insolvency Primer for Private Equity

    Recent shocks to the financial markets as well as deteriorating economic conditions have brought insolvency issues sharply back into focus.  For some hedge funds and private equity funds, insolvency has come unwelcome in the form of the deteriorating financial condition of a portfolio company to whom loans have been made or whose debt the funds have acquired.  In this article, we review basic Hong Kong insolvency law concepts and outline debt recovery options.
    - Timothy Loh, Solicitors

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