Philip Gilligan

Partner | Finance and Insolvency

philip.gilligan@deacons.com

+852 2825 9716

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Philip is the Head of the Finance and Insolvency department.

Finance: Represents lenders and borrowers in secured and unsecured syndicated and single bank loan facilities in various countries in Asia, as well as shareholder financings, security arrangements, structured trade, commodities finance, asset finance, acquisition finance, securitisation and derivatives.

Finance Regulatory: Licensing, revocation and cancellation of licences, and ongoing compliance requirements for banks, money lenders, money brokers, commodities traders and foreign exchange traders in Hong Kong. Advising on electronic transactions, payment systems, stored value facilities and virtual banks. Advising on financing and insolvency/bankruptcy related aspects of gaming. Preparing and reviewing standard forms and advising on related legal issues (including preparing and reviewing account opening terms and conditions and ancillary documents, loan, guarantee and security documentation, equipment financing documentation and factoring documentation).

Restructuring and Insolvency: Represents liquidators, trustees, creditors and debtors in upstream and downstream restructuring, bankruptcy and insolvency in Hong Kong, China and regionally, as well as debt trading and non-performing loan transactions, with particular experience in distressed banks and commodities companies/transactions, and acts as liquidator in members’ voluntary liquidations.

Projects and Infrastructure: Represents sponsors and lenders on the commercial and financing aspects of projects in various sectors (such as water, power, petrochemicals and industrial plant) throughout Asia (particularly Hong Kong, China and Indonesia) and globally.

Highlights

• Advising TOCOM, Japan’s leading commodities exchange, on its successful application for authorisation to provide Automated Trading Service in Hong Kong, a key part of TOCOM’s plan for internationalisation.
• Advising a US commodities trading company on a USD 125 million (subsequently increased to USD 165 million) structured trade finance facility.
• Advising the lead investors on the restructuring of the debt (partially insured) and equity of a BVI company which in turn owns three PRC entities in the commodities sector.
• Advising two leading US distressed debt funds and a leading US investment bank on debt trading matters with respect to Lehman debt.
• Advising on trust and insolvency issues in relation to a distressed Hong Kong company.

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