Pádraig Walsh

Partner

Profile

Pádraig’s practice focuses on the technology sector. His clients also include businesses in other sectors in relation to legal issues arising from their use of technology. He has represented companies within specific verticals of fintech, insurtech, regtech, biotech, healthtech, edutech, cleantech, and supply chain tech. Pádraig works with businesses at all stages of the corporate growth cycle, from early through growth and on to mature and multinational stages.

Pádraig’s practice areas include corporate and venture capital, commercial and privacy, and regulatory and compliance.

Corporate and venture capital

Pádraig’s work encompasses advice on private equity and debt financings, leading on investment negotiations and completion, and preparing documents to implement deal terms. He also advises on the range of common issues for emerging companies, such as corporate structuring, IP licensing, equity incentive plans, and shareholder disputes. He represents both investors, strategics, and founders.

Pádraig also advises companies of all sizes on mergers and acquisitions, corporate restructurings, and joint ventures, and advises clients on investment structures, and regulatory and governance issues for investments into a range of asset classes.

Commercial and privacy

Pádraig has deep experience in the commercial and business issues that technology businesses face, and has advised clients extensively on addressing and resolving those issues. He has advised a number of clients on legal issues relating to e-commerce platforms or online services sales and marketing, software development and licensing, technology outsourcing arrangements, and general commercialisation of technology.

Pádraig has a particular interest in personal data privacy regulation, and has advised clients on the requirements in Hong Kong on collection, use, processing, transfer, storage and deletion of personal data. He has assisted clients to respond to regulatory enquiries, and to mitigate the consequences of data breaches. Pádraig is the main contact at Tanner De Witt in respect of PrivacyRules, an international alliance of privacy experts that combines legal, technical, and data related expertise to assist clients globally with a multi-disciplinary and multilingual approach.

Regulatory and compliance

Pádraig’s practice also includes assisting clients on licensing, regulatory and compliance. His experience in this area has enabled him to advise clients on a number of innovative, complex fintech projects. He is at the forefront of advising on legal issues for emerging businesses using blockchain technology. This has included regulatory advice in relation to token sale offerings, security token offerings, stable coin listings, and tokenization of equity and fund interests.

Pádraig frequently provides legal training programmes for a number of accelerator programmes. He is also a regular speaker and writer on technology and law.

Pádraig is a Notary Public.

Experience

Corporate and venture capital

  • Advised the founders of Bowtie Life Insurance on the conclusion of its investment round with Sun Life.
  • Advised a Hong Kong financial services platform on preparing documentation for its Series A investment round. Documentation included term sheet, investment agreement, subscription and shareholders agreement, articles of association and approval documents. This is one example of many investment round transactions on which we have advised.
  • Advised a Hong Kong-based, venture capital backed accelerator programme on the funding arrangement for operating its accelerator programme.
  • Advised on the fund formation and financing for a seed venture capital fund targeting investments in Asia and Europe.
  • Advised a large European insurance administrator on its acquisition of a south-east Asian InsurTech platform, and the arrangements with its founders (who will remain with the target company) going forward.
  • Advised numerous business in the technology sector on the structuring of equity incentive plans, including restricted share plans, share option plans, stock appreciation rights and notional unit schemes.

Commercial

  • Advised an online delivery solutions business on its strategic partnership in Singapore for the design, development and commercialisation of a proprietary system of mail delivery.
  • Advised on and drafted SaaS terms of service for a management consultancy software tool.
  • Advised on rights to technology in the context of a business separation and asset transfer of an online gambling business, including technology cross-licensing arrangements.
  • Advised a cryptocurrency payment business on its online conditions of service in respect of real-time sale and purchase of cryptocurrency.
  • Advised on and drafted terms of use for the online sales of products and services for numerous businesses in the technology sector.
  • Advised an online real estate agency on software development and maintenance agreements.
  • Advised on a co-brand program agreement in relation to the issuance of a co-branded credit card by a stored value facility provider and approved issuer of MasterCard.
  • Advised on service level agreements and outsourcing arrangements in respect of tech refurbishment services for second hand sale of electronic devices.

Personal data privacy

  • Advised a professional services firm on the migration of personal data of Hong Kong data subjects to cloud platforms with data centres located outside Hong Kong.
  • Advised and drafted data transfer and processing agreements in respect of sharing of personal data between operating entities in Asia Pacific for a multi-national property services firm.
  • Strategic advice on responses to Privacy Commissioner enquiries in relation to alleged data collection and processing issues from the technology platform operated by an event management business.
  • Guidance on the relevance under Hong Kong law of GDPR compliance in respect of business operations in Hong Kong of various businesses operating in Asia Pacific.
  • Guidance on compliance with direct marketing rules for various business operating in Hong Kong.
  • Advice and review of personal data processes and compliance for the Hong Kong operations of a US headquartered e-commerce business, including onsite interview, policy reviews, and team training

Compliance and regulatory

  • Advised a Hong Kong crowdfunding business on a proposed property crowdfunding platform in Hong Kong, including detailed regulatory advice on the relevant Hong Kong licensing requirements, and licensing process.
  • Advised a Hong Kong payment fintech business on a range of payment regulatory issues, including trust and company service provider regulation, regulation of stored value facilities, money service operations, money lending, credit card issuance, and banking regulation.
  • Advised a Hong Kong receivables financing business in respect of its intended operation of a platform for offering trade receivables of small medium size enterprises for investors to purchase. Provided detailed regulatory advice on the licensing issues, and assisted in preparation of complex documents around receivables financing, that required adaptation to an electronic operating environment and consideration of the regulatory environment in which the business operated.
  • Advised an insurance sector research non-profit on insurance regulation in respect of whether its research methodology and published reports and ranking tables constituted a regulated activity requiring approval from the Insurance Authority.
  • Advised a number of blockchain based businesses on the application of securities and payment regulation in Hong Kong in respect of intended token sales to persons in Hong Kong or listing of tokens on exchanges in Hong Kong.
  • Advised on AML regulation in respect of airdrops for a blockchain gamified social media platform.
  • Advised on Hong Kong regulation for structuring of onshore and offshore activities according to regulatory needs for a crypto trading fund.
  • Advised a blockchain based platform on regulatory implications for intermediation in mid-tier private market capital raising.
  • Advised an offshore inter-dealer brokerage on regulatory implications for marketing in Hong Kong of an electronic network communication network that provides an alternative trading system for broker-dealers to automatically trade equities listed in another territory.

Testimonials

Legal 500 Asia Pacific 2017 notes: “Pádraig Walsh … provides ‘straightforward advice’ and ‘inspires confidence’.”

Chambers Asia Pacific 2014 notes: “He is a really exceptional lawyer. He looked at everything from our perspective, and provided us with solutions – not advice.

Chambers Asia Pacific 2012 notes: “Clients describe Pádraig as ‘a great communicator who is able to explain and distil complicated information in a very clear manner. He is also pragmatic and understands that his advice needs to take into account our business needs as well as the general business environment.’”

Chambers Asia Pacific 2011 notes: “Pádraig is helpful, approachable and fully capable of handling complex matters in a detail-oriented manner.

Memberships

  • The International Technology Law Association
  • PrivacyRules
  • Fintech Association of Hong Kong
  • Investment Products & Financial Services Sub-Committee to Practitioner Affairs Committee of the Law Society of Hong Kong
  • Honorary Fellow of the Asian Institute of International Financial Law (with the University of Hong Kong)
  • The Law Society of Hong Kong