Professional Experience
Mr. Liu graduated from Peking University Faculty of Law in 1985. Even before graduation he was involved in legal practice, working as an articled clerk at the Legal Department of China National Machinery and Equipment Import & Export Corporation. In late 1985 Mr. Liu went to the University of British Columbia in Vancouver, B.C., Canada where he studied international business law. He also articled with Swinton & Company (now known as Miller Thompson LLP) during the summer holidays and continued to work with the firm after completing his studies. Since returning to China in 1988, Mr. Liu has worked with C & C Law Office in Beijing, China and Schulte Roth & Zabel LLP in New York. In 1995 he established Junyi Law Office as one of the founding partners. Then in April 2007, Junyi Law Office, represented by Mr. Liu and his team, merged with Runbo Law Firm of Beijing. The resultant merger is now known as Run Ming Law Office, with Mr. Liu as one of the firm's executive partners.
Since becoming a full time lawyer in 1988 Mr. Liu's practice has focused on aircraft finance/leasing, banking and finance, and foreign direct investment (including mergers and acquisitions), in which he has gained a lot of experience. He is listed in Who's Who Legal as a prominent business lawyer in China.
In the area of aircraft finance/leasing, Mr. Liu has represented the General Administration of Civil Aviation of China (CAAC), airlines controlled by CAAC, and regional airlines in the acquisition of several hundred aircraft and substantial number of aircraft engines either by way of finance lease or operating lease. In these transactions Mr. Liu's role included representing clients in complex negotiations with foreign lessors and banks, drafting and revising transaction documents, providing advice on Chinese law issues arising from the transactions, as well as issuing legal opinions. He has advised Chinese airlines in negotiating insurance payouts with foreign insurance companies in respect of claims arising from accidents. He has represented Air China at the United Nations in war claims against the Government of Iraq for business interruption, damages to, and loss of properties caused to the airline during the Gulf War. He has also represented Chinese and international banks in aircraft finance and leasing transactions involving Chinese airlines, including designing of transaction structure, providing Chinese law advice, drafting and revising transaction documents, participating in negotiations, issuing legal opinions, and assisting clients with aircraft registration matters. Mr. Liu led and advised on the first ever aircraft sale and leaseback transaction in China between a Chinese leasing company and a Chinese airline, and subsequently represented Bank of China and other financial institutions in the successful closing of several aircraft sale and leaseback transactions. Since 2006 Mr. Liu has represented a Chinese leasing company in several domestic operating lease transactions involving Boeing and Airbus aircraft. Mr. Liu is very experienced in the establishment and operation of leasing companies in China, and has advised Chinese and foreign banks or leasing companies on setting up leasing companies in China. Mr. Liu's clients were deeply impressed by his rich experience, attentive service and excellent English.
Mr. Liu has extensive experience in aerospace projects, having advised China Orient Satellite Communications Ltd. in the negotiation of a satellite purchase agreement with Lockheed-Martin. He has also represented KfW in the financing of SinoSat-1, a joint China-Europe space cooperation project, where he helped to sorted out complex legal issues arising from the transaction, and facilitated the smooth funding of the project.
In the area of banking and finance, Mr. Liu has represented banks and non-banking financial institutions from the US, UK, France, Switzerland, Norway, Korea and Hong Kong in buyer's credit and export credit facility transactions involving Chinese banks and non-banking financial institutions, and has advised those offshore institutions in providing equipment financing or acquisition financing to entities (Chinese domestic enterprises and foreign investment enterprises) in China, (including the proposed acquisition of Unocal by China National Offshore Oil Corporation Ltd., acquisition of certain parts of Honeywell's business by Baldor Electric Company). Since the late 1980s
Mr. Liu has been involved in the commercial contract negotiations for Guangdong Daya Bay Nuclear Power Station, the first nuclear power station in China, and subsequently participated in the negotiation of the supply of a Candu nuclear reactor to Qinshan Nuclear Power Station by AECL of Canada. He was also involved in numerous coal-fired and wind power projects such as Tangshan Sithe Thermal Power Project, Shandong Zhonghua Power Project, and other project finance transactions, including the financing of Nanjing IPS project with an annual capacity of 600000 mt ethylene sponsored by SINOPEC/YPC and BASF, where he advised the financiers. In 2006 he acted as the Chinese legal counsel to Hynix-ST Semiconductor Ltd. in respect of a US$1 billion equivalent RMB financing for its chip factories in Wuxi, China. He has also provided legal advice to foreign banks and other financial institutions in relation to their business activities in China, and has provided bank regulatory, commodities futures and tax advice to foreign banks and other financial institutions in connection with the financial or commodities derivatives transactions involving Chinese entities. Mr. Liu has also represented an international consortium in their participation in the auction of distressed assets by Chinese state-owned asset management companies. In addition, Mr. Liu has also advised Chinese and foreign banks, foreign investment enterprises, Chinese and foreign insurance companies in large project finance transactions, as well as banking and insurance business, providing legal advice and issuing Chinese legal opinions.
Mr. Liu has extensive experience in foreign direct investment, having represented many international investors in establishing joint ventures and wholly foreign owned enterprises in China. He has provided clients with legal services for the whole investment process, including providing comprehensive analysis on the Chinese legal framework of foreign investment laws and regulations, analysis on investment structure, assisting clients in holding discussions with Chinese government authorities on the issues arising from foreign investment approval process.
.Practice Areas
Aircraft finance/leasing, banking and finance, foreign direct investment
Publications and Speeches
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Legal Issues on Aircraft Finance in China, Air Law, Vol. XVI, No. 1, |
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February, 1991; |
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Hames & McBain's Aircraft Finance - Registration, Security and |
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Enforcement, Sweet & Maxwell, 1993-2006 (China Chapter); |
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The Banking System in China, International Banking and Financial Law, |
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Longman, Vol II, September, October & November, 1992; |
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Leasing in China, World Leasing Yearbook, 1993 Ed.; |
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Mr. Liu Yi has also given numerous speeches on legal issues in aircraft |
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finance, foreign investment in Chinese civil aviation, Chinese foreign |
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exchange regime, as well as legal issues in project finance transactions |
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in China at international conferences and seminars. |
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