Latham Named Best International Law Firm for Restructuring & Insolvency in China

China Business Law Journal recently named Latham & Watkins the Best International Law Firm for Restructuring & Insolvency in its China Business Law Awards 2022. This honor stands among 12 awards the firm has received this year from the China Business Law Journal for our market-leading work in the Greater China region.

According to China Business Law Journal, as a Best International Law Firm, Latham “stand[s] out for the breadth and depth of their China practice. They bring together a wealth of international experience and top-class local expertise, and their success reflects the importance of long-term commitment towards building deep roots in the country.”

In the last 12 months, the Latham team, led by partner Howard Lam and associate Flora Innes, advised on many significant restructuring and insolvency matters, including representing:

• Huachen Energy, one of the largest privately-owned power generating companies in the People’s Republic of China, on the innovative restructuring of its New York law-governed US$500 million in senior notes, and the first-ever Chapter 15 recognition of a PRC reorganization plan in the US
• The ad hoc committee of bondholders in respect of the restructuring of China Fortune Land Development’s overdue debts (including interest) totaling US$6.45 billion
• The ad hoc committee of bondholders in respect of the successful restructuring of the US$500 million guaranteed senior notes of Dr. Peng Telecom & Media Group Co., Ltd, the largest private telecom operator and internet service provider in China
• The ad hoc committee of bondholders in respect of MIE Holdings Corporation, a leading independent upstream oil and gas company, in its debt restructuring completed in the first quarter of 2022
• The steering committee of noteholders in connection with the restructuring of senior notes issued by Hidili Industry International Development Limited, a coal mining company
• Hong Kong Airlines Limited and its affiliates on its proposed debt restructuring and turn-around of its Hong Kong-based passenger and cargo businesses.

The China Business Law Awards program is based on nominations from China-focused corporate counsel and legal professionals, as well as a survey of law firm clients on service satisfaction levels, and consideration of notable deals and other achievements. The recognition as the Best International Law Firm for Restructuring & Insolvency by the China Business Law Journal is in addition to being recognized as Top Tanked Restructuring Practice in China by The Legal 500 Asia-Pacific 2021 and Top Tier Restructuring Practice in Hong Kong by IFLR1000 2021. Latham advises international companies, financial institutions, and investors conducting business throughout Greater China and the rest of Asia. We represent the full array of stakeholders involved with financially distressed businesses, including debtors and issuers of both public and private securities, all types of creditors, equity holders, new investors, boards of directors, and senior management teams. Combining practical commercial insight and a nuanced understanding of today’s most innovative financial structures, we drive consensus and lay out a clear and confident vision for the best path forward.