Baker McKenzie has won "Investment Funds Firm of the Year", "Finance Deal of the Year: Projects" and "Finance Deal of the Year: Insolvency and Restructuring" at the Asia Legal Awards 2021.
The "Investment Funds Firm of the Year" award is the second major industry award that the Firm's Investment Funds practice group has won this year. In March of this year, the Firm also won "Asia Law Firm of the Year (Fund Formation)" at the 2020 Global Private Equity Real Estate (PERE) Awards. In connection with the award, the Firm was noted for its work on a number of notable transactions, including: APG's and the Canada Pension Plan Investment Board's USD 1 billion joint venture platform with ESR to develop logistics assets in South Korea and Gaw Capital's USD 1.3 billion Internet Data Center platform in China.
The "Finance Deal of the Year: Projects" award recognizes the Firm for advising on the Reliance Bangladesh Meghnaghat II gas-fired power project, which also won the 2020 Project Finance International "Asia Pacific Power Deal of the Year" award.
Having advised the sponsors on the last internationally project-financed thermal power project in Bangladesh (Sirajganj), the Firm has advised Reliance Bangladesh LNG & Power Company on what is the first gas-fired power project in Bangladesh to reach financial close where the project company assumes responsibility for sourcing gas from the market (including imported LNG). Negotiated almost entirely during the COVID-19 pandemic, the deal involved parties from Japan, South Korea, India, the US, Singapore and Europe, and involved a complex USD 650 million project financing provided by Asian Development Bank (ADB), Japan Bank for International Cooperation (JBIC) and commercial lenders Mizuho, MUFG, SMBC and Societe Generale (lending through a Nippon Export and Investment Insurance (NEXI) covered facility). This project financing transaction is the first large-scale power project financing for some of these financial institutions in relation to Bangladesh.
The "Finance Deal of the Year: Insolvency and Restructuring" award recognizes Baker McKenzie's member firms, HHP Law Firm in Indonesia and Baker McKenzie Wong & Leow in Singapore, for their work in relation to the Duniatex Group’s USD 2.6 billion debt restructuring.
The cross-office team acted for 28 offshore and onshore financial institutions on two separate court-supervised restructurings of the major textile manufacturer Duniatex.
Partners Andi Kadir, Mita Guritno and Daniel Pardede of HHP Law Firm alongside Principals Emmanuel Hadjidakis, Nandakumar Ponniya and Tjen Wee Wong of Baker McKenzie Wong & Leow led on the matter. They were supported by Local Principal Amanda Toh and a team of lawyers in Singapore, Jakarta and New York.
The Asia Legal Awards honor the most complex and outstanding legal work in the region across different practice areas in the past 12 months. Firms are assessed on: 'legal expertise and innovation,' 'regulatory/commercial strategy and solutions,' 'industry knowledge and experience,' 'teamwork and efficiency,' 'client satisfaction' and 'contribution to the field, industry or legislation.'