21 March 2005 – LAWFUEL – The Law News Network – Global law firm Clif…

21 March 2005 – LAWFUEL – The Law News Network – Global law firm Clifford Chance scooped six prestigious awards, including International Law Firm of the Year, at the International Financial Law Review (IFLR) Asian Awards Ceremony at The Ritz Carlton Hotel in Hong Kong on 10 March 2005.

Now in its seventh year, the awards seek to reward – amongst other things – innovation, quality and commitment to the development of legal services in Asia. In addition to being the recipient of this year’s top award, Clifford Chance’s leading position in Asia was recognised when the firm garnered five other awards:
* Securitization Team of the Year
* Distressed Asset Team of the Year
* Securitization Deal of the Year – Hong Kong Link
securitization: we represented HSBC and Citigroup as Joint Lead Managers on the HK$6 billion securitization of the toll revenues generated by Hong Kong SAR Government-owned bridges and tunnels. This was the first transaction of its kind in non-Japan Asia.
* Distressed Asset Deal of the Year – Silver Grant: we advised
Citigroup on its acquisition of a strategic stake in PRC bad-debt specialist Silver Grant International Industries Limited, for the first time allowing a foreign investor to buy, and then sell, non-performing loans in the Mainland directly through privately negotiated transactions.
* Restructuring Deal of the Year – LG. Philips Displays N.V.:
we advised the Steering Committee of Lenders in the restructuring of LG. Philips Displays N.V.’s obligations pursuant to a US$2 billion facility, involving an significant restructuring of its operations and legal issues in 13 jurisdictions.
Jim Baird, Clifford Chance’s Regional Managing Partner for Asia, commented: “We are honoured that our innovation and experience in Asia over the last year have been recognised. Our success at these Awards reflect the high calibre of our Asian practice, and we look forward to continuing our
market-leading involvement in the Asia market.”

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