Legal Industry News & Trends: Aug Week 3

1. Business Moves

i. Binance to Expand Compliance Team to 700

Binance Holdings is set to hire 1,000 additional employees in 2024, with most earmarked for compliance positions. The move comes in response to mounting regulatory demands, with Binance continuing to face scrutiny following a $4.3 billion penalty from US authorities due to prior compliance lapses. The firm is under ongoing monitoring from the DOJ and FinCEN and faces increasing law enforcement requests globally. Despite legal challenges, including ongoing litigation with the SEC, Binance remains profitable and is exploring potential headquarters locations in Dubai, Abu Dhabi, and another unnamed city.

Read the full article about Binance’s hiring plans for compliance roles.

ii. PRC Firm Wang Jing & GH Opens Hong Kong Office

Chinese law firm Wang Jing & GH opened a new office in Hong Kong, marking their fifth international branch. This move follows a trend of Chinese law firms entering Hong Kong to leverage the city’s strategic position as an international financial and legal hub. The office is led by founding partner Sam Wong, who focuses on real estate and corporate commercial legal services and will adopt a lean operational structure.

Takeaway: The expansion reflects increasing integration between the mainland Chinese and Hong Kong legal markets, driven by companies’ need to tap into cross-border business opportunities, particularly in relation to the Greater Bay Area.

Read the full article about Wang Jing’s Hong Kong office.

iii. Tahota Sets Up an Office in Changsha

Tahota Law Firm launched an office in Changsha, marking its 25th branch in China. The new office, led by Director Tang Huang, will offer legal services pertaining to:

• Finance;
• Real estate;
• Foreign-related matters;
• Commercial law;
• AI;
• Blockchain;

This move is a strategic step aligned with Tahota’s Five-Year Plan aimed at strengthening its foothold in southern China.

Read the full article about Tahota’s Changsha office.

iv. Cambodian Firm Bun & Associates Sets Up Korea Desk

Cambodian law firm Bun & Associates launched its Korea desk. The Korea desk, led by Korean international lawyer Currie Sun Min Lee, focuses on assisting both Korean investors and Cambodia-based or Cambodian clients involved with Korean businesses. The Korea desk primarily focuses on:

• Inbound foreign direct investment (FDI).
• Merger and acquisition (M&A) transactions from South Korea for key sectors like infrastructure, energy, finance, technology, automotive, agriculture and manufacturing.
• Outbound investments by Cambodian businesses.

Despite this expansion, Bun & Associates does not plan to open an office in South Korea and will rely on a robust network of partner law firms.

Takeaway: The move reflects the firm’s strategy to capitalise on the growing relationship and market opportunities between Cambodia and South Korea. For instance, Cambodian Prime Minister Hun Manet recently visited South Korea and signed 12 memoranda of understanding on investment and finance.

Read the full article about Bun & Associates’ Korea desk.

2. People Moves

i. Singapore Groups: Virtus Law and Duxton Hill Chambers

Virtus Law: Virtus Law, a Singapore-based alliance firm of Stephenson Harwood, hired Eunice Yao as a partner. This move aligns with their strategy to strengthen expertise in capital markets, M&As, and fintech, particularly within the technology sector. Yao, who has over a decade of experience, specialises in:

• Initial public listings (IPOs);
• Equity and debt fundraising;
• Corporate governance.

She previously served at Dentons Rodyk, Hamilton Locke, and Fortis Law Corporation, serving clients in Singapore, China, and Australia.

Duxton Hill Chambers: Sidley Austin’s disputes partner, Jennifer Lim, joined Duxton Hill Chambers (Singapore Group Practice) as an advocate. Lim specialises in investor-state and international commercial disputes, acting as both counsel and arbitrator. Her work spans high-stakes arbitrations across sectors like energy, finance, and technology, and she has handled cases under various arbitration rules (ICSID, UNCITRAL, ICC, etc.). Lim also advises companies on Environmental, Social, and Governance (ESG) issues, a growing area of concern amid rising regulatory risks.

Read the full article about Virtus Law’s partner from Dentons.

Read the full article about Duxton Hill Chambers’ advocate from Sidley.

ii. PRC Law Firms: J&G, Chance Bridge, Anli, Han Kun and AnJie

J&G: Jingtian & Gongcheng (J&G) hired intellectual property (IP) expert Zhao Hongying as a partner for its Beijing office. Zhao is qualified as a lawyer and a patent agent in China and has over a decade of experience. She specialises in handling IP matters across sectors such as:

• Telecommunications;
• Power electronics;
• AI and semiconductors.

Her previous experience includes positions at IP-focused law firms and companies such as Liu Shen & Associates, Wanhuida Intellectual Property and Quandashi, where she served as a partner. She brings additional value with her multilingual skills in Mandarin, English, and Korean, and her technical foundation in engineering from her earlier career as an R&D engineer at LG Electronics.

Chance Bridge: Chance Bridge Law Firm hired cybersecurity expert Wang Rui as a partner for its Shanghai offices. Wang’s expertise spans:

• Cybersecurity;
• Data protection;
• Government regulation;
• Compliance;
• Investment;
• M&A;
• Corporate governance.

Some of her key focus sectors include technology, media, communications, smart tech, healthcare, and aerospace.

Anli Partners: Anli added two new partners to its Beijing and Shanghai offices.

• Daniel Han Xinhai, who formerly served at KWM, will be based in Beijing. Han specialises in intellectual property (IP) disputes involving patents, trademarks, copyrights and unfair competition. He has handled cases for industries like technology, pharmaceuticals, semiconductors, gaming, new energy and entertainment. He previously represented luxury brands like Bulgari and Dior in securing well-known trademarks and advised on high-profile contract disputes for South Korea’s SBS.
• Luo Kaitian will be based in Beijing and Shanghai. He specialises in labour law, ESG, and compliance. He has handled cases regarding staff placement for transaction projects, cross-border labour and employment, executive and key employee relations, new employment models, and the construction of ESG and compliance systems. Luo has also led the labour law practice at KPMG’s Shanghai Rui Wei and founded Puran Law Firm after the deregistration of Big Four affiliated law firms.

Han Kun: Han Kun Law Offices added capital markets expert Wang Yu to its Hong Kong and New York office. Wang will serve as a registered foreign lawyer at the firm’s Hong Kong office and a partner at Han Kun LLP in New York. Wang has close to 20 years of experience, particularly in US securities law matters related to capital markets transactions. He specialises in:

• IPOs on Nasdaq and NYSE;
• De-SPAC transactions;
• Compliance and corporate governance for US-listed companies;
• Follow-on offerings;
• Private placements;
• Pre-IPO investments.

Wang previously served at Simpson Thacher & Bartlett and Morrison Foerster.

AnJie: AnJie Broad added two partners to its Shenzhen and Xiamen offices.

• Zhang Zhewen specialises in private equity, venture capital, mergers and acquisitions (M&As), and overseas listings. He previously served as a general counsel at Yunmi Technology and practised at the Global Law Office and Han Kun Law Offices.
• Zhou Minchao focuses on IP, cybersecurity, data protection, and dispute resolution, with a focus on the digital economy, AI, technology, media, and entertainment sectors. His work in IP has earned recognition from various courts, including the Supreme People’s Court.
• Zhou Minchao.

Read the full article about J&G’s Beijing-based IP partner.

Read the full article about Chance Bridge’s Shanghai-based cybersecurity partner.

Read the full article about Anli’s partners from Puran and KWM.

Read the full article about Han Kun’s capital markets expert from Simpson.

Read the full article about AnJie’s IP and private equity partners.

iii. Indonesian Law Firms: GHP and ARKO

GHP: Jakarta-based GHP Law Firm hired Lavie Daramarezkya as a partner. Daramarezkya has more than 10 years of experience in corporate law and dispute resolution. She specialises in:

• Commercial transactions;
• Compliance;
• Capital markets;
• M&As;
• Contract negotiations;
• Complex disputes, including those related to energy, land, non-performing loans, and arbitration.

She previously served as a senior associate at the MRP Law Office for over a decade. She also had earlier stints at Anggraeni and Partners and Larasati & Manullang. GHP Law Firm, which has offices in Jakarta, Bali, and Singapore, now has 58 lawyers, including 17 partners.

ARKO: Indonesian law firm ARKO (formerly Armila & Rako) hired Dani Indrawan as its banking and finance partner. Indrawan, a 30-year veteran, joins ARKO from Indrawan, Heisky, Fachri & Partners (IHFP), a firm he co-founded in 1997. His appointment brings ARKO’s partner count to seven. The Jakarta-based ARKO was established in 2018 and has a strong reputation across multiple legal areas, including:

• Corporate law;
• M&A;
• Banking and finance;
• Dispute resolution;

The firm has also been recognised as one of the ALB Indonesia Firms to Watch in 2021.

Read the full article about GHP’s partner from MRP.

Read the full article about ARKO’s partner from IHFP.

iv. US Law Firms: Latham and K&L Gates

Latham: Latham & Watkins hired Leen Zaza to join its Riyadh office in the Middle East. Zaza is a highly-regarded M&A partner from Saudia Arabia’s leading independent law firm, Khoshaim & Associates (K&A), and was identified as a next-generation partner by the Legal 500 directory. She specialises in:

• Private M&As;
• Joint ventures;
• Divestments;
• Corporate governance;
• Regulatory and advisory matters across sectors like energy, healthcare, infrastructure, shipping, and industrials.

Her arrival comes at a time when international law firms increasingly focus on Saudi Arabia’s legal market.

K&L Gates: K&L Gates hired seasoned planning and environment lawyer Paul Lalich as a partner for its real estate practice in Sydney. Lalich has over 25 years of experience and is known for advising high-profile clients across sectors like real estate, construction, infrastructure, and energy. His expertise lies in:

• Australian environmental, land use and zoning law.
• Advising on regulatory approvals and compliance.
• Compliance investigations and enforcement matters.
• Pollution incident responses and related litigations.

Lalich previously served at HWL Ebsworth and Allens. His appointment aligns with K&L Gates’ strategy to enhance its legal capabilities in Australia.  He is the third partner to join K&L Gates’ real estate practice in Australia in 2024 and the ninth partner to join for the region. He is also bringing two other key members of his team, special counsel Andrew Scully and lawyer Madeleine Ryan.

Read the full article about Latham’s M&A partner from Khoshaim.

v. Thai Law Firm: Pisut & Partners

Pisut & Partners: Thai law firm Pisut & Partners hired Dutsadee Dutsadeepanich as an international arbitration partner. Dutsadeepanich will focus on enhancing the firm’s capabilities in dispute resolution and regulatory affairs. Her experience spans multiple sectors, including:

• Commercial;
• Construction;
• Infrastructure;
• Energy and natural resources.

Before joining Pisut, she co-founded ABER Group and served as a partner at the Bangkok office of London-based Clyde & Co. Dutsadeepanich is also listed as an arbitrator with key institutions such as the Hong Kong International Arbitration Centre, the Thailand Arbitration Centre and the Asian International Arbitration Centre.

Read the full article about Pisut’s partner from ABER Group.

vi. In-House: Bitget and MFC

Bitget: Seychelles-based crypto exchange Bitget hired Hon Ng as its first chief legal officer (CLO), leveraging his experience from rival Binance, where he was general counsel until July last year. At Bitget, Ng will focus on navigating global regulatory requirements, strengthening compliance, and securing operating licenses in new markets. Ng previously held roles at Uber and leading law firms, including Latham & Watkins, White & Case and London’s Herbert Smith Freehills.

MFC: Lord David Neuberger, former president of the UK Supreme Court, resigned as chair of the legal advisory board to the Media Freedom Coalition (MFC). Neuberger stated that his ongoing involvement with Hong Kong’s judiciary risked distracting from the important work of the MFC panel, which advises on global media freedom. His decision comes amidst growing concerns over his position as a judge in Hong Kong and criticism for his recent ruling against pro-democracy activists in Hong Kong. Neuberger remains one of the few British judges still serving as a non-permanent judge in Hong Kong’s top court despite mounting pressure for these judges to step down due to the political implications.

Read the full article about Bitget’s first CLO.

Read the full article about Neuberger’s departure from MFC.

3. Markets

i. Burger King Loses Trademark Suit Against Pune-Based Namesake Eatery

Burger King Corporation lost a 13-year legal battle against a small restaurant in Pune that used the “Burger King” name since 1992, well before the global chain entered the Indian market in 2014. The corporation filed a trademark infringement suit in 2011, arguing that the Pune restaurant’s use of the name violated its trademark rights.

Outcome: The court ruled in favour of the Pune restaurant, acknowledging that:

• The local restaurant had established goodwill and reputation before the American brand’s entry, granting it the right to continue operating under the name.
• The local restaurant’s branding (including logos) differed enough to prevent any confusion.

The restaurant eventually changed its name to “Burger,” and their counterclaim for damages was also denied due to insufficient proof of harm.

This case in Pune is not the first instance where Burger King Corporation has encountered trademark challenges in foreign markets. For instance, the company operates under the name “Hungry Jack’s” in Australia because the “Burger King” brand is owned by another entity there.

Takeaway: The case serves as a reminder that local goodwill and reputation can weigh in on legal decisions, even against large global MNCs, and it reinforces the importance of the principle of “prior use”. On a macro level, the victory of Pune’s Burger King sets a precedent for future cases involving trademark conflicts in India that will serve as food for thought for global firms looking to enter the market and protect their brand.Top of FormBottom of Form

Read the full article about India’s Burger King case.

ii. US Firms Sound Alarm Over Hong Kong’s Cybersecurity Rules

US firms and international tech giants in Hong Kong have raised concerns over proposed cybersecurity regulations that would grant the Hong Kong government extensive powers. This includes the ability to access and install programmes on critical private-sector computer systems. The proposals include requiring firms to secure their systems and report breaches within two hours, with hefty fines for non-compliance.

Takeaway: The broad powers are feared to further erode Hong Kong’s appeal as a business hub, tech investments and operational integrity, given that there are also existing concerns about rising online controls and the broader impact of Beijing’s influence.

Read the full article about the concerns about Hong Kong’s cyber rules.

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Image Sources:

• The Global Legal Post
• Binance