THE FIRM White & Case is another market leader for projects work. It demonstrates excellent project financing capabilities, with a strong bank-side client base including Chinese, regional and international lenders. Alongside its top-tier energy projects practice, the team also assists lenders on infrastructure projects such as water, housing and natural resources. The team is well versed in non-finance work, and was instructed by LDH Energy and Saudi Aramco on the formation of joint ventures in China and Saudi Arabia. Highlights include acting for Saudi Aramco on its USD8.5 billion YASREF joint venture with Sinopec, involving the construction of a grassroots full conversion oil refinery in Saudi Arabia.
Sources say: “I’m very satisfied with the team. It’s everything I expect from this level of international law firm – and my expectations are pretty high.” “The transaction may be complicated, but they have the attitude to solve the problem.”
KEY INDIVIDUALS Steve Payne advises on both project development and finance, and acts for both sponsors and lenders. His clients explain that “he’s more than a lawyer, he’s an adviser. I would be totally lost without his instinctual approach to projects work.”
Li Xiaoming is a highly reputed banking and finance lawyer, who is well versed in project finance work. He continues to work with China Development Bank, recently on a major project financing deal in South America.
Hallam Chow has been very active in the projects space, and advised Asian Development Bank on an innovative water infrastructure financing in China. “Hallam is constructive and conscientious, and in every way a very dependable adviser. He brings to his work a genuine spirit of creativity. I recommend him without the slightest hesitation,” one source enthused.
Counsel David Li’s practice covers capital markets and financing, and has been involved in major water infrastructure financings of late. His clients note: “He’s internationally trained, but also knows China well. He is somebody I can rely on.”