Asian attorneys have featured prominently in global law firm Milbank, Tweed, Hadley & McCloy's annual partnership appointments, with Darrel Holstein and Edward Sun taking the next step.

Tokyo-based Holstein moves into the partnership in Milbank's global corporate department. The former counsel's practice focuses on cross-border mergers and acquisitions and corporate and financial transactions, with a focus on Japan.

He also represents foreign corporations, private equity firms and financial institutions in connection with public and private acquisitions, joint ventures and restructurings in Japan, and Japanese corporations and financial institutions in connection with cross-border projects in Japan and acquisitions. In addition to this, he has participated in joint ventures and other corporate transactions in the United States and other jurisdictions.

Notable Japan transactions he has played a key role in include establishing the first wave of satellite television broadcasting platform companies and cable television MSOs, and the development of the Universal Studios Osaka theme park. His experience also extends to advising Japanese issuers in connection with international securities offerings and compliance with US securities laws.

Holstein, a resident of Japan for over 10 years, also assists foreign corporations with licensing and distribution arrangements, employment matters, financings and other commercial aspects of their business activities in Japan.

In Hong Kong new partner Sun will continue his practice in M&A/private equity, capital markets and distressed transactions before probably relocating to the firm's as yet unopened Beijing office in 2006. He takes the promotion in the firm's global securities and China practice groups.

His capital markets experience includes US SEC registered and Rule 144A/Regulation S offerings for both underwriters and Asian issuers. Recent notable transactions include high-yield debt offerings from Chinese, Indonesian and Philippines issuers, the first Nasdaq and GEM (Hong Kong) dual listing IPO (of a Chinese internet company) and a rights offering by a major listed Indonesian company.

On the M&A side, Sun has also worked on transactions including private equity investments for Citigroup, Goldman Sachs and Farallon Capital. He was also one of the lead attorneys representing China Construction Bank in negotiating and closing a series of strategic investments into CCB by Bank of America and Temasek's subsidiary Asian Financial Holdings.