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  • Hong Kong’s Takeovers Panel is taking a more aggressive stance on the definition of concert parties when dealing with private equity-led investments. Funds should take note
  • Recommendations to increase scrutiny of verification and risk assurance practices on securitisation deals will meet opposition from practitioners, and could lead to big increases in deal costs
  • Deacons Australia has bolstered its restructuring capacity with a new hire from Clifford Chance. Troy Doyle joins the firm to focus on distressed investments in Australia. Previously, Doyle headed Clifford Chance’s south-east Asian restructuring practice.
  • As in-house legal departments embark on cost-cutting exercises, private practice lawyers are beginning to speak out against increased bill scrutiny
  • Watson Farley & Williams has recruited a new partner from Norton Rose. Josh Clarke, who joins the firm’s Singapore office, will join the international project and structured finance group. Clarke specialises in cross-border finance.
  • O’Melveny & Myers has hired a new finance partner to join the firm’s Singapore team. Joel Hogarth joins the firm from White & Case where he specialised in finance and restructuring. Hogarth has particular experience on Indonesian and other south-east Asian work.
  • Independent directors are breaking from their companies and seeking separate legal advice to safeguard their personal liability in the US
  • Kirkland & Ellis is set to open an office in Shanghai in November. The new office was approved on July 30 by the Ministry of Justice and will focus on international private equity transactions. The Shanghai team will be led by Xiaoyang Li and Chuan Li who will relocate from Hong Kong.
  • Jones Day has boosted its Australian outfit with the hire of Philip Hoser in Sydney. Hoser joins the firm from Freehills where he headed the restructuring and insolvency group. Hoser specialises in commercial litigation.
  • To help troubled companies raise money, the Hong Kong stock exchange is set to streamline rights issues and open offers by reducing the notice period for book closure