- Broad & Bright Advised Wanxiang Holdings’ Investment on a Block Chain Project
Recently, Wanxiang Holdings and Fenbushi Capital announced an investment of RMB 150 million on a block chain start-up company, which is so far the largest Series-A investment in the block chain industry countrywide. Mr. Roland Sun, a legal expert in block chain, from Broad & Bright and his team provided legal service to this project.
On September 23, 2016, Wanxiang Blockchain Labs hosted the “2nd Blockchain Global Summit 2016”, releasing the details of this start-up project with the largest amount of domestic financing. Attendees of the release conference include: Dr. Feng Xiao, the vice president and executive director of Wanxiang Holdings Limited Company and founder of Wanxiang Blockchain Labs; Mr. Quming Tao, partner of Wanxiang Blockchain consulting service and general manager of Wanyun platform; Mr. Bo Shen, founding managing partner of first venture capital investment management fund Fenbushi Capital focusing on block chain technology worldwide; and Mr. Lilin Sun, founder and CEO of Juzhen Finance and deputy director of technical committee of China Ledger. During the summit, Dr. Feng Xiao announced that Wanxiang Blockchain Labs will unite various multinational giants and many Blockchain innovation companies and institutions to jointly develop and construct a10-square kilometerWanxiang innovation power city in Hangzhou Xiaoshan.[More...]
- Publication of "Practical Guidance for Investing in Japan"
The book "Practical Guidance for Investing in Japan" has been published by Shanghai Translation Publishing House. This book is jointly produced by Broad & Bright and Toranomon Chuo Law Firm, with Mr. Yifan Chen of Broad & Bright as one of the chief editors.
In recent years, with the encouragement of Going out” strategy of the Chinese government, more and more Chinese enterprises intend to make investment in Japan. In order to fully answer the doubts and questions of Chinese enterprises regarding investing in Japan, Broad & Bright gathered a number of Chinese and Japanese experts to compile this book from the perspective of Chinese enterprises.
This book not only introduces the legal practice in relation to the investment in Japan to professional readers, including approval formalities of domestic government departments, and establishment registration, M&A, equity investment of overseas Japanese companies, it also provides Japanese industrial policy information, real estate investment, cultural etiquette and other contents, which are easy to understand for non-professional readers.
For more specific information about making investments in Japan, please contact our official e-mail at (email@example.com) to buy this book.[More...]
- Successful Closing of 2016 Forum on Chinese Enterprises’ Investment in Japan Held by ALB and Broad & Bright
The forum on Chinese Enterprises’ Investment in Japan jointly hosted by Thomson Reuters ALB and Broad & Bright was successfully held in the Westin Beijing on September 21. The forum aims to help Chinese enterprises to fully understand the potential issues they may encounter when making investment in Japan.
At 1:30 p.m., Mr. Yifan Chen (Head of Broad & Bright Tokyo office, Registered Foreign Lawyer), general host of the forum, announced the opening of the forum. Mr. Jun Ji, founding partner of Broad & Bright and Kazuo Imai, founding partner of Toranomon Chuo Law Firm respectively gave their opening speeches to express their sincere greeting and warm welcome to the guests, and briefly introduced professional background of Broad & Bright and Toranomon Chuo Law Firm regarding making investments in Japan, as well as their expectations on Chinese enterprises to “Going out”. Thereafter, as invited by the host Mr. Hongliang Yin (partner of Broad & Bright), Mr. Ken Hirano, partner of Toranomon Chuo Law Firm and Mr. Weiwei Weng, partner of Broad & Bright went onto the stage, explicitly explained legal issues in relation to direct investment in Japan, including latest trend of foreign and Chinese enterprises investing in Japan, primary methods for investment and M&A in Japan, as well as notices and solutions for investment in Japan. The accurate interpretation and fluent expression by Mr. Taotao Zhu (partner of Broad & Bright) helped the guests easily understand the essence of this topic.
The next topic about commercial dispute of Chinese enterprises in Japan is hosted by Mr. Yanjie Lian, partner of Broad & Bright. He raised six questions to the keynote speakers Mr. Takayuki Ariga (Partner of Toranomon Chuo Law Firm) and Ms. Dongmei Han (partner of Broad & Bright), regarding the difference between litigation and arbitration in Japan, basic procedure for Japanese litigation, and the comparison between Chinese and Japanese litigation, etc. At last, a practical case was shared. It was quite wonderful and impassioned on site.
After the tea break, Mr. Takumi Hamamoto, partner of Toranomon Chuo Law Firm delivered a speech. Mr. Katsutoshi Nakamura perfectly conveyed Mr. Takumi Hamamoto’s appreciation to the attendees and expectations for future cooperation in Chinese. Afterwards, Mr. Yifan Chen, (Head of Broad & Bright Tokyo office, Registered Foreign Lawyer) started and hosted the discussion of the last topic. Mr. Kenji Shoda (Partner of Toranomon Chuo Law Firm) and Mr. Taotao Zhu (partner of Broad & Bright) jointly made deep and thorough analysis on “Practical Issues of Japanese Labor and Employment”. The interpretation by Mr. Feng Zhao made the audiences almost forget that the lecture was in a foreign language. Through the elaboration of the two guests, the other guests could easily understand the comparison between Chinese and Japanese legislation system of labor law, employment form, legal procedure in formulation of employment rules, conclusion of labor contracts, and modification of labor contracts.
The panel discussion was ended with the brilliant closing speech made by Mr. Norio Yamazaki, Partner of Toranomon Chuo Law Firm.
The communication session was followed, during which the guest mingled with the colleagues, and exchanging gains and feelings about the forum over the cocktail, or they re-encounter their old friends and talk happily with each other. As the host of this event, we sincerely appreciate every guest for attending the forum, and faithfully expect to meet you again!
For more detailed information about making investments in Japan, please refer to the book, Practical Guideline for Investing in Japan, co-edited by Broad & Bright and Toranomon Chuo Law Firm, which was available in September this year.[More...]
- Mr. Yifan Chen Spoke at the LexisNexis Summit Forum on Overseas Investment on Behalf of Broad & Bright
On August 31, 2016, Mr. Yifan CHEN, on behalf of Broad & Bright, made a keynote speech on the Japan investment practice session of LexisNexis series forum regarding overseas investment, “Global Wisdom, Chinese perspective” (Shanghai).
This forum attracted nearly 200 legal counsels of Chinese enterprises. Under the general trend of “Going out”, Chinese enterprises have realized that in the process of making overseas investment, they need to be aware of domestic rules and rules of target countries to be invested in, also they need to understand the cultural and political environment of the target country. Under such circumstance, as a mediate bridge, professional support from law firms is indispensable.
Mr. Yifan CHEN, partner of Broad & Bright and an expert in the field of investing in Japan, introduced several hot practical issues for investing in Japan and preferential policies in Japan provided for foreign investors in a profound but easy-to-understand way from his own experience. After the meeting, numerous Chinese enterprises expressed their willing to get further knowledge about concrete issues in the process of investing in Japan.
More specific contents regarding investing in Japan can be found in the book, Practical Guidance for Investing in Japan, jointly edited by Broad & Bright and Toranomon Chuo Law Firm, which will be available at the beginning of September.
- Broad & Bright held the seminar on “Judicial Support for Arbitration Procedure” and “Introduction on Layoff Practice”
Broad & Bright held a seminar on “Judicial Support for Arbitration Procedure” and “Introduction on Layoff Practice” on August 24, 2016. As the keynote expert speakers. Mr. Yanjie LIAN and Mr. Yifan CHEN, partners of Broad & Bright, made splendid speech respectively on the aforementioned topics.
This seminar was held in Broad & Bright Shanghai office, more than ten corporate legal counsels/management representatives attended the seminar. During the speech, Mr. Yanjie LIAN made detailed introduction and conclusion on judicial support for arbitration procedure; while Mr. Yifan CHEN conducted practical analysis in a profound but easy-to-understand way by referring to a classic layoff case. The audiences obtained new knowledge on the above topics through the excellent speech made by the two partners. During the Q & A session, attendees had further profound communication with the two speakers with regard to relevant issues both in the speech and in practice. This seminar also provided a mutual communication platform from different aspects for experts and scholars interested in arbitration procedure and layoff issues in labor law.
- Several areas of Broad & Bright were recommended by Asialaw
Recently internationally renowned legal rating agency Asialaw Profiles announced its annual list of 2016. Asialaw Profiles focuses on commercial legal services in Asia, selects and announces the year’s leading law firms and lawyers every year.
Broad & Bright got recommended in following areas at different levels:
Outstanding area: Competition & Antitrust
Highly recommended area: Corporation / M & A, Labour & Employment
Recommended area: Banking & Finance, Capital Markets, Construction & Real Estate, Dispute Resolution & Litigation, Financial Services Regulatory, Private Equity, Projects & Infrastructure, Restructuring & Insolvency, Taxation
Following partners were rated as Leading Lawyers in different areas:
Yao Feng (Competition & Antitrust), Hongchuan Liu (Corporate / M&A), Jun Ji (Dispute Resolution & Litigation, Intellectual Property), David Wang (Banking & Finance, Corporate / M&A), Philips Z. Ding (Energy & Natural Resources, IT, Telco & Media).
- Broad & Bright was nominated for China Law Awards 2016 by China Law & Practice
Recently the well-known law journal China Law & Practice announced nomination list of China Law Awards 2016, Broad & Bright was nominated for the following awards:
TMT Deal of the Year – Qihoo 360 $9.4B Privatization
Competition Lawyer of the Year –Yao Feng
Award research and review were conducted independently by editorial team of LAM’s China Law & Practice, Asian Lawyer, American Lawyer and Legal Week. Final Recipients will be announced on Annual Awards Ceremony on September 21, 2016 by China Law & Practice. The award aims to reward the outstanding performance of law firms and lawyers in cross-border transactions. Nomination of this year fully demonstrates the surge in trading volume in the lucrative Chinese market and law firms’ outstanding performance.
- Broad & Bright Recognized as Top 20 Chinese Law Firms by Phoenix International Think-tank 2016
On July 28, 2016, Phoenix International Think-tank issued, for the first time, the ranking of Chinese law firms with respect to the internationalized service capacity. As shown from the calculation result, Broad & Bright, with its outstanding comprehensive professional competence, entered into the list, ranking No. 19. Amongst the ranking of various professional fields, Broad & Bright was recognized on the list in four fields, namely, Labor Law, International Trade and WTO, Antitrust & Competition, and Corporate M&A. Among which, Antitrust & Competition field ranked No. 2, Labor Law field ranked No. 5, International Trade and WTO field ranked No. 6, and Corporate M&A field ranked No. 7.
The release conference was held in Sunworld Dynasty hotel at 2 p.m. on July 28. Mr. Chuangchun Yuan, founding partner of Broad & Bright and Mr. Yifan Chen, partner who is in charge of Broad & Bright Tokyo office attended the conference on behalf of Broad & Bright. The conference issued its first industry evaluation report regarding international legal risk management for Chinese enterprises, Enterprises Overseas Legal Risk Management Report 2016, as well as the ranking list of law firms. Meanwhile, the conference also discussed on how to cast the legal safety net to protect people and property. More than 60 representatives from enterprises and law firms attended the conference and engaged heated discussions on relevant topics.
- Broad & Bright Engaged as Expert Advisor of Japan External Trade Organization (JETRO) Shanghai Office.
In recent years, more and more Chinese companies intend to invest in Japan under the encouragement of the Chinese government's "going out" strategy. Recently, Broad & Bright was engaged as an expert advisor in respect of investing in Japan by Japan External Trade Organization (JETRO)※ Shanghai Office. JETRO and Broad & Bright reached a cooperative agreement that both parties will make corporative efforts to provide professional services for Chinese companies’ investment in Japan and to explore Japanese market.
In the afternoon of July 20, 2016, Mr. Chen Yifan of Broad & Bright, an expert of investing in Japan, visited JETRO Shanghai Office, and had in-depth communication with Vice President Mr. Daisuke Iida and Supervisor of Invest Japan Department Ms. Huiling Yu. They all expressed that both sides share the same goal of helping and encouraging more Chinese enterprises to understand Japan and to invest in Japan.
Meanwhile, Mr. Chen Yifan also introduced the role which Broad & Bright can play in carrying out the invest-in-Japan business. Broad & Bright can provide full services timely with support from Broad & Bright’s domestic offices in matters, ranging from domestic filing procedures to the overseas procedures such as registration of Japanese companies, mergers and acquisitions, equity investment. In addition, in order to answer the Chinese investors’ doubts in the investment process in an all-round way, Broad & Bright invited Chinese and Japanese experts to edit the book Practical Guide for Investment in Japan (scheduled to be public in September 2016).The book not only introduces the legal practice of investment in Japan towards professional readers, but also provides non-professional readers with easy understanding information concerning Japanese industrial policy, real estate investment and cultural manners. Vice President Mr. Daisuke Iida showed a strong interest in Broad & Bright’s developing plan of investment in Japan. He also expressed that they are willing to cooperate and communicate with Broad & Bright in various areas if there are chances.
※JETRO is a governmental organization affiliated to the Ministry of Economy, Trade and Industry of Japan and is the executive body of Japanese trade policy, which is responsible for promoting international investment and trade. So far, JETRO has 44 offices throughout Japan including 8 offices in China (including Hong Kong).JETRO can mobilize internal and external resources to provide foreign enterprises intending to do business in Japan with information and consultation on all aspects.
- Broad & Bright advised Fenbushi Capital (as a co-investor) on the closing in June 2016 of the US$ 72 million Series D financing of Circle, a global leading blockchain-based payment solution provider. Being the largest venture round in the blockchain industry worldwide since the beginning of 2016, the financing was led by IDG and followed by such known institutional investors as Breyer Capital, Baidu, CICC Alpha, Everbright. Our Partner Roland Sun is the lead partner of this project.
- On June 2, 2016, Mr. Yifan Chen and Mr. Taotao Zhu, labor law specialists and partners of Broad & Bright, attended the seminar organized by the Japanese-invested enterprises in Shanghai. Mr. Chen gave a speech featuring labor law problems (layoff and dismissal) among Chinese companies and had a site discussion regarding the labor law problems encountered by the companies during their daily operation.
- On June 1, 2016, Mr. Yifan Chen, labor law specialist and partner of Broad & Bright, attended the 152nd China Lawyers Club organized by Japan International Commercial Law Journal. Mr. Chen gave a speech featuring labor law problems (layoff and dismissal) among Chinese companies and had a site discussion regarding the labor law problems encountered by the companies during their daily operation.
- On May 25, 2016, Mr. Taotao Zhu, partner based in the Guangzhou Office of Broad & Bright, attended the special lecture co-hosted by Japan External Trade Organization（JETRO）and Foshan Cherry Association. Mr. Zhu made a key note speech to around 10 representatives from the Japan-invested enterprises on the topic of the layoff issues among Chinese companies. The key note speech on the same day also includes the speech featuring visa issues made by the consul from Consulate of Japan in Guangzhou.
- Broad & Bright advised Wanxiang Blockchain Labs on its founding "ChinaLedger" together with over ten other entities. With the establishment announced on April 19, 2016, ChinaLedger is the first-ever consortium in China focusing on distributed ledgers underlying protocol and blockchain technology research and development. Members of ChinaLedger include financial institutions, equity and asset exchanges and fintech companies across the country while Wanxiang Blockchain Labs serves as the secretariat of the consortium. Our Partner Mr. Roland Sun is the lead partner of this project.
- Broad & Bright and Toranomon Chuo Law Firm advised a famous Chinese travel company on its establishment of a Tokyo branch. Our partner Ms. Haiping Sun led the case with support from the Japanese lawyers from the international business department of Toranomon Chuo Law Firm.
- Broad & Bright represented a well-know Japanese manufacturer in a lawsuit regarding disputes on bill of exchange in China, with all claims upheld by the court. Our partner Ms. Haiping Sun led the case with supported from Mr. Xiaote Jin and others.
- Broad & Bright represented a well-know Japanese company on its acquisition of a Chinese consumer goods distribution company by means of asset transfer. Our partner Ms. Haiping Sun led the case with supported from Mr. Xiaote Jin and others.
- Broad & Bright represented a well-know Japanese company on investment to a major veterinary-drug manufacturer in Shandong, China by means of capital increase and equity transfer. Our partners Mr. Jun Ji and Mr. Weiwei Weng led the team headed by Ms. Haiping Sun with support from Ms. Lihua Yin, Ms. Yali Lu and Mr. Xiaote Jin.
- Broad & Bright advised a foreign invested manufacturing company on its labor disputes case. The employee claimed against the company for illegal termination of labor contract. However, the case was settled at the final arbitration stage with an amount far less than the claimant's claimed amount. This case was managed by our partner Mr. Yifan Chen, and was represented by Ms. Hua Ji and Ms. Yiming Huang.
- Broad & Bright advised a Japanese-invested enterprise on the termination of labor relationship with one of its senior management personnel, who has been on a waiting post with full payroll for almost two years. Broad & Bright team advised on the whole process of plan making, several rounds of negotiation and making notification, and managed to assist the company to terminate the its labor contract with such senior management personnel within the statutory severance amount. Mr. Yifan Chen led the Broad & Bright team with the support from Ms. Hua Ji, who participated in the entire implementation and negotiation process.
- Broad & Bright advised a Japanese company on its overall employee settlement resulted from its asset transfer, and provided legal services thereon. Mr. Yifan Chen led the team supported by Ms. Hua Ji and Mr. Kaiyuan Xu. The total number of the settled employees reached 400 people. Upon the company's official announcement on the cancellation of the assembly line department, a total of 28 employees refused the company's proposed termination plan by negotiation. Upon the company's unilateral termination of their labor contracts, labor arbitration and litigation arose. Ms. Hua Ji and Mr. Kaiyuan Xu represented the company and won the labor arbitration. Currently, this case was closed in the trial of first instance, with all employees accepting the mediation plan insisted by the company.
- Broad & Bright advised a Japan's leading manufacturers in its recombine, involving Company’s set up and logout, transfer of more than 200 employees and so on. Ms. Haiping Sun led the team with the support from Ms. Hua Ji, Mr. Kaiyuan Xu and other associates.
- Keith Yuan, partner of Broad & Bright, led the team to represent Chengdu Detong Yinke Venture (DT Capital Group) in its Pre-IPO Series investment in a Chinese high-tech agricultural products developing and processing enterprise. Broad & Bright advised DT Capital in its transaction documents and related PRC legal issues. Mr. Keith Yuan led Broad & Bright team with support from Ms. Shirley Lu.
- Keith Yuan, partner of Broad & Bright, led the team to represent Chengdu Detong Yinkejincheng Venture (DT Capital Group) in its Series-A investment in a TMT enterprise. Broad & Bright advised DT Capital in its transaction documents and related PRC legal issues. Mr. Keith Yuan led Broad & Bright team with support from Ms. Shirley Lu.
- Keith Yuan, partner of Broad & Bright, led the team to represent Vitop Bioenergy Holdings Limited in advising its affiliated subsidiary in acquiring several commercial properties in Guangzhou. Keith Yuan led Broad & Bright team with support from Shirley Lu and Yuanyuan Zhu. Vitop Bioenergy Holdings Limited is a listing company on HKEx with Stock Code No. 1178, combining production and marketing business of healthcare products, multi-functional water generators as well as business of real estate investment.
- Keith Yuan, partner of Broad & Bright, led the team to represent V1 Group Limited in advising its subsidiary V1 Group Information Engineering Co., Ltd. in contemplating and refining its contractual arrangements so to consolidate the account statement and interests of Beijing V1PIN E-Commerce Co., Ltd. Broad & Bright provided legal support for the project. Mr. Keith Yuan led Broad & Bright team with support from Ms. Shirley Lu and Ms. Yuanyuan Zhu. V1 Group Limited is a listing company on HKEx with Stock Code No. 0082, its focused business covers TMT, lottery, and mobile games business. Beijing V1PIN E-Commerce Co. Ltd. operates the platform of www.v1pin.com which is providing healthcare products, skin care products and personal care products to female consumers.
- Broad & Bright advised a Japanese company for its settlement of more than 200 employees as a result of its failure to continue operation due to outstanding company debts. Mr. Hui Dong led the team with the support from Mr. Kaiyuan Xu and other associates.
- Philips Ding, partner of Broad & Bright, led the team to advise Bertelsmann Asia Investments on its angel round investment in two start-up technology companies. Broad & Bright team performed legal due diligence over the target companies, draft transaction documents for the client.
- Broad & Bright assisted its client to successfully obtain China’s first publicly announced release of restrictive conditions imposed in MOFCOM’s merger control reviews. Ms. Yao FENG, together with her team supported its clients throughout the process.