Michael Hardy is a partner in the Hong Kong office of Latham & Watkins. He is a member of the Derivatives and Structured Finance Practices. 

Mr. Hardy advises on a range of structured finance and derivatives transactions, including securitizations, structured credit and equity derivatives, securities lending and repo arrangements, repackagings, and structured hedging arrangements. His clients include asset accumulators / private equity funds, banks, other financial institutions, and financial market infrastructures (FMIs). He also advises in relation to regulatory capital, insolvency issues, clearing documentation, netting arrangements, derivatives regulation, and recovery and resolution. Mr. Hardy regularly speaks at derivatives and securitisation industry conferences, seminars, and meetings.

Mr. Hardy's recent transactional experience includes advising:

  • Bayfront Infrastructure Management Pte. Ltd in relation to its fourth infrastructure asset-backed securities (IABS) issuance through Bayfront Infrastructure Capital IV Pte. Ltd, in which four classes of investment grade rated notes listed on the SGX-ST (including a sustainability tranche), together with a mezzanine tranche guaranteed by GuarantCo, an investor preference share tranche and a sponsor tranche (US$410 million aggregate). This was Bayfront’s fourth IABS offering, building on the success of previous IABS in 2018, 2021, and 2022, all of which Latham acted on as drafting counsel. This transaction was awarded “Best Infrastructure Deal,” “Best Project Finance Deal,” and “Best Sustainable Finance Deal of the Year,” both for Asia and the Singapore market at the FinanceAsia Achievement Awards 2023
  • A leading international bank, as senior lender to two consumer loan securitization vehicles, in relation to the administration and restructuring of the originator, Neyber
  • Various lenders in relation to a range of structured sub-participation, LCDS, and first loss-guarantee arrangements
  • The joint lead managers and the underwriters of the issuance by Astrea V Pte Ltd of a US$600 million bond issuance backed by cash flows from a portfolio of private equity funds
  • A leading global commodities dealer in relation to a US$465 million structured multi-issuer commodities inventory securitization involving 15 jurisdictions
  • A leading sponsor in relation to the multi-tranche issuance of securities backed by a portfolio of project finance receivables
  • A leading Hong Kong property development group in relation to the group’s landmark residential mortgage warehouse program
  • An international bank in connection with a US$400 million trade receivables securitization program with 14 originators in 10 jurisdictions
  • A leading listed conglomerate in relation to a US$625 million structured pre-IPO exchangeable asset backed bond issuance
  • Leading financial institutions in relation to various structured equity financings using LMA/APLMA and ISDA documentation, including margin loans, collars, and a structured pre-IPO financing
  • Various lenders/arrangers/dealers in relation to a range of interest rate, commodity, FX, and other hedging arrangements (together with associated credit support and intercreditor arrangements), including structured deal-contingent hedging arrangements

Bar Qualification

  • England and Wales (Solicitor)
  • Hong Kong (Registered Foreign Lawyer)


  • BCL, Magdalen College, Oxford University, 2009
    with distinction
  • LLB, University of Queensland, Australia, 2008
    first class honors
  • BS in Software Engineering, Queensland University of Technology, Australia, 2003
    with distinction