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Ed. note: Welcome to our daily feature, Quote of the Day.
They’ll be sorry.
There could be reasons people would wish to pull out, either they are not getting the business of otherwise. But I think we have a phrase that says talent follows money.
— Former Hong Kong justice secretary Teresa Cheng Yeuk-wah, in comments given to the South China Morning Post on the foreign law firms that are closing their China offices en masse. She went on to say that these firms will “regret their decision.” As noted by the Law Society of Hong Kong, nearly 20 firms have exited the city since 2020, with 73 foreign law firms still registered in Hong Kong as of April.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.