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YKVN

SUITE 1102, 235 DONG KHOI STREET, DISTRICT 1, HO CHI MINH CITY, VIETNAM
Tel:
Work +84 8 3822 3155
Fax:
Fax +84 28 3823 6902
Email:
Web:
www.ykvn-law.com
Hanoi, Ho Chi Minh City, Singapore

Vietnam

Banking and finance
Banking and finance - ranked: tier 1

YKVN

YKVN advises borrowers and lenders on significant project financings. Vu Dzung advised several Chinese banks (including China Construction Bank and the Industrial and Commercial Bank of China) on the $1.2bn financing of a 1.2GW coal-fired power station project in Hai Duong province, and assisted HSBC with a VND560bn loan to the Ngo Que 3 hydropower project. Hanoi-based Duong Thu Ha and senior associate Vu Dieu Huyen advised lenders including Vietcombank on a $435m facility provided to Hoa Phat Dung Quat Steel regarding a planned new steel plant, and assisted the same bank with a $139m facility for a residential project in Hanoi. Other clients include AB Bank, Korea Eximbank and Bank for Investment and Development of Vietnam (BIDV).

Leading individuals

Truong Nhat Quang - YKVN

Next generation lawyers

Vu Dieu Huyen - YKVN

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Capital markets
Capital markets - ranked: tier 1

YKVN

YKVN handles a range of work, covering equity and debt capital markets listings in Vietnam and elsewhere. Truong Nhat Quang advised State Capital Investment Corporation on its sale of a 5.4% stake in Vinamilk for VND11.3tn through an auction process on the Ho Chi Minh City Stock Exchange to Fraser and Neave – a transaction that required special permission for the buyer to place its deposit at the start of the sale process in US dollars rather than Vietnamese dong. Quang and the Singapore-based K Minh Dang assisted GIC with its role as a cornerstone investor in a private placement completed shortly before VietJet’s listing, as well as advising the same client on a pre-IPO investment in Novaland. Debt capital markets work includes Quang advising the Vietnamese government on local law issues pertaining to the issuance of dollar-denominated bonds listed on the Singapore exchange, and assisting the Masan Group with a planned issuance of unsecured bonds in Singapore. Duong Thu Ha has expertise in high yield issuances. Vu Dzung and senior associate Pham Hai Ly advised Argo Nutrition on two bond issuances totalling VND2tn.

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Corporate and M&A
Corporate and M&A - ranked: tier 1

YKVN

YKVN handles buy – and sell-side matters for local and foreign businesses, including advising on a notable volume of work for Vietnamese publicly-owned companies as well as assisting with the Vietnamese law elements of global deals. Vu Dzung and Le Thi Loc advised Central Group on the Vietnamese law aspects of a deal to purchase the Big C chain of retail stores from Casino Group for €920bn, and K Minh Dang, who is based in Singapore, and Phan Vinh Nhan are handling Shinhan Bank’s impending purchase of ANZ Bank’s Vietnamese retail banking operations. On the sell side, managing partner Truong Nhat Quang advised Masan Group and its subsidiary Masan Nutri-Science on a $250m equity investment by KKR.

Leading individuals

Truong Nhat Quang - YKVN

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Dispute resolution
Dispute resolution - ranked: tier 1

YKVN

YKVN handles a range of Vietnamese litigation but, in part, due to its presence in Singapore has a particular strength in international arbitration. A multi-partner team from the firm’s Singapore office including K Minh Dang, Do Khoi Nguyen and K Luan Tran defended, as sole counsel, several Vietnamese former Euvipharm shareholders in a dispute, which included Vietnamese, American and Canadian litigation in addition to arbitration in Singapore, arising from Valeant Pharmaceutical’s acquisition of a majority stake in Euvipharm; Valeant initiated an arbitration after the shareholders refused to have a put option bought out. Luu Tien Dzung represented Czech Export Bank in proceedings before the Vietnamese courts concerning the first-ever request for recognition of a foreign bankruptcy in Vietnam, which concerned a Vietnamese subsidiary of a company declared bankrupt by the Czech courts. Truong Trong Nghia contributes white-collar crime expertise.

Leading individuals

Truong Trong Nghia - YKVN

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Projects and energy
Projects and energy - ranked: tier 3

YKVN

YKVN’s K Minh Dang handled several matters for PetroVietnam, including advising on the implications of foreign contractors withdrawing from two offshore oil and gas blocks, and assisting with repatriating oil and gas assets from three liquidated Bermudan companies. Senior associate Pham Minh Thang is also noted.

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Real estate and construction
Real estate and construction - ranked: tier 3

YKVN

YKVN covers matters regarding megaprojects, as well as construction law issues. K Minh Dang and Le Thi Loc advised Keppel Land on a joint venture regarding a $1.2bn development in Ho Chi Minh City. In the real estate finance space, Duong Thu Ha advised Vietcombank on a loan concerning a residential project. Ian Fisher and Do Khoi Nguyen in the firm’s Singapore office handle Vietnam-related construction arbitrations.

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Further information on YKVN

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Legal Developments in Vietnam

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  • The Law On Price by Dr. Nguyen Anh Tuan, LNT & Partners

    On 6/20/2012, the National Assembly voted to adopt the Law on Price (the "LOP") in response to the public demand for an effective legal framework to control price manipulation from dominant enterprises such as gasoline, electricity, etc. The law will take effect from 01/01/2013 and repeal Ordinance No. 40/2002/PL-UBTVQH10 dated 26/4/2002 of the National Assembly Standing Committee (the "Ordinance"), which is conceived as outdated and containing certain provisions contravening the WTO’s regulation. This article describes the main features of the law and provides some insight into its potential impacts on the Vietnamese economy.