IFLR recognises Rajah & Tann's lawyers and practices

Rajah & Tann's managing partner, Mr Lee Eng Beng SC, its deputy managing partner, Mr Patrick Ang, as well as executive committee partners Mr Goh Kian Hwee and Mr Chia Kim Huat, were ranked as leading lawyers by the International Financial Law Review (IFLR).

Rajah & Tann's insolvency and restructuring practice once again was ranked in tier 1, maintaining its pole position in the top tier for the 8th consecutive year.

Both the capital markets and mergers and acquisition practices maintained their ranking in tier 2.

The banking and finance practice moved up to tier 2 after completing a series of significant deals since the last year.

The editorial on Rajah & Tann released by the IFLR is highlighted below.

IFLR's editorial on Rajah & Tann

After a tumultuous year in 2009, which saw three partners leave the firm, Rajah & Tann has been in a period of consolidation in the past year. The firm retains its position across the tables and is still seen as a major player in M&A and capital markets.

Certainly in terms of capital markets work, clients were quick to praise the firm's accessibility: "Very accessible - virtually 24/7, it's a great plus," says one. "Deals are 'cooked' over the weekends, and they're one of the very few law firms where you'll just dial them and they'll respond."

In a highlight banking transaction, partner Angela Lim advised Resorts World at Sentosa on secured credit facilities of S$4.2 billion ($3.5 billion) to refinancing some of its building projects on Sentosa Island. Although Resorts World's casino was already in operation when this deal was worked out, ongoin construction of the rest of the resort means that the deal involves both project and debt finance.

Senior counsel Lee Eng Beng, head of the restructuring and insolvency practice is highly thought of by clients: "I've been working with him for the last ten years. Very good understanding and after instructing so many lawyers and firms I only retain the best. He's an expert in this area, knows where the bank is coming from, and always comes up with a good case." Another client agrees and describes Beng as "intelligent, quick thinking and", says the client, "he provides key strategy and solutions".

Beng worked on a number of notable transactions last year, including representing lenders and creditors in several large restructuring and rehabilitation cases. Along with partners Sim Kwan Kiat and Ryan Loh, he acted for bank lenders on the insolvency of Korea Line. The company's Singapore subsidiary alone owes $100 million, but was placed under bankruptcy protection by South Korean courts. Lee also advised creditors regarding the insolvency of Drydocks World Group, which also carried $100 million in debt.

Patrick Ang, another member of the firm's R&I team, is also praised: "Sound business acumen and in-depth knowledge of the insolvency laws in Singapore," says one client.

On the M&A front, well-regarded partners Goh Kian Hwee and Lawrence Tan handled the exit of Oversea-Chinese Banking Corporation (OCBC Bank) from Map Technology Holdings, an integrated data storage service provider. Map Technology voted to delist from the Singapore Exchange Securities Trading (SGX-ST), and OCBC Bank offered S$74 million in shares for its exit offer.