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Paul Hastings

Hong Kong

  • 21-22/F Bank of China Tower
  • Hong Kong
  • China

Capital Markets - Asia-Pacific Region

What the team is known for A solid practice which is particularly busy in China and South Korea. Substantial equity team in Hong Kong that advises its corporate clients on a variety of matters including IPOs, rights issuances and H-share and REIT offerings.

Work highlights Advised issuers Mapletree Treasury Services and Mapletree Treasury Services Private, and guarantor Mapletree Investments, in relation to establishing a multicurrency guaranteed EMTN programme worth USD3 billion.

Advised COSCO Finance on a US dollar-denominated bond issuance, in the range of USD1 billion.

Notable practitioners 

Vivian Lam, Steven Winegar, Raymond Li and David Grimm are all key partners for capital markets in China. They are all based in the firm's Hong Kong office and cover work in both the debt and equity spheres.  

Significant clients Samsung Securities, Mingfa Group, Goldman Sachs, Citi, Nomura.

Corporate/M&A - Asia-Pacific Region

What the team is known for Possesses a strong base of regional clients especially from the energy and heavy-machinery industries. Frequent counsel to manufacturing clients on establishing joint venture platforms with foreign companies as well as international names on market entry strategies. Very adept at representing international real estate investors in China. 

What's new? Corporate partner Neil Torpey joined the firm's New York office from Hong Kong in 2013.

Work highlights Legal advisers to Shanghui International in its USD7.1 billion acquisition of the US-headquartered Smithfield Foods.

Represented Nomura and other mandated lead arrangers in the USD330 million acquisition financing of AsiaInfo-Linkage.

Notable practitioners  

Main client contacts for the Asia-Pacific practice include David Livdahl in Beijing, Daniel Kim in Seoul and Toshi Arai in Tokyo.

Significant clients Ninetowns Internet Technology Group, Shanghui International Holdings, Nomura, Ayala, AEON, Samsung Electronics.

Investment Funds - Asia-Pacific Region

What the team is known for A prominent firm for real estate fund matters in Asia and equally a go-to practice for relevant formation work. Attracts a strong following of Chinese clients thanks to its excellent reputation and long-standing presence in the region.

Strengths (Quotes mainly from clients)
Client service: "Paul Hastings provides excellent service. We are pleased to deal with such high-calibre professionals."

Work highlights Represented 'Real Estate Capital Asia Partners III' and investment manager SC Capital Partners in the establishment of a USD530 million fund focused on real estate investments in Asia.

Advised Arch Capital Management on setting up its new USD400 million real estate private equity fund, ARCH Capital-TRG Asian Master Partners.

Notable practitioners 

Chair of the Beijing office Joel Rothstein and Shanghai partner David Blumenfeld are key client contacts in China.

Banking & Finance - China

Basic facts about the department
- 8 partners

What the team is known for Has notable strength in project finance, acquisition finance and asset-based lending. Regularly acts on financing for real estate development in China.

Strengths (Quotes mainly from clients)
Market standing: "The firm's project finance strength has earned it a place in the market."

Expertise: "They work on behalf of some niche clients.

Work highlights Represented Forterra Trust, a Singapore business trust, on a USD650 million short-term loan facility financed by a Taiwan bank for a shopping centre development in Qingdao, in north China.

Acted for the mandated lead lender, ANZ, on a USD515 million loan facility. 

Notable practitioners  

Beijing-based Joel Rothstein stands out for his knowledge in structured finance and real estate work. He was instructed by Forterra Trust on a USD650 million short-term loan involving a real estate development in Qingdao.

Brett King is frequently instructed by banks, private equity funds and other sponsors on structured and leveraged financing transactions. A recent highlight was advising Chinatrust Commercial Bank as lead arranger on the financing of an LBO of Trimco International.

Significant clients China Everbright, First Gen, Sino-Ocean Land, Korea Trade Insurance.

Capital Markets - China

What the team is known for Advises on the full range of equity and debt issuances, with substantial expertise in yuan-denominated high yield bonds. The team also has a particular reputation for its work with PRC property company issuers.

What's new? Ren Zhaoyu was promoted to partner. 

Work highlights Counsel to Singaporean real estate developer Mapletree Investments on the USD1.3 billion IPO of its Singapore-based REIT, Mapletree Greater China Commercial Trust.

Advising Glorious Property on its USD250 million offering of senior notes.

Notable practitioners  

New York-admitted Steven Winegar was part of the team advising the underwriters on the USD215 million IPO of leading vehicle retailer Yongda Auto. He was also the lead partner advising sole bookrunner Goldman Sachs on Munhwa Broadcasting Corporation's USD52 million sell-down of shares in KT Skylife.

David Grimm receives particular praise for his high-yield expertise, although his experience also encompasses equity offerings and investment grade debt. Grimm plays a key role in many of the team's debt deals, including advising COSCO Finance on its USD1 billion issue of credit-enhanced, US dollar-denominated bonds.

Vivian Lam focuses upon cross-border transactions. She is praised for the breadth of her experience as well as her responsiveness.

Greater China practice chair Raymond Li gains plaudits for his strong working relationships with PRC regulators. He and Catherine Tsang were the lead partners advising Haitong International on its recent HKD1.17 billion rights issue, completed in April 2013.

Sammy Li was another member of the team on the Yongda Auto IPO. Peers praise his straightforward approach to issues.

Significant clients Deutsche Bank, Franshion Property, Future Land Development Holdings, JPMorgan, Morgan Stanley, Yuzhou Properties.

Corporate/M&A - China

What the team is known for Frequent counsel to a host of international companies entering the Chinese market. Provides advisory support in tax and employment matters besides transactional expertise. Also offers local competition and antitrust representation. 

Work highlights Advisers to China Media Capital, Shanghai Media Group and Shanghai Alliance investment on their establishment of a USD330 million joint venture with DreamWorks Animation, which will focus on the production of animated films and television content.

Legal representatives to Guangdong Nan Yue Logistics in its full acquisition of Guangdong Vehicles Transportation Group. 

Notable practitioners  

David Livdahl has sound expertise on a wide range of China-related matters. Over the past year he has assisted major multinational corporates with the establishment of joint ventures in China. Clients also turn to him for advice on CIETAC arbitrations.

Chair of the Shanghai office David Wang is highly rated for his strong execution skills on M&A deals. Besides his expertise in corporate transactions, he is additionally adept in serving private equity and venture capital clients.

Significant clients CDH Investments, China Media Capital, JPMorgan, Shaunghui International, Weichai Power.

Employment (International Firms) - China

Basic facts about the department
- 3 partners
- 2 associates

What the team is known for A broad practice in Hong Kong and China, covering M&A-related advice, general counselling and disputes work. Clients are typically active in financial services and the manufacturing industries.

Work highlights Conducted audits of employment documentation and policies for a number of technology and manufacturing clients, following changes to legislation in China.

Advised an electronics manufacturer in Hong Kong on administrative and legal proceedings concerning senior management and compliance. 

Notable practitioners  

Michael Downey has a long history of advising international clients across a wide range of industries. Downey is also widely respected by peers for his academic publications on employment law.

Ming Ho Gordon Feng continues to conduct a broad range of PRC employment law, with skills in compliance, developing employment policies, mass lay-offs, terminations and employee investigations.

Private Equity - China

What the team is known for Stalwart real estate private equity practice. Frequent advisers to funds clients making investments into significant property developments throughout China. Further experienced in joint venture formations and equity financing.

Notable practitioners 

David Wang impresses the market with his ability to offer bespoke private equity advice. He is praised for his commercial approach to issues.

Projects - China

What the team is known for Particularly active on projects related to the Philippines, having advised on a number of key infrastructure and power projects in the country. Counts major banks and corporates amongst its clientele.

Work highlights Acted for various project sponsors on the financing and construction of a number of solar power projects.

Acts on a significant multibillion-dollar infrastructure project in South-East Asia.

Notable practitioners 

Patricia Tan Openshaw continues to be a go-to name for projects work in the Philippines. She recently acted on a number of key power and infrastructure matters in this jurisdiction. Clients appreciate her commerciality and client focus.

Significant clients Ayala Corporation, SG Sustainable Oils, First Gas Power.

Real Estate - China

Basic facts about the department
- 18 qualified lawyers 

What the team is known for Well-established team with a strong and growing outbound finance practice, acting for a number of PRC developers. Also skilled in real estate M&A transactions and the full range of capital markets-related deals. 

Work highlights Acted for international developer Baha Mar Resorts in relation to the development of a resort, residential and commercial project in the Bahamas. The project is unusual in being owned by an international developer, financed by a Chinese bank and involving a Chinese construction and engineering contractor.

Advised Fortress Investment Group in relation to launching a new senior living facility and care business in China. This is on a joint venture basis with Fosun, a PRC investment company. 

Notable practitioners  

David Blumenfeld is a well-respected figure in the market. His strengths lie in cross-border joint venture and development transactions, cross-border debt and equity transactions and renminbi fund formation. He also has expertise in relation to hospitality matters, and is chair of the firm's Asia hospitality group. 

Joel Rothstein is praised by sources as being experienced and technically strong. He has played an important role in developing the firm's outbound practice with recent mandates including acting for Baha Mar Resorts on its major development in the Bahamas, financed by China Export-Import Bank. 

Derek Roth is well versed in fund matters and cross-border commercial real estate transactions, with clients in the last year including Global Gaming Philippines and Tan-Eu Capital. He is chair of the Hong Kong office.

Wayne Ma, of counsel, specialises in cross-border transactions, especially in real estate debt and equity, and joint venture and development projects. His highlight work includes acting for ANZ, the mandated lead arranger and bookrunner for a USD515 million loan facility in relation to a mixed-use property in Beijing.

Significant clients Fonterra Trust, Mapletree Treasury Services, Rose Rock Capital, UBS, Warburg Pincus. 

Restructuring/Insolvency - China

What the team is known for A significant presence in Greater China, with a particular focus on matters in the real estate sector.

Work highlights Advised various Lehman Brothers subsidiaries on the restructuring and disposition of several real estate assets, as a result of its ongoing bankruptcy and liquidation.

Notable practitioners

David Blumenfeld and Joel Rothstein are two key partners in the practice, and the main contacts for enquiries.

Significant clients ANZ, BNP Paribas, China Everbright International.

Projects - Philippines

Basic facts about the department
- 3 partners in the Hong Kong office
- 1 partner in the Tokyo office
- 4 other qualified lawyers in the Hong Kong office 

What the team is known for Acts for investors on a wide range of projects in the Philippines, with particular experience and expertise in handling transport and infrastructure projects. Works with an enviable base of significant clients. 

Work highlights Represented Energy Development Corporation in a USD175 million syndicated term loan facility, which was provided by Mizuho, ING, Standard Chartered Bank, Bank of Tokyo-Mitsubishi UFJ and Chinatrust Commercial Bank, among others.

Advised First Gen on its USD360 million acquisition of BG Group’s Philippines power assets.

Notable practitioners  

Hong Kong-based Patricia Tan Openshaw is noted for her experience in all manner of high-profile projects in the Philippines, and is well appreciated for her comprehensive and commercial approach. 

Significant clients Ayala, Deutsche Bank, First Gas Power.