Michelle Taylor
Michelle is a Partner at Tiang & Partners and a member of PwC’s Global Legal Leadership Team. She is also the Asia Pacific Leader for the PwC’s Global Legal Network. Michelle advises on debt capital markets, banking and finance transactions, with a particular emphasis on structured finance, securitisation, asset-backed and secured finance, structured products and derivatives.
During her 25-year career in Hong Kong, Michelle has executed complex cross-border finance solutions for clients across the Asia Pacific region in various industries including financial services, aviation, shipping, consumer credit, energy and real estate. She has been at the forefront of the Asian securitisation market since its development in the late-1990s, and advised on the first deals in many jurisdictions such as Korea, the PRC and Malaysia.
Michelle is recognised by Chambers Global, Asia Pacific and Greater China Region as a Band 1 lawyer in Capital Markets for both China and South Korea. She is also listed as a leading individual by Legal 500 Asia Pacific.
Areas of expertise
- Debt capital markets
- Banking and finance
- Structured finance
- Securitisation
- Asset-backed and secured finance
- Structured products
- Derivatives
Representative experience
- Advising on cross-border securitisations of credit card receivables, auto loan receivables, personal loans, mortgages, lease receivables, airline ticket and air-cargo receivables, shipping receivables, collateralised bonds and loans, natural assets and non-performing loans.
- Advising on PRC secured offshore borrowing and lending (backed by assets such as commercial real estate, local government bonds, non-performing loans, consumer receivables).
- Advising on airline ticket and airline/shipping cargo receivable securitisations for clients in the PRC, Korea and the Philippines.
- Advising on commercial real estate lending transactions in the PRC (including commercial mortgage-backed securitisations).
- Advising on acquisition financing.
- Advising on disposition of performing/non-performing portfolios of investments and securities (auctions and debt capital markets).
- Advising on bespoke offshore investment structures for PRC investors.
- Advising on covered bond transactions.
- Advising on issuance of guaranteed and/or secured loans and bonds.
- Advising on credit derivatives (including credit default swaps, credit-linked notes and total return swaps).
Awards and recognition
Legal 500 Asia Pacific
- Structured Finance and Securitisation in Hong Kong – Leading individual
Since its establishment in 2017, Tiang & Partners (an independent Hong Kong law firm that works closely with PwC) has developed a strong reputation for securitisation work. Team head Michelle Taylor has been instrumental in the firm picking up work from foreign banks in relation to securitisations involving a range of asset classes, including credit card receivables and auto loans. Taylor has a particular specialism in handling work with a nexus to Korea, although her broader practice involves matters spanning the whole of the Asia Pacific region.
- Capital Markets: Foreign Firms in South Korea – Recommended individual
Practice head Michelle Taylor and the capital markets team at Tiang & Partners focuses on asset-backed securitisation, with extensive experience as international legal counsel on Korean cross-border and domestic securitisation transactions.
Chambers Global, Asia Pacific, Greater China Region
- Capital Markets: Securitisation (International Firms) - China: Band 1
Michelle Taylor is widely held to be one of the strongest securitisation lawyers in the market. She is based in Tiang & Partners' Hong Kong office but boasts noted South Korea-related expertise. A client confirms this, stating: 'She is a key person in the Korean securitisation market and very much committed to responding to the questions and comments of the parties involved at any stages of a transaction.' Another client asserts that she is 'one of the best securitisation lawyers in Asia-Pacific.'
- Capital Markets: Securitisation & Derivatives: International Firms - South Korea: Band 1
Michelle Taylor of Hong Kong-based Tiang & Partners continues to assist clients with securitisation and structured finance matters. A client states: 'She is a key person in the Korean securitisation market and very much committed to responding to the questions and comments of the parties involved, at any stage of a transaction.' A second client likes that 'she is on top of all aspects of a deal,' and a market source lauds: 'Michelle has a wealth of knowledge and is very adept at dealing with sensitive situations.'