Local firms bear the brunt of property collapse; international firms face cutbacks
November 28, 2001 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
More than 30 Hong Kong law firms have closed in the past 12 months, according to local Law Society figures, as further evidence emerges of financial pressure on Asia’s leading legal capital.
Figures compiled by the Hong Kong Law Society show that 10 of the firm closures were reported to the body in the past month alone, indicating that pressure on Hong Kong’s economy is increasingly hitting local firms.
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