Herbert Smith hires for HK restructuring launch

Herbert Smith has launched a Hong Kong restructuring practice with a partner recruited from the local arm of Bermuda's Appleby.

Michael Barker will focus on restructuring and insolvency work across China, including Hong Kong, and will work closely with Herbert Smith's finance and litigation teams.

At Appleby, Barker headed the Hong Kong bank and structured finance team. Prior to joining the offshore leader in 2006, he was an insolvency partner in the Hong Kong arm of Freshfields Bruckhaus Deringer.

Barker specialises in advising creditors, debtors and investors on non-contentious restructuring and insolvency issues.

As in the rest of the world, the economic downturn has boosted restructuring work in Asia. A number of firms are now seeking to boost local capabilities in the region, as top European and US experts are much in demand at home.

Herbert Smith head of Asia, Ashley Alder, commented: "An increasing number of financial institutions and corporates in Asia are now looking for big-ticket restructuring and insolvency advice and the hire of Michael will allow us to offer them precisely that. He is one of a small number of go-to lawyers in this field."

The move comes after Herbert Smith this year bolstered its Chinese practice with the recruitment of corporate rainmaker Jeremy Xiao, who returned to the firm after joining Credit Suisse in 2007. Xiao, who had been a major force in building up the top 10 London law firm's highly-rated Chinese capital markets practices, rejoined Herbert Smith as a consultant in its Beijing office.

In January, Herbert Smith also has overhauled its management structure in Asia with the creation of two new managing partner roles for China and South East Asia. The move saw Hong Kong office head Andrew Tortoishell take up an expanded role of Greater China managing partner, overseeing the firm's practices in Hong Kong, Beijing, and Shanghai.

At the same time, Singapore corporate partner Austin Sweeney took up a new leadership role for Southeast Asia - heading the firm's development in Singapore, Thailand and Indonesia.