Thailand

IFLR1000 Reviews

Overview

Solicitors governing body: Thai Bar Association

Competition authority: Office of Trade Competition Commission (OTCC)

Financial regulator: Bank of ThailandOffice of the Securities and Exchange Commission Thailand

IFLR1000 ranking categories: 

Financial and corporate (published October) – Banking and finance, Capital markets, M&A, Project Development, Restructuring and insolvency

Jurisdiction overview

Thailand is the only country in South East Asia that was never colonised, so Thai law has naturally taken on its own identity. Yet this hasn’t made its legal system simpler as it’s largely formed of a mixture of German, Swiss, French, English, Japanese, Italian, and Indian laws and practices. Even today, Islamic laws and practices exist in four southern provinces.

In Thailand there are some restrictions on foreign law firms practising in the country, but the legal sector is generally open to international law firms when compared to other jurisdictions in the region. The likes of Baker & McKenzie, Allen & Overy and Linklaters all have a presence in the country. 

Under the Foreign Business Act, foreign law firms are only allowed to establish joint ventures with a local partner and must register as limited companies. This restricts ownership of the foreign firm in Thailand of up to 49% against Thai ownership of at least 51%. Only lawyers admitted in Thailand holding Thai nationality can give advice, consult Thai laws and appear before the courts. 

Thailand’s real estate, leisure, manufacturing, technology and telecoms industries remain strong as a result of active inbound investment from China and Japan. Myanmar is a key focus for Thai outbound investment. 

Candy Chan - Journalist - Asia-Pacific

Financial and corporate
Chandler MHM

Active in the Thai market since 1974, Bangkok headquartered full-service firm Chandler MHM has market-leading banking and finance and project development practices. Membership of the MHM network allows the firm to cater to client’s needs across the region.

The banking team has experience in advising local and international clients as borrowers and lenders across a range of financing mandates. The firm has built up its capital markets practice, particularly in the REITs space, and often acts for clients such as issuers, fund managers, underwriters and trustees. Membership of the MHM network provides the firm with an edge in the M&A space and the firm often acts for Japanese clients. The projects team regularly acts for sponsors and lenders in renewable projects across the region.

Key clients include China Harbour Engineering, China Railway Signal and Communication (CRSC) International, Nissan Motor, Siam Chemicals, CIMB Thai Bank, Krung Thai Bank, and Export-Import Bank of China.

During the research period the banking team primarily worked on project financing mandates, acting for both lenders and borrowers. The capital markets team was notably active in the REITs space, an award-winning deal saw the firm advising a chemical company in leasing assets to a REIT. The M&A team often acted for buyers on acquisitions across a variety of sectors and also advised on several corporate restructurings. On the projects side, an eye-catching deal saw the firm advising a contractor on a port expansion project.

Recent staffing changes saw the departure of senior counsel Albert Chandler who retired from practice. Additionally, senior partner in the corporate and the energy and natural resources practice Ratana Poonsombudlert left the firm. The corporate team also saw the loss of partner Satoshi Kawai, who returned to Mori Hamada & Matsumoto Tokyo. Coming in, Arkrapol Pichedvanichok joined the corporate team as a senior partner from Allen & Overy.

 

Deal highlights

AAPICO / Sojitz joint venture

BCPG Indochina $222 million acquisition of Nam San 3A and Nam San 3B hydro power projects

Food Factors Company acquisition of Santa Fe Steak

Laem Chabang Phase 3 Expansion PPP

Nissan Motor corporate restructuring

NTT Data $23 million acquisition of Locus Telecommunication

 

Client feedback

Banking

“Chandler MHM has a very experienced banking and project finance team. They have been in the market for a very long time and have a lot of expertise. I have known lawyers at the firm for many years. They have a stable and reliable team. I know them and they know me. We have a good working relationship. I feel they understand my business and are nice to work with. I have a lot of trust in them.”

“CMHM is knowledgeable and has extensive experiences in real estate development and financing. They always work hard and come up with ideas and solutions that are acceptable to the parties, while looking after our interest. Their work product is satisfactory with high standard, and always meet our tight timeline to achieve financial close.”

“CMHM always work hard to accommodate my request and provide their service to my satisfaction. Their advice is precise and practical and they always try to provide solutions to bridge a gap between the parties to achieve successful financial close. They also assist me with complementary legal advice for matters with which I may need preliminary advice from them before the deal materializes and they are formally engaged.”

 

M&A

“Precise guideline and opinion with reasonable fee.”

“Expertise with regards to the topic, better than much larger firms. Also quite responsive timewise.”

“Always provide support with a positive attitude.”

“Always provide support with positive attitude and are able to consult in various fields.”

 

Private equity

“Responsive, commercial and useful advice.”

 

Nuanporn Wechsuwanarux

“Nuanporn Wechsuwanarux is responsive, commercial and provides useful advice.”

“Excellent knowledge on the subject matter, value for money, and good responsiveness.

 

Panupan Udomsuvannakul

“Mr Panupan Udomsuvannakul always shows positive support and shows proficiency in both English and Japanese.”

“He is proficient in both English and Japanese, has a positive attitude in providing services, and is able to catch up on issues.”

 

Pranat Laohapairoj

“He easily gets to the point and is good at providing assistance.”

 

Pranee Klinratana

“Her extensive experiences and knowledge in real estate development and financing are noticeable. She and her team always work hard and come up with ideas and solutions that are acceptable to the parties, while looking after our interest. Her work product is satisfactory with high standard, and always meet our tight timeline to achieve financial close.”

“She always accommodates my requests and provides services to my satisfaction. Her advice is precise and practical and she always tries to provide solutions to bridge the gap between the parties to achieve successful financial close. She also assists me with complementary legal advice for matters which I may need preliminary advice from her before the deal materializes and the firm is formally engaged.”

 

Supattra Sathapornnanon

“Khun Supattra is a joy to work with. We have a good working relationship. I have found her to be very responsive and caring. I can rely on her advice as she has a lot of expertise.”

 

Tananan Thammakiat

“Problem solving and thinking out of the box.”

 

Hunton Andrews Kurth

Active in the Thai market since 1997, Hunton Andrews Kurth’s Bangkok office performs consistently well across the financial and corporate space. The firm sits on the panels of several major financial institutions such as International Finance Corporation, Asian Development Bank, World Bank and Japan Bank for International Cooperation.

The firm is ranked highly in banking and finance, capital markets, M&A, project development and the restructuring and insolvency areas. Areas of focus include energy, infrastructure, technology and telecommunication, banking and financial services, consumer goods and services, and manufacturing.

The firm’s impressive client list includes names such as IFC, Bank of America, HSBC, Asian Development Bank, and JPMorgan Securities.

During the research period the banking team represented lenders and borrowers across a variety of financing transactions. An interesting mandate saw the firm advising the lenders on the financing of the first ultra-hybrid venue in Thailand. The capital markets team often acted for major financial institutions; a recent newsworthy deal saw the firm advising JPMorgan Securities on the issue of the first derivative warrant program in Thailand. In M&A side the firm often took on roles for acquirers across various sectors. A project highlight saw the firm advising a power company on the development of a first of its kind supercritical coal-fired power plant in the Philippines.

 

Deal highlights

Banpu Power Public Company acquisition of 39.4 MW Mekong Dam Nai Wind Farm and 37.6MW El Wind Mui Dinh Wind Farm

Electricity Generating Public Company acquisition of 25% stake in Yunlin Holding

G Steel Public Company $70 million financing

JPMorgan Securities TB10 billion derivative warrants issue

Mauban 500MW supercritical coal-fired power plant

True Icon Hall

 

Client feedback

Banking

"Ability to deliver deliverables within a tight timeline, good service-mind, competitive fee."

 

Project finance

“Commerical and strategic input.”

 

Tip-apa Limvichai

“Easy to access, well-tempered and understands things easily.”

 

James Bradley

“Experience and intelligence.”

Kudun & Partners

Established in 2015, Kudun & Partners has quickly risen in prominence in the financial and corporate space and is especially well-known for its strong capital markets team. KAP boasts setting up the first dedicated China business unit in an independent Thai firm.

The firm is active in banking and finance, capital markets, corporate and M&A, project development and restructuring. The banking team acts for domestic and foreign clients in their roles as lenders and borrowers. The capital markets team has expertise in matters such as IPOs, derivatives, high yield debt, and secondary and follow on offerings. The M&A team caters to clients across the full spectrum of corporate and M&A mandates. The projects team has the capability to advise on domestic mandates as well as across the region and has a particular focus on the renewables space. On the restructuring front the firm advises across a range of matters including corporate restructuring, debt restructuring and the acquisition of distressed assets.

Clients include Earth Tech Environment Company, Finnomena Company, Stark Corporation, B Grimm Power-Energy China Consortium, and Eastern Water Resources Development and Management.

During the research period the capital markets team often acted for issuers on matters such as IPOs, debenture issues and the issue of transferable subscription rights. A recent highlight saw the firm advising a manufacturing company on establishing a fund. The corporate team worked for buyers and sellers across a range of sectors including energy and real estate. A projects’ highlight saw the firm advising a consortium of bidders on the development of the largest hydro floating solar hybrid power project. The restructuring team was recently active on several corporate restructuring mandates.

The firm strengthened its banking and corporate teams with the addition of partner Troy Schooneman from Weerawong, Chinnavat & Partners.

 

Deal highlights

Earth Tech Environment Company SET IPO

KBSPIF Infrastructure Fund

Rich Asia Corporation restructuring

Sirindhorn hydro floating solar hybrid power plant

Stark Corporation acquisition of Thinh Phat Cables and Dong Viet Non-Ferrous Metal and Plastic

Thai Solar Energy rights issue

 

Client feedback

M&A

"Proactive, well-versed with their practice, supportive and goal-oriented."

They have strong knowledge and experience in this area and also can support us in with some commercial solution.”

 

Investment funds

Professionalism, young and stay up to date.

Good professional skill.”

 

Ekachai Chotipitayasunon

“Professionalism, good knowledge and quick to understand.”

 

Kom Vachiravarakarn

“Advisory and hands-on execution”

 

Kudun Sukhumananda

“Good professional skills.”

“Good problem solving with commercial sense.”

 

Piti Kerdpu

“Advisory and hands-on execution”

 

Mayer Brown

With an office in Bangkok since 1991, Mayer Brown is best known for its strong restructuring and insolvency practice. The firm sits on the panels of several international financial institutions including Standard Chartered Bank, BNP Paribas, HSBC, China Development Bank and ANZ.

The firm represents all types of stakeholders across the full spectrum of restructuring and insolvency matters such as liquidations, bond restructurings, and multi-bank workouts.

Sectors of focus include construction and materials, mining and natural resources, industrials and manufacturing and banking and financial services.

The firm acts for big names such as Lone Star, Bain Capital, CIMB, and Standard Chartered.

During the research period, the firm was primarily active for financial institutions on several confidential mandates such as debt restructuring, rehabilitations, and acquisitions of loans.

 

Siam Premier International Law Office

Founded in 1990, Independent law firm Siam Premier International Law Office is a well-known name in the Thai market for high quality corporate and M&A work. The firm maintains its offices in Bangkok.

The firm works on domestic and cross border corporate and M&A transactions for clients such as buyers, sellers and targets. The firm has experience in sectors including automotive, aviation, food & beverage, healthcare, pharmaceuticals, insurance, mining, energy, real estate, logistics, technology and telecommunications.

Notable clients include Novartis, Prudential, InterContinental Hotels Group, Jacobs Holding and United Phosphorus.

During the research period the firm was most active on buy-side roles on acquisitions and corporate restructurings. A high-value deal in the education sector saw the firm advising the acquirer.

 

Deal highlights

Eastspring Investments $137 million acquisition of 50.1% of Thanachart Fund Management

InterContinental Hotels Group $300 million acquisition of Six Senses Hotels Resorts Spas

Jacobs Holding $2.7 billion acquisition of the Cognita group of schools

SCG Packaging $140 million acquisition of an 80% stake in Visy Packaging

United Phosphorus $4.2 billion acquisition of Arysta Lifesciences

The Capital Law Office

Active since 2013, Bangkok headquartered firm The Capital Law Office is known for its top-quality capital markets work, and is also active in M&A.

The capital markets team has extensive experience in acting for both issuers and underwriters and advises on an array of matters including the issue of equity, equity-linked products, debt instruments and derivatives in domestic and international markets. Sectors of focus include energy, retail, real estate, and logistics.

Key clients include Central Retail Corporation, Dohome. Samart Corporation, Indorama Ventures, BTS Group Holdings, and Thai Nippon Rubber Industry.

During the research cycle the firm was mostly active in capital markets work. On the debt side the firm acted for issuers on debenture and bond issues. On the equity side the firm mainly acted for issuers on IPOs. A highlight saw the firm advising the issuer on the largest IPO in Thailand to date.

 

Deal highlights

Boutique Corporation SET IPO

Central Retail Corporation SET IPO

Dohome SET IPO

Inter Pharma SET IPO

Samart Corporation SET IPO

 

Client feedback

M&A

"Cooperative."

 

Paradorn Leosakul

“He is knowledgeable and experienced in M&A and capital markets practice. Always provides a careful and practical legal solutions.”

Weerawong Chinnavat & Partners

Founded in 2009, Weerawong Chinnavat & Partners is one of the most well-recognised names in the Thai legal market and is ranked at the top across all the financial and corporate rankings.

The firm provides top quality advice in banking and finance capital markets, M&A, project development and restructuring and insolvency. The firm takes on clients from a host of sectors including banking and financial services, consumer products, industrials and manufacturing, technology and telecommunication, real estate, oil and gas and energy.

Key clients include PTT Public Company, Port Authority of Thailand, Thai Airways, Exploration and Production, Asset World, HSBC, Citigroup Global Markets, Sumitomo Mitsui Banking Corporation, and United Overseas Bank.

During the research period the banking team took on roles for both borrowers and lenders across a range of sectors. A high-value acquisition financing mandate saw the firm advising Global Power Synergy as the borrower.

The capital markets team was active on several liability management exercises, Exploration and Production featured as a repeat client. A noteworthy capital markets highlight saw the firm advising Asset World on its IPO.

On the M&A side the firm took on roles for buyers, sellers and joint venture partners across a range of sectors.

In projects the firm often acted for government bodies; a significant development saw the company advising the Government of Thailand on drafting the new Public-Private Partnership Act. Another highlight saw the firm advising a government body on the development of the Don Mueang–Suvarnabhumi–U-Tapao high-speed railway.

The restructuring team was recently active for a range of stakeholders including debtors, creditors and administrators.

 

Deal highlights

Asset World SET IPO

Don Mueang–Suvarnabhumi–U-Tapao high-speed railway

F&N Retail Connection / Maxim’s Group joint venture

Global Power Synergy $4.1 billion acquisition of a majority stake in Glow Energy

Global Power Synergy $4.4 billion financing

Saha Farms and Golden Line Business restructuring

TTCL Public Company $85 million divestment of stake in TTCL Gas Power

U-Tapao International Airport

 

Client feedback

M&A

"Very good commitment, strong knowledge about the business and meticulous work."

 

Panuwat Chalongkuamdee

“Very good knowledge and clear in problem solving.”

Baker McKenzie

As one of the largest law firms in Thailand, Baker McKenzie is a household name in the Thai legal market and excels in all transactional matters. The firm has over four decades of experience in the market and is located in Bangkok. Wynn Pakdeejit serves as managing partner.

 

Focusses / specialisms

The firm provides high-quality advice across all practice areas.

The banking and finance team is experienced in an array of matters, including acquisition financing, project financing, loan facilities, corporate financing and aircraft leasing deals.

The firm’s renowned capital markets practice stands out, particularly in terms of its derivatives and structured finance work, and boasts the largest market share in structured products transactions in Thailand.

In M&A the firm focuses on consumer goods, energy and infrastructure, mining, banking and financial services, healthcare, hospitality, industrials and manufacturing, and technology and telecommunications.

The firm has a historically strong projects practice with a key focus on PPPs.

The firm’s restructuring team advises a wide range of clients such as debtors, creditors, liquidators, government entities and plan administrators.

 

Key clients

The firm’s impressive client list includes FWD Group, Grab, Thai Life Insurance, PTT Oil and Retail Business Company, Takeda, Bangkok Bank, Manila Water, Gulf Energy Development, Glow Energy, and Deutsche Bank.

 

Research period review: 30th edition (2019/2020)

During the research period, the banking team took on roles for both borrowers and lenders. An award-winning deal saw the firm advise the borrowers in the financing of the fourth-largest power plant in Thailand.

A recent capital markets highlight saw the firm acting for the issuer on a landmark issuance of green bonds.

A high profile corporate and M&A deal saw the firm advise on the merger of TMB Bank and Thanachart Bank. In another headline-worthy deal, the firm acted for the acquirer in the region’s largest insurance M&A to date.

The projects team recently took on several roles for sponsors, developers and bidders. A newsworthy deal saw the firm act for the developers in the development of Thailand's largest hyper-scale data centre. Another standout deal saw the firm act for a financial institution in a significant social infrastructure development project.

A high-value restructuring deal saw the firm act for the trustee in the bankruptcy of Finspace.

Staffing changes saw the departure of projects partner Theerapab Punyasakhon who left for Gunkul Engineering. Partner Waranon Vanichprapa also left the firm in favour of DLA Piper.

 

Deal highlights: 30th edition (2019/2020)

Electricity Generating Public Company $95 million acquisition of a 44.6% stake in Thai Pipeline Network

FWD Group $3 billion acquisition of SCB Life Assurance

Finspace insolvency

Grab / Central Group joint venture

M6-M81 Motorway

Rojana Industrial Park 2,500 MW Power Plant

Ramkhamhaeng hyper-scale data centre

TMB Bank / Thanachart Bank merger

 

Client feedback: 30th edition (2019/2020)

Banking

“They have a very mature practice with a tremendous amount of depth and experience. They are also good about spreading the work among the team and training up successive generations of lawyers.”

“Knowledge level in what's going on and new development around digitization. Ability to share and articulate. Willingness and trustworthiness.”

“Doing legal research and preparing legal documentations.”

“Not only very good legal knowledge and services, but also very fine commercial perspective advice.”

 

Capital markets : Equity

“Professional, quick turnaround time, responsive, and polite.”

 

 

Financial services regulatory

“Coordination with regulators and clear and prompt advice.”

 

“They are very keen in financial markets. Baker has a number of lawyers who are qualified as "knowledgeable Lawyer" on such topics. The advice given is always practical to implement.”

“Knowledge of both the business and being well-known to and respected by the authority. Responsive and engaged.”

 

M&A

“Actively contact with regulators and related parties to have a smooth process.”

“Can-do attitude. Knowing what the business wants and trying to accommodate between legal restriction and the business needs. Trying to think of being in client's shoes and proactive thinking.”

 

“Professional correctness and timeliness.”

 

“The firm, specifically, Mr Panyavith was able to advise me through the take over bid and made sure that I had complete control during the take over bid. Without his valuable insight and careful work, I could have lost my advantage, and the take over might not have happened.”

 

 

 

Project development

“Knowledge of the law, time and attention, strategic advice to engage in negotiation with counterparts, and a dedicated person for the company.”

 

 

Restructuring and insolvency

“Quick feedback and English.”

DFDL

DFDL has had a permanent presence in Thailand since 2005 and has offices in Bangkok and Samui. The firm is a regional player with offices in jurisdictions including Cambodia, Indonesia, Laos, Myanmar and Vietnam.

 

Focusses / specialisms

While the firm is best recognised for its project development practice, it is also strong in banking and finance and M&A.

The firm has been appointed to the panels of several financial institutions including ANZ, Standard Chartered, International Finance Corporation, and the Asian Development Bank.

The firm’s banking team acts for clients such as domestic and international banks, sponsors, private and institutional investors, insurance companies, development banks and SOEs. 

In the capital markets area, the firm has experience acting on domestic and cross-border transactions for clients such as issuers and underwriters.

DFDL’s corporate and M&A activities span sectors including energy, financial services, technology, aviation, industrials and manufacturing, hospitality and retail.

The projects team works on projects throughout the region and has extensive experience in advising stakeholders such as sponsors, lenders, developers and development agencies.

 

Key clients

Key clients include Siam Commercial Bank, Bank of China, International Finance Corporation, Decathlon, B Grimm Power, Total Solar and USAID.

 

Research period review: 30th edition (2019/2020)

During the review period, the firm often acted for financial institutions on financing transactions and financial services regulatory matters. The firm also notably advised a regional airline on aircraft leasing.

The corporate and M&A team acted for buyers and sellers on acquisitions and also advised on regulatory compliance matters. A newsworthy M&A deal saw the firm advise Grab on an investment from SoftBank’s technology fund.

A high-value cross-border projects deal saw the firm advise the sponsors on the development of a power plant in Laos. Another interesting mandate saw the firm advise a development agency on setting up the first auction of a power project in Laos. A confidential highlight saw the firm advise a financial institution on the development of a project in the transport sector.

A recent staffing change saw the departure of partner Wei Liu.

 

Deal highlights: 30th edition (2019/2020)

Supreme Treon acquisition of Futuris Automotive’s interior trims and NVH business

SoftBank Vision Fund $1.5 billion investment in Grab

U-Tapao International Airport development

Xekong 1800MW mine mouth coal fired power plant

 

Client feedback: 30th edition (2019/2020)

M&A

“Dedicated, articulate and technically sound.”

JTJB International Lawyers

Mid-sized firm JTJB International Lawyers maintains an office in Bangkok and is recognised for its project development work. The firm recently expanded its legal network by entering into a strategic partnership with Chinese firm Tahota Law Firm.

The firm is active in sectors including energy, technology, and food and beverage.

Clients include Solarxell Corporation, Raimon Land Public Company, OBOOK, Green Energy Investment Holding.

An interesting recent deal saw the firm advising a renewable energy company on a rooftop solar project. The firm also took on regulatory compliance and market entry work.

 

Deal highlights

Green Resource THB340 million acquisition of a solar farm    

R&T Asia

Rajah & Tann’s Thailand office is located in Bangkok and houses nearly 60 lawyers under the leadership of managing partner Surasak Vajasit. Membership of the Rajah & Tann Asia network allows the firm to act on multi-jurisdictional deals.

 

Focusses / specialisms

R&T Asia in Thailand has a strong projects practice, primarily focusing on the infrastructure and transport sectors.

 

Key clients

Recent clients include State Railway of Thailand and KPMG Services.

 

Research period review: 30th edition (2019/2020)

During the research period, the banking team acted for banks as lenders on project financing transactions.

The projects team notably acted on the development of the first high-speed rail infrastructure project in Thailand. Other notable highlights include acting for the advisors of the U-Tapao International Airport project and assisting with the establishment of the Aeronautical and Space Training Center.

 

Deal highlights: 30th edition (2019/2020)

Aeronautical and Space Training Center

Sino-Thai high-speed rail project 

U-Tapao International Airport development

SCL Nishimura

SCL Nishimura is the product of the 2019 acquisition of local law firm SCL Group by Japanese law firm Nishimura & Asahi. The firm has offices in Bangkok and Hua Hin.

 

Focusses / specialisms

The firm is recognised for its work in the banking and finance, capital markets, corporate and M&A and project development spaces.

The banking team advises clients across an array of financing transactions and also advises on financial services regulatory work.

The capital markets team is capable of advising on a range of debt and equity transactions and also advises on matters involving hybrid securities.

The M&A team acts for clients such as international corporations, private investors, financial institutions and hedge funds on matters such as mergers, acquisitions, joint ventures, restructuring and regulatory compliance.

The projects team advises clients such as sponsors and lenders on energy, infrastructure, mining and oil and gas.

 

Key clients

Key clients include Medco Energi Internasional, Tri-Stage, Sermsang Power Corporation, CoorsTek, and Charoen Energy and Water Asia.

 

Research period review: 30th edition (2019/2020)

Recent banking highlights include acting for borrowers on project and acquisition financing.

In capital markets, the firm advised local companies on their IPOs on the SET.

A high-value deal on the corporate side saw the firm advise a Japanese client as the acquirer on a significant transaction in the industrials and chemicals sector. Another notable deal saw the firm advise a Japanese client on entering into a joint venture with a Thai company.

Tilleke & Gibbins

Regional player Tilleke & Gibbins has been headquartered in Bangkok since 1890. The firm has offices across the region in major cities including Hanoi, Ho Chi Minh City, Jakarta and Yangon.

 

Focusses / specialisms

The firm is strongest in M&A and project development and performs consistently in banking and finance, capital markets and restructuring and insolvency.

In banking work, the firm advises local and foreign banks, securities brokers and dealers, investment firms, and financial institutions across the gamut of financial instruments.

The capital markets team has extensive experience advising on debt and equity transactions and regulatory compliance. The firm often acts on primary and secondary listings on both domestic and foreign exchanges.

The corporate team’s experience covers a range of sectors such as technology and telecommunications, industrials and manufacturing, logistics, real estate, pharmaceuticals and agriculture.

The projects team often advises contractors and financial institutions on projects in Thailand and across the region. Types of work include advising on power-sharing agreements, EPCs, regulatory compliance and PPPs.

 

Key clients

Notable clients include Grab, Morgan Stanley, BlackRock, Goldman Sachs, Weiss Asset Management, M&G Prudential, Marsh and McLennan Group, Mitsubishi Corporation, and Liqui-Box Corporation.

 

Research period review: 30th edition (2019/2020)

During the review period, the banking team advised on a range of matters, including aircraft leasing, project financing, and financial services regulatory.

A capital markets highlight saw the firm advise a foreign client on a landmark cross border listing. The firm also took on several regulatory compliance matters.

A standout M&A deal saw the firm advise the Marsh and McLennan Group on their high-value acquisition of the Jardine Lloyd Thompson Group. Another newsworthy deal saw the firm act for Grab on an investment from Central Group. The firm also acted for Liqui-Box Corporation on its acquisition of DS Smith’s plastics division.

A high profile mandate saw the firm advise General Motors in winding down its presence in Thailand.

The projects team notably acted for the bidders in the development of mega infrastructure projects.

The firm underwent significant staffing changes with the additions of partner Joseph Tomkiewicz from Chevron, and Supasit Boonsanong, Prisna Sungwanna, Charuwan Charoonchitsathian and Tanadee Pantumkomon from Phenomena. Ross Taylor also joined from SCM Legal Myanmar while partner and director Piyanuj Ratprasatporn retired from legal practice.

 

Deal highlights: 30th edition (2019/2020)

Bang Pa-In – Nakhon Ratchasima (M6) intercity motorway

Bangkok–Nong Khai high-speed railway

Laem Chabang Port Phase 3

Map Ta Phut Industrial Port Phase 3

Liqui-Box Corporation $585 million acquisition of DS Smith’s plastics division

Marsh and McLennan Group $5.6 billion acquisition of Jardine Lloyd Thompson Group

 

Client feedback: 30th edition (2019/2020)

Financial and corporate

“Provide legal opinion and advice with practical and useful guidance.“

 

Financial services regulatory

“Knowledgeable in the regulations, commercial minded and efficient in their advice.”

 

Investment funds

“Excellent English, responsive and diligent.”

 

M&A

“This is the first time we decide to set-up a legal entity in Thailand, but we know nothing about Thailand law. Upon our request, Tilleke & Gibbins promptly provided a clear and precise legal framework to us, which is very helpful for us to come up with an optimal business strategy and decision.”

“Their response was quick and sure.”

“Strong leadership skills in coordinating work within the region, deep knowledge of both legal and practical business, and very responsive and high quality work.”

“The quality of the lawyers was satisfactory. Experienced, well organized, and very supportive.”

“I have a long-term good relationship with the corporate dept of this firm and they have great performance with sufficient and reliable analysis, quick correspondence, and sincere responses towards follow-up questions. They also have flexibility on the fee quote.”

“Professional insights, timely response and a friendly attitude. Satisfactory DD report with reasonable costs.”

“Super responsive, clear, and helpful.”

 

Project development

“Knowledge of industry and timeliness of response.”

“Joe is a seasoned oil and gas attorney who has experience in all stages of project development.  His applies his experience in resolving disputes to avoid problems at the front end in a way that seems he has a 360-degree vision.  He also masterfully mobilized the correct resources and drives progress to achieve business objectives.”

 

ZICOlaw

Full-service law firm ZICO Law has had an office in Bangkok since 2006. The firm is a member of the ZICO Law network and is capable of advising clients on matters throughout the region. Key figures include executive partner Threenuch Bunruangthaworn and partner Archaree Suppakrucha.

 

Focusses / specialisms

The firm is noted for its banking and M&A capabilities.

In banking, the firm has experience representing local and foreign banks, financial institutions, insurance companies, hedge funds and corporations.

ZICOlaw’s corporate and M&A team advises on both inbound and outbound matters. The firm takes on clients from a diverse range of sectors including real estate, fintech, automotive, social infrastructure and energy.

 

Key clients

Clients include RISA Partners.

 

Research period review: 30th edition (2019/2020)

During the research period, the firm notably took on several mandates in the fintech space and often advised on regulatory compliance matters. The firm also acted for lenders on cross border financings.

 

Deal highlights: 30th edition (2019/2020)

Aquaria Phuket development

Lightnet series A financing