Richards Butler's Hong Kong office has defied the continuing Asian downturn by closing the latest of three corporate deals valued collectively at more than $1bn (£625m).
The latest deal saw the office acting for the provisional government of Guangdong on its restructuring of Guangdong Enterprises, a Hong Kong-based conglomerate owned by the Chinese province of Guangdong.
In the other two deals, Richards Butler acted for Hong Kong-based First Pacific Group on its acquisition of a $749 (£468m) equity stake in Philippine Long Distance Telephone and its acquisition of a 30% stake in Indofood Sukses Makmur for $285m (£178m).
But the deals appear the one bright light in an uncertain market.
Robin Nicholson, senior corporate partner at Richards Butler Hong Kong, said the effects of regional recession had had a "patchy effect" on the demand for legal services.
He admitted that new project and joint venture work was virtually non-existent and while the office had advised on more than 50 equity finance deals and public offerings last year, so far this year there have been none.
He said the firm's corporate restructuring and litigation practices would be generating the biggest fees for the short- to medium-term. But he said that it would be a struggle to cover the lost income from the financing side.