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

In early 2011, Cleary Gottlieb added a Hong Kong law practice to its range of offerings with the addition of experienced partner Freeman Chan from Norton Rose.

Clients have reacted to this development with enthusiasm. “The firm was always good,” says one client, “but it is changing for the better. The Hong Kong law practice is really going to make the firm stronger.”

In the last 12 months, the Cleary team represented underwriters Morgan Stanley and Citi in the Rmb1.2 billion (US$186 million) offering of US$-settled 10% senior notes due 2014 by LDK Solar. This was the first high-yield bond offering and the first Rmb-denominated bond issuance by a company in China’s solar energy sector.

The year 2011 has seen many changes for Cleary Gottlieb Steen & Hamilton. Veteran partner Freeman Chan recently joined from Norton Rose to help establish the firm’s new Hong Kong law capability. Partner Li Li also joined, and will serve as the new office director of Cleary’s Beijing office.

Cleary’s M&A partners have advised on a number of major mandates this year, such as continuing to advise a Chinese conglomerate on its proposed acquisition of a major Southeast Asian hotel and resort real estate development.

This past year was full of positive changes for Cleary, as experienced partner Freeman Chan joined the firm from Norton Rose to develop a Hong Kong law practice. Mike Preston was also promoted this year, and his experience on cross border private equity and M&As should make him a valuable asset.

One partner at a rival firm says: “Cleary is really getting stronger in the market with the addition of its Hong Kong law practice. It has really got a growing presence. Its cross border Korean practice is also particularly strong.”

This past year, the firm represented Hong Kong based ASM Pacific Technology on its acquisition from Siemens of Siemens Electronic Assembly Systems.