Internships at AEI: Li Zhengxi

Li Zhengxi shares his experience as an intern with AEI Legal in December 2019. He is currently a second year law student at the National University of Singapore.

1.     What were some of the challenges you faced?

First, the firm specialises in M&A which I had absolutely no idea about. Everyday was a challenge because I had to look up most of the legal and financial jargon that I came across; terms like “convertible preference shares” and “convertible notes” were completely alien to me.

Second, I have never reviewed a contract, much less a shareholders’ agreement, share subscription agreement or an employment/service agreement. I did not know what to look out for at all, and everything seemed so foreign to me.

Third, I was (and am largely still) unfamiliar with many of the processes involved in a merger or acquisition deal. As a result, I had to seek clarifications for most of the documents that I worked on.

2. What was the highlight of your internship experience?

The entire internship was a huge learning experience, but I would recount 3 incidents that are the most memorable to me.

The first of which was when Andrea, the Director of the firm, called all the lawyers and myself into the meeting room to explain a deal that the firm was working on. She first gave us a big picture idea of the transaction, such as the various parties involved the deal and their respective interests, before going into the more important details that the client would be concerned about. She entertained all the questions that we raised just to make sure that everyone was on the same page.

That session was one of the most memorable moments during the internship because it showed me that the people in the firm were not just good at what they do, but good mentors as well.

The second was when I was given the task of working on a file involving Chinese counterparties. While working on the file, I saw how responsive the lawyers were to clients: they responded to emails within a few hours, and always seemed ready to pick up the phone. It did not help that one of the contracts was completely in Mandarin and thus was a lot harder to review. That episode was a display of exemplary work ethic.

The last highlight was when the entire firm celebrated Christmas over a buffet lunch.

Everyone seemed comfortable with one another outside of the workplace, and this reinforced my impression that the firm was like a family.

3.     What did you learn?

Generally, this internship gave me a flavour of M&A transactions and exposure to the processes of legal work and the requirements expected of lawyers. I was fortunate to be involved in files involving clients from different industries, and this helped me to understand some of the concerns that clients may have in general.

The lawyers from AEI were also very patient and helpful when guiding me throughout my three weeks here; from them, I learned more about myself and what kind of lawyer I would want to be in the future.

4.     What advice would you provide to future interns?

a.     Be a sponge and don’t be afraid to ask questions. Come in with an open and curious mind.

b.     When looking at any transaction, try to imagine yourself in the shoes of all the transacting parties to better understand their concerns.

c.     Make a log of everything that you have learned at the end of every day.

5.     Did you enjoy your time?

I enjoyed learning something new every day of the internship. The learning process was just as comfortable because everyone was very patient and willing to impart their knowledge. If there was something I was unsure of at any point in time, I could always turn to ask any of the lawyers. Overall, my stint here has taught me about the need for both technical competencies and work ethic; it has truly been an enriching experience.