GE news

The firms in the land of the long white cloud are powering through jittery markets with their own brand of legal excellence

A committee has been established by the Department of Justice (DOJ) to look into the viability of introducing a conditional or continGEncy fee system in Hong Kong. A public consultation process is expected to follow the review, in 2003.

The Working Party, headed up by Sit Fung Kwong & Shum consultant Sylvia Siu, was set up in light of concerns over rising court and legal aid costs, and parties going unrepresented.

The DOJ review follows the adoption of similar systems in other legal jurisdictions around the world. The UK adopted a conditional fee system similar to the US continGEnt fee system in 1995, for personal injury, insolvency and human rights cases. It is believed the merits of the UK system are to be closely examined as part of the DOJ review.

News of the Government’s decision to consider the introduction of a ‘no win, no fee’ system in Hong Kong has received a mixed response.

The larGEr law firms argue that replacing fixed fees with continGEncy fees would eat into their profits and attack their bottom lines. The volume of litigation would also sky-rocket, they say.

Lawyers are predicting increased activity in the Hong Kong IPO market in the latter part of 2002, with the majority of listing activity expected to involve small and medium sized enterprises (SMEs).

Investor confidence in Hong Kong remains strong despite the persisting recession, with the level of equity raising at its highest since peaking in 2000.

Described as an English badGE, the select few UK firms considered part of the so-called ‘magic circle’, have the found that the term isn’t quite the stamp of approval in Hong Kong as it is in London. Stephen Mulrenan finds out why.

In the May issue of ALB, Lauren Scott examined China’s commitment to opening up its domestic legal services market from the perspective of foreign law firms, in light of the

For the second year running, WONGPARTNERSHIP has secured strong rankings in the annual Thomson Financial M&A Legal Advisor League Table Rankings.

The single larGEst industrial merGEr in Thailand since the 1997 Asian financial crisis, NTS Steel Group and Siam Cement’s steel producing facilities, closed. The restructuring and insolvency team at Freshfields Bruckhaus DerinGEr, Bangkok, advised Credit Suisse First Boston, as aGEnt to a significant number of noteholders.

Freshfields Bruckhaus DerinGEr is delighted to announce that Perry Noble has been appointed Managing Partner Asia. Perry will be replacing Ruth Markland and will be based in Hong Kong from September 2003.

Freshfields Bruckhaus DerinGEr has announced the launch of its ACT practice in China. Renowned China specialist Thomas E Jones will head the practice. In addition, partners Doug Markel (Beijing) and Carl Cheng (Shanghai) as well as a number of associates will be members of the group.

A three-year-old merGEr between White & Case Thailand and a local firm has ended in frustration and accusations.

Freehills has confirmed it is representing the Australian Gas Light Co (AGL)-led consortium that was this week knocked back by the ACCC in its A$3.5bn attempt to acquire Victoria's Loy Yang A power station.

Outsourcing document manaGEment to India is not a trend about to sweep law practices in the Asia-Pacific region...

Offshore financial centres have been under pressure from the OECD to tighten up their tax haven status and secrecy rules following the Enron debacle. Stephen Mulrenan examines the legitimacy of this

London-based Allen & Overy and Chicago-based Baker & McKenzie have both announced that they are outsourcing support services from their respective headquarters to jurisdictions in Asia.

The fate of Loy Yang A Power Station in Victoria is closer to being known, with the Federal Court shortly to rule on whether the Australian Gas Light Company's (AGL) interest in the A$3.5bn Great Energy Alliance Corporation (GEAC) bid for the power station is anti-competitive.

Australian Legal Business takes a look at the top deals of 2003 - and the lawyers who helped to make them happen

More than seven months after Great Energy Alliance Corporation's plans to buy Loy Yang Power fell foul of the regulator, the deal has at last been sealed.

Freshfields Bruckhaus DerinGEr has advised TOM Online on its spin-off from its Hong Kong parent and its HK$1.5bn (US$192.5m) IPO and dual listing on NASDAQ and the GEM.

Continued growth in the private equity market in Australia is prompting firms such as Clayton Utz to ramp up their investment in the area, with recent deals sugGEsting it's on a long-term upward trend.