harneys has bolstered its corporate practice with the appointment of william lee as a partner in its hong kong office.

william advises on a broad range of private and public market corporate transactions, including mergers and acquisitions, joint ventures, series financings, corporate restructurings, private and public equity and debt offerings, take privates, spac/de-spac transactions, and management/employee incentive schemes. his clients include leading private equity and venture capital firms, public companies listed in various jurisdictions, including hong kong and the us, large private corporates, and family offices. before joining harneys, william was a partner in the corporate team of another leading offshore law firm in hong kong, having previously worked in the corporate teams of mishcon de reya and collyer bristow in london.

paul sephton, hong kong managing partner at harneys, commented: "we are delighted to welcome william to harneys. his extensive experience advising on complex cross-border corporate transactions, combined with his strong relationships across the private equity, venture capital, and listed company sectors, make him a valuable asset to our team. william's appointment underscores our commitment to further strengthening our corporate offering and delivering first-class service to our clients across the asia-pacific region and globally."

william’s appointment follows several partner hires at the firm during the first quarter of this year, including wei lee lim, head of dispute resolution in singapore; esmond brown, part of the private wealth team in the cayman islands; katrina edge, head of banking & finance in jersey; and sabrina devenish, part of the litigation & insolvency team in dubai.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, bermuda, cayman islands, cyprus, jersey, and luxembourg corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys advised tapir holdings ltd., a bvi business company, on its admission to trading on aim, a market operated by london stock exchange plc, effective 11 march 2026. prior to admission, tapir’s shares were listed and traded on the bermuda stock exchange and will continue to be following admission.

tapir is a strategic investment company. its current sole asset is its 10.04 per cent equity stake (net of treasury shares) in rendeavour holding limited. rendeavour is a leading investor in east and west african urban development projects and is one of the largest diversified pan-african land platforms, focussed on providing high quality infrastructure, planning and urban management to create satellite cities in east and west africa.

as at 31 december 2024, rendeavour had majority ownership of companies with interests in investment properties with an aggregate fair value of approximately us$3 billion, as valued by independent external valuers for the rendeavour board of directors, and reviewed and adopted by the rendeavour board of directors in the accounts of the company for that year.

tapir’s investment strategy will include potential further investments in rendeavour and also in other related and unrelated development projects or quoted and unquoted companies with suitable synergy across africa.

the harneys team was led by counsel thomas dugdale, who provided bvi law advice, assisted by partner mary ward, who provided bermuda law advice.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, bermuda, cayman islands, cyprus, jersey, and luxembourg corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

cyprus: general business law

harneys cyprus has maintained its band 2 ranking in the chambers europe 2026 guide for the general business law category. the team continues to be recognised for its exceptional capabilities in syndicated financing and refinancing transactions, capital markets, and its ability to assist clients with large multinational acquisitions, divestments and mergers. chambers noted that “the firm delivers a deep knowledge and understanding of the business environment in cyprus and its complexities” and that “harneys aristodemou loizides yiolitis' lawyers are very collaborative, responsive and a pleasure to work with.”

partner nancy erotocritou continues to be ranked for her cyprus general business law practice. nancy is highly experienced in acting on debt capital markets and financing transactions on behalf of borrowers and lenders. she also assists with corporate restructurings, m&a and regulatory mandates. cyprus managing partner pavlos aristodemou has once again been recognised with chambers highlighting that “pavlos aristodemou has a deep commercial understanding,” recognising his strong client care and diverse practice encompassing refinancing, syndicate lending, and cross-border restructurings.

pavlos commented: “we are delighted to once again be recognised by chambers europe for our work in cyprus. we are proud to continue building on our strong reputation in the region and look forward to further growth in the year ahead.”

as a leading international multi-jurisdictional law firm with a physical presence in cyprus, harneys provides unrivalled service to clients throughout the world, particularly for complex and cross-border transactions. cyprus remains a premier hub for international business opportunities in the mediterranean and one of the top venues for the incorporation and establishment of businesses across europe.

jersey: trusts

in the chambers europe 2026 guide, katherine neal, jersey head of trusts & private wealth, has been recognised at band 2 for her trusts, employee benefits, employee incentives, and pensions expertise. chambers noted that “katherine neal is my go-to; there is no problem too big or small. i trust her implicitly and feel that our relationship is valued. she is at the top of my list of recommended lawyers.”

jersey managing partner, nicola roberts, commented: “we are thrilled that katherine's expertise in jersey trusts has been recognised in the chambers europe 2026 guide. katherine's ranking is well deserved and reflects her dedication and the outstanding service she delivers to her clients. our jersey office continues to go from strength to strength, and we look forward to the team's continued success and growth.”

this continued recognition for harneys across its cyprus and jersey offices underscores the strength, dedication, and deep knowledge of its teams globally. harneys consistently delivers progressive, innovative, and exceptionally responsive legal services to clients across multiple jurisdictions.

harneys has strengthened its litigation & insolvency practice with the appointment of sabrina devenish as a partner in its dubai office.

sabrina has over a decade of expertise in cross-border litigation, advising both private and sovereign clients on complex, high-profile disputes. her focus is on shareholder disputes, private wealth disputes, and disputes involving family offices and ultra-high-net-worth individuals across various industries and sectors. before joining harneys, sabrina was part of the international dispute resolution practice at two of the largest law firms in the middle east (international and national), where she focussed on the firms’ dubai, abu dhabi, and riyadh offices.

ian mann, dubai managing partner at harneys, commented: “we are delighted to welcome sabrina to our dubai team. her extensive experience handling complex, high-profile disputes for both private and sovereign clients, combined with her unique commercial perspective gained from her earlier career at a private equity firm, makes her an invaluable addition to our offering. sabrina’s deep expertise in shareholder disputes and private wealth matters will significantly enhance our ability to serve our clients across the middle east.”

sabrina’s appointment comes on the heels of the firm’s december 2025 launch of its dubai office, a significant milestone in its global expansion. it also follows the recent appointments of ilona groark, ben mccosker, and wei lee lim as partners in the firm’s growing dispute resolution team.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in some of the most significant global disputes, winning keynote victories for its clients and often helping shape the law.

harneys remains mindful of the uncertainty currently affecting parts of the region, and the firm’s thoughts are with those impacted. the team continues to support its clients, colleagues, and partners across the middle east during this period.

harneys has bolstered its banking & finance practice with the appointment of katrina edge as a partner and head of its banking & finance practice in jersey.

katrina brings over two decades of experience advising a broad range of local and international financial institutions, investors, and borrowers on complex cross-border financing and corporate transactions. her expertise spans real estate finance, fund finance, leveraged and acquisition finance, structured finance, and non-contentious restructuring and insolvency. additionally, she has extensive experience advising clients on establishing real estate holding structures and the acquisition and disposal of such structures. before joining harneys, katrina worked at another offshore law firm in jersey for over 20 years, where she most recently served as their global head of banking & finance.

nicola roberts, jersey managing partner at harneys, commented: “we are delighted to welcome katrina to harneys. her exceptional track record and experience advising on complex cross-border financing transactions make her a tremendous asset to the jersey team. as the new head of banking & finance in jersey, katrina will play a pivotal role in further strengthening our offering and delivering first-class service to our clients across the full spectrum of banking and finance matters.”

katrina’s appointment follows the firm’s july 2025 opening of its jersey office, which marked a significant expansion of its global footprint. the firm’s jersey team offers a comprehensive range of legal services, including litigation & insolvency, restructuring, regulatory, corporate, banking & finance, and trusts & private wealth.

the firm’s banking & finance practice group has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah-compliant finance, distressed debt, and enforcement of security and derivatives.

harneys has won 11 deal of the year awards from china business law journal, highlighting its exceptional performance in categories, including corporate and restructuring.

the deals

newborn town’s hk$1.983 billion buyout of nbt: acting as cayman counsel to newborn town inc in relation to its acquisition of all shares of nbt social networking by issuing new shares to nbt's existing shareholders and making cash payments. the total valuation of nbt is approximately hk$5.1 billion. the new shares were issued on the hong kong stock exchange.

dualitybio's hk$1.64 billion hong kong ipo: acting as cayman islands counsel to duality biotherapeutics, inc. in connection with its global offering and listing on the main board of the hong kong stock exchange, with total proceeds of approximately hk$1.64 billion.

grandblue hk$11 billion privatisation of canvest: acting as cayman islands counsel to grandblue environment in connection with its privatisation transaction of canvest environmental, a listed company on the hong kong stock exchange. grandblue acquired approximately 92.78 per cent of canvest's shares for approximately hk$11 billion.

haitian hk$10.1 billion hkex ipo: acting as the bvi counsel to foshan haitian flavoring and food co ltd. on its groundbreaking global offering and listing on the main board of the hong kong stock exchange ltd, which raised approximately hk$10.1 billion. this deal became one of the largest ipos on the hong kong stock exchange in 2025.

jd us$520 million privatisation of dada nexus: acting as cayman islands counsel to jd.com, inc in relation to the us$520 million going-private transaction of dada nexus limited, china’s leading local on-demand retail and delivery platform.

kaisa offshore debt restructuring: acting as cayman islands and british virgin islands counsel to kaisa group holdings ltd. on its successful restructuring of approximately us$12.3 billion in offshore debt – the largest offshore debt restructuring of a chinese real estate company that has been sanctioned to date.

logan group onshore and overseas debt restructuring: acting as offshore counsel for citicorp, in its capacity as trustee of the 5.75 per cent senior notes due 2025 issued by logan group, a hong kong-listed prc property developer. the matter involved logan group's offshore debt restructuring of approximately us$6.6 billion.

new world development's hk$88 billion refinancing: acting as british virgin islands and cayman islands counsel to new world development company limited in connection with its historic hk$88 billion financing transaction, one of the largest ever in hong kong’s real estate sector.

sf holding hk$5.83 billion hkex ipo: acting as british virgin islands and cayman islands counsel to sf holding, asia’s leading logistics provider, in its groundbreaking global offering and listing on the main board of the hong kong stock exchange. the listing raised approximately hk$5.83 billion.

sunac offshore onshore and overseas debt restructuring: acting as offshore counsel for the ad hoc group of bondholders of sunac china, a hong kong-listed property developer in the prc, in relation to sunac china’s financial restructuring of its offshore liabilities amounting to approximately us$10.2 billion.

yuzhou group offshore debt restructuring: acting as cayman islands counsel for yuzhou group in relation to the successful restructuring of its us$6.7 billion offshore debt liabilities.

shanghai managing partner vicky lord commented, “we are delighted to have received 11 deal of the year awards from china business law journal, a significant achievement that highlights our commitment to delivering outstanding legal services and innovative solutions to our clients. these awards reflect the dedication and expertise of our teams, who continually rise to the challenges of dynamic and fast-changing markets. we thank our clients for their continued trust and support, and china business law journal for this recognition."

every year, the china business law journal gathers feedback from hundreds of in-house counsel and industry professionals, along with the editorial team's feedback, and compiles a prestigious award list.

the harneys network is one of the largest among offshore law firms in asia. it 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, including an experienced dispute resolution team that focusses on offshore litigation, insolvency, and asset recovery, as well as a leading corporate team that advises on all aspects of capital raising and investment management.

for the ninth consecutive year, harneys is proud to sponsor the cayman islands youth parliament (ciyp), a programme that empowers young people aged 15-25 to engage with democracy and parliamentary practices. this annual event provides participants with a platform to voice their ideas, debate pressing issues, and gain invaluable insights into the workings of the cayman islands parliament.

mr. kenneth bryan, chairman of the youth parliament programme, commented: “the ciyp provides an invaluable opportunity for young people to engage with and understand our democratic process. harneys ongoing support has played an important role in helping us sustain this programme and encourage youth participation in shaping the future of our islands.”

ben hobden and jessica williams, co-heads of the firm’s litigation & insolvency and restructuring teams in the cayman islands, presented the sponsorship cheque to the ciyp. jessica commented: “at harneys, we believe in investing in the next generation of leaders. the youth parliament is a powerful platform for young people to develop their skills, share their perspectives, and make a meaningful impact on their communities. we’re honoured to continue supporting this incredible programme.”

harneys is an international law firm, committed to making a positive impact in the communities where its team members live and work. through initiatives like the ciyp, the firm continues to contribute resources that foster growth, education, and leadership among local youth.

harneys continues to receive significant recognition in the chambers global guides with numerous band 1 rankings and individual lawyer accolades.

british virgin islands

the bvi team has retained its band 1 ranking for corporate & finance and investment funds. sources say the team “always proposes pragmatic solutions that mean we can close transactions”.

global head of the firm’s digital assets & blockchain sector, philip graham, maintains his band 1 ranking and is noted by clients for giving “comprehensive and clear advice on investments, regulations and licensing requirements in the bvi”. global head of corporate, george weston, and consultant michelle frett-mathavious are also ranked.

george is described by clients as a “well-respected industry expert” and “a lawyer with significant business acumen”, and sources say michelle is “an expert in her field”.

clients say the dispute resolution team “[has] a proven track record of managing complex derivative matters involving multiple jurisdictions”. band 1 partner claire goldstein is praised by sources as “a star of the bvi bar. she is highly approachable and also brings to the table a keen intellect as well as a strong sense of the way to run a case and the likely outcome.” partner christopher pease is also ranked.

clients describe christopher as “hugely impressive, commercially aware and knowledgeable”, with andrew noted by sources as being “well versed in liquidation, asset tracing, and insolvency matters involving multiple jurisdictions.”

uk – offshore: bermudian, british virgin islands, and cayman islands law

the london team retains its band 1 ranking for british virgin islands law. sources note that they are “incredibly flexible, commercial, and provide 24/7 service across their offices.” they offer “multijurisdictional advice all under one roof"; “their approach is succinct and efficient, and they provide clear, concise, and commercially technical legal advice.”

partner john o’driscoll and global managing partner william peake are listed as cayman foreign experts, with london managing partner, rachel graham, listed as a bvi foreign expert.

john is noted for “acting for all parties to an insolvency, including creditors, debtors, and bondholders”, clients describe william as an “incredibly talented lawyer” who “distils complex data sets down to their bare essence with ease”, and sources say rachel provides “outstanding and responsive legal advice”.

asia-pacific region - offshore

six lawyers are featured across the hong kong, shanghai, and singapore offices, with the team being recognised for their “deep experience on complex transactions” and” good business acumen”. partner paula kay and shanghai managing partner, vicky lord, are ranked for their offshore disputes expertise. at the same time, singapore managing partner, lishi fong, global head of financial services, maggie kwok, partner raymond ng, and global head of banking & finance and corporate, paul sephton, are noted for their proficiency in the offshore corporate and finance, including investment funds guide.

bermuda, dubai, jersey, and luxembourg

bermuda managing partner, henry tucker; dubai managing partner, ian mann; partner stéphane karolczuk; and jersey head of trusts & private wealth, katherine neal, have been recognised in the bermuda disputes resolution guide, the offshore: united arab emirates guide, the luxembourg investment funds (expertise based abroad) guide, and the offshore: jersey guide, respectively.

henry is described by clients as “a professional and well-prepared attorney”, ian is noted as a “well-established offshore litigator” with a “distinguished reputation for handling high-stakes litigation”, stéphane is noted for “[acting] for a range of european investors on the creation of funds to invest in asian infrastructure projects”, and katherine is described by clients as “a safe pair of hands” and a “standout choice in jersey”.

cyprus

cyprus managing partner pavlos aristodemou and partner nancy erotocritou have been listed in the cyprus guide for general business law.

the team is described as “a multi-talented offering capable of assisting clients with large multinational acquisitions, investments, and the integration of subsidiaries”. they are praised for being “very collaborative, responsive, and a pleasure to work with”.

cayman islands

the cayman office received individual rankings across the corporate & finance, dispute resolution, and investment funds guides, with clients commending them for blending a “strong technical knowledge with a highly commercial and pragmatic approach”.

global head of the firm’s litigation & insolvency and restructuring groups, nick hoffman is noted by clients as “a very good advocate” and an “excellent team leader”.

partner jessica williams continues to climb the rankings in the dispute resolution guide, while partners ben hobden and james smith, and consultant gráinne king, maintain their rankings in their respective guides.

clients say jessica is a “terrific lawyer who is diligent and smart” with a “wide range of experience to bear on cross-border contentious matters, including litigation and trust matters”. sources say ben “is outstanding” and “very reliable”, james is praised by clients for his “strong technical knowledge, excellent commercial awareness and a clear understanding of our priorities”, and gráinne is described by sources as “excellent to work with, extremely knowledgeable in her advice and also commercial”.

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service, and rapid response. open, progressive, and personable, the firm provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda, anguilla, and jersey law to an international client base which includes the world’s top law firms, financial institutions, investment funds, and private individuals.

harneys advised gigcapital9 corp., a cayman islands exempted company, on its us$253 million ipo, which closed on 28 january 2026, and is listed on the new york stock exchange under the ticker symbol gixxu.

the ipo comprised 22 million units, priced at us$10.00 per unit, including the full exercise of the underwriters’ over-allotment option. each unit consists of one class a ordinary share and one right to receive one-fifth of one class a ordinary share.

harneys’ strategic alliance partner, harneys fiduciary – an ascentium company, provides cayman islands fiduciary services to gigcapital9.

led by chief executive officer and executive chairman, dr. avi katz, founding managing member of gigcapital global, and being the ninth private-to-public equity (ppe)™ of gigcapital global (also known as a special purpose acquisition company, or spac), the company has a duration of 24 months to identify and despac a technology, media and telecommunications (tmt) company, predominantly focusing on the aerospace and defense (a&d) sector.

harneys previously advised on the public listing of gigcapital7 corp. and gigcapital8 corp. and is advising on gigcapital7’s proposed us$1.2 billion business combination with hadron energy, inc.

the corporate team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys is pleased to announce the relocation of its hong kong office to alexandra house in central.

the hong kong office plays a key role in harneys position as a leader in the offshore legal industry and this move to the heart of hong kong’s financial district will strengthen its connectivity with clients and business partners. additionally, it will provide a modern, collaborative workplace that fosters teamwork and elevates client service.

new address:

14th floor, alexandra house
18 chater road
central, hong kong, sar

harneys remains committed to delivering responsive, innovative, and practical offshore solutions to its clients across asia and beyond.

harneys advised talon metals corp, a bvi-incorporated company listed on the toronto stock exchange, on its successful acquisition of lundin mining us ltd., a subsidiary of lundin mining that owns the eagle mine and humboldt mill. the transaction involved the exchange of 275,152,232 talon shares, increasing lundin mining’s ownership in talon from 1.57 per cent to 19.99 per cent of the outstanding talon shares on a non-diluted basis.

the harneys team was led by partner and global head of corporate george weston, with support from senior associate priya mattu and associate ki'eyra dawson. cassels brock and blackwell llp advised on the canadian law aspects of the transaction.

george commented: “we’re delighted to have worked with our longstanding client talon metals on this landmark acquisition of lundin mining us ltd. this deal showcases the strength of our team in handling complex cross-border transactions involving bvi companies. the acquisition of the eagle mine and humboldt mill is a major step forward for talon metals, and it’s been a privilege to support them in achieving this strategic milestone.”

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, bermuda, cayman islands, cyprus, jersey and luxembourg corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys has been recognised by law.com international as one of the top offshore firms with the highest number of active hong kong ipo deals, underscoring the firm’s ongoing role advising issuers and underwriters in the market.

the recognition follows law.com international’s coverage of hong kong’s listing pipeline, which notes strong momentum across the exchange and names harneys among the leading offshore advisers active on live mandates. the article, “as hong kong ipo applications soar, chinese law firms again dominate as international firm head count cuts take their toll,” by jessica seah, highlights 331 active ipo applications as of january 2026 and cites harneys’ participation in the surge.

hong kong-based partner raymond ng and shanghai-based partners jessie xu and lily zhang lead on the firm's hong kong ipo deals. commenting on behalf of the ipo partners, raymond said: "we are pleased to be recognised by law.com international for our active role across hong kong ipos. the pipeline is broad-based, and we are seeing sustained engagement from issuers and sponsors. our integrated offshore platform allows us to execute efficiently on complex, cross-border mandates and support clients from application through to listing."

with a high number of active deals in the current pipeline, harneys continues to support issuers accessing global capital through hong kong listings, reflecting the firm’s trusted position across complex cross-border transactions.

harneys’ corporate team regularly advises on all aspects of offshore capital markets matters, including ipos, secondary offerings, equity-linked products, private placements, and take-privates, for clients listing on exchanges in hong kong, new york, london, singapore, shanghai, and luxembourg.

harneys, a leading full-service offshore law firm, has announced the firmwide rollout of harvey as part of its broader ai strategy to enhance efficiency, consistency and client service, following a successful pilot across multiple practice groups and jurisdictions.

harneys is the first offshore law firm to deploy harvey across all of its offices globally for all employees. a key factor in the decision was the platform’s ability to support both transactional and litigation practices within a single, secure environment, enabling the firm to streamline internal processes while maintaining rigorous standards of confidentiality, risk management and professional oversight.

as part of the firmwide rollout, harvey will be used to assist lawyers with tasks such as navigating large precedent and document sets across jurisdictions, supporting drafting and issue identification, and improving turnaround times on complex matters, allowing lawyers to focus more deeply on exercising legal judgment and complex problem-solving. all use of the platform remains subject to harneys’ internal governance frameworks and lawyer review.

“during the pilot, we saw clear and consistent value across the firm,” said william peake, global managing partner at harneys. “there was strong adoption amongst all practice groups, meaningful time savings, and positive feedback from partners. harvey’s ability to support both transactional and litigation work within a single, secure platform reinforced our decision to proceed with a firmwide rollout.”

winston weinberg, ceo of harvey, said “harneys has been clear about its strategic objectives and the importance of responsible deployment and we are pleased to support the firm as it integrates ai into its existing legal workflows, with a strong emphasis on security, scale and professional oversight.”

harneys advised the special committee of the british virgin islands incorporated company emeren group ltd, together with morrison & foerster (as us and lead counsel), in relation to emeren’s recent take private transaction which saw it de-list from the new york stock exchange.

emeren group ltd is a global renewable energy company that develops, builds, owns, and operates solar power and energy storage projects. it focusses on the entire lifecycle of solar energy assets—including project development, engineering and construction (epc), financing, and electricity generation—while also offering battery energy storage solutions. the company’s portfolio includes a pipeline of solar and storage projects across north america, europe, and asia, and it generates and sells clean electricity both directly and through independent power producer (ipp) operations.

the harneys team was led by partner rachel graham with support from counsel james kitching, and associates reece de-vaney and lydia dunmore.

rachel commented: “having acted as bvi counsel for emeren for nearly 20 years, it was a pleasure to see this transaction complete. we worked closely with xiaoxi lin and the mofo team and look forward to continuing to advise the company on bvi law matters as a privately owned entity.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys singapore is proud to be recognised in the legal 500 asia-pacific 2026 rankings, maintaining its position as a leading offshore law firm in singapore.

managing partner lishi fong and partner nicola roberts continue to be recognised as leading partners, while partner jayesh chatlani is once again honoured as a next generation partner. the team is celebrated for its expertise across transactional, contentious, and private client matters, with particular strength in the cryptocurrency and digital assets sector.

clients have praised the team’s exceptional service, describing them as “collegiate, responsive, [and a] great team.” another testimonial highlights harneys’ unique strengths, stating, “harneys distinguishes itself through a combination of deep sector expertise, a client-centric approach, and a commitment to delivering tailored solutions.”

lishi commented, “recognition by legal 500 for our singapore practice is a reflection of the trust our clients place in us and the dedication of our team to delivering innovative and effective solutions. we remain committed to leveraging our expertise across offshore structures to meet the evolving needs of our clients.”

harneys singapore offers a full range of award-winning contentious and non-contentious offshore legal services including corporate, banking, investment funds, private wealth, trusts, dispute resolution, restructuring and insolvency in english, cantonese, and mandarin.

harneys has strengthened its private wealth practice with the appointment of esmond brown, who joins the firm as a partner in its cayman islands office, effective 5 january 2026.

esmond specialises in advising international high-net-worth individuals and families on wealth planning, as well as assisting trustees and private banks with all aspects of trusts, including their establishment, restructuring, administration, and succession planning. his expertise also extends to wills, probate, and estate planning matters. in addition to his non-contentious work, he handles contentious trust and private client applications in the cayman court. before joining harneys, esmond was a partner in the private client & trusts team at another leading offshore law firm in the cayman islands.

henry mander, global head of private wealth, commented: “we are delighted to welcome esmond to our team. his expertise and extensive experience will further enhance our ability to serve clients, not only across the americas region, but also globally. his dedication to excellence and his client-focussed approach align perfectly with our commitment to providing innovative and pragmatic advice.”

esmond’s appointment follows a significant wave of partner hires at the firm since the third quarter of 2025, including ilona groark, ben mccosker, and wei lee lim in the asia-based disputes resolution team, as well as stéphane karolczuk in the luxembourg funds & asset management and regulatory practices based in hong kong.

harneys’ private wealth team provides comprehensive advisory services to professional trustees, high-net-worth individuals and their families, financial institutions, and charities, covering the full spectrum of private client matters. the team works closely with their clients’ onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice. they ensure that the offshore elements of a structure are fully suitable and sufficiently flexible to adapt and evolve to clients’ changing needs.

harneys is pleased to announce the reappointment of nick hoffman as global head of its litigation, insolvency, and restructuring groups, alongside the appointment of maggie kwok as global head of its financial services group. both appointments are effective 1 january 2026.

nick has been leading the firm’s global litigation, insolvency, and restructuring practices since january 2024 and is also a member of the firm’s executive committee. he specialises in insolvency and restructuring, financial services litigation, company disputes, and fraud. his clients include banks, multinational corporations, and financial services professionals. nick has practised in the cayman islands since 2011 and is recognised as a leading cayman litigator.

maggie has been with the firm since 2018 and has successfully headed its asia funds and regulatory practice since 2020. in her new role, she will also lead the global funds & asset management team within the financial services group. maggie is highly regarded by clients and consistently recognised as an influential leader by notable directories. she has extensive experience in all aspects of fund formation, from the initial conception of the investment strategy to the drafting of fund launch documents. she is also knowledgeable in downstream investments, such as venture capital and private equity transactions.

global managing partner william peake commented: “i would like to congratulate nick on his reappointment as global head of litigation, insolvency, and restructuring. over the past two years, nick has been instrumental in advancing the firm’s global dispute resolution strategy, and i am confident he will continue to lead the team to new heights. i would also like to congratulate maggie on her well-deserved appointment. i have been fortunate to work alongside her for many years, and her poise, resilience, and calm influence have proven invaluable in getting the job done and delivering successful outcomes for our clients. i’m confident this will continue as she takes on the task of steering our global financial services practice. i wish them both the best in their respective roles.”

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. with core specialisations in litigation, insolvency, restructuring, and asset recovery, the firm operates through a robust network of teams across bermuda, the british virgin islands, the cayman islands, cyprus, hong kong, jersey, london, shanghai, and singapore. complementing its dispute resolution expertise, harneys offers comprehensive legal services for cayman islands, luxembourg, and bvi funds, covering every stage of a fund’s lifecycle, from formation and restructuring to closure, across diverse asset classes and in both planned and distressed scenarios. the firm’s dedicated regulatory and tax practice further enhances its ability to provide essential legal support to regulated clients.

harneys has appointed wei lee lim to lead its singapore-based dispute resolution practice, which encompasses litigation, arbitration, insolvency, and restructuring, effective 2 january 2026. wei lee joins the firm from one of the big four local law firms in singapore, where she served as deputy head of its banking & financial disputes practice and was a partner in the international arbitration practice.

wei lee advises clients on a broad range of litigation and arbitration matters, including commercial, corporate, banking and trusts disputes, fraud, insolvency, and cross-border trade and investment disputes. she specialises in representing clients in the high court and court of appeal, as well as in arbitrations conducted under various arbitral rules, including siac, uncitral, aiac, and icc. she is highly experienced in international arbitrations and arbitration-related court proceedings.

lishi fong, singapore managing partner, said: “we are thrilled to welcome wei lee to our team. with her extensive experience in complex disputes, cross-border litigation, and arbitration, i am confident that she will lead our dispute resolution practice with great success. wei lee is deeply rooted in singapore and well connected across the jurisdiction, which aligns strongly with our long-term commitment to the market. her combination of local insight and international expertise will further strengthen our offering and enhance the strategic, results-driven support we provide to clients across the region.”

wei lee’s appointment follows the recent additions of ilona groark and ben mccosker as partners in the firm’s dispute resolution team in hong kong and mainland china, respectively, marking the continued expansion of harneys’ asia-based team.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in some of the most significant global disputes, winning keynote victories for its clients and often helping shape the law. the firm's asia practice is one of the region's most dynamic offshore legal teams with three full-service offices across shanghai, hong kong, and singapore. it represents one of the largest asia networks of any offshore law firm.

harneys is pleased to announce the promotion of 33 of its people globally, including four partners, six counsel, 10 senior associates, and one legal manager, across its british virgin islands, cayman islands, cyprus, hong kong, singapore, and shanghai offices. all changes are effective 1 january 2026.

partners

the four newly appointed partners are natasha guthrie and faisal saifee, based in the firm’s bvi office, and vivian ma and lily zhang, based in the firm’s shanghai office.

natasha has a wealth of experience in dispute resolution, specialising in complex commercial disputes and insolvency for domestic and international clients. known for her diligence, tenacity, and commitment to results, she advises corporations, high-net-worth individuals, and insolvency practitioners on issues like insolvent estate claims, fraud, asset tracing, contractual and shareholder disputes, enforcement, trust disputes, insurance conflicts, and alternative dispute resolution.

faisal is a seasoned litigator with deep knowledge in commercial, insolvency, trusts, and international litigation, as well as arbitration. he has acted for prominent clients across sectors such as finance, cryptocurrency, and real estate, earning recognition for his thorough preparation and skilful advocacy in complex, high-stakes cases.

vivian is an expert in litigation, arbitration, and mediation with a focus on commercial, shareholder, international trade, fund, and trust disputes, alongside restructuring and insolvency matters. with qualifications in multiple jurisdictions, she has significant experience advising both domestic and international clients and is a certified mediator with a notable track record in international arbitration.

lily is an accomplished corporate attorney with more than 15 years of experience in cross-border transactions, including high-profile deals such as j&t global express limited’s award-winning hong kong stock exchange listing. she excels in sophisticated m&a, private equity, and corporate structuring, drawing on her experience with major chinese regulatory bodies to deliver outstanding outcomes.

counsel

the following lawyers are promoted to counsel: ian chambers (financial services | bvi), eunice lau (dispute resolution | singapore), andré mckenzie (dispute resolution | bvi), alla segal (financial services | cayman), cherrie wong (financial services | hong kong), and joyce yuen (dispute resolution | hong kong).

senior associates

the following lawyers are promoted to senior associate: charlotte allery (private wealth | bvi), flavia au (banking & corporate | hong kong), rhonda brown (banking & corporate | bvi), iphigenia georgiou (banking & corporate | cyprus), louise hayward (banking & corporate | cayman), jenny lu (dispute resolution | shanghai), isobel mcnaught (dispute resolution | bvi), lucille neighbour (dispute resolution | hong kong), kiril pehlivanov (financial services | bvi), and kelsey sabine (dispute resolution | cayman).

legal manager

the following lawyer has been promoted to legal manager: ada xie (financial services | hong kong).

global managing partner william peake commented: “a huge congratulations to all those who have been promoted this year. these well-deserved promotions reflect their hard work, expertise, and the value they bring to our firm. at harneys, we are passionate about nurturing talent and creating pathways for our people to achieve their full potential. it’s always inspiring to watch our people progress in their careers, and we are excited to see the impact they will continue to make.”

*all promotions are subject to the necessary regulatory approvals.

harneys acted as cayman islands counsel to qingsong health corporation (qingsong health) on its initial public offering (ipo) and listing on the main board of the stock exchange of hong kong limited (hkex) under stock code 2661. the company’s shares commenced trading on hkex on 23 december 2025, with the share price rising by approximately 1.5 times on its debut day, underscoring strong market reception.

qingsong health offered an aggregate of 26,540,000 shares under the global offering at an offer price of hkd 22.68 per share, with a 15 per cent over-allotment option. qingsong health is a leading digital healthcare service provider in china, operating integrated healthcare and health insurance-related services supported by its proprietary ai technology stack, aicare. its platform connects insurer partners, pharmaceutical companies and individual customers, providing health education, digital medical research support, integrated health service packages and access to a wide range of health insurance products.

this transaction follows harneys’ role as cayman islands counsel on the hong kong ipo of quantgroup holding limited, which closed in late november 2025, marking two hong kong ipos completed by harneys within the last month. the harneys team for the qingsong health ipo and the quantgroup ipo were led by hong kong corporate partner raymond ng.

harneys’ corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus vehicles, with a strong track record on hong kong listings, including healthcare and technology issuers.

harneys in the bvi is proud to have partnered with the bvi recreation trust to provide new covered seating at the millicent mercer recreation grounds in baugher’s bay, tortola. the popular grounds are used for a range of sporting activities and by neighbouring schools.

harneys provided funds for a new concrete pad, metal seating and a roof. previous seating at the grounds was destroyed by hurricane irma in 2017.

"we are pleased to support the recreation trust in its mission to upgrade the territory’s recreational facilities," commented bvi managing partner, tanya cassie-parker. "we see this as a way to support the maintenance of safe community spaces that promote wellbeing and build community, especially amongst young people.”

the donation was part of harneys’ “65 for 65” campaign, in which the firm carried out 65 community service initiatives in the bvi during 2025 to commemorate its 65th anniversary.

harneys cyprus advised theon international plc, a cyprus company with its shares listed and admitted to trading on euronext amsterdam, on a secondary rights issue of ordinary shares to partly finance the acquisition of a 9.8 per cent stake in exosens sa, a leading french electro-optical technology company. the harneys team worked closely with theon and clifford chance in frankfurt and amsterdam.

theon is a leading developer and manufacturer of customisable night vision and thermal imaging systems for military and security applications in europe, with a global footprint spanning 71 countries.

the harneys team was led by partner and head of the cyprus transactional group nancy erotocritou with support from partner sonia hamshaw and counsels valentina hadjisoteriou and elina mantrali.

the team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by cyprus companies, including cross border ipos and secondary offerings. the firm’s global ecm expertise lies in advising entities listed or listing on all the world’s major stock exchanges.

harneys has strengthened its investment funds and regulatory practices with the appointment of stéphane karolczuk as a partner in its hong kong office, where he will lead luxembourg and offshore fund formation projects for apac-based clients.

stéphane has extensive experience advising clients across the apac on a wide range of investment fund legal and regulatory matters. his expertise spans the structuring, registration, marketing, offering, and listing of investment funds, including private equity, real estate, private debt and credit, hedge funds, and alternative luxembourg and foreign investment funds. stéphane has also been instrumental in facilitating luxembourg investment vehicles' access to prc capital markets through channels such as qfii, r-qfii, stock connect, cibm direct, and bond connect.

with apac-based asset managers increasingly seeking to access a broader pool of eu and global investors, and appetite of the latter for a variety of asset classes in the region, stéphane’s appointment will further enhance their growth prospects and investment opportunities.

before joining harneys, stéphane was a partner at a leading luxembourg law firm, where he established and led its hong kong office and apac strategy for over 14 years.

maggie kwok, head of the firm’s funds and regulatory practice in apac, stated: “stéphane’s extensive expertise in luxembourg fund structures and cross-border fund distribution greatly benefits our clients in apac. luxembourg serves as a vital global hub for investment funds, providing unique access to european and international investors, as well as robust regulatory advantages. stéphane’s presence in hong kong enhances our capacity to link apac investment strategies with european capital, and we are delighted to welcome him to our team."

harneys advises on all aspects of the life of a cayman islands, luxembourg, or bvi fund, including formation, restructuring, and closure, across the range of asset classes, both in planned and distressed scenarios. the firm has also established a dedicated regulatory and tax practice providing regulated clients with essential legal support.

harneys is pleased to announce that its partnership has unanimously re-elected william peake as the firm’s global managing partner for a second term. his re-election is effective from 1 january 2026.

since his appointment in january 2023, william has steered the firm through a period of significant change following the sale of its fiduciary business in july 2024. the sale enabled the firm to focus on its strategic growth, including the launch of new offices in jersey and dubai in 2025, reinforcing its dedication to meeting client needs and expanding its global footprint.

william commented: “i am delighted to be unanimously re-elected as global managing partner. i never take the continued trust and support of the partnership for granted as it breathes life into my role. i am merely a custodian for the future of the firm and my role is to leave it in a better shape than when i was appointed. that’s what all my predecessors have achieved, and i hope to be able to continue to do the same. my focus remains on ensuring the delivery of impeccable legal services from our 11 offices worldwide to allow our clients to thrive.”

harneys is an international law firm spanning all major transactional, contentious, and private client disciplines. experts in anguilla, bermuda, british virgin islands, cayman islands, cyprus, jersey, and luxembourg law, the firm’s service is built around professionalism, personal service, and rapid response.

global offshore law firm harneys is pleased to announce the opening of its new office in dubai, marking the firm’s second office launch in 2025 after opening in jersey in july.

the office will be located in the dubai international financial centre (difc), offering the firm’s full range of transactional, disputes and private client legal services. this includes banking and finance, corporate, digital assets and blockchain, international arbitration, investment funds, litigation and insolvency, private wealth, regulatory and tax, and restructuring.

ian mann has been appointed dubai office managing partner. he specialises in uhnw shareholder disputes, funds disputes, asset tracing, insolvency, and contentious trusts and probate. over the past year, ian has made regular visits to dubai to get to know the local market, deepen his understanding, and build strong connections in the region.

joining ian is tom hagger, a partner specialising in investment funds, corporate, regulatory, and digital assets and blockchain. tom has significant experience in the offshore legal world having spent time working in the cayman islands before relocating to dubai in 2021 where he has been working closely with all the key members of the thriving ecosystem in dubai, the uae, and the wider middle east region.

global managing partner, william peake, commented: “2025 has been a significant year of growth for harneys. following the opening of our jersey office in july, we are pleased to establish a presence in dubai. the uae is a key market for our global strategy, and i am confident that ian’s exceptional leadership, combined with tom’s expertise, will ensure the success of our dubai office. together, they are well-positioned to deliver outstanding service to our clients locally and internationally.”

the dubai team will collaborate closely with harneys’ other offices to provide seamless, world-class client service.

harneys’ service is built around professionalism, personal service, and rapid response. the firm practises the laws of the british virgin islands, cayman islands, bermuda, jersey, cyprus, luxemburg, and anguilla. it does not practise difc law. harneys sold its fiduciary business, harneys fiduciary, in 2024 and now operates solely as a law firm.

harneys acted as cayman islands legal counsel to smj international holdings inc. in connection with its initial public offering and listing on nyse american.

harneys advised weshop holdings limited, a bvi incorporated company, on its innovative social-commerce platform that is driving a retail revolution through community ownership, on its successful direct listing on nasdaq under the ticker “wshp”, marking a significant milestone in the company’s growth and expansion into the retail sector. the harneys team worked closely with the company and its us counsel kirkland and ellis llp on the bvi legal aspects of a highly complex and innovative listing.

weshop is a social-commerce platform that enables users to shop, share product recommendations, and earn rewards through its shareback™ program, under which “wepoints” accumulated from purchases and referrals can be converted into equity in weshop itself, turning everyday shoppers into shareholders. the company has now launched its us app, expanding on its uk platform, which includes partnerships with leading retailers such as john lewis, ebay, selfridges, asos, expedia, british airways, temu, and shein. across its uk pilot, weshop facilitated more than us $140 million in gross merchandise value and now provides access to a catalogue of over one billion products.

the harneys team was led by partner and global head of corporate george weston with support from counsel james kitching, senior associate priya mattu, and associate reece de-vaney.

george commented: “we are thrilled to have advised weshop on their successful nasdaq listing. this is a genuinely groundbreaking transaction and a company with a unique capital model. being able to accommodate their requirements within a bvi listing vehicle highlights the advantages of our flexible corporate law and adds to the jurisdiction’s long track record as a home for some of the world’s most innovative companies. we look forward to working with them in the future on the next steps of an incredibly exciting journey”.

george weston represented harneys at the weshop nasdaq stock market closing bell ceremony on thursday, 20 november 2025, where founder john garner rang the closing bell to mark the company’s listing.

the corporate team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all the world’s major stock exchanges.

harneys advised viking acquisition corp. i, a cayman islands exempted company, on its us$230 million ipo, which closed on 3 november 2025, and is listed on the new york stock exchange under the ticker symbol vaci.u.

the ipo comprised 23 million units, priced at us$10.00 per unit, including the full exercise of the underwriters’ over-allotment option. each unit consists of one class a ordinary share and one‑third of one redeemable warrant, with each whole warrant exercisable to purchase one class a ordinary share at us$11.50 per share, subject to certain adjustments.

the harneys team was led by partner and global head of corporate george weston, with support from counsel james kitching.

the corporate team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys hong kong has once again retained a tier 1 ranking for "offshore law firms - hong kong" in the legal 500 asia pacific 2026 guide. this accolade affirms the firm's consistent position as a leader in the offshore legal industry and recognises the exceptional expertise of its team.

the guide also recognised five of the firm’s partners, paul sephton, maggie kwok, ian mann, raymond ng, and chai ridgers, as leading partners in their fields, celebrating their outstanding contributions, dedication, and market-leading expertise.

this continued success is a testament to the firm’s excellent reputation for navigating complex legal matters. one client noted that "raymond ng is one of the best offshore corporate lawyers in hong kong. excellent client care, super responsive and helps clients solve issues. he is my go-to offshore lawyer." another remarked, "yucheng fan is responsive and is able to provide answers in both english and japanese."

hong kong managing partner paul sephton commented: “this year’s recognition reflects the continued commitment, expertise, and innovation of our team. it is a privilege to be consistently acknowledged among the very best, and we deeply appreciate the trust our clients place in us. their ongoing support drives us to set ever higher standards of excellence.”

the legal 500 asia-pacific guide is a prestigious publication that offers a comprehensive analysis of law firms across the asia pacific region. its rankings are based on extensive research and feedback from clients and peers.

harneys hong kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in english, mandarin, and cantonese. the firm’s three full-service offices across hong kong, singapore and shanghai represent one of the largest asia networks of any offshore law firm.

harneys has won offshore firm of the year at the grr awards. additionally, the firm has been recognised as a leading cross-border restructuring and insolvency legal advisor in the prestigious grr 30 list. the firm celebrated these achievements at an awards ceremony held in london on 20 november, attended by partners jeremy child, francesca gibbons, and chai ridgers, counsel paul goss, and associates julia iarmukhametova and christopher tan.

the grr awards recognise outstanding contributions from law firms, insolvency practitioners, restructuring advisors, and other industry professionals. the grr 30 showcases the top standout firms in the grr 100, global restructuring review's annual guide to the world's leading law firms for cross-border restructuring and insolvency matters.

nick hoffman, the firm’s global head of litigation, insolvency & restructuring, commented: “being named offshore firm of the year and included in grr’s top 30 is a testament to the exceptional reputation and expertise of our global team. we remain committed to delivering an unparalleled, class-leading service to our valued clients. thank you to all those who nominated harneys and to grr for the recognition.”

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency, and asset recovery are core areas of specialisation, with teams spanning the bvi, the cayman islands, hong kong, london, shanghai, and singapore. the firm provides clear, timely, and innovative solutions for clients in complex multi-jurisdictional disputes.

harneys acted as offshore counsel to global brain and toho holdings in establishing a new corporate venture capital fund under the toho ventures brand. this strategic initiative marks a significant step in toho holdings’ efforts to adapt to the rapidly evolving healthcare landscape and foster innovation in the industry.

toho holdings is a leading japanese corporate group that supports medical institutions and pharmacies through pharmaceutical wholesale, dispensing pharmacy operations, and drug manufacturing. in response to transformative changes in healthcare, toho holdings launched toho ventures to collaborate with innovative startups and drive the next wave of advancements in medicine.

the fund focuses on investing in pioneering drug discovery and biotechnology startups, particularly those based outside japan. it supports cutting-edge platforms that enhance drug development efficiency through ai, data science, and breakthroughs in cellular and genetic engineering. beyond capital, toho ventures leverages toho holdings’ extensive assets, including its distribution network and manufacturing infrastructure, to help startups achieve commercialisation.

the harneys team was led by partner yucheng fan, with support from associate julia xie. speaking about the deal, yucheng said: “we are pleased to have supported the launch of toho ventures. this initiative brings together healthcare and innovation, and we are proud to have contributed our legal expertise to facilitate its establishment. we look forward to seeing toho ventures’ role in advancing progress within the healthcare sector.”

harneys’ investment funds team advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund, including formation, restructuring, and closure, both in distressed and planned scenarios. the firm’s funds lawyers sit side-by-side with the funds team from its strategic alliance partner, harneys fiduciary, allowing harneys to provide integrated legal and administrative support to its funds clients.

harneys advised cayman islands incorporated gigcapital7 corp., on instructions from dla piper llp (us), in its proposed us$1.2 billion business combination with hadron energy, inc., an emerging nuclear energy company developing next-generation micro modular reactor technology. harneys previously advised gigcapital 7 on its successful ipo in 2024.

the transaction is expected to result in hadron becoming a publicly listed company on a us national exchange under the ticker symbol “hdrn.”

in addition, harneys also on instructions from dla advised gigcapital8 corp., another cayman islands incorporated special purpose acquisition company sponsored by the gigcapital global group, on its us$253 million initial public offering, which closed on 7 october 2025, and is listed on nasdaq under the ticker symbol “gig8u.”

the harneys team was led by partner and global head of corporate george weston, with support from counsel james kitching.

harneys’ strategic alliance partner, harneys fiduciary – an ascentium company, provides cayman islands fiduciary services to both gigcapital7 and gigcapital8.

gigcapital global corp. is a private-to-public equity (ppe) company (also known as special purpose acquisition company – spac) deploying a mentor-investor™ methodology and a mission to partner with a high technology differentiating company to forge a successful path to the public markets through a business combination.

the corporate team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys has bolstered its hong kong litigation, insolvency and restructuring practices with the appointment of ilona groark as partner.

ilona brings over two decades of experience in cross-border dispute resolution, with extensive experience in shareholder and partnership disputes, contentious trusts and succession matters, asset recovery, insolvency, and cases involving regulators and law enforcement agencies. she advises a wide range of clients, including ultra-high-net-worth individuals, founders, directors, shareholders, creditors, and court-appointed officeholders, on the laws of the british virgin islands and the cayman islands.

before joining harneys, ilona was a principal at kobre & kim in hong kong and the cayman islands and previously worked at other offshore firms in the cayman islands.

paula kay, head of the firm’s hong kong litigation practice, said: “we are delighted to welcome ilona to our team. her extensive experience in complex, high-value disputes and in developing effective asset recovery strategies across multiple jurisdictions makes her an invaluable addition. ilona’s arrival further strengthens our regional practice and reinforces our commitment to providing innovative, results-driven, commercial solutions to our clients."

ilona’s appointment follows the recent addition of ben mccosker as partner in the firm’s china practice, marking the continued expansion of harneys’ asia dispute resolution team.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in some of the most significant global disputes, winning keynote victories for its clients and often helping shape the law. the firm's asia practice is one of the region's most dynamic offshore legal teams with three full-service offices across shanghai, hong kong, and singapore. it represents one of the largest asia networks of any offshore law firm.

harneys bermuda, british virgin islands, and cayman islands has received high praise in the 2026 legal 500 caribbean guide, reinforcing the firm’s position as a market leader. the bvi team has been distinguished with a tier 1 ranking across all its practice areas, a testament to its comprehensive expertise and unwavering commitment to client service. the cayman trusts and private wealth team also retained its top-tier ranking. further highlighting the firm's growth, the cayman dispute resolution and investment funds teams saw their rankings increase, and the bermuda office was newly ranked for both its dispute resolution and corporate & commercial practices.

clients praised the firm's ability to handle intricate and novel cases, noting, "the team has been fantastic to work with. they are collaborative, responsive, and able to tackle complex issues with a commercial mindset." further testimonials described the firm as a "powerhouse in the bvi and cayman" and noted that harneys is "completely committed to us clients needing sophisticated counsel in cayman."

harneys also celebrates the individual accomplishments of its lawyers, with 21 practitioners being named in the guide, including 10 leading partners across eight practice areas, seven next-generation partners, and four leading associates. clients consistently praised the firm's lawyers for their "commercial approach", "deep knowledge", and "responsiveness".

bvi managing partner tanya cassie-parker commented, “we are delighted to receive this continued recognition from legal 500. with a proud 65-year legacy in the bvi, we remain deeply committed to delivering exceptional service to our clients while building on the strong foundation we’ve established over the years.”

cayman managing partner carolynn vivian highlighted the team’s contributions, stating, “our success is a testament to the incredible talent and unwavering dedication of our team. we are committed to consistently delivering the highest standards of excellence.”

bermuda managing partner henry tucker added, “being recognised for the first time in bermuda is a significant milestone for us. this acknowledgement reflects the hard work and dedication of our teams, and it’s incredibly rewarding to see their efforts celebrated in this way.”

harneys is a global law firm with a presence in major financial centres around the world. with a focus on delivering innovative and practical solutions, the firm provides expert advice to clients across a wide range of industries. harneys' team of talented professionals is deeply rooted in the legal culture of the jurisdictions in which they operate, enabling them to offer unparalleled insights and guidance.

harneys acted as cayman islands counsel to techcreate group ltd. on its successful initial public offering and listing on the nyse american. the transaction is a significant milestone, marking the singapore-based software seller's strategic transition from a regional fintech player to a global infrastructure provider.

the successful listing positions techcreate to capitalise on the rapid expansion of the real-time payments infrastructure market in southeast asia, which is forecasted to grow at a 22.3% compound annual growth rate. this achievement underscores the company's resilience and forward-looking strategy.

the harneys team was led by singapore managing partner lishi fong, with support from senior associate jonathan lim and associate nicole teng.

lishi commented: “we are delighted to have advised techcreate on its successful debut on the nyse american. this transaction not only highlights the company's ambition to become a global leader in its field but also demonstrates our team’s capability in guiding innovative technology clients through complex, cross-border capital market transactions. this listing is a testament to the strength and potential of the fintech sector in southeast asia.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

harneys has strengthened its china-based litigation, insolvency and restructuring team with the appointment of partner ben mccosker, who will join the firm’s shanghai office upon receiving regulatory approval.

ben brings over 15 years of expertise in commercial litigation, restructuring, and insolvency, advising on high-profile shareholder disputes and complex restructuring transactions for offshore incorporated companies listed across asia. admitted in hong kong, bermuda, and new south wales, australia, ben’s international experience spans leading law firms in asia-pacific, europe, and the caribbean. his global perspective and specialist knowledge will significantly strengthen harneys’ litigation, insolvency, and restructuring capabilities for prc-focussed clients.

commenting on ben’s appointment, vicky lord, managing partner of harneys shanghai and head of china litigation, insolvency, and restructuring, said: “we are delighted to welcome ben to our expanding team. his litigation and restructuring background, combined with his experience in both offshore and international markets, will further empower our ability to serve clients across china. ben’s drive and technical excellence are highly complementary to our platform and will be instrumental in supporting our continued growth in the region.”

harneys’ global head of restructuring, chai ridgers, commented: “ben’s recruitment is a strategic hire that we have been looking to fill with the right candidate for some time. we believe we have found that person in ben and we are excited to have him on board.”

ben’s appointment marks the start of harneys’ expansion of its thriving asia practice, with more exciting developments on the way. his arrival highlights the firm’s commitment to providing innovative litigation, insolvency, and restructuring solutions to leading financial institutions, listed companies, and private clients throughout china.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping shape the law. the firm provides clear, timely, and innovative solutions for its clients in complex multi-jurisdictional disputes. the harneys asia practice is one of the region's most dynamic offshore legal teams. the firm’s three full-service offices across shanghai, hong kong, and singapore represent one of the largest asia networks of any offshore law firm.

harneys has once again achieved a band 1 ranking in the chambers uk 2026 guide for offshore: bermudian, british virgin islands & cayman islands law.

in addition, global managing partner william peake was recognised as one of only three eminent practitioners for his cayman islands restructuring and insolvency focussed practice. london managing partner rachel graham was recognised for her corporate and capital markets expertise and partner john o’driscoll was ranked for his work in insolvency disputes.

rachel commented: “we are delighted to maintain our band 1 ranking in the latest chambers uk guide. this achievement reflects our team’s unwavering commitment to excellence and our ability to provide our valued clients with the highest level of service. congratulations to all our lawyers on this outstanding accomplishment.”

offshore: trusts, jersey

in the offshore: trust, jersey guide, katherine neal, jersey head of trusts & private wealth, has been recognised for her trusts, employee benefits, and pensions expertise.

jersey managing partner, nicola roberts, commented: “we’re delighted to see katherine has been recognised in the chambers uk guide for her expertise in jersey trusts. our jersey office has gone from strength to strength since opening in july this year, and katherine’s ranking reflects her dedication and the brilliant service she delivers to her clients. we look forward to the team’s continued success and growth in the coming year.”

this continued success for harneys underscores the strength, dedication, and deep knowledge of its london and jersey teams. harneys consistently delivers progressive, innovative, and exceptionally responsive legal services to clients across the uk and globally.

harneys delivers premier offshore legal expertise through its london and jersey offices, offering services across banking & finance, corporate, digital assets, investment funds, litigation & insolvency, private wealth, regulatory & tax, and restructuring. led by top-tier professionals with in-depth knowledge of offshore jurisdictions, the teams deliver high-quality, responsive service to address complex, multi-jurisdictional legal needs. seamlessly working with its global network, the firm’s london and jersey teams provide innovative solutions, technical excellence, and strategic insights tailored to clients worldwide.

harneys has achieved tier 1 recognition in this year’s iflr1000 emea guide for its outstanding financial and corporate expertise in cyprus, with six lawyers from the firm retaining their individual rankings.

partners pavlos aristodemou and nancy erotocritou continue to be recognised as "market leaders", with nancy retaining the additional distinction of being ranked as a "women leader". partner aki corsoni-husain and consultant demetris loizides have maintained their ranking of "highly regarded," while partner george apostolou continues to be acknowledged as a "notable practitioner." partner sonia hamshaw has sustained her recognition as a "rising star partner".

cyprus managing partner pavlos aristodemou commented: “securing our sixth consecutive tier 1 ranking from iflr1000 is a testament to our steadfast commitment to legal excellence and our profound understanding of the global financial and corporate landscape. congratulations to our ranked individuals, whose hard work and commitment to our clients continue to set new standards in cyprus and beyond.”

as a leading international multi-jurisdictional law firm with an established presence in cyprus, harneys cyprus continues to set the benchmark for unparalleled professionalism for clients worldwide.

harneys is pleased to announce that chai ridgers, global head of restructuring, is relocating to the firm's new jersey office.

after 11 years in hong kong, chai will now drive the growth of the firm's global restructuring practice across europe, the middle east, and the americas. his extensive experience and leadership will be instrumental in expanding the firm's capabilities and client service in these key markets.

chai specialises in cross-border restructurings, insolvency, and distressed company workouts, advising a wide range of clients, including financial institutions, onshore law firms, creditors’ committees, private equity sponsors, hedge funds, and corporate debtors.

chai leaves the hong kong restructuring team in the capable hands of strachan gray and the wider team, whom he will continue to support, ensuring continued excellence in the asia-pacific region.

harneys' dedicated global restructuring team offers specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. the team works closely with the firm's other practice groups, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.

harneys' jersey team, with over 75 years of combined legal experience, delivers a comprehensive range of legal services. with deep roots in jersey law and a reputation for commercial insight and technical expertise, the team is dedicated to delivering exceptional services that inspire confidence and meet clients’ evolving needs.

harneys acted as cayman islands counsel to butong group on its hk$781.84 million initial public offering on the main board of the hong kong stock exchange. the company’s shares commenced trading on 23 september 2025 under the stock code 6090.hk. this marks another substantial ipo from the consumer goods sector, reflecting sustained global investor interest in asian growth stories.

butong group specialises in the design, manufacturing, and sale of premium nursery products under its flagship bebebus brand, creating high-quality solutions for families across asia and beyond. the ipo involved an offering of 10,980,900 primary shares, fully placed with substantial institutional and retail investor interest. the final offer price was hk$71.20 per share, with a market cap on listing of approximately hk$6.46 billion.

the harneys team was led by hong kong corporate partner raymond ng, supported by counsel annie liu and legal manager pauline yuen. citic securities (hong kong) limited and haitong international capital limited acted as joint sponsors, with an international syndicate of coordinators and bookrunners.

raymond said: “we are thrilled to work with butong group on its market debut, exemplifying harneys’ expertise advising global consumer businesses on complex, cross-border ecm transactions.”

harneys’ corporate team regularly advises on all aspects of offshore capital markets matters, including ipos, secondary offerings, equity-linked products, private placements, and take-privates, for clients listing on exchanges in hong kong, new york, london, singapore, and other major financial centres.

for the ninth consecutive year, harneys has maintained its top tier status in the 2026 legal 500 uk rankings for offshore firms in london.

legal 500 praised the firm for its “in-depth capabilities in cross-border restructurings and liquidations, often spanning middle eastern, european, and caribbean jurisdictions.” the summary noted that harneys is “highly regarded by its domestic and international clients.”

partners william peake and john o’driscoll were named leading partners, and counsel matthew howson was recognised as a leading associate.

the guide also highlighted several of the firm’s lawyers for their specialised knowledge, including partners aki corsoni-husain, rachel graham, jeremy child, and counsel paul goss.

london managing partner rachel graham commented: “i am proud of our team for achieving this tier 1 ranking once again. it is a testament to our collective expertise and the dedication we bring to delivering top notch advice for our clients around the world.”

led by a senior team of experienced offshore lawyers and located in the heart of the city of london, harneys opened in london in 2002 and services a wide range of clients in the uk and throughout the emea region. the firm’s london lawyers provide appropriate, practical, and commercial advice on contentious and non-contentious transactional, private wealth, insolvency, and regulatory related matters.

harneys is pleased to announce the appointment of two of its partners to senior management positions within the firm. lishi fong, managing partner of the singapore office, has been elected to the firm’s executive committee. the executive committee is responsible for developing and implementing the firm’s global strategy and is chaired by the global managing partner, william peake.

william commented: “lishi has been a wonderful partner since joining the firm in 2019 and her management skills and strategic insights are significant assets to our business. her fresh perspective aligns with the growth ambitions of harneys and i am looking forward to working with her as a member of our executive committee.”

in addition, george weston has been appointed global head of the corporate practice. george joined harneys in 2015 in the bvi office and became a partner in 2020. he advises clients across jurisdictions on all aspects of corporate and commercial law. george is an influential voice in the market and was recently elected chair of the bvi finance board of directors.

global head of transactional, paul sephton, commented: “george has the right skills and qualities to lead our global corporate team and to help drive harneys and our clients towards further success. his knowledge of the market and his commitment to client service make him the ideal candidate for this role. i look forward to seeing the impact he will make in supporting and developing our corporate clients around the world.”

harneys is an international law firm spanning all major transactional, contentious, and private client disciplines. experts in british virgin islands, cayman islands, cyprus, luxembourg, bermuda, anguilla, and jersey law, the firm’s service is built around professionalism, personal service, and rapid response.

harneys acted as cayman islands and british virgin islands counsel to kaisa group holdings ltd. in its successful restructuring of approximately us$12.3 billion in offshore debt – the largest offshore debt restructuring of a chinese real estate company that has been sanctioned to date. the transaction, led by sidley austin as international counsel, was recognised as the “restructuring and insolvency matter of the year” at the asia legal awards 2025.

the restructuring was implemented through parallel and inter-conditional schemes of arrangement for both kaisa and its principal subsidiary, rui jing investment company ltd., across hong kong, the cayman islands, and the british virgin islands. the restructuring, which became effective on 15 september 2025, significantly reduces kaisa group’s debt burden and enhances its financial position.

the harneys team was led by partners chai ridgers, ben hobden, christopher pease, and strachan gray, supported by counsels caitlin murdock and victoria lissack, senior associates sanjev guna and robert maxwell marsh, associate celine kee, and legal manager urvashi salecha.

this transaction further solidifies the firm’s reputation for handling landmark restructurings. other notable deals include the recent us$6.7 billion offshore debt restructuring for yuzhou group, advising china aoyuan group on its successful restructuring of us$6.2 billion of offshore liabilities, guiding luckin coffee through its successful restructuring, and providing counsel to virgin group in relation to virgin atlantic’s £1.2 billion solvent recapitalisation.

harneys' dedicated global restructuring group offers the specialist expertise required to navigate the complexities that can arise for a distressed company in a cross-border environment. led by a team of ranked partners, the group works closely with the firm's formidable transactional, litigation, funds, trusts, tax, and regulatory teams, providing clients with seamless service and bespoke legal advice that is tailored to their individual needs.

harneys acted as cayman islands counsel to 160 health international limited (160 health) on its successful initial public offering (ipo) on the main board of the hong kong stock exchange, raising gross proceeds of hk$400 million.

the company’s shares began trading on 17 september 2025 under stock code 2656. this ipo underscores the continued dynamism of hong kong’s equity markets and the capital-raising appetite within china’s healthtech and pharmaceutical sector.

160 health is a leading digital healthcare integrated service provider in china, best known for its “healthcare 160” platform, recognized as one of the largest digital healthcare and wellness service platforms in the country. the company delivers end-to-end digital healthcare and wellness solutions to a wide ecosystem that encompasses corporates, medical institutions, professionals, individual users, and third-party merchants—driving digital transformation across the healthcare value chain.

the harneys team was led by counsel annie lui and legal manager jane chan, and supported by hong kong corporate partner raymond ng and paralegal matt ip. shenwan hongyuan capital (h.k.) limited and zero2ipo capital limited acted as joint sponsors. commenting on the listing, raymond said: “we are delighted to have advised 160 health on its successful hong kong ipo, further highlighting harneys’ commitment and depth of expertise in guiding innovative chinese healthcare businesses to international capital markets.”

harneys’ corporate team has a market-leading ecm practice with deep experience in capital raisings by offshore issuers, including ipos and secondary offerings, rights issues, and equity-linked securities on all major stock exchanges worldwide.

harneys is delighted to announce that sarah ramdatt has been awarded the firm’s 2025 bvi scholarship award. sarah is now pursuing her bachelor of laws at the university of exeter in the united kingdom. in addition to scholarship funds, the award will provide sarah with the opportunity to gain work experience with harneys upon completion of her legal studies.

“we had a large number of high-quality applications for this year’s award, and i am grateful to each and every student who took part in the application process,” said bvi managing partner tanya cassie-parker. “our award panel was particularly impressed by miss ramdatt due to her exceptional academic record and active community involvement, including being one of three winners of the ‘day with the governor' climate change contest, and the community service director of the interact club at cedar international school for two years. we are proud to support miss ramdatt on her academic journey and in the first stage of her career as a legal practitioner.”

sarah commented: “i am eternally grateful to harneys for allowing me to fulfil my lifelong dream of attending university in the uk to study law. with this scholarship, not only will i be able to finish my degree without the stress of costs, but it also grants me the opportunity to return home to the bvi after achieving my qualifications and work with harneys. words alone cannot express how excited and appreciative i am for the support that i am receiving, laying out the foundation for an exciting future with harneys.’’

harneys has a long-standing commitment to investing in people development. this year’s scholarship award is particularly meaningful for the firm because it coincides with its 65th anniversary. harneys extends best wishes not only to sarah but to all the scholarship applicants.

to learn more about the harneys scholarship programme, please visit the careers page on our website at harneys.com.

harneys acted as cayman islands legal counsel to chowchow cloud international holdings ltd. on its successful initial public offering on the nyse american, through the issuance of 2,990,000 ordinary shares at us$4.00 per share. the shares commenced trading under the ticker symbol "chow" on 16 september 2025. this offering marks a significant milestone for chowchow cloud as it expands its footprint in the international capital markets.

chowchow cloud is a hong kong-based technology firm specializing in professional it services, digital transformation consulting, and ai-powered proactive cloud managed services, operating across the asia-pacific region with a strong presence in hong kong and singapore. the company has broadened its reach into the philippines, indonesia, taiwan, and australia.

sidley austin llp acted as us counsel to chowchow cloud on this transaction. us tiger securities, inc. acted as the underwriter in the offering.

the harneys team was led by singapore managing partner lishi fong with support from senior associate jonathan lim, and associate edwin tan.

lishi commented: “we are delighted to support chowchow cloud on its successful debut on the nyse american, a transaction that showcases the company’s innovative spirit and cross-border reach. this listing further highlights harneys’ ability to guide dynamic technology clients through complex offshore and international capital market transactions.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

harneys acted as cayman islands counsel for yuzhou group holdings company limited (yuzhou group) in relation to its successful restructuring of its us$6.7 billion offshore debt liabilities, alongside lead international counsel, linklaters. yuzhou group is a leading residential and commercial property developer listed on the hong kong stock exchange, with operations spanning key regions in greater china, including the guangdong-hong kong-macao greater bay area and the yangtze river delta.

after securing sanction of yuzhou group's parallel schemes of arrangement by the courts of hong kong sar and the cayman islands, the restructuring became effective on 29 august 2025. this marks a significant milestone towards the holistic restructuring of yuzhou group's material indebtedness, which was completed over a three-year period. the implementation of this restructuring will significantly reduce yuzhou group's debt burden and provide the company with greater flexibility to address the challenges faced by the chinese property sector in recent years.

the harneys team was led by partners chai ridgers, ben hobden, and strachan gray, supported by counsel caitlin murdock, senior associates sanjev guna and benjamin bronzon, and associate celine kee.

harneys' dedicated global restructuring group offers the specialist expertise required to navigate the complexities that can arise for a distressed company in a cross-border environment. led by a team of ranked partners, the group works closely with the firm's formidable transactional, litigation, funds, trusts, tax, and regulatory teams, providing clients with seamless service and bespoke legal advice that is tailored to their individual needs.

harneys was named offshore firm of the year at the asian legal business awards in hong kong, marking its second consecutive win. the results were announced on 12 september at an awards ceremony in hong kong, attended by partners paul sephton, maggie kwok, raymond ng, and monica chu.

the alb awards celebrate excellence in the legal profession, recognising the remarkable achievements of private practitioners and in-house counsel across hong kong.

hong kong managing partner paul sephton said: “we are proud to receive this recognition from alb. our teams work incredibly hard to deliver exceptional service to our clients, and this award is a testament to their dedication. it’s especially significant as it comes on the heels of celebrating our hong kong office's 20th anniversary earlier this month. thank you to alb for this award and our clients for their unwavering trust and support.”

this year, the firm’s asia team has received several other accolades, including best offshore law firm at the china business law awards, offshore law firm of the year at the alb china law awards, and best offshore law firm at the with intelligence - hfm asia services awards. the asia team has also picked up many deals of the year and practice-specific awards.

the harneys asia practice is one of the region's most dynamic offshore legal teams. the firm’s three full-service offices across shanghai, hong kong, and singapore represent one of the largest asia networks of any offshore law firm.

harneys acted as cayman islands legal counsel to the growhub limited and as british virgin islands legal counsel to the growhub innovations company limited (a subsidiary of the growhub limited) in connection with the growhub limited's successful listing on the nasdaq stock exchange on 28 august 2025 under the ticker symbol "tghl."

the growhub limited, a singapore-based company, specialises in enhancing product traceability and authenticity within supply chains through its proprietary blockchain technology platform. the company offers innovative solutions such as blockchain traceability, anti-counterfeit measures, and carbon management, promoting transparency and sustainability in global supply chains.

the nasdaq listing marks a significant milestone for the growhub limited, providing public market access to support future funding rounds and offering increased visibility in the competitive product authentication market. this achievement positions the company to further its mission of driving transparency and sustainability in supply chains worldwide.

the harneys team was led by singapore managing partner lishi fong with support from senior associate jonathan lim, and associate edwin tan.

lishi commented: “we are thrilled to have supported the growhub limited in this landmark transaction. their nasdaq listing is a testament to their leadership in blockchain-based supply chain solutions and their commitment to innovation and sustainability. at harneys, we are proud to provide the expertise and strategic guidance needed to help our clients achieve their growth ambitions and navigate complex markets with confidence.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

harneys advised cayman islands incorporated company yorkville acquisition corp, on instructions from dla piper llp (us), in a landmark spac transaction whereby yorkville acquisition corp. will become trump media group cro strategy, inc., a new cryptocurrency-focussed digital asset treasury business backed by crypto.com.

the harneys team was led by partner george weston with support from partner david mathews, counsel james kitching, and associate reece de-vaney.

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys’ world leading blockchain and digital asset team provides a full service offering for clients involved in all aspects of the ecosystem. the team is at the cutting edge of finance and technology, providing its clients with the strategic guidance they need to thrive in this dynamic era. as well as supporting the launch of blockchains, the team advises major crypto funds, layer 2 developers, web2>web3 gaming platforms, foundations and daos, dexs, market makers, and countless other projects and enterprises engaging with web3 technology.

harneys is pleased to announce the appointment of holly hirst as chief people officer, based in the firm’s london office, effective 8 september 2025. holly will lead harneys’ global people strategy and work closely with management to refine best practices, maximise the employee experience, and reinforce the firm’s commitment to outstanding client service.

holly has over 20 years of hr experience, including senior roles at leading international law firms linklaters and herbert smith freehills. her career highlights include executing global talent programmes, leading firmwide cultural initiatives, creating a dei champion group, and crafting gender and race action plans to drive meaningful progress toward inclusivity.

global managing partner william peake commented: “holly’s depth of knowledge and leadership make this an exciting and impactful appointment for harneys. her expertise will further enhance the firm’s commitment to excellence, employee engagement, and an inclusive workplace. on behalf of the partnership, we welcome holly and look forward to working with her to develop a leading hr capability at harneys.”

harneys is an international law firm spanning all major transactional, contentious, and private client disciplines. experts in british virgin islands, cayman islands, cyprus, luxembourg, bermuda, anguilla, and jersey law, the firm’s service is built around professionalism, personal service, and rapid response.

this year marks a significant milestone for harneys hong kong, which is celebrating its 20th anniversary. the office boasts an esteemed team of experienced offshore lawyers who advise a wide range of clients in hong kong and throughout the asia-pacific region on the laws of bermuda, the british virgin islands and cayman islands.

the firm hosted an exclusive client party at the four seasons hotel in hong kong on 4 september to mark the occasion. hong kong managing partner paul sephton commented: “it’s an honour to celebrate this milestone alongside our colleagues and clients. the theme of our event, going above and beyond, captures our unwavering dedication to being a trusted advisor to our clients over the past 20 years. we remain committed to excellence and look forward to building on this legacy in the future.”

the firm’s hong kong office is renowned for its full range of award-winning contentious and non-contentious offshore legal services. these include banking and finance, corporate, digital assets and blockchain, international arbitration, investment funds, litigation and insolvency, private wealth, regulatory and tax, and restructuring, offered in english, cantonese, and mandarin. this multilingual capability ensures that harneys meets the needs of its client base, providing seamless and comprehensive legal solutions.

2025 also marks the 65th anniversary of harneys’ founding in the british virgin islands, highlighting the firm’s enduring legacy and continued evolution in offshore legal services.

harneys acted as cayman islands legal counsel to polibeli group ltd in connection with the us$3.6 billion statutory merger between chenghe acquisition ii co. and polibeli merger one limited, a subsidiary of polibeli group ltd which is in turn a subsidiary of xingyun international company limited. this strategic merger culminated in the listing of polibeli group ltd.'s business on nasdaq. the shares began trading on nasdaq on 8 august 2025, under the ticker symbol “plbl.”

this merger represents a pivotal moment in the global e-commerce landscape, underscoring the growing importance of digital platforms in streamlining supply chains and the strategic value of cross-border integration for global market players. for xingyun group, this milestone enhances its global presence, opens new frontiers for expansion, and strengthens its influence in the industry.

founded in 2015, xingyun group has established itself as a global leader in b2b e-commerce services. with a presence spanning shenzhen, hangzhou, shanghai, hong kong, and singapore, and a workforce of over 3,000 employees worldwide, xingyun has consistently driven innovation and operational excellence. the group’s proprietary “xingyun global” supply chain system integrates logistics, business flow, capital flow, and information flow, creating a closed-loop operational framework that enables rapid business innovation and exceptional efficiency for small and mid-sized enterprises globally.

our corporate team working on this project comprised partner raymond ng, counsel denise chan and legal manager jane chan. head of litigation and partner paula kay, senior associate kyle lo and associate lucille neighbour from our dispute resolution team provided ad hoc legal advice.

raymond commented: “we are delighted to have supported xingyun international company limited in this landmark transaction. the nasdaq listing of polibeli group ltd. is a testament to xingyun’s leadership in the e-commerce sector and its commitment to driving global innovation. at harneys, we are proud to provide the expertise and strategic guidance needed to help our clients achieve their growth ambitions and navigate complex markets with confidence.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

harneys has been selected as best offshore law firm 2025 by china business law journal for the seventh consecutive year. additionally, the firm earned recognition for its expertise in restructuring & insolvency and structured finance & securitisation for the second consecutive year, as well as for its expertise in internet & e-commerce and media, entertainment & sports.

shanghai managing partner vicky lord said: “we are delighted to be awarded the best offshore law firm of the year award again and would like to thank our industry peers for their support and recognition as well as our clients for their trust. we will continue to provide exceptional and efficient offshore legal support to our clients with the highest standards of professionalism and responsiveness.”

the awards are based on hundreds of nominations from corporate counsel and legal professionals around the world who specialise in the china market. in determining the winners, not only were the nominations (and the reasons accompanying each nomination) considered, but also other factors such as the law firm's landmark deals, cases, and other noteworthy accomplishments over the past year. in addition, extensive consultation with the law firm’s clients and numerous surveys were conducted to determine feedback on the nominating law firm's satisfaction with its services, in an effort to arrive at an objective and fair selection.

with three full-service offices in shanghai, hong kong, and singapore, the firm boasts a team of over 60 asia-based lawyers and stands as one of asia's leading offshore law firms.

harneys has been recognised as a top tier firm in this year’s chambers high net worth rankings, achieving band 1 for offshore trusts in the british virgin islands and band 2 in the cayman islands. this is the tenth consecutive year the firm has received these recognitions.

partner henry mander, who heads the firm’s global trust and private wealth practice, was recognised for his cayman islands and the british virgin islands expertise while based abroad. jersey head of trusts & private wealth katherine neal was ranked in the jersey guide, and partner charles moore was ranked in the cayman guide.

chambers high net worth ranks the leading and most dedicated lawyers and law firms for international private wealth management work. these extensive and market-leading recommendations, rankings, and insights are based on an in-depth analysis of more than 55 countries around the world, including every major private wealth market.

harneys’ private wealth team provides comprehensive advisory services to professional trustees, high net worth individuals and their families, financial institutions, and charities, covering the full spectrum of private client matters. the team works closely with their clients’ onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice. they ensure that the offshore elements of a structure are fully suitable and sufficiently flexible to adapt and evolve to clients’ changing needs.

harneys acted as bvi counsel to aura minerals inc. in respect of their successful initial public offering on the united states market, raising over us$196 million. the company priced its shares at us$24.25 each, reflecting strong investor demand.

aura plans to use the proceeds from the ipo to support exploration efforts and to increase liquidity and financial flexibility, helping to carry out its ongoing strategic growth plans. this transaction marks a major milestone for the company as it expands its presence in the global mining market.

aura minerals is a mid-tier gold and copper production company focussed on operating and developing gold and base metals projects in the americas. the company now has five operating mines, including the apoena (epp) and almas gold mines in brazil, the aranzazu copper-gold-silver mine in mexico, and the minosa (san adres) gold mine in honduras. aura minerals’ development projects include borborema and matupa, both in brazil.

harneys is pleased to have supported aura minerals through this important transaction. partner george weston commented: “we are delighted to have assisted our long-term client aura minerals with this incredibly exciting next stage in their journey. it has been a very active year for our corporate team globally on the capital markets side, and this deal is a great showcase of our practice.”

the harneys team was led by george and included senior associate priya mattu and associate tamika calme.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, bermuda, jersey, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands counsel on the global offering of shares by cloudbreak pharma inc., facilitating its successful listing on the stock exchange of hong kong limited (hkex). the shares began trading on hkex on 3 july 2025, raising approximately hk$611 million.

cloudbreak pharma is a clinical-stage global biotechnology company dedicated to developing ophthalmic drugs for chronic eye diseases, many of which currently have limited treatment options.

the successful completion of its ipo and listing process underscores harneys’ position as a trusted legal advisor for pharmaceutical and life sciences market leaders.

the harneys team was led by counsel denise chan and legal manager jane chan, with support from partner raymond ng. other firms advising on the matter included hogan lovells, which acted as cloudbreak pharma’s counsel, and ashurst, which acted as counsel to the joint sponsors and underwriters. ccb international capital limited and huatai financial holdings (hong kong) limited acted as joint sponsors and overall coordinators. ccb international capital limited, huatai financial holdings (hong kong) limited, cmb international capital limited, and quam securities limited acted as joint global coordinators, joint bookrunners, and joint lead managers. the firm's strategic alliance partner, harneys fiduciary, provides registered office and principal share registrar services to cloudbreak pharma.

speaking about the deal, raymond commented: “we are proud to have supported cloudbreak pharma in achieving this significant milestone. their work in developing treatments for chronic eye diseases is inspiring, and we are grateful for the trust they placed in us to guide them through this process.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore stock exchange.

harneys has been awarded best offshore law firm at the with intelligence hfm asia services awards. the ceremony took place on 3 july in hong kong, attended by the hong kong funds and regulatory team led by maggie kwok, who heads the firm’s practice in asia.

these prestigious awards celebrate apac hedge fund service providers who have demonstrated outstanding client service, strong business growth, and innovative product development over the past year. winners are selected through a rigorous judging process by a panel of prominent hedge fund coos, cfos, ccos, gcs, and ctos, ensuring that the best in the sector are recognised.

“we are thrilled to receive this recognition,” said maggie. “this award underscores our commitment to providing impeccable, down-to-earth services that empower our clients to thrive in the ever-evolving hedge fund industry. we extend our gratitude to with intelligence and our clients for their ongoing trust and support.”

harneys offers comprehensive advice on all aspects of cayman, luxembourg, and bvi funds, including formation, restructuring, and closure, whether in distressed or planned scenarios. the firm’s funds lawyers collaborate closely with harneys fiduciary, its strategic alliance partner, enabling seamless legal and administrative support for its fund clients.

harneys acted as bvi and cayman counsel to new world development company limited (new world development) in connection with its historic hk$88 billion (approximately us$11.3 billion) financing transaction, one of the largest ever in hong kong’s real estate sector. the transaction marks a significant milestone for new world development, a leading hong kong-listed conglomerate with diversified interests in property, infrastructure, and services across the greater bay area.

this landmark transaction involves restructuring and integrating select banking arrangements for new world development, enhancing the group’s ability to address its evolving operational and financial objectives. distinguished by its exceptional size and intricacy, the financing involved an extensive network of leading financial institutions from both hong kong and overseas. the matter demanded sophisticated structuring and implementation of advanced intercreditor frameworks specific to the real estate industry, setting a new benchmark in hong kong’s financial sector and signalling a pivotal advancement in the region’s approach to large-scale financings.

the harneys team was led by global head of banking & finance and corporate groups and hong kong managing partner paul sephton, with support from counsel marina tse and associate flavia au. linklaters acted as the international counsel to new world development.

paul commented: “we are delighted to have supported new world development on this landmark transaction. this deal demonstrates the strength and sophistication of hong kong’s financing market and the continued confidence in new world development’s vision.”

harneys’ banking & finance team has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives. the team’s deep understanding about the business environment in which their clients operate help build strong networks with industry players and service providers in key markets around the world.

harneys acted as cayman islands counsel to chow tai fook jewellery group limited (chow tai fook) on its successful issuance of hk$8.8 billion (approximately us$1.1 billion) convertible bonds, which are listed on the hong kong stock exchange. this transaction stands out as one of the largest convertible bond offerings in hong kong this year and reflects the continued strength of the region’s equity-linked capital markets.

the transaction featured innovative stock lending arrangements, enabling investors to borrow and sell shares underlying the bonds as part of covered short sales for hedging purposes. chow tai fook also repurchased a portion of these shares, supporting optimal pricing and helping to mitigate any potential impact on its share price. this structure builds on a precedent-setting approach in hong kong’s convertible bond market.

the harneys team was led by hong kong corporate partner raymond ng, with support from senior associate elyse kwong and legal manager jane chan. linklaters acted as the international counsel to chow tai fook.

raymond commented: “we are delighted to have supported chow tai fook on this landmark convertible bond issuance. the deal’s scale and structure underscore the increasing sophistication of equity-linked transactions in asia and highlight our team’s expertise in advising on complex cross-border capital markets matters.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

harneys is pleased to announce the opening of a new office in jersey as part of the firm’s ongoing strategy to expand its global footprint. the jersey team brings over 60 years of combined legal experience, offering a comprehensive range of legal services, including litigation & insolvency, restructuring, regulatory, corporate, banking & finance, and trusts & private wealth. with deep roots in jersey law and a reputation for commercial insight and technical expertise, the team is dedicated to delivering exceptional services that inspire confidence and meet clients’ evolving needs.

nicola roberts has relocated from singapore to lead the new office as jersey office managing partner and head of litigation, insolvency & restructuring in jersey. she has over 25 years of experience in international dispute resolution and a distinguished track record of advising on high-value, multi-jurisdictional commercial, insolvency and trust-related disputes spanning jersey, the british virgin islands, the cayman islands, and bermuda. nicola has served in senior leadership roles throughout the harneys global network, including heading the litigation, insolvency & restructuring practice in singapore and the trusts and private client group in asia.

recruits katherine neal and imogen thomas join nicola. katherine, a leading trusts and private wealth advisor with over 20 years of experience, heads the trusts and private wealth practice in jersey. she specialises in international trusts and estate planning, particularly those involving cross-border structures. she works on both contentious and non-contentious matters involving private wealth, employee incentives, offshore pensions, and philanthropic vehicles. before joining harneys, katherine served as head of employee incentives within the private wealth practice at another offshore law firm in jersey.

imogen is a seasoned commercial litigation, and contentious trust disputes expert with over 15 years of experience. she has an exceptional understanding of jersey’s legal landscape, having previously practiced at another offshore law firm in jersey for over a decade and more recently working for a private wealth, fund, and corporate administration services provider in jersey. with a diverse background spanning offshore, city, in-house, and private practice, imogen offers a unique perspective to her clients.

global managing partner, william peake, commented: “the opening of our jersey office marks another exciting chapter for harneys. jersey is an important jurisdiction for our global strategy, and i am confident that the office will thrive under nicola’s exceptional leadership. her expertise, combined with the capabilities of katherine and imogen, positions us to deliver impeccable service to our clients both locally and internationally.”

the firm’s jersey lawyers will work closely with the london team and its global network to provide seamless client services.

harneys is an international law firm spanning all major transactional, contentious, and private client disciplines. experts in british virgin islands, cayman islands, cyprus, luxembourg, bermuda, anguilla, and jersey law, the firm’s service is built around professionalism, personal service, and rapid response.

harneys acted as cayman islands legal counsel to enigmatig limited in connection with its successful initial public offering on the nyse american. the shares began trading on the nyse american on 18 june 2025, under the ticker symbol “egg.”

this listing is particularly significant as it highlights enigmatig limited’s pivotal role in providing cross-border licensing solutions and related services to small and medium-sized enterprises globally.

enigmatig limited, established in 2010, is an international consultancy firm specialising in fx brokerage consultancy, licensing, regtech, fintech, and corporate services. the company operates across global financial hubs, including london, cyprus, and belize, and has a strategic presence in hong kong, shanghai, and a representative desk in bangkok.

the harneys team was led by singapore managing partner lishi fong with support from senior associate jonathan lim. prime number capital, llc acted as the sole bookrunner for the offering, which was conducted on a firm commitment basis.

lishi commented: “we are thrilled to have played a role in enigmatig limited’s successful nyse american listing. this milestone reflects the company’s outstanding leadership in the consultancy and licensing space and its vision for driving innovation and global expansion. at harneys, we are committed to delivering tailored expertise and strategic support to help our clients navigate complex markets and achieve their long-term goals with confidence.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

harneys acted as cayman islands legal counsel to vantage corp and british virgin islands legal counsel to vantage (bvi) corporation (a subsidiary of vantage corp) in connection with vantage corp’s successful listing on the nyse american. the shares began trading on the nyse american on 12 june 2025, under the ticker symbol “vntg”.

this listing is particularly significant as it marks the first time in several years that a major tanker broker has been listed on the nyse american, highlighting vantage corp’s pivotal role in the industry.

vantage corp, founded in 2012, is a leading shipbroking company providing comprehensive services, including brokerage, consultancy, and operational support in the tanker markets. the company operates in singapore and dubai and has recently undergone a corporate restructuring to position itself for global expansion.

the harneys team was led by singapore managing partner lishi fong with support from senior associate jonathan lim and associate edwin tan. loeb & loeb llp acted as legal counsel to vantage corp, while hunter taubman fischer & li llc provided legal counsel to network 1 financial securities, inc., the sole managing underwriter and bookrunner for the offering.

lishi commented: “we are delighted to have supported vantage corp on this milestone nyse american listing. this achievement underscores the company’s leadership in the tanker brokerage industry and its commitment to driving innovation and growth. at harneys, we are dedicated to helping our clients achieve their capital markets goals with clarity, expertise, and a focus on their long-term success.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

at its plenary session on 13 june, the financial action task force (fatf) included the british virgin islands (bvi) as a jurisdiction being monitored for the active resolution of identified deficiencies in its regimes for the countering of anti-money laundering, terrorist financing, and proliferation financing. while no significant issues were identified with the bvi compliance regimes, the bvi was given a short list of action items aimed at demonstrating the effectiveness of its compliance regimes, and therefore included on the list of jurisdictions being monitored (fatf grey list).

in placing the bvi under such monitoring, the fatf stated that it “does not call for the application of enhanced due diligence measures” to the bvi, but members are encouraged to consider the listing in their risk analysis. fincen and the eu might consider adding the bvi to their advisory and aml high-risk lists, which may lead to bvi structures having to provide extra due diligence in some cases.

the bvi has consistently demonstrated its commitment to meeting international obligations and remains dedicated to the fight against financial crime in all its forms. it has taken decisive steps in recent years to enhance its compliance regimes, aligning with the caribbean financial task force recommendations through amendments to key legislation, including the counter-terrorism act, proceeds of criminal conduct act, and the criminal justice (international cooperation) act.

when the fatf places a jurisdiction under increased monitoring, it means the country has committed to engaging with the fatf to swiftly resolve the identified strategic deficiencies within agreed timeframes. other comparable jurisdictions have undergone a similar process. for example, in 2023, the cayman islands was removed from the grey list of jurisdictions after satisfying the fatf’s recommended actions.

it is important to note that this fatf decision does not mean that any direct penalties will be imposed by eu member states on the bvi or bvi structures, and this list is not linked with the list of non-cooperative jurisdictions for tax purposes published by the eu.

the british virgin islands government press release can be found here.

harneys has been named as one of the top three international firms for its hkex ipo expertise by china business law journal in its 2025 capital markets annual report.

the firm’s accomplished team of asia-based lawyers, including hong kong-based partner raymond ng and shanghai-based partners calamus huang and jessie xu, consistently provide unparalleled legal advice to clients navigating the intricacies of listing on the hong kong stock exchange and other significant global exchanges. a recent notable deal for the firm is the award-winning hkex ipo of cr beverage, where jessie served as the lead british virgin islands and cayman islands legal counsel. this noteworthy transaction successfully raised approximately us$650 million and marked the company’s shares commencement on the main board of the hong kong stock exchange.

paul sephton, the firm’s global head of banking & finance and corporate and hong kong managing partner, commented: “this recognition is a testament to the exceptional capabilities and dedication of our asia-based team, whose expertise in guiding clients through the complexities of hkex and other global ipos remains outstanding. we are proud to be recognised as a leader in this field, and we remain committed to driving success for our clients at every step of their business journeys.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore stock exchange.

harneys has been named offshore law firm (multi-jurisdiction) by eprivateclient for the second consecutive year. the results were announced on 12 june 2025 at the prestigious eprivateclient excellence awards in london, attended by the firm’s global head of trusts and private wealth, henry mander, and litigation & insolvency partner francesca gibbons, who also specialises in contentious trust matters.

henry commented: "we are delighted to once again be recognised by eprivateclient. this achievement underscores our unwavering pursuit of excellence and our commitment to providing bespoke, impactful solutions across multiple jurisdictions. our talented teams take pride in partnering with clients to address their unique and evolving needs, blending global expertise with a personalised touch to deliver truly exceptional results. we thank eprivateclient and our clients for their continued trust and partnership.”

the awards celebrate the outstanding achievements of firms across the uk and offshore legal, tax, fiduciary, and advisory professional over the past year.

the harneys private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and sufficiently flexible to adapt and evolve as those needs change.

harneys has received the m&a advisor award in the specialist wealth management (south east asia) category from wealthbriefingasia. the winners were announced at the prestigious wealthbriefingasia awards in singapore on thursday 5 june, attended by the firm’s singapore managing partner, lishi fong, and counsel henno boshoff.

the awards celebrate the best in the wealth management industry, recognising outstanding achievement, innovation, and excellence across various categories. winners are decided by an independent panel of experts following a rigorous judging process.

lishi commented, “we are delighted to receive this recognition from wealthbriefingasia. this award reflects our team’s commitment to delivering exceptional legal service and innovative solutions for our clients. we thank our clients for their trust and partnership.”

harneys’ corporate team specialises in complex cross-border transactions across british virgin islands, cayman islands, cyprus, and luxembourg vehicles, boasting a notable track record in high-value private equity transactions, landmark ipos, mega-deals, and a broad range of public and private m&a and joint ventures. the private wealth team complements this by delivering tailored, pragmatic advice, working closely with clients and their tax and legal advisors to manage intricate assets and acquisitions, from businesses and fine art to property and private islands.

harneys is proud to mark the 65th anniversary of its founding and has committed to continuing the firm’s long-standing legacy of innovation and excellence.

harneys was established on 1 june 1960 when an antiguan lawyer named harold harney opened the first resident legal practice in the british virgin islands. what began as a humble endeavour has since flourished into harneys, an international law firm employing over 400 people across nine locations worldwide.

global managing partner william peake said: “as we celebrate 65 years, we reflect on our history and thank our past and present clients, partners, and employees whose contributions have been integral to our enduring success. this milestone is not just about looking back but also about committing to the future – to innovation and excellence. i am immensely proud of what harneys has achieved and look forward to continuing this legacy for years to come.”

in recognition of the anniversary, harneys bvi has launched a community service initiative “65 for 65” under the theme “built on excellence, fuelled by innovation, driven by people”. through 65 for 65 the bvi office will celebrate the legacy and longevity of harneys through 65 charitable and hands-on initiatives during 2025.

bvi managing partner tanya cassie-parker said: “the bvi is where harneys was founded, and we owe much of our success to the bvi’s longstanding position as a leading international finance centre. in recognition of our abiding relationships in the bvi we have decided to mark the firm’s 65th anniversary by giving back to the bvi community in a special way.”

2025 also marks the 20th anniversary of harneys’ hong kong office.

harneys acted as cayman islands counsel to fast track group, a leading entertainment-focussed event management and celebrity agency company, in connection with its successful public offering of 3,750,000 ordinary shares. the shares are listed on the nasdaq capital market under the ticker symbol “ftrk.”

fast track group is a leading entertainment-focussed event management and celebrity agency company. established in singapore in 2012, the company has grown its presence across the asia pacific region, becoming the go-to partner for organisers of events and endorsements.

the harneys team was led by singapore managing partner lishi fong with support from senior associate jonathan lim and associate rory coughlan. loeb & loeb llp, harney westwood & riegels singapore llp, and rajah & tann singapore llp provided legal counsel to fast track group for us, cayman islands, and singapore-related matters, respectively. akerman llp served as us legal counsel to alexander capital for this transaction. the lead book-running manager for the offering was alexander capital, l.p., with network 1 financial securities, inc. serving as co-underwriter.

lishi commented: “we are proud to have supported fast track group on their successful public offering and nasdaq listing. the company’s innovative business model and strong leadership have positioned it for exciting growth ahead. this milestone reinforces harneys’ ongoing commitment to helping clients navigate key capital markets milestones with confidence and clarity.”

the transactional team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore exchange.

harneys has won offshore law firm of the year at the asian legal business china awards 2025 for the third consecutive year. in addition, the firm picked up the equity market deal of the year award for its involvement in sf holding's hong kong initial public offering and listing. the results were announced at an awards ceremony on 15 may at the park hyatt beijing, in china, attended by partners calamus huang and jessie xu, as well as counsels vivian ma and lily zhang.

the deals

sf holding’s hong kong initial public offering and listing (led by raymond ng) – harneys acted as british virgin islands and cayman islands legal counsel to sf holding, asia’s leading logistics provider, in its groundbreaking global offering and listing on the main board of the hong kong stock exchange. the listing raised approximately hk$5.83 billion (us$749 million), solidifying its position as the second-largest ipo in hong kong in 2024.

the firm was also shortlisted for private equity law firm of the year – international, and for two deal of the year awards for its involvement in the china aoyuan group offshore debt restructuring (led by chai ridgers and paul sephton) and china resources beverage’s initial public offering (led by jessie xu).

shanghai managing partner vicky lord commented: “we are delighted to have been honoured with these prestigious awards. we would like to thank our clients and colleagues for recognising us and for their continued trust and support. we see these awards as a motivation for us to continue to excel in providing responsive, efficient, and innovative legal services to all our clients.”

over the past year, the firm has also won offshore law firm of the year and 11 deal of the year awards from china business law journal, confirming harneys' industry-leading expertise in navigating complex legal environments.

the alb china law awards pay tribute to the outstanding performance of private practitioners and in-house teams in china.

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 dispute resolution 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.

harneys acted as bvi legal counsel to rob couhig in the successful acquisition of reading football club. the transaction also included the purchase of the football club’s home ground, the select car leasing stadium.

reading fc is a professional football club based in reading, england. it was established in 1871 and is one of the oldest football clubs in england. the club currently plays in league one, narrowly missing out on a play-off place in the 2024-2025 season.

the harneys team was led by partner george weston with support from counsel james kitching and associate reece de-vaney. bvi managing partner tanya cassie-parker also advised on a bridge financing. kitson boyce advised on the uk law aspects of the transaction.

george said, "we are delighted to have assisted rob couhig and his team on the acquisition of reading football club. this deal was very much in the public eye and had a number of challenging aspects, including the need to meet tight deadlines imposed by the english football league. the acquisition will help ensure the survival of a football club which is more than 150 years old. we know that rob and his team have exciting plans to revitalise both the club and its stadium."

rob couhig commented, "i want to thank george and his team for their counsel and expertise throughout. their guidance on due diligence and structuring was instrumental in getting this deal done. the team’s professionalism and responsiveness were highly impressive."

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys acted as cayman counsel for the launch of the en growth fund, a co-led initiative by the development bank of japan inc. (dbj) and charoen pokphand group (cp group) of thailand. the fund, structured through two vehicles, brings a combined assets under management (aum) of jpy 18 billion and aims to support japanese businesses in expanding their presence across asia.

the en growth fund succeeds the 2014 en fund, which was founded to facilitate japanese companies' regional growth. building on its predecessor’s accomplishments, the en growth fund leverages cp group’s vast value chain and local networks to foster investment opportunities, enabling sustainable development for businesses abroad.

this collaboration reflects dbj and cp group's dedication to strengthening economic connections between japan and asia’s dynamic markets. harneys is proud to have provided expert legal advice in structuring and launching this fund, ensuring its alignment with strategic international growth objectives.

the harneys team comprised partner yucheng fan, and associate julia xie. speaking about the deal, yucheng said: “we are proud to have played a key role in the launch of the en growth fund, a strategic initiative that reinforces the strong economic partnership between japan and asia. this fund exemplifies how legal expertise can support innovative structures designed to empower businesses, foster growth, and create lasting value across the region. we look forward to seeing the positive impact this collaboration will bring to its stakeholders.”

the dbj-cp group commented: “we are delighted to have worked with harneys on the launch of the en growth fund, a key milestone in our mission to support japanese businesses in cultivating their presence in asia. this fund represents not only a strategic partnership between dbj and cp group but also a shared vision for driving sustainable economic growth in the region. harneys’ exceptional legal expertise and deep understanding of cross-border structures have been instrumental in ensuring the fund's robust foundation. we look forward to seeing the fund unlock new opportunities and contribute meaningful value to businesses and communities across asia.”

harneys’ investment funds team advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund, including formation, restructuring, and closure, both in distressed and planned scenarios. the firm’s funds lawyers sit side-by-side with the funds team from its strategic alliance partner, harneys fiduciary, allowing harneys to provide integrated legal and administrative support to its funds clients.

harneys has strengthened its global digital assets & blockchain practice with the appointment of david mathews, who joins the firm as a partner based in its cayman islands office, effective 14 april 2025.

david brings a wealth of blockchain-based expertise from extensive experience across multiple jurisdictions, including being a leading protagonist in the british virgin islands during the adoption of the vasp legislation. he has advised on a significant number of token offerings, dao structures, platform launches, trading operations, and other crypto projects. he has represented clients across the web3 sector, ranging from founder-led start-ups to large institutions, including clients from both the decentralised and traditional finance sectors.

philip graham, global head of digital assets & blockchain at harneys, commented: “we are delighted to welcome david to a leadership position in our global team. he brings a wealth of experience and a results-driven approach that will undoubtedly strengthen our ability to continue to support clients across the americas region and far beyond. his comprehensive understanding of blockchain technology, web3, crypto, and digital assets, combined with his corporate structuring expertise, make him an invaluable asset to our team and client offering."

in the constantly evolving world of blockchain technology, web3, crypto, and digital assets, harneys has stood at the forefront for a decade, offering expert guidance on contentious and non-contentious matters in all of its offices. the firm’s digital assets and blockchain experts span various practices, including banking and finance, corporate, investment funds, and litigation.

harneys acted as cayman islands counsel to cuprina holdings (cayman) ltd. in connection with its successful public offering of 3,000,000 class a ordinary shares. the shares are listed on the nasdaq stock market under the ticker symbol "cupr."

cuprina is a singapore-based biomedical and biotechnology company dedicated to the development and commercialisation of products for the management of chronic wounds as well as cosmeceuticals for the health and beauty sector.

the harneys team was led by singapore managing partner lishi fong with support from senior associate jonathan lim and associate edwin tan. r. f. lafferty & co., inc. acted as the sole book-running manager for the offering. loeb & loeb llp and lee & lee acted as us and singapore legal counsel to the company, respectively, while winston & strawn llp served as us legal counsel to r. f. lafferty for the offering.

lishi commented: “we are delighted and honoured to support our client cuprina holdings on their successful public offering and nasdaq listing. this achievement highlights our team’s deep expertise in handling complex cross-border transactions and our commitment to delivering exceptional results for our clients. we look forward to continuing to assist clients in achieving their strategic goals in the global financial markets.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore stock exchange.

harneys acted as cayman islands counsel to reva corporation in connection with the establishment of ci1 lp and gt1 lp. the primary objective of both funds is to offer investors risk-adjusted returns through a portfolio of control investments in small to medium-sized enterprises, which are either headquartered in japan or conduct their primary business operations there. this is achieved by enhancing these businesses through the acquisition of rights to influence or voting rights that can affect management decisions. this landmark transaction marked the first time a japanese manager successfully admitted international institutional investors into their initial funds.

reva is an emerging private equity fund manager providing management support to various companies both within japan and internationally.

the harneys team was led by partner yucheng fan, with support from counsel jacquelyn wong and legal manager betty chen. kirkland & ellis served as a lead legal counsel on the international fundraising, while nagashima ohno & tsunematsu served as legal adviser for japanese law.

harneys’ investment funds team advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund, including formation, restructuring, and closure, both in distressed and planned scenarios. the firm’s funds lawyers sit side-by-side with the funds team from its strategic alliance partner, harneys fiduciary, allowing harneys to provide integrated legal and administrative support to its funds clients.

harneys cyprus continues to maintain its tier 1 rankings in the 2025 edition of the legal 500 for both its banking & finance and commercial, corporate and m&a practices, while maintaining its tier 2 ranking for tax for the seventh consecutive year.

pavlos aristodemou, cyprus managing partner, has been recognised in the hall of fame for his excellence in banking & finance. partner nancy erotocritou has been ranked as a leading individual in both banking & finance, as well as in commercial, corporate, and m&a. consultant demetris loizides was also honoured as a leading individual and partner sonia hamshaw was named among the next generation partners for their contributions to commercial, corporate, and m&a.

clients continue to praise harneys cyprus for its proactive and solutions-driven approach. feedback highlights their "highly capable, responsive, and user-friendly team," with special recognition for aki corsoni-husain's standout corporate sanctions advice. one client noted, “over the last few years, we have been consistently very impressed”.

speaking about the recognition, pavlos commented, "we are delighted to receive continued recognition from legal 500. this achievement reflects the unrelenting dedication, skill, and passion of our team. we remain committed to delivering the highest standards of excellence and innovation to our clients."

harneys cyprus stands as a trusted partner for international and cross-border transactions, consistently involved in complex corporate matters and high-level acquisitions. with a strong physical presence in cyprus, harneys is ideally positioned to provide comprehensive legal support tailored to the unique needs of businesses across diverse industries.

harneys is pleased to announce that mary ward has been appointed to lead its bermuda corporate practice effective 1 april 2025.

mary advises on a broad range of commercial and corporate legal matters, including mergers and acquisitions, company restructuring, private equity transactions and insurance licensing, transactional and regulatory advice. she also provides advice on finance mandates covering debt and equity offerings, structured and project finance, and secured lending. she is regularly instructed by financial institutions, international and local banks, public companies, private equity firms, and onshore law firms.

before joining harneys, mary spent 20 years at the bermuda offices of two other global offshore law firms. prior to that, she worked for international law firms linklaters in new york and slaughter and may in london.

bermuda managing partner henry tucker commented: “mary’s appointment is an important milestone for the firm as we continue to pursue our mission to bring the very best lawyers together in key areas of practice critical to the continuing success of our clients and the bermuda market as a whole. mary is a highly sought after corporate legal advisor to bermuda corporates and (re)insurance market participants because she delivers her industry-leading experience and technical knowledge with an uncompromising personal dedication to execution and reliable service. i am delighted that mary will now bring these qualities to harneys in her new role as the leader of our bermuda corporate offering.”

mary’s appointment reflects harneys' ongoing investment in its team and commitment to broadening access to the bermuda market across its global network.

harneys is pleased to announce that partner and head of bvi transactional, george weston, has been elected by the bvi finance board of directors as its chairman.

his practice focuses on corporate and commercial law, including mergers and acquisitions, takeovers, downstream private equity investments, joint ventures, public and private share offerings, capital raisings, and corporate reorganisations, and he has worked on some of the jurisdiction’s most notable deals. george has been an industry elected director of bvi finance since 2021.

george said: “i am very honoured that the board of directors has elected me to be the next chair of bvi finance, an organisation that continues to do incredibly important work in promoting and protecting the financial services industry in the bvi. the next few months are likely to be especially significant ones for the jurisdiction, and i am looking forward to working with the bvi finance team, my fellow directors, the bvi government and the wider industry. i am confident that together we have the expertise to navigate the road ahead. i would also like to take the opportunity to thank the outgoing chair, sabinah clement of vistra, for her leadership and hard work over her term. "

george will now chair a distinguished group of professionals on the bvi finance board of directors. the current board includes senior industry elected representatives across financial services, including law, fiduciary services, accountancy and insolvency. the board also includes government-appointed representatives.

harneys has won 11 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.

the deals

• alibaba proposed acquisition of cainiao’s minority shares (led by calamus huang and vicky lord): acting as cayman counsel to cainiao smart logistics network limited in its merger with ali xy investment holding limited, a wholly-owned subsidiary of alibaba group holding limited with cainiao as the surviving company.
• aoyuan’s offshore debt restructuring (led by paul sephton, chai ridgers, claire goldstein, and ben hobden): acting as cayman and british virgin islands counsel for china aoyuan group limited in relation to its us$6.2 billion debt restructuring.
• astrazeneca acquisition of gracell (led by jessie xu): acting as cayman counsel to gracell biotechnologies inc., a nasdaq-listed company, in its merger and acquisition with astrazeneca for an aggregate consideration of up to approximately us$1.2 billion.
• cr beverage’s hk$5 billion debut on hkex (led by jessie xu): acting as cayman and bvi counsel to china resources beverage (holdings) company limited in relation to its global offering with an issue size of approximately us$650 million and its listing on the main board of the hong kong stock exchange.
• evergrande debt restructuring (led by chai ridgers, nick hoffman, and ian mann): acting as cayman islands and bvi law counsel to the ad hoc group of holders of bonds issued by evergrande in relation to the us$22.7 billion restructuring of evergrande’s offshore liabilities. evergrande is one of the largest and most well-known prc property developers.
• i-mab divests china operation (led by calamus huang and vicky lord): acting as cayman counsel to i-mab in relation to structuring the divestment of its china operations and directors’ duties.
• kaisa offshore debt restructuring (led by chai ridgers): acting as cayman islands and british virgin islands counsel to kaisa group holdings ltd in relation to the restructuring of approximately us$13 billion of its offshore debt liabilities.
• lai sun sells stake in aia central to aia (led by paul sephton): acting as bvi counsel to lai sun development company limited as vendor in their disposal of 10 per cent equity interest in bayshore development group limited, which holds the entire legal and beneficial interest of aia central, to a wholly-owned subsidiary of aia group limited.
• sky taipei developer rights and ownership dispute (led by ian mann): advising a high-net-worth individual in the enforcement of security interests and massive debt restructuring relating to the largest ongoing real estate development project in taiwan, involving the construction of a skyscraper which is expected to be a prominent landmark at the heart of the taipei city comprising of luxurious hotels, renowned retail brands and exquisite restaurants.
• sunac’s us$10.2 billion offshore restructuring (led by chai ridgers and paul sephton): acting as offshore counsel for the ad hoc group of bondholders and lenders of sunac china, a hong kong listed property developer in the prc, in relation to sunac china’s financial restructuring of its offshore liabilities.
• yuzhou group debt restructuring (led by chai ridgers and ben hobden): acting as offshore counsel to yuzhou group holdings company limited in relation to its us$6.8 billion restructuring of offshore liabilities.

these china-focussed deals were led by partners in the firm’s shanghai and hong kong offices, who worked in seamless collaboration with teams in the firm’s global offices.

shanghai managing partner vicky lord commented: “we are incredibly proud to have been awarded 11 deal of the year awards, a remarkable achievement that underscores harneys’ dedication to providing exceptional legal services and innovative solutions to our clients. these accolades are a testament to the hard work and expertise of our teams, who consistently adapt to meet the demands of rapidly evolving markets. we thank china business law journal for this recognition and our clients for trusting us with their instructions."

every year, the china business law journal gathers feedback from hundreds of in-house counsels and industry professionals, combined with the editorial team's feedback, and compiles a prestigious awardee list.

the harneys network is one of the largest among offshore law firms in asia, and operates in the 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 dispute resolution 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.

harneys has proudly sponsored the commonwealth parliamentary association youth parliament programme in the cayman islands for the eighth consecutive year. the cayman islands youth parliament (ciyp) is held annually and is a unique opportunity for participants aged 15-25 to learn first-hand about democracy and parliamentary practices while also having their voices heard.

during the programme, participants learn about the practices and procedures of the parliament of the cayman islands and use their voices to bring about social change through meaningful representation and debate. the programme demonstrates to future young parliamentarians the role and purpose of parliaments as institutions for democracy and good governance.

zena merren-chin, clerk of the parliament of the cayman islands, said: “the parliament is truly grateful for the continued support of harneys for this programme. the students that participate are provided the opportunity to learn parliamentary procedures and practices and they take great pride in preparing relevant topics to debate during the ciyp debate in march 2025.”

jessica williams and ben hobden, co-heads of the firm’s litigation & insolvency and restructuring teams in the cayman islands, presented the cheque to the ciyp. jessica stated, “it is great to witness this next generation of parliamentarians learn key skills they will take with them as they develop into future leaders.” ben wished the group “every success throughout their journey.”

the 18th youth parliament (2024-2025) began its weekly meetings on 1 october 2024. participants have since spent the past few months learning about parliamentary procedures and developing a motion or bill of their choosing for the live debate on monday, 10 march 2025, at 10:30 am.

harneys is an international law firm committed to making a positive footprint in each locale where its team members live and work. in that spirit, harneys regularly contributes resources that strengthen its local communities.

supporting three companies with successful nasdaq listings and over us$21 million in fundraising

harneys acted as cayman counsel in the initial public offerings of plutus financial group, oneconstruction group, and pharma digital technology holdings, facilitating their successful listing on the nasdaq capital market. trading under the symbols plut, oneg, and hkpd, the transactions collectively raised gross proceeds of approximately us$8.4 million, us$7 million, and us$5.6 million, respectively

plutus financial group, a hong kong-based holding company, manages two subsidiaries, plutus securities and plutus asset management. plutus securities, licensed by the sfc, delivers trading, margin financing, and capital market services. meanwhile, plutus asset management provides wealth management, fund management, and investment consulting across various asset classes.

oneconstruction group is a leading structural steelwork contractor headquartered in hong kong, catering to both public and private sector projects. their expertise spans procurement and installation of structural steel for residential, commercial

pharma digital technology holdings operates within hong kong’s otc pharmaceutical cross-border e-commerce sector. the company offers end-to-end supply chain services, including procurement, regulatory compliance, warehousing, and logistics, with operations extending across mainland china. their integrated solutions address the increasing demand for efficient pharmaceutical supply chain services.

by leveraging harneys’ expertise, these companies have successfully navigated the complexities of ipo and nasdaq listing processes. the achievement underscores harneys’ position as a trusted legal advisor for global fundraisers and market leaders.

the harneys team comprised partner raymond ng, counsel denise chan, and paralegal matt ip. speaking about the deals, raymond said: “we are proud to have played a pivotal role in facilitating these successful nasdaq listings. grateful for the trust placed in us, we look forward to future opportunities and remain dedicated to driving success with expertise and focus.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

harneys continues to achieve significant recognition in the chambers global guides with several band 1 rankings and individual lawyer accolades.

british virgin islands

the bvi team retained their band 1 ranking for their corporate & finance and investment funds expertise. sources say their “commitment to excellent service and quick responsiveness makes them a valuable asset to any client”.

global head of the firm’s investment funds and digital assets groups, philip graham, noted as “by far the leading funds lawyer in the bvi” maintained his band 1 ranking, with partner george weston and consultant michelle frett-mathavious also ranked.

george is described as “an acknowledged expert” and a “go-to person for all corporate legal work in the bvi” and sources say michelle is “one of the best banking and finance lawyers in the jurisdiction”.

clients say the dispute resolution team “can handle multiple work streams simultaneously”. in particular, partner claire goldstein was praised as “a seasoned senior litigator in the bvi”, earning a band 1 ranking with partner christopher pease also ranked.

clients described christopher as “cerebral, commercial and strategic” and a lawyer “at the top of his game”, with andrew noted as being “well versed in liquidation, asset tracing, and insolvency matters involving multiple jurisdictions.”

uk – offshore: bermudian, british virgin islands and cayman islands law

the london team were ranked as band 1 for british virgin islands law. sources note that they “have always been prompt, precise, reliable and responsive” with a member of the team “always available to respond and advise on time-critical complex matters”.

global managing partner william peake and partner john o’driscoll were listed as cayman foreign experts with london managing partner rachel graham, listed as a bvi foreign expert.

clients described william as “an absolute genius… very approachable and team-oriented”, rachel as providing “user-friendly, commercially pragmatic advice”, and john as a “go-to bvi lawyer for contentious mandates”.

asia-pacific region - offshore

eight lawyers were featured across the hong kong, shanghai, and singapore offices with the team being recognised for their ability to “break down complex matters, identify the related information and provide accurate legal advice”. partner ian mann, noted for his “distinguished reputation for handling high-stakes litigation and restructuring and insolvency cases”, maintained his band 1 ranking, with partners paul sephton, paula kay, maggie kwok, raymond ng, chai ridgers, vicky lord, and lishi fong also listed.

maggie was recognised for being “commercial and client-orientated”. clients praised paula’s understanding “of the offshore world” and “local understanding of asian clients”, while newly-ranked vicky and lishi were noted for being “reliable, responsive and professional”, and “versatile in financing, m&a and fund formation work” respectively.

bermuda

the managing partner of the firm’s bermuda office, henry tucker, was described by clients as “an extraordinary courtroom lawyer who does an exceptional job on his feet in court”, and a “bright, ambitious and hard-working lawyer” who “leaves no stone unturned”.

cyprus

cyprus managing partner pavlos aristodemou and partner nancy erotocritou were listed in the cyprus guide for general business law, with nancy maintaining her band 1 ranking.

the team was described as a “team of experts dedicated to each area of the law, all of whom are of a high calibre and excellent communicators”. they were especially praised for being “knowledgeable and experienced, with a commercial understanding and punctual approach for answering questions”.

cayman islands

seven lawyers from the cayman office were featured across the corporate & finance, dispute resolution, and investment funds guides, with clients commending them for being “an extremely strong team of partners with a good number of experienced senior associates. the team as a whole is very responsive, and we always receive attention from the partners on our case.”

global head of the firm’s litigation & insolvency and restructuring groups, nick hoffman was noted by clients as “very smart and very articulate. he is a good commercial thinker and is very approachable. he gives clear, straightforward advice.”

partners ben hobden, grainne king, and james smith continue to climb the rankings in their respective guides.

clients were “very impressed with ben's service, responsiveness and commercial considerations”, grainne was described as being “thorough, reliable and commercial, with a good grasp of strategy and good client-facing skills”, and james was praised for demonstrating “exceptional strategic thinking and a deep understanding of cayman structuring processes”.

clients say partner jessica williams “is fabulous in insolvency and restructuring - she is easy to work with, dedicated, careful, thoughtful and has excellent emotional intelligence”.

partners daniella skotnicki and matt taber were ranked within the investment funds guide. daniella was noted as being “thorough, focused and offers strong attention to detail”, while matt was described as “personable, approachable and very knowledgeable.”

anguilla

harneys remains the sole firm acknowledged for its anguilla legal expertise based abroad. noted as “very reliable and sophisticated”, consultant michelle frett-mathavious continues to be the only british virgin islands based lawyer listed as an anguilla expert.

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service and rapid response. open, progressive and personable, the firm provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda, anguilla, and jersey law to an international client base which includes the world’s top law firms, financial institutions, investment funds, and private individuals.

ranked lawyers

harneys is pleased to have acted on behalf of polaris renewable energy inc. on the bvi law aspects of the successful private placement of us$175 million senior secured green bonds with a us$50 million tap option.

the bonds will have a tenor of five years and a fixed coupon rate of 9.5 per cent per annum, with interest payable in semi-annual instalments. the green bonds will include a tap feature, allowing access to an additional us$50 million in funding for potential future uses.

the proceeds from the bond issuance will be allocated to refinance certain existing debt facilities, acquire the punta lima wind farm in puerto rico, and support further investments in renewable energy assets.

polaris renewable energy inc. is a canadian publicly traded company focussed on acquiring, developing, and operating renewable energy projects in latin america and the caribbean.

the harneys team was led by partner george weston, with support from associate rhonda brown.

george said: “we are delighted to have supported polaris renewable energy inc. on this significant bond issuance, which underscores our strength in advising on complex cross-border financing transactions. the renewable energy sector continues to be a key focus for us, and we are proud to assist clients in structuring sustainable investments that drive growth across latin america and the caribbean. we are seeing a growing trend of listed companies turning to the debt capital markets for financing, as equity valuations remain relatively low.”

harneys has a long-standing relationship with polaris, having advised them on the original acquisition of the union energy group in 2018.

harneys has extensive experience in both the wider energy sector and specifically in the renewable energy sector and has worked on several esg initiatives where clients explored socially conscious and environmentally sustainable projects using offshore companies. the firm’s global team of lawyers advise on a variety of renewable energy financing and acquisition projects, including joint ventures, m&a transactions, and debt and equity capital raises.

harneys is proud to announce its recognition as the runner-up for law firm of the year - caribbean at the 2025 citywealth ifc awards. the award was celebrated on january 28 at a prestigious ceremony in london, attended by counsel matthew howson.

henry mander, global head of trusts and private wealth, commented on the honour: “we are grateful to citywealth for recognising our team’s dedication to delivering exceptional service. our global private wealth team remains focused on providing tailored, practical solutions across industries and jurisdictions, ensuring we meet our clients’ complex needs with precision and care.”

the citywealth ifc awards spotlight excellence, innovation, and leadership within the private wealth sector. finalists and winners are carefully selected as standout performers, demonstrating unparalleled expertise and commitment to client service.

harneys’ private wealth team continues to exemplify these values, offering bespoke advice in collaboration with onshore tax and legal advisors. from structuring cross-border assets and guiding business acquisitions to facilitating the purchase of fine art or private islands, the team ensures offshore structures are not only tailored to meet clients’ current needs but are positioned to adapt to their future goals.

harneys hong kong has retained its tier 1 ranking for "offshore law firms - hong kong" in the legal 500 asia pacific 2025 guide. this accolade underscores the firm’s position as a leader in the offshore legal industry and highlights the expertise and dedication of its team.

additionally, six partners have been recognised as leading partners in their respective fields: julie engwirda, maggie kwok, ian mann, raymond ng, chai ridgers, and paul sephton.

the firm’s outstanding reputation is further reflected in the positive feedback received from clients. clients praised the firm, saying, "paul sephton is energetic, responsive and gives sophisticated advice." another added, "unique qualities of harneys - the firm stands out for its deep expertise in offshore legal matters, particularly in the realms of litigation, insolvency, and restructuring. the firm's ability to navigate complex cross-border transactions with agility and its tailored approach to legal solutions set it apart in the competitive legal landscape of hong kong. one of the best offshore law firms in town." these testimonials underscore the trust and high regard clients place in harneys’ services.

hong kong managing partner paul sephton remarked, “we are delighted to have retained our tier one status and numerous leading partner rankings, these achievements underscore the exceptional talent and dedication within our team. we are most grateful to all of our clients who continue to repay our dedication with their support.”

the legal 500 asia-pacific guide is a prestigious publication that offers a comprehensive analysis of law firms across the asia pacific region. its rankings are based on extensive research and feedback from clients and peers.

harneys hong kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in english, mandarin, and cantonese. the firm’s three full-service offices across hong kong, singapore and shanghai represent one of the largest asia networks of any offshore law firm.

harneys singapore is proud to be recognised in the legal 500 asia pacific 2025 rankings.

managing partner lishi fong and partner nicola roberts are recognised as leading partners, while jayesh chatlani is honoured as a next generation partner. lishi is celebrated for her expertise in banking and corporate matters, while also establishing the firm as a key player in the evolving crypto space. nicola is noted for her accomplished work as a litigator, where her expertise and unflappable demeanour continue to set industry standards.

clients have praised the team’s remarkable approach, describing them as “incredibly responsive and able to work calmly under pressure such as to deliver sound results.” nicola, in particular, receives commendation as being “incredibly switched on and dedicated to delivering legally and commercially sound solutions.” these testimonials underscore the team's ability to consistently deliver high-quality results under complex circumstances.

lishi commented, “we are deeply grateful to be acknowledged by the legal 500 rankings for our singapore practice. this recognition is a testament to the trust our clients place in us and the collaborative relationships we have built with our in-house peers. our team remains steadfast in providing exceptional service, leveraging our expertise across offshore structures to deliver innovative and effective solutions for our clients’ evolving needs.”

harneys singapore offers a full range of award-winning contentious and non-contentious offshore legal services including corporate, banking, finance, investment funds, private wealth, trusts, litigation, insolvency, and regulatory in english, cantonese, and mandarin.

harneys acted as british virgin islands and cayman islands legal counsel to new gonow recreational vehicles inc. on its global offering and listing of shares on the main board of the hong kong stock exchange, raising gross proceeds of approximately us$40 million.

with the second-largest market share in australasia’s recreational vehicle (rv) industry, new gonow specialises in the design, development, manufacturing and sale of towable rvs. built upon a vertically integrated business model, new gonow is capable of combining its in-house product design and manufacturing expertise in china with its local sales capabilities in australasia.

partner raymond ng led the charge on this project. he said: “we are pleased to assist new gonow in becoming the first chinese rv manufacturer to go public. with the new funds raised, we look forward to continuingly supporting them in expanding their business operations and strengthening their sales and distribution network.”

the firm's strategic alliance partner, harneys fiduciary, provides registered office service and acts as principal share registrar to new gonow.

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

the harneys group is pleased to announce that a number of entities within the group have changed their legal names from the start of this calendar year.

with effect from friday 3 january 2025:

• the name of the firm’s british virgin islands office changed to harney westwood & riegels (bvi) lp
• the name of the firm’s cayman islands office changed to harney westwood & riegels (cayman) llp
• the name of the firm’s london office changed to harney westwood & riegels (uk) llp

in each case there is no change to the underlying legal entity – only the name of the relevant partnership has changed. harneys hopes that these changes will assist its clients and the public better differentiate between the associated law firms within the harneys group.

in addition, from friday 3 january 2025:

• the firm’s british virgin islands office ceased to use po box 71 for postal correspondence, and now uses po box 90. po box 71 is now used solely by the firm’s strategic alliance partner harneys fiduciary, but mail sent to the old post office box will continue to be forwarded to harneys.
• the firm’s cayman islands office ceased to use po box 10240 for postal correspondence, and now uses po box 11088, and its post code has changed to ky-1008. po box 10240 is now used solely by the firm’s strategic alliance partner harneys fiduciary, but mail sent to the old post office box will continue to be forwarded to harneys.

harneys wishes all of its clients and colleagues around the world a safe and prosperous 2025, and looks forward to continuing to serve you during this year and the years to come.

harneys is pleased to announce the promotion of two partners, eight counsel, and six senior associates across its bvi, cayman, cyprus, hong kong, london, singapore, and shanghai offices. in addition, the firm has made two leadership changes with partner george weston appointed bvi head of transactional, and partner james smith appointed cayman islands head of transactional. all changes are effective 1 january 2025. these promotions underscore harneys’ commitment to nurturing and rewarding talent as part of its commitment to delivering the highest quality client service and continued growth.

the two new partners are strachan gray, based in the firm’s hong kong office, and james petkovic, located in the bvi.

strachan has over a decade of experience specialising in restructuring, insolvency, fraud, asset tracing, and shareholder disputes. he has extensive knowledge in obtaining injunctive relief, including freezing injunctions, anti-suit relief, and disclosure orders.

james has more than 12 years of experience in commercial litigation, with a practice that includes fraud, oil and gas, and banking disputes as well as a range of other commercial matters including contractual and restitution disputes.

george weston has been a member of the firm for almost a decade, prior to which he spent seven years at the london office of paul hastings. he advises on all aspects of corporate and commercial law, including mergers and acquisitions, takeovers, private equity investments, share offerings, capital raisings, and corporate reorganisations and leads the firms spac practice group in the americas. he has particular expertise working with leading law firms and private equity investors on cross-border corporate acquisitions and joint ventures.

james smith was promoted to partner in 2022 and advises on all aspects of the set-up, operation and closure of investment funds including corporate governance, regulatory compliance and the automatic exchange of tax information. he also has a particular focus on latin american projects and is specifically experienced in helping brazil-based managers with their offshore fund structures.

in their new roles, george and james will continue to develop the firm’s offering in the bvi and cayman islands across its transactional services and will help to drive forward the firm’s growth strategy. harneys advises on a range of blue chip and complex finance deals, including equity related issues, complex cross-border transactions, joint ventures, mergers, acquisitions, and restructurings.

global managing partner william peake commented: “on behalf of the partnership and personally, i would like to express heartfelt congratulations to everyone who has been promoted. their dedication, expertise, and commitment to excellence have strengthened our firm and have been integral to our success. at harneys we are committed to developing talent from within, offering our team dynamic opportunities to grow and thrive. promotion rounds are always a time of immense pride for the business as we reflect on our future stars and leaders in the years to come.”

full list of other promoted individuals

counsel

the firm’s new counsel are:

• natalie bundy (investment funds | london)
• marissa christodoulidou (corporate | cyprus)
• james kitching (corporate | bvi)
• annie liu (corporate | hong kong)
• aline mooney (litigation, insolvency, and restructuring| cayman)
• caitlin murdock (litigation, insolvency, and restructuring | cayman)
• lily zhang (corporate | shanghai)

senior associates

the firm’s new senior associates are:

• greg coburn (litigation and insolvency | cayman)
• jonathan lim (banking & finance | singapore)
• kyle lo (litigation, insolvency, and restructuring | hong kong)
• priya mattu (corporate | bvi)
• titus teo (litigation, insolvency, and restructuring | singapore)
• robert van buuren (corporate | london)

*all promotions are subject to the necessary regulatory approvals.

harneys acted as british virgin islands and cayman islands legal counsel to dmall inc., xiaocaiyuan international holding ltd., and healthyway inc. on their global offering and listing of shares on the main board of the hong kong stock exchange, raising gross proceeds exceeding us$235 million.

dmall is the 12th british virgin islands company to have listed on the hong kong stock exchange. being the largest retail digitalisation solution provider in china by revenue in 2023, dmall provides retail digitalisation solutions to retailers engaged in the business of selling merchandise to consumers located in close proximity through offline channels or online channels.

with over 650 self-operated restaurants spreading across 14 provinces in china under operation, xiaocaiyuan is a renowned chain restaurant in china’s mass chinese cuisine market. the company was founded by wang shugao in 2013, who started his career as a chef.

as one of the applicants closing its listing on the final full-day trading day in hong kong, healthyway operates a digital health and medical service platform in china. it is the fourth largest digital health and medical service platform in terms of the number of registered individual users on its platform.

the harneys team comprised partner raymond ng, counsel denise chan, senior associate annie liu, and paralegal matt ip. speaking about the projects, raymond said: “we are delighted to end the year on a high, and are thankful to our clients and peers for their trust and support. with prediction for a better and stronger 2025, we are committed to proactively capturing the increasing opportunities in this rising market.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

harneys acted as the offshore counsel to global brain in connection with the establishment of global brain flagship fund ix. the primary focus is to acquire minority interests in early-stage technology japanese startups. this initiative marks global brain's inaugural global fundraising exercise.

the size of global brain flagship fund ix is approximately ¥32.5 billion, which equates to roughly us$210 million.

global brain is an independent venture capital firm headquartered in tokyo, japan, dedicated to revolutionising industries by providing comprehensive, hands-on support for startups and fostering open innovation with major corporations. it manages over us$2 billion in assets and has more than 400 active portfolio companies.

the harneys team was led by partner yucheng fan, with support from counsel jacquelyn wong and senior paralegal ada xie. allen & gledhill llp served as the legal adviser on matters related to singapore and international law, while mori hamada & matsumoto provided legal counsel on japanese law.

harneys’ investment funds team advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund, including formation, restructuring, and closure, both in distressed and planned scenarios. the firm’s funds lawyers sit side-by-side with the funds team from its strategic alliance partner, harneys fiduciary, allowing harneys to provide integrated legal and administrative support to its funds clients.

harneys advised sealsq corp (sealsq), a bvi incorporated company listed on the nasdaq stock exchange, on three registered direct offerings for a total deal value of us$60 million. the third and last round of funding closed on 19 december, where sealsq priced an offer of us$25 million in new shares, following two successful rounds, earlier this month, in which they offered us$10 million and us$25 million in new shares, respectively.

these offerings were conducted under a registration statement and base prospectus filed on 20 november, which covers the issuance of up to us$100 million in securities. harneys provided expert bvi legal counsel on the registration statement and supported all offerings. these offerings have garnered significant investor interest, reinforcing sealsq’s financial position and growth strategy.

harneys has worked with sealsq since its nasdaq listing last year, delivering trusted legal advice on capital markets transactions and corporate governance.

sealsq is an international security solutions provider specialising in semiconductor, pki, and post-quantum technology hardware and software. its post-quantum solutions include post-quantum microchips and devices that can be used in a variety of applications, from multi-factor authentication devices, home automation, and it network infrastructure, to automotive, industrial automation, and control systems. sealsq was formerly a wholly owned subsidiary of wisekey international holdings ag. the deal proceeded via an innovative transaction which involved all wisekey shareholders receiving shares via a special dividend.

the harneys team was led by partner george weston with support from counsel james kitching and senior associate priya mattu. [1]

george said:” we are pleased to have advised sealsq on this significant funding milestone, which underscores their continued growth and market presence. completing these three-time sensitive deals, which attracted strong investor interest, highlights our expertise in guiding innovative companies through complex equity capital markets transactions with responsive service. we look forward to supporting sealsq as they continue their journey.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high-value private equity transactions, landmark ipos, and the full spectrum of public and private m&a and joint ventures.

[1] the appointments of james kitching to counsel and priya mattu to senior associate are effective 1 january 2025, pending regulatory approval.

harneys bvi regulatory team has advised on a further virtual assets service provider (vasp) application, which has been approved by the financial services commission (the commission) under the virtual assets service providers act (the vaspa).

the successful applicant, rules holding (bvi) limited (rules), currently operates a virtual asset exchange and provides custodial services by way of a platform named “bumba.global”. rules is one of the first exchange and custody providers that has been approved under the new framework, and shall offer a diverse product portfolio to its clients across latin america, the middle east, asia, and europe as it expands its operations.

the harneys regulatory team secured approval from the commission in november. the harneys corporate team, led by partner george weston with support from senior associate james kitching, provided corporate support.

david miller, chief executive officer at rules commented: “we built our business based on first principles of how financial services companies including vasps should be governed, secured and regulated. this approval is a testament to the team’s ability to execute on that vison. the team at harneys have excelled in assisting us from the start. special thanks to myles chingara who led on the regulatory side and also george weston and james kitching who helped on the corporate side. we look forward to working with you going forward.”

do you need help with a vasp application?

we are happy to assist. we have a very deep, experienced and knowledgeable regulatory team who can guide you through the process. our approach is thorough yet simple and helpful and the process yields the outcomes we expect.

we are happy to provide you with our complimentary consultation kit, which includes:

• harneys practical guide to the vaspa
• harneys proposal and fee quote document
• harneys vasp assessment tool

if you need our assistance, please contact any of the contacts listed or your usual harneys contacts.

harneys is advising safco venture holdings (safco) on its us$140 million deal to boost sustainable aviation fuel (saf) production in pakistan.

the harneys team is led by partner joshua mangeot with support from senior associate priya mattu and associate tamika calme.^[1] harneys is working alongside white & case llp. the firm’s strategic alliance partner, harneys fiduciary, provides corporate and fiduciary services to safco.

the financing includes us$41.2 million from the asian development bank (adb)’s ordinary capital resources and us$45 million in syndicated loans including b-loans from the emerging africa & asia infrastructure fund—an emerging market infrastructure debt fund owned by pidg and managed by ninetyone, and ilx—an amsterdam-based emerging market asset manager focused on sdg and private debt climate strategies. adb serves as the lender of record for the b-loans and as the mandated lead arranger and bookrunner for the financing package. the international finance corporation is providing a syndicated parallel loan and equity financing of up to us$35 million, including up to us$10 million from the uk foreign commonwealth & development office’s climate-related blended finance programme.

the facility, the first-of-its-kind in south asia, will be managed by an operating subsidiary of safco. biotech energy, another subsidiary of safco venture holdings, currently manages pakistan’s first-large scale biodiesel refinery as well as one of its largest oil feedstock collection networks. the facility will produce saf and bionaphtha, a raw material to produce sustainable plastic products, converting thousands of tons of used cooking oil and other waste oils into aviation fuel to reduce global emissions. axens is technology provider and rothschild & co. are financial adviser to safco.

josh commented: “we are delighted to be supporting safco and white & case with this transaction. this project, which is the first of its kind in pakistan and south asia, marks a significant advance towards sustainable aviation and achieving reductions in greenhouse gas emissions and creating jobs and technological investment in pakistan. our corporate and banking & finance teams worked seamlessly alongside our strategic alliance partner harneys fiduciary and it is a fantastic deal with which to mark the end of 2024.”

the banking & finance practice group at harneys has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, project finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives. the team’s deep understanding about the business environment in which its clients operate help build strong networks with industry players and service providers in key markets around the world. the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

^[1] the appointment of priya mattu to senior associate is effective 1 january 2025, pending regulatory approval.

harneys has earned top-tier recognition in this year’s iflr1000 emea guide for its exceptional financial and corporate expertise in cyprus, and six of the firm's lawyers have received individual rankings.

partners pavlos aristodemou and nancy erotocritou are recognised as “market leaders”, with nancy achieving the additional honour of being ranked as a ‘’women leader’’. partner aki corsoni-husain and consultant demetris loizides have earned the ranking of “highly regarded,” while partner george apostolou is acknowledged as a “notable practitioner.” partner sonia hamshaw has also been newly recognised as a “rising star partner”.

cyprus managing partner pavlos aristodemou commented: “we are delighted to be ranked in tier 1 by iflr1000 for the fifth year; this continued ranking recognises our strong financial and corporate expertise and underscores our commitment to delivering top-notch client service. congratulations to our ranked individuals, whose hard work and dedication to our clients continues to raise the bar in cyprus and beyond.”

as a leading international multi-jurisdictional law firm with a physical presence in cyprus, harneys cyprus sets a precedent of unrivalled professionalism to its clients around the world.

harneys acted as british virgin islands and cayman islands legal counsel to s.f. holding co., ltd. on the global offering and listing of its shares on the main board of the hong kong stock exchange. the listing completed on 27 november 2024 and raised proceeds of approximately us$748 million, making it one of the largest hong kong ipo this year.

a fortune global 500 company, s.f. holding co., ltd. is a leading logistics service provider that offers a full spectrum of domestic and international logistics services. they offer a complete range of logistics services including express, freight, cold chain, intra-city on-demand, supply chain solutions and international logistics services, with an extensive global delivery network covering over 200 countries and regions, and supported by the largest air and ground delivery fleet in asia.

the harneys team comprised partner raymond ng, senior associate annie liu, and paralegal matt ip. speaking about the project, raymond said: “we are pleased to be involved in this landmark project of s.f. holding co., ltd, a long standing client of ours. a household name in asia, we look forward to continuing to assist them in strengthening their logistics capabilities and optimising their logistics network and service offerings in the years to come.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

harneys has been distinguished as a leading cross-border restructuring and insolvency legal advisor in the prestigious grr 30 list. the firm celebrated this achievement at an awards ceremony held in london on 21 november, attended by the firm's head of litigation, insolvency & restructuring in london, john o’driscoll, alongside partners jeremy child, francesca gibbons, and counsel paul goss.

the grr 30 showcases the top standout firms in the grr 100, global restructuring review's annual guide to the world's leading law firms for cross-border restructuring and insolvency matters.

nick hoffman, the firm’s global head of litigation, insolvency & restructuring, stated: “we are thrilled to be recognised in grr’s top 30 list, a testament to our global team's exceptional strength and reputation. our commitment to delivering unparalleled service to our clients is unwavering, as our lawyers continually strive to exceed expectations.”

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency, and asset recovery are core areas of specialisation, with teams spanning the bvi, the cayman islands, hong kong, london, shanghai, and singapore. the firm provides clear, timely and innovative solutions for clients in complex multi-jurisdictional disputes.

harneys received band 1 and band 2 rankings for their british virgin islands and cayman islands teams respectively in the recent release by iflr1000 for both financial and corporate and investment funds.

in an impressive showing, all the partners across both offices were ranked accordingly:

• philip graham is recognised as a market leader,
• tanya cassie-parker, michelle frett-mathavious, colin riegels, daniella skotnicki, james smith, matt taber, and george weston were listed as highly regarded,
• christopher hall, carolynn vivian, and joshua mangeot achieved notable practitioners status,
• senior counsel, lewis chong is down as an expert consultant; and
• senior associates, james kitching and natalie bundy made the rankings as rising stars.

bvi managing partner tanya cassie parker stated, “we are delighted that our team continues to be recognised for their hard work. having all our transactional partners – finance, corporate, mutual funds, regulatory and private wealth - recognised by iflr1000 for their excellence is a tremendous achievement and is testament to the talent and breadth of experience of our bvi team.” cayman managing partner carolynn vivian commented, “i am delighted with this ranking, which acknowledges the depth of our financial, corporate and investment funds capabilities and demonstrates our dedication to delivering superior client service.”

harneys is a global law firm with a presence in major financial centres around the world. with a focus on delivering innovative and practical solutions, the firm provides expert advice to clients across a wide range of industries. harneys' team of talented professionals is deeply rooted in the legal culture of the jurisdictions they operate in, enabling them to offer unparalleled insights and guidance.

harneys bermuda, british virgin islands, and cayman islands received exceptional client praise in the most recent release from legal 500 caribbean. described as “a tight team. they are quick to engage their fellow partners and associates to ensure that the right expertise is available for their clients. it is a pleasure to work with harneys.” the firm maintained top-tier rankings across all practice groups, including tier 1 for its bvi banking, finance and capital markets, dispute resolution, investment funds, regulatory and compliance teams, and its private wealth team in the cayman islands.

the firm’s bvi dispute resolution team was described as “effortlessly dominant in the market, with real strength in depth, and the ability to scale up on complex and heavy matters”, with partners being described as “exceptional, conscientious, responsive, and strategically excellent.” the transactional and private wealth teams were described as “sharp, commercial, and responsive” with a “degree of knowledge and understanding of the jurisdiction which is unparalleled and an “exceptional commitment to client service”.

the firm’s cayman team was compared to other firms with one testimonial stating, “i have dealt with other firms and lawyers in the caribbean… but nick hoffman and gráinne king stand out for their dedication to the client and out-of-the-box thinking.” another commented that “the expertise and experience of the lawyers at harneys are unparalleled. they have a deep understanding of the law and its practical applications, which allows them to provide insightful and effective advice.” the firm’s transactional and private wealth teams received praise from clients who stated they were “extremely satisfied with the services provided” and described the team as having “an unwavering commitment to client success” and “the ability to deliver high quality legal solutions”.

with the recent takeover of henry tucker in the firm’s bermuda office, it was also noted that “he is one of the top lawyers in bermuda” and that harneys bermuda was “a welcome addition to the market [which] offers a very good alternative to the existing players. their cross jurisdictional links with their other offices are seamless and impressive.”

bvi managing partner tanya cassie-parker stated, “we are delighted with this continued recognition from legal 500 and excited that our clients have showcased our hard work. i am proud of our team's dedicated efforts and commitment to providing exceptional service to our clients. cayman managing partner carolynn vivian commented, “the talent and hard work that our team puts into every instruction is the foundation of our success, and we look forward to continuing to uphold a high standard of excellence in all that we do.” bermuda managing partner henry tucker echoed their statements, stating, “it is exciting to see our teams being recognised for their hard work.”

harneys is a global law firm with a presence in major financial centres around the world. with a focus on delivering innovative and practical solutions, the firm provides expert advice to clients across a wide range of industries. harneys' team of talented professionals is deeply rooted in the legal culture of the jurisdictions they operate in, enabling them to offer unparalleled insights and guidance.

harneys has been named asset recovery firm of the year by lexology index (formerly who’s who legal) at its annual awards ceremony.

these awards follow in-depth research carried out by lexology index to identify the individuals and firms that have performed exceptionally well in each of the featured practice areas, spanning over 70 jurisdictions.

harneys’ global head of litigation and insolvency, nick hoffman, commented: “we are delighted to receive this award which stands as a testament to the relentless dedication and exceptional expertise of our team and highlights our commitment to excellence in the field of asset recovery.”

counsel paul goss, a member of the firm’s litigation & insolvency team, represented harneys at the ceremony which was held in london on 7 november.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency and asset recovery are core areas of specialisation, with teams spanning the bvi, the cayman islands, hong kong, london, shanghai, and singapore. the firm provides clear, timely and innovative solutions for clients in complex multi-jurisdictional disputes.

we advised china ping an insurance overseas (holdings) limited as cayman counsel in relation to the establishment of a private equity fund, which has successfully raised us$850 million in its recent closing.

the fund invests in concentrated gp-led secondary transactions on a secondary basis and also in co-investments with investment vehicles sponsored, managed or advised by other asset management groups. the co-investment opportunities span across a diverse array of sectors, allowing ping an to construct a robust and diversified portfolio and to enhance its resilience against market volatilities. it underscores ping an's commitment in expanding its global investment footprint.

our team was led by partner maggie kwok with support from counsel jacquelyn wong.

harneys london office continues to hold its top-tier status in chambers uk 2025 for offshore: bermudian, british virgin islands & cayman islands law.

the office received positive feedback from clients who noted, “dealing with harneys is always a pleasure. they are always prompt, responsive and friendly”, and there is “a suitable harneys team member always available to respond and advise on time-critical complex matters”.

in relation to cayman islands law, global managing partner william peake was named an eminent practitioner for his restructuring and insolvency focussed practice. “william is just incredible. he is really impressive,” one client remarked. another said, “william is an absolute genius. he is great to work with, very approachable and team-oriented. he is strategically astute and one of my go-to offshore lawyers.”

partner john o’driscoll was ranked for his insolvency disputes work. “john leads a strong team and, via his vast international network, can always bring an appropriate service provider into engagements if required”. “john is my go-to bvi lawyer for contentious mandates”.

on the bvi side, london managing partner rachel graham was ranked for her corporate and capital markets expertise. "rachel is very responsive and provides constructive, practical advice and solutions”. another client noted, “rachel provides user-friendly, commercially pragmatic advice”.

london managing partner, rachel graham, commented: “i'm delighted with our team's continued success in securing a band 1 ranking in the chambers uk guide. this recognition highlights the outstanding skills and dedication of our team members, who continue to set the benchmark for excellence to our valued clients. congratulations to the team in london on this achievement and thank you to chambers uk for the recognition”.

led by a senior team of experienced offshore lawyers and located in the heart of the city of london, harneys opened in london in 2002 and services a wide range of clients in the uk and throughout the emea region. the firm’s london lawyers provide appropriate, practical and commercial advice on contentious and non-contentious transactional, private wealth, insolvency and regulatory related matters.

harneys has once again received top tier status in the 2025 legal 500 uk rankings for offshore firms in london.

a source stated that the firm is “head and shoulders above the other offshore law firms”, describing the team as “legally and strategically astute”. another source said the team are “excellent to work with as they bring very commercial and unique insights to complex legal issues”.

partners william peake and john o’driscoll were ranked as leading partners, and counsel matthew howson was recognised as a leading associate.

london managing partner, rachel graham, commented: “i am proud of the team’s outstanding achievement in maintaining a tier 1 ranking in the legal 500 uk guide. this recognition underscores the exceptional skills and fantastic dedication of our team members who continue to deliver unparalleled legal services to our clients.”

led by a senior team of experienced offshore lawyers and located in the heart of the city of london, harneys opened in london in 2002 and services a wide range of clients in the uk and throughout the emea region. the firm’s london lawyers provide appropriate, practical and commercial advice on contentious and non-contentious transactional, private wealth, insolvency and regulatory related matters.

harneys have advised quilvest capital partners in relation to the bvi law aspects of its exit from metro franchising.

metro is one of the largest franchisees in the dunkin’ system and the largest dunkin’ franchisee in the new york city metro region with 105 units. dunkin’ is a leading global franchise in the quick service restaurant segment, offering coffee, donuts, baked goods, and other snacks.

the harneys team was led by partner philip graham with support from associates rhonda brown and kiril pehlivanov. they provided bvi legal advice to quilvest, while greenberg traurig, p.a. served as us counsel.

the investment funds practice at harneys advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund including, formation, restructuring and closure, in both distressed and planned scenarios. harneys’ funds lawyers work closely with the funds team from the firm’s strategic alliance partner, harneys fiduciary, which provides a full complement of corporate, wealth, and fiduciary services.

harneys has been named offshore firm of the year at the asian legal business awards in hong kong. the results were announced on 13 september 2024 at an awards ceremony in hong kong, attended by partners alan au, maggie kwok, raymond ng, and paul sephton. the firm also received an equity market deal of the year award for its involvement in j&t global express’ hk ipo.

alb’s awards celebrate and honour the outstanding legal practitioners and firms that have significantly contributed to the legal landscape in hong kong.

hong kong managing partner paul sephton said: “we are proud to be recognised by alb, the harneys hong kong partners wish to thank our teams for their constant hard work and dedication and, of course, our incredible clients whose support has enabled us to receive this recognition."

recently, the firm’s asia team won offshore law firm of the year, among other awards, at the alb china law awards and the china business law journal awards. also this year, the team was awarded several deal of the year awards from china business law journal, iflr asia-pacific, the asia legal awards, and alb southeast asia.

the harneys asia practice is known as one of the region's most dynamic offshore legal teams. the firm’s three full-service offices across shanghai, hong kong, and singapore represent one of the largest asia networks of any offshore law firm.

harneys acted as bvi legal counsel to acg metals ltd (formerly acg acquisition company limited) (acg) in its successful acquisition of the gediktepe mine in türkiye. the transaction completed on 3 september 2024 and acg’s shares were re-admitted for listing on the london stock exchange under the new name acg metals on 5 september 2024.

acg is a bvi company listed in london, and prior to completion of the transaction, was a special purpose acquisition company. acg has a vision to consolidate the critical metals industry, starting with the copper sector. through a series of roll-up acquisitions, acg intends to become a premier supplier of copper and other critical metals to the western oem supply chain, with best-in-class esg and carbon footprint characteristics.

the harneys team was led by partner george weston with support from james kitching, priya mattu, kiril pehlivanov, charlotte allery and j’koya fahie. our strategic alliance partner, harneys fiduciary, provides corporate services to acg. harneys acted on instructions from cleary gottlieb.

george said: “we have been working closely with acg for a number of years now, having assisted with their ipo in 2022, and are delighted to see them complete this acquisition. it is fantastic to see a thriving bvi incorporated company listed in london, and we look forward to working with them on their exciting future plans.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos, and the full spectrum of public and private m&a and joint ventures.

harneys has strengthened its london banking & finance group with the appointment of james kinsley, who joins the firm as a partner in the london office, effective 9 september 2024.

james brings a wealth of expertise advising on high-profile transactions for top tier clients including leading financial and private equity institutions. having previously worked at other leading law firms in europe, asia, and the middle east, james brings a truly global perspective to the firm's offering. his industry knowledge and international experience will strengthen the firm's banking & finance capabilities across jurisdictions and expand harneys’ global reach.

paul sephton, global head of banking & finance and corporate at harneys, commented: “we are delighted to welcome james to our team. his extensive experience and expertise will further enhance our ability to serve our clients across the emea region. the depth of his experience and drive to succeed will be invaluable to our offering ."

james’s appointment follows a period of growth for the firm’s london office, with other recent arrivals including partner john o’driscoll and counsel paul goss. in addition to these hires, associates gerrard tin and julia iarmukhametova recently relocated to the london office from luxembourg and the bvi, respectively.

harneys acted as cayman islands legal counsel to gigcapital7 corp. (gigcapital) on the initial public offering of its shares, raising approximately us$200 million. the shares commenced trading on the nasdaq global market under the ticker symbol "giggu" on 30 august 2024.

gigcapital is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganisation, or similar business combination with one or more businesses. gigcapital’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region.

the harneys team was led by partner george weston with support from partners philip graham and christopher hall, and senior associate james kitching. harneys acted on instructions from dla piper. the firm’s strategic alliance partner, harneys fiduciary, provides fiduciary services to gigcapital.

george commented: “this deal is a great example of the resurgence in interest in spac ipos we have seen in 2024 and we were delighted to work with dla piper and the sponsor team to see this over the line. the deal highlights the public m&a and equity capital markets expertise we have across our teams in the americas.”

“the entire harneys team demonstrated the foremost professionalism, commitment and dedication to support the ipo of gigcapital7, gigcapital global’s first registered spac in the caymans, and working closely together with the dla piper and gigcapital team enabled this successful project”, said dr. avi katz, founding managing partner and executive chairman of gigcapital global.

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys has bolstered its cayman islands litigation & insolvency and restructuring practice groups with the appointment of james eggleton, who re-joins the firm as a partner, effective 19 august 2024.

james brings a wealth of expertise in cross-border insolvency and contentious commercial matters. he specialises in financial services, investment funds, and shareholder disputes and his practice typically involves complex, high-value litigation. james returns to harneys after a two-year tenure at another leading law firm in the cayman islands. prior to his move to cayman in 2018, james worked in dentons’ financial markets dispute practice in london, where he predominantly acted for financial institutions and liquidators.

james is a fellow of insol international, reflecting his commitment to excellence in the field.

jessica williams, co-head of litigation, insolvency & restructuring in cayman noted: “we are excited to have james rejoin us. his recruitment underscores our global dedication to securing and retaining top-tier talent and speaks volumes to the quality of the team we are building.”

ben hobden, co-head of litigation, insolvency & restructuring in cayman also commented: “james’s extensive experience in cross-border insolvency and commercial litigation not only enhances our team but also reinforces our commitment to delivering exceptional service to our clients.”

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping shape the law. the firm provides clear, timely, and innovative solutions for its clients in complex multi-jurisdictional disputes.

harneys has won best offshore law firm at the china business law journal awards for the sixth consecutive year. the firm was also recognised in three other categories: restructuring & insolvency, structured finance & securitisation, and family wealth management.

the cblj awards recognise law firms that have excelled in the past year. winners are selected following extensive research and feedback from corporate executives, in-house counsel, and senior practitioners.

shanghai managing partner vicky lord said: “we are delighted to be recognised once again by china business law journal. our commitment to client service is reflected in these accolades, underscoring our dedication to professionalism, responsiveness, and innovation. thank you to those who nominated us."

recently, the firm’s asia team won offshore law firm of the year and two deal of the year awards at the alb china law awards. also this year, the team was awarded several deal of the year awards from china business law journal, iflr asia-pacific, and the asia legal awards, and alb southeast asia.

the harneys asia practice is known as one of the most dynamic offshore legal teams in the region. the firm’s three full-service offices across shanghai, hong kong and singapore represent one of the largest asia networks of any offshore law firm.

harneys acted as cayman islands legal counsel to orangekloud technology inc., on its us$13.1 million initial public offering on the nasdaq capital market. orangekloud's shares commenced trading under the ticker symbol “orkt” on 25 july 2024.

this deal is significant as it marks orangekloud technology inc.'s strategic entry into the us capital markets through a successful us$13.1 million initial public offering on the nasdaq capital market. the raised capital will support their expansion and investment initiatives, while the listing boosts their visibility and investor confidence.

orangekloud technology inc. is a holding company incorporated in the cayman islands with operations conducted by singapore and malaysia subsidiaries, which is headquartered in singapore. the group is positioned as a no-code software development platform, disrupts traditional enterprise application development, and provides digital transformation solutions to small and medium-sized enterprises in singapore.

the harneys team was led by partner lishi fong with support from associate jonathan lim. maxim group llc is the sole book-running manager for the offering. loeb & loeb llp and bird & bird atmd llp acted as us and singapore legal counsel to the company, respectively, and pryor cashman llp acted as us legal counsel to maxim for the offering.

lishi commented: “we are delighted and honoured to support our client orangekloud technology on the successful ipo listing of the company on nasdaq. this transaction demonstrates our team’s expertise in navigating the complexities of cross-border listings and our ability to deliver positive outcomes for our clients. we look forward to assisting more clients with their listing aspirations in the future.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore stock exchange.

harneys acted as cayman islands and british virgin islands legal counsel to helens international holdings company limited, a listed company in hong kong, on its successful secondary listing by way of introduction on the main board of the singapore exchange securities trading limited. helens' shares commenced trading on the singapore exchange on 19 july 2024.

this deal represented the first cayman islands company being listed on the main board of the singapore exchange this year and has a market capitalisation of hk$3,189 million (approximately us$409 million).

helens has been listed on the main board of the hong kong stock exchange since 10 september 2021.

helens is a market leader in china’s bar industry, boasting the largest bar chain network nationwide. its vision extends globally and focusses on the creation of social spaces outside of home and work. with over 15 years of experience, the helens’ brand has cultivated a huge fan base of tens of millions. its network of outlets spans over 200 cities within and outside of china, offering consumers with vibrant gathering spaces that blend exceptional experiences with a lively ambience.

the harneys team was led by partner alan au with support from senior associate annie liu and paralegal matt ip. cgs international securities singapore pte. ltd. acted as the issue manager and china international capital corporation hong kong securities limited acted as the financial adviser as to hkse listing rules. drew & napier llc acted as the singapore legal advisers, jingtian & gongcheng as the prc and hong kong legal advisers, verybest law offices as the japan legal advisers, mosaic paradigm law group as the us legal advisers to helens. dentons rodyk & davidson llp acted as the singapore legal adviser and commerce & finance law offices acted as the prc legal adviser to the issue manager.

alan commented: “we are delighted and honoured to support our client helens on the successful secondary listing of the company on the singapore exchange. this transaction demonstrates our team’s expertise in navigating the complexities of cross-border listings and our ability to deliver positive outcomes for our clients. we look forward to assisting more clients with their listing aspirations in the future.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, the luxembourg stock exchange, and the singapore stock exchange.

harneys has been recognised as a top tier firm in this year’s chambers high net worth rankings, achieving band 1 for offshore trusts in the british virgin islands and band 2 in the cayman islands. this is the ninth consecutive year the firm has received these recognitions.

the firm, which “has a straightforward and pragmatic approach to its advice,” remains a popular choice for clients, with sources saying the team is “very knowledgeable and capable of handling complex and multifaceted matters,” and they “provide excellent input and availability to discuss adequate solutions to problems.” a further source went on to say “the team is highly adept at handling complex matters. i have been impressed with their overall expertise. having members in different parts of the world also allows for prompt communication.”

partner henry mander, who heads the firm’s global trust and private wealth practice, was ranked as band 1 in the cayman islands. a source said he is “very experienced and is my go-to person for complex matters. he is definitely a standout industry expert”. he is further described as “strong all-round, with cross-border relationships to complement the full arena of planning capabilities” and “very well respected and knowledgeable on the structuring side. he is a real gentleman, very reliable and always reasonable.”

partner charles moore was also ranked in the cayman guide and is recognised as "an excellent attorney. i find him to be extremely knowledgeable and client-focussed." sources also said he is "extremely competent and knowledgeable. his responsiveness is amazing,” and he “always has his client's best interests front and centre and gets the result. he has a pragmatic approach and doesn't waste time.”

harneys’ private wealth team provides comprehensive advisory services to professional trustees, high net worth individuals and their families, financial institutions, and charities, covering the full spectrum of private client matters. the team works closely with their clients’ onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice. they ensure that the offshore elements of a structure are fully suitable and sufficiently flexible to adapt and evolve to clients’ changing needs.

chambers high net worth ranks the leading and most dedicated lawyers and law firms for international private wealth management work. these extensive and market-leading recommendations, rankings, and insights are based on an in-depth analysis of more than 55 countries around the world, including every major private wealth market.

this year marks a significant milestone for harneys singapore as it celebrates its 10-year anniversary. the office, which is a crucial extension of the harneys global network, is led by a seasoned team of offshore lawyers who provide expert advice to a diverse client base in singapore on the laws of bermuda, the british virgin islands, the cayman islands, and jersey.

to mark the occasion, the firm hosted an exclusive client party at the fullerton bay hotel in singapore on 11 july 2024. singapore managing partner lishi fong commented: “we are delighted to be celebrating this milestone with our colleagues and clients. the theme of this event, “bridging borders, building bridges”, reflects our dedication to serving as the trusted advisor to our clients over the past decade. we look forward to continuing our commitment to excellence in offshore legal services.”

the firm’s singapore office is renowned for its full range of award-winning contentious and non-contentious offshore legal services. these include corporate, banking, finance, investment funds, private wealth, trusts, litigation, insolvency, and regulatory services, offered in english, cantonese, and mandarin. this multilingual capability ensures that harneys meets the needs of its client base, providing seamless and comprehensible legal solutions.

as harneys singapore reflects on the past ten years, the firm remains committed to offering exceptional legal services and to strengthening its position as a leading offshore law firm in asia.

harneys was instructed by allende and brea to act as bvi legal counsel to leica geosystems ag, a subsidiary of hexagon, in their successful acquisition of voyansi, a leading provider of bim (building information modelling) and vdc (virtual design and construction) solutions. this acquisition marks a significant step in expanding hexagon's capabilities in the aeco (architecture, engineering, construction, and operations) sector.

founded in switzerland in 1997, leica geosystems is a leader in the field of geomatics. the company provides a comprehensive suite of products and services that cater to diverse applications, ranging from land surveying, construction, and civil engineering to mining, aerospace, and agriculture.

voyansi's expertise lies in digitising a wide range of assets, including data centres, hospitals, industrial sites, and shopping malls, spanning the design, construction, and operational phases of their lifecycles. their offerings enhance hexagon's strength in reality capture and aeco solutions, by integrating bim (building information modeling) support. this integration facilitates advanced 3d modelling and improves data accuracy.

the harneys team was led by partner george weston with support from associate priya mattu. commenting on the deal, george said, “we are pleased to have supported leica geosystems in this strategic move, which is emblematic of the burgeoning recovery in m&a activity, particularly in the tmt sector.”

the corporate team at harneys excels at complex cross-border transactions involving british virgin islands, cayman islands, cyprus, and luxembourg vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. harneys advises sellers, purchasers, investors and lenders on the full spectrum of m&a deals ranging from a straightforward share purchase to a takeover of a listed company by statutory merger.

harneys acted as cayman islands counsel to eshallgo inc (eshallgo) on its successful initial public offering on nasdaq with an offering size of us$5 million. the shares of eshallgo have been listed and commenced trading on the nasdaq capital market on 2 july 2024 under the symbol “ehgo”.

eshallgo is a one-stop service enterprise specialising in creating solutions for large offices. its core business is office integration procurement, including the sale and lease of office equipment and related maintenance services. the group has 20 years of experience and is committed to providing quality services to its clients.

the project was led by shanghai-based senior associate lily zhang with support from shanghai-based partner calamus huang.

commenting on the transaction, calamus said, " we are honoured to have been part of the team that helped eshallgo successfully list in the us. as the chinese government continues to support the overseas listing of chinese companies, we look forward to providing more chinese companies with professional and efficient offshore legal services to assist them in successfully realising their overseas listing plans and landing in the overseas capital markets as soon as possible."

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands legal counsel to toyo co., ltd, a cayman islands exempted company, in its business combination with blue world acquisition corporation, a nasdaq listed special purpose acquisition company by way of merger under cayman islands laws. the merger took effect on 1 july 2024. following the merger, shares of toyo co., ltd have commenced trading on nasdaq under the symbol "toyo" since 2 july 2024. its warrants also began trading on the otc market simultaneously.

prior to the merger, toyo co., ltd underwent a complex internal reorganisation involving multiple jurisdictions, including singapore, vietnam and the cayman islands. vietnam sunergy cell company limited, a wholly owned subsidiary of toyo co., ltd, was established in phu tho province, vietnam on 8 november 2022. it is a solar energy solutions company committed to becoming a reliable full service solar solutions provider in the united states and globally. toyo co., ltd’s ultimate major shareholder is abalance corporation (3856: tyo), a multinational conglomerate headquartered in tokyo and listed on the tokyo stock exchange.

harneys team was led by calamus huang and jessie xu, both corporate partners based in the firm’s shanghai office with assistance from shanghai associate jessica li.

calamus commented: "we are pleased to play a pivotal role in toyo co., ltd’s successful merger and listing. the transactions involved a series of complex restructurings and mergers, which is a testament to the leading expertise of our professional team. we wish toyo the best of luck as it continues to excel and contribute significantly to the global renewable and clean energy sector.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys is pleased to announce the completion of the sale of its fiduciary business, harneys fiduciary, to hillhouse investment (hillhouse), a leading global private equity firm. the sale will enable harneys to invest in the strategic direction of the law firm by pursuing growth in new jurisdictions, products, and services, with a focus on innovation and technology.

harneys fiduciary, working with its new partner hillhouse, will continue to deliver its high standard of service while providing innovative new offerings and agile solutions. the acquisition bolsters harneys fiduciary’s strategic growth plans across its global network with the support of hillhouse’s expertise and resources. the business will continue to be led by ceo ross munro and chief commercial officer pia buchi.

william peake, global managing partner at harneys, commented: “this transaction marks an exciting new chapter for harneys law firm, 64 years after it was formed. in that time we have always remained at the forefront of innovation and we will continue to do so. a unique feature of the sale is the creation of the harneys accelerator fund, which is funded by a proportion of the sale proceeds and will be the foundation of our dynamic ambitions. we look forward to working alongside harneys fiduciary to build on our combined expertise and shared vision for the future.”

ross munro, ceo of harneys fiduciary, added: "partnering with hillhouse presents an incredible opportunity for us to take our business to the next level. as harneys fiduciary approaches its 50th anniversary, it is important to leverage our heritage as we move forward. we have built an enduring legacy with harneys law firm, and we are united in our shared commitment toward putting our clients at the forefront of everything we do as we embark on this new chapter."

hillhouse is focused on building and investing in high-quality companies across business services, healthcare, energy transition, industrials, and consumer sectors to achieve long-term sustainable growth. sean carney, head of global investment at hillhouse, stated: "our investment in harneys fiduciary underscores our confidence in their leadership team and their commitment to providing top-tier services to their global clientele. we look forward to supporting the company’s continued growth and innovation." hillhouse’s closing of the harney’s transaction was completed following approval from cfius, within the initial 45-day review period, alongside other applicable regulators.

harneys has been named law firm of the year – fund domicile by hedgeweek. the results were announced on 27 june 2024 at the hedgeweek global digital assets awards, attended by the firm’s global head of investment funds, digital assets, and blockchain, philip graham, and senior associate natalie bundy.

phil commented, “receiving this award is a testament to the exemplary capabilities of our global team and the unwavering dedication we have had to the digital assets space since 2015. we are delighted to be recognised in such a dynamic and forward-thinking sector and would like to thank hedgeweek and our clients and industry peers for awarding this to us."

for over ten years, hedgeweek has been identifying and celebrating exceptional performance in fund management and service provision. leveraging their vast experience and deep knowledge of the field, they have extended their recognition to cryptocurrency hedge funds through their digital assets awards programmes. winners are chosen through a combination of allocator board decisions, peer surveys, editorial insights, and comprehensive data analysis.

in the rapidly evolving world of blockchain technology, web3, crypto, and digital assets, harneys stands at the forefront, offering expert guidance on contentious and non-contentious matters. the firm’s digital assets and blockchain experts span various practices, including banking and finance, corporate, investment funds, and litigation. the team provides strategic advice on decentralised finance, blockchain, decentralised autonomous organisation, and other web3 projects, including nfts and digital token issuances. they excel in assisting investment managers to set up funds targeting digital assets and fintech companies, including the foundational blockchain infrastructure. in the regulatory domain, they offer meticulous reviews of regulatory business plans and guidance on structuring digital asset products, including advice on investment businesses, financing, and money services, all while addressing aml/cft/pf concerns. on the contentious side, the firm’s litigation lawyers expertly handle disputes related to cryptocurrencies, nfts, and digital assets. they specialise in crypto asset tracing, recovery, and obtaining freezing injunctions, and disclosure orders.

harneys acted as bvi counsel to adium ltd. in relation to the us$120 million term loan financing of its subsidiary adium pharma s.a. by a consortium of lenders, comprising metropolitan life insurance company, metropolitan tower life insurance company, siemens servicios comerciales, banco de occidente (panama) and banco itaú uruguay s.a., which also acted as sole lead arranger and bookrunner.

the harneys team was led by partner josh mangeot, with support from associate priya mattu. mitrani, caballero & ruiz moreno acted as international counsel. josh commented: “we were delighted to assist our long-standing client adium pharma and the mitrani team with this significant syndicated facility arranged by banco itaú and congratulate them on another successful closing.”

the transaction became effective on 18 june 2024, with the first loan disbursement completed on 24 june 2024. the loan proceeds will be used for repaying existing debt, capital expenditures, and working capital.

the adium group stands as a prominent pharmaceutical enterprise in latin america, boasting nearly 50 years of expertise and a presence in 18 countries across the region. the company specialises in the manufacturing, packaging, distribution, and commercialisation of pharmaceutical products, providing innovative and quality treatments to physicians and patients. its commercial portfolio includes its own brand generics and innovative pharmaceutical products under license in the fields of oncology, rheumatology, pain management, urology, women’s health, neurology, cardiology, and gastroenterology.

the team of corporate and finance lawyers at harneys have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate. the team excels at complex cross-border transactions involving bermuda, british virgin islands, cayman islands, cyprus and luxembourg vehicles.

harneys has been named offshore law firm (multi-jurisdiction) by eprivateclient. the results were announced on 13 june 2024 at the eprivateclient excellence awards, attended by counsel matthew howson.

henry mander, global head of trusts and private wealth, commented: “we are delighted to receive this prestigious recognition from eprivateclient. it underscores our unwavering commitment to excellence and dedication to delivering tailored, practical solutions across diverse sectors and jurisdictions. our highly skilled and dedicated global private wealth team prioritises each client's unique needs, ensuring our advice and services are both innovative and effective.”

the eprivateclient excellence awards recognise the outstanding achievements of firms across the uk and offshore legal, tax, fiduciary, and advisory professions over the past year.

the harneys private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and sufficiently flexible to adapt and evolve as those needs change.

harneys acted as bvi counsel to ryan jarvis and john johnston as joint liquidators of phoenix bvi, in icm spc on behalf of ancile special opportunity and recovery fund segregated portfolio (asor) v ryan jarvis et al in connection with an application brought by asor to have it removed from the settled list of members on the basis that it had never “agreed in writing” to become a shareholder.

in its judgment, handed down at the end of last week, the court clarifies section 49 of the business companies act, finding that the requirement to “agree in writing” does not necessitate a written contract; it is sufficient that the shareholder has indicated in writing their consent to become a shareholder. the court was prepared to consider contemporaneous emails and other documents in determining whether this had been done. consequently, the court determined that asor remained a shareholder of phoenix bvi until the winding up commenced. this judgment empowers the client to proceed against the shareholder to recover the valuable unpaid consideration for shares.

london-based partner jeremy child led the harneys team with support from bvi-based senior associate jhneil stewart. david chivers kc of erskine chambers also acted for the joint liquidators. jeremy commented: “we are delighted to have won this case for our clients, further adding to the success of our litigation & insolvency department. the judgment reaffirms our unparalleled expertise and global reach, allowing us to lead the offshore market in handling the most significant and complex cross-border cases. we remain dedicated to achieving the best possible results for our clients, no matter the complexity or jurisdictional challenges involved.”

harneys’ experienced team of offshore litigation and insolvency specialists spans the globe with offices in the bvi, cayman, bermuda, hong kong, london, shanghai, and singapore. the firm provides clear, timely, and innovative solutions for its clients in complex multi-jurisdictional disputes. the firm has acted, and continues to act, for some of the world’s largest corporations, including the big four accounting firms and the world’s leading law firms.

harneys advised h.i.g. capital, a global alternative investment firm with us$60 billion of capital under management, in its acquisition of segers aero corporation and segers aviation s.a. (segers).

segers provides essential maintenance, repair, and overhaul (mro) services on mission-critical military platforms. the company offers a comprehensive suite of engine, accessory, and propeller services for global operators of the c-130 and similar aircraft.

working on instructions from paul hastings llp, the harneys team was led by partner george weston and associate, priya mattu. george commented: “it was fantastic to be involved in the bvi aspects of this complex cross-border m&a transaction and to work closely again with the elite team at paul hastings. we are seeing a revival of pe activity in the m&a market, and this deal is a great example of that.”

more information on the transaction can be found here.

the global private equity team at harneys provides legal advice to private equity firms, investors, leading global law firms, and sponsors on a wide range of transactions and structures using offshore vehicles. the firm has extensive experience of downstream investments, acquisitions and dispositions, and joint ventures, and of the full range of exit scenarios from public listings to planned sales and using companies incorporated in the bvi, cayman, cyprus, luxembourg, and anguilla. the firm’s expert team of corporate and fund specialists, located in the bvi, the cayman islands, cyprus, hong kong, london, luxembourg, singapore, and shanghai, serves the world’s largest private equity financial centres, working seamlessly across borders and time zones.

harneys acted as bvi counsel to china cinda (2020) i management limited (cinda management) in relation to its issue of the us$800,000,000 5.75 per cent guaranteed notes due 2029 under cinda management’s us$5 billion guaranteed medium-term note programme (the programme).

cinda management, a business company incorporated in the british virgin islands, is a special purpose vehicle directly and wholly-owned by china cinda (hong kong) holdings limited (cinda hk). application has been made to the stock exchange of hong kong limited (hkex) for the listing of the programme of cinda management for 12 months after 17 may 2024 for debts issue to professional investors (as defined in chapter 37 of the rules governing the listing of securities on hkex) only. under the programme, the notes are issued by cinda management and unconditionally and irrevocably guaranteed by cinda hk.

cinda hk is a wholly owned subsidiary of china cinda asset management company limited (china cinda). as a bridge between international and domestic capital markets, cinda hk leverages its expertise in investment, financing, financial services, and the disposal of non-performing assets and acts as china cinda's major offshore financing and operating arm. the size of the programme has been increased from us$4 billion to us$5 billion to provide flexibility for cinda hk's financing needs. the proceeds will be used for working capital, investment, refinancing of existing debt and/or other general corporate purposes.

the harneys team was led by partner jessie xu. agricultural bank of china international, bank of china (hong kong), bank of communications, boc international, bocom international, bank of america securities, citic bank international, ccb (asia), china galaxy international, cicc, citic international, cinda international, and standard chartered bank acted as the joint arrangers and dealers. agricultural bank of china limited hong kong branch, anz, ccb international, china everbright bank hong kong branch, china minsheng banking corp., ltd., hong kong branch, china zheshang bank co., ltd. hong kong branch, citic securities, cmbc capital, cncb capital, crédit agricole cib, deutsche bank, essence international, goldman sachs (asia) l.l.c., guotai junan international, haitong international, hsbc, nanyang commercial bank, shanghai pudong development bank hong kong branch, smbc nikko, and zhongtai international acted as the dealers.
jessie commented: “it was a great honour to work with the cinda team. we hope that the programme will help cinda successfully raise capital so they can reap the rewards of a more robust and long-term corporate development. this successful notes issuance strengthens the good relationship between cinda and harneys. we look forward to more opportunities to work with cinda in the future.”

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands legal counsel to eda group holdings limited on the spin-off and initial public offering of its shares, raising approximately hk$223 million (approximately us$28.5 million). the shares commenced trading on the main board of the hong kong stock exchange on 28 may 2024.

eda group holdings limited provides one-stop end-to-end supply chain solutions for e-commerce vendors, empowering the fast-growing e-commerce activities that exchange products, services and information between businesses and individual consumers (b2c export e-commerce) in china. it offers supply chain solutions which encompass cross-border logistics, overseas warehousing and fulfilment delivery services that are integrated into “eda cloud”, its self-developed cloud platform which houses a comprehensive range of digital supply management tools. its logistics network covers various major trade lanes originating from china reaching popular b2c e-commerce destinations around the world, including north america, europe and australia.

the listing constitutes a spin-off of the shares of eda group holdings limited from china lesso group holdings limited, the shares of which are also listed on the main board of the hong kong stock exchange.

raymond ng led the harneys team on this project. raymond commented: “we are pleased to be part of the successful team involved in the listing of the shares of eda group holdings limited. there has been a rapid growth in the b2c export e-commerce market in china over the past decade, due to the continued growth/recovery of the global economy and the increase in global consumer purchase power. we understand eda group holdings limited will utilise the funds raised to further enhance its global logistics network and revamp its cloud platform, and we wish them every success in achieving that goal.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

harneys has won offshore law firm of the year at the asian legal business china law awards. it is the second consecutive year that the firm has won this prestigious award. in addition, harneys won two deal of the year awards. the results were announced on 23 may at a ceremony held at the rosewood hotel in beijing, china.

the deals

• equity market deal of the year-midsize (led by calamus huang) awarded for the firm’s involvement in j&t global express limited's initial public offering and listing on the main board of the hong kong stock exchange. harneys acted as cayman islands legal counsel to j&t global express limited on its successful initial public offering with an offering size of hk$3,918.6 million (approximately us$500 million).
• m&a deal of the year - premium (led by jessie xu) for the firm’s instruction on astrazeneca's acquisition of gracell biotechnologies inc. harneys acted as cayman islands counsel to gracell biotechnologies inc., a nasdaq-listed cayman company, in its merger and acquisition with astrazeneca for an aggregate consideration of up to approximately us$1.2 billion.

also shortlisted were china aoyuan’s us$6.2 billion overseas debt restructuring (led by chai ridgers), greenland global investment limited’s update of the us$8 billion mtn programme (led by paul sephton) and cheche technology inc. and cheche group inc.’s de-spac mergers and nasdaq listing (led by raymond ng).

shanghai managing partner vicky lord commented: "we are grateful to the alb china law awards and our many legal colleagues for recognising harneys, and we are also grateful to our clients for their longstanding trust and support. these honours and recognitions will serve as a motivation for us to go above and beyond to provide our clients with outstanding legal services in a timely, efficient, and innovative manner."

the alb china law awards pay tribute to the outstanding performance of private practitioners and in-house teams in china.

recently, the firm also won several deal of the year awards from china business law journal, iflr asia-pacific, and the asia legal awards, and alb southeast asia.

the harneys asia practice is known as one of the most dynamic offshore legal teams in the region. the firm’s three full-service offices across shanghai, hong kong and singapore represent one of the largest asia networks of any offshore law firm.

harneys acted as cayman islands legal counsel to coral capital in relation to the successful launch of its fourth flagship fund coral capital iv, a cayman islands exempted limited partnership. the market value of the new fund is jp¥25 billion.

at the core of japan's venture capital landscape, coral capital is committed to cultivating the country's future titans across diverse industries, including software as a service (saas) and advanced technologies like fusion. the primary goal of coral capital iv is to strategically channel venture capital into a carefully curated portfolio of private companies, with a sharp focus on science and technology firms that operate within or closely with japan.

yucheng fan, a partner specialising in investment funds and regulatory matters, led the harneys' team with support from senior associate cherrie wong and legal manager betty chen. withers advised on the deal's japanese, us, and international legal aspects.

yucheng commented: "it has been gratifying to support coral capital alongside withers in this significant global venture, which draws investors from across asia, the eu, and the us. we are proud to contribute to an initiative that promises to boost the japanese venture capital ecosystem. we extend our best wishes to coral capital as it plans to invest in innovative companies in the science and technology sector.”

harneys advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund, including formation, restructuring, and closure, both in distressed and planned scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys has won two deal of the year awards from asian legal business. the results were announced on 16 may at the alb southeast asia awards ceremony which took place in singapore.

the deals

• equity deal of the year awarded for the firm’s involvement in j&t global express’s hong kong ipo. harneys acted as cayman islands legal counsel to j&t global express limited on its successful initial public offering with an offering size of hk$3,918.6 million (approximately us$500 million).
• m&a deal of the year for the firm’s instruction on vtac's business combination with 17live. harneys acted as cayman islands legal counsel to live streaming platform 17live holding on its proposed combination with singapore listed special purpose acquisition company vertex technology acquisition corporation ltd.

singapore managing partner lishi fong commented: “we are proud to receive these accolades that underscore our asia team’s exceptional skills, dedication to outstanding client service, and relentless drive for excellence. our thanks goes to alb and our valued clients.”

the awards honour outstanding achievements in the legal field, celebrating the exceptional performance of both private practitioners and in-house counsel across southeast asia and beyond.

recently, the firm also won several deal of the year awards from china business law journal, iflr asia-pacific, and the asia legal awards.

the harneys asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region. with 65 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore, and shanghai represent one of the largest asia networks of any offshore law firm.

harneys luxembourg, together with south african based acaciacap advisors, assisted suppple group plc, a uk based technology company, with its successful provisional listing on the luxembourg stock exchange, with a market capitalisation of £200 million. its class a shares were provisionally listed and commenced trading on the euro mtf market of the luxse on 14 may 2024.

suppple is an infrastructure-as-a-service (iaas) api technology platform designed to assist governments of all sizes, across the globe, to rapidly organise, digitise and automate their functions. suppple was founded to address the profound need for a technology integration and orchestration layer to resolve inter-governmental system and data fragmentation challenges. the name of the company is derived from a synonym for resilience and represents the creation of “social impact using public-private-partnerships”.

the founders of suppple, eldrid jordaan and goitse konopi, previously led govchat, the official communication platform of the south african government. the govchat technology platform enabled real-time feedback and reporting through a whatsapp chatbot.

after their success with the development of govchat, the founders embarked on a new challenge in the form of suppple. suppple’s suite of apis powers governments’ digitisation, process automation, data modelling and integrations at all levels. the software that suppple builds is the unseen, underlying infrastructure that supports public sector functions. supppleapi is an api platform that enables developers, governments, and commercial clients to create features that link to their existing technology and data sources.

the company is focussed on three mandates: an iaas/software platform for governments (apis and integrations); a public sector data bureau, which brings together public-private data systems enabling verification, authentication, and fraud detection; as well as enabling start-ups to connect with policymakers and private sector partners.

listing on the luxse aims to bolster suppple’s financial stability and enhance its attractiveness to investors, which is expected to support the company’s plans for expansion into new markets and sectors. the current listing on the euro mtf market of the luxse is provisional in nature, becoming definitive once it meets the 25 per cent free-float requirement of the luxse. given the substantial interest that suppple has already received from potential investors, the company is confident to meet the luxse’s free float requirement within the next three to six months.

following suppple’s successful provisional listing on the luxse, the next step is to perform a private placement focussed primarily on the south african investor market. the private placement will be followed by an inward listing of suppple’s class a shares onto the a2x in south africa. in relation to all stated south african aspects, suppple is advised and assisted by acaciacap advisors. on the basis that the prospectus that was prepared for purposes of the luxse provisional listing will essentially also serve as the offer document to be used for private placement to be undertaken in south africa, acaciacap advisors worked hand-in-hand with harneys luxembourg and suppple in preparing the luxse listing prospectus.

the harneys team was led by partner charl brand and associate cara furniss-scott. charl commented: “harneys is privileged to have been made a part of suppple’s venture. we look forward to a close working relationship with suppple going forward, in our capacity as luxse listing agent, to ensure that the company remains fully compliant with its ongoing obligations in terms of the luxse rules and regulations. we wish the company the very best of success, as it sets out to roll out its business plan. i would also like to sincerely thank the luxse for its continued excellent service to harneys and its luxse listed clients.”

harneys luxembourg has over 20 years of experience in listing companies from various jurisdictions on the euro mtf market of the luxembourg stock exchange. the euro mtf market was first introduced in 2004 as a multilateral trading facility, which benefits from less stringent requirements than the bourse de luxembourg market, as it is outside the scope of most eu regulations and is regulated largely by the luxembourg stock exchange’s own rules and regulations. it is especially attractive for companies wishing to inward list on a second exchange in south africa, offering investors both eu and non-eu market exposure.

harneys has appointed partners jessica williams and ben hobden as co-heads of the cayman islands litigation, insolvency and restructuring practice group. their appointments are effective as of 1 may 2024.

jessica has been a partner in harneys’ cayman islands office since 2017, having joined the firm in 2013, and is one of the team’s most experienced litigators. her practice focusses on insolvency and restructuring and trust and estate litigation, along with shareholder disputes, and asset tracing and enforcement. her clients include financial institutions, insolvency practitioners, trustees, court appointed administrators, and other officeholders.

jessica is heavily relied on for her experience in the jurisdiction and plays a central role in many of harneys’ most significant cases. she sits in a rare position in the cayman market with a practice that focusses on insolvency and restructuring and contentious trusts. she is recognised in the private client global elite directory.

ben joined harneys as partner in september 2023. with over a decade of experience practising in the cayman islands, he advises financial institutions, directors, and corporates across a wide range of commercial litigation matters. he is an expert in restructuring by way of scheme of arrangement, activist shareholder litigation, insurance disputes, all forms of interim relief and general corporate disputes.

ben regularly acts for insolvency practitioners, debtors and creditors in insolvency and restructuring situations, and has advised on many of the largest restructurings in the cayman islands. he is also a member of the recovery and insolvency specialists association’s legal and regulatory committee.

both jessica and ben are recognised by chambers and partners, legal 500 and who’s who legal.

nick hoffman, global head of the litigation, insolvency and restructuring group, said: "i am delighted that jessica and ben have been appointed co-heads of litigation in the cayman islands. they are outstanding litigators and are well-positioned to lead our exceptional team. i look forward to working with them in their new roles."

william peake, harneys’ global managing partner, added: "jessica and ben are both ideally placed to guide the firm’s litigation strategy in the cayman islands. with an increasing global demand for advice in relation to insolvencies and restructurings in the region, their guidance and experience will be instrumental in meeting the needs of our clients."

jessica and ben’s appointments follow a period of growth for harneys’ litigation, insolvency & restructuring practice group, with recent hires including partners john o'driscoll (london) and henry tucker (bermuda) and counsel paul goss (london).

harneys acted as cayman islands legal counsel to mobile-health network solutions, a leading telehealth solutions provider in singapore, on its successful us listing. mobile-health’s shares commenced trading under the ticker “mndr” on the nasdaq capital market on 10 april 2024.

ranked 41 out of 500 by the financial times in the “high-growth companies asia-pacific 2024” category, mobile-health provides personalised medical services to users and healthcare providers globally via its manadr platform. the platform gives users access to virtual clinics and a global network of peer-to-peer support groups and partners. the ipo proceeds will primarily be used for product development and business expansion.

partner lishi fong led the harneys team with support from associate jonathan lim. lishi said: "the telehealth sector holds immense promise for revolutionising global healthcare services and we are delighted to have represented mobile-heath on their nasdaq listing. we wish the company success in their global expansion plans. this deal underscores our expertise advising on ipos in the healthcare sector."

the corporate team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity-linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the bermuda stock exchange, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys is pleased to announce that kayla prendergast has been admitted as an attorney of the grand court of the cayman islands following the successful completion of her articles of clerkship. she also joins the firm’s cayman litigation & insolvency practice as an associate.

kayla was born and raised in the cayman islands and has always been interested in the financial services industry. while pursuing her law degree at the university of sheffield, she returned to cayman during her breaks to complete several legal internships, which solidified her aspiration of becoming a cayman lawyer. in 2021, she was awarded the harneys legal scholarship and subsequently joined the firm as an articled clerk in 2022. outside of harneys, kayla is a member of the international women’s insolvency and restructuring confederation, a member of the cayman islands legal practitioners association, and a board member of the rotaract club of grand cayman.

kayla commented: “my time participating in the harneys articled clerk training programme was fantastic. the learning and exposure throughout my rotations across different departments were invaluable, and i am deeply thankful to have been mentored by leading offshore lawyers. joining the litigation & insolvency team marks an exciting new chapter for me, and i eagerly anticipate the further advancement and enrichment of my career both within this practice and at harneys.”

harneys offers a structured training programme through which its articled clerks work with leading offshore practitioners in the cayman islands and throughout the firm’s global network. during the programme, the articled clerks undertake seats in the litigation & insolvency, banking & corporate, investment funds, and private wealth practice groups. the programme focusses on technical aspects of the law and soft skills, such as presentation, networking skills, and commercial issues relevant to practising in cayman and the broader offshore context.

charles moore, partner and director of the articled clerk training programme at harneys, commented: “we are very proud of and passionate about our training and development programmes, which offer caymanians a chance to acquire a wide range of skills within our specialist practice areas. i want to congratulate kayla on her hard work and dedication. watching kayla grow throughout her lpc and article clerk seats has been a pleasure, and i look forward to seeing her continue to flourish throughout her legal career.”

harneys is committed to providing opportunities to talented students looking for a successful start to their legal careers. harneys awards legal scholarships to bright and ambitious caymanian students pursuing law degrees, post-graduate conversion courses, and post-graduate qualifying courses such as the professional practice course, the legal practice course, and the bar professional training course. for more information on the firm’s student and graduate programmes please visit the careers page or contact cayhr@harneys.com.

harneys acted as british virgin islands legal counsel to heather venture holdings ltd. and tapir holdings ltd., each a bvi business company, on their listing on the bermuda stock exchange.

the successful admission of heather venture holdings ltd. and tapir holdings ltd. involved the listing of their respective shares on the mezzanine market of the bsx with effect from 11 march 2024.

both companies received approval from the bsx for the listing of 44,502,264 ordinary shares respectively.

the listings have been made as part of a wider transaction, which involved the declaration of a dividend in specie by impellam group plc, with such dividend in specie being the shares.

the wider transaction involves the acquisition by heather global plc of the entire issued, and to be issued, ordinary share capital of impellam group plc. the acquisition is being effected by means of a scheme of arrangement under english law.

the harneys team comprised partner rachel graham and counsel thomas dugdale. rachel commented: “fantastic to be involved in the bvi aspects of this complex cross-border m&a transaction and to work closely from our london office with the impellam team.”

the corporate team at harneys has a leading equity capital markets practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the bermuda stock exchange, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys cyprus has maintained its tier 1 rankings from legal 500 for its banking & finance and commercial, corporate and m&a practices, and tier 2 for its tax practice for the seventh consecutive year.

the firm’s cyprus lawyers also received individual recognition for their respective practices. cyprus managing partner pavlos aristodemou remains in the hall of fame for banking & finance. partner nancy erotocritou and consultant demetris loizides are leading individuals, and partner sonia hamshaw is a next generation partner.

according to clients, harneys cyprus is an “excellent team to work with” and has “a strong eagerness to help.” sources find the team to be “very reliable” and noted that they “guaranteed legal provision of services”. another source praised the team for being “knowledgeable, easy to work with, responsive and commercial,” adding that it is “exactly what [they] need from local counsel.”

pavlos commented: “we are delighted with this continued recognition from legal 500, it is a testament to our team's unwavering dedication and exceptional commitment to serving our clients. our team members' skill, diligence, and collective effort are truly the cornerstones of our achievements. we remain committed to maintaining and surpassing the standards of excellence we have set in every aspect of our work.”

harneys is frequently involved in complex international transactions and is often instructed as local counsel for large corporations dealing with high-level acquisitions. as a leading international multi-jurisdictional law firm with a physical presence in cyprus, the firm provides unrivalled service to clients worldwide, particularly for complex and cross-border disputes.

harneys bvi regulatory team advises on vasp approved in the first tranche of financial services commission (the commission) registrations under the virtual assets service providers act (the vaspa).

background

the british virgin islands (the bvi) enacted the vaspa on 1 february 2023. the vaspa creates the legal framework for the registration and supervision of all virtual assets service providers (vasps) operating in and from within the bvi. after 1 february 2023, any vasp not yet conducting activity in and from within the bvi is prohibited from doing so without first obtaining a licence from the commission. however, the vaspa also incorporated special consideration for persons who were already conducting virtual assets service in and from within the bvi before 1 february 2023. these existing bvi vasps were grandfathered in under the vaspa and were granted a six-month transition period, which ended on 31 july 2023.

in order for existing vasps to continue providing a virtual asset service, a completed application had to be submitted to the commission for registration as a vasp by 31st july 2023. it is our understanding that since the end of the transition period on 31 july 2023, the commission has received in excess of eighty applications and, on 28 march 2024, approved its first two vasps with more to follow. harneys regulatory team acted as trusted advisor on one of these successful applications.

vasp approved

the successful applicant, portofino technologies global, is one of the leading cryptocurrency market makers. portofino also operates an "over the counter" trading business for institutional clients. through its otc business, portofino provides its clients with the most competitive prices and deep liquidity across hundreds of tokens. portofino has been approved to provide virtual asset services, including carrying out the activities of the exchange between virtual assets and fiat currencies, and exchange between one or more forms of virtual assets. portofino fits nicely within the category of vasps the bvi is seeking to encourage with the new framework, as portofino’s team has extensive experience in regulated financial services firms and in working within robust compliance and risk management frameworks.

the harneys team, was supported by associate charlotte allery who led the application which secured approval by the commission this month.

charlotte commented: “it has been great to be involved with applications under the bvi’s new vaspa and to support our clients with obtaining approval under the new regime. we take this opportunity to congratulate portofino’s hardworking team, and we wish them the very best with their operations as a bvi vasp”.

do you need help with a vasp application?

we are happy to assist. we have a very deep, experienced and knowledgeable regulatory team who can guide you through the process. our approach is thorough yet simple and helpful and the process yields the outcomes we expect.

we are happy to provide you with our complimentary consultation kit, which includes:

• harneys practical guide to the vaspa
• harneys proposal and fee quote document
• harneys vasp assessment tool

if you need our assistance, please contact any of the contacts listed or your usual harneys contacts.

harneys acted as cayman islands legal counsel to migao group holdings limited, a potash fertiliser company, on its successful initial public offering with an offering size of hk$918 million (approximately us$118 million). its shares were listed and commenced trading on the main board of the hong kong stock exchange on 21 march 2024.

migao group holdings is one of the largest potash fertiliser companies, in terms of sales volume of potash fertilisers in china, with comprehensive sourcing, manufacturing, processing, and selling capabilities offering various potash fertiliser products, including kcl, sop, nop, and compound fertilisers. potash fertiliser is essential for crop production and is, therefore, an integral part of the agriculture sector in china, which is one of the largest and most important industries in china.

the harneys team was led by partner raymond ng and counsel denise chan. raymond commented: “we are pleased to have advised our long-standing client migao on its successful listing, one of the largest hong kong ipos this quarter. we wish migao all the best in its plans to use the proceeds to enhance its production facilities and expand its research and development capabilities.”

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys has won three deal of the year awards from iflr asia-pacific. the results were announced on 20 march at an awards ceremony in hong kong, attended by partners maggie kwok, raymond ng, and paul sephton. the firm was also awarded deal of the year at the asia legal awards, hosted by law.com international, which took place in singapore on 14 march 2024.

the deals

• equity deal of the year awarded by iflr for the firm’s involvement in j&t global express’s hong kong ipo. harneys acted as cayman islands legal counsel to j&t global express limited on its successful initial public offering with an offering size of hk$3,918.6 million (approximately us$500 million).
• restructuring deal of the year awarded by iflr for the firm’s work on the sunac debt restructuring. harneys acted as offshore counsel for the ad hoc group of bondholders and lenders of sunac china, a hong-kong listed property developer in the prc, in relation to sunac china’s financial restructuring of its offshore liabilities amounting to approximately us$10.2 billion
• private equity deal of the year awarded by both bodies for the firm’s instruction on the chindata group take-private. harneys acted as cayman islands counsel to apg asset management n.v. in relation to the going-private transaction of chindata group holdings ltd.

the iflr awards celebrate the most legally innovative cross-border deals closed in the previous year and the law firms, legal teams, and lawyers behind them.

the asia legal awards honour the best work in the region, identify the most important transactions and cases with the most complex and outstanding legal work in asia.

recently, the firm also won several deal of the year awards from china business law journal.

the harneys asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region. with 65 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore, and shanghai represent one of the largest asia networks of any offshore law firm.

harneys has announced the promotion of 21 of its people globally. the promotions include one director, six senior associates, and two legal managers. these promotions are in addition to the two new partners and 10 new counsel following the firm’s annual senior legal promotions in january 2024.

director

in the firm’s it department, janine louie, based in london, has been promoted to director of it applications & development.

senior associates

the new senior associates are majdi beji (private wealth | cayman), luke fraser (litigation, insolvency & restructuring | cayman), stefanos kapellidis (banking & finance | luxembourg), elyse kwong (banking & corporate and corporate | hong kong), johime lee (litigation, insolvency & restructuring | hong kong), and jhneil stewart (litigation, insolvency & restructuring | bvi).

legal managers

betty chen (investment funds and regulatory & tax | hong kong) and anna krendzelakova (investment funds and regulatory & tax | cayman) are new legal managers.

global managing partner william peake commented: “both personally and on behalf of the partnership, i would like to congratulate all these individuals. i look forward to seeing their continued growth and success within our firm. these promotions acknowledge their dedication, hard work, and commitment to excellence. at harneys, we believe in nurturing internal talent and are proud to offer our people pathways for advancement and development.”

*the promotions of luke fraser, anna krendzelakova, and jhneil stewart are subject to the necessary regulatory approvals.

harneys has won a number of deal of the year awards from china business law journal for its expertise in debt and equity capital markets.

the deals

• j&t global express’s hong kong ipo: acting as cayman islands legal counsel to j&t global express limited on its successful initial public offering with an offering size of hk$3,918.6 million (approximately us$500 million).
• pioneer reward us$3 billion medium term note programme: acting as bvi counsel in respect of the establishment of pioneer reward limited's us$3 billion guaranteed medium term note programme to be listed in hong kong and singapore, and its issuance of us$800 million 5.25 per cent notes under such programme listed in hong kong.
• chindata privatisation: acting as cayman islands counsel to apg asset management n.v. in relation to the going-private transaction of chindata group holdings ltd.
• aag energy take-private: acting as cayman islands legal counsel to aag energy holdings limited on its take-private transaction valued at approximately us$347 million.

shanghai managing partner vicky lord commented: “we are extremely proud to win these awards which are a testament to our unwavering dedication to providing top-tier legal services and expertise to our clients. at harneys, we strive to bring innovative offerings to clients and pride ourselves on responding quickly to rapidly changing regional markets. thank you to china business law journal for this recognition and our clients for trusting us with their instructions.”

these china-focussed deals were led by partners in the firm’s shanghai and hong kong offices. the aag energy deal also involved seamless collaboration with partners from the firm’s cayman islands office.

every year, china business law journal gathers feedback from hundreds of in-house counsel and industry professionals, combined with the feedback from the editorial team, to highlight the most significant deals and transactions in the chinese market.

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.

harneys acted as offshore counsel for yestar healthcare holdings company limited’s restructuring of its offshore debt liabilities alongside international counsel, dechert llp, and financial advisers to yestar, admiralty harbour capital limited. the yestar group is one of the largest distributors and service providers of in vitro diagnostic products in the prc with a distribution network of over 1,588 hospitals and clinics.

the harneys team advised yestar on the implementation of a scheme of arrangement in the cayman islands in order to facilitate a restructuring of yestar’s outstanding bond liabilities in the aggregate principal amount of us$194.5 million. the restructuring will, amongst other things, allow the company to discharge its liabilities under the outstanding notes.

the sanction of the scheme is a significant milestone towards the holistic restructuring of yestar’s material indebtedness, which will significantly reduce the debt burden of the yestar group and provide it with a long-term, sustainable capital structure that enables the company to stabilise its business and protect the interests of all stakeholders.

the harneys team was led by partners chai ridgers and ben hobden, supported by counsel strachan gray, senior associates sanjev guna, benjamin bronzon and caitlin murdock, and associate celine kee.

harneys’ dedicated global restructuring group offers specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. led by a team of ranked partners, the group works closely with the firm’s formidable transactional, litigation, funds, trusts, tax and regulatory teams, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.

harneys acted as british virgin islands legal counsel to yoov, a hong kong ai business, on its proposed us$250 million reverse merger and listing on nasdaq. under this transaction, yoov will be merged with nasdaq-listed clinical stage biopharmaceutical company aptorum group (nasdaq: apm) and the existing business of aptorum group will be spun off.

this transaction involves complex deal structuring and challenging capital markets regulations. it is considered a “reverse merger” as the shareholders of yoov will control and own a majority stake of the combined company following the merger. closing of this transaction is subject to, among other conditions, nasdaq’s approval of the combined company’s initial listing application.

yoov is a hong kong-based business artificial intelligence and automation platform that goes beyond traditional automation by applying advanced ai techniques to optimise various aspects of business operations. with its comprehensive suite of tools and technologies, yoov empowers businesses to streamline their operations, improve efficiency, and drive digital transformation. yoov seamlessly combines its robotic process automation platform with advanced ai capabilities, which offers a variety of possible solutions to cater to the emerging needs of companies across different sectors.

the harneys team was led by partner alan au with support from senior associate nicholas fong and paralegal matt ip. stephenson harwood acted as hong kong counsel and barnes & thornburg acted as us counsel to yoov. alan commented: “we are honoured and thrilled to have advised our clients on this exciting transaction. undoubtedly, this represents a significant milestone for the ai industry in hong kong. we anticipate seeing more us listings by way of reverse merger as an alternative to a traditional ipo or de-spac for asia businesses, in the near future, primarily due to lower listing expenses, quicker access to financing, and not being as dependent on market conditions as there isn’t fundraising at the time of listing.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands legal counsel to finfront and bitfufu, a singapore-based crypto mining platform, on bitfufu’s de-spac business combination with blank-check company arisz acquisition corp. the transaction completed on 29 february 2024. following completion, the listed company bitfufu inc. commenced trading its class a ordinary shares and warrants on the nasdaq stock market on 1 march 2024 under the ticker symbols “fufu” and “fufuw”.

bitfufu is a fast-growing digital asset mining service and a world-leading cloud mining service provider. following completion of the merger, bitfufu received us$74 million in private investment in public equity which it will use to expand its crypto mining offerings.

the harneys team was led by partner raymond ng with support from counsel denise chan. harneys fiduciary serves as the registered office for bitfufu and was actively involved in the merger. wilson sonsini acted as onshore counsel to finfront and bitfufu. raymond commented: “we are pleased to have advised our clients on this transaction and wish bitfufu every success in its plans to expand its crypto mining offerings. we anticipate this to be the first of many such strategic endeavours as we continue to advise clients on de-spac mergers throughout the year.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys advised digicel international finance limited and certain affiliated entities (the digicel group) in connection with a consensual cross-border restructuring of approximately us$3.8 billion of its indebtedness. the transaction involved entry by the digicel group into a restructuring support agreement in june 2023 (the agreement) the terms of which were to be implemented by way of bermuda schemes of arrangement (bermuda scheme).

the agreement and bermuda scheme which closed on 29 january, 2024, the equitization by certain creditors of a substantial portion of existing debt instruments. the equitization and a wider refinancing and extension of other debt instruments in the group’s capital structure, reduced the group’s funded indebtedness by $1.7 billion.

the security package and guarantees in connection with the group’s existing debt were amended and/or restated with wilmington savings fund society, fsb (wsfs) (as the new administrative agent, collateral agent and trustee) to secure the new obligations under the new 1l secured notes and the new 1l credit agreement in relation to each relevant local jurisdiction. as bvi counsel to the digicel group, harneys advising upon security document requirements in connection with the entry into the new 1l secured notes and the new il credit agreement.

with a customer base of roughly 10 million business and consumer customers across 25 markets, digicel is a leading provider of mobile phone networks and home entertainment services, including the caribbean and central america.

working alongside davis polk & wardwell llp, the harneys team was led by partner, michelle frett-mathavious and included associates rhonda brown.

harneys is pleased to announce that carolynn vivian has been appointed cayman islands’ office managing partner* and richard reid has been appointed chief people officer for harneys’ law firm. both appointments are effective 1 april 2024.

carolynn is taking over the office managing partner role from nick hoffman, who will now focus on his new role as global head of litigation, insolvency, and restructuring.

carolynn has over 20 years of experience advising clients on all aspects of corporate and regulatory law across numerous jurisdictions, including mergers and acquisitions, finance, restructuring, and licensing. her new role follows her recent promotion to partner, which was announced in january this year. she also serves as the firm’s group general counsel and will continue with this role in addition to her new responsibilities.

since joining harneys in 2022, richard has been the architect behind some of the firm’s most forward-thinking human resources initiatives, from revamping the firm’s employee assistance programme to pioneering the mental health buddies scheme. richard also coordinates a regular schedule of wellbeing webinars for employees on topics such as men's health, menopause, parenting, nutrition, and mindfulness. before joining harneys, richard held various senior roles in the field of wellbeing and professional development, including working as a psychological consultant, psychotherapist and leadership coach to ceos, entrepreneurs and high net worth individuals.

global managing partner william peake commented: “i would like to congratulate carolynn and richard on their well-deserved appointments. with her unique skillset combining corporate governance and client facing work, carolynn will bring a fresh perspective to the leadership of our thriving cayman islands’ office. richard's considerable experience in professional development and employee wellbeing strengthens and aligns with our ethos that our people are the heart of harneys. i am confident they will both excel in their new roles.”

harneys continues to invest in the growth and development of its people, demonstrating a steadfast commitment to nurturing leadership from within. in january, nick hoffman was announced as global head of litigation, insolvency, and restructuring; claire goldstein and christopher pease were announced as co-heads of bvi litigation; and jonathan addo was appointed global head of contentious regulatory. these recent promotions reflect the continuous advancement opportunities that define the firm’s culture.

*subject to cayman islands immigration and regulatory approval.

harneys continues to achieve significant recognition in the chambers global guides with several band 1 rankings and individual lawyer accolades.

british virgin islands

the bvi team retained their band 1 ranking for their corporate & finance and investment funds expertise. sources say they are the “market leaders and respected experts”.

partner philip graham, “an exemplary lawyer and bvi expert” maintained his band 1 ranking, with partners michelle frett-mathavious, “experienced, reliable and always available” and george weston, "always good to work with" also listed.

clients say the dispute resolution team “can handle disputes of any size and complexity”. in particular, partner claire goldstein was praised as “an innovative solution-finder”.

uk – offshore

the london team were ranked as band 1 for british virgin island law. sources note that “they are involved in more complex and sophisticated matters than any other bvi firm”.

global managing partner william peake and partner john o’driscoll were listed as cayman foreign experts; london managing partner rachel graham, along with consultant indira birkwood were listed as bvi foreign experts. clients highlighted their responsiveness, reliability, and professionalism.

clients described william as a “super-smart operator”, rachel as “calm and collected under pressure”, and john as ”a pleasure to work with”.

asia-pacific region - offshore

the hong kong team was recognised for their prowess to “execute rapidly and provide innovative and actionable advice”, and noted as being “dependable, effective, and always available”. partner ian mann, noted as “a go-to litigator” maintained his band 1 ranking, with hong kong managing partner paul sephton and partners paula kay, maggie kwok, raymond ng, chai ridgers also listed.

maggie was praised for being “always ready to go the extra mile”, chai was noted as being “the go-to restructuring partner”, and clients commented that raymond is “reliable in complex and sophisticated matters”.

cyprus

cyprus managing partner pavlos aristodemou and partner nancy erotocritou were listed in the cyprus guide for general business law, with nancy maintaining her band 1 ranking.

the team was especially praised for their “good coverage of the applicable areas of cypriot law combined with good familiarity with international finance” and for answering questions “comprehensively and in a timely manner”.

cayman islands

seven lawyers were featured from the cayman office across the corporate & finance, dispute resolution and investment funds guides, with clients commending the team for being “proactive, responsive, professional, agile and very pleasant to deal with and work with”.

partners matt taber and nick hoffman were praised for their “clear and concise” advice. clients say partner ben hobden is “responsive, intelligent and commercially minded”, partner jessica williams is “very bright, thorough, measured and calm”, and partner gráinne king is “a pleasure to work with”. also recognised were partners daniella skotnicki and james smith who were noted as an “excellent lawyer” and “a breath of fresh air to work with” respectively.

anguilla

harneys remains the sole firm acknowledged for its anguilla legal expertise based abroad. partner michelle frett-mathavious and counsel richard griffiths were listed as anguilla experts based in the british virgin islands and singapore respectively.

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service and rapid response. open, progressive and personable, the firm provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law to an international client base which includes the world’s top law firms, financial institutions, investment funds and private individuals.

harneys has secured the runner up title for the law firm of the year – caribbean accolade at the citywealth ifc awards 2024. the acknowledgment was unveiled during an award ceremony in london on 24 january, attended by counsel matthew howson.

henry mander, global head of trusts and private wealth, commented: “we appreciate the acknowledgment by citywealth of our firm's efforts. our expert global private wealth team continues to prioritise providing tailored and pragmatic solutions that span various sectors and jurisdictions, aiming to meet the unique requirements of our clients effectively.”

the awards highlight the excellence of advisers and managers in the private wealth sector. the winners and runners up are those judged to have excelled in achievement, innovation, expertise, and service.

the harneys private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and sufficiently flexible to adapt and evolve as those needs change.

harneys singapore continues to be ranked by legal 500 in its 2024 asia pacific guide. the team, which has “exceptional commercial acumen,” is noted for its strong reputation in the crypto, blockchain, and digital assets space.

in addition, singapore managing partner lishi fong and head of singapore litigation, insolvency and restructuring nicola roberts are highlighted as leading individuals and partner jayesh chatlani is recognised as a next generation partner.

clients have said lishi, whose expertise includes advising on cross border financing structures, fund formation and downstream advisory and investment activities, is “pragmatic, succinct, and excellent at her work”. nicola is praised for her strong track record handling complex cross-border litigation in the cayman islands, bvi, and bermuda. jayesh, who specialises in multi-jurisdictional shareholder disputes, funds litigation, and valuation disputes is described as “very approachable and tenacious. he knows his stuff on crypto-related insolvency matters.”

lishi commented: “we are thankful to our clients and peers for their unwavering support and faith in us. their endorsement truly reflects our team's exceptional commitment to providing superior client service. we are always ready and prepared to be the trusted advisors of our clients and assist them in fulfilling their business aspirations.”

harneys singapore offers a full range of award-winning contentious and non-contentious offshore legal services, including corporate, banking, finance, investment funds, private wealth and trusts, litigation, insolvency and restructuring, and regulatory in english and mandarin.

harneys acted as cayman islands and british virgin islands counsel for china aoyuan group limited’s restructuring of its offshore debt liabilities alongside lead international counsel, linklaters. the china aoyuan group limited is a leading commercial and residential property developer which focusses on the guangdong-hong kong-macao greater bay area and covers four major regions in the prc.

the sanction of the china aoyuan schemes and the add hero schemes by the courts of hong kong sar, cayman islands, and the british virgin islands is a significant milestone towards the holistic restructuring of aoyuan’s material indebtedness. it demonstrates aoyuan’s continued efforts to protect the interests of all stakeholders of the company, and to maintain aoyuan’s overall ability to deliver its projects on schedule and safely as well as to continue its business operations.

the harneys team advised aoyuan on the implementation of schemes in the cayman islands and the british virgin islands in order to facilitate the restructuring of the material financial indebtedness of aoyuan and, its immediate subsidiary, add hero.

the harneys team was led by partners chai ridgers, claire goldstein and ben hobden, supported by counsels natasha guthrie and charles wong, and senior associates sanjev guna and caitlin murdock.

harneys dedicated global restructuring group offers specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. led by a team of ranked partners, the group works closely with the firm’s formidable transactional, litigation, funds, trusts, tax, and regulatory teams, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.

harneys advised mercuria investment co. ltd. in relation to the successful closing of japan industry revitalization and innovation l.p., a cayman islands exempted limited partnership buyout fund, a parallel fund to admit non-japanese investors, as a part of valued at approximately jp¥44 billion.

the deal marks the first global fundraising attempt by mercuria investment under a parallel fund structure, set up by a cayman exempted limited partnership alongside its flagship japanese limited partnership. by doing so, the company has generated approximately jp¥44 billion of aggregate commitments.

mercuria investment manages alternative investment funds and seeks excess returns in low-liquidity sectors. their foundation as a multi-strategy fund manager is built upon a diverse range of investment strategies. these strategies encompass growth investment, value investment, buyout/succession investment, real estate, cash flow investment in line with the macro environment, and new funds based on those strategies.

partner yucheng fan led the harneys team with assistance from senior associate cherrie wong. they collaborated with simpson thacher & bartlett, who provided us and international law advice, and mori hamada & matsumoto, who provided japanese law advice.

yucheng commented: “we are pleased to have been instructed on this transaction, which further illustrates our commitment to delivering high-quality legal services in complex cross-border matters. we look forward to supporting mercuria investment as they continue to innovate and expand their global reach, particularly in the japanese mid-market buyout space.”

harneys advises on all aspects of the life of bvi, cayman, cyprus, and luxembourg funds, including formation, restructuring, and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys is pleased to announce the return of colin riegels as a partner in the london office, effective 1 january 2024.

colin previously served as the firm’s bvi managing partner and the global head of the banking & finance practice group before stepping back in 2019 to pursue his doctorate relating to cross-border enforcement of security interests at oxford university.

colin will work closely with the firm’s general counsel function and will provide ongoing support to the transactional practice group. he specialises in all aspects of offshore financing with an emphasis on derivatives, netting and close-out, insolvency, and security enforcement. he has also done extensive work on complex issues relating to company and partnership law, and in relation to the law of confidentiality. colin has been closely involved in the development of some of the most important legislation in the british virgin islands, including the bvi business companies act, the boss act and the arbitration act.

global managing partner william peake commented: “it is fantastic to welcome colin back to the firm as a partner; we have greatly benefited from colin’s expertise and guidance for over 20 years in his previous roles. his extensive knowledge and experience will be an asset to our global firm and clients.”

harneys london is led by a senior team of experienced offshore lawyers providing a full range of services across all practice areas and specialisms. the harneys network is one of the largest among offshore law firms, with locations in major financial centres in europe, asia, the americas, and the caribbean, allowing the firm to provide services of the highest quality to clients in their own languages and time zones.

harneys is pleased to announce that cayman managing partner nick hoffman has been appointed as global head of the litigation, insolvency, and restructuring group, in addition to other key leadership updates in the group, all effective 1 january 2024.

nick is taking over from partner phillip kite, who served in the role for over 25 years and built the current litigation department into the successful group it is today. nick specialises in insolvency and restructuring, financial services litigation, company disputes and fraud. his clients include banks, multinational corporations, and financial services professionals. he has practised in the cayman islands since 2011 and is recognised as a leading cayman litigator.

in addition, partners claire goldstein and christopher pease have been appointed co-heads of the bvi litigation group. partner jonathan addo has been appointed as the global head of contentious regulatory, a burgeoning practice within the firm.

phillip kite commented: “i am absolutely delighted that nick has agreed to take over as global head of litigation. having worked with nick for many years, i am sure that he is the best person to lead our outstanding team to the next phase of growth. nick is an outstanding litigation partner and i look forward to supporting him in his new role.”

global managing partner william peake commented: “i would like to congratulate nick in his new role as global head of litigation. he is the ideal candidate to drive forward the firm’s global litigation strategy. similarly, congratulations to claire, chris, and jonathan on their new leadership positions. we wish them all every success and know they will thrive in their new roles. i would also like to thank phillip kite for his remarkable work over the years and the current strength of that team.”

harneys litigation, insolvency and restructuring covers three main practices: litigation & insolvency, restructuring, and international arbitration. offshore litigation, insolvency and asset recovery are one of the firm’s core areas of specialisation, providing clients with clear, timely and innovative solutions in complex multi-jurisdictional disputes. the firm’s dedicated global restructuring group offers the high-quality expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. the firm’s international arbitration team are experienced specialists, regularly advising on all aspects of enforcement and interim measures in support of arbitration.

harneys is pleased to announce promotions to partner and counsel across our cayman islands, cyprus, hong kong, and shanghai offices. all changes are effective 1 january 2024.

two new partners have been appointed, carolynn vivian in the cayman islands and jessie xu in shanghai.

carolynn has over 20 years of experience and advises on matters across numerous jurisdictions involving an array of corporate law matters, mergers and acquisitions, corporate and finance transactions, restructuring and licensing.

jessie regularly advises clients on a variety of offshore corporate matters, including mergers and acquisitions (private and public offerings), initial public offerings, joint ventures, equity financing, banking and financial affairs and group reorganizations and restructurings.

additionally, 10 lawyers have been promoted to counsel across our cyprus, hong kong, and shanghai offices:

stephanie havatzias (banking & finance and corporate) in cyprus, denise chan (corporate), oswald kan (banking & finance and corporate & commercial), natalie lee (litigation, insolvency, and restructuring), lawrence sham (investment funds), marina tse (banking & finance), jacquelyn wong (investment funds), sui hung yeung (litigation, insolvency & restructuring) in hong kong, and vivian ma (litigation, insolvency & restructuring) in shanghai.

global managing partner william peake commented: “i would like to extend my congratulations to everyone, both personally and on behalf of the partnership. these promotions reflect years of hard work and sacrifice for which the firm is very grateful. i wish them the best and look forward to seeing their careers continue to thrive at harneys.”

*all promotions are subject to the necessary regulatory approvals.

harneys cayman islands, acted as lead legal counsel to 3iq, one of the world's leading digital asset investment fund managers, on the launch of the industry's first comprehensive suite of crypto hedge fund managed accounts through the 3iq managed account platform (qmap). harneys british virgin islands, acted as lead counsel to 3iq on the establishment of qmap’s bvi approved manager. the qmap innovative platform features nine crypto hedge fund strategies, establishing 3iq as the frontrunner in crypto hedge fund managed accounts and active digital investment strategies.

as the first platform of its kind, qmap connects institutions with digital asset alpha strategies in a secure, transparent, and efficient framework. the platform will launch with usd$50 million of capital from 3iq and institutional investors.

the harneys cayman team was led by partner matt taber and supported by senior associate alla segal and associate louise hayward and the harneys bvi team was led by philip graham and supported by senior associate ian chambers. matt taber is highly regarded as a virtual assets specialist and is seen as one of the most knowledgeable and experienced funds and transactional lawyers in the cayman islands. matt commented on the transaction, stating: "through our role in this launch we've highlighted our experience, both legal and commercial, in navigating the complex legal landscape in the digital asset fund management space. our collaboration with 3iq exemplifies not only our expertise but also our unwavering commitment to fostering innovation, transparency, and delivering professional legal services that propel our clients and the industry forward."

the blockchain and digital asset team at harneys is comprised of corporate, banking, investment funds and litigation lawyers who act for both issuers of digital assets and investment funds who invest in them. our team is at the cutting edge of finance and technology, providing our clients with the strategic guidance they need to thrive in this dynamic era.

harneys has retained its tier 1 ranking for "offshore law firms - hong kong" in the legal 500 asia-pacific 2024 guide, solidifying its position as a leading player in the offshore legal industry.

additionally, six partners have been recognised as leading individuals in their respective fields: julie engwirda, maggie kwok, ian mann, raymond ng, chai ridgers, and paul sephton.

the firm’s success is underscored by the feedback received from its clients. one client expressed, "harneys is a very commercial, user-friendly, and hardworking team who work tirelessly to ensure transactions are completed efficiently and effectively."

asia managing partner paul sephton commented, "we are thrilled to receive this recognition in the legal 500 asia-pacific 2024 guide. it is a testament to the hard work and dedication of our exceptional team.

the legal 500 asia-pacific guide is a prestigious publication that offers a comprehensive analysis of law firms across the asia-pacific region. its rankings are based on extensive research and feedback from clients and peers.

harneys hong kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in english, mandarin, and cantonese. the firm’s three full-service offices across hong kong, singapore and shanghai represent one of the largest asia networks of any offshore law firm.

harneys has hired litigation, insolvency and restructuring partner henry tucker and appointed him as the firm’s bermuda office managing partner, effective 21 november. henry joins harneys from another offshore law firm where he was a partner in the dispute resolution team in the firm’s bermuda and hong kong offices.

henry advises creditors groups, boards, shareholders, liquidators, trustees and beneficiaries of bermuda structures in relation to complex cross border issues involving asset realization, corporate control, restructuring, valuation and enforcement. he is recognised as a leading insolvency adviser with significant experience of advising in relation to restructurings both in and out of court. he also brings significant experience of acting in cases relating to the application of the international financial sanctions regime and regulatory enforcement proceedings in bermuda.

william peake, harneys global managing partner, commented: “henry’s appointment is part of a broader, considered, and planned design for our global disputes team. we are tremendously pleased to welcome henry who joins existing bermuda-based partner jayson wood. henry and jayson will work closely with our leading asia practice and the broader global team, which now includes john o’driscoll and his london based offering. it is important to our client base that our joined up approach to addressing their needs extends to every aspect of offshore advice and representation. we have no doubt that henry will continue the harneys motif to deliver excellent and responsive service, providing class leading expertise with respect to bermuda-related matters.”

henry is the third lateral partner hire to harneys’ dispute resolution practice since september. the firm added partners ben hobden and john o’driscoll to its litigation, insolvency and restructuring group in the cayman islands in september, and in london in november, respectively.

harneys is excited to announce the official launch of h3, a comprehensive website that connects builders and entrepreneurs with verified service providers in the web3, blockchain, and cryptocurrency space. the full website is now live at h3web3.xyz.

the h3 network hosts 11 service providers at launch, cavenwell group, cole-frieman & mallon llp, englebert, harris & trotter llp, harneys, harneys corporate services limited, horizons global, hunt drg, lemma solutions, rosehill legal and vdv e paiva gomes and will continue to build out a stellar group of essential experts in this space.

h3 aims to be a one-stop-shop for individuals and organisations seeking specialised expertise in areas such as legal and regulatory compliance, accounting and audit support, dao management, and much more. with our curated selection of trusted professionals from around the globe, we are committed to helping projects in the web3 ecosystem reach new digital heights.

partner philip graham commented, “by understanding the challenges faced by builders and entrepreneurs navigating the rapidly evolving web3 landscape, our platform aims to provide access to a global network of professionals who possess the necessary skills, experience, and shared vision to drive web3 projects towards success.”

key features of the h3 platform:

• curated selection of handpicked service providers who specialise in various aspects of the web3 ecosystem, ensuring that users have access to verified experts in their respective fields.
• comprehensive services including legal and regulatory compliance, accounting and audit support, programming and coding, and other web3-related services.
• a global network, connecting builders and entrepreneurs with professionals from around the world, enabling collaboration and knowledge-sharing on a global scale.
• user-friendly interface offering a seamless browsing experience, making it easy for users to explore and connect with service providers who align with their project requirements.

whether you are a builder looking for expert guidance or a service provider eager to showcase your offerings, h3 is here to support and empower you in the web3 space. visit the full website at h3web3.xyz to browse and build your trusted advisory team.

harneys is pleased to announce its top tier rankings in the 2024 legal 500 caribbean guide. the firm has been recognised as tier 1 for banking, finance and capital markets, dispute resolution, investment funds, regulatory and compliance, and trusts/private client in the british virgin islands (bvi), and trusts/private client in the cayman islands.

key clients have provided glowing testimonials, emphasising harneys' strengths and the value it brings to their businesses. one client stated, "their ability to provide sound and practical advice that clients are able to digest easily makes them stand out." another client expressed their confidence in the firm, saying, "harneys is the firm i trust for the things that really matter." clients have also praised the team's transparency and reliability. one client enthused, "the harneys team is absolutely top of the market - smart, commercial, strategic, responsive; everything one could wish for."

numerous lawyers were also recognised for their contributions in their respective practice areas, showcasing the strength and depth of expertise across the firm.

the following lawyers were ranked:

leading individuals

• partner tanya cassie-parker – bvi banking, finance and capital markets
• partner philip graham – bvi corporate and commercial; investment funds; regulatory and compliance
• partners claire goldstein and nick hoffman – bvi and cayman dispute resolution
• partner henry mander – bvi and cayman trusts/private client
• partner matthew taber – cayman investment funds

next generation partners

• partner michelle frett-mathavious – bvi banking, finance and capital markets
• partner george weston – bvi corporate and commercial
• partners jonathan addo, ben hobden, christopher pease, and gráinne king – bvi and cayman dispute resolution
• partner joshua mangeot – bvi regulatory and compliance
• partner charles moore – cayman trusts/private client
• partner james smith – cayman investment funds

rising stars

• counsel kimberly crabbe-adams – bvi dispute resolution
• associate majdi beji – cayman trusts/private client

bvi and cayman managing partners, tanya cassie-parker and nick hoffman welcomed the rankings, noting that, “they are a testament to the firm’s exceptional legal expertise and unwavering commitment to providing unparalleled service to clients across the globe. with an impressive array of top tier rankings, it demonstrates that legal 500 recognises harneys as a household name in the international legal marketplace. the firm's commitment to responsiveness and creativity has earned the trust and loyalty of its clients, reinforcing harneys' reputation as a trusted advisor in complex legal matters.”

harneys is a global law firm with a presence in major financial centres around the world. with a focus on delivering innovative and practical solutions, the firm provides expert advice to clients across a wide range of industries. harneys' team of talented professionals is deeply rooted in the legal culture of the jurisdictions they operate in, enabling them to offer unparalleled insights and guidance.

harneys has hired john o’driscoll to lead its london-based litigation, insolvency & restructuring practice, effective from 6 november 2023. john joins the firm from another offshore firm, where he led their insolvency & dispute resolution team in london, practising the laws of bvi and cayman.

john advises on all forms of formal officeholder appointments and his client base includes creditors, debtors, banks, hedge funds, and private equity funds. he has extensive experience in multi-jurisdictional disputes and restructurings. his arrival also brings significant experience to harneys’ preeminent disputes practice in the cryptocurrency and digital assets space.

underlining its commitment to growing the london office, the firm has also hired paul goss as of counsel on 2 october 2023. paul specialises in contentious and non-contentious restructuring and insolvency work.

together with these hires, associate gerrard tin has relocated from bvi to london. gerrard also specialises in insolvency and commercial litigation, and will advise clients on restructuring, bankruptcy and insolvency issues. this will significantly bolster the established team in london, made up of partners jeremy child and francesca gibbons.

william peake, harneys global managing partner, commented: “the rejuvenation of key teams allied to attracting the very best practitioners has long been our aim and we are delighted to welcome john to the firm. as we advise clients navigating global economic turbulence, we are seeing a growing need for our restructuring and insolvency expertise. john will play an important role in the evolution of our litigation, insolvency & restructuring practice, and our long established market leading team in london will continue to provide impeccable service to our clients.”

john is ranked by chambers and partners and is noted as a leading individual in legal 500. he is also co-founder of the raiidar international network of over 1,000 insolvency and restructuring professionals in london.

he is the latest partner hire for the firm’s litigation, insolvency & restructuring group, with the addition of cayman partner ben hobden in september.

harneys acted as cyprus legal counsel to the banking syndicate (arrangers, lenders, and hedging banks) on the setting up of a new €1.2 billion financing in europe for phoenix tower international.

through its subsidiaries, phoenix owns and operates over 22,000 telecom towers across europe (including cyprus), the united states, latin america, and the caribbean. the purpose of this new financing is to enable it to consolidate its european telecom towers portfolio, giving it more capacity to support its future growth in both existing and new european markets.

allen & overy advised the banking syndicate on the english, french, italian, spanish, and new york law aspects of the transaction.

harneys banking and finance practice group has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt, and enforcement of security and derivatives.

harneys acted as british virgin islands legal counsel to thunder power holdings limited, a technology innovator and manufacturer of premium electric vehicles incorporated in the british virgin islands, on its de-spac business combination with feutune light acquisition corporation, a delaware special purpose acquisition company. the transaction, approved by the board of directors of both companies, is expected to close in 2024.

subject to satisfaction of various customary conditions precedent, on completion thunder power's estimated enterprise valuation will be approximated us$400 million, with a potential addition of us$200 million in earnout shares, subject to specific performance conditions being met by the end of 2026.

headquartered in hong kong, thunder power creates electric vehicles that deliver a premium driving experience combined with a high degree of personalisation. its technology offers a highly competitive, long-range drive on a single charge of approximately 750km. on completion of the transaction, thunder power intends to accelerate research and development and fund the first manufacturing run of the limited-edition coupe.

the harneys team was led by partner raymond ng. commenting on the transaction, raymond said: "we are delighted to have advised thunder power on achieving this milestone. the development of electric vehicles as an eco-friendly alternative to gas continues to grow, and we are proud to support innovative companies in this sector. we wish thunder power all the best in their plans to target ev markets in the us, europe, and asia."

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs, and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

harneys acted as cayman islands legal counsel to j&t global express limited on its successful initial public offering with an offering size of hk$3,918.6 million (approximately us$500 million). its shares were listed and commenced trading on the main board of the hong kong stock exchange on 27 october 2023.

notably, several investors, including boyu capital, sequoia, sf, temasek, tencent, high tier, aspex management, d1 capital, and glp, participated in the offering as cornerstone investors, with a total subscription amount of approximately us$200 million.

j&t is a global integrated logistics service operator. founded in 2015, the company's express delivery network covers 13 countries, including indonesia, vietnam, malaysia, the philippines, thailand, and china. j&t is committed to providing customers with full-scenario logistics solutions through intelligent infrastructure and a digitalised logistics network to efficiently connect the world and benefit logistics globally.

the harneys team was led by shanghai-based partner calamus huang with support from senior associate lily zhang.

commenting on the transaction, calamus said, "we are honoured to have assisted j&t in its successful listing in hong kong. j&t has been a long-term client of ours and we have provided efficient and quality legal services throughout the listing process, including resolving a few unexpected and complex legal issues. we would like to congratulate them for achieving the fastest speed in the year of the rabbit for a courier company from inception to listing and look forward to witnessing new wonders that j&t will make in the future."

last month, the team also advised j&t on its successful filing with the china securities regulatory commission, making it the first company to complete the filing of a proposed hong kong ipo with a vie structure since the csrc's new filing rules came into effect in march this year.

harneys has a leading equity capital markets practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity-linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the ecm practice’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange, all of which have issuers who frequently use offshore structures as part of their capital raising.

for the twelfth consecutive year, harneys has held its top-tier status in the 2024 chambers uk rankings for its british virgin islands expertise.

according to sources, “the team at harneys are very responsive at all times, which is critical for time-pressured matters”, they are “very professional in the services provided", and their advice is “succinct and clear”. another source singled out the team for being “involved in more complex and sophisticated matters than any other bvi firm”.

amongst the individuals ranked in the bvi guide were partners rachel graham for her corporate and capital markets expertise, and consultant indira birkwood for her banking and finance knowledge. global managing partner william peake was ranked in the cayman islands guide for his restructuring and insolvency focussed practice.

london managing partner rachel graham commented: “this continued recognition is a testament to our collective efforts and highlights the vital role that our london team plays in delivering a superior level of service for our clients. i would like to congratulate the team on this achievement.”

led by a senior team of experienced offshore lawyers and located in the heart of one of the world's largest financial centres, harneys london opened in 2002 and services a strong base of clients in the uk and throughout europe. the firm’s london lawyers provide a full range of offerings across all practice areas and specialisms, and continue to build on the firm’s first mover advantage.

on 17 october 2023, the european council published the updated eu list of non-cooperative jurisdictions for tax purposes, known as the eu blacklist.

the eu removed the british virgin islands from the list as the jurisdiction has amended its framework on exchange of information on request and it will be reassessed in accordance with the oecd standard. pending this reassessment, the eu has included the bvi in annex ii, a schedule of countries that cooperate with the eu and have pending commitments.

the bvi’s move to annex ii was preceded by the global forum granting the bvi a supplementary review on 6 april 2023. the bvi was originally added to annex i (the list of non-cooperative jurisdictions) earlier this year on a technical basis as a result of receiving a "partially compliant" rating from the global forum, see our earlier statement here.

the removal of the bvi will be effective when published in the eu’s official journal, which is expected to take place in the next few days.

since 2020, the eu council updates the list twice a year. the next revision of the list is scheduled for february 2024. the eu’s press release can be found here.

harneys acted as cayman islands legal counsel to aag energy holdings limited on its take-private transaction valued at approximately us$347 million.

further to the approval by aag’s shareholders of an offer by liming holding limited for approximately us$347 million (equivalent to approximately hk$2.7 billion), the privitisation was completed by way of a scheme of arrangement, followed by the delisting of aag from the hong kong stock exchange on 12 july 2023.

the harneys hong kong team was led by partner chai ridgers and senior associate charles wong, with full support from partner alan au. the firm’s cayman team was led by partners nick hoffman and jayson wood.

partner chai ridgers commented: “we are pleased to have advised aag on its successful take-private transaction. this deal is a great example of how our cross-jurisdictional teams work together to provide clients with a seamless service.”

aag and its subsidiaries are principally engaged in the coal-bed methane (cbm) exploration and development sector in the prc. its key operating assets, the panzhuang and mabi concessions, are located in the southwestern part of the qinshui basin, which has the largest proved cbm geological reserves in the prc. the company’s panzhuang concession is the most commercially advanced sino-foreign cbm asset in china and the first sino-foreign cbm cooperative project to have entered full-scale commercial development and production.

harneys is a global offshore law firm with entrepreneurial thinking. experts in british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law, our lawyers are consistently recommended by leading independent legal directories. we advise an international client base including the world’s top law firms, financial institutions, investment funds and private individuals. our network is one of the largest among offshore law firms, with locations in major financial centres in europe, asia, the americas and the caribbean, allowing us to provide services of the highest quality to clients in their own languages and time zones.

harneys was named best law firm – fund domicile by hedgeweek at its apac digital assets awards ceremony held in singapore on 12 october.

these inaugural awards acknowledge exceptional contributions made by fund managers and service providers in the ever-evolving digital assets arena. voting was conducted via an online poll of the entire hedgeweek userbase, where participants were asked to choose among the shortlisted firms in each category.

asia head of funds and regulatory, maggie kwok, commented: “we are delighted to receive this award, which demonstrates the strength and reputation of our asia investment funds team and, more specifically, our asia-based blockchain & digital assets team. we would like to thank our clients and industry peers for nominating us.”

the firm’s dedicated blockchain and digital asset team comprises corporate, banking, investment funds, and litigation lawyers who not only understand the law and regulation surrounding blockchain and digital assets, but also understand the underlying technology. the firm’s asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region, with three full-service offices across hong kong, singapore, and shanghai.

harneys acted as cayman islands legal counsel to maiyue technology limited on its successful initial public offering with an offering size of hk$175 million (approximately us$22.4 million). its shares were listed and commenced trading on the main board of the hong kong stock exchange on 11 october 2023.

maiyue technology is an integrated it solutions services provider in the education and government it solutions markets in guangxi, china, with an operating history of over 20 years.

the harneys team was led by partner raymond ng with support from senior legal manager denise chan. raymond commented: “we are pleased to have advised maiyue technology on its successful listing. we send our congratulations to the team and wish them every success with their new projects that form part of their expansion strategy.”

deacons and zhong lun law firm provided hong kong and prc legal advice to maiyue technology respectively. tung & co. and anjie broad law firm provided hong kong and prc legal advice to the sole sponsor and the underwriters respectively.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys is pleased to announce that ki’eyra dawson has been selected as the harneys’ 2023 bvi scholarship recipient. the selection process was highly competitive, with many promising applicants. ki’eyra has demonstrated outstanding academic achievements and contributions to the community. the scholarship will support her aspirations to pursue international studies and facilitate a career in the legal profession. she will be starting her postgraduate diploma in bar vocational studies (with specialism) at the city law school at city university of london.

the bvi scholarship programme aims to invest in students who demonstrate outstanding scholastic achievements and whose professional aspirations are in line with harneys' professional development programme. this scholarship is devoted to providing financial coverage and job placement opportunities during and prior to programme completion.

tanya cassie-parker, bvi managing partner, commented: "i am incredibly impressed with the quality of applications we received this year. young people of the bvi have a passion to do and be great, they are brimming with promising potential. many of the applicants presented exceptionally well and not only excelled academically but also demonstrated leadership and a commitment to the bvi community. congratulations to ki’eyra and best wishes to all applicants. we are proud of you and look forward to seeing you excel in your future endeavours."

harneys believes in investing in local communities, whether through time, financial support, or expertise. this sense of commitment drives the firm to be caring and forward-looking in how it contributes to its communities as an organisation. the firm’s corporate social responsibility activities consist of four focus areas: helping the most vulnerable in its local communities, preserving the environment, promoting arts and culture, and investing in young people.

to learn more about the harneys bvi scholarship programme, please visit our bvi student and graduates page.

for the seventh consecutive year, harneys has maintained its top tier status in the 2024 legal 500 uk rankings for offshore firms in london.

a source described the team as “an exceptionally talented offshore practice with real bench strength,” adding that they are “always commercial and user-friendly, allied to possessing brilliant strategic and legal skills”, and noting their “great geographical spread’.

partners phillip kite, william peake, and consultant indira birkwood, continue to be recognised as leading individuals, and counsel matthew howson has kept his rising star title. partner rachel graham is also praised for her corporate expertise, while partner aki corsoni-husain is recognised for his regulatory and tax expertise, with sources noting that, “his relocation to london in 2022, cemented the firms’ position as a dominant offshore firm in the uk.”

london managing partner, rachel graham, commented: “i am proud of the team and our achievement in being ranked yet again as tier 1 by legal 500, it is a testament to our expertise and unwavering commitment to delivering top-notch client service.”

led by a senior team of experienced offshore lawyers and located in the heart of one of the world's largest financial centres, harneys london opened in 2002 and services a strong base of clients in the uk and throughout europe. the firm’s london lawyers provide a full range of offerings across all practice areas and specialisms, and continue to build on the firm’s first mover advantage.

harneys acted as cayman islands legal counsel to live streaming platform 17live holding on its proposed combination with singapore listed special purpose acquisition company vertex technology acquisition corporation ltd.

the proposed combination, which will mark the first purchase of a private company by a spac listed in singapore, is subject to satisfaction of various conditions including approvals from the singapore exchange and vertex’s shareholders. following the business combination, 17live will be listed on the sgx-st and the combined entity will be valued at approximately s$1.16 billion.

founded in taiwan in 2015, 17live connects users with virtual and live streamers who generate fashion, games, music, and other content through personalised search and recommendations.

the harneys team was led by partner raymond ng with support from senior legal manager nicholas fong. harneys fiduciary provides corporate services to 17live.

raymond commented: “we are delighted to have assisted 17live on reaching this milestone. having worked with 17live since 2020, it has been a joy to witness its growth and we look forward to partnering them and continuously providing legal and corporate services support for years to come.”

harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity-linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the ecm practice’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange, all of which have issuers who frequently use offshore structures as part of their capital raising.

harneys acted as bvi legal counsel to intercontinental energy on its strategic equity financing from gic in 2022 and its recent round of continued investment from gic and new investment from hy24, totalling us$115 million, in september 2023.

intercontinental energy delivers green hydrogen at scale to accelerate the energy transition using upstream wind and solar. since 2014, the company has pioneered best-in-class green fuel hubs with a portfolio of top-tier projects across australia and the middle east.

the harneys team was led by senior associate annie liu with support from partner raymond ng. raymond commented: “we are pleased to have advised intercontinental energy on its two rounds of equity financing. with the view to help the world meet decarbonisation and greenhouse gas reduction goals, we wish them every success in delivering their green hydrogen vision.”

harneys has extensive experience in both the wider energy sector and specifically in the renewable energy sector and has worked on a number of esg initiatives where clients explore socially conscious and environmentally sustainable projects using offshore companies. the firm’s global team of lawyers advise on a variety of renewable energy financing and acquisition projects, including joint ventures, m&a transactions, and debt and equity capital raises.

harneys advised cheche technology inc. and cheche group inc. on the de-spac business combination with prime impact acquisition i, the transaction completed on 14 september 2023. following the business combination, the listed company cheche group inc. commenced trading its class a ordinary shares and warrants on the nasdaq capital market on 18 september 2023 under the ticker symbols "ccg" and "ccgww".

cheche is the first variable interest entity structure to receive the green light from the regulator after china's new registration rule for overseas ipos was introduced earlier this year. it is also the first chinese company to get listed via a business combination with a spac.

established in 2014 and headquartered in beijing, china, cheche is a leading auto insurance technology platform with a nationwide network of around 110 branches licensed to distribute insurance policies across 24 provinces, autonomous regions, and municipalities in china. prime impact is a cayman islands-exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganisation, or similar business combination involving prime impact and one or more businesses.

the harneys team was led by partner raymond ng and senior associate annie liu with support from paralegal matt ip. harneys fiduciary serves as the registered office for cheche.

raymond commented: “we are pleased to have advised cheche on this transaction. with cheche setting the precedent, we look forward to more de-spac activities in the united states of america and hong kong involving chinese vie structures.”

harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity-linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the ecm practice’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange, all of which have issuers who frequently use offshore structures as part of their capital raising.

harneys acted as cayman islands legal counsel to simpple ltd on its successful us listing. simpple’s shares commenced trading under the ticker “sppl” on the nasdaq capital market on 13 september 2023.

headquartered in singapore, simpple operates in the proptech space, providing innovative technology solutions for autonomous facility management. since its establishment in 2016, simpple has expanded its reach beyond singapore to australia and the middle east, serving over 60 public and private sector clients. the firm's unique offering is the simpple ecosystem, an automated workforce management tool comprising software, hardware, robotics, and iot devices for building maintenance, surveillance, and cleaning.

singapore managing partner lishi fong led the harneys team with support from associate jonathan lim. lishi commented: "we are pleased to have played a part in simpple's successful listing and extend our best wishes for their future endeavours. we are confident that they will continue to innovate and expand their global footprint. this venture further solidifies our reputation for working with forward-thinking companies in the tech sector.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high-value private equity transactions, landmark ipos, and the full spectrum of public and private m&a and joint ventures.

harneys has secured a tier 1 ranking in this year’s iflr1000 emea guide for its financial and corporate expertise in cyprus. this is the fourth consecutive year the firm has received this recognition.

a client described the firm as: “goal oriented, knowledgeable, responsive, and reliable”, adding that they were “precisely the kind of partner we were looking for in providing local counsel services in financing matters.” another client added: “they have provided prompt and excellent service in a clear and punctual manner. they have a very good knowledge of the financing and banking aspects of the transaction.”

partners pavlos aristodemou and nancy erotocritou are celebrated as “market leaders”; partner aki corsoni-husain and consultant demetris loizides have received “highly regarded” status; and partner george apostolou is recognised as a “notable practitioner”.

cyprus managing partner pavlos aristodemou commented: “we are delighted with this ranking, which acknowledges our profound financial and corporate acumen and demonstrates our dedication to delivering superior client service. i am immensely proud of the team's sustained efforts and look forward to building upon our successes in the future. thank you to our clients for their support.”

as a leading international multi-jurisdictional law firm with a physical presence in cyprus, harneys cyprus sets a precedent of unrivalled professionalism to its clients around the world.

ranked lawyers

harneys acted as british virgin islands counsel to eqt private equity in relation to the sale of its interests in the dataflow group, a leading global provider of credential verification services. the shares were sold to arcapita group holdings limited, a global alternative investment firm.

since eqt’s original acquisition of a majority stake in dataflow in 2014, dataflow has transformed into a digitally enabled, leading service provider of compulsory pre-employment primary source verification services. they have established a robust global network that incorporates over 160,000 issuing authorities spanning 190 nations worldwide.

partner raymond ng led the harneys team with support from senior legal manager nicholas fong. raymond commented: "we are pleased to have supported eqt in this deal, which sets the stage for dataflow's future expansion under the guidance of arcapita."

baker mckenzie provided hong kong legal advice to eqt.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as bvi counsel in respect of the establishment of pioneer reward limited's us$3,000,000,000 guaranteed medium term note programme to be listed in hong kong and singapore, and its issuance of us$800,000,000 5.25 per cent notes under such programme listed in hong kong.

pioneer reward limited is a subsidiary of huatai international, which is part of the huatai securities co., ltd. group. established in 1991, huatai securities is a leading integrated securities group in china, with a substantial customer base, a leading e-platform, and a highly collaborative full-service business model. the aforementioned medium term note programme is guaranteed by huatai securities co., ltd.

global head of banking & finance and corporate groups and hong kong managing partner paul sephton, senior associate oswald kan, and legal manager natalie chan advised the client. king & wood mallesons and deheng law offices also advised the issuer.

paul commented: “it is our pleasure to have worked with the huatai team. we look forward to many more collaborations in future.”

the banking & finance practice group at harneys has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives. the team’s deep understanding about the business environment in which their clients operate help build strong networks with industry players and service providers in key markets around the world.

harneys has strengthened its litigation, insolvency and restructuring group with the appointment of ben hobden, who joins the firm as a partner in its cayman islands office. his appointment is effective as of 4 september 2023.

ben joins the firm from another offshore law firm, having been a partner in the cayman islands for six years. his appointment further bolsters harneys’ dispute resolution practice, adding specialist expertise to meet growing client demand in insolvency and restructuring services.

with over a decade of experience practising in the cayman islands, ben advises financial institutions, directors and corporates across a wide range of commercial litigation matters. he is an expert in restructuring by way of scheme of arrangement, activist shareholder litigation (including those under s.238 of the companies act), insurance disputes, all forms of interim relief and general corporate disputes.

ben regularly acts for insolvency practitioners, debtors and creditors in insolvency and restructuring situations, and has advised on many of the largest restructurings in the cayman islands. he has appeared before the grand court and court of appeal on numerous occasions, and he is also a member of the recovery and insolvency specialists association’s legal and regulatory committee.

nick hoffman, cayman islands managing partner, commented: “we are delighted to welcome ben to harneys. his experience in commercial litigation makes him a great addition to the team and strengthens our offering in the cayman islands. with global insolvencies and restructurings on the rise, we are seeing a growing demand for advice in these areas. ben’s expertise will help us meet our clients’ needs and guide them through the complexities that can arise for companies in distressed situations.”

ben is ranked by chambers and partners, legal 500 and who’s who legal. he has also been recognised by global restructuring review’s 40 under 40 (2021) and lexology’s client choice awards (2020).

he is the latest partner hire for the firm in the cayman islands, with the addition of regulatory & tax partner juan pablo urrutia in august. the development of the harneys litigation and insolvency team in the cayman islands is mirrored globally, with 84 team members now in the group.

the firm has long been considered a leader in key offshore jurisdictions, providing a full range of legal services in the areas of banking and finance, corporate, investment funds, litigation and insolvency, restructuring, regulatory and tax, international arbitration, and private wealth.

harneys acted as cayman islands counsel to apg asset management n.v. (apg) in relation to the going-private transaction of chindata group holdings ltd. (chindata), a leading carrier-neutral hyperscale data centre solution provider in asia-pacific emerging markets.

bain capital will acquire all of the outstanding shares of chindata along with certain existing and new investors. the transaction is currently expected to close in the fourth quarter of 2023 or the first quarter of 2024 and is subject to customary closing conditions, including approval by chindata's shareholders.

the going-private transaction was led by harneys hong kong partners alan au and ian mann. we worked closely with davis polk & wardell, who acted as the us legal counsel to apg in the transaction.

apg asset management is one of the largest pension investors in the world and a leading global long-term investor, managing in total a value of approximately €538 billion.

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, bermuda, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands counsel to able view global inc. (able view) on its de-spac business combination with hainan manaslu acquisition corp. (hmac) with a pro-forma enterprise value of approximately us$400 million.

able view, one of the largest comprehensive brand management partners of international beauty and personal care brands in china, and hmac, a cayman islands incorporated special purpose acquisition company, signed a business combination agreement in november 2022. the merger was approved by the shareholders of hmac earlier this month and was completed on 17 august 2023. the shares and warrants of able view begin trading on the nasdaq capital market today.

founded in 2015, able view is a shanghai-based cross-border brand management company specialising in the beauty and personal care industry.

partner raymond ng and senior legal manager nicholas fong led the harneys hong kong team. pryor cashman, llp acted as us legal counsel to able view. loeb & loeb llp and maples and calder (cayman) llp advised hmac on us and cayman islands laws, respectively.

raymond commented: “we are pleased to be involved in this landmark project for able view, the successful completion of the de-spac business combination and the listing of able view would enable able view to access funding more efficiently, and we look forward to seeing their future success as they expand further into the chinese beauty and personal care market.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands counsel to metaclass management elp, a cayman limited partnership, and its general partner, chizicheng strategy investment limited, in connection with the acquisition (the acquisition) of the entire issued share capital of chizicheng strategy investment by newborn town inc. (hk. 9911) (newborn town).

chizicheng strategy investment, our long-term client, was the general partner to metaclass management elp, which was set up for the purpose of privatisation of the previously nasdaq-listed bluecity holdings limited (bluecity). the harneys shanghai team previously advised the buyer consortium in the going-private transaction of bluecity. as the controlling shareholder of the buyer consortium in the abovementioned privatisation transaction, metaclass management elp became the controller of bluecity and all of its subsidiaries, including subsidiaries controlled by way of contractual arrangements, upon completion of the privatisation.

through the acquisition, newborn town became the sole shareholder of chizicheng strategy investment, thereby exercising full control over metaclass management elp, which in turn allowed for control of and consolidation of the financial statements of its subsidiaries, including bluecity and its subsidiaries.

newborn town, listed on the hong kong stock exchange, is a mobile internet company focussing on the global open social networking sector, and bluecity is a leading company in the global lbgtq social network. through leveraging the reputation of bluecity in the lgbtq community, newborn town hopes to further expand its global operations.

harneys shanghai corporate partner calamus huang led the team, supported by senior associate lily zhang. haiwen & partners (hong kong) and jingtian & gongcheng acted as counsel for hong kong and prc laws regarding the transaction, respectively.

commenting on the transaction, calamus said: "we are proud to provide our client with a wide range of legal services, from the establishment of the partnership to the completion of the privatisation transactions to the completion of the acquisition, demonstrating our team's expertise and capabilities in handling different types of complex transactions. our wish is to accompany our clients for the long term, grow and progress together.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange. the firm’s shanghai-based team allows china-based clients to easily access an award-winning range of offshore legal services and fiduciary services.

harneys has announced the signing of definitive agreements for the sale of its fiduciary business, harneys fiduciary, in a transaction backed by global private equity firm hillhouse. the final closing of the transaction is subject to the completion of the separation of the fiduciary business from harneys’ law firm business, certain business restructurings, and other customary closing conditions.

established in 1974, harneys fiduciary is a leading global offshore corporate services provider specialising in the provision of corporate administration, trust and fiduciary services in the british virgin islands, the cayman islands, hong kong, and singapore, among others. upon the closing of the transaction, the business will be led by existing harneys fiduciary ceo ross munro and chief commercial officer pia buchi.

ross munro, ceo of harneys fiduciary, said: “we are excited to partner with hillhouse as they share our values and vision for the business. their support and long-term investment will enable us to take the business to the next level and provides us with the capital and strategic resources to fulfil our ambitious growth plans.”

the sale will provide harneys with the means to invest in the strategic growth of the law firm, with a focus on innovation, including the development of new products, services, and investment in technology to enhance client service and delivery.

william peake, global managing partner of harneys, commented: “this transaction creates two people-focused, dynamic, and forward-looking businesses. it opens an exciting new chapter for the harneys law firm. after carefully reviewing our strategy as a firm, we fully believe that this step will mean we are better positioned to target growth and offer our clients even more innovative services and solutions. a unique element of this decision is that a significant portion of the sale proceeds will be reinvested back into the business through the creation of a harneys accelerator fund. this will enable us to invest in new technologies and products, explore new markets and generally optimise our business operations.”

hillhouse partner sean carney added: “we are impressed by the leadership team led by ross munro who have built a leading offshore corporate services provider. we look forward to a close strategic partnership with the harneys law firm following the closing.”

founded in 2005, hillhouse is a leading global private equity firm focused on building and investing in high quality companies across business services, healthcare, energy transition, industrials, and consumer to achieve long-term sustainable growth. hillhouse partners with exceptional entrepreneurs and management teams to create value from its offices in singapore, hong kong, beijing, london, and new york.

harneys were advised by pwc corporate finance and linklaters.

harneys acted as cayman islands counsel to endeavour united co. ltd. in relation to the successful closing of its eu fund iii l.p., a cayman islands exempted limited partnership buyout fund.

this is endeavour united’s first global fundraising attempt under a parallel fund structure set up by a cayman elp along with endeavour united iii investment business limited partnership, generating approximately jp¥53 billion of aggregate commitments.

founded in 2013, endeavour united is a tokyo-based buyout firm managing funds which target business succession, corporate carve-out, and special situations deals in japan’s lower middle market. it has a focus on the sectors of manufacturing, construction, retail/consumer services, and corporate services. at the core of its investment strategy, endeavour united aims to make value-oriented investments in companies with operational, transactional, or structural challenges and complexity.

yucheng fan, investment funds and regulatory partner, led the team, with support from senior associate cherrie wong and paralegal ada xie. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, also assisted with the transaction. simpson thacher & bartlett, mori hamada & matsumoto and rajah & tann singapore advised the client on us/international, japanese and singapore laws respectively.

yucheng commented: "it was a pleasure to advise endeavour united and work alongside the prominent teams at simpson thacher & bartlett, mori hamada & matsumoto and rajah & tann singapore. we wish endeavour united every success in its plans to add value, explore innovative solutions, and execute operational improvements across multiple key areas of its portfolio companies.”

endeavour united added: "we were delighted to have partnered with harneys on this transaction. there are still numerous unresolved challenges in japan, such as a lack of successors, needs for business developments, requirements of business portfolio restructurings and initiatives of esg, and we, as one of the oldest pe funds in japan, hope to address these challenges through our fund operation.”

harneys advises on all aspects of the life of cayman, bvi, cyprus, and luxembourg funds, including formation, restructuring, and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys is pleased to announce the appointment of juan pablo urrutia as a partner in its regulatory & tax practice group in the cayman islands. juan pablo joins the firm from another offshore law firm, where he held a senior role within its regulatory group.

with over two decades of experience providing legal advice to financial services firms, juan pablo has acted for buy and sell side clients, including a bulge bracket financial institution, an algorithmic financial technology broker, and one of the world's oldest sovereign wealth funds.

juan pablo brings with him vast knowledge of global financial regulations and policies. his experience includes providing counsel on a variety of cayman islands matters related to aml, beneficial ownership, compliance frameworks, data protection, economic substance, fatca/crs, financial crime, licensing, notifications, policies and procedures, regulatory approvals, regulatory due diligence and reviews, regulatory perimeter, and sanctions. his expertise also extends to platform/market infrastructure laws governing virtual asset providers, brokers, and banks.

the firm’s global head of regulatory & tax, aki corsoni-husain, commented: “we are delighted to welcome jp. his experience and expertise in advising on complicated regulatory issues make him an obvious choice for this role. we believe he will be a valuable addition to our growing global team who are experts in navigating international laws and regulations.”

harneys is committed to helping clients comply with the ever-changing international laws and regulations. the firm’s regulatory & tax practice group advises clients across all jurisdictions in which it operates in relation to all aspects of aml compliance and terrorist financing regimes as implemented locally, including advice on contentious and non-contentious matters. the firm assists with the law of suspicious transaction reporting, requirements for introduced business, and every aspect of the kyc process. its economic sanction practice advises on all aspects of sanctions law in the bvi, cayman islands, luxembourg, and cyprus. the firm also has significant experience advising on fatca and aeoi regimes.

harneys has been recognised as a top tier firm in this year’s chambers high net worth rankings, achieving band 1 for offshore trusts in the british virgin islands and band 2 in the cayman islands. this is the eighth consecutive year the firm has received these recognitions.

the firm, which has “absolute expertise in the topics they specialise in,” remains a popular choice for clients, with sources saying the team is “phenomenal to work with,” they are “practical, responsive, and spot on with their advice". a further source praised the team’s “amazing delivery and commercial thinking,” adding that “they find unique solutions for clients. they are responsive and take a commercial view to relationships.”

partner henry mander, who heads the firm’s global trust and private wealth practice, was ranked as band 1 in cayman. a source said he is “absolutely on the ball, he is extremely smart and comes up with very unique solutions”. he is further described as “knowledgeable and also very personable. he is very good with clients face to face, and he also has global awareness.”

partner charles moore was also ranked in the cayman guide and is recognised as "a class act in cayman, with great experience and a great manner with clients". sources also said he is "technically very able and very good at managing client expectations,” he is “a great trusts and private client lawyer.”

our private wealth team provides comprehensive advisory services to professional trustees, high net worth individuals and their families, financial institutions and charities covering the full spectrum of private client matters. the team work closely with their clients’ onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice. they ensure that the offshore element of a structure are fully suitable and sufficiently flexible to adapt and evolve to clients’ changing needs.

chambers high net worth ranks the leading and most dedicated lawyers and law firms for international private wealth management work. these extensive and market-leading recommendations, rankings and insights are based on an in-depth analysis of more than 55 countries around the world, including every major private wealth market.

harneys acted as cayman islands counsel to star plus legend holdings limited on its hong kong initial public offering, with an offering size of hk$538 million (approximately us$69 million). its shares were listed and commenced trading on 13 july 2023.

founded in 2017, star plus legend develops and sells health management products and skin care products, including the bulletproof coffee modong coffee, which is a drink made with high-fat content to help individuals boost their energy levels while dieting. it also operates the intellectual property creation and operation business, which involves creating reality shows and planning concerts and collaborates closely with taiwanese pop stars mr. jay chou, mr. harlem yu and mr. liu keng-hung.

partner raymond ng and senior legal manager denise chan led the harneys hong kong team. counsel henno boshoff from the singapore office provided support on trust-related matters. king & wood mallesons, han kun law offices, ellalan, and lcs & partners together acted as legal counsel to star plus legend, while jones day, chiu & partners, jingtian & gongcheng law firm, and beijing dentons law offices, llp, advised the sole sponsor and the underwriters.

raymond commented, “we have worked on the star plus ipo since 2020 and are delighted to have brought the project to a successful conclusion. continuing with our recent ipo trajectory with the likes of keep inc., laekna inc., and ysb inc., these closings highlight our equity capital markets expertise and our strong track record working with cutting-edge companies from different industry sectors.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands counsel to keep inc. on its hong kong initial public offering, with an offering size of hk$313 million (approximately us$40 million). its shares were listed and commenced trading on 12 july 2023.

founded in 2015, keep is a growing and result-oriented platform that provides users with a comprehensive fitness solution to help them achieve their fitness goals. backed by tencent, ggv capital, and softbank, it is the largest fitness platform in china in terms of monthly active users. it offers personalised fitness programs, sports apparel and devices, health food, and other wellbeing services.

counsel jessie xu led the harneys shanghai-based team, supported by partner calamus huang. skadden, arps, slate, meagher & flom llp provided hong kong and us legal advice, while commerce & finance law offices and global law office acted as prc counsel to keep. davis polk & wardwell llp and tian yuan law firm acted as hong kong and us counsel and prc counsel respectively to the sole sponsor and the underwriters.

this is the fifth hong kong ipo the team has closed in the past month and a half. the other recent ipos include those of cancer drug developer laekna inc., chinese digital pharmaceutical platform ysb inc., chinese pharma firm cutia therapeutics, and chinese it service provider edianyun limited.

jessie commented: “we are delighted to have advised keep inc. on their successful listing. through this venture, they aim to tap into china's vast fitness market and bring about a revolutionary change in the traditional offline fitness model.” calamus added: "we are grateful that clients from different industry sectors continuously place their trust in our team. our goal is to maintain this level of trust and recognition and assist even more clients in achieving their business objectives."

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands counsel to laekna inc. on its hong kong initial public offering, with an offering size of hk$790 million (approximately us$101 million). its shares were listed and commenced trading on 29 june 2023.

founded in 2016, laekna is a science-driven, clinical-stage biotechnology company. its drug discovery primarily focusses on identifying innovative immunology therapies for cancer and liver fibrosis, and it owns almost 180 patents and patent applications. funds raised will be used to advance the clinical development and approval of core products lae001 and lae002, both licensed from well-known swiss drug maker novartis, with the latter having gone through clinical trials with multinational drug giant glaxosmithkline.

counsel jessie xu led the harneys team based out of our shanghai office, supported by partner calamus huang. davis polk & wardwell llp provided hong kong and us legal advice and jingtian & gongcheng acted as prc counsel to laekna. cooley hk and commerce & finance law offices acted as hong kong and us counsel and prc counsel respectively to the sole sponsor and the underwriters.

the team closed three other hong kong ipos over the past month, including chinese it service provider edianyun limited in late may 2023, and chinese pharma firm cutia therapeutics in mid-june 2023 and chinese digital pharmaceutical platform ysb inc. earlier in the week.

jessie commented: “we are delighted to have acted for laekna on their ipo as they look to provide more effective, science-proven solutions to cancer patients, by working with other pharmaceutical industry leaders. we wish them every success in their upcoming business initiatives.”

calamus said: “this is the fourth successful hong kong listing our shanghai team has advised on over the past month. i am very proud of the team for this extraordinary achievement, which further strengthened our leading position in hong kong listings.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys acted as cayman islands counsel to ysb inc., a chinese digital pharmaceutical platform, on its hong kong initial public offering, with an offering size of hk$316 million (approximately us$40 million). its shares were listed and commenced trading on 28 june 2023.

founded in 2015 and backed by investments from leading chinese companies such as baidu and fosun pharma, ysb is an online pharmaceutical platform dedicated to producing quality medicines, which are easily accessible to the public. it aims to serve businesses in the out-of-hospital pharmaceutical market, including pharmaceutical companies, drug distributors, pharmacies, and primary care institutions.

the harneys team based in the law firm’s shanghai office was led by counsel jessie xu with support from partner calamus huang. skadden, arps, slate, meagher & flom llp provided hong kong and us legal advice and fangda partners acted as prc counsel to ysb. freshfields bruckhaus deringer and commerce & finance law offices advised the sole sponsor and the underwriters.

this is the third hong kong ipo closed by the team in the past four weeks. other ipos include chinese it service provider edianyun limited in late may 2023 and chinese pharmaceutical firm cutia therapeutics in mid-june 2023.

jessie commented, “we are pleased to have acted for ysb in this ipo as they actively embrace the trend of digitalisation in the pharmaceutical industry. we wish them every success in their upcoming business initiatives.” adding to that, calamus said, “the harneys team is pleased to have had the privilege of assisting ysb in its successful hong kong listing. we believe more companies from different sectors will opt for hong kong listings even during these challenging times.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys has been named best offshore law firm by china business law journal, for the fifth consecutive year. the firm was also recognised in two other categories: family wealth management and asset management.

the cblj awards are based on nominations from esteemed in-house counsel, corporate executives, and industry professionals.

commenting on the success, shanghai managing partner vicky lord said: “we are delighted to once again be recognised by china business law journal. our firm always strives for excellence in serving our clients, and winning these awards further highlights our commitment to professionalism, responsiveness, and client support."

the firm’s asia team has also been awarded other accolades this year including offshore law firm of the year and deal of the year awards at the asian legal business china law awards, iflr asia-pacific awards, and the asia legal awards. earlier in the year, china business law journal also presented ten deal of the year awards to the firm.

the harneys asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region. with over 70 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore, and shanghai represent one of the largest asia networks of any offshore law firm.

harneys cyprus advised singers capital markets advisory llp alongside pinsent masons llp on the cypriot law aspects of globe invest limited’s (globe invest) cash offer to acquire 100 per cent of the share capital of best of the best plc, listed in the aim of the london stock exchange, with an implied equity value of £33-million.

the harneys team was led by cyprus based partner george apostolou, alongside associate alexandros tsolias.

as the only international multi-jurisdictional law firm with a physical presence in cyprus, harneys provides unrivalled service to clients throughout the world, particularly for complex and cross-border disputes.

harneys acted as cayman islands counsel to cutia therapeutics on its hong kong initial public offering, with an offering size of hk$465 million (approximately us$59 million). its shares were listed and commenced trading 12 june 2023.

cutia therapeutics, founded in 2019, has operations across beijing, hong kong, shanghai, and wuxi. aiming to provide a comprehensive suite of safe and effective solutions for skin and scalp diseases, its catame® technology platform is at the forefront of its current research and development, continuously bringing out various self-developed, in-licensed products to the market.

the harneys team was led by shanghai counsel jessie xu with support from shanghai partner calamus huang. the firm’s associated corporate and private wealth services business, harneys fiduciary, acted as the registered office and principal share registrar for cutia therapeutics, providing the client with a seamless integrated service.

davis polk & wardwell provided hong kong and us legal advice and zhong lun law firm acted as prc counsel to cutia therapeutics. herbert smith freehills and cm law firm advised the sole sponsor and the underwriters.

commenting on the ipo, jessie said, “we are happy to have assisted cutia therapeutics in achieving this milestone. we wish them every success in their upcoming business initiatives.” calamus supplemented, “our recent successful ipos demonstrated our strong ability to deliver impactful work on tight deadlines by leveraging our quick responsiveness and flexible approach to deal with complex situations.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys continues to invest in the bvi community by offering an international scholarship programme, valued at up to us$30,000 per academic year, for up to four years. scholarships will be awarded once every two years to diligent young bvislanders/belongers who aspire to pursue a degree at a reputable university in a legal or business subject that could allow them to pursue a career at harneys.

the scholarship programme is dedicated to providing financial support to promising young people who demonstrate a commitment to academic and professional excellence. in addition to the financial support, there is an internship provision which grants the opportunity to be placed within one of the firm’s many jurisdictions around the world, allowing for further exposure to varying firm dynamics, international environments, creating a well-rounded student and, by extension, a working professional.

bvi managing partner tanya cassie-parker commented: "we are proud to support the next generation of bvi students and give them the tools they need to excel in their careers. we believe that investing in education is investing in the future of our community. with offices across the globe, we are recognised internationally as an export brand from the bvi and at our core, remain a bvi firm."

view the criteria for eligibility or submit your application here.

founded in 1960 and the first resident law practice in the bvi, harneys has a long and proud history of supporting young people and education in the bvi. harneys currently offers internships in its bvi office to secondary and tertiary students. the firm provides interns with an introduction to their practice/business area, as well as the practical application of how to think, write and operate effectively and efficiently in a professional environment. the firm is dedicated to continuing that important education to ensure interns are mentored and coached appropriately.

harneys believes in investing in local communities, whether through time, financial support, or expertise. this sense of commitment drives the firm to be caring and forward-looking in how it contributes to its communities as an organisation. the firm’s corporate social responsibility activities consist of four focus areas: helping the most vulnerable in its local communities, preserving the environment, promoting arts and culture, and investing in young people.

harneys acted as bvi legal counsel to sealsq corp, a bvi company, on its successful us listing. sealsq’s shares commenced trading under the ticker “laes” on the nasdaq global market on 24 may 2023. the sealsq team rang the opening bell on the exchange on 26 may.

sealsq is an international security solutions provider, specialising in semiconductor, pki, and post-quantum technology hardware and software. its post-quantum solutions include post-quantum microchips and devices that can be used in a variety of applications, from multi-factor authentication devices, home automation, and it network infrastructure, to automotive, industrial automation, and control system. sealsq was formerly a wholly owned subsidiary of wisekey international holdings ag. the deal proceeded via an innovative transaction which involved all wisekey shareholders receiving shares via a special dividend.

the harneys team was led by partner george weston with support from senior associate james kitching and associates charlotte allery, rhonda brown, and melissa thomas.

wisekey founder carlos moreira said: “we are incredibly proud to have reached the milestone of listing sealsq corp on the nasdaq. this could not have been achieved without the support of george, james and the harneys team, who accompanied us every step of the way with their constructive advice and comprehensive knowledge.”

george said: "we are delighted to have acted for sealsq on their successful listing and wish them every success in expanding their investor base across the us and worldwide. this transaction further highlights our equity capital markets expertise and our strong track record working with cutting-edge companies in the tech sector.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high-value private equity transactions, landmark ipos, and the full spectrum of public and private m&a and joint ventures.

harneys acted as cayman islands counsel to edianyun limited, a chinese it service provider, on its hong kong initial public offering, with an offering size of hk$597 million (approximately us$76 million). its shares were listed and commenced trading on 25 may 2023.

founded in 2014, edianyun is a major integrated office it solutions provider in china, dedicated to providing the ultimate office it services to small and medium-sized enterprises. since its inception, edianyun has been committed to delving into its core technology. its remanufacturing plant has over a hundred patented monograph technologies, which have enhanced its profitability by extending the lifespan of equipment from an average of three years to an average of seven to ten years under its superior technological strength, and its business robustness is second to none in the industry.

the harneys team was led by shanghai counsel jessie xu with support from shanghai partner calamus huang. clifford chance and shihui partners together advised edianyun. wilson sonsini goodrich & rosati and cm law firm provided hong kong and us legal advice and prc legal advice respectively to the sole sponsor and the underwriter.

calamus commented: “we extend our congratulations to edianyun on its successful ipo. with our significant track record in advising on overseas listings, as well as our deep understanding of chinese clients, we are committed to delivering exceptional services to our clients.”

jessie commented: “it was a privilege to be part of the journey with edianyun and all the professional parties and we see this ipo only as a step in a longer journey ahead with edianyun for its successful future.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys is pleased to announce winning offshore law firm of the year at the asian legal business china law awards. in addition, the firm was honoured to win the m&a deal of the year (midsize) award for its involvement in ganfeng lithium group's acquisition of lithea for us$962 million. the results were announced on 18 may at a ceremony attended by partners vicky lord, maggie kwok, calamus huang and raymond ng.

hosted by asian legal business, the prestigious china law awards pay tribute to the outstanding performance of private practitioners and in-house teams in china, recognising the most high-profile legal work in the region over the year.

vicky lord, shanghai managing partner, commented: “we are very pleased to be recognised by asian legal business. these awards are strong testaments to our continued dedication in striving for service excellence. thank you to our clients for the unwavering support.”

the firm also recently received offshore law firm of the year and deal of the year awards at the iflr asia-pacific awards and the asia legal awards.

the harneys asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region. with over 70 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore, and shanghai represent one of the largest asia networks of any offshore law firm.

harneys recently acted as british virgin islands counsel to vinanz limited on its successful listing on the aquis stock exchange. vinanz commenced trading on the aquis exchange on 21 april 2023.

vinanz aims to build a comprehensive bitcoin mining company with an initial focus on installing clusters of bitcoin miners within multiple facilities throughout the us and canada. vinanz plans to do this through the use of third-party cryptocurrency mining providers. on admission to the aquis exchange, vinanz acquired the bitcoin mining operations of valereum plc.

the harneys team was led by partner rachel graham and supported by associate robert van buuren, who worked closely with uk counsel, hill dickinson llp.

rachel commented: “we congratulate vinanz for completing its acquisition and achieving its listing on the aquis exchange, we have enjoyed working with the management team at vinanz and michael bennett and amy grosvenor from hill dickinson.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos, and the full spectrum of public and private m&a and joint ventures. the firm’s experienced spac practice group provides cayman and bvi incorporated vehicles with a comprehensive range of legal advice and fiduciary services from incorporation, through to listing, business combination, and beyond.

harneys is pleased to announce that partner paul sephton has been appointed managing partner of the firm’s hong kong office.

paul joined harneys in 2016 and heads the firm’s global banking & finance and corporate groups. he is highly regarded in his field and receives consistent recognition by major directories. paul advises leading onshore law firms, major international financial institutions, and listed and private companies. in his practice, paul specialises in debt finance advising on a range of financial products, including leveraged finance, margin lending, acquisition finance, pre-ipo finance, take-private transactions, bond issuances, convertible instruments, derivative transactions, property finance, and syndicated lending.

after taking on the role of asia managing partner in 2018, ian mann is stepping down and will continue to focus on his practice as a partner within the firm’s litigation, insolvency & restructuring team in hong kong.

global managing partner william peake commented: “paul has contributed greatly to our success within the hong kong market and is well positioned to continue to deliver our hong kong strategy. we are delighted he is taking on this role and wish him all the best.

ian has demonstrated great leadership and dedication during his tenure as asia managing partner. his commitment to excellence has helped elevate our firm's reputation in the region and we thank him for this.”

harneys hong kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance, and funds advice in english, mandarin, and cantonese. located in the heart of hong kong's financial district, harneys hong kong also provides fiduciary services.

harneys acted as bvi legal counsel to evokai creative labs inc. on the successful reverse takeover of sebastiani ventures corp., pursuant to a business combination agreement. after completion of the acquisition, evokai commenced trading on the tsx venture exchange on 14 april 2023.

evokai is a medtech ai-powered company dedicated to the development of transformational and innovative technologies for the modern healthcare sector. the company’s artificial intelligence-enhanced diagnostic profiles provide a solid basis to monitor mental wellbeing and enable advances in medical diagnoses.

the harneys team was led by bvi-based partner george weston with support from senior associate james kitching. the firm’s associated corporate and private wealth services business, harneys fiduciary, provided support from a north and latin american perspective. george said: "we are delighted to have acted for evokai and wish them every success in their quest to boost the awareness and utilisation of their advanced technology. this transaction further highlights our capabilities advising on both ecm transactions and complex m&a deals in the tech and healthcare sectors.”

cassels brock & blackwell llp acted as canadian counsel to evok ai.

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos, and the full spectrum of public and private m&a and joint ventures.

harneys acted as cayman islands counsel to jayud global logistics limited (jyd.us) on its successful us initial public offering. jayud’s shares commenced trading on nasdaq on 21 april 2023, marking an important milestone for the company.

jayud is one of china's leading end-to-end supply chain solution providers headquartered in shenzhen, focusing on cross-border logistics services. headquartered in shenzhen, thanks to its unique geographical advantages, jayud can provide customers with highly fast and convenient integrated logistics services for sea, air and land transportation.

partner calamus huang and counsel jessie xu advised the client. commenting on the ipo, calamus said, “we are honoured to act as the cayman legal advisor to jayud in relation to its successful listing on nasdaq. throughout the process, we worked closely with other professional advisors, in particular, dla piper acting as us counsel to the company, and successfully pushed forward its listing process. congratulations again to jayud on the completion of this landmark transaction.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, public and private m&a, and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

harneys recently acted as cyprus and luxembourg counsel to the national bank of greece (the lender) in relation to the successful financing of tethys securitization sàrl, in connection with the secondary acquisition of a non-performing loan portfolio.

the national bank of greece is a global banking and financial services company with its headquarters in athens, greece.

partner charl brand led the luxembourg team with assistance from counsel massimiliano della zonca and associate stefanos kapellidis.

partner charl brand commented: “we are delighted to have played a role in this transaction which showcased the seamless collaboration we have with, our cyprus and luxembourg colleagues.”

the firm’s banking and finance practice group has decades of experience in credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt, and enforcement of security, and derivatives. the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg, and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures.

harneys cyprus has retained its tier 1 rankings from legal 500 for its banking & finance and commercial, corporate and m&a practices, and tier 2 for its tax practice, for the sixth consecutive year.

the firm’s cyprus lawyers also continue to receive individual recognition for their respective practices. cyprus managing partner, pavlos aristodemou, remains in the hall of fame for banking & finance. partner nancy erotocritou and consultant demetris loizides are leading individuals, and partner sonia hamshaw and associate marisa efstathiou petevi are rising stars.

legal 500 noted: “under the leadership of pavlos aristodemou, harneys fields a first-rate team, which has considerable multi-jurisdictional financial transactional capabilities, and an excellent financial services regulatory team.”

pavlos commented: “we are delighted with this continued recognition from legal 500. i am proud of our team's dedicated efforts and commitment to providing exceptional service to our clients. their talent and hard work are the foundation of our success and we look forward to continuing to uphold a high standard of excellence in all that we do.”

harneys is frequently involved in complex international transactions and is often instructed as local counsel for large corporations dealing with high-level acquisitions. as a leading international multi-jurisdictional law firm with a physical presence in cyprus, the firm provides unrivalled service to clients throughout the world, particularly for complex and cross-border disputes.

harneys recently acted as legal counsel to maxpro capital acquisition corp in a business combination with late-stage clinical biopharmaceutical company, apollomics inc. through a reverse merger. apollomics’ class a ordinary shares and public warrants commenced trading on 30 march 2023, on the nasdaq capital market under the symbols "aplm" and "aplmw," respectively. apollomics agreed to acquire maxpro from mp one investment llc and others for approximately us$910 million in september 2022, pending shareholder approval.

apollomics’ mission is to improve treatment options for patients diagnosed with difficult-to-treat, high-mortality cancers. the financing raised in connection with the business combination provides access to capital that is expected to enable apollomics to advance its pipeline of drug candidates. the harneys team was led by bvi-based partner george weston im with support from associate melissa thomas. harneys acted on instructions from us firm nelson mullins.

george commented: “we are delighted to have acted as legal counsel to maxpro capital acquisition corp. as it expands its business and becomes a publicly traded company. this transaction shows our capabilities advising on complex deals, particularly in the healthcare sector."

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. the firm's experienced spac practice group provides with cayman and bvi incorporated vehicles with the full spectrum of legal advice and fiduciary services from incorporation, through to listing, business combination and beyond.

harneys is pleased to announce winning offshore law firm of the year at the asia legal awards. in addition, the firm received a tmt (technology, media, and telecom) deal of the year award for its involvement in the 51job take-private financing and a restructuring & insolvency deal of the year award for its involvement in the three arrows capital liquidation. the results were announced on 30 march at a ceremony attended by singapore managing partner, lishi fong; asia head of funds and regulatory, maggie kwok, global head of banking & finance and corporate, paul sephton; and partners jayesh chatlani and raymond ng.

hosted by law.com international, the asia legal awards honour the best work in the region and identify the most important transactions and cases with the most complex and outstanding legal work in asia.

paul commented: “we are delighted to take home these prestigious awards which recognise both our expertise and commitment to client service. it’s another nice moment for all the harneys asia team who work so hard to excel.”

recently, the firm has also been awarded offshore law firm of the year and deal of the year awards by iflr asia-pacific.

the harneys asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region. with over 70 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore, and shanghai represent one of the largest asia networks of any offshore law firm.

harneys has announced the promotion of 65 of its people globally. the promotions include seven directors, eleven senior associates, two associate directors, and two associates. these promotions are in addition to the four new partners and six new counsel following the firm’s annual senior legal promotions in january 2023.

harneys fiduciary has promoted theodoros assiotis, based in cyprus, to director and head of accounting services; virginia choy, based in shanghai, to business development director, katie claxton, based in the bvi, to fiduciary services support – director; russell drewe, based in cayman, to associate director, rodrigo loureiro, based in são paulo, to director; jeff ng, based in hong kong, to business development director; william peguero, based in cayman, to associate director; and darren wain, based in london, to it program director. in the firm’s marketing and business development department, kate mullan, based in the bvi, has been promoted to director - marketing & communications; and in the firm’s finance department, damien lonergan, based in cayman, has been promoted to head of financial planning & analysis.

the law firm’s eleven new senior associates are: marissa christodoulidou (corporate | cyprus); sanjev guna (litigation, insolvency & restructuring | hong kong); james kitching (corporate | bvi); elaine mcgriele (litigation, insolvency & restructuring | cayman); andré mckenzie (litigation, insolvency & restructuring | bvi); anna tam (litigation, insolvency & restructuring | singapore); catie wang (litigation & insolvency | cayman); cherrie wong (investment funds & corporate | hong kong).

other law firm promotions include: laura de heer (senior professional support lawyer | hong kong); yifan li (associate | shanghai); and katrine yang (associate | hong kong).

global managing partner william peake commented: “both personally and on behalf of the partnership, i would like to congratulate all of these individuals. these promotions recognise their dedication, hard work, and commitment to excellence. at harneys, we believe in cultivating talent from within by providing our people with exciting opportunities for growth and development. we look forward to continuing to recognise our people in this way.”

*the appointments of russell drewe, damien lonergan, elaine mcgriele, catie wang, and rhiannon zanetic are pending approval by cayman immigration authorities. the appointments of james kitching, andré mckenzie, and kate mullan are pending approval by bvi immigration authorities.

harneys is pleased to announce winning offshore law firm of the year at the iflr asia-pacific awards. in addition, the firm received a deal of the year award for its involvement in the 51job take-private financing. the results were announced on 22 march at a ceremony attended by the firm’s global head of banking & finance and corporate groups, paul sephton, and singapore managing partner, lishi fong.

paul commented, "we are delighted with the awards and the continued recognition of our asia team.” the awards recognise legal innovation in cross-border transactions. winners were determined using a variety of sources, including interviews with private practice lawyers, in-house counsel, and corporate finance professionals.

the harneys asia practice is known as one of the most dynamic and fastest-growing offshore legal teams in the region. with over 70 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore, and shanghai represent one of the largest asia networks of any offshore law firm.

sources say that the ”well-coordinated and efficient” team “has good commercial sense and is flexible in resolving issues”. the firm’s “skilled, reliable, and professional” lawyers are known for being “very responsive and available when [clients] need them”, and “they always help find solutions” tailored to the client's specific needs.

harneys “understands everything about funds, not only from a legal point of view, but also in terms of what is commercially best for the client” and “they have a strong litigation arm”.

the chambers global guide ranks the top lawyers and law firms in over 200 jurisdictions across the world.

they have recognised the following lawyers:

harneys is a global offshore law firm with entrepreneurial thinking. the firm's service is built around professionalism, personal service and rapid response. harneys has decades of experience providing offshore legal advice, having been established in the british virgin islands in 1960.

harneys is pleased to announce the closing of the initial public offering (ipo) of pono capital three, inc. for us$115 million dollars. the ipo was fully subscribed and the over-allotment option was exercised in full.

pono capital three inc. is a special purpose acquisition vehicle (spac) incorporated as a cayman islands exempted company. the company plans to focus on the consumer goods sector, targeting emerging growth companies in asia and the broader global consumer industry. this initial public offering proceeds will go towards building out its operations and aiding in its proposed acquisitions.

the harneys team was led by partner george weston.

george commented: "the successful completion of the initial public offering for pono capital three, inc., demonstrates our commitment to the spac product, and shows that even in an evolving market, new spacs are still coming to market. we are proud to have been part of this transaction and look forward to continuing our work with pono capital three, inc. in the future."

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. our experienced spac practice group provides with cayman and bvi incorporated vehicles with the full spectrum of legal advice and fiduciary services from incorporation, through to listing, business combination and beyond.

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.

henry mander, global head of trusts and private wealth, commented: “we are honoured to receive this recognition from citywealth. our highly skilled and dedicated global private wealth team is committed to delivering bespoke practical solutions across a multitude of sectors and jurisdictions to best suit each client’s individual needs.”

judged by an international panel of highly respected practitioners from all private wealth sectors, the awards highlight the excellence of advisers and managers in the private wealth sector. the winners are those judged to have excelled in achievement, innovation, expertise, and service.

the harneys private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and sufficiently flexible to adapt and evolve as those needs change.

launched in 2018, hashkey capital has managed over us$1 billion in client assets. its new fund will further advance crypto and blockchain initiatives worldwide, with a focus on emerging markets.

asia head of funds and regulatory maggie kwok led the team, with support from hong kong partner ian clark. maggie commented, “we are delighted to have leveraged our extensive funds and digital assets knowledge to support hashkey on its latest fund closing. we wish them every success in their endeavours to propel the industry forward into the next stage.”

harneys advises on all aspects of the life of cayman, bvi, cyprus, and luxembourg funds, including formation, restructuring, and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys hong kong is ranked as a top tier firm in the legal 500 2023 asia pacific guide. the “dynamic and fast growing offshore firm” is praised for providing “great strategic advice while executing on all aspects of complicated multi-jurisdictional offshore litigation”. furthermore, the firm is noted as “a market leader in crypto, blockchain and digital assets” and for its “seamless executing across time zones”.

six partners have been highlighted as leading individuals: julie engwirda, maggie kwok, ian mann, raymond ng, chai ridgers, and paul sephton.

in addition, partners ian clark, yucheng fan, and paula kay have been noted as key names to watch.

asia managing partner ian mann commented: “we would like to thank our clients and peers for providing their feedback to legal 500. being recognised as a top tier firm is an honour and a testament to our hardworking team who are committed to delivering best-in-class services to our clients.”

harneys hong kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in english, mandarin, and cantonese.

in addition, both singapore managing partner lishi fong and head of singapore litigation, insolvency and restructuring nicola roberts have been highlighted as leading individuals.

clients have said lishi is “brilliant at structuring and has great commercial acumen”, she is further described as a “stand out” for her work advising both financial institutions and corporations on a wide range of cross border transactions. “switched on” and “pragmatic”, nicola is praised for her proven success in handling complex cross-border disputes, including digital asset disputes relating to cryptocurrencies and blockchain technologies. clients also endorse nicola as “a great co-counsel” and “a pleasure to work with when in the trenches together”.

lishi commented: “we would like to thank our clients and peers for their support and trust in us. it is a testament to our stellar team who provide excellent client service. we are always ready and available to help our clients achieve their business goals.”

harneys singapore offers a full range of award-winning contentious and non-contentious offshore legal services, including corporate, banking, finance, investment funds, private wealth and trusts, litigation, insolvency and restructuring, and regulatory in english and mandarin.

harneys is pleased to announce firmwide promotions to partner and counsel, alongside leadership changes. all changes are effective 1 january 2023.

four lawyers from across the harneys offices have been promoted to partner:

gráinne king (litigation & insolvency | cayman), sonia hamshaw (corporate | cyprus), and jayesh chatlani (litigation & restructuring | singapore).

harneys has also promoted six senior associates to counsel:

victoria lissack (litigation & insolvency | bvi), anya allen (litigation, insolvency & restructuring | cayman), elina mantrali (regulatory & tax | cyprus), strachan gray (litigation, insolvency & restructuring | hong kong), and henno boshoff (private wealth & trust | singapore).

the start of the new year will also see significant leadership changes. following a transition period, william peake will begin his role as global managing partner, and ross munro will return to his previous role as ceo and chair of harneys fiduciary.

william commented: “both personally and on behalf of the partnership, i would like to congratulate all of these individuals. they have each contributed significantly to the success of harneys and i look forward to watching their continued development. these promotions complement our firm’s structure which enables our people to deliver outstanding client service while satisfying their own ambitions. i would like to wish them every success in their new roles.”

the appointments of gráinne king to partner, and anya allen to counsel are pending approval by cayman islands immigration authorities.

henry is a leading trust practitioner, with over 20 years of offshore and onshore experience in the international private client industry, and is the global head of harneys’ trusts and private wealth groups. he advises on all aspects of cayman and bvi trusts law and has particular expertise on international structures to hold high value operating businesses.

charles is a partner in the firm’s cayman islands private wealth team who specialises in both contentious and non-contentious international trust and private client related matters. he advises high net worth individuals and families in relation to the creation, restructuring, ongoing management and termination of cayman trusts. he is also experienced in representing trustees, beneficiaries, protectors, administrators and other office holders in relation to all manner of trust and estate applications and proceedings.

jessica is a partner in the firm’s litigation, insolvency & restructuring practice group in the cayman islands and is an experienced litigator. her practice focusses on insolvency and restructuring, trust and estate litigation, shareholder disputes, and asset tracing and enforcement. her clients include financial institutions, hnw individuals, insolvency practitioners, trustees, court appointed administrators, and other officeholders.

matthew is a member of the firm’s london office, specialising in bvi and cayman trust law, general private client, and estate planning matters. his clients include individuals and families, trust companies and family offices, as well as institutional clients such as banks.

henno is a member of the firm’s private wealth and trust practice and is based in the singapore office. he specialises in advising institutional trustees, wealthy families and private individuals on british virgin islands and cayman islands law aspects of trust and private client transactions.

the private client global elite directory was created with the awareness that referrals and recommendations are absolutely key to the private client sector. as such, each year, the private wealth community is invited to share their own recommendations of their top lawyers and advisors, after which nominees are narrowed down to see who makes it into the directory.

the harneys private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and also sufficiently flexible to adapt and evolve as those needs change.

gaush is a leading supplier of ophthalmic medical devices in mainland china. proceeds from the listing will be used to enhance the company’s research and development capability, accelerate the commercialisation of its patents, and upgrade its equipment product portfolio relating to ophthalmic diagnostic and screening.

the harneys team was led by shanghai corporate partner calamus huang and senior associate lily zhang with support from raymond ng, partner in the firm’s global banking & finance and corporate groups based in the hong kong office.

calamus commented: “we were pleased to advise gaush on its successful listing. we send our congratulations to the team and wish them every success in the market as they embark on a new journey to advance their success in the future.”

the firm’s associated corporate and private wealth services business, harneys fiduciary, acts as the registered office and principal share registrar for gaush, providing the client with a seamless integrated service.

tian yuan law firm llp, o’melveny & myers and commerce & finance law offices provided hong kong, us and prc legal advice to gaush respectively. sullivan & cromwell (hong kong) llp advised the joint sponsors and underwriters with regard to hong kong, and us laws, while jingtian & gongcheng advised the joint sponsors and underwriters with regard to prc laws.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

he takes over from ross munro, who returns to his previous role as ceo and chair of harneys fiduciary. william was elected unanimously and his appointment is effective from 1 january 2023.

william joined the firm in 2014 as a senior associate in the litigation, insolvency and restructuring group and was promoted to partner in 2017. he has built a market leading litigation practice from the firm’s london and cayman islands offices, most notably acting as the lead partner for the official liquidators of a cayman spv in relation to the us$9.2 billion saad litigation – the longest running and most high value case ever to come before the cayman islands grand court. william has been a member of harneys’ executive committee for the past three years and is actively involved in the firm’s justice, equality, diversity and inclusion initiative.

ross munro commented: “i am very pleased to be handing over this role to william. the entire partnership has the utmost confidence in his ability to drive the firm forward. we have worked together for many years and i know he will lead with courage, ambition, and energy. i am looking forward to re-engaging with harneys fiduciary to further develop that side of the business.”

william peake commented: “i am delighted to have been elected as the firm’s next global managing partner and i would like to thank my fellow partners for their trust in me. harneys is a dynamic and commercial firm, built on a supportive business, culture and technology framework. the firm’s structure enables our people to deliver outstanding client service while satisfying their own ambitions. i am looking forward to working with the entire harneys team to build on our successes and target further growth. my primary focus will be to continue to drive the firm’s reputation for innovation and delivery of excellent client service.”

“on behalf of the partnership, i would like to thank ross for his leadership and valued contribution. harneys is a firm with strong foundations that is well-placed to capitalise on market opportunities globally and this is testament to ross’s leadership during turbulent geopolitical and economic times.”

zibuyu is one of the largest cross-border e-commerce companies in china focussing on the sale of apparel and footwear products through third party e-commerce platforms. since starting out as a small online shop on taobao in 2011, the group has expanded its sales channels to platforms such as amazon and wish, as well as its self-operated online stores.

partner raymond ng led the harneys team with support from senior legal manager nicholas fong. raymond commented: “we were pleased to advise zibuyu on its successful listing and, prior to that, its various rounds of pre-ipo financing. we send our congratulations to the team and wish them every success in a market that is seeing a strong growth in consumers shifting from offline to online.”

tian yuan law firm llp provided hong kong legal advice to zibuyu and wilson sonsini goodrich & rosati provided hong kong legal advice to the joint sponsors, huatai financial holdings (hong kong) limited and abci capital limited.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

for the eleventh consecutive year, harneys has maintained its top tier status in the 2023 chambers uk rankings for its british virgin islands expertise.

according to sources, the firm’s “large and experienced team” is “up-to-date with what is happening in the commercial area and can be relied upon to guide and advise accordingly."

amongst the individual rankings were partners indira birkwood and rachel graham. partner william peake was also ranked for his cayman islands restructuring & insolvency expertise.

london managing partner, rachel graham, commented: “we are delighted to be consistently recognised by this market leading directory. our london team plays an integral part in the firm’s commitment to providing a top notch round the clock service to our clients.”

led by a senior team of experienced offshore lawyers and located in the heart of one of the world's largest financial centres, harneys london opened in 2002 and services a strong base of clients in the uk and throughout europe. the firm’s london lawyers provide a full range of offerings across all practice areas and specialisms, and continue to build on the firm’s first mover advantage.

rego is a china-based marketing service provider, principally engaged in the provision of marketing and promotional services for advertisers through both online and offline channels via large-scale media platform operators, virtual goods sourcing and delivery services, advertisement distribution services, and advertisement placement services.

partner raymond ng led the harneys team with support from senior legal manager denise chan. raymond commented: “we were delighted to advise rego on its successful listing which compliments its evolution in the advertising industry over recent years. we send our sincere congratulations to the team.”

the firm’s associated corporate and private wealth services business, harneys fiduciary, acts as the registered office and principal share registrar for rego, providing the client with a seamless integrated service.

ashurst provided hong kong legal advice to rego and chiu & partners provided hong kong legal advice to the sole sponsor, cmbc international capital limited.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

aiming to benefit from favourable price conditions for new economy metals and other mining materials, acg has raised us$125 million and will identify a target mine producing copper, nickel, cobalt or another metal. demand for these materials is expected to rise over the next decade because of demand for clean energy products and electric vehicles.

the harneys team was led by bvi based partner george weston, with support from associates james kitching, rhonda brown and melissa thomas.

george commented: “we would like to congratulate the acg team on this genuinely ground breaking listing. not only is it the first significant bvi incorporated spac to list in the uk in more than a decade, it is the first bvi spac to be listed under the regime introduced in the uk last year. we expect the deal to lead to even greater interest in the bvi’s position as a jurisdiction for spac incorporation for listings in the uk and globally”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. our experienced spac practice group provides cayman and bvi incorporated vehicles with the full spectrum of legal advice and fiduciary services from incorporation, through to listing, business combination and beyond.

harneys has advised maxpro capital acquisition corp., a special purpose acquisition company (spac) on its us$899 million definitive agreement for a business combination with late-stage clinical biopharmaceutical company, apollomics inc. if approved, apollomics will be publicly traded on nasdaq global market under the ticker symbol "apml”.

apollomics is an “innovative biotechnology company focussing on the discovery and development of oncology therapies with the potential to be combined with other treatment options to harness the immune system and target specific molecular pathways to inhibit cancer”. the transaction is predicted to close during early 2023.

the harneys team was led by bvi based partner george weston, with support from associate james kitching. harneys acted on instructions from us firm nelson mullins.

george commented: “we are delighted to have worked on this deal which further demonstrates our strength in the offshore spac sector.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. our experienced spac practice group provides with cayman and bvi incorporated vehicles with the full spectrum of legal advice and fiduciary services from incorporation, through to listing, business combination and beyond.

harneys is praised for being “the go-to firm for bvi work”, with a london team “staffed by lawyers who have lived and worked in the offshore jurisdictions in which they practice”.

amongst the individual rankings were partners indira birkwood, phillip kite, and william peake who are recognised as leading individuals. counsel matthew howson is listed as a rising star and newly promoted partner francesca gibbons was singled out for praise by clients.

london managing partner, rachel graham, commented: “we are delighted with the continued recognition by legal 500 of our dedicated team who provide high quality advice and round the clock service to our clients. i was particularly encouraged by our supportive and flattering client testimonials.”

harneys london is led by a senior team of experienced offshore lawyers providing a full range of services across all practice areas and specialisms. the harneys network is one of the largest among offshore law firms, with locations in major financial centres in europe, asia, the americas, and the caribbean, allowing the firm to provide services of the highest quality to clients in their own languages and time zones.

mtt group is a vertically integrated it solutions provider, principally engaged in the distribution of it products in hong kong and the provision of system integration solutions in hong kong, china, and macau, operating through two different trade names, namely tritech and multisoft, respectively.

partner raymond ng and senior legal manager nicholas fong led the harneys team. raymond commented: “we are delighted to advise mtt group, a business which began in 2006 with a ‘hong kong’ story, on its successful listing and send our sincere congratulations to the team.”

our associated corporate and private wealth services business, harneys fiduciary, acts as the registered office and principal share registrar for mtt group, providing our clients with a seamless integrated service.

bird & bird provided hong kong legal advice to mtt group and p. c. woo & co. provided hong kong legal advice to the sole sponsor, innovax capital limited.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

founded in 2014, ac ventures has a portfolio of over 120 investments in indonesia and the rest of southeast asia, noteworthy companies include xendit, carsome, stockbit, ula, shipper, and aruna. its team is mostly based in indonesia, but also recently set up offices in singapore and malaysia.

asia head of funds and regulatory maggie kwok led the team, with support from jacquelyn wong and ada xie from the harneys hong kong office. maggie commented, “we are delighted to have leveraged our extensive knowledge and track record in the investment funds and digital assets space, to support ac ventures in its futuristic endeavour to boost the digitisation of indonesia and the general southeast asia economy, as well as the growth of start-ups in those countries. at harneys, our innovative mindset allows us to help clients keep pace with the demands of a rapidly changing world.”

harneys advises on all aspects of the life of cayman, bvi, cyprus and luxembourg funds including formation, restructuring and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys is pleased to announce that redkite is the successful applicant in the harneys tech accelerator program 2022, securing as a reward up to us$25,000 in combined legal fees and trust company services from harneys and their associated business, harneys fiduciary, respectively.

redkite is a creative solutions provider with strong connections to the artist world. being artists themselves, they understand guidance needed for creatives to thrive in web3. their first product rk-x is a no code whitelabelled nft marketplace, which allows people to develop and sell nfts linked to physical or digital assets in a number of ways.

philip graham, global head of investment funds at harneys, commented: “we are committed to supporting the growth of start-ups and emerging companies, funds, and tech innovators and this program brought out some fascinating applications. redkite is an extremely interesting proposition and the team’s enthusiasm and drive was second to none. we are confident that the market will be receptive to their arrival and we are excited to be a part of their journey.”

a representative from redkite, added: “we are thrilled to be named as winners of the program. we would like to say a special thank you to philip graham and marc piano for their support on our journey so far. whilst crypto markets are unstable and the future utility of nft’s is developing on a daily basis, we are excited to be a part of this next phase by focussing on building the shopify for creators in web3.”

harneys would like to thank all the applicants for taking the time to organise and present their ideas. the panel of experts were impressed by the range of concepts presented throughout the program and are very much looking forward to the next edition of the program.

marc piano is no longer with harneys. he now works at horizons global, an h3 verified service provider.

harneys has advised nasdaq listed fat projects acquisition corporation on its proposed business combination with avanseus holdings pte. ltd for an enterprise value of us$135.7 million. avanseus, a technology and software innovator, and fat projects, a cayman incorporated special purpose acquisition company (spac), agreed terms and signed a business combination agreement on 26 august 2022.

avanseus considers that this combination offers the potential for a "once in a decade" disruption in the fabric of technology infrastructures across multiple domains: cloud-based architectures will be largely self-healing and will provide flexibility for cloud native applications to be deployed and updated automatically and securely. avanseus aims at leveraging such disruption opportunity by combining its artificial intelligence-based proprietary algorithms, its cloud native software foundation, and its deep understanding of networks to deliver software capabilities and functionalities that will augment human operations, improve the performance of technology infrastructures, and help to reduce the energy cost of running such infrastructures.

harneys acted on instructions from us firm nelson mullins riley & scarborough llp with pinsent masons mpillay llp acting as singapore counsel. lucosky brookman llp and eng and co. llc are serving as u.s. and singapore legal counsel to avanseus respectively.

the harneys team was led by partner george weston with support from partners phil graham and christopher hall, and associate james kitching.

george commented: “we are delighted to have worked on this deal and continue to support the spac space, working once again with a fantastic team at nelson mullins. the deal highlights the public m&a and equity capital markets expertise we have across our teams in cayman and the bvi.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures.

the buyer consortium consists of metaclass management elp, mr baoli ma, founder of bluecity, and the cdh entities that established and control multelements limited (parent) and diversefuture limited (merger sub). upon the closing of the going-private transaction on 12 august 2022, bluecity continues to exist as the surviving entity with parent becoming the sole shareholder of bluecity.

the going-private transaction was led by harneys shanghai corporate partner calamus huang, with full support from counsel jessie xu, and senior associate lily zhang also provided assistance. simpson thacher & bartlett llp and skadden arps, slate, meagher & flom llp acted as us counsel to the buyer consortium and the special committee of bluecity respectively.

in addition to advising the buyer consortium on the going-private transaction, the firm’s shanghai team also provided legal services on the fund formation matter with respect to metaclass management elp, a cayman private equity fund, which is the controlling shareholder of parent. newborntown (hk. 9911), china’s largest social networking product developer targeting on global markets, is one of the limited partners of metaclass management elp.

this fund formation matter was also led by calamus, with support from senior associate lawrence sham of the firm's shanghai funds team, as well as trainee bing hwang and paralegal lexie zhao.

the firm’s associated corporate and private wealth services business, harneys fiduciary, assisted with the setting up of various entities including the partnership, the general partner, parent and merger sub and the relevant filings in connection with the going-private transaction.

it is also notable that harneys shanghai litigation team provided strategic legal advice to the buyer consortium and bluecity with respect to dissenting shareholders’ requests.

calamus commented: “we are delighted to have provided the client with the coherent and comprehensive offshore legal services, from the launch of the fund to the closing of the going-private transaction, showcasing our corporate and investment funds team’s capabilities in handling complex and versatile transactions. we also worked closely with our fiduciary and litigation teams, which once again evidences harneys’ capabilities in providing one-stop shop services to our clients.”

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos (including spac and de-spac), as well as public and private m&a (including going-privates, takeovers and spin-offs) and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange.

the investment funds team at harneys advises on all aspects of the life of a bvi, cayman, cyprus, or luxembourg fund including formation, restructuring, and closure, both in distressed and planned scenarios. the funds lawyers sit side-by-side with the funds team from the firm's associated funds services business allowing it to provide integrated legal and administrative support to its funds clients. harneys has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

the firm’s shanghai-based team allows china-based clients to easily access an award-winning range of offshore legal services and fiduciary services.

linmon media offers popular drama series and video-based content to top online platforms and major tv channels; recent shows include “a little dilemma” and “nothing but thirty”. funds raised from the listing will be used for content production, recruitment of writers, marketing activities, investments, and acquisitions, as well as working capital.

the harneys team was led by shanghai counsel jessie xu with support from shanghai partner calamus huang.

jessie commented: “we are delighted to have advised linmon media on their hong kong ipo; we extend our sincere congratulations on their successful listing and we wish them well with their exciting growth plans.”

clifford chance provided hong kong and us legal advice and cm law firm provided prc legal advice. herbert smith freehills and jingtian & gongcheng provided hong kong and prc legal advice to the joint sponsors and underwriters.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the team’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange, and the luxembourg stock exchange. the firm’s shanghai-based team allows china-based clients to easily access an award-winning range of offshore legal services and fiduciary services.

harneys is pleased to announce that it has won securities deal of the year: debt at the asia legal awards 2022 for its involvement in kaisa’s us$3 billion new notes offering. results were announced at a ceremony in hong kong.

partner russell willings led the team with support from the firm’s bvi managing partner tanya cassie-parker.

russell commented: “we are delighted to have won this award, though the real credit for getting these deals across the line obviously goes to the kaisa team and to the teams at the finance parties and trustees and to their lead counsel at sidley austin, linklaters and mayer brown. it’s satisfying to know that cayman and bvi retain a key role in international financing transactions such as these and we pride ourselves on ensuring the legal issues are dealt with as seamlessly as possible allowing the principals to concentrate on the commercial aspects of the deals. it is always a pleasure to assist the kaisa team, with whom we have worked for well over a decade.”

the awards identify and honour the most important transactions and cases with the most complex and outstanding legal work in asia.

the banking & finance team at harneys has decades of experience advising on bvi legal issues relating to debt finance including bilateral and syndicated loans, note and bond issues, project finance, aircraft financing, ship financing, property financing, and lease finance. the team is regularly instructed on multi-billion-dollar debt finance transactions by leading financial institutions and corporates.

harneys provided bvi, cayman, and anguilla law advice to interpath, a major advisory firm, in regards to its acquisition of offshore insolvency practice kalo caribbean, a restructuring, insolvency and advisory firm with operations in all three jurisdictions.

the acquisition will see kalo caribbean ceo gordon macrae, along with managing directors charlotte caulfield, elizabeth mackay and paul pretlove, coupled with its team of more than 30 experienced professionals spanning two distinct offices, join interpath to bolster the reach and strength of interpath’s international advisory offering.

partner george weston stated: “we are absolutely delighted to have advised interpath on this exciting m&a deal, and we congratulate both them and the former kalo team on its successful closing. we look forward to working with the combined firm across the caribbean.”

the harneys team that advised interpath included partner george weston, and associates majdi beji and james kitching. their advice covered corporate, regulatory and local business law issues across the jurisdictions in which kalo operates.

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the firm’s significant track-record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

a leading chinese intelligent data company, ti cloud, turned to harneys shanghai team, led by corporate counsel jessie xu, for cayman islands advice, working with cyl & partners in association with cooley hk and commerce & finance law in their hk ipo.

paul hastings and cm law firm provided hong kong and prc legal advice to sole sponsor cicc and the underwriters.

jessie commented: “we are pleased to have advised ti cloud on its hong kong ipo and we offer our congratulations on its successful listing.”

partners calamus huang (shanghai) and raymond ng (hong kong) supported the deal, and calamus added: “hong kong is changing to make itself a more attractive ipo venue to new technology companies and beyond and we are optimistic that more and more companies may choose hong kong in the future. with our established track record, we are well placed to advise clients on their ipo endeavours.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

following (i) the completion of the mergers that result in naas becoming a wholly owned subsidiary of rise pursuant to a definitive merger agreement between rise and naas and (ii) rise’s name change to naas technology inc. in june 2022, rise continues to be listed on nasdaq. naas technology has a vision of powering the world with carbon neutral energy and has 290,000 charging stations in 288 chinese cities, with over 200,000 that are fast charging, which accounts for 51 per cent of china’s fast charging piles.

the harneys team was led by hong kong senior legal manager nicholas fong with support from partner raymond ng.

raymond commented: “naas is our longstanding client and we are pleased to have supported naas on this landmark transaction that helps to drive carbon neutrality and esg projects forward in china.”

skadden, arps, slate, meagher & flom llp served as us legal counsel to naas, while kirkland & ellis llp served as us legal counsel to the audit committee of the board of directors of rise. china international capital corporation hong kong securities limited acted as the financial advisor to naas.

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience in all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, the shanghai stock exchange and the luxembourg stock exchange.

on 1 may 2022, structure financial commenced its participation in the british virgin islands regulatory sandbox, the second successful applicant approved by the bvi financial services commission to date. structure.fi is a global financial platform, which offers its mainstream audience mobile-first personal finance tools capable of transacting seamlessly across all asset classes. founded in 2021, structure.fi raised us$20 million from polychain capital and others to enable mainstream investors and traders to access defi opportunities, cryptocurrencies and traditional investment opportunities via a single mobile-first, user-friendly interface.

structure.fi fits nicely within the category of technology innovation the bvi is seeking to encourage with its new framework and will offer its clients the ability to invest in tokenized stocks, options, cryptocurrencies and etfs, 24 hours a day with zero commissions. moreover, unlike platforms that require investors to execute multiple swaps to make their desired exchanges, structure.fi’s users will be able to trade directly between any pair of assets in a single execution, and make and receive payments in the tokens of their choosing. structure.fi is opening the product to a growing number of participants; obtaining real time feedback from users in order to bring a product to market that fulfils their commitment to create a platform that works for the broadest range of potential investors.

the harneys team led the transaction in its entirety and secured approval by the bvi fsc in early 2022.

the bvi regulatory sandbox was introduced in august 2020 by the bvi fsc with the core objectives of ensuring alignment between regulation and innovation, providing a testing environment, protecting market participants, and encouraging innovation through new business models participating in the jurisdiction. this tailored and focussed supervisory framework allows qualifying applicants to be able to test financial technology through the use of bvi companies. this removes the complexity of implementing existing regulatory framework whilst in a test phase but, importantly, has the supervision of the regulator to ensure good governance and appropriate regulation during the period

as the bvi pivots into this new and exciting direction to embrace and regulate the fintech and crypto-currency industry, harneys continues to assist their digitally focussed clients, who have made the bvi their jurisdiction of choice. harneys is a leading bvi firm advising on all aspects of the digital assets offering. their regulatory and corporate teams are poised to handle the wide spectrum of workflow including utility token issues, nfts, crypto exchanges, tokenised debt and tokenised security offerings, safts, service agreements, compliance, and sandboxing advice, amongst others. harneys provides this advice against the backdrop of existing securities legislation, money services regulations, aml regulations, guidance from the fsc on the regulation of virtual assets in the bvi and the impending virtual asset service providers legislation, expected to come into force by the end of 2022.

harneys provided bvi law advice to bmr energy ltd. on closing the second tranche of its us$88 million credit facility with cibc firstcaribbean international bank (fcib) and national commercial bank jamaica limited as joint lenders and fcib as lead arranger.

bmr energy is a developer and owner of renewable energy assets in the caribbean and central america and is a business segment of virgin investments.

the harneys team comprised josh mangeot.

harneys' banking and finance lawyers have decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt, and enforcement of security and derivatives. the team is regularly instructed in respect of multi-billion dollar debt finance transactions involving top international banks. their areas of speciality include trade finance law, debt restructuring, property and acquisition finance, development finance, international debt issues, and derivatives transactions.

“i’m delighted that we have been named "best offshore law firm" by china business law journal, as well as being recognised for our work in family wealth management and structured finance and securitisation,” said vicky lord, harneys’ shanghai managing partner. “these awards really reflect the incredible teamwork, client focus and positive attitude of our people in china, who continue to deliver despite the challenges posed.”

harneys is the only offshore law firm licensed to practice in mainland china through its shanghai office with a full service legal team on the ground. harneys’ teams in shanghai, hong kong and singapore regularly advise on the most high-profile cross-border transactions, litigation, arbitration and restructuring involving the laws of the bvi, cayman islands, luxembourg and cyprus.

zhong yang is a fast-growing online brokerage firm in hong kong focusing on trading local and overseas equities, futures, options products and other financial services. it licenses its trading platforms from third parties, allowing investors to place trades on more than 100 futures products on multiple exchanges globally. proceeds from the offering will help support its local and international businesses by connecting with top contract for difference (“cfd”) liquidity providers, obtain licenses in other regulated securities in new zealand and australia, optimise its sales network, upgrade its it infrastructure, and for working capital and other general corporate purposes.

hong kong corporate partner raymond ng and senior associate annie liu together advised the client. raymond mentioned, “we are delighted to witness the nasdaq listing of our client zhong yang, paving way for its further development in both hong kong and other foreign markets, and help to continue attracting high volume and frequency trading institutional and individual investors in asia.”

the corporate team at harneys has substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

the acquired portfolio is strategically located in the western and central economic and transportation hubs in the mainland. it consists of six premium logistics real estate properties with an aggregate gross leasable area of approximately 531,000 square meters, spanning across five completed projects, an ongoing project and a land parcel to be developed, which are part of the infrastructure, logistics, and transport services unit of new world development. nws expects that this acquisition will form the basis of its further expansion in the logistics industry in china and resonates with its vision in achieving long-term sustainable growth by seizing opportunities with strong cash flow and value accretion potential.

as instructed by eversheds & sutherland, the harneys team, consisting of hong kong corporate partner raymond ng and senior legal manager nicholas fong, provided legal advice. commenting on the deal, raymond noted that, “we are delighted to have supported our client nws in expanding their logistics footprint in mainland china. under the recently thriving e-commerce developments and booming multi-modal transportations, we are optimistic about customer demands in the area and are committed to providing first-class services to our clients as always.”

the corporate team at harneys has substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

aura fat projects acquisition corp, a special purpose acquisition company (spac) co-sponsored by singapore-headquartered aura group and fat projects, announced that it has raised us$115 million in its initial public offering (ipo) on the nasdaq global market. the spac will focus on new emerging technology companies with growth potential in southeast asia and australia, in sectors such as blockchain, cryptocurrency, digital ledger, e-gaming, and other new fintech and services sectors. harneys advised the spac, which is incorporated in the cayman islands on both bvi and cayman islands matters, and acted on instructions from us firm nelson mullins.

the harneys team was led by partner george weston, and included partners christopher hall and phillip graham, and associate james kitching.

george said: “we are very pleased to have worked on this deal and further strengthened our track record in the offshore spac sector. we congratulate aura fat projects acquisition corp on its successful listing.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.”

the london office is led by a senior team of experienced offshore lawyers who advise a wide range of clients in the uk and throughout the emea region on the laws of anguilla, bermuda, bvi and cayman.

london managing partner rachel graham commented: “i am delighted to be celebrating this important milestone with my colleagues. the london office is an important hub for harneys, not only bridging the time zone between our asia and caribbean offices but playing an integral part in continuing to provide top notch legal and related fiduciary services to our clients.”

harneys is a global offshore law firm that provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda, anguilla, and jersey law to an international client base which includes the world’s top law firms, financial institutions, and investment funds, as well as high net worth individuals. harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world, delivering bespoke solutions for corporate, investment fund, and private clients.

altibbi is a middle eastern and north african digital health platform founded in jordan and headquartered in dubai that has been in operation since 2008. the goal of the platform is to provide accurate and reliable medical information to users in the region in arabic.

the harneys team was led by bvi corporate partner george weston with support from bvi corporate associate james kitching. harneys acted on instructions from latham & watkins.

george commented: “we are pleased to have supported altibbi with their successful round of funding and we look forward to seeing them go from strength to strength. altibbi’s choice of the bvi as a jurisdiction highlights its attractiveness to start ups and high growth companies due to its flexible corporate laws”

the corporate team at harneys advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg, and cyprus corporate vehicles. the firm’s significant track-record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

like many chinese companies listed in the us, ke holdings adopted the weighted voting rights structure. harneys previously assisted xpeng with its dual primary listings on the nyse and the hkse, which is the first company with weighted voting rights structure that has been dual primarily listed in the us and hong kong.

the harneys team was led by shanghai corporate partner calamus huang, supported by counsel jessie xu. shanghai managing partner vicky lord also provided support on certain deal specific issues. calamus commented: “we are pleased to have assisted with beike’s successful dual primary listing in hong kong. the hkse’s permission for listed companies to adopt a weighted voting rights structure removed one of the major hurdles for many chinese companies listed in the us to return to hong kong. since the landmark dual primary listing of xpeng in hong kong in 2021, we have been seeing more and more companies with weighted voting rights structure seek to be dual primarily listed in hong kong, among which, beike is one of the most remarkable listings.”

freshfields bruckhaus deringer acted as legal advisers to beike as to hong kong law, skadden, arps, slate, meagher & flom llp as to us law and han kun law offices as to prc law. davis polk & wardwell acted as hong kong counsel and jingtian & gongcheng acted as prc counsel respectively to goldman sachs asia l.l.c. and china international capital corporation hong kong securities limited acting as the joint sponsors.

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hkse, shanghai stock exchange, and the luxembourg stock exchange.

headquartered in beijing, ch-auto specialises in electric vehicle manufacturing, automotive design service and automotive parts manufacturing. it is a design service provider to major mainstream chinese auto brands such as geely, chery, faw and gac. its wholly-owned subsidiary qiantu motor launched in production qiantu k50 china’s first all-electric urban super sports car in 2018.

the harneys team was led by shanghai corporate partner calamus huang, supported by senior associate lily zhang.

calamus commented: “we are delighted to have assisted our client in successfully signing the transaction. we are honoured to be the trusted offshore legal counsel to clients in complex transactions like this one.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

harneys acted as cayman islands counsel to luckin coffee inc. (“luckin coffee”) in connection with provisional liquidation proceedings in the cayman islands and the holistic restructuring of luckin coffee’s liabilities, including:

• the restructuring of new york law governed us$460 million 0.75% convertible senior notes due 2025 by way of a scheme of arrangement in the cayman islands; and
• a us$175 million settlement of a u.s. federal class action commenced by certain purchasers of the company’s nasdaq listed american depositary receipts.

harneys were engaged in the early stages of the matter, advising on the regulatory investigations in relation to the fraud of former management as well as negotiating the terms of the restructuring and managing its implementation. harneys worked seamlessly with luckin coffee’s suite of international advisors, including houlihan lokey and davis polk, in relation to all offshore aspects of negotiations with various stakeholders and third parties, including (i) the u.s. securities and exchange commission, (ii) the state administration of foreign exchange in the prc, (iii) third party investors, (iv) an ad hoc group of note holders, and (v) multiple shareholder claimants.

this was an innovative and complex restructuring given that luckin coffee was balance-sheet solvent, but had difficulties around repayment due to illiquid onshore assets and foreign exchange restrictions in the prc preventing the transfer of sufficient funds offshore.

the harneys team was led in asia by chai ridgers, head of our global restructuring practice and by nick hoffman, managing partner and head of our cayman litigation, insolvency and restructuring team, with support from partners matt taber and jayson woods, senior associate anya allen, and hong kong banking & finance and corporate teams led, respectively, by partners paul sephton and raymond ng, who were supported by senior legal manager nicholas fong and senior associate oswald kan. mirza manraj, counsel and head of asia regulatory practice, advised in relation to the financial crime and regulatory investigation matters.

harneys has been at the forefront of the development and implementation of offshore jurisprudence in the field of restructuring and insolvency for decades and our restructuring and insolvency practice leads the offshore market in both global reach and expertise, having acted in most of the largest and most complex cross-border restructurings and insolvencies of recent times.

harneys partner and head of the firm’s singapore litigation, insolvency, and restructuring practice, nicola roberts, is the sole practitioner of harneys (jersey).

jersey is a leading international finance centre recognised for its political and economic stability and robust regulatory framework.

offering a clear, tax neutral environment, jersey allows investors to work together more efficiently. the jurisdiction’s financial regulator has developed excellent regulatory cooperation with its eu counterparts.

for jersey legal advice, nicola can be contacted at nicola.roberts@harneys.je.

on 29 april 2022, a global energy-saving bitcoin mining operator and a clean-tech company that integrates bitcoin mining, heating and power industries, saitech limited (saitech) and tradeup global corporation, a publicly traded special purpose acquisition company (spac) completed their “de-spac” business combination. the transaction values the company, which generated revenue of approximately us$8 million in the first half of 2021 of us$188 million. harneys acted as bvi and cayman counsel to saitech on instructions from winston & strawn.

saitech focusses on lower-impact energy usage to promote the clean evolution of bitcoin mining. the company expects to use the proceeds from the transaction to invest in saitech's growth initiatives and recycled energy technologies, including expanding the current mining data centre operation capacity, deploying more chip heating data centre sites and exploring new mining operation sites globally, and to provide additional working capital in addition to covering transaction-related costs. estimated cash proceeds to saitech from the transaction are expected to consist of tradeup global's us$44.9 million of cash in trust (assuming no redemptions). in connection with the closing of the transaction, tradeup global will change its name to sai.tech global corporation and the class a ordinary shares and warrants of sai.tech global corporation will commence trading on the nasdaq stock market on may 2, 2022, under the new ticker symbols, "sai" and "saitw," respectively.

the harneys team was led by partner george weston with support from partner christopher hall, and associate melissa thomas.

george commented: “we are very happy to have worked on this transaction with a fantastic team at saitech and winston. we wish sai.tech global corporation the best of success as a cayman incorporated nasdaq listed entity. m&a and ecm activity in the tech sector has been extremely high in the last year, with spacs playing a significant role.”

harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the ecm practice’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange, all of which have issuers who frequently use offshore structures as part of their capital raising.

cyprus managing partner pavlos aristodemou continues the positive trajectory of being recognised in the hall of fame for banking and finance. partner nancy erotocritou and consultant demetris loizides were ranked as leading individuals in their respective practices. counsel sonia hamshaw and associate marisa efstathiou petevi were mentioned as rising stars in their areas of expertise.

clients also highlighted partner aki corsoni-husain as an “amazing team leader” who is able to drive “good team work”, and partner nancy erotocritou who possesses “impressive knowledge of public m&a and capital market matters”. counsel valentina hadjisoteriou was noted for “the ability to find structuring and creative solutions”.

commenting on these recognitions, pavlos noted: “we are proud to be recognised once again for our best-in-class service and we are confident that our teams will continue keeping up the conscientious efforts in answering our clients’ specific needs.”

as a leading international multi-jurisdictional law firm with a physical presence in cyprus, harneys cyprus sets a precedent of unrivalled professionalism to its clients around the world.

waystone is a leading institutional provider of services to the asset management industry, with assets under management in excess of us$1 trillion.

the harneys team was led by cayman islands based partner matt taber. matt commented: “we were really pleased to continue to work for waystone and to have assisted in this acquisition. for over a decade, our cayman office has provided a full range of commercial legal services. deals like this are testament to the faith that clients have in our expertise.”

the corporate lawyers at harneys have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate.

tanya is the managing partner of the bvi office and is recognised in the guide for the second consecutive year. she has a top tier practice and advises clients on various forms of corporate finance, including bilateral and syndicated loans, bond issues, project finance, property financing, lease finance and general aspects of banking and finance law. her client base primarily consists of leading financial institutions and law firms as well as leading property and fashion conglomerates.

nancy is a partner and leads the cyprus office’s transactional team. with cross-sectional expertise across banking and finance and capital markets, she regularly advises listed companies and international banking institutions in corporate matters, project and asset finance transactions and security structures. nancy manages large-scale projects with extensive experience in high-stake restructurings and major disposals and acquisitions. she has been named in the list for three consecutive years.

michelle is a partner in our banking and finance practice group. her client base includes onshore law firms, banks and other financial institutions, family offices, funds and corporates for which she regularly provides legal advice and support on bvi and anguilla finance and corporate matters. she has worked on various complex and high-profile finance transactions and has extensive expertise in property and project finance transactions in asia and europe. michelle sits on the virgin islands general legal council.

maggie is a partner in the hong kong office and leads the asia funds and regulatory practice group. maggie's practice has a particular focus on formation, structuring and maintenance of various types of open ended and close ended funds including hedge funds, private equity funds, and cryptocurrency funds. maggie's fluency in the chinese language and familiarity with both the western and chinese business etiquette and culture together make her one of the top ten offshore lawyers in asia.

global managing partner ross munro commented, “it is to my delight that tanya, nancy, michelle, and maggie are recognised in iflr1000’s 2022 women leaders guide. each one of them is outstanding in their field and an exemplary role model.”

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service and rapid response. open, progressive and personable, the firm provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law to an international client base which includes the world’s top law firms, financial institutions, investment funds and private individuals. the firm’s network is one of the largest among offshore law firms, with locations in major financial centres across europe, asia, the americas and the caribbean, allowing harneys to provide services of the highest quality to clients in their own languages and time zones.

the list highlights offshore practitioners who have successfully handled significant cases and exceeded client expectations in the process. lawyers were selected based on their case portfolio, client recommendations, and feedback from the market.

phil is the global head of our investment funds and regulatory groups and head of the transactional team in the british virgin islands. with over 15 years’ of experience advising all types of fund vehicles, he is a trusted advisor for offshore investment funds, including pre-formation strategy, regulatory compliance and restructuring.

ian is our asia managing partner and he specialises in restructuring, insolvency, shareholder disputes, and contentious trusts. he is an experienced advocate and also a board director and fellow of insol international as well as a qualified trusts and estates practitioner.

raymond is co-head of our global banking & finance and corporate groups. he advises clients on corporate deals including mergers and acquisitions, private and public equity and debt offerings, spac transactions, pre-ipo financings, joint ventures and cross-border transactions.

chai leads our restructuring practice in asia and specialises in cross-border restructurings, insolvency and workouts of distressed companies. he advises financial institutions, insolvency office holders, creditors’ committees, private equity sponsors, hedge funds, debtor-in-possession loan providers and corporate debtors.

paul is co-head of our global banking & finance and corporate groups and head of our transactional team in asia. he advises onshore firms, international financial institutions and listed and private companies on areas such as leveraged finance, margin and syndicated lending, take-private and acquisitions, bonds and derivatives and property finance.

ian comments, “we are pleased to be named in the list as this recognises our ability to handle complicated, large-scale, cross-border transactions for our many clients around the world. thank you to all clients and professionals who have nominated us."

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency and asset recovery are core areas of specialisation, with teams spanning the bvi, cayman islands, luxembourg, london, hong kong, shanghai, singapore and cyprus. the firm provides clear, timely and innovative solutions for clients in complex multi-jurisdictional disputes.

pavlos aristodemou, the managing partner of harneys cyprus is accredited for the impeccable work on “cross-border restructurings, concession projects and regulatory issues”. their leading international transaction partner nancy erotocritou is distinguished “for being highly experienced in acting on acquisition finance and syndicate lending on behalf of sponsors and lenders”.

pavlos commented: “we are delighted to be continuously recognised and listed highly by our clients and chambers europe. it is a testament to the cyprus team’s world-class expertise and excellent professional client services.”

as a leading international multi-jurisdictional law firm with a physical presence in cyprus, harneys cyprus sets a precedent of unrivalled professionalism to its clients around the world.

harneys is pleased to announce the promotion of 37 of its people globally. the promotions include three directors, four senior associates, and four senior legal managers. these promotions are in addition to the seven new partners and three new counsel following the firm’s annual senior legal promotions in january 2022.

harneys fiduciary has promoted amy roost, based in london, to managing director of client services and katie claxton, based in the bvi, to associate director of fiduciary support services. in the firm's human resources department, chandra benjamin, based in the cayman islands, has been promoted to director of learning & development and hr systems.

the law firm’s two new senior associates are natalie bundy from bvi investment funds and regulatory and lawrence sham from shanghai investment funds.

the law firm’s four new senior legal managers are: denise chan and nicholas fong from corporate; carmen li from litigation, insolvency and restructuring; jacquelyn wong from investment funds, all based in hong kong.

global managing partner ross munro said: “i would like to congratulate each and every person on their well-deserved promotion. i am delighted that we continue to create opportunities and career pathways for our colleagues. our people are at the heart of harneys and each promotion is a reflection of the growth and achievement of both the individual and the firm.”

harneys is a global offshore law firm. the firm provides the world's top law firms, financial institutions and corporations with legal services relating to british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law. harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world.

*the appointment of chandra benjamin is pending approval by cayman islands immigration authorities.

arrail dental is a leading premium dental services brand in china and targets patients primarily in tier-1 cities including beijing, shanghai, shenzhen, guangzhou, hangzhou, tianjin, and xiamen. they were the largest dental services provider in the premium private dental service market in china in 2020. morgan stanley and ubs jointly sponsored the ipo.

the harneys team for the ipo consisted of global co-head of banking and corporate groups raymond ng and hong kong senior associate annie liu. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provided the registered office and principal share registrar services to the client.

prior to the ipo, hong kong partner monica chu and legal manager elyse kwong advised arrail group on various rounds of pre-ipo financing.

commenting on the deal, raymond noted that, “with rising demand for healthcare services in china, we are pleased to have supported arrail group all the way leading up to the ipo. at the same time, this deal is a salient example of us being a one-stop shop offering together with our closely knitted legal and fiduciary abilities.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

harneys is delighted to announce that it has won the deal of the year: high yield award from iflr asia-pacific awards 2022. the awards celebrate the region’s most legally innovative cross-border deals, highlighting those which break new ground, set legal precedent, and enhance the legal environment for cross-border finance.

harneys acted as cayman and bvi counsel to kaisa group holdings ltd, a mainland china property developer listed on the hong kong stock exchange, in its issuance of us$500 million 11.7% senior notes due 2025 and concurrent exchange and tender offer to refinance existing medium to long-term offshore debt.

our bvi managing partner tanya cassie-parker co-head of our global banking & finance and corporate groups, led the team, supported by bvi associate melissa thomas.

tanya commented, “we are very pleased to have won this award. we pride ourselves on our ability to support clients using resources from hong kong to london to the caribbean. we draw on this depth of expertise to embrace and promote innovation in the deals we advise on, and in an ever-changing legal environment.”

the banking & finance team at harneys has decades of experience advising on bvi legal issues relating to debt finance including bilateral and syndicated loans, note and bond issues, project finance, aircraft financing, ship financing, property financing, and lease finance. the team is regularly instructed on multi-billion-dollar debt finance transactions by leading financial institutions and corporates.

mondelēz international is a global snack company headquartered in chicago, illinois. chipita s.a. is a high-growth key player in the central and eastern european croissants and baked snacks category, which cultivates its products in 13 factories and distributes to more than 50 countries.

the harneys team was led by partner george apostolou with support from counsel valentina hadjisoteriou, and associate iphigenia georgiou. george commented: “we wish to congratulate mondelēz international on their successful acquisition of chipita s.a. and we are pleased that we had the opportunity to support them during this process. this deal showcases the benefits of using a cyprus structure during cross-border financings deals and further highlights the strength of our corporate team.“

the corporate team at harneys regularly advises on complex cross-border transactions including ipos and disposals involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

slns are typically used to promote market integrity and transparency in the finance market. the notes will be listed on the official list of the luxembourg stock exchange and proceeds from the offering will be used to purchase all of cbc’s outstanding 5.75 per cent senior guaranteed notes due 2027, to redeem any of the 2027 notes not tendered, to refinance other existing indebtedness, and for general corporate purposes, including potential acquisitions. cbc holds a strong latin america market presence as the leading producer, distributor, and seller of beverages, and a major bottler for pepsico in latin america. cbc’s well-established portfolio is the largest in the region consisting of 438 brands including pepsi, gatorade, 7-up, and ocean spray.

the harneys team was led by bvi managing partner tanya cassie-parker with support from associate melissa thomas. tanya commented: “we are pleased to have advised our longstanding clients citigroup global markets inc. and j.p. morgan securities llc on this noteworthy issuance. the central america bottling corporation is a key player in the latin american market place, highlighting our team’s continued strength in the region.”

the banking & finance team at harneys has decades of experience advising on bvi legal issues relating to debt finance including bilateral and syndicated loans, note and bond issues, project finance, aircraft financing, ship financing, property financing, and lease finance. the team is regularly instructed on multi-billion-dollar debt finance transactions by leading financial institutions and corporates.

rachel joined harneys in 2007 and heads the firm’s bvi corporate transactional practice in the emea region. she is highly regarded in her field, having nearly 25 years of experience practising as a lawyer, 17 of which have been offshore. rachel advises corporations, high net worth individuals, entrepreneurs, financial institutions, seed capital investors, private equity funds and their advisers, and is the client relationship partner for several of the firm’s key clients.

after relocating to the firm’s london office in 2013, and taking on the role of london managing partner in 2017, phillip kite has returned to the bvi to continue his practice.

global managing partner ross munro commented: “rachel is an accomplished lawyer and has contributed greatly to our success within the emea market. she is well positioned to continue to deliver our london strategy and we are delighted that she has agreed to take on this position. i have no doubt that our success in london will continue under her leadership.”

rachel commented: “as we celebrate our 20^th anniversary in london this year, i am excited to have been asked to lead our talented team of lawyers and corporate services professionals. london continues to be an important hub for harneys and its clients and i look forward to the challenges of moving into what is hopefully a post pandemic world.”

led by a senior team of experienced offshore lawyers and located in the heart of one of the world's largest financial centres, harneys london opened in 2002 and services a strong base of clients in the uk and throughout europe. the firm’s london lawyers provide a full range of offerings across all practice areas and specialisms, and continue to build on the firm’s first mover advantage.

harneys acted as british virgin islands and cayman islands counsel to sf reit asset management limited in relation to its sf real estate investment trust (sf reit) listing on the hong kong stock exchange on 17 may 2021, raising approximately us$335 million. the listing is the 13th real estate investment trust (reit) on the hkex. sf reit asset management limited is the reit manager of sf real estate investment trust, the first logistics properties regarding real estate investment trust listed on the main board of the hkex.

harneys advised xpeng inc as cayman islands counsel in relation to their listings on the hong kong stock exchange on 7 july 2021, raising approximately hk$14.03 billion (us$1.8 billion). xpeng inc is a smart electric vehicle company headquartered in china. the company plans to use the raised funds to develop its product portfolio and more advanced technologies, as well as boosting its business expansion from enhancing production capability to upgrading manufacturing facilities.

the harneys team for both deals was led by global co-head of banking & finance and corporate, raymond ng, with support from senior associate lily zhang (shanghai) and legal manager nicholas fong (hong kong).

raymond says, “we are pleased to see that the firm continues to be recognised by in-house peers and other industry professionals. this is a testament to our commitment to providing top-notch services and expert advice to our clients.”

the china business law journal’s awards are presented annually and are based on hundreds of nominations from in-house counsel and other qualified observers, and research conducted by china business law journal’s editorial team. a complete list of the winners and more information about the awards can be found here.

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

our global co-head of banking and corporate groups raymond ng and hong kong senior associate annie liu assisted on the listing application by ace eight acquisition corporation (ace eight), which was submitted on 14 february 2022, while our shanghai corporate partner calamus huang and counsel jessie xu provided cayman islands legal support in the listing application by vivere lifesciences acquisition corporation (vivere lifesciences), which was submitted on 21 february 2022.

both ace eight and vivere lifesciences are looking to collaborate with target companies focused on healthcare and biotechnology in china, with ace eight also hoping to tap into the telecommunications industry.

these applications are timely actions further to the hong kong stock exchange’s new rules that came into effect in january 2022, following its consultation paper first published in september 2021.

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

harneys has been recognised for its global offshore expertise in the chambers global 2022 guide. for the fourth consecutive year, the firm has secured a band 1 ranking for its british virgin islands corporate, finance and investment funds practice. the firm has also been recognised for its dispute resolution practice in the british virgin islands and cayman islands, and its anguilla general business law expertise based abroad.

global offshore

with the largest team of lawyers in the jurisdiction, harneys remains synonymous with bvi corporate law. additionally, in the caribbean and americas region, the firm offers a substantial and well-established anguilla practice, and its cayman team is noted for its especially strong client relationships in latin america. in asia and europe, the hong kong office is consistently applauded for the strength of its litigation and insolvency team and the firm’s cyprus office is well-regarded, earning high praise for corporate and finance transactional matters.

british virgin islands

partners philip graham, and george weston were all recommended for their corporate, finance, and investment funds expertise. sources say: the lawyers are “pragmatic and highly responsive.” another interviewee added: “they are my go-to law firm in the bvi.”

partner claire goldstein was recognised as an expert in dispute resolution. a source praised the group for the way in which "they invest time and effort in paying close attention to developments across all their jurisdictions, which is of real value for their clients." another source added: “harneys bvi does an extremely good job of working with their other international offices to deliver an excellent service.”

cayman islands

partner nick hoffman is recommended for his dispute resolution expertise. sources state: “he is very responsive and always available to have calls at strange hours when necessary. it is pretty seamless working with them.”

anguilla

partner michelle frett-mathavious and counsel richard griffiths were listed as anguilla experts based in the british virgin islands and singapore respectively.

global managing partner ross munro commented: “we are delighted to be held in high regard by our clients; our continuous recognition is a testament to the hard work and dedication of our team across the globe.”

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service and rapid response. open, progressive and personable, the firm provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law to an international client base which includes the world’s top law firms, financial institutions, investment funds and private individuals.

the harneys team was led by co-head of global banking & finance and corporate paul sephton, with support from legal manager flavia au. paul commented: “we are delighted to have had the opportunity to advise on this issuance. the harneys team is excited to continue to work with studio city as it evolves as one of the leading entertainment resorts in the region.”

the banking & finance practice group at harneys has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives. the team’s deep understanding about the business environment in which their clients operate help build strong networks with industry players and service providers in key markets around the world.

harneys acted as bvi and anguilla counsel to guidewell mutual holding corporation (guidewell) in connection with its acquisition of triple-s management corporation (triple-s), a leading health care services company in puerto rico, in a transaction completed on 1 february 2022.

guidewell acquired all outstanding shares of triple-s common stock for us$36.00 per share in cash, in a transaction valued at approximately us$900 million. harneys acted on instructions from cravath, swaine and moore llp. a separate harneys team advised triple-s. the deal required approvals from regulators in both bvi and anguilla.

the harneys team working on the transaction included partners george weston and michelle frett-mathavious, and paralegal suzette phillips.

george commented: “it was a pleasure to have worked with guidewell and cravath on this exciting deal. combined, these companies now serve 46 million people across 45 states, puerto rico, and the u.s. virgin islands.”

as part of the deal, guidewell committed us$1.25 million in donations to hispanic non-profits in orlando, florida and puerto rico.

henry is a leading trust practitioner, with over 20 years offshore and onshore experience in the international private client industry, and is the global head of the firm’s private wealth team. he advises both private and institutional clients, including banks and trust companies, on all aspects of cayman and bvi trust law.

charles is a member of the firm’s private wealth team in cayman. he specialises in both contentious and non-contentious international trust and private client related matters. he advises high net worth individuals, families and institutional clients in relation to the creation, restructuring, ongoing management, and termination of cayman islands trusts. he is also experienced in representing trustees, beneficiaries, protectors, court appointed administrators, and other office holders in relation to all manner of trust and estate applications and proceedings.

jessica is a partner in the firm’s litigation, insolvency, and restructuring team in cayman and is an experienced litigator. her practice focusses on trust and estate litigation, insolvency and restructuring, shareholder disputes, and asset tracing and enforcement. her clients include financial institutions, hnw individuals, insolvency practitioners, trustees, court appointed administrators, and other officeholders.

matthew is a member of the firm’s private wealth team in london, specialising in bvi and cayman trust law, general private client and estate planning matters. his clients include individuals and families, trust companies and family offices, as well as institutional clients such as banks. his current practice includes creating, administering, and advising on often complex trust structures. he also drafts wills covering bvi assets, and administers bvi estates. his work invariably has an international and multi-jurisdictional dimension.

henno is a member of the firm’s private wealth team in singapore. he specialises in advising institutional trustees, wealthy families and private individuals on bvi and cayman law aspects of trust and private client transactions. he regularly advises on the setup and restructuring of bvi and cayman trusts, including but not limited to vista, star, purpose trusts, share trusts, charitable trust and cayman foundation companies, as well as wills and general succession and private wealth planning structures.

the private client global elite directory was created with the awareness that referrals and recommendations are absolutely key to the private client sector. as such, each year, the private wealth community is invited to share their own recommendations of their top lawyers and advisors, after which nominees are narrowed down to see who makes it into the directory.

harneys’ private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and also sufficiently flexible to adapt and evolve as those needs change.

lakeshore acquisition ii corp. is a blank check company, also commonly referred to as a special purpose acquisition company (spac). a spac is a newly incorporated company that goes to ipo to raise capital to fund a strategic acquisition 18-24 months later. lakeshore acquisition ii corp is incorporated as a cayman islands exempted company.

the harneys team was led by shanghai partner calamus huang and senior associate lily zhang with support from co-head of the firm’s global corporate group raymond ng.

calamus commented, “it has been our second time working with the client on their spac listing, showcasing our team’s dedication to providing high-quality services for our long-term clients. we expect to see more successful spac listings in the future.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

the awards are judged by an international panel of highly respected practitioners from all private wealth sectors. the winners are those judged to have excelled in achievement, innovation, expertise, and service.

henry mander, global head of trusts and private wealth, commented: “we are delighted to receive this recognition which affirms the strength and exceptional reputation of our private wealth team. the team is committed to delivering bespoke solutions across a multitude of sectors and jurisdictions to best suit each client’s individual needs.”

harneys’ private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice, whether a client is acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property, or a private island. the firm ensures that the offshore element of a client’s structure is fully suitable to the client’s needs and also sufficiently flexible to adapt and evolve as those needs change.

harneys is delighted to announce that china business law journal has named vicky lord, shanghai managing partner; and ian mann, asia managing partner on their a-list 2021 as two of china’s elite 100 lawyers (foreign lawyers), for the second and third year respectively.

the a-list identifies the top 100 elite foreign lawyers for the chinese market across mainland china and hong kong and is based on extensive research conducted by china business law journal. elite lawyers are selected from the nominations of professionals at a wide range of chinese and international companies, law firms and other organisations.

vicky is a highly regarded litigator who consistently receives accolades from directories and award bodies, in recognition of her expertise and significant wins for clients. she often acts as a litigator in ultra-high-value, high-profile bvi and cayman commercial disputes with cross-border elements. she has assisted clients with overturning injunctions in the bvi, helping secure domestic prc listings in contentious scenarios and securing asset recoveries for some of china’s leading financial institutions, blue-chip listed companies and ultra-high net worth individuals.

ian is a leading offshore litigator who specialises in restructuring, insolvency, shareholder disputes and contentious trusts. he is a regular presenter to judicial, professional and academic bodies and is often asked to provide expert opinions on offshore law to various tribunals. ian is a co-author of both of the leading offshore textbooks on british virgin islands commercial law and bermuda commercial law and is a contributor to the offshore litigation blog.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency and asset recovery are core areas of specialisation, with teams spanning shanghai, hong kong, singapore, the bvi, cayman, luxembourg, london, and cyprus. the firm provides clear, timely and innovative solutions for clients in complex multi-jurisdictional disputes.

harneys acted as british virgin islands counsel to bmr energy ltd. in relation to its us$88 million credit facility with joint lenders cibc firstcaribbean international bank, and national commercial bank jamaica limited. cibc firstcaribbean acted as lead arranger.

bmr energy is a developer and owner of renewable energy assets in the caribbean and central america and is a business segment of sir richard branson’s virgin investments. the transaction spanned multiple territories within the caribbean and the loan proceeds refinanced the outstanding debts of wind and solar independent power producers in several countries in the caribbean and central america.

the harneys team comprised josh mangeot and george weston. josh commented: “we are delighted to have helped our long-standing client bmr energy with this complex financing transaction, which showcases the bvi’s contribution as a leading jurisdiction for cross-border sustainable investment in the caribbean renewables sector.”

harneys’ transactional lawyers have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate. the banking and finance team has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt, and enforcement of security and derivatives. the corporate team’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures.

the hong kong team is commended for being “an established and trusted law firm” that is “well known for its strength in litigation, insolvency and restructuring work”.

partners ian mann, raymond ng, paul sephton, and chai ridgers are recognised as leading individuals. partner paula kay has been noted for multijurisdictional shareholder disputes. partner maggie kwok has been noted for funds & regulatory expertise.

asia managing partner ian mann said: “we are very pleased to be recognised in the legal 500 rankings for our hong kong practice based on feedback from clients and in-house peers. our lawyers are committed to continuously delivering best-in-class services to our clients.”

harneys hong kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in english, mandarin, and cantonese.

sources say, the “progressive, reliable and responsive” singapore team are “extremely professional and client-oriented in their approach”.

managing partner lishi fong is noted for banking and finance transactions, while partner nicola roberts is described as an experienced figure in dispute resolution, insolvency & restructuring. counsel jayesh chatlani and richard griffiths are also mentioned as key lawyers.

lishi said: “we are very pleased to be commended by the legal 500 rankings for our singapore practice and we remain grateful to our clients and in-house peers for collaborating with us. our teams are always ready to offer advice across different offshore structures and initiatives.”

harneys singapore offers a full range of award-winning contentious and non-contentious offshore legal services including corporate, banking, finance, investment funds, private wealth, trusts, litigation, insolvency, and regulatory in english, cantonese, and mandarin.

the harneys team was led by partner josh mangeot, with support from associate ed lacey. mitrani, caballero & ruiz moreno acted as instructing law firm.

the adium group operates one of the leading pharmaceutical businesses in latin america, with presence in 17 countries across the region and a track record of over 40 years, dedicated to the manufacturing, packaging, distribution, and commercialization of pharmaceutical products.

the team of corporate and finance lawyers at harneys have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate. the team excels at complex cross-border transactions involving bermuda, british virgin islands, cayman islands, cyprus and luxembourg vehicles.

rachel graham, corporate partner in harneys london office, advised vieco 10 limited as to matters of bvi law.

harneys corporate team excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. our significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a, asset sales and disposals, and joint ventures.

harneys is pleased to announce firmwide promotions to partner and counsel, alongside leadership changes. for the first time, harneys has promoted to partner two individuals from their fiduciary business and business support function who are not practising lawyers. all changes are effective 1 january 2022.

five lawyers from across harneys offices have been promoted to partner: francesca gibbons (litigation, insolvency and restructuring | london), joshua mangeot (regulatory & tax | bvi), charles moore (private wealth | cayman islands), and james smith (investment funds | cayman islands).

in a first for the firm, one non-fee earner has also been promoted to partner. maria pia buchi, managing director for harneys fiduciary, has been recognised in a way that exemplifies the firm’s continued plans to diversify and widen its expertise across all practices and services.

harneys has also promoted two senior associates to counsel: matthew howson (private wealth | london) and massimiliano della zonca (corporate | luxembourg)

the start of the new year will also see some significant leadership changes. philip graham will take up the role of non-executive chair of the harneys fiduciary board, linda johnston joins harneys as the firm’s chief human resources officer, and vanessa molloy will become the firm’s luxembourg office managing partner. finally, following a transition period, ross munro will begin his role as global managing partner.

ross munro commented: “both personally and on behalf of the partnership, i would like to thank and congratulate our promoted colleagues for their contribution to harneys; i look forward to watching their continued development. this year signifies an important change for harneys, i am delighted that we are able to recognise the valuable contributions made by our colleagues in the fiduciary business and the business support function by including them in partner promotions. this move is a natural progression for us as the diversity of skills and expertise of our colleagues is what makes harneys so successful.”

the appointments of charles moore and james smith to partner are pending approval by cayman islands immigration authorities.

the nft release, labelled the “legends” collection, features generative art of each of the legendary athletes and launched in nyc’s times square on 6 november 2021. blockasset also featured their art in a mural on a wall of banksy tunnel in london and recently completed the listing of their $block platform token on the gate centralized exchange.

the harneys team was led by associate marc piano with support from partner phil graham. harneys acted as offshore counsel to blockasset, working closely with hill dickinson, blockasset’s uk counsel.

phil commented: “we congratulate blockasset on their successful launch and we are pleased to have advised them on the offshore intricacies during this process. our team continues to demonstrate its unparalleled expertise, keeping apace with the meteoric rise of digital assets and the many industry first ventures that are launched.”

the blockchain and digital assets team at harneys comprises of corporate, banking, investment funds, and litigation lawyers who are experts in the law and regulation surrounding blockchain and digital assets, and have deep understanding of the underlying technology. they act for both issuers of digital assets and investment funds who invest in them. the team are members of the leading industry working groups in the bvi, the cayman islands, and the united states.

marc piano is no longer with harneys. he now works at horizons global, an h3 verified service provider.

established in 2012, canbridge is a global biopharmaceutical company leveraging its foundation in china to develop and deliver therapeutics for rare diseases and rare oncology worldwide. qualified as a “biotech company” as defined in the rules governing the listing of securities on the stock exchange of hong kong limited, canbridge became the 18th company to be successfully listed on the hong kong stock exchange this year under chapter 18a. raymond ng, co-head of our global corporate practice, shanghai-based partner calamus huang, and senior associate lily zhang advised on the project, alongside davis polk & wardwell (hong kong counsel to canbridge), king & wood mallesons (prc counsel to canbridge), kirkland & ellis (hong kong counsel to the joint sponsors) and tian yuan law firm (prc counsel to the joint sponsors).

gushengtang is a traditional chinese medicine healthcare service provider which operates offline medical institutions and online healthcare platforms to cater for medical and healthcare management needs. it was one of the top ten private traditional chinese medicine healthcare service providers in china in 2020. raymond ng and hong kong-based legal manager nicholas fong led the project, with a working group consisting of tian yuan law firm llc (hong kong counsel to gushengtang), o’melveny & myers llp (united states counsel to gushengtang), tian yuan law firm (prc counsel to gushengtang), linklaters (hong kong counsel to the joint sponsors) and zhong lun law firm (prc counsel to the joint sponsors).

raymond commented: “we are grateful to be involved in the successful ipos of canbridge and gushengtang. it has been a hugely successful year for pharmaceutical companies to raise funds in the hong kong equity market, and we expect the trend to continue through 2022.” calamus added: “our asia corporate team continues to provide top-notch service to clients across a variety of industries and sectors, including biotech and spacs. it is testament to the strength of our team - with strong local presence in hong kong, shanghai and singapore - that clients are seeking to use harneys on their landmark projects.”

the corporate team at harneys advises on complex cross-border transactions involving the british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high-profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the firm’s shanghai-based team allows china-based clients to easily access their full range of incorporation, formation, fiduciary, directorship, and trustee and trust administration services.

we are delighted to announce that our annual tech accelerator program is open for candidate enrolment. the program is designed to support innovators and professionals with free legal advice and trust company services as they prepare to launch a company or fund.

we are encouraging start-up funds and emerging growth companies to apply to receive up to us$25,000 of combined legal fees from harneys law firm and trust company services from harneys fiduciary. they will also be mentored by our expert lawyers and marketing team, who will help guide, support and refine the ideas of the successful candidate.

joining us on the expert panel this year are: philip graham, danielle jerums, and joshua mangeot.

partner philip graham commented: “the bvi market is incredibly active at the moment, with the harneys team launching a record number of new fund vehicles, joint ventures and tech focused companies in the jurisdiction. the current dynamism can be attributed to a wide variety of global macro factors, but the huge boom of digital assets/blockchain and the esg sector in 2021 has seen some incredibly innovative projects launching from our desks.”

we are looking forward to hearing from the latest and greatest tech innovators and professionals as they prepare to launch their company or fund. interested candidates can apply by filling out a simple form, outlining key details of their business idea. applications will be accepted up until 31 december 2021, after which a shortlist will be announced in early 2022.

this transaction values procaps group at approximately us$1.1 billion with approximately us$160 million in gross cash proceeds. the proceeds are expected to fund organic growth through capacity expansion, plant improvements, working capital investments, e-health platform improvements and r&d expenses, as well as inorganic growth via accretive acquisitions.

harneys acted on instructions from us firm greenberg traurig, llp, and arendt & medernach sa, camilleri preziosi advocates a/c, and philippi prietocarrizosa ferrero du & uría acted as luxembourg, malta, and latin america legal counsel, respectively.

the harneys team was led by partner george weston with support from partner christopher hall, associates melissa and james kitching, and paralegal natalee christopher.

george commented: “we are delighted to have worked on this deal and to have further strengthened our track record in the spac space, working with a fantastic team from greenburg traurig. the deal highlights the public m&a and equity capital markets expertise we have across our teams in cayman and the bvi.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures.

the eagerly awaited privy council full board decision in convoy collateral limited v broad idea international limited et al was handed down on 4 october 2021 by the appellate committee. this was an appeal brought by harneys on behalf of its client ccl seeking clarification on the law of freezing injunctions. a central part of the appeal was a direct challenge to the longstanding house of lords authority commonly known as the siskina, which has been the leading authority on injunctions for the past 44 years.

in a groundbreaking decision, that will reverberate through the common law world for years to come, the privy council agreed with harneys’ arguments and found that “… it is necessary to dispel the residual uncertainty emanating from the siskina and to make it clear that the constraints on the power, and the exercise of the power, to grant freezing and other interim injunctions which were articulated in that case are not merely undesirable in modern day international commerce but legally unsound. the shades of the siskina have haunted this area of the law for far too long and they should now finally be laid to rest.” a consideration of the siskina was central to the question arising on the appeal of whether the 2010 bvi decision, commonly referred to as black swan, which created a common law stand-alone freezing injunction, was good law. the eastern caribbean court of appeal had overturned black swan in 2020, in reliance on the the siskina, finding that absent a substantive cause of action issued in the bvi, there was no jurisdiction to grant injunctive relief in aid of foreign proceedings.

through an examination of the evolution of injunctive relief, the privy council found that the siskina had placed legally unsound constraints on the exercise of the power to grant freezing injunctions and therefore black swan was correctly decided and overruled the findings of the court of appeal on this issue.

the privy council’s decision alters the landscape with regard to the grant of freezing injunctions and now stands as the leading decision on injunctive relief in aid of foreign proceedings (whether stand-alone or not) and has clarified the freezing injunction jurisdiction, breaking it free from the often misunderstood and resulting narrow intellectual straitjacket that has plagued this relief since 1977.

bvi based partner jonathan addo, who co-led the legal team with hong kong based partner julie engwirda, commented: “appearing before the appellate committee on this matter was a professional privilege. success on these groundbreaking points demonstrates the intellect and rigour applied by our litigation team to this historically important case.”

julie commented: “i am so proud of the legal team who have worked tirelessly on this for close to four years. we were convinced that the original bvi decision in black swan was correctly decided and overturning this common law jurisdiction through legislative interpretation was not in line with either the intent of the legislation or modern practice. that it took an appeal to the privy council to confirm that such a common law power exists, despite legislative development, underscores the intricacies of this area of law.”

for further information on the background to the law and the importance of the decision, read our analysis here.

carolynn, who has been with the firm since 2014, counsels financial services clients on matters relating to licensing, the conduct of business, corporate governance, prudential requirements, regulatory reporting, audits, aml requirements and relations with cima. she has significant experience advising banks, trust companies, fund administrators, company managers, investment managers, advisors and broker dealers, from the establishment stage to full operations.

in addition to specialising in financial services regulation, carolynn has over 20 years of experience, both in house and in private practice, advising on an array of corporate law matters, mergers and acquisitions, corporate and finance transactions, restructuring and local licensing.

ross munro, partner and global head of harneys fiduciary, said: “carolynn’s in-depth knowledge of the firm and industry experience make her an invaluable member of the harneys team and a superb choice for this role. we are delighted that she has agreed to take on the position.”

harneys is a global offshore law firm that provides advice on british virgin islands, cayman islands, luxembourg, cyprus, bermuda and anguilla law to an international client base which includes the world’s top law firms, financial institutions and investment funds, as well as high net worth individuals.

harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world, delivering bespoke solutions for corporate, investment fund and private clients.

the awards pay tribute to the outstanding performance of private practitioners and in-house teams in the region. each year, alb invites an independent judging panel of senior and expert legal industry leaders from various sectors corresponding to the diverse list of award categories.

asia managing partner, ian mann, commented: “it is a great honour to receive this highly prestigious award, which affirms the strength and exceptional reputation of our asia team. we would like to thank alb and the judging panel for selecting harneys as the winner.”

harneys asia is one of the most dynamic and fastest growing offshore legal teams in the region offering award-winning litigation, restructuring, corporate, finance and funds advice in english, mandarin and cantonese. the firm’s three full-service offices across hong kong, singapore and shanghai represent one of the largest asia networks of any offshore law firm and also provide fiduciary services.

harneys successfully closed a recent refinancing and corporate reorganisation for bvi company sermaye investments limited (sil), which holds the shares of socar turkey enerji a.s. (steas). both are subsidiaries of the state oil company of the azerbaijan republic (socar). steas was established to implement investment projects in the oil refining, petrochemical sectors and trade in natural gas in turkey.

the transaction involved the repayment of a us$1.3 billion loan from goldman sachs international (gsi), the acquisition of shares by sil from gsi, and a corporate restructuring and refinancing with a new us$1.3 billion secured debt from a portfolio of lenders.

harneys acted on instructions from vinson & elkins in london, and the team was led by partner george weston.

george commented: “this was a complex transaction, showcasing our corporate and finance expertise and we are delighted to have closed it within a tight timeframe.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures.

harneys acted as cayman islands counsel to galaxycore inc in relation to its cn¥3.593 billion listing on the science and technology innovation board of the shanghai stock exchange on 18 august 2021.

galaxycore inc is a leading innovative design company, developing, manufacturing and distributing semiconductor and integrated circuit solutions for image sensors and display driver chips used in a variety of electronic products around the world.

the harneys team was led by counsel jessie xu, with support from global co-head of corporate raymond ng. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provided registered office services to the employee stock ownership plan platforms of galaxycore inc.

jessie xu commented: “we congratulate galaxycore on their landmark listing and we are pleased to have advised them throughout this process.” raymond ng added: “our team continues to showcase its expertise and capabilities, advising companies from a variety of industries and sectors on their successful listings on the world’s top exchanges.”

vicky lord, shanghai managing partner said: “we are at the forefront in advising an increasing number of cayman island companies listing in the people’s republic of china and we expect this trend to continue. harneys has solidified itself as china’s go-to firm for companies looking to list on any stock exchange around the world, but particularly those in mainland china. our team of on-the-ground experts in shanghai sets us apart from competitors and we look forward to continuing to provide this unparalleled service to clients throughout the region.”

the corporate team at harneys advises on complex cross-border transactions involving cayman islands, british virgin islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. the group’s expertise lies in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange. through aristomedou loizides yiolitis llc, shanghai representative office (cyprus), harneys’ shanghai team provides an award-winning range of offshore legal services and fiduciary services. our shanghai-based team allow our china based clients to easily access the full range of incorporation, formation, fiduciary, directorship and trustee and trust administration services.

bradda head is a north american-focussed lithium developer with key assets in nevada and arizona. the purpose of the listing is to provide the company with exposure to european investors and to offer liquidity to its existing shareholder base.

the harneys team was led by london based partner rachel graham.

rachel commented: “we enjoyed working with the bradda team and their uk advisers on this deal and it was particularly pleasing that the related fund raise was oversubscribed. the listings market in london is more buoyant than it has been in recent years and it is great to see a company like bradda coming to market at this time.”

harneys corporate team regularly advises on complex cross-border transactions including ipos and disposals involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

the list highlights top disputes practitioners who have successfully handled significant cases and exceeded client expectations in the process. lawyers were selected based on their case portfolio, client recommendations, and feedback from the market.

paula kay’s practice focusses on high value, multi-jurisdictional shareholder disputes in offshore companies listed in hong kong or the us. she is a member of harneys listco dispute unit. her practice includes unfair prejudice claims, oppression claims and just & equitable windings up, as well as dissenting shareholder claims following “take-privates”. she regularly advises upon and attends contentious egms for both listed and non-listed companies. she also has particular expertise in obtaining freezing injunctions simultaneously across jurisdictions, working with large legal teams, often including multiple qcs.

vicky is a highly regarded litigator in cross-border commercial cases in the bvi and cayman. recent significant wins include acting for green energy giant trina solar as well as ai leader jing wang, formerly of baidu, in cayman. she has assisted clients with overturning injunctions in the bvi, helping secure domestic prc listings in contentious scenarios and securing asset recoveries for some of china’s leading financial institutions, blue-chip listed companies and ultra-high net worth individuals.

ian is a leading offshore litigator who specialises in restructuring, insolvency, shareholder disputes and contentious trusts. he is a regular presenter to judicial, professional and academic bodies and is often asked to provide expert opinions on offshore law to various tribunals. ian is a co-author of both of the leading offshore textbooks on british virgin islands commercial law and bermuda commercial law and is a contributor to the offshore litigation blog.

nicola roberts has over 20 years of experience as a contentious practitioner and having spent more than a decade working offshore, she is routinely engaged in a wide range of complex cross border litigation. her expertise encompasses shareholder disputes, fraud and asset-tracing, international contentious trusts and estates, fund disputes, cryptocurrency disputes and investigations as well as insolvency, restructuring and contentious regulatory advisory work. she also leads the harneys trusts and private client advisory group in asia.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency and asset recovery are core areas of specialisation, with teams spanning the bvi, cayman islands, luxembourg, london, hong kong, shanghai, singapore and cyprus. the firm provides clear, timely and innovative solutions for clients in complex multi-jurisdictional disputes.

the harneys team comprised of maggie kwok, asia head of funds and regulatory and senior associate ian clark who advised on the funds and corporate aspects of the transaction, along with paul sephton, asia head of transactional and global co-head of banking & finance and corporate and senior associate oswald kan who advised on the financing elements of the deal. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provided registered office services. dechert’s hong kong and london teams acted as lead onshore counsel to ping an.

maggie commented: “we are pleased to have advised ping an on this landmark transaction. our team continues to provide outstanding expertise and service to clients and deals like this are a testament to harneys’ unparalleled capabilities within the market.”

harneys advises on all aspects of the life of a cayman, bvi, cyprus or luxembourg fund including formation, restructuring and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

yucheng fan joins harneys from another offshore law firm in hong kong and specialises in cayman islands and british virgin islands fund matters, advising on the structure, formation, launch and maintenance of private equity funds, venture capital funds, corporate venture capital funds, hedge funds and unit trusts. he is fluent in four languages and a native japanese and mandarin speaker, and is one of the only offshore lawyers with a japanese attorney qualification (bengoshi), practising cayman islands and british virgin islands law.

yucheng’s recruitment significantly strengthens harneys’ funds offering in the asia market. his fluency in the japanese language and familiarity with both japanese general and business culture, as well as legal career at leading japanese onshore and cayman-headquartered offshore law firms helps differentiate harneys’ practice and offering in the market.

maggie kwok, asia head of funds and regulatory, commented: “we are delighted to welcome yucheng to the team. we are committed to expanding our investment funds offering and believe that yucheng’s practice, extensive track record and multilingual language capabilities will help us go from strength to strength.”

harneys advises on all aspects of the life of a cayman, bvi, cyprus or luxembourg fund including formation, restructuring and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

click here to read the japanese translation of this press release.

elo7 had been referred to by etsy ceo josh silverman as “the etsy of brazil”.

harneys cayman corporate partner, matthew taber, advised etsy.

market experts describe harneys as their “go-to firm for trust matters due to their responsiveness and sophisticated knowledge in the trust area.” clients say the firm “stay on top of the latest legal developments and ensure that their knowledge is shared with the clients.”

partner henry mander, who leads the cayman and bvi trusts practice, was ranked as band 1 in cayman and described as “very measured, very sensitive to people's requirements and technically extremely good” and “very strong on the non-contentious side”. counsel charles moore was also ranked and recognised as "very calm" and "very good at seeing what the problem is”.

henry said: “the harneys private wealth team consists of highly respected lawyers that are dedicated to providing personal, commercially sensitive, and pragmatic advice. we are delighted to be continuously recognised by this reputable guide and our fellow professionals as experts in our field.”

the firm’s trusts practice advises individual and commercial clients on the establishment, administration and structuring of all types of bvi, cayman and cyprus trusts. harneys provides bespoke and innovative succession and wealth management solutions to a wide range of clients from a wide range of countries.

chambers high net worth ranks the leading and most dedicated lawyers and law firms for international private wealth. these extensive and market-leading recommendations, rankings and insights are based on an in-depth analysis of more than 55 countries around the world, including every major private wealth market.

waystone serves clients with assets under management totalling more than us$1 trillion, delivering expertise to manage governance and regulatory requirements. it has achieved global scale through a series of carefully planned acquisitions. montagu’s partnership will aid the growth of waystone’s existing service offering while supporting further geographic and product expansion through targeted acquisitions.

the harneys team was led by cayman islands based partner matthew taber who was assisted by counsel carolynn vivian.

matthew commented: “while the waystone group has a global presence, with the history of the group, this deal is big for the cayman islands in terms of the local funds and asset management industry and we were very pleased to have been able to help montagu on the deal. for over a decade our cayman office has provided a full range of cayman islands commercial legal services. deals like this demonstrate the faith that top asset managers have in our ability to get the deal done.”

the global private equity team at harneys provides legal advice to private equity firms, investors, leading global law firms and sponsors on a wide range of transactions and structures using offshore vehicles. with offices in the bvi, the cayman islands, cyprus, hong kong, london, luxembourg, singapore, and shanghai, harneys serves the world’s largest private equity financial centres, working seamlessly across borders and time zones.

kayla was born and raised in the cayman islands and has always had a keen interest in the financial services industry. whilst pursuing her law degree at the university of sheffield, she returned to cayman during her breaks to complete several legal internships. this experience solidified her aspiration of becoming a cayman lawyer. kayla is also a member of the rotaract club of grand cayman which is an organisation dedicated to making positive, lasting changes in communities around the world.

kayla will begin her legal practice course (lpc) at the university of law in manchester in september 2021. upon completion of the lpc, she will be eligible to undertake articles of clerkship with the firm which will allow her to qualify as an attorney in the cayman islands.

kayla commented: “i am honoured to have the opportunity to finish my studies and continue my journey towards becoming a cayman attorney with the sponsorship by harneys. i am eager to demonstrate everything i have to offer and i look forward to a future in the legal industry.”

partner and director of harneys’ articled clerk training programme charles moore commented: “kayla has impressed us with her strong academic achievements and exhibits the qualities that we look for when choosing our scholarship recipients. we are proud to support her as she goes on to complete her lpc overseas and look forward to kayla joining harneys as an articled clerk upon completion of her studies”.

harneys is committed to providing opportunities to talented students who are looking for a successful start to their legal careers. harneys awards legal scholarships to bright and ambitious caymanian students pursuing law degrees, post-graduate conversion courses and post-graduate qualifying courses such as the professional practice course, the legal practice course and the bar professional training course. for more information on our student and graduate programmes please visit our careers page or contact cayhr@harneys.com.

harneys is pleased to announce the promotion of 30 of its employees globally. the promotions include four senior associates and one senior legal manager. partner promotions occur annually in january.

the firm’s new senior associates are: ian chambers from bvi corporate, vivian ma from shanghai litigation, insolvency & restructuring, and lily zhang from shanghai transactional. the new senior legal manager is sui hung yeung from hong kong litigation, restructuring & insolvency.

chairman peter tarn commented: “i would like to congratulate all the employees who have been promoted. their promotions are in recognition of what they have achieved at harneys to date as well as an indication of what we believe they will accomplish in the future. i wish them the best of luck in their new roles.”

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service and rapid response. open, progressive and personable, the firm provides advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law to an international client base which includes the world’s top law firms, financial institutions, investment funds and private individuals. the firm’s network is one of the largest among offshore law firms, with locations in major financial centres across europe, asia, the americas and the caribbean, allowing harneys to provide services of the highest quality to clients in their own languages and time zones.

*all promotions are subject to the necessary regulatory approvals.

ccrc is a leading e-commerce and business services outsourcing specialist in the people’s republic of china, focusing primarily on complex, voice-based and internet-based segments of customer care services, providing comprehensive outsourcing services for e-commerce platforms, call centres, marketing services, back-office operations and enterprise cloud customer services.

the harneys team was a cross-jurisdiction collaboration between bvi-based partner george weston and shanghai-based corporate specialist jessie xu. the merger was undertaken pursuant to, and taking advantage of, the flexible merger provisions in the bvi business companies act.

george weston commented: “working with jessie on this merger is a great example of our ability to serve clients across time zones and offices, demonstrating our experience and capability in cross-border corporate action. we have consistently advised clients on leading bvi take-privates using the bvi’s flexible merger code and it represents a real strength of our global corporate practice.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the team’s significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. through aristomedou loizides yiolitis llc, shanghai representative office (cyprus), the shanghai team provides an award-winning range of offshore legal services and fiduciary services. our shanghai-based team allow our china based clients to easily access the full range of incorporation, formation, fiduciary, directorship and trustee and trust administration services.

xpeng inc is one of china’s largest electric vehicle manufacturers, headquartered in guangzhou, china, integrating advanced internet, ai and autonomous driving technologies. it is the first dual-primarily listed company in hong kong with a weighted voting rights structure. in 2020 harneys provided cayman advice to xpeng inc in relation to its pre-ipo equity financing and us$1.5 billion listing on the new york stock exchange; work that resulted in a 2020 deal of the year award from china business law journal. harneys has successfully advised on a number of high value tech deals and continues to provide unparalleled service and expertise across this sector.

chaoju eye care is a leading ophthalmology and eye care medical services provider with 17 ophthalmic hospitals and 23 optical centers across the prc, with a strong foundation in north china and inner mongolia. listing proceeds will go toward acquisition and establishment of new ophthalmic hospitals as well as renovations and upgrades to existing hospitals and it infrastructure.

raymond ng, global co-head of corporate oversaw harneys’ successful teams, legal manager denise chan in hong kong leading the chaoju eye care deal and the xpeng deal being led by corporate specialist lily zhang in shanghai, supported by vicky lord managing partner. harneys fiduciary provided principal share registrar and registered office for the companies with virginia choy and jeff ng assisting.

raymond ng commented: “we are pleased to be involved in both xpeng inc and chaoju eye care’s landmark ipos in hong kong. our asia transactional team continues to provide the highest calibre of service to clients across a variety of industries and sectors. these successful listings further add to the strengthening ipo market in the region.” vicky lord, shanghai managing partner added “it is testament to the strength of our team that time and again clients are seeking to use harneys in these deals – it is an honour for us to serve them and we congratulate them on their successful listing.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures. through aristomedou loizides yiolitis llc, shanghai representative office (cyprus), the shanghai team provides an award-winning range of offshore legal services and fiduciary services. our shanghai-based team allow our china based clients to easily access the full range of incorporation, formation, fiduciary, directorship and trustee and trust administration services.

harneys acted as counsel to kanzhun limited (nasdaq: bz) and chinese insurance broker tian ruixiang holdings ltd (nasdaq: tirx) on their respective listings on the nasdaq capital market, raising combined net proceeds of us$924 million.

kanzhun’s listing is one of the biggest ipos by a chinese company in the us since software firm tuya inc’s us$947 million offering in march, according to bloomberg. kanzhun developed the boss zhipin mobile app, which connects job seekers and employers and is china’s largest online recruitment platform.

tian ruixiang holdings ltd, headquartered in beijing, china, is an insurance broker operating in china. it distributes a wide range of insurance products, including life insurance, property insurance, and casualty insurance. proceeds from the offering will be used for opening up new branches; research, development and operational investment on the company's new internet insurance center, and general working capital.

head of the firm’s transactional team in asia, paul sephton, commented: “it has been a busy month for the ipo market in asia, with our corporate team advising on several leading deals, the successful completion of which further highlights our market standing and ability to deliver on the most high profile of transactions.”

the harneys team was led by shanghai associate lily zhang with support from co-head of the firm’s global corporate group raymond ng. the firm’s corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. their significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

lakeshore acquisition i corp. is a blank check company, also commonly referred to as a special purpose acquisition company (spac). a spac is a newly incorporated company that goes to ipo to raise capital to fund a strategic acquisition 18-24 months later. lakeshore corp is incorporated as a cayman islands exempted company. over the course of 2020, more than a third of spacs were incorporated in either the cayman islands or the british virgin islands, according to spac insider.

the harneys team was led by shanghai associate lily zhang with support from co-head of the firm’s global corporate group raymond ng and paralegal bing huang. this is the third ipo lily and raymond have advised on together this month.

zhang commented: “spacs are surging in the alternative ipo space due to their fast and cost effective access to the market, so it was a very exciting opportunity for our team to advise on this deal. congratulations to lakeshore corp on their successful listing.”

the corporate team at harneys has a leading equity capital markets (ecm) practice with substantial experience regarding all aspects of capital raising by offshore companies, including ipos and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, spacs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. the firm’s ecm expertise lie in advising entities listed or listing on all major stock exchanges, including the new york stock exchange, nasdaq, the london stock exchange, aim, the hong kong stock exchange, shanghai stock exchange and the luxembourg stock exchange.

this list is created from the findings of a survey of over 50 private client offshore law firms across the globe, and highlights the leading firms specialising in trusts advice, wealth planning and management. harneys was recognised in the multi-jurisdictional section of this list.

eprivateclient praises offshore law firms for playing a vital role in the global private wealth sector during the unprecedented times of the past year, where the need for sophisticated private wealth structures has been at a high.

global head of our trusts and private wealth groups henry mander commented: “we are delighted to be recognised by eprivateclient as a top offshore law firm. we pride ourselves on having a global network that works closely together to develop bespoke solutions for clients. this recognition is a testament to the skills of our dedicated professionals with deep knowledge and expertise in the private client field.”

harneys private wealth team works closely with onshore tax and legal advisors to provide personal, commercially sensitive, and pragmatic advice to clients whether they are acquiring or registering a business, managing multiple and complex cross-border assets, purchasing fine art, property or a private island. the team also collaborate with our contentious trusts department where we advise all stakeholders in cayman and bvi trusts on the full range of matters which may come before the court and where we have seen a noticeable increase in recent years in our instructions involving very high-value trusts.

escalent is a top human behaviour and analytics advisory firm specializing in industries facing disruption and business transformation. escalent is headquartered in livonia, michigan with offices in the uk, china and canada. grail is a strategic insights consultancy founded by monitor group in 2006 that helps clients seize opportunities and respond decisively to market change by applying insights to any aspect of their business. grail is located across the us and in canada, china, india, ireland, italy, the philippines, singapore, south africa, uae and the uk.

as bvi counsel acting for symphony, harneys acted for the buyer on the bvi corporate elements of the acquisition and on its financing arrangements, including the grant of security by and over the bvi target company. partner george weston led the harneys team advising escalent, with corporate assistance from associate james kitching.

weston commented: “this deal highlights the strength of our private equity team, and our high-end corporate and financing expertise. we have seen significant m&a activity in the technology sector, where bvi companies are popular holding vehicles.”

the corporate team at harneys excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. their significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a and joint ventures. harneys’ corporate lawyers have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate.

harneys is pleased to announce it has been named best offshore law firm by china business law journal (cblj), for the third consecutive year. in addition, the firm received awards for banking & finance, family wealth management, restructuring & insolvency, and structured finance & securitisation. the results were announced in the china business law journal report on 18 may.

shanghai managing partner, vicky lord, commented: “it is a great honour to receive these awards. winning best offshore law firm for a third year affirms the exceptional reputation of our teams across all practice areas. we are proud to be the go-to offshore firm in china and remain committed to providing our clients with unmatched legal and administrative services.”

the china business law journal awards are presented annually and are based on hundreds of nominations from in-house counsel, corporate executives and legal professionals, in addition to research conducted by its editorial team.

earlier this year, harneys won three deal of the year awards from china business law journal.

sf reit is the first logistics-focused reit to be listed on the hkex and invests primarily in high quality, income-generating properties globally, with an initial focus on modern logistics properties in hong kong and the people’s republic of china (prc). sf reit is managed by sf reit asset management limited whose investment objectives are to provide its investors with stable distribution and sustainable long-term growth.

the harneys team was led by co-global head of corporate raymond ng and legal manager nicholas fong, with support from paralegal alkafe lam. hogan lovells advised dbs as the sole listing agent, with baker & mckenzie providing onshore advice to sf reit asset management limited. credit suisse, jpmorgan and dbs were joint global coordinators, joint brokers and joint lead managers on the deal.

raymond ng commented: “reits are an exciting investment strategy and offer diversification advantages when compared to more traditional investments into physical properties. we are pleased to have advised the reit manager on this listing and would like to congratulate them on their success.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys cyprus has maintained its tier 1 ranking from legal 500 for its banking & finance and commercial, corporate and m&a practices, and tier 2 for its tax practice for the fourth consecutive year. the team was described as having “unparalleled deep knowledge” and being “very professional and responsive.”

cyprus managing partner pavlos aristodemou continues to be the only person ranked in the hall of fame for his banking and finance expertise. clients praise him for being “responsive and instrumental in resolving difficult matters.”

partner nancy erotocritou and consultant demetris loizides were ranked as leading individuals in their areas of expertise.

counsel sonia hamshaw and associate marisa efstathiou petevi were listed as rising stars in their respective practices.

clients also highlighted “problem solving” partner aki corsoni-husain and “knowledgeable and patient” counsel valentina hadjisoteriou.

pavlos aristodemou commented: “we are delighted to receive continuous recognition by legal 500 and our clients as experts in the industry. our dynamic team is dedicated to providing high quality, pragmatic advice which is proven in the acknowledgment we are given each year.”

linklogis is the fifth company seeking a primary listing on the hkex with a weighted voting right structure (wvr). including linklogis, there are 12 companies adopting a wvr structure, seven of which are secondary listings.

the harneys team was led by co-global head of corporate raymond ng, with assistance from legal manager nicholas fong, and paralegal alkafe lam. lead counsel for linklogis and joint sponsors are davis polk & wardwell and skadden, arps, slate, meagher & flom and affiliates, respectively.

raymond commented: “this was a particularly exciting and challenging project to advise on as it is one of very few hong kong ipos with a wvr structure. we are pleased to have completed this landmark transaction for our clients and would like to congratulate linklogis for their impressive achievement.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

clients noted that our lawyers are “pragmatic, responsive”, provide “clear advice” and are “very technically strong”. the team is known for their multi-talented offering and their ability to assist clients with commercial contract elements of large multinational acquisitions, divestments and mergers. they continually advise on corporate restructuring and tax issues. the team also act for clients on financial law matters, such as project finance and debt restructuring, and are highly experienced in syndicated financing and refinancing transactions.

two partners from the cyprus office were ranked, cyprus managing partner pavlos aristodemou and banking and finance partner nancy erotocritou. pavlos was highly praised for his strong client care. his diverse practice encompasses refinancing, syndicate lending, and loan portfolio transactions. nancy erotocritou was highlighted for her ability to “understand the aims of the client and what is needed”. she was also described as a "hard-working practitioner”. clients noted that “she is highly experienced in acting on acquisition finance and syndicate lending on behalf of sponsors and lenders”.

pavlos commented: “we are pleased to be recognised for our world-class expertise by chambers europe. our rankings are a testament to our team’s unwavering dedication and commitment to our clients, despite the challenges faced during the global pandemic.”

as a leading international multi-jurisdictional law firm with a physical presence in cyprus, harneys provides unrivalled service to clients throughout the world, particularly for complex and cross-border disputes. cyprus is the premier hub for international business opportunities in the mediterranean and one of the top venues for the incorporation and establishment of businesses across europe.

the future of mobility fund is a transport and technology fund focussing on investments into innovative mid-to-late-stage growth companies within the transportation industry. the fund has already secured us$60 million from china car manufacturer, zhejiang geely holding group, and south korean conglomerate, sk holdings.

the harneys team was led by asia head of funds and regulatory, maggie kwok, with support from senior associate ian clark and legal manager lawrence sham. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, also assisted with the transaction providing registered office services.

harneys advises on all aspects of the life of a cayman, bvi, cyprus or luxembourg fund including formation, restructuring and closure, both in planned and distressed scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys has won the turnaround deal of the year award 2020 from ifr asia for its work on china shuifa singyes energy holdings’ debt restructuring.

harneys advised china singyes solar technologies holdings limited, a curtain wall installation, solar engineering and construction company incorporated in bermuda and listed in hong kong, on the successful restructuring of over us$552 million outstanding bonds and convertible notes through inter-conditional parallel schemes of arrangement in bermuda and hong kong. head of harneys emea and asia pacific restructuring practice, chai ridgers, led the harneys team with assistance from jayson wood, partner and head of harneys cayman islands and north america restructuring team, along with senior associate charles wong.

chai ridgers commented: “we are delighted to receive this award, which demonstrates the unrivalled reputation and ability of our global restructuring group. over the past decade, we have acted on some of the largest and most complex cross-border restructurings, and through published decisions, have helped to redefine offshore jurisprudence in this area.”

the annual ifr asia awards are designed to showcase the most impressive deals and the institutions that have best delivered on their chosen strategy across asia’s financing markets.

harneys’ dedicated global restructuring group is the first amongst offshore law firms to offer specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. led by a team of ranked partners, the group works closely with the firm’s formidable transactional, litigation, funds, trusts, tax and regulatory teams, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.

chambers commented that the firm “offers high quality advice across the full spectrum of corporate, finance and investment fund matters”. for the first year, chambers also specifically included investment funds in the department ranking, noting harneys “has especially noteworthy abilities in investment funds” and that its bvi based global head of investment funds, philip graham was described by clients as “one of the leading fund lawyers on the island".

philip graham commented: “we are delighted to be held in high regard by our clients and this extremely reputable directory. our continuous and broadening recognition year after year is a testament to the hard work and dedication of our team and not just the lawyers individually recognized, to deliver first-rate service.”

other lawyers highlighted include partner greg boyd who was praised for his “deep experience, strong technical skills and good judgement”, partner michelle frett-mathavious who sources describe as a “very approachable” expert who “responds quickly and is clear with responses”, and “up and coming” partner george weston whose “corporate and capital markets knowledge is fantastic”.

harneys’ longstanding strength in the bvi was also reflected in an upgrade in the global offshore rankings, with chambers noting the firm remains “synonymous with bvi corporate law”.

as a law firm and fiduciary services business that started in the british virgin islands over 60 years ago, harneys has grown in tandem with the bvi’s own development and increasing importance to the international economy as a leading offshore financial services centre. with offices in over 10 locations across the globe, harneys is recognised internationally as an export brand from the bvi with the bvi at its core.

agrippa capital is a market-neutral hyperactive crypto fund that aims to consistently outperform the crypto index. they are aiming to become market-leading crypto fund offering with hopes of generating consistent and sustainable returns for clients, which removes the volatility risk. they strive to be transparent, ethical, and socially responsible with all investments, something they are confident will lead to a very loyal investor base.

philip graham, global head of investment funds at harneys, commented: “we are proud to have been a market leader in the exciting digital currency space since 2015. agrippa exemplifies the type of innovators that will drive sustainable economic growth in the future. they are an extremely interesting proposition, made up of a team that combines institutional experience with cutting-edge insight and their enthusiasm and drive was very hard to ignore. we are confident that the market will be very receptive to their arrival and we are excited to be a small part of their journey.”

a representative from agrippa capital, added: “we are extremely grateful for the guidance that harneys has provided us so far, and we look forward to their continued support in the future. this program has allowed us to prepare for our launch with confidence, knowing we have the necessary legal and trust expertise to help us get our fund vehicle off the ground and navigate the common pitfalls with any launch to successfully access the crypto market.”

harneys would like to thank the numerous applicants for taking the time to organise and present their ideas. the panel of experts were impressed by the range of concepts presented throughout the program and are very much looking forward to reigniting the program at the end of 2021.

t capital partners commented: "we are grateful for your thoughtful advice and attentive guidance which helped us better understand various issues."

the harneys team was led by asia head of funds and regulatory, maggie kwok, with support from senior associate ian clark and legal manager cherrie wong. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, also assisted with the transaction.

harneys advises on all aspects of the life of a bvi, cayman, cyprus or luxembourg fund including formation, restructuring and closure, both in distressed and planned scenarios. the firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.

harneys acted as cayman islands counsel to xpeng inc, one of china’s largest electric vehicle manufacturers, in relation to its pre-ipo financing and us$1.5 billion listing on the new york stock exchange. harneys also provided cayman advice to the special committee of sina corporation, a chinese technology company which owns the weibo social media platform, in relation to its us$2.6 billion privatisation off of the nasdaq.

shanghai managing partner vicky lord acted as lead partner, issuing norwich pharmacal and winding up proceedings against weride inc on behalf of two shareholders in the cayman islands. the matter was a multi-faceted and high-value shareholder dispute case with highly complex cross-border elements, settling in may 2020.

vicky lord commented: “we are proud to receive these awards which are a testament to our asia team’s expertise across all of our practice areas. our on-the-ground presence in shanghai sets us apart and uniquely positions us as the only full-service offshore legal team in mainland china, allowing us to provide unparalleled client service.”

the china business law journal’s awards are presented annually and are based on hundreds of nominations from in-house counsel and other qualified observers, and research conducted by the china business law journal’s editorial team. a complete list of the winners and more information about the awards can be found here.

harneys is one of the most dynamic and fastest growing offshore law firms in asia. through aristomedou loizides yiolitis llc, shanghai representative office (cyprus), the shanghai team provides an award-winning range of offshore legal services across key practice areas including corporate and commercial, banking and finance, investment funds, private wealth, dispute resolution, insolvency and restructuring.

the asia team were praised for providing a “knowledgeable, resourceful, comprehensive and cost-effective service.” sources say, “‘the firm’s chinese language capabilities at partner level differentiates harneys from some of its competitors.”

highlighted as “leading individuals” were: the “very charismatic” asia managing partner ian mann; global co-head of banking and head of asia transactional paul sephton, who was described as “very experienced”; global co-head of banking raymond ng who was acknowledged as being “very versatile” and head of restructuring asia chai ridgers, who is recognised as “attentive, efficient, and professional”. other key lawyers mentioned include: head of litigation asia paula kay and head of funds and regulatory asia maggie kwok.

ian mann said: “we are delighted to once again be recognised in the legal 500 rankings for our expertise in asia. our expansive team is dedicated to providing the best service to our clients and their continuous positive testimonials help drive us to deliver quality results.”

harneys asia is one of the most dynamic and fastest growing offshore legal teams in the region. the firm’s three full-service offices across hong kong, singapore and shanghai represent one of the largest asia networks of any offshore law firm.

cml was incorporated in 2015 to acquire licenses prospective for mineral sands in sri lanka (the project). the project has an established jorc resource of 17.2mt, of which 84 per cent is in the measured and indicated categories, with an average grade of 17.6 per cent total heavy minerals (thm), making it one of the highest-grade deposits in the global peer group. less than 5 per cent of the project area has been drilled to date and the jorc resource is from surface to a depth of 3m. exploration work has shown continuation beyond 3m and also returned grades in excess of 26 per cent thm.

the relevant cml rns is available here.

capital metals new website is here.

the harneys team was led by partner, rachel graham. rachel commented: “we wish to congratulate the capital metals team and hill dickinson our instructing onshore counsel on admission to aim and wish them every success with their new project.”

harneys corporate team regularly advises on complex cross-border transactions including ipos and disposals involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

the a-list identifies the top 100 private practice lawyers in mainland china and hong kong and is based on extensive research conducted by china business law journal. elite lawyers are selected from the nominations of professionals at a wide range of chinese and international companies, law firms and other organisations.

vicky is a highly regarded litigator in cross-border commercial cases in bvi and cayman. significant wins this year have included acting for green energy giant trina solar as well as ai leader jing wang, formerly of baidu, in cayman. she has assisted clients with overturning injunctions in the bvi, helping secure domestic prc listings in contentious scenarios and securing asset recoveries for some of china’s leading financial institutions, blue-chip listed companies and ultra-high net worth individuals. one client commented “this accolade is well deserved. vicky is a commercially savvy lawyer and we achieved an excellent result because of her advice.”

ian is a leading offshore litigator who specialises in restructuring, insolvency, shareholder disputes and contentious trusts. he is a regular presenter to judicial, professional and academic bodies and is often asked to provide expert opinions on offshore law to various tribunals. ian is a co-author of both of the leading offshore textbooks on british virgin islands commercial law and bermuda commercial law and is a contributor to the offshore litigation blog.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes, winning keynote victories for its clients and often helping to shape the law. offshore litigation, insolvency and asset recovery are core areas of specialisation, with teams spanning the shanghai, bvi, the cayman islands, luxembourg, london, hong kong and cyprus. the firm provides clear, timely and innovative solutions for clients in complex multi-jurisdictional disputes.

harneys is pleased to announce that henry mander is the new global practice head of trusts and private client, litigation team members john mccarroll and chris pease have been promoted to partner, and there are seven additional promotions to counsel.

henry mander leads our bvi and cayman islands trusts practice and is an expert on all aspects of trust law in these jurisdictions. he works with both private and institutional clients, including banks and trust companies, across a broad range of trust and estate planning work, including the creation, administration and termination of complex international trusts.

john mccarroll is a member of our british virgin islands litigation team. john, who has been a silk since 2013, specialises in advocacy. he acts and advises is all areas of commercial work with a particular emphasis on shareholder disputes, restructuring, trusts, fraud and asset recovery.

chris pease advises on all aspects of commercial disputes and insolvency matters, with a particular specialism for: disputes concerning fraud and bribery; asset recovery; applications for interim injunctive relief; and applications for pre-action and third-party disclosure.

in addition, we have seven promotions to counsel: kimberly crabbe-adams, sonia hamshaw, valentina hadjisoteriou, james smith, and carolynn vivian.

chairman peter tarn commented: “i would like to congratulate everyone and welcome them to their new roles. each of them exemplify the personal qualities that underpin the firm’s core values and have demonstrated their ability to shape our future as a business. i look forward to watching their continued success.”

harneys is a global offshore law firm with entrepreneurial thinking built around professionalism, personal service and rapid response. open, progressive and personable, we provide advice on british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law to an international client base which includes the world’s top law firms, financial institutions, investment funds and private individuals. our network is one of the largest among offshore law firms, with locations in major financial centres across europe, asia, the americas and the caribbean, allowing us to provide services of the highest quality to clients in their own languages and time zones.

netjoy is a china-based digital marketing and advertising service provider, developing video marketing solutions and online content production. raily aesthetic is an aesthetic medical services provider located in zhejiang province, china, focusing on inpatient and outpatient cosmetic and beauty services. c&d is a bvi incorporated company providing property development, real estate management and investment services.

the harneys team was led by co-global head of corporate, raymond ng, with support from associate annie liu and legal managers denise chan and nicholas fong. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, also provided registered office and principal share registrar services for netjoy and raily aesthetic.

head of harneys’ transactional team in asia, paul sephton, commented: “we are delighted to close the year with these three leading transactions despite the challenging conditions. the ipo market has clearly been a bright spot in hong kong in 2020 and it’s fantastic that our market leading corporate team have been able to capitalise on this. our team continues to provide unrivalled cross-border advice to clients from a variety of industries and we enter 2021 with great optimism for another strong year for harneys in asia.” raymond ng added: “we are delighted to have acted successfully for our clients and are particularly pleased to have provided bvi advice to c&d, whose listing of a bvi company on the hkex is of particular note due to its rarity in the market.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

under the terms of the agreement, orix and ourcrowd will collaborate in agreed focus areas and will establish financial products and investment opportunities suited for the japanese and global markets. this will include curated access to both venture capital funds and individual portfolio companies on a deal-by-deal basis.

the harneys team was led by philip graham, global head of our investment funds and regulatory groups, who said: “advising ourcrowd since their launch in 2013 has always been an absolute pleasure and this deal has been particularly exciting. this collaboration will create a bridge between asia and israel, creating opportunities for innovation and growth in both markets.”

over the past several years, japan-israel trade has increased significantly with japan becoming one of the largest investors in israeli tech and with over 90 japanese companies now active in israel. orix and ourcrowd will work to further increase cooperation between the two countries and enhance opportunities for israeli startups throughout asia.

the bvi is one of the most popular jurisdictions for investment fund vehicles in the world with over 2,000 approved, registered and recognised funds with an estimated value of over us$300 billion. our market-leading bvi funds team is part of the global practice which advises on all aspects of the life of a bvi, cayman, cyprus of luxembourg domiciled fund vehicle, including formation, restructuring and closure, both in distressed and planned scenarios.

the acquisition gives launchmetrics access to parklu’s analytics, covering more than 100,000 influencers across china’s social media platforms, including wechat, douyin (tiktok), weibo, red (xiaohongshu) and bilibili. parklu’s ownership structure previously included a bvi company, and the harneys team assisted with the reorganisation of its capital structure and then its cross-border merger into a delaware entity.

the harneys team was led by partner george weston. we acted on instructions from us firm belcher, smolen & van loo llp.

george weston commented: “we are delighted to have assisted park-lu with the successful closing of this transaction, which illustrates our sustained cross-border, and tech sector, expertise.”

harneys corporate team regularly advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys acted as cayman islands counsel to china biologic products holdings, inc. (china biologic) on its take-private transaction valued at approximately us$4.76 billion.

founded in 2002 and headquartered in beijing, china biologic is one of china’s leading plasma-based biopharmaceutical companies. the company’s core business focuses on research and manufacturing of plasma-based products used for the prevention and treatment of diseases and medical emergencies.

the harneys team was led by partners julie engwirda, ian mann with support from partners paul sephton, raymond ng, lishi fong, and senior associate anya park. onshore us counsel included kirkland & ellis llp and wilson sonsini goodrich & rosati, with fangda partners providing prc counsel.

paul sephton commented: “we are pleased to have assisted china biologic on this successful transaction. this deal further highlights our team’s ability to provide unparalleled cross-border advice and service to our clients.”

harneys is a global offshore law firm with entrepreneurial thinking. experts in british virgin islands, cayman islands, cyprus, luxembourg, bermuda and anguilla law, our lawyers are consistently recommended by leading independent legal directories. we advise an international client base including the world’s top law firms, financial institutions, investment funds and private individuals. our network is one of the largest among offshore law firms, with locations in major financial centres in europe, asia, the americas and the caribbean, allowing us to provide services of the highest quality to clients in their own languages and time zones.

amongst the individual rankings, partner philip graham was recognised as a leading individual and counsel joshua mangeot was ranked as a rising star.

a client said: “they are the team for regulation in the bvi, and i have also had excellent experiences with them elsewhere globally. [they are] smart, effective and proactive.”

global head of our investment funds and regulatory groups and head of our transactional team in the bvi, philip graham said: “this is an outstanding achievement for our team to be the sole firm ranked in the top tier for this important category. as one of the only offshore law firms in the caribbean with a standalone regulatory practice covering the bvi, we pride ourselves in delivering top-notch, tailored services and we are honoured that our clients are pleased with the results that we deliver.”

as a law firm and fiduciary services business that started in the british virgin islands and celebrates its 60th anniversary this year, harneys has grown in tandem with the bvi’s own development and increasing importance to the international economy as a leading offshore financial services centre. with offices in over 10 locations across the globe, we are recognised internationally as an export brand from the bvi and at our core, remain a bvi firm.

harneys bvi dominates the legal 500 rankings by remaining in the top tier across banking, finance and capital markets; dispute resolution; investment funds; real estate; and trusts/private client. the firm is also the only firm in the bvi to be ranked in the top tier for the new category, regulatory and compliance.

in the bvi, partners tanya cassie-parker, philip graham, claire goldstein, and hendry mander are recognised as leading individuals. partners michelle frett-mathavious, george weston, and jonathan addo are ranked as next generation partners. counsels christopher pease, and joshua mangeot are noted as rising stars.

clients describe the firm as: “[a] very strong team of professionals with excellent technical knowledge and exceptional attitude to clients. providing highest level of service, exceptionally well at working under pressure, always meeting their deadlines, and never letting clients down.” multiple sources also state harneys as their “first choice for advice and assistance on trust/private client matters in the british virgin islands.”

bvi managing partner, tanya cassie-parker said: “we are honoured to continuously be recognised for our first-class service, high level of expertise and years of experience. we are also extremely humbled by the feedback given by our clients and are pleased that we remain their top pick. all credit goes to our fantastic and hard-working team of partners and staff who, despite the challenges that this year has brought, remain unwavering in their commitment to excellence.”

harneys is the bvi's largest law firm with dedicated practice groups for all areas of commercial legal practice, each led by experienced, market-leading professionals. harneys, which celebrates its 60^th anniversary this year, was the first legal practice in the bvi, and continues to be an industry leader by a wide margin.

we are proud to announce the inaugural launch of our tech accelerator program, designed to support tech innovators and professionals with free legal advice and trust company services as they prepare to launch a company or fund.

we are encouraging start-up funds and emerging growth companies to apply to receive up to us$25,000 of combined legal fees from harneys law firm and trust company services from harneys fiduciary. they will also be mentored by our expert lawyers who will help guide, support and take under their wing the successful candidate.

the bvi continues to prove itself as a jurisdiction that supports innovation and is constantly adapting its regulatory framework to allow it to stay ahead in this evolving digital era. the recent regulatory sandbox regime that came into force on 31 august 2020 is designed to foster the growth of fintech related businesses and provides a testing ground for start-ups in the jurisdiction.

partner philip graham commented: “in a world where start-up funds and tech innovators are driving economic growth, we are delighted to be able to support them through the harneys tech accelerator program and help bring the next big idea to life.”

we are looking forward to hearing from the latest and greatest tech innovators and professionals as they prepare to launch their company or fund. interested candidates can apply by filling out a simple form, outlining key details of their business idea. applications will be accepted up until 10 december 2020, after which a shortlist will be announced.

harneys acted as cayman islands counsel to shimao services holdings limited (shimao services) on its spin-off and separate listing on the main board of the hong kong stock exchange on 30 october 2020, raising approximately us$730 million in net proceeds. the ipo was sponsored by china international capital corporation hong kong securities limited and morgan stanley asia limited, who also acted as joint global coordinators alongside goldman sachs (asia) l.l.c. and the hongkong and shanghai banking corporation limited.

shimao services is a leading comprehensive property management and community living service provider in china. with a track record of over 15 years in providing property management services and various value-added services in china, shimao services has grown its presence nationwide, covering 108 cities across 26 provinces in china as of 30 june 2020.

the harneys team was led by partner raymond ng with support from legal manager denise chan. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provided registered office and principal share registrar services. onshore legal counsel to shimao services comprised sidley austin and commerce & finance law offices, while allen & overy and tian yuan law firm acted for the joint sponsors, the joint global coordinators and the underwriters.

raymond commented: “we are pleased to be involved in the separate listing of shimao services, which becomes the latest household name to be spun off from traditional property developers. the listing marks the 10th successful ipo for our asia transactional team this year, affirming our unrivalled expertise and client service in this space.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys has developed an economic substance reporting solution to assist trust companies with their bvi economic substance reporting into boss.

the reporting solution is designed to help trust companies:

• assess the position of all of the entities in their portfolio
• determine which entities are in-scope
• identify the additional information that is required for each entity
• gather any missing data
• conduct a bulk data upload into boss

the reporting solution allows for the information to be collected in one seamless step. all the data is stored in a secure, confidential and encrypted format and can easily be downloaded to allow the trust company to update their records and to allow for a simple bulk upload into the boss(es) portal.

to find out more information or to use the reporting solution, contact us here.

global offshore law firm harneys marks its 60-year anniversary in tandem with the 15-year anniversary of its hong kong office.

in 1960, a lawyer named harold harney set up shop on a small island in the caribbean. it was the only legal practice on the island of tortola, and the first of its kind that the british virgin islands had ever seen. this is how harneys, today a law firm with a sister fiduciary business, employing more than 500 people in over 10 locations around the world, came to be.

since its founding, harneys has remained at the forefront of the development of offshore jurisprudence and consistently advises on legislative developments such as the bvi’s landmark international business companies act, the limited partnership act, and the economic substance (companies and limited partnerships) act, to name a few. in 1974, harneys’ associated corporate and private wealth services business, harneys fiduciary, was established to provide clients with integrated legal and administrative support. sixty years later, harneys stands on the global stage as a leading law firm, consistently listed, awarded and ranked amongst the best and brightest in the offshore industry.

chairman peter tarn said: “when i joined the firm in 1997, there were around 15 lawyers in the bvi and no foreign offices, which is chalk and cheese compared to our global offering today. it is impossible for me to consider harneys’ history without thinking about the contributions of harold harney, michael riegels, neville westwood, richard peters and lewis hunte to the development of the offshore world and i am delighted that their devotion towards pushing legislation forward continues at harneys today.”

by the late 90s, harneys’ lone bvi office had grown to 18 lawyers, with a litigation team of only two. it wasn’t until 2002 that harneys would expand outside the bvi, opening its london office, closely followed by the hong kong office in 2005. since then, the harneys network has become one of the largest among offshore law firms, with over 170 lawyers located in major financial centres across europe, asia, the americas and the caribbean.

in recognition of the fifteenth anniversary of the firm’s hong kong office, asia managing partner ian mann commented: “the office has grown significantly since its launch in 2005. we are excited to expand into new areas, and strive to be a growing part of the region, including the greater bay area where new tech and innovative businesses are expanding.”

in 2000, the firm instituted the first legal training programme of its kind in the bvi for newly qualified lawyers. following its inception, the programme has graduated more than two dozen lawyers, many of whom have gone on to succeed not only at harneys, but at other law firms and in the judiciary.

bvi managing partner tanya cassie-parker said: “i’ve been with harneys since 1999 and it fills me with great pride to assume a supportive and mentorship role to the young talent that we have coming up in the firm. i was a beneficiary of mentorship when i joined harneys, and i am pleased to see the cycle continuing. i think that’s a legacy we have every right to be proud of.”

in december 2018, new legislation was passed by the bvi government that introduced increased economic substance requirements. from this, harneys’ latest legaltech product was born: the economic substance classification solution. the automated classification solution provides tailored real-time legal advice, generated instantly after completion of an interactive questionnaire. the solution is currently shortlisted for legal week’s international law firm innovation award, with the winner to be announced in october 2020.

as well as pioneering in the legaltech field, harneys is also leading the way on diversity in the offshore industry. more than a third of partners at harneys are female and it was recognised as “the most diverse offshore law firm” by the lawyer in its 2019 offshore report.

in addition to developing the legal industry, harneys extends beyond just business, investing in its community, both locally and globally. with a decades-long professional and personal connection to the bvi, harneys offices across the globe contributed to rebuilding efforts after hurricanes irma and maria, donating both time and financial resources.

tarn added: “our resilience as a firm was highlighted during hurricane irma in 2017; despite the devastating impact, i was incredibly proud of the way the firm came together and looked after each other whilst helping rebuild in our community. harneys was grown, and has its home, in the bvi. we are unique in that – a small legal practice in the bvi has gone global. that is an extraordinary thing and i am honoured to be a part of it.”

to mark harneys’ diamond jubilee, a dedicated history section has been added to the firm’s website at www.harneys.com/history.

fulu holdings limited is a leading third-party virtual goods and services provider in china. the company’s platform facilitates the business to business sale of virtual goods and generates revenues through sales channels and services to vendors.

the harneys team was led by partner raymond ng with support from legal manager nicholas fong. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provided registered office and principal share registrar services. onshore legal counsel to fulu holdings comprised latham & watkins llp and cm law firm, while wilson sonsini goodrich & rosati and tian yuan law firm acted for cmbic.

raymond commented: “we are delighted to assist fulu holdings limited on its successful ipo. we continue to see increased investor interest in the hong kong stock market, with a particular interest in the technology industry. the completion of this ipo further highlights our team’s unparalleled capabilities and expertise within this space.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

as permitted by the terms of the registration statement issued by galactic and pursuant to the distribution and sale arrangements agreed between credit suisse securities llc and vieco 10 sold 37,500,000 shares of common stock in galactic registered for sale. the total amount raised was in excess of us$560 million.

rachel graham, corporate partner in harneys london office, advised vieco 10 limited as to matters of bvi law.

harneys corporate team excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. our significant track record includes complex mega-deals, high value private equity transactions, landmark ipos and the full spectrum of public and private m&a, asset sales and disposals, and joint ventures.

partner rachel graham, who led the harneys team, commented: “it has been a pleasure to work with the virgin group and their excellent teams of onshore advisers at herbert smith freehills and allen & overy on this important transaction, which by its very nature was complex. it involved a large number of interested and competing parties and had to be completed within a short timeframe. this is another example of harneys wide bench of knowledge and confirms yet again our ability to act on complex and time sensitive restructuring transactions, something we are seeing more and more of in the current environment”.

our dedicated global restructuring practice group offers specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. led by a team of ranked partners, the group works closely with our transactional, litigation, funds, trusts, tax and regulatory teams, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.

xpeng motors is one of china’s largest electric vehicle manufacturers, headquartered in guangzhou, china. with two smart cars currently on the market, the startup is a strong contender set to intensify competition within the electronic vehicle industry.

harneys’ associated corporate and fiduciary services arm, harneys fiduciary, also assisted with the transaction. simpson thacher & bartlett llp provided us legal counsel.

head of harneys’ transactional team in asia, paul sephton, commented: “our team is highly qualified to advise on complex cross-border transactions, and the successful completion of this ipo further highlights our ability to provide unparalleled service to our clients.” partner raymond ng added: “we congratulate xpeng motors on its highly successful ipo and are pleased to see such strong investor interest.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

designed by harneys lawyers and developed in house, the solution was created as a direct response to legislative change in the british virgin islands when in 2019 it became compulsory for all bvi entities to conduct a classification exercise and determine their ongoing regulatory burden under new economic substance laws. with the vast number of active bvi companies on one of the world’s largest and most successful registries, harneys moved quickly to support the market.

philip graham, the firm’s global head of investment funds and regulatory, commented: “our team was able to create a highly innovative legal tech product that delivers real time results – a true pioneering move for the bvi jurisdiction. this product is a superb example of our team thinking outside the box of conventional legal services and seizing an opportunity to disrupt the market. we are extremely honoured to be shortlisted and look forward to the virtual award ceremony in october.”

the solution provides an automated and cost effective way for bvi entities to demonstrate formally that they have considered their position under the economic substance legislation and determine whether they are conducting a relevant activity. classification results and legal advice are generated instantly after completion of an interactive questionnaire.

the solution was launched through harneys online portal in june 2019 and has english, simplified chinese and spanish language capability.

adtiger corporations is an online advertising platform that connects advertisers with media publishers and primarily provides overseas online advertising services to china-based advertisers. archosaur games is a leading games publisher in china focusing primarily on mobile mmorpg (massively-multiplayer online role-playing games). shanghai-based ganglong china property is an established property developer in the yangtze river delta region focusing on the development and sales of properties predominantly for residential use mixed with accompanying ancillary facilities.

the harneys team was led by partner raymond ng, with support from senior associate jessie xu, associate annie liu and legal manager denise chan. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provides registered office and principal share registrar services to all the issuers.

raymond commented: “we are pleased to begin a busy summer with the completion of these three ipos. with investors’ continuing interest in the hong kong stock market, we expect a strong pipeline in equity fundraising for the remainder of the year. our unique physical presence in both hong kong and shanghai enables us to stay close to our clients in china and to optimise our resources across the region. this successful transaction is a testament to the firm’s ability to provide a comprehensive and seamless service to our clients.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

harneys is pleased to welcome new senior associates emerging from the firm’s annual mid-year promotions.

our new senior associates are:

natalie lee from hong kong litigation and insolvency; and marina tse from hong kong banking and finance.*

chairman peter tarn commented: “each promotion is a reflection on what the employee has achieved so far while at the firm, but far more important, is what we believe they will achieve in the future. we wish them the best of luck in their new roles.”

harneys is a global offshore law firm. we provide the world's top law firms, financial institutions and corporations with legal services relating to bermuda, british virgin islands, cayman islands, cyprus and anguilla law. for more information about harneys please visit harneys.com.

harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world. for more information about harneys fiduciary, please visit harneysfiduciary.com.

*promotions for harneys employees based in the cayman islands and hong kong are subject to immigration and regulatory approval.

nick joined harneys in 2017 and heads our litigation, insolvency and restructuring practice in the cayman islands. he specialises in insolvency and restructuring, financial services litigation, company disputes and fraud. nick has been practising in the cayman islands for almost 10 years and is widely regarded as a highly skilled and leading litigator, praised by clients as a smart and energetic lawyer who gives clear and decisive advice.

chairman peter tarn commented: “nick is well positioned to deliver our cayman islands strategy and we are delighted that he has agreed to take on the position of office managing partner. he is recognised by clients as an excellent strategist who is able to handle challenging, fast-moving situations with real skill. we are confident that these attributes will enable him to transition successfully to his new leadership role.

i would like to thank marco for his tremendous contribution to the firm over the past 13 years. marco joined harneys in 2007 and practised in our british virgin islands office before relocating to the cayman islands and becoming managing partner of our cayman office in 2012. he has lead and been instrumental in developing our incredibly strong latin america practice.”

harneys has been operating in the cayman islands for over a decade and we have established a strong presence in the market. we provide a full range of legal services in the areas of investment funds, private equity, corporate and m&a, finance and banking, trusts and private wealth, and litigation and insolvency.

*subject to cayman islands immigration and regulatory approval.

shanghai-based hygeia healthcare is the largest oncology healthcare group in china with a nationwide footprint of oncology-focused hospitals and radiotherapy centers. it operates a network of 10 oncology hospitals in six provinces in china, providing over 2,000 beds. the public offering in hong kong was oversubscribed by over 600 times, with morgan stanley and haitong international securities acting as joint sponsors for the ipo.

the harneys team was led by partner raymond ng, with support from legal manager denise chan. harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provides registered office and principal share registrar services to hygeia healthcare. raymond commented: “we congratulate hygeia healthcare for its highly successful ipo. with increasing demand in china, hygeia healthcare endeavours to make oncology healthcare services more accessible and affordable, and we are delighted to be part of the ipo team that helps achieve such target.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

nancy is a partner in harneys transactional practice group and has extensive experience advising in the fields of banking and finance, corporate and capital markets transactions. her clients include major international banking institutions and multinational companies with listings on stock exchanges.

iflr1000’s list highlights leading female transactional lawyers from around the globe. the lawyers chosen have impressive track records and are consistently recommended by clients and peers for the quality of their advice and service. find the full iflr1000 women leaders 2020 list here.

cyprus managing partner, pavlos aristodemou, said: “nancy is a highly skilled lawyer respected by her peers and represents an example of leading women in business and a role model for younger lawyers. i would like to congratulate her for this important recognition.”

as the only international multi-jurisdictional law firm with a physical presence in cyprus, harneys provides unrivalled service to clients throughout the world, particularly for complex and cross-border disputes. cyprus is the premier hub for international business opportunities in the mediterranean and one of the top venues for the incorporation and establishment of businesses across europe.

harneys is pleased to have advised caribbean investment holdings limited (london - aim: cihl; bermuda - cihl) (cihl) on its acquisition, by way of statutory merger, of normandy limited (bermuda - norl.bh) (normandy). cihl is the owner of the largest full service commercial and retail banking operation in belize.

counsel thomas dugdale commented: “the bvi statutory merger regime is efficient and provides clients with certainty on process and remains one of the big draws of bvi business companies. this is supported by the bvi registry whose premium filing service allowed us to complete the merger in a matter of minutes ensuring the necessary announcements and de-registration of normandy from the bermuda stock exchange could take place in a timely fashion. we would like to thank cihl and the deal team including baker & mckenzie llp, cenkos securities plc acting as nomad and appleby (bermuda counsel).”

the harneys team was led by counsel thomas dugdale. harneys’ corporate team regularly advises on m&a transactions between listed companies under british virgin islands law.

the official cihl press release can be found here.

legend biotech is a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. earlier this year, harneys also acted for legend biotech in relation to its approximately us$160 million pre-ipo financing from investors, including hudson bay capital management and the venture capital arm of johnson & johnson.

the harneys team was led by partner raymond ng, with support from legal manager nicholas fong (in relation to the ipo) and associate annie liu (in relation to the pre-ipo financing). harneys’ associated corporate and fiduciary services arm, harneys fiduciary, provides registered office and share registrar services to legend biotech.

raymond commented: “we are pleased to be involved in the successful closing of legend biotech’s ipo. with the world seeking a recovery following the pandemic, we continue to see strong investor’s interest in biotech and healthcare companies.”

harneys corporate team advises on complex cross-border transactions involving british virgin islands, cayman islands, luxembourg and cyprus corporate vehicles. the firm’s significant track record includes advising on high profile private equity transactions, landmark ipos, as well as public and private m&a and joint ventures.

the loan was made to a bvi incorporated 100 per cent owned non-operating subsidiary of polaris that holds all of the equity of its operating run-of-river hydro projects in peru, including the canchayllo (5 mw), el carmen (8 mw) and the 8 de agosto (20 mw) projects. harneys advised on the bvi aspects of the deal, including bvi security and a pre-closing corporate reorganisation. harneys previously advised polaris on its 2018 acquisition of 100 per cent of the issued and outstanding shares of union energy group corp.

the harneys team was led by partner george weston, with support from associate ian chambers. george weston commented: “we are delighted to have assisted polaris with the successful closing of this finance transaction, which illustrates our continued strength in cross-border corporate finance. we have seen an increase in the use of bvi vehicles in the renewable energy sector in the last few years, particularly in central and latin america, and recently established a dedicated sector group.”

harneys acted on instructions from canadian firms borden ladner gervais llp on the financing and cassels brock llp on the reorganisation. hernandez & cía advised polaris on the peruvian aspects of the transaction.

harneys has extensive experience in both the wider energy sector and specifically in the renewable energy sector, and has worked on a number of esg initiatives where clients explore socially conscious and environmentally sustainable projects, using offshore companies. the firm’s global team of lawyers advise on a variety of renewable energy financing and acquisition projects, including joint ventures, m&a transactions and debt and equity capital raises.

harneys is proud to announce that, partners ian mann and nicola roberts were recognised in doyle's list of leading estates, probate & succession litigation lawyers in hong kong.

the 2020 list details solicitors practising in contested estates, probate and succession law matters in the hong kong legal market who have been identified by their fellow hong kong-based lawyers and barristers for their expertise and abilities in these areas.​

ian mann is the firm’s asia managing partner and a member of its litigation, insolvency and restructuring group in hong kong. ian specialises in restructuring, insolvency, shareholder disputes and contentious trusts. nicola roberts is a partner and head of the firm’s litigation, insolvency and restructuring group in singapore. she also leads harneys’ trusts and private client advisory group in asia.​

these recognitions are testament to ian and nicola’s dedication and hard work and harneys is delighted for them. ​

find the full list of leading estates, probate & succession litigation lawyers – hong kong, 2020 here. ​

harneys’ asia practice is known as one of the most dynamic and fastest growing offshore legal teams in the region. the firm’s three full-service offices across hong kong, singapore and shanghai represent the largest asia network of any offshore law firm. its shanghai practice remains the only full-service offshore legal team on the ground in mainland china. ​

the list comprises asia’s standout lawyers from offshore law firms who have exceeded client expectations.​​

asia managing partner ian mann said the key to success includes “having a strong client focus, delivering first-class advice and surrounding yourself with some of the brightest, most talented and passionate minds in the business.” this is ian’s fifth consecutive year of recognition.​​

maggie kwok, head of the firm’s funds and regulatory group in asia, believes “investing time to get to know your client, their business and objectives and being able to develop a strong relationship with them goes a very long way.”​​

harneys is delighted for ian and maggie to receive credit for their ongoing hard work and commitment to excellence on behalf of the firm’s clients.​​

find the full offshore client choice list 2020 here. ​​

harneys’ asia practice is known as one of the most dynamic and fastest growing offshore legal teams in the region. the firm’s three full-service offices across hong kong, singapore and shanghai represent the largest asia network of any offshore law firm. its shanghai practice remains the only full-service offshore legal team on the ground in mainland china. ​​

the harneys team acted as cyprus counsel and was led by senior associates valentina hadjisoteriou and sonia hamshaw, and associate marissa christodoulidou. harneys’ corporate team regularly advises companies of all shapes and sizes on international investments.

cyprus managing partner pavlos aristodemou commented: “this was a very demanding transaction undertaken during the covid-19 lockdown. despite a global shift in the work environment, the talented members of our corporate team demonstrated their flexibility, endurance and dedication, having successfully finalised the transaction within 10 days of documents being provided.”

as the only international multi-jurisdictional law firm with a physical presence in cyprus, harneys provides unrivalled service to clients throughout the world, particularly for complex and cross-border transactions. cyprus is the premier hub for international business opportunities in the mediterranean and one of the top venues for the incorporation and establishment of businesses across europe.

harneys advised long term clients command alkon and quilvest capital partners on the bvi aspects of thoma bravo’s acquisition of command alkon from quilvest and related corporate reorganisation. harneys acted on instructions from dechert llp.

the deal was originally announced 31 march 2020 and the closing was announced on 23 april 2020.

partner george weston led the harneys team advising command alkon. he commented: “this deal highlights the strength of our private m&a practice, and our high-end corporate expertise. this was a complex transaction with significant bvi aspects, and closing it during a period of global turbulence is a testament to the resilience of the jurisdiction.”

a separate team led by partner phillip graham advised quilvest. paralegals vivienne davis-percival and natalee christopher also assisted with the transaction.

command alkon is the leading supplier collaboration platform for construction’s heavy work. command alkon is headquartered in birmingham, alabama and has offices in locations around the globe.

harneys is pleased to announce the successful continuation of caribbean investment holdings limited (london - aim: cihl; bermuda - cihl) (cihl) from belize to the british virgin islands. the continuation of cihl, the owner of the largest full service commercial and retail banking operation in belize, once again showcases the attractiveness of the british virgin islands as a jurisdiction.

counsel thomas dugdale commented: “this continuation is a major endorsement of the british virgin islands as a premier offshore financial centre with a well-developed legal system which allows companies to flourish in a world-leading regulatory regime. it is also a testament to the bvi registry that even in the middle of the covid-19 outbreak the process was seamless. using the premium filing service, the continuation was complete in a matter of hours and allowed cihl to announce the continuation at market open the following day. we would like to thank cihl as well as the other advisers on this matter, including baker & mckenzie llp, eversheds sutherland and cenkos securities plc acting as nomad.”

the harneys team was led by counsel thomas dugdale. harneys’ corporate team regularly advises companies of all shapes and sizes on continuations under british virgin islands law.

the official cihl press release can be found here.

cyprus managing partner pavlos aristodemou was inducted into the hall of fame for his banking and finance expertise.

partner nancy erotocritou was ranked as a leading individual for her banking and finance and commercial, corporate and m&a expertise, whilst partner demetris loizides was recognised for his commercial, corporate and m&a expertise.

senior associate sonia hamshaw and associate marisa efstathiou petevi were acknowledged as rising stars for commercial, corporate and m&a, and tax respectively.

clients credit the harneys team with providing advice that “meets and sometimes exceeds the standards of much larger and well established international law firms”.

pavlos aristodemou commented: “we are delighted to have been recognised in the legal 500 rankings for our expertise in cyprus. our team takes pride in our ability to advise multinational corporations on large acquisitions and complex international transactions.”

vicky joined the firm in 2014 and has a wide breadth of experience as a litigator in the most complex, high-value, high-profile commercial offshore disputes with cross-border elements. as a practising barrister, she plays an instrumental role advising on shareholder disputes, insolvency, enforcement and commercial litigation matters and has considerable experience advising on contentious trust matters.

vicky’s client base includes the world's best-known financial institutions, blue-chip listed companies and ultra-high net worth individuals. moreover, she has extensive experience acting for trustees, beneficiaries and third parties across a range of complex disputes. she is a trusted advisor to chinese clients dealing with large and complex british virgin islands and cayman islands cases and is recognised in who’s who legal 2019 as a global thought leader in asset tracing. clients say vicky is an “an exceptional tactician” who “goes above and beyond to secure the best results” for them.

ian mann, asia managing partner, commented: “vicky is an accomplished lawyer and has contributed greatly to our success within the asian market, particularly by expanding our offering in china. she is well-equipped for this role and i have no doubt that our success in shanghai will continue to grow under her leadership.”

harneys’ network is 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 a commitment to absolute quality, unparalleled responsiveness, and client service.

thomas dugdale, a member of the firm’s investment funds team, represented harneys at the ceremony which was held in london on 26 february.

the hedgeweek european awards replace the previous global awards in which harneys was named best offshore law firm for three consecutive years. the awards recognise excellence among hedge fund managers and service providers. winners were selected by a peer review survey of hedgeweek readers which included industry professionals at hedge fund management firms, investors, fund administrators, custodians, accountants and auditors, law firms, consultants and fund distributors.

joint global head of harneys investment funds, philip graham, commented: “we are delighted to receive this award, which continues to demonstrate the strength and reputation of our global funds team. we would like to thank our clients and industry peers for nominating us.”

harneys advises on all aspects of the life of a bvi, cayman, cyprus or luxembourg fund including formation, restructuring and closure, both in distressed and planned scenarios. harneys funds lawyers work alongside harneys fiduciary, the firm’s associated corporate and fiduciary services arm, providing clients with an integrated legal and administrative service.

harneys has been recommended for its british virgin islands, cayman islands and anguilla expertise in the chambers global 2020 guide.

the firm has been recognised for its corporate & finance and dispute resolution practices in the bvi and cayman islands, and investment funds practice in cayman. in addition, harneys remains the only law firm listed for its anguilla general business law expertise based abroad.

british virgin islands

harneys partners philip graham and george weston are highlighted as experts in corporate & finance. partners claire goldstein, and phillip kite have been recognised for their dispute resolution experience.

a source commented: “they are extremely knowledgeable – they really know the courts and are really on top of the law. i've always got a good service from them.”

bvi managing partner, tanya cassie-parker said: “our lawyers are dedicated to providing our clients with a high-quality, personal and timely service. we are always delighted to receive positive market feedback and we are particularly proud to maintain our band 1 position for corporate & finance in the bvi.”

cayman islands

partners nick hoffman, william peake and jayson wood are recognised for excellence in dispute resolution. partner lewis chong is noted for his investment funds knowledge.

a market observer stated: “the team is very strong in balancing commercial concerns with best-in-class legal advice. they maintain legal integrity while producing a highly compelling product and service for clients.”

anguilla

chambers said: “the firm continues to be regarded as the leader for anguilla offshore work.”

harneys corporate team excels at complex cross-border transactions involving bvi, cayman islands, luxembourg and cyprus vehicles. the firm’s banking and finance team has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives. harneys litigation, insolvency and restructuring team has a reputation for providing clear, accurate and timely advice to clients and works almost exclusively with high-profile, high-value, multi-jurisdictional disputes and restructurings. the firm’s investment funds team advises on all aspects of the life of a bvi, cayman, cyprus or luxembourg fund including formation, restructuring and closure, both in distressed and planned scenarios.

harneys advised new frontier corporation on its us$1.3 billion acquisition of united family healthcare, one of the largest premium private healthcare operators in china.

harneys advised sensetime group inc., the world’s leading artificial intelligence platform company, on its series c prime financing. prior to the financing, the company was valued at us$7 billion. local counsel llinks law offices led the transaction and harneys acted as cayman counsel.

harneys represented fosun tourism group, the largest tourism resort group in the world by revenue and subsidiary of fosun international. the company was listed on the hong kong stock exchange in december 2018 with an ipo of us$428 million. partner raymond ng acted as cayman counsel.

head of transactional asia, paul sephton, said: “these awards highlight the outstanding performance of our asia teams who have acted on a number of ground breaking deals both in china and elsewhere. i thank our clients for their support and congratulate each of the lawyers who worked on these transactions.”

the china business law journal’s awards are presented annually and are based on hundreds of nominations from in-house counsel and other qualified observers, and research conducted by china business law journal’s editorial team. a complete list of the winners and more information about the awards can be found here.

harneys’ asia practice is known as one of the most dynamic and fastest growing offshore legal teams in the region. the firm’s three full-service offices across hong kong, singapore and shanghai represent the largest asia network of any offshore law firm. its shanghai practice remains the only full-service offshore legal team on the ground in the prc.

harneys is proud to announce that it has become an insol g36 member.

insol international is a world-wide federation of national associations for accountants and lawyers who specialise in turnaround and insolvency. the group of 36 (g36) was formed as the principle sponsorship vehicle for insol international, enabling it to carry out its collaboration on major projects and publications.

harneys has been at the forefront of the development of offshore jurisprudence for decades and has been involved in the most significant global disputes winning keynote victories for its clients and often helping shape the law. the firm has acted in some of the largest and most complex cross-border restructurings and insolvencies of recent times. harneys’ growing team spans the bvi, cayman, hong kong, london, shanghai and singapore. the firm has a reputation for providing clear, accurate and timely advice to its clients and its work is almost exclusively connected with high-profile, high-value, multi-jurisdictional disputes and restructurings.

view harneys' insol profile here.

download the g36 brochure here.

the asia team has been credited as “user-friendly” with a “good name in the market” and is noted for being “on all of the major banks panels.” in addition, a source said: “the firm has significant bandwidth on the banking and finance front.”

the following partners have been ranked “leading individuals”: asia managing partner ian mann, who is noted by sources as a “standout lawyer”; partner raymond ng who is recognised as, “commercial, practical and efficient”; head of the firm’s asia restructuring practice, chai ridgers; and the “technically strong and responsive” paul sephton who is head of the firm’s transactional team in asia. other key lawyers highlighted in the review include: partners paula kay, the firm’s new head of litigation in asia, monica chu, maggie kwok; and senior associate ian clark.

ian mann said: “we are delighted with the client testimonials and feedback from our in-house peers. our lawyers are committed to delivering an exceptional and timely service to our clients.”

harneys is one of the most dynamic and fastest growing offshore law firms in asia. the firm’s hong kong team is the largest of any offshore law firm, while its shanghai and singapore teams are both undergoing significant expansion. earlier this month, the firm announced the relocation of two key members of the firm’s litigation, insolvency and restructuring team to singapore in order to meet the growing client need in this expanding area in the region.

in her practice in the transactional team, lishi advises both financial institutions and corporates on a wide range of cross border transactions including financings involving multiple levels of creditors, distressed loan acquisitions and disposals, fund formations and downstream advisory and investment work. lishi is fluent in english, mandarin and cantonese.

additionally, nicola roberts, partner in the litigation, insolvency and restructuring team and head of the trusts and private client advisory group in asia, and jayesh chatlani, counsel in the litigation, insolvency and restructuring team, have relocated to the singapore office from hong kong. their relocation reflects the growing client need in this expanding area in the region.

nicola specialises in international contentious trust and estate disputes and global commercial litigation and insolvency. she has over 20 years’ experience as a contentious practitioner and more than a decade of offshore experience. she is routinely engaged in a wide range of complex cross border litigation. her expertise encompasses shareholder disputes, fraud and asset-tracing, contentious trusts as well as insolvency, restructuring and contentious regulatory advisory work.

jayesh is an expert in complex and often multi-jurisdictional shareholder disputes. his practice also encompasses funds litigation and valuation disputes involving both high-value private ventures and listed companies. he has practised at our firm in hong kong for seven years, advising both shareholders and corporations.

furthermore, we are pleased to announce that paula kay has been named head of litigation asia. paula joined our team in july 2015 and has extensive litigation experience, with a particular focus on high value, multi-jurisdictional shareholder disputes. in her new role, paula will work closely with our singapore litigation team to expand and enhance the practice, further cementing our position as one of the most dynamic and fastest growing offshore legal teams in the region.

ian mann, asia managing partner, commented: “lishi is an exceptional lawyer with long-standing connections and strong experience in this region. she is well respected and has contributed significantly to the growth and success of our singapore office. harneys is committed to singapore and growing our footprint in this region and globally. i am certain that, under her leadership, the singapore team will continue to grow and prosper. i would like to congratulate lishi on her promotion and wish her every success in her new role.”

lishi fong, managing partner of our singapore office, said: “the singapore office plays a key role in our firm’s asia offering. at harneys, we believe in being more than just legal advisors to our clients and we strive to be their strategic trusted partner - understanding their business, providing cost effective and innovative commercial solutions and growing with them. we deeply value creating an office environment where our lawyers can thrive, and as a fellow singaporean and a working mother with a young family, i am deeply honoured to have this opportunity to work with this incredibly talented team to grow our singapore practice.”

harneys partner raymond ng said: “the successful ipo of wise ally international holdings limited marks the completion of our first ipo in 2020. we are grateful for the support of the company and the professional parties, including bird & bird and deacons, throughout this project.” raymond led the team with the support of associate annie liu.

harneys named two new partners in our bvi office, hazel-ann hannaway and george weston, a new head of litigation asia, paula kay, and promoted 14 counsel and senior associate positions across our bvi, cayman islands, cyprus, hong kong and london locations.

hazel-ann hannaway is a partner in the litigation and insolvency practice group, specialising in civil, corporate and international litigation. her clients include local and foreign corporations and individuals from the major jurisdictions including europe, the far east and the united states.

paula kay is a partner and the head of litigation asia, based in our hong kong office. her practice focusses on high value, multi-jurisdictional shareholder disputes in offshore companies listed in hong kong or the us. her practice includes unfair prejudice claims, oppression claims and just & equitable windings up, as well as dissenting shareholder claims following “take-privates”. she also has particular expertise in obtaining freezing injunctions simultaneously across jurisdictions, working with large legal teams, often including multiple qcs.

george weston is a partner in the corporate practice group and advises on all aspects of bvi corporate and commercial law. he has particular expertise working with leading law firms and private equity investors on cross-border corporate acquisitions and joint ventures with a technology or real estate element, and is a leading member of our hospitality sector group.

we also announced the counsel promotions of joshua mangeot and christopher pease in the bvi; grainne king and charles moore in cayman; jayesh chatlani in hong kong; thomas dugdale, and francesca gibbons in london.

one of our associates was also promoted to senior associate level; anya park in cayman.

our chairman, peter tarn commented: “i would like to congratulate each and every one of our new partners, counsels and senior associates. their promotions are in recognition of what they have achieved at harneys to date as well as an indication of what we believe they will accomplish in the future.”

the promotions were effective from 1 january. in total we have 61 partners, 23 counsels and 37 senior associates across our international locations.

the appointments of grainne king and charles moore to counsel, and anya park to senior associate are pending approval by cayman islands immigration authorities.

harneys are proud to announce that we have been named corporate service provider of the year, litigation practice of the year, and tech savvy firm of the year, at the bvi financial services gala awards dinner held at scrub island resort in the british virgin islands on 28 november 2019.

we also won best corporate social responsibility award, and were recognised for our lifetime service to the bvi. for the individual category, shané rhymer, harneys compliance officer and mlro, tied with t’sa hodge of ogier for compliance officer of the year.

the gala was held in celebration of the 35^th anniversary of the bvi international business companies act. the event was an opportunity to reflect on the past, celebrate those who have contributed, and to reward those who have been vital to the industry.

tanya cassie-parker, harneys bvi managing partner commented: “thank you bvi financial services week committee for organizing this event in recognition of those that have helped set the standard for legal and financial services in the bvi. our award wins demonstrate the strong foundation and community ties that harneys has in the bvi. we are proud to be the first legal practice established in the bvi, and we continue to strive for excellence and innovation in the financial services industry.”

head of the firm’s transactional team in asia, paul sephton, commented: “we formed the asia special situations unit by tying together the specialist skills of our banking and finance practice along with our restructuring and insolvency practice to provide clients with a specialised resource to help them navigate this fast-moving and challenging environment. our team is well placed to advise clients on making key decisions at crucial moments in a transaction’s life-cycle.”

the team’s wide-ranging expertise includes advising on financings involving multiple levels of creditors involved with intercreditor and subordination arrangements, mezzanine and holding company financings, distressed loan acquisitions and disposals, last-mile financings, rescue financings, convertible debt instruments and acquisition financings of distressed assets.

harneys is one of the most dynamic and fastest growing offshore law firms in asia. the firm’s hong kong team is the largest of any offshore law firm, while its shanghai and singapore teams are both undergoing significant expansion. the firm’s asia litigation team remains unrivalled in terms of size, expertise and diversity of work, and is widely recognised as the lodestar of the offshore litigation landscape in the region.

harneys has been named best offshore law firm – client service at the hfm asia services awards 2019, which were held on 13 november in hong kong.

a few members of the hong kong team (left to right): oswald kan, maggie kwok, jacquelyn wong and lawrence sham.

the awards recognise and reward hedge fund service providers who have demonstrated exceptional client service, innovative product development and strong and sustainable business growth over the past year.

head of harneys’ transactional team in asia, paul sephton, commented: “we are delighted to receive this accolade which is testament to the efforts of our team of leading fund’s lawyers, who are dedicated to providing first class client service.”

the award affirms the strength and reputation of harneys’ asia funds practice, which is one of the most dynamic and fastest growing offshore funds teams in the region. earlier this year, our asia fund’s team took best offshore law firm at the hfm asia hedge fund services awards.

henry mander, head of the firm’s cayman and bvi trusts practice, has been named a “leading individual”; clients say he is “the ideal private client lawyer: a perfect blend of charm, understanding, legal knowledge and intellectual ability”. senior associate charles moore is noted as a “rising star”, clients have said he is “one of the up-and-coming players”.

nick hoffman, head of the firm’s cayman litigation, insolvency and restructuring group, has been recognised as a “leading individual”, and has been praised by clients for his ability to handle “challenging, fast-moving situations with real skill”. senior associate gráinne king is recognised as a “rising star”. a source has said the department is an: “experienced, commercial and easy-to-deal team that rivals the self-styled litigation elite in cayman, but without the fuss”.

harneys continues to build on its strong global presence, which drives a significant amount of business to the cayman islands. the firm is dominant in offshore litigation and restructuring, with a growing team which spans the bvi, cayman, hong kong and london. the firm also provides bespoke and innovative succession and wealth management solutions to a wide range of international clients.

the team has also completed sprocomm intelligence limited’s hong kong ipo on the same day. sprocomm designs, manufactures, and sells mobile phones across asia. it raises approximately us$16 million from the ipo.

harneys partner raymond ng commented: “harneys’ corporate team is known for its significant track record, particularly on hong kong ipos. we are delighted to have acted on these deals which highlight the expertise and capability of our hong kong practice, and are thankful to have worked alongside some prominent hong kong lawyers.”

the china feihe’s ipo was led by raymond and legal manager nicholas fong, and assisted by legal manager denise chan and associate annie liu. senior associate henno boshoff advised on the establishment of the family trusts. the sprocomm’s ipo was led by raymond and associate annie liu, and assisted by legal managers denise chan and nicholas fong.

lishi is a partner in harneys banking and finance practice group and head of the firm’s transactional team in singapore. she has “good communication skills and is a very personable individual. lishi is able to provide strong practical advice to clients on transactions,” said a client. her experience includes advising both financial institutions and corporations on a range of transactions including structured lending, leveraged finance, acquisition finance, pre-ipo finance, take-private transactions, trade finance, margin finance, capital call finance, property finance and syndicated lending.

asia managing partner, ian mann, said: “i am delighted for lishi on receiving this well-deserved recognition; she is a highly-skilled and well respected lawyer.”

in its fifth annual list, alb highlights 40 outstanding legal professional in the region who are under the age of 40. over the past year, the listed lawyers have worked on some of the most significant deals and disputes and have earned accolades from their peers, superiors and clients.

harneys in singapore offers a full range of contentious and non-contentious offshore legal services including corporate, banking, finance, investment funds, litigation, restructuring, private wealth and trusts.

for the eighth consecutive year, chambers has recommended harneys as a band 1 firm for offshore british virgin islands law. clients have said the firm is “very commercial and understand[s] the key points”, another interviewee stated: "they are our first choice for bvi transactions". the firm has also retained its band 2 ranking for offshore cayman islands law.

global head of the firm’s litigation, insolvency and restructuring group and managing partner of the london office, phillip kite, is noted for his experience in disputes in the bvi across areas including insolvency, shareholder disputes and trusts. partner indira birkwood is particularly sought after by banks for advice on bvi banking and finance transactions. market sources report: "she's responsive, knowledgeable and reliable. she's very quick, practical and solves problems." partner william peake is an experienced litigator whom clients turn to for his expertise in areas including liquidation and fraud. he specialises in cayman islands disputes. clients say he is "very easy to work with, very personable and pleasant," while market sources describe him as a "super operator," adding that "no one is willing to go further for his clients."

harneys has also been ranked in tier 1 by legal 500; clients have said: “harneys' london team is an outstanding, user-friendly, practical team of corporate lawyers and it is extremely helpful being able to consult them during london hours.” other sources have noted: “the litigation and insolvency team itself is made up of commercially astute lawyers whose advice goes beyond simple statements of the law, suggesting sensible business solutions.”

phillip kite, indira birkwood and william peake have also been recognised as leading individuals by legal 500. a source said: “william is undoubtedly one of the top cayman islands litigators. he is a true rainmaker, team leader, and client service ambassador.”

phillip kite commented: “we are proud of the service that our team provide to our clients and we hope that these rankings show why clients return to us again and again. we believe we have earned a dominant position in london, and will continue our mission to provide quality real time advice to our clients on bvi and cayman law.”

harneys’ london team comprises 14 lawyers, including seven partners. harneys network is one of the largest among offshore law firms, with locations in major financial centres in europe, asia, the americas and the caribbean, allowing the firm to provide services of the highest quality to clients in their own languages and time zones.

harneys cyprus is a leader in the jurisdiction, receiving a top tier ranking from iflr1000 for its financial and corporate practice.

partners pavlos aristodemou and nancy erotocritou have been recognised as “market leaders”; partners aki corsoni-husain and demetris loizides are “highly regarded” and partner george apostolou is a “notable practitioner.

according to iflr1000, harneys is “one of the strongest firms in cyprus thanks to its cross border capability and local law expertise”.

cyprus managing partner pavlos aristodemou said: “we are delighted to receive this top tier recognition from iflr1000. over the past year, we have continued to see a growth in the value and volume of work from clients; and testament to our unrivalled expertise, we remain on the recommended list of counsel for the jurisdiction for almost all of the magic circle law firms.”

as the only international multi-jurisdictional law firm with a physical presence in cyprus, harneys provides unrivalled service to clients throughout the world, particularly for complex and cross-border disputes.

harneys bvi continues to remain a leader in the jurisdiction, receiving a top tier ranking from iflr1000 for both its financial and corporate and investment funds practices.

partner philip graham is noted as a “market leader”; partners greg boyd, tanya cassie-parker and consultant colin riegels are “highly regarded”; and partner michelle frett-mathavious, together with counsels mirza manraj, george weston are recognised as “rising stars”.

bvi managing partner tanya cassie-parker said: “we are delighted to retain our top tier ranking which is testament to our unmatched knowledge and experience in the bvi. our clients continue to choose us for our attentive and personal service, the excellence of our work, and for our experience and leadership in the bvi.”

harneys is the bvi's largest law firm with dedicated practice groups for all areas of commercial legal practice, each led by experienced, market-leading professionals. harneys was the first legal practice in the bvi over 50 years ago and continues to be an industry leader by a wide margin. harneys has been instrumental in legislative developments including updated legislation for the approved manager regime, creation of the approved funds and incubator funds in 2015, and drafting the new limited partnership act which came into force in 2018. harneys also provides fiduciary services to our fund clients through our associated corporate, trust and private wealth services business, harneys fiduciary, and is one of the few law firms in the bvi to offer this type of service.

diana demercado is from cayman brac and expressed her excitement for winning the scholarship stating “i am honoured to be selected as the legal scholarship recipient, i know how competitive the market is and coming from such a small island as the brac, i am extremely grateful that they saw something in me and look forward to a bright future with the firm.”

the scholarship will cover the full length of the recipient’s bachelors and comes with a paid professional experience during their school breaks as an intern at harneys. during the months of july and august, diana participated in her first round of the internship programme where she worked alongside the dispute & resolution practice group. once diana has qualified with her postgraduate qualification she will be eligible to undertake articles of clerkship with the firm, which once complete will allow her to qualify as an attorney in cayman.

our international reach allows the group to support clients wherever they are worldwide in relation to both contentious and non-contentious trusts and succession planning matters, including complex tax and trusts structuring, cross-border probate, asset protection, and international trusts disputes.

harneys’ global trusts and private client practice has earned an international reputation for excellence due to its personal, commercially sensitive, and pragmatic approach. our lawyers are qualified in multiple jurisdictions and have joined harneys from leading international law firms. we have expertise in advising on trusts of all types including bvi vista trusts and cayman islands star trusts.

our clients include the world's leading law firms, multinational corporations, major financial institutions, and high net worth individual private clients. in asia, we regularly work with clients in the wealth management industry and are familiar with the needs of their businesses and underlying clients. while we do not advise on local law, we are aware of its implications, allowing us to provide offshore legal advice that complements and complies with local regulatory requirements.

our trusts lawyers work alongside harneys fiduciary, which provides a full complement of corporate, wealth and fiduciary services in the bvi and the cayman islands.

harneys’ asia trusts & private client advisory group will officially launch its new service at a cocktail function in september this year.

harneys’ es solution is a market leading response to the changes brought on by the new economic substance legislation and aims to support bvi entities through their classification process. all bvi entities are obligated to classify themselves to demonstrate formally that they have considered their position against the economic substance legislation. the advice issued via the portal is provided by harneys’ expert lawyers and will either demonstrate that the entity is fulfilling its regulatory requirements or provide the advice needed to do so. it can also be used to prepare the entity’s registered agent for its reporting obligations.

harneys’ chairman, peter tarn, commented: “the es solution is in high demand from clients as well as intermediaries using it for their reporting purposes. it represents the only practical and cost effective way in which most bvi companies can obtain the legal advice they need early enough in 2019 to give them their best chance of compliance with the new economic substance laws. i am incredibly proud of the team who have delivered it. “

to register your interest in using the bvi economic substance classification solution, to request a live demo or for pricing enquiries, please fill out our query form here.

harneys are delighted to have advised dxc technology (nyse: dxc) on its successful acquisition of luxoft holding, inc (nyse: lxft), the global digital strategy and software engineering firm by way of statutory merger under the bvi business companies act. at us$2 billion, this represents the largest ever (by value) take private of a british virgin islands publicly listed company.

we worked alongside and on instructions from a terrific team at latham & watkins llp, new york counsel to dxc. guggenheim securities and bofa merrill lynch acted as financial advisors to dxc.

the harneys team was led by corporate partner greg boyd with assistance from counsel george weston and associate ian chambers. the harneys corporate team routinely advises on the british virgin islands’ largest m&a deals and leading corporate transactions, underscoring our expertise and ability to get the deal done.

partner greg boyd commented: “once again the merger provisions under the bvi business companies act coupled with the efficiency of the british virgin islands registry of corporate affairs made for a very smooth transactional process. the merger was filed with the british virgin islands registry of corporate affairs at 8.30am this morning (14 june 2019) using the their premium filing service and was registered and a certificate of merger issued shortly thereafter enabling announcement of the completion of the transaction before the 9am market opening at the nyse.”

the official dxc press release can be found here.

the economic substance (companies and limited partnerships) act, 2018 (the act) was introduced in the british virgin islands, effective 1 january 2019, to address the concerns of the eu code of conduct group and the oecd forum on harmful tax practices regarding economic substance. related amendments to the reporting system under the beneficial ownership secure search system act, 2017 (boss) will implement an economic substance reporting regime.

the act introduces requirements for certain bvi entities that are carrying on one or more “relevant activities” in any “financial period” to have adequate economic substance in the bvi.

all bvi companies and other entities which are subject to the act need to consider the impact it will have and how to comply with the new legislation.

firm chairman peter tarn commented: “the solution is the first of its kind to provide automated legal advice on bvi economic substance requirements, delivering expert guidance in a cost effective and efficient manner.”

the bvi economic substance classification solution provides clients with a classification and tailored legal advice, based on the users input, in an interactive questionnaire format.

the questionnaire is divided into five sections:

• the user
• the entity
• relevant activity
• tax residency
• submission and output, providing an executive summary and key confirmations.

a full summary of the entity classification and legal advice will be available for download once the questionnaire has been completed.

it is due for release as soon as the bvi economic substance code is finalised. to register your interest in using the bvi economic substance classification solution, please fill out our query form here.

asian legal business compiles the offshore client choice list each year and highlights asia’s standout lawyers from offshore law firms. these are legal professionals who have not only met but also exceeded client expectations with their ability to provide sound advice and quality client service.

ian mann, asia managing partner and long-term head of asia litigation, insolvency and restructuring practice group, received the following client feedback “he and his team are very good at coming up with innovative solutions to achieve results where needed. you don't see this from most other lawyers.”

maggie kwok, partner in the hong kong investment funds practice group, received the following client feedback “whenever i need to draw on her expertise, i can email her and she will go the extra mile to be responsive. i’ve never seen another offshore lawyer so willing to go that extra mile.”

the alb offshore client choice list identifies the leading legal practitioners in offshore law based upon comprehensive, independent research.

find the full offshore client choice list 2019 here.

harneys partner demetris loizides led the team and commented: “we are delighted to have acted on this restructuring which showcased the expertise of our team.” the team also included senior associates valentina hadjisoteriou and sonia hamshaw.

firm chairman, peter tarn, said: “i would like to congratulate tanya on her promotion and wish her every success in her new role. i am certain that under her leadership, the bvi office will continue to grow and thrive as it serves our international client base around the globe. although colin will be greatly missed, i am pleased we have managed to entertain someone of colin’s intellectual calibre and inquisitiveness for so long.”

colin commented: “i have worked with tanya for just under 20 years now; she is a superb lawyer and manager. i feel very confident leaving the future of harneys in the bvi in her eminently capable hands.”

colin leaves the firm to return to the faculty of law at the university of oxford, where he will be undertaking his doctoral thesis on cross-border enforcement of security. colin will remain connected to harneys on a consultancy basis.

tanya joined harneys in 1999, specialising in aircraft finance and ship finance. prior to relocating to the bvi, tanya worked in the firm's hong kong office. today, she advises clients on various forms of corporate finance, including bilateral and syndicated loans, bond issues, project finance, property financing, lease finance and general aspects of banking and finance law.

tanya commented: “i would like to wish colin the best on his journey into academia, and to thank him for guiding the bvi office through the highs and lows of the last two years, in particular the very difficult period in the immediate aftermath of hurricane irma.”

harneys is the bvi’s largest and longest-established law firm, with dedicated practice groups for all areas of commercial legal practice, each led by experienced, market-leading professionals. harneys also provides fiduciary services to our clients through our associated corporate, trust and private wealth services business, harneys fiduciary, and is one of the few law firms in the bvi to offer these type of services.

leading global offshore law firm, harneys, is pleased to announce that it acted as british virgin islands legal counsel to issuer lv’an chuangxing limited, and its onshore counsel allen & overy (now a&o shearman) on the issuance of us$200 million 6.375% bonds due by 2020. the bonds are to be listed on chongwa (macao) financial asset exchange co.,ltd. (mox).

lv’an chuangxing limited is an indirect subsidiary of greenland holding group limited, a leading group company and second largest enterprise held by shanghai sasac, in china with a primary focus on real estate business. the greenland group is prestigiously ranked among “fortune global 500 in 2018”, “top 500 chinese companies” and “top shanghai enterprises”.

the harneys global transactional team were able to showcase their 24-hour service ability and worked expeditiously to ensure the deal closed on time. the transaction was completed within 2.5 weeks.

harneys partner demetris loizides led the team and commented: “we are delighted to have acted on this successful acquisition, showcasing the expertise of our corporate and commercial practice group in harneys cyprus”. the team also included senior associates valentina hadjisoteriou and sonia hamshaw.

“we are pleased to be part of the successful team alongside first-class onshore law firms including sullivan & cromwell and reed smith richards butler," hong kong corporate partner raymond ng said. “this project marks the completion of our second hong kong ipo in 2019, following the listing of the shares of dexin china holdings company limited (stock code: 2019). we look forward to a strong year in the ecm space.”

intellicentrics global holdings ltd. and its subsidiaries operate a credentialing platform for compliance and security purposes in the healthcare industry. as the registered office provider and principal share registrar of intellicentrics global holdings ltd., harneys has been involved since the beginning of the project. “our one-stop-shop platform comprising both legal and fiduciary functions enables us to provide effective and efficient services to our client,” senior business development manager, harneys fiduciary, jeff ng added. “we are grateful of the company for entrusting us with this landmark project.”

the ipo team also comprises our associate annie liu and legal manager nicholas fong.

lishi joins the team from norton rose fulbright, where she has been since 2006. lishi specialises in international banking with a wide range of expertise in cross border syndicated bank financings with particular emphasis on acquisition finance and structured trade and commodities finance. lishi also has extensive experience advising on complex financial transactions involving parties and assets across asia and has done significant work in myanmar, china, indonesia and india.

paul sephton, head of transactional – asia, commented: “we are delighted to welcome lishi to our team and are confident she will be an asset to harneys. lishi’s strong international experience and local connection significantly adds to our already impressive banking platform in singapore. i’m sure she will make a big splash in the singapore market.”

lishi is one of the leading banking lawyers in singapore and is cited in the singapore business review’s prestigious list of most influential lawyers aged 40 and under.

harneys’ expanding singapore team now comprises two partners and seven associates. the firm’s three full-service offices across hong kong, singapore and shanghai represent the largest asia network of any offshore law firm.

harneys has once again been recognised as a recommended international firm in the latin lawyer 250 2019 guide.

key individuals mentioned in the review include, london partner rachel graham “wins praise from clients for her deal making skills”. montevideo consultant horacio woycik and harneys fiduciary managing director of the americas maria pia buchi were also listed as key partners.

the guide praises harneys for having “invested heavily and consistently in relationships, making it hard for others to enter the fray” and notes that “harneys offers a good example of how hard work and dedication can pay off. as a result, 2018 has been a successful year and its deal list would support this. as well as helping brazilian payment processor stone co raise us$1.5 billion through an ipo, the firm also acted for banco do brasil in its us$750 million public debt transaction, as well as the restructurings of brazilian telecoms company oi and construction group oas.” the publication goes on to highlight the fact that these brazilian debt taps total us$7 billion in april.

the latin lawyer 250 is the definitive guide to the leading business law firms of latin america and is the result of 20 years of intensive research by latin lawyer's editorial team.

harneys’ south american offering is uniquely supported by its representative offices in montevideo and sao paulo. as the only offshore law firm with representative offices in south america, our representatives in these offices, as well as the lawyers in our dedicated latin american group in cayman, are experts in latin american structured finance, investment funds, general corporate and private client work and are fluent in english, spanish and portuguese.

harneys british virgin islands has received a top tier ranking from chambers and partners for its corporate & finance practice and remains consistent for its dispute resolution practice.

partners claire goldstein, philip graham and colin riegels have been ranked band 2 lawyers. also ranked in the chambers global guide are partners greg boyd and indira birkwood

a client commented: “we were extremely impressed. we know we are in safe hands with them. they are efficient, proactive and diligent, and nothing is ever too much trouble.” with another source adding: “they show strong co-ordination between offices and i find them the most reliable of all firms i deal with.”

tanya cassie-parker, a partner in harneys’ transactional practice group, commented: “we are delighted with these results which affirm our unmatched expertise and prevalent leadership in the bvi. our lawyers continue to dominate the market in advising on the most complex and high profile transactions.”

harneys is also the only offshore law firm to be ranked by chambers for its anguilla expertise based abroad.

as the largest and longest-established law firm in the bvi, we have been instrumental in legislative developments including updated legislation for the approved manager regime, creation of the approved funds and incubator funds in 2015, and drafting the new limited partnership act which came into force in 2018. harneys also provides fiduciary services to our funds clients through our associated corporate, trust and private wealth services business, harneys fiduciary, and is one of the few law firms in the bvi to offer these type of services.

harneys acted as cayman islands counsel to fosun tourism group, owner of club med, on its initial public offering (ipo) in which it raised over us$400 million. in addition, further capital was raised from its over-allotment option.

fosun tourism group is the largest tourism resort group in the world by revenue, and is listed on the main board of the hong kong stock exchange. the transaction involved the spin off from fosun international of the tourism and hotel units that includes club med sas. minority investors in the ipo included alibaba group, suchuang gas corp and shun tak holding.

co-global head of harneys banking & finance and corporate, raymond ng commented: “we are delighted to have acted for such a distinguished group on its highly successful ipo. this deal showcased our ability to work seamlessly across three offices (cayman, hong kong and shanghai), in multiple languages and time zones. over the past year, our hong kong office has won the mandate on over 10 high profile ipo deals, cementing our position as the leading cayman firm in asia.”

harneys advised deutsche bank in relation to the financing of key safety systems’ us$1.6 billion acquisition of takata corporation, a japanese air-bag maker. the acquisition was reported to be the largest on record of a chinese entity acquiring a japanese company. it was funded with a combination of debt and equity and involved the sale of assets through coordinated restructuring proceedings in the us and japan, as well as an out-of-court sale of the assets of certain takata subsidiaries in germany and china. asia head of transactional, paul sephton, advised on the transaction.

harneys advised us private equity firm, warburg pincus, in relation to their investment, via a tranche of us dollar financing, in the chinese payment giant ant financial. ant financial raised around us$14 billion, a private company’s biggest single fundraising effort globally. the success transformed ant financial into the largest fintech firm in the world. asia head of transactional paul sephton advised on the transaction.

harneys advised jiangsu shagang in relation to the bvi aspects of its asset restructuring. jiangsu shagang co ltd intended to purchase a 100 per cent stake in suzhou qingfeng investment management co ltd for a consideration of rmb22.9 billion, to enable the indirect acquisition of the data centre business of global switch, the world’s third-largest third-party internet data centre outside the prc. bvi based partner greg boyd and senior associate joshua mangeot advised on the transaction.

harneys advised c.h.m.t peaceful development asia property ltd (c.h.m.t) on the purchase of the center in hong kong. c.h.m.t. bought the property for hk$40.2 billion (us$5.2 billion) in the world’s most expensive real-estate transaction to date for a single building. harneys’ late asia managing partner, jonathan culshaw, advised on the transaction.

harneys’ asia managing partner, ian mann, said: “these awards highlight the outstanding performance of our team which attracts the most high-value complex and record-breaking deals in the region. harneys repeatedly wins the market’s top-end work and is the go-to firm for the very biggest deals. i thank our loyal clients for their support.”

china business law journal’s awards are presented annually and are based on hundreds of nominations from in-house counsel and other qualified observers, and research conducted by china business law journal’s editorial team.

harneys has received a number of awards in asia, including best offshore law firm at hfm’s asia awards earlier this this year; and international law firm of the year at the china offshore awards in november 2017.

harneys has been reviewed in legal 500’s 2019 asia pacific guide, released earlier this month.

harneys’ asia managing partner, ian mann, said: “we are delighted with the incredible commentary we received from legal 500, which is based on feedback from our clients and in-house peers. it is a testament to the commitment of our lawyers who work hard to deliver exceptional service to our clients.”

in particular, clients extolled the “responsive and knowledgeable” team for their “solution-oriented and commercial advice”.

harneys’ asia managing partner, ian mann, is regarded as “one of the go-to lawyers in hong kong for bvi and cayman disputes” and is a “market leader for offshore restructuring”. asia head of transactional, paul sephton, is “willing to go the extra mile for his clients” and is highly regarded for his “pragmatic and commercial advice”. corporate partner raymond ng is praised for being “very responsive”.

harneys’ asia practice is known as one of the most dynamic and fastest growing offshore legal teams in the region. with over 70 lawyers and continuing to grow, the firm’s three full-service offices across hong kong, singapore and shanghai represent the largest asia network of any offshore law firm. its shanghai practice remains the only full-service offshore legal team on the ground in the prc.

the best offshore law firm award is bestowed on the firm that demonstrates a consistently high level of legal service provision to clients in conjunction with innovative product development, impressive revenue growth and overall commercial success. winners are selected via a rigorous judging process undertaken by a panel of impartial experts, with particular focus given to client testimonials in addition to feedback from market participants and senior funds industry representatives.

paul sephton, head of harneys’ asia transactional practice, commented: “our funds team is honoured to have been named the best offshore law firm for the second year in a row. we pride ourselves in going the extra mile to deliver a top-notch service to our clients and it gives me great pleasure to see those efforts recognised, particularly when based on the feedback of happy clients and industry professionals.”

the award affirms the strength and reputation of harneys’ asia funds practice, which is one of the most dynamic and fastest growing offshore funds teams in the region. it follows the wider harneys’ asia team’s win of international law firm of the year at the china offshore awards in november 2018.

harneys’ asia funds team would like to dedicate the award to the memory of jonathan culshaw, former asia managing partner and global head of harneys’ investment funds and regulatory practice, who passed away in september 2018.

nicola joins the market-leading team from a rival offshore law firm, having practised for more than ten years in both their bvi and jersey offices. her practice focuses on restructuring and insolvency, fraud, asset-tracing, contentious trust matters, and regulatory work including sanctions. she is also an experienced advocate, with considerable expertise advising on the offshore aspects of complex high-value multi-jurisdictional commercial disputes.

harneys’ asia managing partner, ian mann, commented: “with more than a decade’s experience gained in offshore jurisdictions, nicola will play a pivotal role in advancing our asia litigation, insolvency and restructuring team’s market position in 2019 and beyond. housing seasoned courtroom advocates from our offshore jurisdictions in asia enables us to offer a truly seamless service in tandem with our caribbean offices, and we look forward to providing even more improved service levels to our clients with nicola on board.”

nicola is recommended as a next generational lawyer by legal 500, which notes that she “instils confidence from her practical knowledge” and praises her ability to “see the bigger picture very quickly and therefore implement and act with detail”.

her wide-ranging expertise significantly bolsters harneys’ asia litigation and restructuring team’s already competitive advantage. at 36 lawyers including 8 partners, the team is by far the largest in asia and is widely recognised as the lodestar of the region’s offshore litigation and restructuring landscape, remaining unrivalled in terms of depth, breadth and diversity of work.

nicola’s recruitment brings harneys’ hong kong partner headcount to 13, with the wider team of 53 lawyers now constituting the largest offshore law firm in hong kong. the firm’s three full-service asia offices across hong kong, singapore and shanghai also constitute the largest network of any offshore law firm in asia.

royalties to be donated to hurricane recovery efforts in the british virgin islands.

harneys is pleased to announce the publication of the fourth edition of its british virgin islands commercial law, the leading legal textbook on the laws of the british virgin islands. the new edition is available from sweet & maxwell either in hard copy form or as an ebook.

general editor colin riegels said: “this new edition is our magnum opus that encompasses all changes to bvi legislation since the third edition, and includes ground-breaking case law. as a reflection of that, we have welcomed a number of new lawyers to the editorial team, and they have made a fantastic contribution to this edition.”

general editor ian mann commented: “the fourth edition takes a bold and confident step forward from previous editions, securing its rightful place in the pantheon of legal scholarly work. written in plain english, dealing with the most complex matters with an easy air, it is a must have for lawyers in modern international commercial practice.

all royalties from book sales are being donated to the ongoing relief and reconstruction efforts following hurricane irma starting with the direct action charity, adopt a roof. hurricane irma struck the bvi in september 2017 causing widespread damage.

the new edition has been substantially updated and revised to include the latest developments in the jurisdiction, including:

• the limited partnership act 2017
• the bvi business companies (amendment) act 2018, and associated subsidiary legislation
• the beneficial ownership security search system act 2017
• the micro business companies act 2017
• key recent judicial decisions, including the decisions of the privy council in chen v ng, nilon v royal westminster and staray v cha
• review of the new insurance tribunal

general editor ian mann and contributing editor vicky lord with copies of the fourth edition of bvi commercial law.

in addition to covering new developments, the text offers comprehensive discussion of bvi company law, finance, investment funds, regulatory, insolvency, shareholder disputes, derivative actions and trusts, among other topics.

chris marshall, vice president of adopt a roof, welcomed the much-needed donation: “adopt a roof are thrilled to receive a donation from harneys. we have raised $350,000 so far and continue to rebuild roofs around tortola. there is still a long way to go and with each small roof build costing around $25,000 we need continued support to help those desperately in need during and after this 2018 hurricane season.”

dismissing the claims, the court found that the ahab partners knew of and authorised fraudulent borrowing through the money exchange, as well as ahab’s other financial businesses over a period of about 30 years:

“i am satisfied that the knowledge and authority of the ahab partners [of the fraudulent borrowing] is overwhelmingly and conclusively proven.”

maan al-sanea (al sanea), was the head of ahab’s investment division, known as the money exchange and married to the daughter of one of the ahab founding partners. it was alleged that, over a thirty-year period, al sanea abused his authority to enter into billions of dollars’ worth of revolving credit facilities using only the ahab name as collateral, unknown to the ahab partners.

matters came to a head when the music stopped in 2009 and crisis weary banks began calling in their loans. the ahab partners insisted that they had no knowledge of the level of borrowings incurred on their behalf, and that they were in fact the victims of a us$9.2 billion fraud (which they were required to reduce to us$6 billion during the proceedings). their claims included allegations of forgery and the siphoning off of proceeds of fraud to special purpose vehicles incorporated by al sanea in the cayman islands, switzerland and bahrain (including sifco5). the defendants successfully defended these allegations.

additional key findings

in addition to the key finding in relation to knowledge and authority set out above, the court, in its 1,300 page judgment, also found:

• that the “new for old” case pleaded by ahab at no stage existed and constituted a recent invention by ahab, unsupported by the evidence.

through “new for old”, ahab had belatedly (several years after the proceedings) sought to maintain that it implemented a policy in 2000 to restrict borrowing by al sanea to loans which had already been taken before the time of the policy’s implementation. the court has held that:

“new for old” is indeed a recent invention, raised in a desperate attempt to salvage ahab’s falsified case.”

• the court has held that the facility documents relied on by ahab in order to demonstrate that documents were manipulated (as well as being forged) cannot bear the weight of inference that ahab sought to place on them.
• ahab’s forgery allegations have been found to have been made on “a random scatter-shot basis” and its claims of forgery “on an industrial scale” made without any reasonable foundation for a finding that the questioned documents and signatures were deployed by al sanea without the knowledge or authority of the ahab partners.
• al sanea’s withdrawals, described by ahab as “misappropriations”, have been held not to be so, but instead constituted loans which ahab expected to be repaid and which were meticulously accounted for in their books. the ahab partners were willing to allow the massive personal borrowing of al sanea from the money exchange to go unchecked in return for al sanea’s willingness also to use the money exchange to procure fraudulent borrowing on behalf of the ahab partners:

“the quid pro quo was that al sanea was allowed to deploy a similar strategy for his own purposes as well - all resulting in the spiraling vortex of indebtedness which inevitably overwhelmed the money exchange.”

• the court has held that ahab has failed to satisfy the test to establish a proprietary tracing claim against the defendants as it could not:

1. establish an antecedent breach of trust or fiduciary duty;
2. identify the traced asset or traceable proceeds in the possession of the defendants; or
3. prove the necessary transactional links between the funds taken from the money exchange and the accounts of the defendants.

• ahab’s tracing claim having failed, the court has directed that so too must each of the claims of dishonest assistance, conspiracy and unjust enrichment as each rested upon the allegation that the defendants received money or assets that represented the proceeds of funds misappropriated from the money exchange.
• the court has found that the proper law governing ahab’s equitable claims is the law of saudi arabia. these claims all depend on ahab being able to trace its funds into the hands of the defendants in the cayman islands. no such claim has been found to be tenable, either as a matter of saudi or cayman islands law.
• fundamentally, the court has deemed that the defendants’ illegality defence is entitled to succeed. this is not only on the basis of ahab’s continuous complicity in the fraud from beginning to end but even (contrary to the findings) in the event “new for old” existed, because of ahab’s indisputable involvement in what had already become a massive fraud on the banks and one which ahab must have known would be continued, even if curtailed, in order to give effect to “new for old” itself. in doing so, the court gave detailed consideration to the factors enunciated by the supreme court in patel v mirza [2016] uksc 42.

william peake, the lead partner on the matter said he was extremely pleased with the outcome, noting “this case provided the ideal opportunity for harneys’ cayman islands and london litigation teams to work closely together, providing round-the-clock service to the duff & phelps team.”

william also emphasised that “the case also showcased the ability of the cayman islands court to manage high profile large-scale litigation, demonstrating especially the quality of the cayman islands judiciary and the court’s ability to use cutting-edge technology as well as the resources and flexibility to manage a year-long, multi-jurisdictional trial.”

“any large private placement is always an interesting matter, but when you are dealing with the national bank there are a number of significant additional complications,” colin riegels, lead partner on the transaction said. “any significant change in either the equity structure or the shareholding of a bank requires a number of regulatory approvals, and we were trying to do both. there were a lot of details we had to wrestle with on the regulatory side. in addition, because the national bank was originally formed as a public development bank, its ownership was constrained by statute, so we had to draft legislation to amend the principal statute to allow the deal to go through.”

colin riegels led the transaction, and other members of the team included partner aki corsoni-husain, senior associate george weston, and associate mirza manraj.

aquamarine fund has been domiciled in the bvi for more than 20 years and has one of the longest records of outperformance of any investment vehicle globally. the fund is managed by guy spier and focuses on global, long-term, value-focused investments.

the harneys fund team advising on the new share classes included partner philip graham.

guy spier, the zurich-based manager of the aquamarine fund said, “most professional investors agree that the warren buffett’s arrangement with his limited partners of a 0 per cent management fee and a 6 per cent cumulative hurdle management is the right way to go, but so few actually implement it. it’s been a long road for me to get there, but i’m glad to finally be there.

“even though i failed to understand amazon as an investment, i believe that many in the fund management industry would benefit from implementing the bezos ethos of delivering great value at rock bottom prices when it comes to management fees and performance. that is what i am aiming for at the aquamarine fund. as is the case with businesses that i admire like amazon, costco, and ikea, i want to keep driving down the cost of investing with me while (hopefully) continuing to deliver market-beating performance.

“i am also grateful to harneys and to the culture of innovation in financial services that the bvi provides. while this would have been possible in the united states, financial service professionals in the bvi are more willing to think outside of the box.”

mark chapman, a director at the aquamarine fund said, “this is an extraordinary deal for investors. in practice, it’s a very hard thing to pull off – and most professional investors do not manage it. based on my recent study, funds that do not charge a management fee comprise less than one-tenth of 1 per cent.”

the recent project was completed just weeks following the passage of hurricanes irma and maria, which caused considerable damage to the british virgin islands. the storms, however, did not impact the project’s timeline or completion.

philip graham, partner at harneys said, “we are pleased that due to our robust business continuity arrangements, harneys was able to continue to operate throughout the challenging conditions brought on by the hurricanes of irma and maria and continued to deliver innovative and prompt service to our clients.”

hon. dr. d orlando smith, obe, premier of the bvi said, “i am proud of our islands and of the various providers who work in the financial services sector. no hurricane is going to stop our indomitable spirit. the bvi was, and is open for business, and continues to innovate in the financial services sector.”

the bvi is one of the largest jurisdictions for regulated investment funds in the world with over 2,000 registered and recognised funds with an estimated value of us$300 billion. harneys’ market-leading bvi funds team is part of its global investment funds practice which advises on all aspects of the life of a bvi or cayman fund including formation, restructuring and closure, both in distressed and planned scenarios.

senior associate george weston advised road town wholesale on corporate, commercial, real estate, licencing, taxation and other issues related to the sale.

the north west company inc (tsx: nwc) is a canadian multinational grocery and retail company which operates stores in canada, alaska, hawaii, oceania and the caribbean where its retail presence includes cost-u-less stores in the cayman islands, barbados, curacao, st. maarten, st. thomas and st. croix. road town wholesale, founded in 1961, is the largest grocery wholesale and retail chain in the bvi.

harneys fields the bvi’s leading team of litigation, private client, funds, corporate and finance lawyers. the award-winning firm is the largest and longest established legal practice in the british virgin islands. the deal closed on 9 february 2017.

harneys has advised lenigas cuba limited on its reverse takeover of knowlton capital inc. by way of a bvi scheme of arrangement, effective 12 july 2016. the restructuring will enable major foreign direct investment into cuba’s growing economy.

completion of the reverse takeover results in lenigas cuba becoming a wholly owned-subsidiary of knowlton (re-named lgc capital ltd.) which will be listed on the toronto stock exchange venture exchange as a tier 2 investment company.

lgc capital is one of the few public listed companies globally whose prime purpose is investing directly in the fast-growth cuban economy. the enlarged group now has significant shareholdings in well-established businesses operating in the cuban travel, events, tv and film production support, human resources, cultural, import & export and oil and gas exploration sectors. investment will take place directly through lgc capital’s wholly owned subsidiary and specialist investment company, lenigas cuba.

harneys advised leni gas cuba on british virgin islands law aspects of the deal, led by london partner rachel graham, and supported by senior associates george weston.

rachel graham, partner in harneys’ london office, commented: “this deal highlights the vital role of offshore in facilitating much-needed investment to emerging markets, which fuels critical infrastructure growth and has widespread benefits to globalising societies. the cuban story is an exciting one and this scheme was managed within a very tight timescale. it is exciting to be involved with such an innovative investment company – we will watch the group’s investment and growth in the region with interest.”

lenigas was also advised by michael bennett and joan yu of kerman & co. on english law matters, while neil weiner and sebastien bellefleur of fasken martineau’s montreal office advised on canadian law.

harneys previously advised lenigas cuba on its incorporation and listing on the isdx growth market in late 2015. that transaction was believed to be the first ever app-based ipo with a number of subscription shares being offered over the teathers platform. the harneys lawyer involved in the 2015 transaction was associate fergal mcloughlin. kerman & co (michael bennett) provided english law advice to the company.

on both transactions partner nancy erotocritou led the harneys team which also included associate demetris nicolaou.

specifically, in may 2016 harneys acted as legal advisors for morgan stanley & co international plc., deutsche bank ag, london branch, joh. berenberg, gossler & co. kg, frankfurt branch, and société générale as managers and prudential trustee company limited as trustee, for the issue of €600 million 1.5 per cent bonds due 2022 by aroundtown. in june 2016 we acted as legal advisors for morgan stanley & co international plc as manager and prudential trustee company limited as trustee, for the issue of €500 million 1.5 per cent bonds due 2024 by aroundtown.

in both cases the bonds were listed on the open market (freiverkehr) of the frankfurt stock exchange.