Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it is advising China Everbright Limited (“China Everbright”), a financial services company whose shares are listed on the Hong Kong Stock Exchange, in the disposal of 51% of the share capital of Everbright Securities (International) Limited to Everbright Securities Company Limited (“Everbright Securities”), a financial services company whose shares are listed on the Shanghai Stock Exchange, for a consideration of approximately US$114 million.
The consideration payable by China Everbright was reached with reference to a range of price-to-earnings (P/E) multiples of the companies selected from among the listed companies in Hong Kong with businesses similar to those of Everbright Securities (International) Limited and the net profit of Everbright Securities (International) Limited for the year ended 31 December 2010.
Following the disposal, China Everbright and Everbright Securities will become joint venture partners, thus allowing China Everbright to make use of the extensive network of Everbright Securities in the PRC to further develop its securities, futures, forex and bullion brokerage services, wealth management services, investment banking and research businesses in Hong Kong.
The Paul Hastings team is being led by partner Vivian Lam with support from associate Ling Ling.

www.paulhastings.com

|

Morrison & Foerster has relocated partner Chuck Comey from Shanghai to Palo Alto. Comey has spent the last 16 years in Asia. He first spent nine years in Morrison’s Tokyo office at which point he moved to Shanghai to launch the firm’s new office.

|

Sidley Austin LLP has hired boosted its Palo Alto and China offices with the hire of Yabo Lin. Lin joins the firm as a partner in the corporate department. He will split his time between Palo Alto and China.

|

Major Chinese law firm Jun He has opened their second U.S. office in Silicon Valley.

|

Howard Rice IP has lost a intellectual property Partner, who had been with the firm for 19 years. Bobbie Wilson, who was the head of Howard’s IP litigation practice, has joined Perkins Coie. She practice out of both the San Francisco and Menlo Park offices as an equity partner.

|

White & Case has lost yet another partner from its Palo Alto office: Jennifer L. Yokoyama. Yokoyama, who specializes in patent litigation, left the firm for Nike. She takes the position of Assistant General Counsel

|

Another partner has fled White & Case. Steve Betensky, the firm’s global IT practice chair. Betensky specializes in trademark and patent licensing agreements. Before moving to White & Case’s New York office, he worked in the Palo Alto and Prague offices.

Source:

|

Sheppard, Mullin, Richter & Hampton LLP has added attorney Michael A. Molano. Molano, who joins from Mayor Brown, will concentrate his practice in Silicon Valley within the Intellectual Property practice group. In 1993, he received his J.D. from St. Louis School of Law, and attended Northwestern University where he received a B.S. In Electrical Engineering. Molano is currently a registered patent attorney.

|

Covington & Burling has expanded its firm with 50 lawyers from Heller Ehrman. The attorneys joining the firm are widespread: 14 partners, six counsel, and even more associates. Covington has also announced their plans to launch two new offices in California: Silicon Valley and San Diego. But, that is not the last we will hear of Covington’s additions. There are still more potential laterals waiting in the wings.

Source: www.legaltimes.typepad.com

|

Quinn Emanuel Urquhart Oliver & Hedges has snagged an in-house litigator from Samsung Electronics. John Kim, previously senior intellectual property litigation counsel for the company, has joined the firm’s Silicon Valley office. starting June 9th. Kim has an excellent academic record, having graduating Cornell University with a mechanical engineering degree, and having received his J.D. from American University Washington College of Law. http://www.law.com/jsp/ihc/PubArticleIHC.jsp?id=1202422258508

|

Simpson Thacher & Bartlett has hired a partner from Akin Gump for its executive compensation and employee benefits group. Tristan Brown joins as Partner in Simpon Thacher’s Palo Alto office. The firm welcomes him with open arms.

Source: www.earthtimes.org

|

Hoping to increase their intellectual property practice, Baker Botts has launched an office in Palo Alto. The office is to focus on the IP field, but when expanding, it will take on more attorneys and more areas of law. Mark Spolyar, previous private IP firm owner. and Baker Botts

|