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Work +852 2825 9211
Fax +852 2810 0431
Beijing, Guangzhou, Hong Kong, Shanghai

Philip Gilligan

Work +852 2825 9716

Work Department

Banking & Finance, Insolvency & Restructuring




Finance: Represents lenders and borrowers in secured and unsecured syndicated and single bank loan facilities in various countries in Asia, as well as shareholder financings, security arrangements, structured trade, commodities finance, asset finance, acquisition finance, securitisation and derivatives.  He also handles regulatory work including licensing and deposit protection.

Restructuring and Insolvency: Represents liquidators, trustees, creditors and debtors in upstream and downstream restructuring, bankruptcy and insolvency in Hong Kong, China and regionally, as well as debt trading and non-performing loan transactions, with particular experience in distressed banks and commodities companies/transactions, and acts as liquidator in members’ voluntary liquidations.

Projects and Infrastructure: Represents sponsors and lenders on the commercial and financing aspects of projects in various sectors (such as water, power, petrochemicals and industrial plant) throughout Asia (particularly Hong Kong, China and Indonesia) and globally.

Corporate Finance: Private M&A and private equity in North Asia, with a focus on financial services (including distressed banks), infrastructure and commodities.


English, Mandarin


Asia Pacific Loan Market Association

Restructuring and Insolvency Faculty of Hong Kong Institute of Certified Public Accountants

INSOL International


B.A. and M.A., Trinity College, Cambridge, 1986 and 1990, First Class Honours each year

LL.M., Trinity College, Cambridge, 1987, First Class Honours, First in Class

Hong Kong

Banking and finance

Within: Banking and finance

Independent Hong Kong law firm Deacons has a long history in the banking and finance sector, which has made it a first port of call for many multinationals (including a number of the largest companies based in Greater China) and financial institutions active in the Asia-Pacific region. On the transactional front, its team handles a varied workload spanning areas such as acquisition finance, structured trade finance, project finance, syndicated and bilateral lending. As a genuinely full-service banking practice, it also advises on anti-money laundering, data privacy, consumer protection and licensing (in relation to stored value facility providers, money brokers and money service operators), among other matters. The firm is also increasingly sought-after to advise on initial coin offerings and cryptocurrency issues. Team head Simon Deane, who has more than 30 years of legal experience, is a member of the Documentation Committee of the Asia Pacific Loan Markets Association (APLMA). Deane is also a member of the Hong Kong Law Society's Anti-Money Laundering Committee. Philip Gilligan and Teresa Lau are the other highly regarded partners in the group. In addition to generating standalone mandates, the firm's prominence in the market makes it a go-to for referral work from other firms, particularly where Hong Kong law expertise is required. Senior associate Farrah Lam is a name to note.

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Restructuring and insolvency

Within: Restructuring and insolvency

As the oldest and largest independent law firm in Hong Kong, Deacons has close ties with many IPs and funds, and also regularly receives referral work from foreign law firms with regard to the Hong Kong aspects of cross-border insolvencies. Particularly noted for his formal insolvency prowess, Richard Hudson is 'very competent and gets to grips with the key issues very quickly'. Hudson recently advised Rad Source Technologies in bringing winding up proceedings against its Hong Kong subsidiary in respect of unpaid debts. On the non-contentious front, Philip Gilligan regularly handles the Hong Kong aspects of international restructuring work and also has experience of handling debt trading and non-performing loan transactions.

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