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

Lovells can boast an impressive deal list across leveraged buyouts, structured financings, syndicated lending and IPOs. The firm advised a consortium of lenders on a US$2.25 billion financing facility to China Huaneng Group for the funding of its acquisition of a stake in Singaporean company Tuas Power.

It also worked on the financing of Baring Private Equity’s US$360 million take private of Nord Anglia Education, acting for lead managers Credit Suisse, Barclays, Mizuho Corporate Bank and United Overseas Bank.

In capital markets, the firm obtained roles on several IPOs by Chinese companies, such as the US$133 million Hong Kong IPO by Chinese liquor distributor Silver Base Group. It also acted for Central China Real Estate on its US$176 million IPO sponsored by Morgan Stanley.

The firm’s capability was boosted by the lateral hiring of banking partner Owen Chan. Gary Hamp heads the banking practice and is supported in Beijing by partner Fred Chang. Jamie Barr and Terence Lau lead the capital markets practice.

Lovells has had an active year, representing clients in the real estate and energy sectors. It advised a consortium of lenders, including BNP Paribas, Calyon and DBS Bank, on a US$1.55 billion financing facility to China Huaneng Group for the acquisition of shares in Singapore company Tua Power.

And on the US$234 million acquisition of Nanjing International Finance Center by ARA Asia Dragon Fund, the firm acted as counsel to the seller China Merchants Property Development.

Beijing-based Robert Lewis heads up the firm’s China practice, with support from Michael Aldrich, Fred Chang, Thomas Man and Shanghai-based Andrew McGinty.

Lovells is regularly ranked in the top tier for IP in China, with its practice able to handle cross-border and domestic litigation enforcement, as well as technology transfer, licensing and other non-contentious matters. The firm’s particular strength is in patent litigation and counseling. Douglas Clark heads up the firm’s practice in Shanghai and is co-chair of the European Chamber of Commerce IPR Working Group in China and a member of the Asian Patent Attorney’s Association and INTA. He has advised Sony Computer, Nintendo and Microsoft on anti-circumvention cases, including obtaining simultaneous search and seizure orders and asset freezing orders. Beijing-based IP head Horace Lam acted for a large international agrochemical company to take civil, criminal and administrative IP protection and enforcement actions in China.

With several key additions to an already-solid team, the banking and finance practice at Lovells continues to impress upon the market its consistency as a quality capital-raising shop. It is particularly noted for its leveraged and acquisition finance expertise.

During the past year, Owen Chan and structured finance specialist Vincent Sum teamed up with Gary Hamp, Fred Chang, Neil McDonald, Jamie Barr and Terence Lau to provide clients with a formidable outfit. Highly favoured by Hong Kong players, the team won enviable mandates this year including the privatisations of PCCW and Nord Anglia Education. Main clients of the firm include HSBC, Barclays, Morgan Stanley, Bank of China and BNP Paribas.

Issuer mandates include advising on 2009’s first substantial IPO, the Silver Base Group Holdings’ US$133 million listing. The firm also advised Central China Real Estate on its US$176 million offering on the Hong Kong Stock Exchange. Other work includes acting for JPMorgan, Macquarie and UBS in relation to BBMG’s US$770 million Hong Kong IPO, as well as its role for the lead arranger in a US$113 million syndicate loan to Korea Exchange Bank.

Lovells has one of the largest regional corporate groups in Asia spread out over eight offices. With over 80 lawyers focused on cross-border M&A matters, the firm has handled a breadth of transactions including privatisations, disposals, joint ventures and numerous public and private M&As. For example, the Hong Kong team advised HSBC on the proposed US$2.1 billion privatisation of PCCW. Another highlight was acting for Hong Kong Electric on its US$733 million acquisition of Outram from Cheung Kong Infrastructure Holdings. Jamie Barr heads up the Hong Kong corporate team.

Housing one of the largest IP groups in Asia of any international law firm, Lovells is known for its depth of practice – covering areas such as patent litigation, trade mark portfolio management, copyright, the protection of IP rights online and the relatively new area in Asia of competition law in relation to IP.

Matters that have kept the group busy over the last year include managing the global and regional trade mark portfolio for Prudential in over 200 jurisdictions. This includes the filing and maintenance of trade mark applications and registrations as well as opposition and cancellation actions in China, Vietnam, Malaysia, Philippines, South Africa, India, Bangladesh and Australia.

The firm also continues to act for Alibaba.com on domain name recovery and a range of IP issues including trade mark applications, trade mark infringement / passing-off actions and patent applications in Hong Kong and China. Other significant international clients whose global and regional trade mark portfolios are managed by Lovells include Toys R Us and Citigroup.

Key partners in the group include the very experienced Henry Wheare and Gabriela Kennedy.

Lovells has a recently formed finance group that provides premier legal advice in all areas with specialties in capital markets, project finance, and derivatives, structured finance and securitisation. Top lawyers Philip Hyde and Anthony Raven, who spent a year on secondment at Mitsubishi advising on energy projects before joining Lovells, lead the team.

Lovells boosted it’s M&A practice considerably this year by hiring corporate specialist Rika Beppu from Simmons & Simmons Tokyo and adding several new associates. The firm services clients such as SoftBank, Sojitz and Mitsubishi Corporation on a range of complex and challenging M&A transactions.

Lovells brings international insight to its Tokyo dispute resolution practice with a specialised and integrated bengoshi and international team. It provides clients with a full range of services including litigation, dispute resolution, arbitration and alternative dispute resolution. The practice serves leading domestic and foreign corporates on the entire lifespan of dispute matters, from offering advice about rights and obligations during early contractual difficulties through to conducting international arbitration of an unresolved dispute.

Hogan & Hartson’s Japan IP practice is part of its integrated Asia practice comprising Tokyo, Beijing, Shanghai and Hong Kong. The firm offers a full range of IP advice and has particular expertise in the technology sector and representing companies in complex patent cases. The practice has a strong track record of advising domestic corporates on matters such as patent and IP litigation, licensing negotiations, general litigation, opinions regarding infringement and validity issues, the prosecution of patent and trade mark applications, due diligence and patent portfolio analyses.

The team includes four registered US patent lawyers and litigators. Technology types the firm deals with include biology, biotechnology, business models, chemistry, computers, electronics, material science, mechanics, semiconductors, and software. Philippe Riesen heads up the office and has over 20 years experience handling patent and other IP matters.

Lovells’ Tokyo IP practice remains one of the market’s premier groups for top-quality contentious and non-contentious advice on patents, trade marks, designs, copyrights, trade secrets, unfair competition. The team consists of 23 members, including eight bengoshi and four foreign-qualified attorneys. Led by the noted Lloyd Parker and Eiichiro Kubota, the firm’s IP offering was strengthened last year after Kubota’s firm, Kubota Patent and Law Office merged with Lovells Tokyo in January 2008. The IP practice’s areas of advice are divided into four main areas: registration, commercialisation, enforcement and defensive strategies. Its clients include a broad range of international and domestic corporates such as Bridgestone, Toyo and Kao Corporation.

With an extensive track record of leading the charge on a number of groundbreaking cases, one example in particular brought the IP team into the limelight in a high-profile matter for PepsiCo. In this matter, Kubota and Parker advised PepsiCo on all the IP aspects of its strategic alliance with Calbee Foods. For the same client, the firm has been instrumental in all its trade mark work in Japan. Panasonic is another client of the firm and Parker recently led a team representing it on the registration of Panasonic’s trade mark for Panasonic’s new range of alkaline batteries.

Clients appreciate the service at Lovells Lee & Lee’s banking department. The firm advised Royal Bank of Scotland, HSBC, DBS Bank, Oversea-Chinese and Sumitomo Mitsui Banking as lead arrangers on the limited recourse financing of Genting International’s S$6 billion (US$4.4 billion) integrated resort in Singapore, Resorts World at Sentosa. The deal’s particular challenges included compliance with newly formed Casino Regulatory Authority requirements.

Another key deal saw the firm representing the lenders on the provision of bridge financing to China Huaneng Group for its acquisition of shares in Tuas Power.

Partners Ken Hawkes and Alex Wong were particularly commended by clients, who praised their responsiveness and understanding of their business, as well as their commercial and pragmatic advice.

Lovells Lee & Lee advised the vendors group – comprising PT Lumbung Artakencana, PT Alas Pusaka and a number of individual shareholders – on the US$607.5 million sale of nearly 90% of the shares of Bank Ekonomi to a wholly-owned subsidiary of HSBC. It was assisted on the deal by Indonesian law firm Makes & Partners.

Lovells can call on the experience of the Lovells network, including its large practice in Hong Kong. Highly-rated partner Henry Wheare leads the Vietnam team from Hong Kong, while Gregory Buhyoff is the on-the-ground leader. Recent cases have seen Lovells represent blue-chip clients like Anheuser-Busch, Ford Motor Company and Prudential Vietnam.