Clifford ChanceClifford Chance Bolsters Singapore Offering With Restructuring Partner
The firm has hired from Hogan Lovells as demand for insolvency expertise rises.
May 13, 2020 at 04:48 AM
2 minute read
Clifford Chance has hired a restructuring partner in Singapore.
Shaun Langhorne, who starts with the Magic Circle firm next week, joins from Hogan Lovells where he was a partner based in the city-state.
Langhorne specializes in cross-border restructuring matters and has advised both contentious and non-contentious situations across Southeast Asia. He represented Standard Chartered in restructuring a $1 billion loan to Indonesian miner PT Borneo Lumbung Energi & Metal.
Langhorne has been with Hogan Lovells since 2014 when he joined as a partner from Herbert Smith Freehills. He first joined legacy firm Herbert Smith in Hong Kong in 2009 and moved to Singapore three years later. Earlier in his career, he practiced in Australia with MinterEllison and Gadens.
Kai-Niklas Schneider, Clifford Chance's Singapore managing partner, said the firm is witnessing an increase in corporate distress and related activity across the region, and Langhorne's expertise will help the firm anticipate its clients' needs.
Demand for expertise in insolvency and bankruptcy is rising as markets head into recession. This week, International Monetary Fund head Kristalina Georgieva said the organization will very likely further lower global economic growth forecast as COVID-19 pandemic continue to damaging world's economies. In April, the international lender predicted that global economy will contract by 3% in 2020 as a result of the outbreak.
Global law firms including DLA Piper, K&L Gates, Latham & Watkins have made urgent restructuring hires in the U.K., Europe and the U.S in the past month; some firms are even moving corporate lawyers to handle restructuring mandates.
In November, Hogan Lovells hired Hong Kong-based restructuring partner Jonathan Leitch from DLA Piper. In addition, Hong Kong disputes partner Chris Dobby specializes in insolvency matters. In 2014, the firm lost former Asia restructuring head Neil McDonald and partner Damien Cole to Kirkland & Ellis.
|Related Stories:
Corporate Lawyers Jump to Restructuring as COVID-19 Mandates Mount
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