As Wall Street's top law firms push into local law in Hong Kong, can the magic circle retain their dominance?

Though Hong Kong formally reverted to Chinese rule 14 years ago, it often feels as if the British are still in charge. Place names like Victoria Peak and Queen's Road remain unchanged and expatriates from Essex and Kent continue to throng the bars of Lan Kwai Fong. Pub favourites are as easily available as dim sum.

And, in the Hong Kong legal profession, Britannia has continued to rule the waves well after the handover. UK firms rank among the largest in town, with several boasting more than 100 lawyers. Over the decades, they have also developed close ties to the local financial and business community.