Internship with Zhonglun Law Firm in China

The starting point is understanding the transaction structure and the role of each involved party. This case is an acquisition financing. As an expected law graduate, it is not challenging to locate two underlying deals: an acquisition of a target foreign company and a loan providing finance to implement such an acquisition.

The internship task in the Zhonglun Law Firm requires me to conduct a due diligence exercise on behalf of lenders, a syndicate of major commercial and policy banks of the PRC.

One of the challenges is focusing on the scope of legal service, depending on the clients I would advise. This requirement sounds fairly simple. However, it is not uncommon to make a mistake in practice. Real-world transactions usually involve multiple parties with complicated business relationships, depending on trading structures. The challenge may not lie in identifying the client. Instead, identifying the relationships between the client and other participating parties is not straightforward in this case. On the one hand, I should focus on the scope of legal advice based on the client’s demands. On the other hand, I should also consider the likely impacts brought by other parties on the client due to business relationships with the client. I was required to make a balance to avoid clients being overcharged. I solved this problem with advice from my supervisor and a team member.

Also, I benefited from this internship program: improving effective communication in a legal work environment under team collaborations. Unlike traditionally hierarchical communication styles, my supervisor values an open-minded approach to understanding the perspectives of others. Members are encouraged to express their viewpoints openly and directly rather than using indirect language or softening negative findings. My team welcomes constructive criticism. For example, my colleague, much younger than my supervisor, proposed using ordinary language with footnote-style explanations of legal terminology in the follow-up communication with clients. I believe that my supervisor agreed with him because he had previous work experience with the same client. His expertise matters, nor does his age. When dealing with foreign lawyers, we can understand that legal cultures may influence how legal documents and communications are handled in cross-border transactions. Therefore, we communicated with foreign lawyers by letting them know our Chinese clients’ expectations with respect to the way they prefer to receive legal documents.

Overall, this internship allowed me to develop a range of skills applicable to various legal contexts while also gaining exposure to international legal practices and the intricacies of cross-border transactions. The improvements are precious for my professional growth and future legal endeavours.

Jinbo Fu
Faculty of Law
Winter internship at Zhong Lun Law Firm, China
Global Short Programs Travel Scholarship Recipient