Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

SyCip Salazar Hernandez & Gatmaitan is one of the premier firms in the Philippines and has vast experience with bond issuances and other banking and finance transactions. Clients and peers alike agree that SyCip is a top tier firm for both expertise and service.

In one landmark transaction, partner Jose Ma G Hofileña advised joint deal managers HSBC, BPI Capital, First Metro and the Land Bank of the Philippines in the Philippines’ largest bond swap programme. The government issued PhP200 billion (US$4.7 billion) in 25- and 10-year treasury bonds, which created a liquid long term benchmark that will assist the development of the domestic capital market.

Hofileña is a favourite of clients. “He possesses the most sophisticated understanding of project finance in the Philippines,” says one client. “When I work with him on international deals, people recognise him. He has a global reputation.”

“What I like about this firm is that it doesn’t use personal relationships or favours to get ahead, because those change,” says one client. “It relies on good work and the lawyers’ own personal knowledge.”

SyCip is the largest law firm in the Philippines, and one of the few with an international reputation. Clients particularly appreciate the firm’s emphasis on integrity.

A highlight for the firm is its representation of the Philippine Long Distance Telephone Company (PLDT) in its acquisition of 51% of the shares of Digital Telecommunications Philippines (Digitel). PLDT is expected to acquire Digitel for PhP74.1 billion, which is the largest buyout in Philippines corporate history.

The Philippines’ largest full service firm handles all types of real estate and construction issues, but focuses mainly on complex deals and transactions. Head of the practice, partner Emmanuel C Paras, leads most of SyCip’s important work in this area.

For example, Paras assisted a buyer in the closing of an agreement to purchase a power plant in Cebu Province. This included both the acquisition of machinery and the land lease for the site.

Partner Rafael L Encarnacion, who is a member of the firm’s corporate practice, advised a multinational company regarding a long term lease in Fort Bonifacio. This was for an office building that would include processing facilities and a call centre.

“SyCip Salazar Hernandez & Gaitmaitan’s litigation practice boasts high quality lawyers,” says one client. This year, the practice has advised such high profile clients as the US Government, Wyeth Philippines, Mitsubishi Heavy Industries and BMW Group Asia. The firm handles all types of disputes through its Manila, Cebu and Davao offices, but is especially known for product liability suits. Its international arbitration practice is also growing.

Given the increasing number of energy financing deals beginning in the Philippines, SyCip is at the forefront of much energy and natural resources work in the country. The firm is often first choice for multinational corporations and large domestic companies for its broad expertise and international name recognition. Key clients include Standard Chartered Bank, Peak Oil & Gas, BHP Billiton and GN Power Mariveles Coal Plant.

Partner Hector M de Leon Jr acted for Gold Fields on its US$349 million acquisition of 60% of the gold copper Far Southeast deposit of Lepanto Consolidated Mining. Partner Marilyn Aquino also acted for Philex Mining in the acquisition of 5% of Lepanto Consolidated Mining, worth PhP1.29 billion.

Premier Philippine firm SyCip Salazar Hernandez & Gatmaitan’s IP practice boasts one of the most impressive client lists in the country, comprising both domestic entities and multinational corporations that are household names. Clients include Pfizer, Colgate Palmolive, Abbot Laboratories, 3M, Merck, Sony, Revlon, Gap, Visa International and Max Mara Fashion Group.

Partner Enrique Manuel is acting for Gap, Accor, Marks & Spencer and Ramada, among others, regarding negotiation for franchises, licences and distributorship agreements for important brands making headway in the Philippines. Manuel is also acting for Chanel in scanning the local trade mark registry to ensure that marks similar to its trade mark have not been registered.

Sycip Salazar Hernandez & Gatmaitan features in the rankings again for its labour and employment practice. Clients, especially multinational companies, mention the firm’s “international reputation” as a key reason to instruct the firm. The expertise of its corporate practice, arguably the best in the Philippines, is also a factor behind its popularity. Aside from covering all typical labour and employment matters, such as employment contracts, due diligence and compliance, the human resources practice at SyCip also works on immigration law issues.

SyCip’s employment group has most recently acted for Sara Lee in relation to employment issues regarding its divestment of several Philippine household product subsidiaries.

SyCip’s enormous capabilities as one of the largest full service firms in the Philippines are evident in its shipping, maritime and aviation practice, which is led by partner Mia G Gentugaya. Due to its strong practice is nearly every practice area, SyCip is a leading choice for clients looking for financing or corporate expertise.

Gentugaya advised CIT Bank in the financing for the acquisition of two aircraft by Challenge Aero for US$24 million. The multi-jurisdictional nature of the transaction, which involved French, Philippine and US law, complicated this financing deal. Gentugaya and her team also assisted the acquirers in deregistering the aircraft.

SyCip’s tax practice has developed in tandem with its strong corporate practice and is well respected by peers and clients alike. The head of the tax practice, partner Rolando Medalla Jr, draws compliments from competitors for his “first rate knowledge and professional ability”.

SyCip’s broad offering of high quality practice areas has given the firm a legitimate ‘one-stop-shop’ reputation with clients. Its ability to handle tax issues in conjunction with other work, such as M&A deals, is outstanding. Notable clients that have utilised the firm’s tax capabilities include San Roque Power, Colgate Palmolive Philippines and Kraft Food (Philippines).