Davis Polk & Wardwell is one of the strongest corporate law firms in the region, so it is no surprise that its strength in dispute resolution is in the financial services sector. The firm is active representing global investment banks, accountancy firms, brokers and insurance companies, as well as trading exchanges before regulators – including the HKEX, SFC, SEC, DOJ and Treasury Department. The team also offers recognised capability for the handling of white-collar crime and international arbitration.
Key names in the firm’s commercial, finance and corporate disputes team include Martin Rogers, Karen Chan, Patrick Sinclair and James Wadham. Rogers, Chan and Sinclair also have particular expertise in white-collar crime and regulatory matters.
In the commercial disputes space, during the research period the firm has continued to represent Luckin Coffee, a PRC-based technology-driven retail company listed on the NASDAQ Exchange, in connection with securities class actions filed in federal and state courts in New York, as well as in derivative and opt-out claims that have also been filed. The firm advised Luckin Coffee on a $175 million settlement of the federal class action, which received preliminary approval from the court in October 2021 and final approval from the Federal Court in July 2022. This is the first-ever US securities class action settlement negotiated in the context of a Cayman provisional liquidation.
The firm’s recent client roster includes Asia Cement Corporation, DouYu, Lizhi, Sunlands Technology Group, X Financial and Zhangmen Education.