The Legal 500

Within Banking and finance, Deacons is a third tier firm,

Hong Kong firm Deacons has a powerful presence in structured trade and real estate finance, as well as bank regulatory issues. Philip Gilligan has had considerable success in structured trade deals across Asia and even into Latin America. Simon Deane remains a prominent figure amongst the Hong Kong banking community, and Lam Wing Wo has developed strong connections to the major PRC banks.

Within Capital markets (equity), tier 4

Deacons does well out of advising second tier underwriters such as BNP Paribas and its large market share of mid-market deals. Much credit should go to the immensely industrious Ronny Chow. Chow and Sabrina Fung are regarded as ‘experienced securities lawyers’, who are ‘familiar with private, public securities transactions and Hong Kong law’. The firm recently advised PRC real estate developer Top Spring International on its $200m global offering.

Within Construction, tier 4

The ‘very efficient’ Deacons lost Geoffrey Shaw to Haley & Co. in association with Clayton Utz in 2011. Kwok Kit Cheung is now at the helm of the construction practice and is acting for the major subsidiary of a Hong Kong-listed company in defending a large claim, relating to a project in Dubai.

Within Corporate (including M&A), Deacons is a third tier firm,

Having worked on the Hong Kong elements of numerous international deals, Deacons continues to act for a range of Hong Kong-listed and international clients. It recently acted for Heineken-APB on its proposed divestment of its 21.37% stake in Kingway Brewery Holdings Limited. It also acted for Hong Kong-listed Minmetals Resources on its $1.85bn acquisition of Album Resources. Alexander Que, Eugina Chan and Rhoda Yung are all highly recommended. Clients highlight the ‘personalised service’ delivered on a ‘timely basis’.

Within Dispute resolution, Deacons is a second tier firm,

Deacons’ large and genuinely broad practice has experienced a considerable upswing in contentious regulatory and investigations work. The firm is working alongside a number of US firms in connection with these matters. Among a number of major Hong Kong cases, it acted for Chinachem Group in its headline claim against RCG Holdings. The department is ‘efficient’, ‘commercially astute’, and ‘technically able’. Standout partner Robert Clark has ‘sound judgment’, and ‘a grasp of the legal and commercial issues’. Other lead partners include the experienced and well-connected Daisy Tong, department head Joseph Kwan and rising star Richard Hudson.

Within Employment, Deacons is a second tier firm,

Deacons has ‘significant industry knowledge and a good team of responsive lawyers’. The group is led by the ‘particularly good’ Cynthia Chung, who is assisted by a team of disputes lawyers to handle contentious employment matters. Recent work includes advising a major international bank on a dispute with a number of staff over a change in its commission plan.

Within Insurance, Deacons is a first tier firm,

At Deacons, Christina Hung and Michael Turnbull lead the large team, which advises insurance and reinsurance companies on defence litigation work and professional indemnity claims. The client roster includes Essar Insurance Services, Royal & Sun Alliance, Aviva Life Insurance and Swiss Reinsurance. The group also has a depth of experience advising on personal injury matters, and is well known for its expertise in this arena.

Within Intellectual property, Deacons is a first tier firm,

Although widely recognised for its trade mark filing expertise, Deacons handles the whole spectrum of IP law across Hong Kong and China and is praised for its competitive fees. Led by Christopher Britton, the seven-partner group has seen an increase in privacy instructions and recently advised an internet search provider on such issues, as well as other licensing, copyright and general IP matters. Charmaine Koo is recommended for entertainment cases and has extensive experience advising on IP aspects related to the film, music and publishing industries. Lindsay Esler retired in December 2010.

Within Investment funds, Deacons is a first tier firm,

Praised for its ‘strong business model’, Deacons is best known for its longstanding experience in the retail funds arena, where the firm is considered to be the ‘market leader’ and ‘streets ahead’. With over 30 years’ funds experience, Rory Gallaher heads up the large team, which counts HSBC Structured Funds, Goldman Sachs (Asia), Look’s Asset Management, Schroders, UBS and Arcapita Group as clients. Gallagher and the team acted on the establishment of several private funds in 2010, including Violet Hill, New Alpha, Seres and Winnington Brands Fund. With expertise advising on PRC matters, Taylor Hui recently acted for the Haitong Global RMB Fixed Income Fund, the first-ever RMB-denominated fund outside mainland China. ‘Very good funds lawyer’ Susan Gordon has a ‘wealth of industry knowledge and understands what drives regulatory changes’, and has experience advising on MPF and retirement schemes. Jeremy Lam is recommended.

Within Private equity, Deacons is a third tier firm,

Deacons is recommended for minority investments in offshore structured Chinese companies. The firm is praised for its ‘superb’ responsiveness, its ‘professional’ dealings with counterparties, and ‘in-depth knowledge of offshore PRC-related transactions’. Sabrina Fung is ‘committed’, ‘proactive in problem solving’ and delivers ‘tailored solutions’.

Within Projects and energy, tier 4

Philip Gilligan leads the team at Deacons, which advises sponsors, investors and borrowers on global projects, Chinese water projects and carbon credit prepayment facilities in the region. It is advising a sponsor on two power projects in Timor Leste, and advising a new client on a mining project in Mongolia. The group is also representing the buyer and borrower on the first and second cross-border prepayment facilities for carbon credits in China.

Within Real estate, Deacons is a first tier firm,

Delivering ‘consistently accurate and reliable advice’, Deacons is ‘professional and prompt in its response’. The firm handles a range of real estate transactions, involving property management, stamp duty, compulsory sales, town planning, development and redevelopment, and terms of land grants. Lilian Chiang heads up the real estate group and maintains a top reputation in Hong Kong; she has ‘excellent commercial acumen, expert knowledge and always puts her clients’ interests as a priority’.

Within Regulatory, Deacons is a second tier firm,

Deacons’ regulatory practice provides excellent non-contentious advice, advising on takeover codes, listing rules and fund authorisation. Well-known for its depth of local experience, it is well placed to advise on Hong Kong regulatory issues. Also active in contentious matters, the team recently advised on a sensitive FCPA case, led by litigator Joseph Kwan. Kwan is also advising the former managing director of an investment bank in an appeal against an insider dealing case. Non-contentious partner Jane McBride heads up a separate team, which advises on SFC compliance and licensing matters.

Within Restructuring and insolvency, Deacons is a third tier firm,

Philip Gilligan at Deacons handles large insolvencies and restructurings, both in Hong Kong and further afield. The firm maintains a very established practice, and can call on a depth of cross-departmental experience. Litigators Robert Clark and Richard Hudson assist in contentious insolvency matters, including corporate and bankruptcy. The team continues to be involved in the Asia Aluminum insolvency, and is also acting for Deloitte in two instances - as provisional liquidators of the Norstar Group, and also as liquidators of a Hong Kong company. It is currently advising FTI Consulting (Asia) as provisional liquidators of a BVI-incorporated company with winding-up proceedings in Hong Kong.

Within TMT Other recommended firms

Within Tax and trusts, Deacons is a second tier firm,

At Deacons, consultant James Bertram leads the tax and trusts department. As a specialist in this area of law, Bertram has represented some of Hong Kong’s wealthiest families, assisting them with family trusts and estate matters and succession plans. For corporate tax, Sally Ip is recommended for both contentious and non-contentious issues. The team recently advised a US international hotel group on the tax aspects surrounding the reorganisation of its Hong Kong companies.