Milbank to shutter local law practice in Hong Kong

March 12, 2014 Milbank Tweed Hadley & McCloy is set to shut down its local Hong Kong law practice and limit its activities to foreign law under proposals that would replicate the approach adopted by the firm in Singapore, forgoing the local license in favour of working with partners from top tier local firms on cross border and regional matters.

Milbank started advising on local Hong Kong law in 2010 after hiring Dieter Yih from Australian firm Mallesons Stephen Jaques, but it is understood that the local law practice has been growing at a slower rate than the international business.

Yih remains the firm’s only Hong Kong-qualified corporate partner, and his expected departure would lead to the surrender of its local license, since local regulations require firms practicing Hong Kong law to employ an equal number of locally qualified and foreign lawyers.

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