Moratorium
Creditors approve KrisEnergy’s Singapore scheme
Cayman-incorporated oil and gas group KrisEnergy has secured creditor support for its Singaporean scheme of arrangement as part of a restructuring of its US$477 million debt pile.
19 January 2021
Ocean Tankers JMs fail to block vessel claims in Singapore
The judicial managers of Singaporean shipping company Ocean Tankers have failed to set aside writs filed against four of its vessels, after a court found they fell outside a restructuring moratorium that was in place against the company at the time.
18 January 2021
Brazilian senate approves long-awaited law
Brazil’s senate has approved a long-tabled bankruptcy law, which is set to introduce cross-border provisions based on the UNCITRAL Model Law to the country’s regime.
27 November 2020
KrisEnergy to call Singapore scheme meeting
Cayman-incorporated oil and gas company KrisEnergy has won a Singapore court’s permission to convene a creditors’ meeting on local a scheme of arrangement, which will be overseen by AJ Capital Advisory as managers.
17 November 2020
Borrelli Walsh appointed as Hyflux enters judicial management
After a two-and-a-half year restructuring saga, struggling Singaporean utility Hyflux has been placed into judicial management with immediate effect.
16 November 2020
Barcelona court approves Spain’s first pre-pack
Insolvency lawyers in Spain have welcomed a Barcelona court’s decision to allow two language schools to negotiate a sale of their assets before filing for bankruptcy, marking the country's first pre-pack.
12 November 2020
Indonesian property group secures Singapore moratorium with noteholder carve-out
A Singapore court has granted a moratorium to Indonesian real estate group Modernland Realty, approving a carve-out on its extra-territorial effect on noteholders.
06 November 2020
ADGM: A commercially fair and efficient Middle Eastern regime
Alexander Wood, a partner at Shearman & Sterling in London whose firm advised on the establishment of the Abu Dhabi Global Market’s legal and regulatory framework, discusses why parties to regional restructurings and insolvencies should now consider the ADGM regime.
23 October 2020
MNC launches Singapore scheme as other Indonesian debtors follow lead
Jakarta-based conglomerate MNC Investema has launched a pre-packaged scheme in Singapore, months after it became the first Indonesian company to secure a moratorium in the city-state – and other Indonesian companies have already followed suit.
07 October 2020
Germany announces draft restructuring law in line with EU directive
German lawyers have cautiously welcomed a preventative restructuring regime outlined in a long-awaited draft bill that they hope will enable company rescues outside of insolvency and stymie the flow of companies who have headed abroad.
24 September 2020
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