The Legal 500

Within Asset finance, Clifford Chance is a second tier firm,

Clifford Chance’s asset finance practice is managed by consultant Paul Greenwell, with support from Simon Briscoe in Singapore. The practice has a niche in Japanese operating leases, and represents Air Hong Kong and Korean Air. The team advised BNP Paribas on a $750m export credit facility to finance the acquisition of A380s for Qantas.

Within Banking and finance, Clifford Chance is a first tier firm,

The ‘excellent’ practice at Clifford Chance has a strong track record in leveraged finance, pre-IPO work, and trade and acquisition financing. The team, led by Huw Jenkins, and with a key partner in Anthony Wang, has been strengthened by Matthew Truman’s appointment as partner and Andrew Hutchins’ move from London. The practice represents China Development Bank, Bank of China, HSBC and Credit Suisse, and handles debt financing in Macau.

Within Capital markets (debt and equity), Clifford Chance is a third tier firm,

Clifford Chance has a good reputation for its wide-ranging debt work, but has made efforts to boost its equity practice recently, advising global sponsor UBS on the listing of Silver Base Group for $133m. The practice heads are Alex Lloyd and the ‘outstanding’ Connie Heng, whom clients say is ‘our first choice lawyer’. The practice focused on liability management last year, restructuring Ferrochina’s notes and warrants, valued at $125m.

Within Corporate (including M&A), Clifford Chance is a first tier firm,

Clifford Chance has a host of standout partners, including practice head Roger Denny, recently appointed to the SFC Takeovers Panel, and Simon Cooke, who has transferred from London. Terence Foo, however, transferred to Beijing to bolster its mainland China presence. The practice offers ‘good quality work and value for money’, advising Morgan Stanley on the disposal of its $1.1bn stake in United Industrial Corporation. Chinalco, Bank of Tokyo-Mitsubishi UFJ and China Oilfield Services are also key clients.

Within Dispute resolution , Clifford Chance is a first tier firm,

Clifford Chance’s leading practice continues to have a ‘terrific name in the market’. The team has a following of loyal clients, who rate Martin Rogers and the ‘excellent’ team, alongside Brian Gilchrist and Elaine Chen, the latter joining in October 2008 from Mayer Brown JSM. In one highlight case, the team represented Sun Hung Kai Properties on proceedings to remove the company’s chairman and chief executive. Financial services regulatory work is still a focus and the team receives instructions from ABN AMRO, Bank of China (Hong Kong) and Morgan Stanley. Jim Jamison moved to the firm’s Tokyo office to spearhead the practice there.

Within Employment , Clifford Chance is a third tier firm,

Although not having a dedicated team, Clifford Chance makes use of Brian Gilchrist’s contentious capabilities and Kenneth Leung’s tax expertise. The team advised a private equity house on salaries tax matters and an educational establishment on misconduct issues. Jim Jamison has left for the firm’s Tokyo office to head the litigation team in Japan.

Within Insurance , Clifford Chance is a second tier firm,

Clifford Chance has a leading figure in Mark Shipman, who is ‘recommended for his non-contentious work’, while litigator Brian Gilchrist leads on the contentious side. The team suffered a blow when contentious specialist Alexander Gordon left for Stephenson Harwood & Lo. However, clients including AI and Swiss Re, instruct the team on dispute-related matters including professional indemnity defence work and D&O/fidelity claims work.

Within Intellectual property, Clifford Chance is a third tier firm,

Mayer Brown JSM has a focus on contentious work and China-related matters, representing clients from industries such as IT, entertainment, media, sports and arts. The firm opened a trade mark agency in Beijing in March 2009, where PRC trade mark, copyright and domain name registration matters are handled. Kenny Wong heads the team that carries out extensive trade mark portfolio and IP registration work for HSBC, Hang Seng Bank, Cathay Pacific Airways, Hong Kong Dragon Airlines and Procter & Gamble.Clifford Chance enjoys an excellent reputation for litigation work, advising chemical manufacturer Huntsman in a trade mark and unfair competition litigation, and advising SanDisk on its regional IP commercial activities and enforcement matters. The team, headed by experienced litigator Ling Ho, provides general IP advice to Goldman Sachs on an ongoing basis, and has gained Pfizer as a new client.

Within Investment funds, Clifford Chance is a first tier firm,

Clifford Chance’s wide-ranging practice has expertise in exchange-traded funds (ETFs) and structured fund products. The sizeable practice saw the relocation of Tokyo partner John Fadely, who ‘has particular strength in real estate funds’, and Matthias Feldmann’s promotion to partner, joining Mark Shipman and James Walker. Clients are ‘extremely impressed by their ability to keep all parties at the negotiating table’. The practice advised State Street Global Advisors on the authorisation and listing of the SPDR Gold Trust, the first gold ETF authorised by the SFC, and represented New City Asia Partners in forming an $810m real estate fund focusing on China, Japan and Korea.

Within Private equity, Clifford Chance is a first tier firm,

Clifford Chance continues to dominate this space, handling all aspects of private equity work, from fund formation to transactions, regulatory advice, debt finance and high yield issues. Clients recommend practice head Andrew Whan, and say the practice ‘provides immediate response times, in-depth industry knowledge, a strong team and good value for money’. The group advised CVC Asia Pacific on the sponsor-led privatisation of cosmetics company Natural Beauty Bio-technology, though the HK$2.4bn deal was eventually rejected by shareholders. The practice also acts for Apax Partners, Permira, MBK Partners, Carlyle, Affinity Equity Partners and Citadel. Huw Jenkins, Roger Denny and Simon Cooke, who relocated from London, are all recommended.

Within Projects and energy, Clifford Chance is a first tier firm,

Clifford Chance is ‘excellent’ in project finance, operating across power, oil and gas, mining, utilities and infrastructure, and clean energy. Geraint Hughes and Huw Jenkins lead the practice. The practice has been involved in several headline transactions: advising Chinalco on its proposed acquisition of Rio Tinto; EDF on its joint venture with China Guangdong Nuclear Power to construct and operate two nuclear reactors, one of the largest joint ventures in China to date; and China Development Bank as lead arranger of the financing for a new $11bn gas pipeline across Central Asia.

Within Real estate , Clifford Chance is a second tier firm,

Clifford Chance operates a banking and finance-focused practice, and has recently been busy with Japan-related financing matters. Huw Jenkins leads the Hong Kong team that acted as legal advisor to the West Kowloon Cultural District Authority and advised, among others, Bank of America, Barclays, and UBS regarding the “City of Dreams Macau” development.

Within Regulatory, Clifford Chance is a first tier firm,

Clifford Chance has one of the biggest practices in Hong Kong, acting for CITIC Pacific, Citigroup, Macquarie, Deutsche Bank, UBS, Morgan Stanley and Bank of China. Clients praise the lawyers’ ‘experience and expertise’, singling out Martin Rogers, who ‘has been in Hong Kong for a long time and is very up-to-date on the thinking of the local regulators’. Matthias Feldmann and Donna Wacker recently made partner, joining Mark Shipman. The team has been involved in several SFC investigations against financial institutions, and is drafting the regulations governing the new Hong Kong Mercantile Exchange.

Within Restructuring and insolvency, Clifford Chance is a first tier firm,

Clifford Chance has undergone some changes recently, with the retirement of Patrick O’Connor, though he still remains as a consultant, and promotion of litigator Donna Wacker 
and finance expert Matthew Truman as partners. The group is led by Scott Bache, and clients say he is a ‘fantastic lawyer - very commercial, practical and experienced’. The practice advised OK Springroll, a consortium of three private equity investors involved with Asia Aluminum’s extrusion business, on options regarding the company’s restructuring. The team also worked with Citicorp International and the lenders on the restructuring of a $160m syndicated loan to Superb Team 
and Changshu Everbright Material Technology, which was the first major restructuring involving foreign lenders to be subject to China’s new bankruptcy law. The team also advised the creditors, HSH Nordbank and a syndicate led by Calyon, on the insolvency of Oasis Hong Kong Airlines and recovery of five Boeing aircraft leased to Oasis. Clients testify that ‘their lawyers are top-notch’ and ‘the team is always very professional and has in-depth knowledge of restructuring and insolvency’.

Within Structured finance and securitisation, Clifford Chance is a second tier firm,

Clifford Chance has a number of individuals across the region that focus on securities and derivatives work, and is developing this further in China. Clients say the practice is ‘strong on derivatives’ and ‘excellent in all areas - their response times, business acumen, industry and legal knowledge are all very good’. Paget Dare Bryan and capital markets partner Connie Heng cover OTC derivatives and cross-border structured financings, with support from consultant Lena Ng in Singapore.

Within TMT , Clifford Chance is a third tier firm,

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.

Within Tax and trusts , Clifford Chance is a first tier firm,

‘One of the few in the very top bracket’, Clifford Chance work mainly for banks and accountants. Litigator Brian Gilchrist’s ‘quality and turnaround time of work’ represents ‘good value’. The team has been further strengthened by the arrival of the ‘particular impressive’ Elaine Chen inOctober 2008. Key areas of advice are contentious tax, trusts and probate, and administration. Recent instructions came from property developers, Hong Kong family trusts, and international stock exchanges. Clients are ‘very impressed’ with the dedicated team.