The Legal 500

Within Banking and finance, tier 5

Sidley Austin utitlises its strong background in structured finance and high yield debt to great effect. In Robert Mason, it also has a senior practitioner with genuine leveraged finance expertise. The firm recently advised Shimao Property Holdings Limited in relation to a $440m and a HK$156m multicurrency credit transaction.

Within Capital markets (debt), Sidley Austin LLP is a second tier firm,

Sidley Austin handles a high volume of high-yield bond offerings with Matthew Sheridan (‘the best’, ‘technically strong’) and Alexander Lloyd renowned for Southeast Asia and China real estate deals. The team is praised for its quick responses and ‘commercially sound’ advice. With more traction on the issuer side, it represented Evergrande Real Estate Group on its RMB9.25bn dual-tranche synthetic offshore Renminbi bond offering.

Within Capital markets (equity), Sidley Austin LLP is a second tier firm,

Sidley Austin has a large and established team of Hong Kong and US securities lawyers. It has worked on a high volume of Hong Kong listings including several headline IPOs such as the Hong Kong listing by Goodbaby International Holdings. The firm is principally known for mid-market deals. Contance Choy, Timothy Li and Alexander Lloyd are recommended.

Within Corporate (including M&A), tier 5

Though better known for its capital markets expertise, Sidley Austin is naturally well equipped in relation to M&A involving Hong Kong-listed companies. In this regard, Constance Choy is experienced.

Within Dispute resolution, Sidley Austin LLP is a third tier firm,

For Sidley Austin, contentious regulatory work is a key growth area following the recruitment of Alan Linning, the former head of Asia regional compliance at JPMorgan Chase and former executive director of enforcement at the SFC. The firm recently acted for Tiger Asia Management in headline proceedings brought by the SFC. The firm acts for many of the biggest names in the funds industry. Allen Kim and Hong Kong stalwart Charles Allen are the other lead partners.

Within Dispute resolution International arbitration, Sidley Austin LLP is a second tier firm,

For Sidley Austin arbitration is a key pillar of the dispute resolution practice, given additional weight by the relocation of Yang Ing Loong (‘well known’, ‘sensible’) to Hong Kong from Singapore. Allen Kim is another recognised arbitration specialist, particularly in disputes involving Korean parties, while Charles Allen is also a regular in arbitral proceedings. The latter recently appeared in a landmark case relating to sovereign immunity.

Within Investment funds, Sidley Austin LLP is a first tier firm,

‘Responsive and efficient’, Sidley Austin has a superb reputation for hedge funds expertise, and the team also advises on the fund formation of private equity, venture capital, RMB-denominated, real estate and infrastructure-based funds. The large team is led by the ‘very good’ Effie Vasilopoulos, who is rated for adopting a ‘strategic long-term approach’, and acts for China Investment Corporation, China Development Bank, and Japanese private equity fund manager JAFCO. Vasilopoulous led in advising Morgan Sze on the establishment of the Azentus hedge fund platform, and also advised the Bank of Communications in the launch of its first private equity fund in Asia and the establishment of a private equity management platform. Scott Peterman acts for Turiya Capital Management in the development of a fund, following an offer of $2.5bn of hedge fund securities. The team is praised for delivering ‘seamless client communication’ in multi-jurisdictional matters.

Within Regulatory, Sidley Austin LLP is a third tier firm,

A ‘top-quality law firm’ with ‘client-orientated service mentality’, Sidley Austin has regulatory expertise in the securities and banking sectors. A former director of enforcement at the SFC, Alan Linning wields ‘gravitas and credibility’ in the arena, and ‘combines technical strength, regulatory contacts and commercial reality for excellent results’. Linning is advising Tiger Asia in proceedings relating to alleged breaches of criminal provisions of the SFO, and also acting for a non-executive director in proceedings relating to breaches of the Hong Kong Stock Exchange listing rules.

Within Restructuring and insolvency, tier 4

Sidley Austin’s restructuring capability is led by corporate finance partners Matthew Sheridan and Gloria Lam. The firm focuses on providing advice on corporate restructuring issues for its client base of global corporates and banks.

Within Structured finance and securitisation, tier 4

Following a spate of departures, Sidley Austin was joined by new Asia managing partner Thomas Albrecht in June 2010, who relocated to Hong Kong from Chicago, and counsel Robert Mason. The team continues to build a presence in the arena, and has experience advising on covered bonds. In July 2010, the team acted for Standard Chartered and BNP Paribas as lead managers regarding Korea Housing Finance Corporation’s issuance of $500m covered bonds.