Baker McKenzie is suing Chinese property giant Xinyuan Real Estate Co. Ltd for allegedly failing to pay $334,000 in outstanding fees to the firm.
The debt is based on Baker’s monthly invoices for three years’ worth of legal services including the preparation and filing of financial forms, earnings release assistance and press release reviews, the firm said in a complaint filed July 2 in the Supreme Court of the State of New York.
Baker said it started a retainer agreement with Xinyuan in 2009. Pursuant to the retainer, the firm agreed to take care of Securities and Exchange Commission filings and assure the company complied with securities-related regulation, according to the complaint.
Xinyuan, which is based in the Cayman Islands and develops properties throughout China, accumulated unpaid legal fees between April 2019 and August 2021, but never objected to or disputed the fees, Baker claims. Xinyuan originally owed its attorneys nearly $345,000, but it paid Baker a little over $11,000 in response to a demand letter the firm sent in April 2022, according to the lawsuit.
Baker McKenzie is a global firm operating under a verein structure with more than 6,500 lawyers in 70 offices, according to its website. The firm, represented in the suit by London Fischer, did not immediately respond to a request for comment.
Xinyuan manages, designs and sells municipal, residential and commercial property in Chinese cities such as Beijing, Shanghai and Zhengzhou. The company didn’t immediately respond to request for comment. Its lawyers have not yet entered an appearance.
The case is Baker & McKenzie LLP vs. Xinyuan Real Estate Co. Ltd., N.Y. Sup. Ct., No. 653420/2024, 7/2/24.
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