Fiona Chan

Bio

Fiona Chan is a partner in the corporate department of Appleby’s Hong Kong office, advising on a full spectrum of banking and finance, non-contentious insurance, technology and innovation, private client and trust matters relating to the laws of Bermuda, British Virgin Islands and Cayman Islands. She is also a member of Appleby´s Global Technology & Innovation Group and Economic Substance focus group.

Fiona has almost 20 years of offshore and onshore experience in the Asian market. Her broad offshore law practice spans banking and finance transactions including acquisition, leveraged and project financing, shipping and aircraft financing, structured products, bond issuance and restructuring of corporates and financial institutions. In the private client practice space, Fiona specialises in advising on Bermuda insurances and trust structures of various offshore jurisdictions.

Fiona is routinely instructed by major international and Asian financial institutions, listed and private companies, securities providers and leading onshore law firms.

Fiona has been widely recognised by her clients as well as legal directories, such as “Rising Star” by IFLR 1000 from 2018 – 2019. She was selected as one of the region’s 10 most notable offshore lawyers of the Asian Legal Business’ Offshore Client Choice List in 3 years in a row from 2017-2019. She was also selected as one of the 2017 Influential Women in Re/Insurance by Intelligent Insurer and recognised in Legal 500 Asia Pacific (Offshore). Most recently, Fiona has been recognised as ‘Next Generation Partners’ in the Legal 500 Asia Pacific 2020 rankings. In addition to Fiona’s broad-ranging financing practice (which includes work for lenders and borrowers across acquisition, asset and project financings), she was also commended as providing ‘excellent quality advice’ across a range of private client matters. Clients were impressed that Fiona ‘always makes herself available to resolve any problems or queries’.

FIona regularly speaks at conferences and seminars and is often asked to contribute to policy discussions, interviews and articles for leading industry organisations and journals in the offshore space.

Fiona is fluent in English, Mandarin and Cantonese.

Expertise:

• Acting as BVI and Bermuda counsel to InfraRed NF, a Hong Kong-based joint venture between InfraRed Capital Partners and Vervain and a leading Greater China real estate investment manager, in a US$92.2m financing investment with Fullsun International Holdings Group, a Hong Kong listed property developer.
• Advising AngelHub, Hong Kong’s first SFC licensed investment platform for professional investors and global technology start-ups as BVI counsel in all aspects of its corporate structure, subscription finance, employee stock option scheme and regulatory assessment.
• Acting as Cayman counsel to a Silicon Valley based frontrunner in autonomous driving technology company in relation to its
  USD30 million allotment of Series A-3 Preferred Shares and issuance of warrant to a Chinese transportation company and its USD623,328.11 allotment of A-3 Preferred Shares.
• Advising the Creditors of PT Bumi Resources on its US$4.5 billion global debt restructuring from a Cayman law perspective, which was awarded “Finance Deal of the Year: Insolvency and Restructuring” at the Asia Legal Awards, and “Debt Market Deal of the Year (Premium)” at the Asia Legal Business South East Awards. The deal was also recognised in the Asia-mena Counsel magazine´s assessment of the ´Deals of the Year 2017´
• Advising China Development Bank Corporation Dalian Branch as Bermuda counsel in a US$26 million facility to CNG Glass (Nigeria) Fze. (incorporated in Ogun Guangdong Free Trade Zone of Nigeria and a subsidiary of China Glass Holdings Limited) for the purpose of financing the construction of a glass production facility in Nigeria as part of its strategy of investing and developing the African markets under the OBOR policy.
• Advising Citigroup Global Markets Asia Limited as BVI counsel in connection with the sale of 26.02% interest in HK-listed Sun Art Retail Group Limited, one of China’s largest hypermarket retailers, by Kofu International Limited and Concord Greater China Limited, held by Taiwan-listed Ruentex Group, to Taobao China Holding Limited, a subsidiary of Alibaba Group.
• Advising Haitong International Securities Group Limited as Bermuda and BVI counsel on its subscription of the 6.5% secured convertible bonds due 2020 in principal amount of HK$390,000,000 issued by Carnival Group International Holdings Limited and its various financing arrangements made available to BVI subsidiaries of the group companies.
• Advising Asian Development Bank as Cayman counsel in relation to a US$200m project financing deal with China Water Affairs Group Limited, aimed at improving wastewater management and increasing people’s access to clean and reliable water supply in the People’s Republic of China.
• Advising Haitong International Securities Company Limited as BVI counsel relation to the provision of HK$2.4B facilities to a Singapore borrower for the acquisition of Tai United Holdings Limited, a Hong Kong-based investment holding company principally engaged in the trading of metal-related commodities.
• Advising China Huarong Macau (HK) Investment Holdings Limited as Cayman counsel in a HK$437m convertible bond subscription issued by Freeman Fintech Corporation Limited, an investment holding company that offers securities and options trading, insurance brokerage, financing, and other related services.
• Advising CCB International as BVI and Cayman counsel on its purchase of convertible bonds issued by Pa Shun Pharmaceutical International Holdings Limited comprising of US$9.28 million of Series 1 convertible bond and US$6.19 million worth of Series 2 convertible bond.
• Advising a leading world bank as Cayman counsel in relation to a US$150m project financing for the purposes of wastewater and sludge treatment, water supply and water environment rehabilitation in the PRC, which paved the way for a series of the bank’s collaboration with the private sector on natural resources and rural development in Asian developing countries.
• Advising a Chinese bank as Bermuda and BVI counsel in relation to a US$166.8m facility for acquisition of oil and gas properties in the USA.
• Advising the largest Norwegian financial services group as Bermuda and Cayman counsel in global ship finance and vessel acquisition deals, including a US$240m loan facilities for the acquisition of ten vessels and a US$700m facility for the collateral arrangements for change of ownership of vessels.
• Advising a leading Swiss bank as BVI and Cayman counsel in a take-private bid of a PRC department store chain by China’s largest online retailer.
• Advising an independent upstream company focused on the exploration, development and production of oil and gas in the basins of South East Asia as Bermuda counsel in a US$122m banking and finance facility.
• Advising a multinational insurance conglomerate on the feasibility of a centralized derivatives trading platform in Bermuda, acting as lead counsel in over 15 jurisdictions.
• Advising PRC UHNWIs on trust formation and administration for family and business purposes.

Speaking Engagement & Publications

Fiona regular speaks at international conferences and offers seminars and training to various law firms and organisations.

These include:

• Blockchain for Finance conference
• Chinese offshore summit;
• Business BVI Asia Annual Regional Conference;
• Establishment of China’s first Family Trust Legal Service Centre in Beijing;
• Asia Private Banking & Family Office Summit;
• Family Office Solutions Showcases ;
• Roundtable discussions organised by BVI House Asia and Asia Insurance Review.

Her expertise is frequently sought by industry and legal journals.  Apart from being an active contributor to Asia Legal Business, China Business Law Journal, IFC Economic Report, China Daily etc, she also contributed to the China Offshore Trusts & Foundations Guide.

Education:

University of Oxford (England)

College of Law, London (England)