Harneys wins ten Deal of the Year Awards from China Business Law Journal

Harneys has won ten 2022 Deal of the Year Awards from China Business Law Journal. This recognition highlights the exceptional performance of its team across Asia in a range of legal categories, including corporate, litigation, and restructuring.

Harneys has won ten 2022 Deal of the Year Awards from China Business Law Journal. This recognition highlights the exceptional performance of its team across Asia in a range of legal categories, including corporate, litigation, and restructuring.

Shanghai Managing Partner Vicky Lord commented: “We are extremely proud of this achievement. The awards recognise our firm’s commitment to delivering best-in-class legal services and expertise to our clients. At Harneys, we respond quickly to rapidly changing regional markets and continually strive to bring innovative offerings to clients in an increasingly competitive landscape. We thank China Business Law Journal for this recognition and our clients for trusting us with their instructions.”

The deals

• Sina Corporation privatisation-related Cayman proceedings: The largest s.238 litigation to date, both by value (US$12 billion) and by number of dissenters; also decided the new Cayman Islands law in relation to the determination of the valuation date, in Sina’s favour.
• KE Holdings' Hong Kong dual-primary listing: The very first company dual primarily listed in the Hong Kong Stock Exchange by way of introduction.
• Chinese internet and mobile security provider Qihoo 360 US$9.3 billion section 238 take-private: First trial of a Cayman Islands company that has delisted from the New York Stock Exchange and successfully relisted in the Chinese “A-share” market prior to the trial of the fair value proceedings in the Cayman Islands.
• China Mobile Communications’ US$8 billion A-share listing: First Hong Kong-incorporated, Hong Kong-listed company to have its shares listed on a stock exchange in mainland China.
• Chinese property developer RiseSun's scheme of arrangement in the BVI.
• Evergrande's US$19 billion restructuring of offshore liabilities.
• Ganfeng Lithium's US$960 million acquisition of Lithea.
• Luckin Coffee's restructuring: This was an innovative, complex restructuring given Luckin Coffee was balance-sheet solvency, but had difficulties to repay due to illiquid onshore assets and foreign exchange restrictions in China.
• NaaS merger with RISE Education to list on Nasdaq: This was the first successful overseas listing of a leading Chinese electric vehicle charging company, resulting in a combined valuation of over US$600 million.
• Samson Paper's US$385 million cross-border restructuring through Bermuda scheme of arrangement.

These China-focussed deals were led by partners in the Shanghai and Hong Kong offices, working in seamless collaboration with the teams in Bermuda, British Virgin Islands, Cayman Islands, and Luxembourg offices.

Every year, the China Business Law Journal gathers feedback from hundreds of in-house counsel and industry professionals, combined with the feedback from the editorial team, and puts together a prestigious awardee list.

The Harneys network is one of the largest among offshore law firms in Asia, and operates in mainland China under Aristodemou Loizides Yiolitis LLC, Shanghai Representative Office, a member of the Harneys Group. Harneys is the first offshore law firm with a full-service legal team on the ground in China with an experienced disputes team that focusses on offshore litigation, insolvency, and asset recovery; as well as a leading corporate team who advises on all aspects of capital raising and investment management. Offering both offshore legal and fiduciary functions, the Harneys Shanghai team is always committed to quality, unparalleled responsiveness, and client service.