Michelle Taylor
Michelle is a Partner at Tiang & Partners and a member of PwC Global Business Solutions Leadership Team. She is also the Asia Pacific Leader for the PwC Global Business Solutions. 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 nearly 30-year-long 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 recognitions
Legal 500 Asia Pacific Guide
- Structured Finance and Securitisation in Hong Kong – Leading Individual
At Tiang & Partners, the ‘excellent’ team is highly regarded for its adept solutions in the securitisation space. Michelle Taylor stands at the helm of the practice and is renowned for her work within the South Korean securitisation market, in addition to the collaboration with the transport finance team, particularly concerning aviation-related future flow receivables transactions. Predominantly focused on bank-centred clients, the team also excels in arranging cross-border transactions for Korean issuers, often centred around consumer loans, like credit card receivables.
Michelle 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 Lawyer
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.
‘The team has been together for many years over many deals so it is the go-to team for securitisation deals, in particular for Korean deals. It is clearly the first team that we approach if not the only team. The team’s expertise and approachability is what makes our work easier.’
Chambers Global Guide, Greater China Region Guide
- Capital Markets: Securitisation (International Firms) - China: Band 1 Lawyer
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.' Michelle is also considered as ‘the go-to lawyer for Korean securitisations and dominates the market share for cross-border ABS.’
Chambers Asia-Pacific Guide
- Capital Markets: Securitisation & Derivatives: International Firms - South Korea: Band 1 Lawyer
Michelle Taylor of Hong Kong-based Tiang & Partners is a well-reputed figure in the market. She continues to assist clients with securitisation and structured finance matters. A client states: '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.' Other clients believe that ‘her knowledge and experience on Korean cross-border ABS deals are second to none in the market. She is very hands-on and provides practical and commercial advice.’