The China Law & Practice Awards 2016 fetes the industry’s finest
Sep 22, 2016
The tenth anniversary CLP Awards ceremony rewards winners in Beijing gala
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On September 21, nearly 200 leading legal professionals attended the tenth anniversary of the China Law & Practice Awards at the Park Hyatt Beijing.
The 2016 Awards received almost 1,000 individual nominations, the highest on record. As China’s regulatory regime continues to evolve—sometimes unpredictably—incorporating novel structures to deals and devising creative solutions to complex cases are crucial to stay ahead of the game. Innovation lies at the heart of these Awards.
The big winners included Zhong Lun Law Firm and Baker & McKenzie taking home the China and International Firm of the Year grand prizes, respectively, and Han Kun Law Offices being feted the Most Innovative Firm of the Year for its work in cutting-edge TMT and venture capital deals.
As for the ultimate award of the evening—the Firm of the Decade, a one-time, tenth anniversary special that seeks to recognize growth and international recognition achieved in parallel with China’s rise to the global stage over the past ten years—went to King & Wood Mallesons.
And commenting exactly on the nation’s legal development was former President of China University of Political Science and Law, Professor Jiang Ping, the China Law & Practice 2016 Lifetime Achievement Award winner. His speech was met with a standing ovation, with lawyers—with some of whom are ex-students—lining up to take photographs with the one of the nation’s leading legal scholars.
Thank you to all the teams that submitted information about their work and to everyone who spoke with the judges. We look forward to welcoming you back to celebrate your achievements next year.
Congratulations to all winners and finalists.
DEBT & EQUITY-LINKED DEAL OF THE YEAR
WINNER: Greentown China’s consent, exchange and new bond offering
Davis Polk & Wardwell Jingtian & Gongcheng Maples and Calder T&C Law Firm White & Case
This three-in-one deal combined consent from Greentown’s renminbi and USD bondholders, a concurrent offer to exchange the USD notes and a new money issuance of $500 million. The triple transaction was executed within a single timetable and was the first of its kind on the Hong Kong stock exchange.
Finalists:
Bank of China’s $3.55B four-currency bond China Exim Bank’s $6B loan-backed MTN program Ministry of Finance Rmb3B London panda bond State Grid’s $2.1B dual-currency four-tranche bond
ENERGY & NATURAL RESOURCES DEAL OF THE YEAR
WINNER: Hai Duong BOT power plant
Guantao Law Firm King & Wood Mallesons VILAF Watson Farley Williams
In its largest investment overseas to date, China Power Engineering Consulting Group Co. Ltd. signed an agreement with Malaysia’s JAKS Resources Berhad to construct a thermal power plant in Hai Duong using the build-operate-transfer model. The plant marked China’s biggest single investment in Vietnam and is one of the key projects of the Belt and Road initiative.
Finalists:
China Yangtze Power’s Rmb104B material asset restructuring Maamba coal power plant financing Pakistan wind power project financing Silk Road Fund’s $1.2B Russian LNG project
EQUITY DEAL OF THE YEAR
WINNER: Focus Media $7B backdoor listing
Fangda Partners Jingtian & Gongcheng
Focus Media Holding Ltd.’s Rmb45.7 billion backdoor listing on the Shenzhen Stock Exchange through Hedy Holding Co. Ltd., which followed its 2013 de-listing from the US, represented the first re-listing of a NASDAQ-listed company on the A-share market. This reverse merger is at the forefront of a significant privatization trend involving the US and Chinese markets.
Finalists:
China Huarong Asset Management $2.5B IPO China Merchants Rmb12B share exchange and listing China Re $2B IPO Dali Foods $1.15B IPO
FINANCE DEAL OF THE YEAR
WINNER: Bank of Dalian $2.3B restructuring financing
Guantao Law Firm Haiwen & Partners
Bank of Dalian, which was classified as high risk in 2014, brought on board China Orient Asset Management Corp. as a strategic investor to acquire its assets. The deal required substantial M&A, finance, restructuring and tax work in light of the necessary due diligence, complicated batching and disposal of risky assets, heavy negotiation and calculation of losses before enterprise income tax payments.
Finalists:
Beijing Enterprises-EEW €2.5B acquisition financing Norilsk Nickel Rmb5B syndicated revolving credit facility Weetabix $1.3B term loan B refinancing WuXi Pharma $1.1B LBO financing
M&A DEAL OF THE YEAR
WINNER: HP and Tsinghua’s $4.5B partnership
Allen & Overy AnJie Law Firm Fangda Partners Jingtian & Gongcheng Simpson Thacher & Bartlett Skadden, Arps, Slate, Meagher & Flom Zhong Lun Law Firm
Hewlett-Packard’s strategic partnership with Chinese Tsinghua University’s involved the latter’s subsidiary Unisplendour’s purchasing a 51% stake in a new business comprising H3C Technologies and HP’s China-based server, storage and technology services. This represented a rare instance of a U.S. tech giant opening a core business to a Chinese partner amid global cybersecurity concerns.
Finalists:
Alibaba’s $4.4B acquisition of Suning COSCO and China Shipping’s $15B restructuring Ctrip and Qunar’s $3.4B merger JP Morgan and Tencent’s $6.9B investment in Postal Savings Bank
REAL ESTATE & CONSTRUCTION DEAL OF THE YEAR
WINNER: Shanghai Disney Resort
Baker & McKenzie Guantao Law Firm Jin Mao Partners Paul, Weiss, Rifkind, Wharton & Garrison Zhong Lun Law Firm
The opening of the Shanghai Disney Park & Resort in June 2016 was the result of more than 10 years’ planning and structuring. Disney’s joint venture with Shanghai Shendi Group for this project was a milestone for foreign cultural import as well as the consumer market in China. It was the first theme park project of international standard, and required complex legal considerations in real estate, construction, M&A, IP and employment.
Finalists:
China Xintiandi’s sale of Corporate Avenue 1, 2 & 3 Cindat’s $571M acquisition of New York hotel portfolio GLP’s CLF II Fund
TMT DEAL OF THE YEAR
WINNER: WuXi Pharma $3.3B privatization
Cleary Gottlieb Steen & Hamilton Conyers Dill & Pearman Fangda Partners O’Melveny & Myers Skadden, Arps, Slate, Meagher & Flom Sullivan & Cromwell Walkers Weil, Gotshal & Manges Willkie Farr & Gallagher Wilson Sonsini Goodrich & Rosati Zhong Lun Law Firm
Innovative debt and equity structuring tools were employed in this take-private to facilitate a later A-share re-listing. This was one of the largest completed privatizations of a U.S.-listed Chinese company and among the most significant, particularly against the backdrop of the highly regulated biotechnology and pharmaceutical industry.
Finalists:
Bona Film $1B privatization China Tower $36.5B restructuring Qihoo 360 $9.4B privatization Youku $5.6B privatization
OUTBOUND DEAL OF THE YEAR
WINNER: CNRC’s $7.8B acquisition of Pirelli
Covington & Burling Freshfields Bruckhaus Deringer King & Wood Mallesons JunHe Pedersoli e Associati
This 100% acquisition of Italian tire company Pirelli & C. S.p.A. by the China National Tire & Rubber Co. Ltd. involved Italian, Hong Kong, Luxembourg and PRC laws, the structuring of multiple transactions, syndicated loans, multi-jurisdictional anti-monopoly reviews and the creation of holding companies in Hong Kong and Europe to obtain preferential tax treatment.
Finalists:
Bohai Leasing’s $7.6B acquisition of Avolon Chinese consortium’s $1.9B acquisition of OmniVision Dalian Wanda’s $3.5B acquisition of Legendary
CHINA DEALMAKER OF THE YEAR
WINNER: Yu Yongqiang (JunHe)
INTERNATIONAL DEALMAKER OF THE YEAR
WINNER: Jeanette Chan (Paul, Weiss, Rifkind, Wharton & Garrison)
AVIATION FIRMS OF THE YEAR
CHINA WINNER: King & Wood Mallesons
INTERNATIONAL WINNER: Allen & Overy
BANKING & FINANCE FIRMS OF THE YEAR
CHINA WINNER: JunHe
INTERNATIONAL WINNER: Kirkland & Ellis
CAPITAL MARKETS FIRMS OF THE YEAR
CHINA WINNER: Jingtian & Gongcheng
INTERNATIONAL WINNER: Clifford Chance
COMPETITION FIRMS OF THE YEAR
CHINA WINNER: JunHe
INTERNATIONAL WINNER: Linklaters
DISPUTE RESOLUTION FIRMS OF THE YEAR
CHINA WINNER: Zhong Lun Law Firm
INTERNATIONAL WINNER: Herbert Smith Freehills
ENERGY FIRMS OF THE YEAR
CHINA WINNER: King & Wood Mallesons
INTERNATIONAL WINNER: Herbert Smith Freehills
HEALTHCARE & LIFE SCIENCES FIRMS OF THE YEAR
CHINA WINNER: Global Law Office
INTERNATIONAL WINNER: Baker & McKenzie
INSURANCE FIRMS OF THE YEAR
CHINA WINNER: Jincheng, Tongda & Neal
INTERNATIONAL WINNER: Mayer Brown JSM
INTELLECTUAL PROPERTY FIRMS OF THE YEAR
CHINA WINNER: Fangda Partners
INTERNATIONAL WINNER: Hogan Lovells
LABOR & EMPLOYMENT FIRMS OF THE YEAR
CHINA WINNER: River Delta Law Firm
INTERNATIONAL WINNER: Eversheds
M&A FIRMS OF THE YEAR
CHINA WINNER: Fangda Partners
INTERNATIONAL WINNER: Simpson Thacher & Bartlett
PRIVATE EQUITY & VENTURE CAPITAL FIRMS OF THE YEAR
CHINA WINNER: Han Kun Law Offices
INTERNATIONAL WINNER: Kirkland & Ellis
PROJECTS & INFRASTRUCTURE FIRMS OF THE YEAR
CHINA WINNER: Zhong Lun Law Firm
INTERNATIONAL WINNER: Clifford Chance
REAL ESTATE FIRMS OF THE YEAR
CHINA WINNER: King & Wood Mallesons
INTERNATIONAL WINNER: Sidley Austin
REGULATORY & COMPLIANCE FIRMS OF THE YEAR
CHINA WINNER: Zhong Lun Law Firm
INTERNATIONAL WINNER: Covington & Burling
SHIPPING & MARITIME FIRMS OF THE YEAR
CHINA WINNER: King & Wood Mallesons
INTERNATIONAL WINNER: Watson Farley & Williams
TAX FIRMS OF THE YEAR
CHINA WINNER: Zhong Lun Law Firm
INTERNATIONAL WINNER: Baker & McKenzie
TMT FIRMS OF THE YEAR
CHINA WINNER: TransAsia Lawyers
INTERNATIONAL WINNER: Paul, Weiss, Rifkind, Wharton & Garrison
TRADE FIRMS OF THE YEAR
CHINA WINNER: King & Wood Mallesons
INTERNATIONAL WINNER: Steptoe & Johnson
UP-AND-COMING FIRM OF THE YEAR
WINNER: Jin Mao Partners
OFFSHORE FIRM OF THE YEAR
WINNER: Conyers Dill & Pearman
HONG KONG FIRM OF THE YEAR
WINNER: Deacons
MACAU FIRM OF THE YEAR
WINNER: Rato, Ling, Lei & Cortes Advogados
TAIWAN FIRM OF THE YEAR
WINNER: Lee and Li
JAPAN FIRM OF THE YEAR
WINNER: Nishimura & Asahi
KOREA FIRM OF THE YEAR
WINNER: Kim & Chang
AUSTRALIA FIRM OF THE YEAR
WINNER: Minter Ellison
SOUTHEAST ASIA FIRM OF THE YEAR
WINNER: WongPartnership
REGIONAL CHINA FIRMS OF THE YEAR
EAST CHINA WINNER: Llinks Law Offices
NORTH CHINA WINNER: Deheng Law Group
SOUTH CHINA WINNER: Guanghe Law Firm
WEST & CENTRAL CHINA WINNER: Solton & Partners
PRO BONO INTIATIVES OF THE YEAR
WINNERS: Hogan Lovells, JunHe, Zhong Lun Law Firm
LAWYERS OF THE YEAR
COMPETITION WINNER: Susan Ning (King & Wood Mallesons)
DISPUTE RESOLUTION—ARBITRATION WINNER: Xing Xiusong (Global Law Office)
DISPUTE RESOLUTION—LITIGATION WINNER: Xi Zhou (JunHe)
INTELLECTUAL PROPERTY WINNER: Simon Tsi (Chang Tsi & Partners)
LABOR & EMPLOYMENT WINNER: Jiang Junlu (King & Wood Mallesons)
PRIVATE CLIENT WINNER: Han (Antonio) Chen (Han Kun Law Offices)
REAL ESTATE & CONSTRUCTION WINNER: Wang Jihong (Zhong Lun Law Firm)
REGULATORY & COMPLIANCE WINNER: Eric Carlson (Covington & Burling)
TAX WINNER: Tony Dong (King & Wood Mallesons)
RISING STAR WINNER: Zheng Lu (Baker & McKenzie)
IN-HOUSE TEAMS OF THE YEAR
CHINESE COMPANY WINNER: Tencent
CHINESE FINANCIAL INSTITUTION WINNER: Anbang Insurance
INTERNATIONAL COMPANY WINNER: 3M
INTERNATIONAL INVESTMENT BANK WINNER: BNP Paribas
GRAND PRIZES
MOST INNOVATIVE FIRM OF THE YEAR WINNER: Han Kun Law Offices
CHINA FIRM OF THE YEAR WINNER: Zhong Lun Law Firm
INTERNATIONAL FIRM OF THE YEAR WINNER: Baker & McKenzie
FIRM OF THE DECADE WINNER: King & Wood Mallesons
CHINA LAW & PRACTICE 2016 OUTSTANDING ACHIEVEMENT AWARD
Professor Jiang Ping
China Law & Practice is proud to present the 2016 Outstanding Achievement Award to renowned legal scholar Professor Jiang Ping, for his remarkable impact on civil law and other fundamental PRC legislation.
Professor Jiang’s achievements in legal reform and tireless advocacy of the Rule of Law throughout his long career have earned global praise, with Forbes dubbing him “an icon of integrity and courage in China’s judicial system.”
One senior lawyer China Law & Practice spoke to emphasized that Professor Jiang’s “standing, vision, and persistence have inspired many legal professionals in China, and in turn have influenced the nation’s entire legal environment,” while another highlighted that “his fearless and progressive philosophy for the country’s legal framework has been recognized and commended not only in the PRC but also all over the world.”
A lifetime professor and former president of China University of Political Science and Law, Professor Jiang also serves as the vice president of the Beijing Bar Association, the chairman of the Beijing Arbitration Commission, and the president of the Comparative Law Institute of the Chinese Law Academy.
He is also the team leader of the Expert Drafting Committee on Civil Law and Property Rights Law and a former member of the National People’s Congress Standing Committee.
Professor Jiang’s knowledge and mentorship are also internationally sought after, for he has lectured at Ghent University in Belgium, the University of Rome II in Italy, Aoyama Gakuin University in Japan, Columbia University in the U.S., and a number of other reputable academic institutions.
His extraordinary accomplishments are perfectly in line with the mission of the China Law & Practice Outstanding Achievement Award. On behalf of China’s legal community, we are proud to extend this award to Professor Jiang for his efforts and contributions to building the PRC legislative backbone that we know and work with today.
For feedback on the China Law & Practice Awards ceremony or questions relating to the research or selection process, please contact the editor at [email protected]
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