Vena Cheng is a senior consultant in Akin Gump's Hong Kong office.
Practice & Background
Vena Cheng is a senior consultant in Akin Gump's litigation practice, with focus on white collar and government defense and dispute resolution. Over the past decade, Ms. Cheng advised major Chinese and foreign companies on a wide variety of internal investigations, white collar criminal defense and antitrust matters, as well as contractual and tortious disputes. Ms. Cheng has extensive experience with the Foreign Corrupt Practices Act (FCPA). She has conducted internal investigations and defended U.S. and Asian companies in enforcement actions by U.S. Securities and Exchange Commission (SEC) and U.S. Department of Justice (DOJ) relating to conduct in Asia. She has also assisted many clients on due diligence for transactions relating to acquisitions of Asian companies. She has a deep understanding of practices across a number of industries, including manufacturing, medical devices and pharmaceutical and technology.
Ms. Cheng obtained her LL.B from King’s College, University of London and her P.C.LL. from University of Hong Kong. Ms. Cheng is admitted in New York, Hong Kong and England and Wales (non-practicing).
FCPA and Anticorruption Related Matters
- representing a manufacturer of mining machinery in conducting an internal investigation of potential violations of the FCPA in its PRC operations
- represented a private equity fund in anticorruption due diligence of an acquisition of a PRC white goods company
- represented a U.S. corporation in the technology sector in conducting an internal investigation of potential violations of the FCPA in its PRC and Hong Kong sales operations
- represented a U.S.-listed corporation in the computer technology sector in an internal investigation of potential violations of the FCPA in its PRC sales and after-sales services operations
- represented a U.S.-listed computer technology company in conducting FCPA due diligence related to an acquisition in China
- represented a U.S. medical devices manufacturer in conducting an internal investigation of potential violations of the FCPA in its PRC manufacturing and sales operations
- represented sponsors for an initial public offering of a pharmaceutical company in conducting bribery and corruption-related due diligence
- represented a CEO of a PRC corporation in the environmental protection industry in the defense of an SEC investigation involving allegations of fraud and other potential violations of U.S. securities laws and the FCPA
- represented a U.S. food and beverage corporation in conducting an internal investigation of potential violation of the FCPA in its PRC operations
- represented a U.S.-listed corporation in an investigation involving allegations of an employee in its PRC operations soliciting kickbacks from vendors
- represented a Singapore corporation in conducting corruption and bribery due diligence related to an acquisition in China
- represented a U.S.-listed private equity firm in conducting FCPA due diligence related to an acquisition in China
- represented a number of Hong Kong companies in investigations by the Independent Commission Against Corruption.
Other White Collar and Government Defense Matters
- representing a retailer in conducting an internal investigation of potential sales irregularities in its PRC operations
- representing a securities brokerage in an SFC investigation
- represented a U.S.-listed corporation in the technology sector in conducting an internal investigation of revenue recognition issues in its PRC and Taiwan operations
- represented a U.S.-listed Chinese company in an SEC and DOJ investigation involving allegations of fraud and other potential violations of U.S. securities laws
- represented Hong Kong, Chinese and BVI Investors in insider trading litigation being prosecuted by the SEC in the Southern District of New York
- represented Hong Kong-listed Chinese company in internal investigation of potential violations of listing rules and policies concerning insider trading
- represented a U.S.-listed technology company in its internal investigation of potential violations of import-export laws and accounting regulations in Taiwan
- represented an accounting firm in internal investigations prior to potential SEC investigations and securities litigation relating to the auditing of New York-listed PRC corporations
- represented a bank in relation to US money laundering investigations, assisting in reviewing bank standard documentation, client and transaction records
- represented a Hong Kong company with Korean shareholders and factories in the PRC in relation to shareholders’ disputes and defending criminal investigations
- represented a number of Hong Kong companies in investigations by the Commercial Crimes Bureau
- represented a number of companies in defending environmental and work safety prosecutions in the Magistrates’ Courts.
Contentious Antitrust Matters
- represented a PRC company in antitrust price fixing class actions in federal and state courts in the United States
- represented an Asian airline in a price-fixing investigation.
Commercial Disputes and Miscellaneous Contentious Matters
- representing a U.S. investment fund in respect of disputes arising from its joint venture in China
- represented a Singaporean citizen in commercial disputes relating to companies in Hong Kong and United Kingdom involving forged documents
- represented a European bank in enforcing its security interests in a New York borrower’s goods on consignment in Hong Kong
- represented a state-owned corporation in France in respect of disputes arising from its joint ventures in China
- represented a PRC company in litigation against a debtor and guarantor in Hong Kong
- represented an international investment corporation in a dispute against a PRC bank. The amount in dispute is in excess of US$500 million
- represented a Bermudan company listed on the Hong Kong Stock Exchange, with subsidiaries manufacturing printed circuit boards in the PRC, in a dispute with a U.S. sales and marketing agent over alleged breaches of the sales representative agreements. Arbitration was commenced in New York at the International Centre for Dispute Resolution under its international arbitration rules. The parties later engaged in a mediation under the auspices of JAMS and successfully resolved their differences
- represented a U.S.-listed company in a large insurance claim relating to an explosion at a power plant in the United States; the dispute was resolved shortly after the discovery process was completed on settlement terms favorable to the client
- represented a Hong Kong securities company defending litigation where the receivers of another company claimed damages, alleging an undervalue sale of its assets
- represented the liquidators of a group of securities and finance companies to recover outstanding debts due from over 150 debtors
- represented a U.S. company in appointing receivers for a Hong Kong debtor company; the receivers, with the assistance of the legal team, recovered a significant proportion of the debt and successfully negotiated a settlement proposal for repayment of the outstanding amount with the management of the debtor company within 48 hours of the company entering into receivership
- represented a number of charitable organizations on a pro bono basis on a wide range of legal issues.
Awards & Accolades
- Distinguished Pro Bono Service Award and Individual Gold Award, The Law Society of Hong Kong Pro Bono and Community Service Awards 2016
Ms. Cheng has been appointed by the Government of the Hong Kong SAR as:
- Member of Innovation and Technology Venture Fund Advisory Committee
- Member of Hong Kong Housing Authority
- Member of the Energy Advisory Committee
- Adjudicator of the Registration of Persons Tribunal; and
- Member of the Criminal and Law Enforcement Injuries Compensation Boards.
Ms. Cheng has also been appointed as a member of the Beijing Municipal Committee of the Chinese People’s Political Consultative Conference.