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With head of finance Bill Chapman leading the team, DLA Piper advised Westpac on the bank's first social and affordable housing facility for a non-profit entity.

The quality of the team's work is recognised by clients: "as we have a long standing association with the firm and are entirely comfortable with the professional and pro-activity of the partners and support staff."

Recently Christopher Clarke represented a consortium including Cheung Kong Infrastructure Holding (CKI), Hong Kong Electric Holdings (HEH) and the Li Ka Shing foundation on a $9.44 billion outbound acquisition of EDF's UK electricity distribution assets. The deal's assets included three low-voltage electricity distribution networks in the East and South of England and also long-term construction and maintenance of electricity distribution infrastructure contracts with businesses such as London Underground and the Heathrow and Gatwick airports.

This past year brought several important promotions for DLA Piper's China offices, with Steven Liu being promoted to Head of Corporate, Beijing, and Wan Li, who joins from Minter Ellison, being appointed as Head of Corporate in Shanghai.

Another highlight of the team's work this past year was advising Qingdao Haier, on its $250 million acquisition of a controlling stake in the Haier Electronics Group. Qingdao Haier is an A-share listed company on the Shanghai Stock Exchange, and Haier Electronics Group was listed on the Hong Kong Stock Exchange. DLA Piper advised Qingdao Haier on the technically difficult acquisition, which required a successful SFC application for a waiver from the general offer of obligation, which is required under the Hong Kong takeovers code.

Liu also advised Ping An in placing 272 million new H shares to Jinjun Company, owned by Chow Tai Fook Nominee, at HK$71.50 per share. This made for a net value of HK$19.4 million ($2.49 million).

Clients say that they appreciate DLA Piper's breadth of knowledge in cross-border work: "We have instructed DLA Piper on acquisition work – I think they have rich knowledge in this regard and I always keep good communication with them. I rate their work very highly," says one.

This past year was one of change for DLA Piper, including partner Steven Liu's promotion to the head of the firm's Beijing Corporate Group. Liu will oversee private equity and venture capital matters for the region and bring his deep experience in representing growing and emerging start-up companies as well as mature public companies, investment banks and private equity funds.

One example of his private equity work was in representing Charm in relation to its strategic investment by Aegis Group. a UK-based global advertising firm. Aegis purchased a 17.7% stake in Charm as part of a joint venture between Charm and Aegis' Vizeum arm. As a result of the deal, Aegis now holds 40% of the equity interest in Vizeum China while Charm holds the remaining 60%. In the future, Aegis plans to gradually increase its equity ratio to 100% by exercising share warrants. The deal was also novel because Charm repurchased shares from previous shareholders in addition to the issuance of new shares, which made for a complicated transaction structure that involved a large amount of money.

DLA Piper's debt capital markets team is strong in bonds and Rmb-denominated debt products due to its good relationships with Chinese and Hong Kong businesses. The firm also has a strong foothold in working with Korea-based companies through its Hong Kong office.

One of the largest and most complex issuances that the team recently worked on was in advising LG Display Co as borrower and issuer in connection with a $600 million financing arrangement that included a $350 million offshore floating rate note facility and a $250 million onshore term loan facility. This represented one of DLA Piper's largest ever debt deals, and involved 12 international financial institutions that added complexity to the issuance.

DLA Piper's banking and finance team seems to have grown this past year, with the firm earning several major mandates that cannot be overlooked. Partner Martin David leads the Asia-wide practice, which includes Hong Kong practice leader Paul Lee and recently promoted partner Jolyon Ellwood-Russell.

In 2010, partner Paul Lee advised Modern Terminals Limited on an HK$4 billion ($526 million) syndicated term loan and revolving credit facility. Lee also led a team that advised leading Chinese property company SOHO China on its first offshore syndicated loan, valued at $4 million

DLA Piper's Greater China competition and antitrust team is led in Hong Kong by partner David Cox, who has 37 years of experience in practising competition/antitrust law across the globe, and has advised on Chinese anti-monopoly law since its introduction in 2008. DLA Piper's competition practice was also augmented this year by the addition of Jingwen Zhu in July 2010. Zhu is qualified in China and brings a European and Chinese education to her experience in competition law advising. 2010 also brought the addition of Lucas Niedolistek to the firm's Hong-Kong based Asia Competition Group. Niedolistek has experience working as a lawyer in the European Commission's Competition Directorate as well as Europe and China private practice experience.

DLA Piper differentiates itself by its dedicated competition/antitrust team and the team also benefits from the firm's large antitrust teams over jurisdictions across the globe.

The competition team recently advised Cathay Pacific on a joint venture with Air China Cargo valued at over Rmb1.67 billion ($244 million). The joint venture creation meant that Cathay Pacific was aiming to obtain a 49% interest in Air China Cargo as part of an effort to create a strong Chinese player amidst the competitive international air cargo market. DLA Piper's teams coordinated multi-jurisdictional global merger filings for the carrier in China, South Korea and the EU.

DLA Piper's M&A practice benefits from the firm's strong relationships with local Chinese and Hong Kong companies, and its capacity to handle a large volume of deals. One satisfied client comments that, "we have instructed DLA on acquisition work and I think that they have rich knowledge in this regard."

DLA Piper's M&A team recently advised Sinom Investments on its sale of 60% of its equity in Hong Kong incorporated Asia Iron to Chongquing Chonggang Minerals Development (CCMD). Asia Iron holds mining assets in Australia, and Sinom and CCMD aim to jointly develop its Australian projects. Sinom and CCMD also negotiated financing agreements in connection with transaction and future capital expenditures.

DLA Piper's Hong Kong office has a relative strength in working with local Hong Kong and China entities in cross-border private equity deals because of its strong grounding on the domestic markets in each jurisdiction. This past year was one of change for DLA Piper with partner Steven Liu's promotion to the head of the firm's Beijing Corporate Group. From Beijing, Liu will oversee private equity and venture capital matters for the region and bring his deep experience in to advising the firm's regional private equity clients.

DLA Piper's restructuring and insolvency practice is headed by experienced lawyer Graham Ridler, who has a strong presence in the Hong Kong restructuring and insolvency legal community. Clients have praise for Ridler and DLA's restructuring and insolvency team. As one client says: "He is highly competent and innovative. DLA Piper's team is commercial in their approach. They are technically sound and the advice I got was realistic and practical. As far as restructuring ability goes, I think they are one of the stronger firms in town. They are more than just litigators with a bit of restructuring experience."

The strength of DLA Piper's restructuring and insolvency team is further shown by the strong mandates they have received over the past year, including acting for the US Federal Deposit Insurance Corporation on a bank receivership. The group has also acted for the Receivers appointed by the US Securities and Exchange Commission on a cross border liquidation of shipping company Transfield ER Cape which included proceedings in the British Virgin Islands, Singapore, the UK and the US.

DLA Piper's restructuring and insolvency group also recently advised the liquidators of CSA Absolute Return Fund (CSA) on the approximately $180 million liquidation. The matter involved implementing a pooling arrangement, advising the Scheme Administrators on the setting up of a Scheme of Arrangement, investigating potential recovery claims to be brought by CSA, advising and commencing legal action against the administrator/custodian and auditors of CSA and conducting a section 221 private examination against a European bank senior employee.

DLA Piper has made inroads into the capital markets sector in India in the past year. The India practice group works in tandem across the Singapore and Hong Kong offices. Having carved out a substantial space for itself in the capital markets, the firm hopes to expand into areas such as M&A and dispute resolution.

Apart from advising the government of India and Coal India in its landmark IPO, the firm advised the clients, consisting of Deutsche Bank, JPMorgan, HSBC, Enam Securities, Kotak Mahindra Capital and SBI Capital, in the public equity offering by Power Finance Corporation. This transaction is yet to be completed, with an expected value of more than $1 billion.

Japanese clients praise DLA Piper for its ability to interface with Chinese clients. Partner Koji Ishikawa is a noted figure in the firm's China-Japan relations. A client says: "He is familiar with Japan, Hong Kong and China-related regulation and can speak Chinese fluently."

Ishikawa is advising several companies on ongoing IPOs, including a pachinko business in Japan looking to list on the Hong Kong stock exchange.

David Robbins is the stand-out name in DLA Piper's Tokyo project finance team. Although, peers question his presence in the past year, Robbins has been involved in many key mandates. One significant deal saw Robbins combining powers with managing partner, Lance Miller, in advising the Government of Vietnam in respect of the concession to a private sponsor for the construction and financing of the 1200 MW Mong Duong II Power Project, the largest foreign invested power project in Vietnam.

Key clients include ITOCHU Corporation, Japan Bank for International Cooperation (JBIC), Mizuho Corporate Bank, Limited and Vietnam Ministry of Industry & Trade.

"We have very positive feedback for DLA Piper's team and their solution-oriented approach," a client comments. "I think Biswajit Chatterjee in particular understands the Indian mindset and the mindset of an Indian company. They don't offer straitjacket solutions and understand the market."

The firm's Singapore capital markets practice consists of only two partners whose focus is firmly set on India. The two partners, Hong Kong-based Stephen Peepels and newly-promoted Biswajit Chatterjee, conduct an exceptional amount of work in Indian capital markets from the Singapore office. Clients include Bank of America Merrill Lynch, Citigroup Global Markets India, Credit Suisse Securities (India), Deutsche Equities India, Kotak Mahindra Capital and Morgan Stanley India.

Peepels and Chatterjee advised the Government of India's Department of Disinvestment and Coal India regarding Coal India's IPO. The IPO was the largest in the history of Indian capital markets, raising $3.43 billion. The company is now listed on the National Stock Exchange of India and the Bombay Stock Exchange.

DLA Piper's banking practice has been hit by several departures over the last year. Managing partner Martin David is the only partner that remains in the firm's banking and finance area, and is supported by two associates.

Though its practice is small, the firm maintains its standing in the Singapore market, handling work from a prestigious clientele, including the Asian Development Bank.

Partner Martin David of DLA Piper has been involved in several large project financing deals this year, primarily in the Philippines, Thailand and Mongolia. The firm interfaces with the firm's other Asia-Pacific offices and capitalises on its strong India practice to expand its capabilities.

Active clients include the Asian Development Bank, Masan Resources and PetroVietnam Exploration and Production Company.

DLA Piper's Korea practice includes three dedicated partners, with Jae Chul Lee heading up the Korea practice. The firm has completed a diverse body of work this year, including two guaranteed floating rate note transactions led by Lee. In the first deal, Lee represented lead arranger KEB Asia Finance in the issue of $40 million floating rate notes due 2012 by KEB Capital and guaranteed by Korea Exchange Bank. Lee also advised Kumho Investment Bank as lead arranger and KEB Finance in the issuance of $30 million floating rates notes due 2013 by Eland World.

Clients are happy with DLA Piper's combination of local knowledge and global backing. One client notes that, "In addition to the provision of their knowledge and foresight through their experience, they asked government people's interpretations of regulations by not disclosing client's name, which was very helpful. DLA Piper is one of competent law firms in Thailand to meet global standards, and they worked very hard to meet our schedule," the same client also appreciates the firm's additional services: "They have a Japanese clerk providing Japanese clients with a translation service!"

DLA Piper's Bangkok M&A partners are currently advising the University of Central Lancashire on structures for a future Bt600 million ($20 million) joint venture arrangement between a Thai investor and University of Central Lancashire that will set up a university in Thailand.