Clifford Chance frequently advises liquidators of companies, such as China Evergrande Group, on large-scale liquidations across a variety of sectors, including real estate, finance, and fashion, and the team also has a burgeoning crypto focus. Additionally, the firm is trusted by lenders to assist with debt recovery, acquisitions, and insolvency proceedings. Scott Bache, who routinely advises financial institutions, hedge funds, private equity funds, financial advisors, and turnaround professions, leads the practice from the Hong Kong office. Highly commended by clients, Phoebe Lo is well-regarded for work on non-contentious, complex cross-border mandates involving distressed outbound investments, while Soo Khim Keoy brings a depth of experience in contentious insolvency proceedings. Nikki Smythe joined in January 2024 from Herbert Smith Freehills Kramer LLP, and Donna Wacker departed in May 2025.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘The Clifford Chance restructuring team is a market leading practice, headed by industry leading partners and well supported by bright and hardworking associates.’
‘Scott Bache is a veteran who knows how to get results. Phoebe Lo is a leader of the future who is already making her mark.’
‘Full-service team with very transparent billing and communications. Top of the league for restructuring and insolvency cases in Hong Kong.’
‘Phoebe Lo is excellent, commercial in her approach and very experienced in working with insolvency practitioners.’
‘Scott Bache and Phoebe Lo are respected and excellent practitioners in the market. They are commercial and know how to manage stakeholders to get the job done.’
‘Scott Bache and Phoebe Lo are quality, respected practitioners in the R&I market in Asia.’
‘Phoebe Lo leads a fantastic team of very capable individuals who are a pleasure to deal with and very responsive.'
‘Phoebe Lo is going from strength to strength. She has always been commercially astute and a dynamic problem-solver. Innovative thinking on a number of large restructuring mandates and more recently increasing her public-speaking profile at industry conferences have solidified her position as a name to watch and that the Clifford Chance R&I team have a very bright future indeed.’
Key clients
- FTI Consulting
- Alvarez & Marsal
Work highlights
Assisted the joint liquidators of China Evergrande Group (being managing directors of Alvarez & Marsal) with their work on the liquidation of China Evergrande Group and its subsidiaries, with more than USD300bn in liabilities.
Acted for the joint official liquidators of Asia Private Credit Fund Limited, Adamas Asia Strategic Opportunity Fund Limited, and other related entities in a number of issues and proceedings arising in the context of their appointment.
Represented the liquidators of Gatecoin Limited in Hong Kong's first winding-up matter involving cryptocurrency and fiat currency assets, setting legal precedents of global significance in relation to the treatment of digital assets and creditors in winding up of crypto exchanges.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Practice head
Scott Bache
Other key lawyers
Phoebe Lo; Soo Khim Keoy; Nikki Smythe; Thomas Walsh; Yvonne Shek; Joe Osgerby-Lacey; Hinny Leung