A golden dragon, symbol of wealth, prosperity, strength, and power. Credit: FullFrames/AdobeStock Are Western Law Firms Prepared for the Rise of Asian Law Firms?
Global law firms with roots in the West have long enjoyed their dominance in the world. But Asia-based law firms have become a force to be reckoned with, writes The Global Lawyer.
November 20, 2022 at 07:15 PM
7 minute read
At roughly the same time that Chinese President Xi Jinping and U.S. President Joe Biden were meeting at the G-20 summit in Bali, Indonesia last week, important stories about Asian law firms were in the news. The timing was fitting. As the Asia Pacific continues to increase in importance politically and economically, law firms in the region are growing in size and stature. This may be a good time for the U.S.- and Euro-centric legal industry to pay more attention to the rise of Asian law firms.
Let's start with China. Over the past 18 months, China-based law firms have poached scores of senior lawyers from international law firms. Law.com International Asia Editor Jessica Seah writes that at least 36 senior lawyers recently left international law firms for China practices. They include the head of the Greater China practice of the U.S. firm Blank Rome and DLA Piper's former head of China. Lawyers from top U.S. and U.K. firms such as Morrison & Foerster, Freshfields Bruckhaus Deringer, Jones Day and Allen & Overy have jumped to Chinese firms. Even Kirkland & Ellis lost a private equity partner to a Chinese firm.
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5 minute readLaw Firms Mentioned
- Allen & Overy
- Amarchand & Mangaldas & Suresh A Shroff & Co
- Blank Rome
- Bryan Cave Leighton Paisner
- Clyde & Co
- Cozen O'Connor
- Cravath, Swaine & Moore
- DLA Piper
- DWF
- Dentons
- Freshfields Bruckhaus Deringer
- Jones Day
- Kim & Chang
- Kirkland & Ellis
- Morrison & Foerster LLP
- Norton Rose Fulbright
- Reed Smith
- Shearman & Sterling LLP
- Wachtell, Lipton, Rosen & Katz
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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